Digital Max Technologies, Inc.
- EXECUTIVE SUMMARY
This Marketing Plan for Digital Max Technologies, Inc. has been developed by the company’s marketing manager focusing on the next five years. This marketing plan has been developed with the aim of demonstrating to the management on the various marketing strategies to be adopted by the company over the next five years. The marketing plan is also important to the employees as they will be able to participate in making the company prosperous especially now that it is in its infancy. Digital Max Technologies, Inc has recorded an impressive start for the 2 years it has been operational. There is a high potential for the company to become a major player in the Web Design industry based on the unique concept it is built on. The Company hopes to become a major provider of web solutions by investing in young talents and offering opportunities for good partnerships with technology gurus and the clients. Digital Max Technologies, Inc. is already operating globally as it has clients from over 3 countries namely US, UK and Australia. It hopes to build on this platform to increase its market share over the next five years. The marketing environment has so far been receptive to the company’s services due to the level of professionalism and quality services provided. The company hopes to attract young talents through web design competitions, attractive prizes and attachments as well as employment opportunities. This will be facilitated through the newly established Hackers’ Venom, a project meant to attract young technology enthusiasts and providing them an opportunity to learn complex programming languages and codes used by hackers.
- COMPANY DESCRIPTION
Digital Max Technologies, Inc. is a Web Design Company specializing in the provision of web design services. Digital Max Technologies, Inc. provides web solutions for companies and individuals by undertaking myriad of activities on website development. The company is in its second year of operation. It was established by Mr. Dick Harris and Mr. Rajil Shah. The two directors have been long time friends having met at Duke University. The two are Business and IT graduates. They have worked with various technology companies such as Microsoft and Apple Inc. Dick and Rajil have been technology enthusiasts since their college days and always shared a desire to start a company together. Digital Max Technologies Inc is located in 420 Lexington Ave #300, New York, NY 10170, United States.
The company aims at becoming a leader in the provision of web services to the local and offshore clients. The company targets both small and large enterprises as well as other companies offering web design services. Currently, the company has a client base of 200 small and 150 large enterprises as well as about 500 individuals. The company performs web design, development, hosting and maintenance for its clients. Since its inception 2 years ago, the company has managed to make some reasonable level of sales. However, the initial six months were difficult for the company as it made minimal sales due to client reluctance to give business to the company. However, the past six months have seen a continuous increase in the number of customers.
Digital Max Technologies, Inc. is determined to become a major player in the Web Design and Development market. It intends to increase its current sales. As a service company, the company hopes to be a leader in the provision of cutting-edge web solutions. The company currently has 50 permanent employees. Digital Max Technologies, Inc sources for highly talented young technology enthusiasts especially in colleges, trains them and gives them an opportunity to work for the company. The permanent employees are mostly recent college graduates and few experienced professionals. The company hopes to provide a good working environment for employees to build a successful career in technology.
- DIGITAL MAX TECHNOLOGIES INC.’S MISSION AND GOALS
Digital Max’s mission is to be a leading company in the provision of web design, development and maintenance solutions through establishment of effective and beneficial relationships with clients. The company wants to be the number one provider of web solutions to clients by investing in talented professionals able to provide high quality services to clients. Digital Max Technologies wants to become the ultimate place where talented IT enthusiasts are attracted and maintained for the longest time. The company aims at investing in staff training and acquisition of emerging technology knowledge to be applied in solving the many challenges affecting its clients globally. Consequently, massive resources will be devoted towards research and development.
Some of the main goals of Digital Max Technologies Inc over the next five years include:
- Obtain adequate financing to build high-end software solutions such as antivirus, cloud computing solutions, and various business software solutions.
- Obtaining financing to expand the regional operations by opening offices in at least 5 states per year.
- Increasing the current revenue by 300% per year
- Donating a minimum of $200,000 per year to technological institutes to support technology incubation programs.
