Free «The Diggers Inc» UK Essay Paper
Table of Contents
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- PESTLE analysis of Diggers Inc
- Political analysis
- Economic analysis
- Social analysis
- Technological analysis
- Legal analysis
- Environmental analysis
- 5. Establishing online discussion groups and communities
- 1) Advertising
- 2) Sales promotion
- 3) Public relations and publicity
- 4) Personal selling
- 5) Direct Marketing
- Related Free Economics Essays
The Diggers Inc is an international company whose major presence is based in the UK. Diggers Inc is a company that builds infrastructures in many parts of the world. Its capability of diversification has been quite efficient mainly because of the possession of the heavy and well equipped machinery. More so, Diggers Inc is currently the leading company in terms of heavy equipment worldwide. The company has diversified its sales worldwide especially in some parts of Europe majorly based in Geneva.
The company being world`s leading conglomerate, its sales is more than $ 12 billion as the profit figure up to $500 billion. Diggers Inc employs skillful workers. There are more than 10,000 qualified people working for Diggers Inc. Diggers Inc success is based on its experiences, as it has been operating for more than 50 years since in UK.
Just like any other business, Diggers Inc is also characterized by rises and falls. For instance Diggers Inc there has been a decline in its service revenue. This problem if mainly caused by the competitive pricing, and poor performance in the market places. There are also some companies of the same kind which are posing competition because they have high market oriented skills.
The frequent breakdown of machines is also a major problem facing Diggers Inc Company. The breakdown of the machines at the places of work prolongs the time of operation. Diggers Inc as an infrastructural company is therefore compelled to spend a lot of money in repairing the machines so as to enable the continuity of the operations.
The Diggers Inc is faced by some weaknesses, but at most frequent it gets an opportunity to identify new ideas. For example, due to sudden and frequent breakdown of machines, the company has come up with an idea of employing more qualified engineers who can skillfully repair the machines to avoid frequent damages. Diggers Inc is also potentially ready to expand and upheld its marketability. This has been made possible by; employing more than 10,000 workers and researchers, and diversifying researchers worldwide.
Diggers Inc is currently facing a steep competition from foreign and domestic competitors which have cannibalized a large market. The company is likely to improve the quality of work but the profit will remain the same. Diggers Inc may not be prepared to pay much for reputation and image. More so, the available markets are highly sensitive to economic trends and changes. This fact certainly affects the market place. Beside, unfavorable government interventions such as lowering import barriers of products and services to the UK in accordance with new agreements.
Diggers Inc can be basically be compared to Exploration Technologies Inc which has become a major competitor in the market today. Through the strength of diversification, of Diggers Inc has effectively been having stiff competition with Exploration Technologies Inc in services provision. Through it huge revenue diggers inc compared to Exploration Technologies Inc, it has been able to come up with new ideas which have led to innovation of new techniques in the market.
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PESTLE analysis of Diggers Inc
Diggers Inc is facing government intervention in various ways. First, the political influences on Diggers Inc Company have recently emerged ranging from newly set rules to outside politics directed to its management. UK government has been keen on observing category of machine sold by this company. This imposition of laws regulating the types of machines manufactured and sold has negatively affected the business. Secondly, government also affects Diggers Inc by limiting the number of countries that the infrastructural operation is to be done. This regulation too limits the availability of market.
Government also has positive impact on the company. The government of the UK has been able to understand the financial need of the company. Diggers Inc is currently able to operate across the nation`s boundary due to the government financial support (www.diggerresources.com)
Diggers Inc Company experiences economic factors such as taxation, interest rates, and inflation. Since Diggers Inc is a global company, taxation has been impacting it negatively. For instance, the movement of machines across their national boundary to another country requires the company to pay tax. In the other hand also, there are changes, for example a recession creating increase d activity at the lower ends of product-price ranges, fluctuation of exchange and interest rates and the worst is the inflation rates.
