PRECISE SOFTWARE CASE ANALYSIS
Problem:
When and how to introduce an end-to-end new product to the market?
Issues:
1. Should we (Precise) introduce a new product in Open World conference 2000? What could be the impact if we delay to offer an end-to-end solution in the performance management space?
2. What is the best selling strategy for the new product?
3. What is the best pricing strategy for the new product?
4. Should we maintain a single sale force or separate sale force dedicated to the new product? What kind of commissions and how much authority should we set up for the sales force regarding to the new product?
5. How can we deliver the value of the new product to meet our customer expectation
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Quest Software offered around 25 different products, with some of the functions offering products relevant to Precise.
Marketing Mix Analysis:
A) Product Analysis:
Precise offered the software that helped its clients to manage the performance of their information technology (IT) systems. Precise is in the performance management and availability market. Its products are designed to manage the performance applications utilizing Oracle database. The company had focus on a small range of core products but provided users high quality that promised. Precise offered the software license and services. The main products were insight products, SQL and Presto. Precise/SQL accounted for 86% of all Precise’s software licensing fees. The company has strong trained account reps with very strong relationships with key clients. End-to-end response time is extremely important to ensure the system ran efficiently and effectively. All of the available products focused on the performance of each of the components of the system. The sales cycle is 6 to 12 months on average. Precise realized from the feedback of its consumers that they should provide right solutions to its clients rather than the products. However, a full-functionality end-to-end performance tool needs a long time to be developed. It’s going to take six and nine months to get a basic product with purely monitoring only. The fully
Goals in the company are to find the right product for the customer’s particular needs and build a relationship with the customers
2. Given the markets the company is operating in, what is the best structure for the sales force? How did you decide?
Focus on Customer lifetime value | Drive innovative new ideas | Deliver continuous process improvements
Microsoft really needs to wake up before they get smacked in the face with more fines from the EU Courts. Some alternatives that Microsoft might be able to use would be only releasing an XP N operating system in the questioned markets. They also need to act more quickly to requests of the EU Courts. The Courts are not going to wait years upon years for their requests and documentation to be finished and submitted to them.
For these reasons IBM decided to give up the structure, machine bureaucracy, used for many years and to adopt a divisional structure.
Stryker is a global medical device manufacturing company. The Instruments Division is located in Kalamazoo, Michigan. It was founded by Dr. Homer Stryker, an orthopedic surgeon. Dr. Stryker discovered that certain medical devices were not meeting his patient’s needs. Because of this, Dr. Stryker decided to invent new ones. The devices he invented were successful, and the interest in Dr. Stryker’s products began to grow. As a result, in 1941 he decided to start a company to produce them.
In early April, ABC Inc., needed to recruit several new hires. These new trainees needed to be ready to work by June 15. During this case study we will discuss the problems that the company and its workers had to confront. Carl Robins had been hired six months earlier as the campus recruiter. He had just graduated from a community college and was extremely excited to commence his work at ABC Inc. Carl was known as an industrious man, who had to work his way through to college. Coming from a low income family, Carl had to attend school and work full time to pay for his education. This was Carl’s big opportunity to begin his lifelong journey. Monica Carrolls had worked for ABC Inc., for more than 25 years as
In a highly competitive environment, organizations are convinced that the launch of new products in order to stratify the need of consumers can lead to an increase the success of a company. The strategy of launching new products can be successful but it remains some risks. Indeed, the launching from 30 to 35 % of new products has failed. Because of some factors like the high level of advertisement costs and the increasing competition, it becomes more and more difficult to introduce new products on the market.
The Company should design and manufacture its products so as to improve the customer experience.
System performance is one of the most critical issues faced by companies dealing with vast amounts of data. Companies use database systems and their applications to store, retrieve and handle this data.
When developing a product you should consider quality, design, features, packaging, customer service and any subsequent after-sales service.
The company must research to find out what exactly the customers desire and provide a similar commodity for them. Various specs of the product, such as size, color and packaging, must be appealing to the consumer.
Value Creation – Economic Value, Offering Design, Segmentation. Product manager face challenge as they are expected to set prices that capture the value offered by their products that also maximize price. Typically turns to marketing, where research is completed. Example research shows 10% higher customer response, but doesn’t gaurntee payment of 10% more.
The product needs to be built, which also builds your brand status in the economic market; in this there should be some of the perfect action to solve it or to build the expected system (Gobysavvy,2015).
5. Customer empowerment: Customer increasingly expects higher quality and service and some customization. They are more and more time starved and want more convenience.