- Increasing the number of permanent employees from the current 50 to 500 within the next five years,
- Expanding into new geographical markets such as Asia, Africa, North and South America,
- Establish strong relations with hardware manufacturers such as Apple, Samsung, HP, IBM, Sony and many other players to develop software used in their products.
- Developing an effective company website capable of serving customers all over the world.
- CORE COMPETENCES
With only 2 years of existence, Digital Max Technologies Inc has set itself apart as a modern technology company with a noose for excellence and desire to invest in highly talented professionals. The company has emerged as a major player in the provision of web solutions by embracing sophisticated programming systems safe from the increased cyber challenges of the modern business. The company’s approach towards understanding the complex codes through which hackers operate gives it an advantage over its competitors as businesses and individuals prefer web developers with knowledge of the loopholes used by hackers. Digital Max Technologies has an elaborate business relationship with its clients and staff.
- SITUATIONAL ANALYSIS
There are overwhelming opportunities Digital Max Technologies to increase its market size. Hover, there are various challenges facing the company as it is a start up. A SWOT analysis of the company presents the true picture of the situation facing the company. Through marketing research undertaken in the first year of the company’s operation, it was possible to establish the strengths, weaknesses, opportunities and threats facing Digital Max Technologies Inc. SWOT analysis has helped in the development of appropriate strategies for the company.
- Digital Max has invested into highly talented young professionals enthusiastic about developing new web solutions
- The company has established strong partnerships with major hardware developers to offer web software solutions to these companies and other companies in different sectors
- Digital Max Technologies employees have an extensive understanding of the complex operation of hackers thus able to develop web solutions safe from being hacked
- Research and development form an integral component of Digital Max’s operation.
- Digital Max Technologies has limited resources to expand its operations to numerous locations globally.
- Although Digital Max Technologies has invested heavily in talented staff, most of the employees lack long experience in the web design solutions as they are recent graduates.
- The Company’s pursuit of training staff on sophisticated codes and programming languages used by hackers could be used against them by staff exiting the company.
- The company does not have an elaborate diversification strategy on its web design solutions.
- The advancements in technology in the modern world mean that every company requires an effectively developed website with full web solutions. This means that Digital Max has a great potential of designing and maintaining websites for many companies and increasing its sales.
- The massive investment in highly talented technology enthusiasts is a good opportunity for Digital Max to enhance professionalism in its service offerings. Professionalism and high quality services are essential for growth in market share and continued profitability.
- The upsurge of highly technologically savvy generation of hackers has brought about serious challenges to corporate entities and individuals afraid of being victim of cyber crimes. Digital Max has an opportunity to attract major corporate entities and individuals of high net-worth due to its ability to develop web solutions difficult for hackers to manipulate.
- The series of technology competitions supported by Digital Max to source for fresh IT talents and offering internships and employment opportunities is a great marketing strategy. The company is also guaranteed of the best talents in the industry thus attracting serious clients such as major corporate entities.
- There are multiple players in the web design industry. Some of the companies have been in the industry for a very long time and have a large market share. Such companies are a threat to Digital Max in its attempt to grow its market share.
- Training employees to understand the secrets of hackers makes them very attractive for major players to poach them with promise of very attractive compensation.
- Digital Max lacks adequate financing to compete effectively with major players with enormous market share.
- MARKETING STRATEGIES
- Target Market (s)
Target market 1: Large corporations with massive network of dealers, brokers and distributer networks as well as large manufacturers. These corporate bodies require effective web solutions to facilitate their numerous activities. Again, such large corporations are very busy hence do not have the time to concentrate on designing, developing and maintaining best-of-breed web solutions.
Target market 2: Corporations in the nonindustrial and nonmanufacturing segments and mainly dealing with business-to-business market but having extensive networks of customer base such as financial planners, medical services and banking institutions. These corporate institutions demand a high level of data safety especially for online transactions between banks and customers which may attract hackers. Digital Max’s background of unmasking hackers’ techniques is vital for such corporations as they can be assured of effective web solutions.