Social factors include changes in cultural practices, population growth rate, attitudes and lifestyles. Diggers Inc profit margin is adversely affected by these changes. As an example, most countries are impressed with new types of machines which are now not available at Diggers Inc Company. This affects the company’s profit because countries will be rushing for the new types of machines that are manufactured by other companies. Most countries who earlier happened to be Diggers Inc`s customers changed their infrastructural styles to fit in the current types of machines. Finally some countries have low population growth limiting the potential market for company`s product.
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These are changes in manufacturing, advertising, and product improvement. The recent advancement technology has made Diggers Inc Company to change the marketing strategies. Diggers Inc Company have recently involve itself in advertisement which has become the company`s marketing strategy. Additionally, the company`s extension in automation has resulted in improved quality and quantity of its products and services,
This includes the legal area or environment in which the firm operates. The recent significant legal changes in the UK have affected several firms including Diggers Inc Company. The increase in the minimum wage and higher requirements for the recycle are the examples of the legal laws that impact the Diggers Inc operations and production. These legal changes have also affect Diggers Inc`s cost and demand due to the new procedures and systems that were developed. For example, the law has affected the customer`s likelihood of using the service.
This include weather and climate change. Weather and climate change has adversely affect Diggers Inc production and operation. For example, considering the weight of the machine, it may not operate in an area with high rainfall as it will sink. There is also a growing desire to protect the environment. This has also affected Diggers Inc Company; as more taxes will be impose on the transportation of the machines to a place more environmentally friendly. This will definitely affect the demand pattern and hence create business opportunities.
Diggers Inc Company is one leading companies in the world. Comparing with other companies, Diggers Inc is a high-tech; diversified manufacturer that provides services in many parts of the world( www.diggerresources.com). Companies which also provide the same services are faced with the problem of diversification of services.
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Diggers Inc "present and future" from PESTLE and SWOT.
Diggers Inc has proved successful despite the cut-throat competition it receives from potential companies such as Exploration Technologies Inc dealing in the same products and services. Its maintained momentum in technological advances is remarkable since its engineers are not caught sleeping on the switch by not waiting to be awakened by other companies as far as innovations are concerned. This is a great step towards containing technological surprises which may sometimes seem difficult to reach. Diggers Inc has proved this by perceiving all its future and present interests on one vital element: profound research. Research, as observed by the company’s CEO, acts as an avenue to new interesting innovations and also confirms that the company spends approximately 70 percent of its annual income on research activities.
After successful innovation for many years as its legacy, the company remains determined to lead the world in the development of profound technologies. Today, courtesy of the hard work and ingenuity of the company’s many talented engineers it is steadfastly working in the development of exciting services and products. Diggers Inc is capable of achieving these for many years to come.
Explain in detail how Diggers Inc might use each element of the Marketing Mix, to support the Diggers Inc scale models in the children's toy market.
We can define marketing as creation of interest in goods or services to various environs, these include business parties/partners, and customers in general (Little, 2005). Markets thrive to create value for their customers and to build connections through identifying their needs, satisfaction of their needs and ensuring the long run survival of the company and customer relationship. Marketing being the process of promoting , advertising , branding, assigning prices and building economically viable distribution channels on products ,is an indispensable recipe in the success of any company .
Marketing mix is based on the parameters which are enshrined in the 4 Ps i.e. price, place, promotion and product. According to Efthymios (2003). in his article "the concept of marketing mix", he describes the 4 Ps as the tools a manager can control subject to the external and internal shortcomings of the business environment.
Diggers Inc basic market entry strategy is purchasing local established appliance companies, merging with already existing markets. The growth of their business is based upon a strategy of pure diversification into related business areas, and a true belief throughout the Diggers Inc organization 'top-down' of being customer orientated. .
In dealing with marketing mix element, firstly when dealing with Place, which involves timely delivery of the products to the customers and their distribution, Diggers Inc must employ distribution channels that will involve wide geographic regions for efficiency and incisiveness of the market so as to deal with the wide range of market prospects for the children toys. Avoiding middlemen in the channel will increase the speed of distribution and decrease the costs involved. Order processing and inventory management must be speedily and accurately done to avoid delays due to the huge market expectations .It could also be prudent for the management to strategically place service delivery and customer care centers. The channels to some degree must also be strict to ensure quality service delivery .Creation of global data banks will go a long way in enhancing communication to and from the customers thus boosting their satisfaction (Little, 2005). Reverse logistics may be put in the form of a massive feedback information communication system which must be consistent and reliable.
