Sigma Marketing Case Study Sigma Marketing has been ahead its time from the marketing aspect for decades. Although the company will have to adjust to the external environment in order to have continued success. The case study did not seem to mention competition but the company has a niche which limits the competition they will face. Finding an unfilled need is the key to reducing or eliminating competition. Therefore, I do not foresee competitors creating a major problem for Sigma as they are the founders for what they do and continue to raise the bar in order to stay relevant.
According to the text, technology advancements refer to the way accomplish tasks or the processes we use to create the “things” we consider new (Ferrell & Hartline, 2011).
Technology can create new marketing opportunities for those companies that embrace and implement the changes. Sigma has always invested in additional training, continued education and upgrades regarding technology advances. Their commitment to stay in the forefront will serve them well in the future. From administrative tools to e-commerce, technology will be the company’s biggest challenge over the years.
As technology advances, companies may find ways to produce some items in-house with the younger generations starting to become a part of the workforce that grasps technology better than the aging workforce in place. In order to combat the changes in the workforce, Sigma must put a strong emphasis on communication. Communication with the client is an essential aspect of firm’s success. With several choices available many times the decision maker is the customer service that a company provides. Continuing to solidify communication to long standing clients and building new relationships with new clients will make a big difference.
The Business plan on Sigma marketing
... marketing environment rising competitions is also one of their threat. Strategic Focus Sigma marketing ... Sigma marketing. Strength of Sigma marketing One of sigma’s strength is the ability to understand market opportunities and develop and continues ... of work. Sigma also shown ability in adapting new technology. Don sapit ... and highly service oriented company in the market. Sigma has committed employees ...
Communication will have the biggest impact on Sigma as technology makes face to face meetings obsolete. Sigma must find new ways to keep a face and the name connected. Phone calls and annual meetings with clients to discuss what they have done and what they are looking to do differently will play a large part in keeping clients’ needs met. SWOT for Sigma Marketing Potential Internal StrengthsRespected companySuperior managementBetter marketing skillsAlliances with other firmsGood distribution skillsCommitted mployeesWell trained employeesGrowing product line| Potential External OpportunitiesChanging customer needsNew technologyClient’s growth| Potential Internal WeaknessesProduct lineLoss of visionary Aging workforce| Potential External ThreatsChanging customer needsRival firms developing new strategiesEconomic downturnNew technology| The most important strategic initiatives for Sigma are personnel strategies, succession plans and sustainability. Making sure that Sigma personnel continues to be well educated and skilled will help to determine whether the company continues to grow or starts to decline in the long term.
Succession of leadership goes along with the strength of the personnel. Once Mike retires, there will need to be a smooth transition of leadership. This transition will affect the entire company from the vision to client relations. If done properly there will only be minimal adjustments and continued growth of the company. Otherwise this transition can be the company’s downfall. Sustainability is another vital issue. With many companies going green trying to reduce their carbon footprint, Sigma must continue to find ways to reduce theirs also.
Companies with these environmental concerns pay more for services and products from green companies and stop doing business with those companies that are not making a difference. Sigma Marketing has been an innovator since the beginning and continues to reinvent itself. If it continues to follow the vision that its founder had the company should have continued success and growth. References Ferrell, O. C. , & Hartline, M. D. (2011).
The Essay on Drug Companies Market Advertising Marketing
Drug companies spend enormous amounts of money on advertising their products. From TV commercials to print ads to bulk mail advertisements, they cover the entire spectrum of marketing techniques. However, change is afoot and most drug companies are reevaluating their advertising strategies and how they spend their money. According to a recent Business Week article ("Drugmakers are Changing ...
Marketing Strategy (5th ed. ).
Mason, OH: South-Western Cengage Learning.
