Lsm522 100 Essay

1393 words - 6 pages

LSM522
Applied Marketing Strategy and Decision-making Tools

Course Journal

As you progress through this course, you keep a journal in which you answer marketing strategy questions about a product or service at your company. This Course Journal is for your personal use; you will not be asked to share it or submit it for review, although you will include excerpts from your Journal in the required final project that you submit at the end of the course.

This Course Journal document consists of four parts that you will complete in sections as you progress through the course. Save this document to a convenient location on your computer so you can easily access it later in the ...view middle of the document...

1. Identify and describe the segments of your market. Be sure to include the size of each segment. What variables make these segments distinct and possible for your firm to identify?
The company I work for delivers services to various different market segments as we focus of delivering operational efficiencies by improving the base process which is used to deliver any operation.
The key market segments that we focus on are:
• Finance and Accounting – 60%
• Healthcare – 20%
• Banking and Financials -7%
• Insurance – 5%
• Industrial Manufacturing – 5%
• High Tech – 3%
We are a global leader in transforming and running business processes and operations, including those that are complex and industry-specific. Creating an impact is visible in tighter cost management as well as better management of risk, regulations, and growth for hundreds of long-term clients including more than 100 of the Fortune Global 500 – and of those, over 10 of the top 25. Our approach is distinctive: through an unbiased, agile combination of smarter process science, targeted technology and advanced analytics, we help our clients become more competitive by making their enterprises more intelligent: adaptive, innovative, globally effective, and connected to their own clients.
We have been delivering operations since 1997 and have developed a market reputation of delivering sustainable operations and increasing the RoI for our customers. Finance and Accounting was the first area of expertise and we have created a benchmark for delivery in the industry.
Process Standardization, Improvement and Six Sigma have been the key to our success since the beginning.

2. Which market segment(s) are you targeting and why? Which ones are your competitors targeting?
Our company is targeting the growth in the following segments:
• Finance and Accounting
• Healthcare
• Banking and Financials

The above segments have been identified
3. List at least one segment you are not targeting. Why not?
Utilities are one of the segments which has been agreed not to target in the blue print for the future.

Key reasons:
• There are already too many providers in the market servicing this sector
• In the past, we have not had major success in this business vertical
• Limited/no domain knowledge is available in the company
• Demand for our current verticals is very high in the market

4. Revisit the 3-Cs work you did in the previous section of this Journal. Would you recommend a change to your segmentation and/or targeting? Explain.
My company is amongst the top 4 in the BPO market and we are known for our expertise in Process and Six Sigma in the industry. The journey started in the captive market and over a period of time, we have developed our expertise in providing robust solutions to our clients with having a Net Promoter Score of 64%, which is even higher than Apple’s.

The above shows that the...

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