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Secondly on Promotion, it appertains to the information communication process about the product which is normally aimed at inducing positive customer responses (Benner, 1999).Given the market of the firm advertising decisions should mainly revolve around mass media, with promotional strategies which involves the masses. Publicity should immense and the company should struggle to build considerable rapport with the general clientele base. Through Diggers Inc Formulating well allocated marketing budgets could be an added advantage. Adverts should be publicized on toys that would mostly entice children, through promotion Diggers Inc can increase the publicity and increase sales.
Also on Pricing, decisions should resonate around profit maximization .The pricing strategies may include penetration, skimming ,economy and premium pricing according to Dave Sutton and Tom Klein in their book" enterprise marketing management “ (Little,2005). Discounts for bulk consumption of products and flexibility of prices for regular customers is also an asset to the company in the long run. Diggers Inc scale models should be well diversified to increase profit.
Lastly in Products, which are the tangible physical products as well as services, Diggers Inc should highly differentiate its products from the rest for uniqueness. The brand name must be outstanding and the quality unquestionable .This goes a long way in lure ring the clients. In children toys manifestation one should be well differentiated and ensure good awareness for various goods in the market.
Describe how you believe branding has been used by Diggers Inc to develop its business up to the present.
Diggers inc has to deal with branding so as to promote its business activities, firstly branding involves entire process involved in creating a unique name and image for a product .in the consumers' mind, through advertising campaigns with a consistent theme. Consistent, strategic branding leads to a strong brand equity, which means the added value brought by Diggers inc products or services that allows you to charge more for your brand than what identical, unbranded products command. Diggers Inc can use various methods to for branding and are seen through the following various ways. In these ways one is able to see different ways by which branding has been established and used. Diggers Inc has used several ways of branding to develop its businesses, these include.
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Development of Business’s logo– A %u0261οο%u0501 logo w?%u0196%u0196 give the first impression an%u0501 f??t recall of Diggers Inc. One of the mο?t ?m?οrt?nt factors ?? tο ensures that ?t doesn’t imitate ?n? existing brand designs fοr copyright issues. It’s suggested tο %u0261?t a simple an%u0501 catchy brand name that comes w?th a simple logo. Diggers inc have developed and launched a complete range of "scale models" of all the most famous Diggers Inc machines, plus videos and DVDs of Diggers Inc machines in action, and now children caps and T-shirts on the "I Love DIGS' machines" as the "strap line".
Developments of DiggersInc Core Values- Development of high standards of customer service ?ο that the clients feel that ?ου’re always willing to %u0261ο the extra mile to solve th??r problems. Remember that customers whο %u0261?t %u0261οο%u0501 customer service, come back an%u0501 bring more customers with them.
Development of a Strong Public Image- Diggers Inc has to have some qualities of consistent; it has to keeps a single character οr appearance. Th?? means having a consistent message, trademark, publicity an%u0501 company values. A strong brand w?%u0196%u0196 project an image of a large an%u0501 established business tο potential customers. People usually associate branding w?th %u0196?r%u0261?r businesses that h?ν? the money tο spend οn advertising an%u0501 promotion. Once ?οu ?r??t? an effective branding strategy, th?n ?t ??n m?k? ?οur business appear tο b? much b?%u0261%u0261?r th?n ?t really ??. An image of size an%u0501 establishment ??n b? especially ?m?οrt?nt wh?n a customer w?nt? reassurance that ?οu w?%u0196%u0196 still be around in a few years time.