Target market 3: Social websites providing a platform for people from all over the world to interact and share information. These social websites are highly vulnerable to hackers who can steal personal data and use it in perpetuating cyber crimes.
- Marketing Mix
- Product Mix
Digital Max Technologies Inc provides web solutions to numerous corporate entities and individuals. Digital Max aims at empowering small, medium and large firms as well as providers of web solution with highly specialized and sophisticated web design solutions. The company offers unparalleled high quality web solutions to major corporate entities relieving them from the agony of worrying about safe and functional websites. Digital Max Technologies delivers custom made website services and solutions from the numerous highly qualified professionals. Over the next five years, the company hopes to expand its web solutions to cover diverse regions but investing in high quality services.
- Price Mix
Digital Max Technologies is aware about the competitive nature of the market it serves. On the other hand, it is well aware of the importance of providing high quality services to customers. Although all the clients prefer minimal prices, most of the target markets for Digital Max Technologies are very much concerned about the safety of their websites and other soft data. Most of the clients are after the safety of their websites even though they pay more. Therefore, Digital Max Technologies has set itself apart ahead of the pack by providing very high quality and reliable websites. The company charges reasonable prices to its clients based on the size and the nature of services to be offered. The company has adopted a value pricing strategy to ensure customers feel that they are getting the worth for their money.
- Promotion Mix
There are various ways through which Digital Max communicates with its clients. Most of the company’s clients are continuous and long term. However, the company needs to increase its client base. The company hopes to undertake an extensive campaign in increasing its client base by advertising through various media such as TV adverts, social media, business-to-business marketing and personal selling to selected clients. The company hopes to offer its package of high quality web solutions on promotional basis. This is meant to take up much of the marketing expense. The company hopes to implement continuous client drive campaigns through intense promotional strategies.
- Distribution Strategy
Direct marketing is the main strategy used by Digital Max Technologies Inc. The company offers web service solutions. The services may be sold online and fully launched for clients in different locations of the world. However, maintenance of the services involves deployment of the company’s professionals to the clients’ premises for routine maintenance. The company hopes to recruit more staff over the next five years to enhance the distribution of the company’s services.
- BUDGET, SCHEDULE, AND MONITORING
So far, Digital Max Technologies Inc has had a great head start. It has established a strong background with raw talent in colleges through the incubation strategy. The company hopes to invest ample resources in expanding the program to cover more colleges apart from the few currently covered within New York. This program will take up 10% of the total marketing budget. Advertising through the media especially through TV commercials will take up 30% of the total marketing budget. The company will also spend 20% of the marketing budget on social media promotion. Social media is the way to go in the current highly social society. The company will also undertake personal selling strategies by targeting major corporate entities to showcase the quality of services offered. Personal selling will take 20% of the total marketing budget. The remaining 20% of the budget will be spent on marketing the company’s services during major events such as trade fairs, conferences, and events attended by several corporate entities. The budget estimates apply for each financial year. Revisions and adjustment of the budget will be done based on the prevailing market conditions in the future.
In order to evaluate and monitor the progress of the company marketing plan, the actual performance and objectives will be analyzed on a regular basis especially after every four months. Various marketing objectives will be undertaken through specific procedures adopted by the company. Indeed, the implementation of the marketing plan will be monitored through a project management concept. This will be based on the analysis of resources such as time, human capital, budgetary expenditures and finance. A comparison of the planned and actual activities will be undertaken on quarterly basis. The team tasked with business analysis will report their findings to the directors. The marketing plan will be implemented through analysis of the outcomes of the various planned activities. Any deviation from the plan will be reviewed and adjusted accordingly. Digital Max Technologies has just started expanding its horizons. The company does not have any plans of exiting this market in the near future. As indicated in this marketing plan, Digital Max Technologies aims at growing its market share through establishment of strong partnerships with major corporate entities and individuals.