Management Information System BA 602

Group Project – A

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Contribution by

Chaitanya Kessara (546298)

Hero Motor Corp

Topics Assigned

1.      IT and Marketing Strategies to capture the niche market

2.      Effect of Social Media

 

 

 

 

 

 

IT and Marketing Strategies to capture the Niche Market

The effective and fruitful business is working in a situation described by information, dynamism, and globalization, driving it to be adaptable and respond rapidly to changes in the market. Business’ response is the aftereffect of the consistent, precise, and quick stream of information conceivable through information systems and information innovation (Avramovic, 2010). The constant improvement of correspondence and information advances has had profound ramifications on organizations and business capacities like deals and marketing, acquisition, fund and bookkeeping, innovative work. As indicated by Brady (Brady, et, al., 2008), innovation has supported the advancement of relationship marketing, which enhances the connection between the shopper and friends contrasted with the traditional value-based marketing blend involving the 4P’s. It is vital to understand the idea of marketing methodology to appreciate the effect of innovation on the procedure. This is fundamental since there is an absence of clarity in literature as a few researchers recognize focusing on, division, positioning, and separation as marketing strategies. In a similar expansiveness, other researchers distinguish marketing blend components or the 4-Ps blend including item, valuing, advancement, and place as marketing strategies (Ansary, 2006). The association of innovation in marketing system prompts enhanced correspondence, better item substance, and association in a market between buyers, organization, and competitors. Innovation like the web manufactures brands with a better substance that associate with purchasers and give an organization competitive favorable position over competitors. Therefore, marketing procedure definition is an iterative and intuitive process that plays out the grouping including understanding customer conduct, portion the market, select target fragments, plan the offer to fit the objective market needs, position it in the customer’s minds, and separate the offer (Ansary, 2006).

 

Figure: The Impact of Technology on Marketing Strategy

ICT is a composite term that encapsulates three imperative ideas, to be specific” information”, “correspondence” and “innovation”. “Information” in a logical setting can be viewed as handled information that is acquired from, for instance, business records and solicitations. Information is a basic part of basic leadership and influences the management of learning in the authoritative setting. In spite of the fact that conceptual, information can likewise be envisioned as a commodity which can be purchased or sold (Womboh and Abba, 2008). Furthermore, it can be characterized as any correspondence or portrayal of learning, for example, realities or sentiments in literary, numerical, realistic, cartographic, story or varying media shapes.

Organizations in the assembling sector create a tremendous measure of information yet are not ready to use the same to accelerate development, support productivity and customize items for an always demanding customer. Software and Information Technology (IT) capabilities can be utilized fundamentally in the domain of assembling – from ideation, demonstrating and recreation to testing, offering, and after-deals benefit. At Hero MotoCorp, the territories where digitization has occurred incorporate customer knowledge and achieve, operational efficiencies and productivity, and in growing new plans of action. For a mobility-centered organization, the drivers have been (Vidooly, 2016):

1. Technology Push: Affordable wired and remote communities, and propelled innovations, for example, sensors, HMI, associated gadgets, and investigation.

2. Consumer Pull: Consumers who have adjusted to digital innovations and the ones who need to stay associated.

3. Socio-Economic Forces: Increasing competition and obscuring industry limits. Digital change, therefore, is not anymore a matter of deciding that an association can make.

At Hero MotoCorp, the three territories clarified above have gotten various initiatives of Digital Transformation. On the customer front, the whole experience of obtaining an item is getting digitized with opportunities to put in a request through an online B2C marketplace. The after-deals encounter is currently accessible through a Hero Xperience application which tracks benefit coupons, due dates, upkeep and additionally monitors the vehicle execution over some undefined time frame. Digitization in business has certain ramifications on the general population front as for making an innovation shrewd culture and enhancing digital IQ. This thusly brings its own particular arrangement of difficulties, since individuals require some serious energy in moving towards digitization. Research demonstrates that it is just 2% of individuals, in our setting representatives, who are early connectors and this is the central gathering which one should use to affect the staying 98% of the association. Recognizing those 2% and including them in the whole procedure would characterize how fruitful an association is in the digitization travel.

With the digital change, in any case, there are few rising difficulties that associations think about in the way ability is gained, created and prepared, and how social stages are utilized to empower cooperation within the association. Hero MotoCorp are actualizing a SAAS-based Integrated Talent Management Platform, which not just touches the lives of the Internal Talent Pool yet additionally the accessible ability pool outside of the association. This multi-pronged methodology is centered around recognizing the rising abilities and aptitudes by implanting them as a piece of our ability improvement and acquisition structure. Likewise, social media is being utilized to assemble Brand of Hero in the mind-space of potential ability and in addition accomplices.

 

 

 

 

 

 

 

 

Effect of Social Media

Social media increased quick conspicuousness within a couple of years of its reality. It is, for the most part, the medium to socialize and numerous are awed by the change of interchanges forms particularly among ages Y midwived by the media stages. Social media has now crawled into the meeting rooms of business associations and simply like the web; it has changed the offering and purchasing forms. In spite of the fact that social media is a current Marvel, it has turned out to be similarly as effective as or significantly more effective than traditional marketing. A few associations now battle to have a nearness in the web keeping in mind the end goal to interface with customers far and close. As the name infers, social media systems implied as sites where people could socialize, meet old and new companions and associate with each other. Similarly, as the web was connected into business associations from the military, so likewise the business estimation of social media systems ended up plainly clear and picked up the consideration of business directors and turned into the closest companions of marketers in practically all associations with nearness on the web (Bacon, 2011). The social media organize community administrations are bunches focused and considered as a social system benefit. Social systems are substance made online by individuals utilizing exceedingly versatile and open correspondence advances. It speaks to how individuals find, read and offer news, information, and substance. Social system applications give clients new types of strengthening and methods for information sharing. Customers can convey web-based trading information, remarks and item audit passed the marketer’s control (Kietzmann, 2013).