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Development of Strong Marketing – Another %u0261οο%u0501 reason fοr developing a strong branding strategy ?? to make sales force more effective an%u0501 efficient. When market recognizes the brand, they don’t h?ν? to spend a lot of time with new prospects explaining who they are, what they %u0501ο an%u0501 how they %u0501ο it. This is found where we see Diggers Inc as a high-tech, diversified manufacturer and service provider that is socially responsible and environmentally aware. It as committed to a profitability and sustainable presence in the UK for the long-term benefit of all its stakeholders, not least the communities in which Diggers Inc employees live and work
Development of New Products An%u0501 Services – Another way that branding benefits business ?? that the efforts they make increasing brand awareness, through promoting an%u0501 marketing their brand to their target market. Th?? includes ?n? new products an%u0501 services that they roll out in the future.
Separation of Diggers Inc From its Competitors – Th? main reason fοr ?r??t?n%u0261 strong brand fοr business ?? to differentiate themselves from their competition(Benner, 1999). A strong brand w?%u0196%u0196 deliver message clearly, confirm credibility, connect with target market emotionally, and motivates prospective customers to buy an%u0501 concretes th??r loyalty. This type of branding is seen where Diggers Inc growth of their business is based upon a strategy of pure diversification into related business areas, and a true belief throughout the Diggers Inc organization 'top-down' of being customer orientated. This has led to over 300 individual products now being offered to meet real customer needs. To support this massive organization Diggers Inc enlists the support of 680 dealers worldwide (26,800 personnel), who have a long and established history of working closely with them over many years. Most of them are locally owned and independent businesses
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What marketing communications "tools" would you advise Diggers Inc's managers to use, and why, to promote and communicate the "I Love DIGS Machines" campaign that is on T-shirts and baseball caps.
Companies take various steps to stimulate personal communications about their products and brands. In T-shirts logo Diggers Inc should utilize marketing communications tools and ensure that they promote and communicate their message.
Diggers Inc can use different methods to communicate information, this is by.
1. Identifying influential individuals and devote extra effort on them.
2. Creating opinion leaders by supplying possible opinion leaders with the product on attractive terms.
3. Use of influential or believable people in testimonial advertising.
4. Developing word of mouth publicity by requesting satisfied clients to promote their product among their friends.
5. Establishing online discussion groups and communities
Diggers Inc can classify different communication tools through various ways, by
Advertising is a public mode of communication. Because it is communicated simultaneously to large number of people and people know that the same communication is going to many people, they feel their motives for buying are understood by the advertiser (Benner, 1999). Advertising messages can be repeated number of times. Buyers also can compare advertisements of various companies selling the same product. The media offers the facility to add color, sound etc. to the message and dramatize the message. But advertising cannot have dialogue with the people. People may not see and pay attention to the advertisement. Diggers Inc organization can use this method to establish good communication of the Inc machines in action, and now children caps and T-shirts on the "I Love DIGS' machines" as the "strap line".
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2) Sales promotion
Sales promotion tools like coupons, contests, premiums, and the like acts as communication medium and also promote sales.They gain attention and provide information that may lead the consumer to the product. They include a distinct invitation to the consumer to do the transaction in a short period of time. Diggers Inc can use this too effectively and promote its business.
3) Public relations and publicity
News stories and feature articles are more authentic and credible than advertisements to readers. The articles act as testimonials. The message gets through to the potential buyers as news and they may not turn away from it as they turn away from the advertisements. This communication tool is well important in branding and communicating information to children caps and T-shirts on the "I Love DIGS' machines" (www.diggerresources.com)
4) Personal selling
Personal selling as a communicative channel involves a live, immediate, and interactive relationship between persons. Personal selling leads to relationships. The listener feels obligated to respond to the salesman at least with a polite “thank you.” Children feel more welcome and perceived through personal communication with them thus promoting good communication.
5) Direct Marketing
The alternatives are direct mail, Email, and telemarketing. In these cases the message is addressed to a specific person. The message can be customized. Even though mailing folders and email are normally standardized to gain efficiency. The message can be up to date. In case of telemarketing, message can be altered depending on the response (Efthymios, 2003). In the case of other alternatives subsequent communication can be altered depending on the response. This is due to increase in the connection ways between individuals.
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