(Stelzner,2014) in his 2014 report distributed by Social Media Examiners focused on that the top two benefits of social media marketing are expanding introduction and expanding the movement. The report further uncovered that a huge 92% of all marketers demonstrated that their social media endeavors have created more presentation for their organizations. Expanding activity was the second significant benefit, with 80% detailing positive outcomes. These days, nearly everybody and each association have a nearness on the social media, especially the prominent ones, for example, Facebook, Twitter, Tumblr, LinkedIn, Instagram, Google+ and Pinterest. As at March 2015, there were 1.415 billion dynamic clients on Facebook and 288 million month to month dynamic clients on Twitter. With the unstable youth populace in Nigeria, you can envision what piece of those insights we gloat as a country. In any case, most corporate nearness and notorious nearness (noticeable people) on the social media are minor nearness with no stamped center, procedure, or goal to draw in the overflowing on the web open/market (Agwu, et, al., 2014). This problem is to a great extent too because of not recognizing what it takes to keep up an energetic online-cum-social media nearness. (Bacon, 2011) called attention to that there are 4 nuts and bolts to keep up a fruitful on the web and social media nearness. They are:

Contents: Content is the foundation of social media. Unless you distribute new, significant information all the time for your group of onlookers to expand, you’re on the web and social media stages won’t command activity. Social media accounts that don’t produce new substance are viewed as dead.

Engagement: the second nitty-gritty for running a fruitful on the web/social media battle is gathering of people engagement. Associations and people who draw in their online group of onlookers are by and large observed as well disposed and responsive in addition to numerous other positive discernments, all of which convert into deals, support, altruism, brand connection, steadfastness and a multitude of brand envoys who will go to any length to advance/guard your name, brand, item, administration or cause.

Skills: There are blend related abilities required to drive a dynamic social media nearness running from illustrations, look into, outlines, backend management, examination, improvement, monitoring, and so on. Not knowing which to send, when and how to convey it or using them wrongly is a certain street to virtual comatose or fiasco.

Consistency: Knowing what to do to have a triumphant social media nearness and how to do it doesn’t ensure achievement unless such information is supported by careful endeavors and commitment to doing it all the live long day. The absence of consistency accounts generally for the online disappointment of multinationals, institutions and open figures, who have all it takes and in addition the monetary allowance to be energetic and noticeable on the web, yet whose activities there is a fuss (Bennett, et, al., 2014).

As indicated by an industry think about my video knowledge organization Vidooly, Hero MotoCorp is India’s most saw auto brand on online in India. Hero MotoCorp developed as the main auto brand averaging more than 1.3 million perspectives crosswise over video sharing stages, for example, Youtube, Facebook, Twitter, and Instagram. Hero MotoCorp is trailed by Audi India with a normal of 524,000 perspectives crosswise over social media. Chevrolet India takes after a nearby third with a normal of 414,000 perspectives crosswise over social media. Mahindra and BMW India take the fourth and fifth spot with a normal of 179,000 perspectives and 165,000 perspectives online separately.

 

 

 

References:

1.      Avramovi?, M., (2010): Information Communication Technology in The Function of Improvement of Competitive Position of Tourist Destination. Economics and Organization, 2010. 7(2).

2.      Brady, M., M. R. Fellenz, and R. Brookes, (2008): Researching the role of information and communications technology (ICT) in contemporary marketing practices. Journal of Business & Industrial Marketing, 2008. 23(2).

3.      El-Ansary, A. I., (2006): Marketing strategy: taxonomy and frameworks. European Business Review, 2006. 18(4).

4.      Womboh BSH, Abba T., (2008): The state of information and communication technology (ICT) in Nigerian university libraries: The experience of Ibrahim Babangida Library.

5.      Icha Oyza, Agwu M. Edwin, (2015): Effectiveness of Social Media Networks as a Strategic Tool for Organizational Marketing Management. J Internet Bank Commer.

6.      Sanjay J., (2016): Digital transformation journey of Hero MotoCorp. Available at https://www.peoplematters.in/article/hr-technology/digital-transformation-journey-of hero-motocorp 13866?utm_source=peoplematters=interstitial=learnings-of-the-day

7.      Vidooly, (2016): Hero MotoCorp is most viewed Indian auto brand online: Study. Available at https://brandequity.economictimes.indiatimes.com/news/digital/hero-motocorp-is-most-viewed-indian-auto-brand-online-study/53874926

8.      Bacon, J., (2011): Impact of Social Media on Marketing Industry. Fourth Source.

9.      Kietzmann, J. C., (2013): Bittersweet! Understanding and Managing Electronic Word of Mouth. Journal of Public Affairs 13.

10.  Stelzner, M. A., (2014): How Marketers Are Using Social Media to Grow Their Businesses. SocialMedia Marketing Industry Report.

11.  Agwu, M. E., Carter, A. L., (2014): Mobile phone banking in Nigeria: benefits, problems, and prospects. International Journal of Business and Commerce 3.

12.  Bennett, S., (2014): The 10 Biggest Challenges Facing Social Media Marketers. Social Times.

 

 

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