Major Tech Corporation CMS Feasibility Report

This report assesses the feasibility of Major Tech Corporation's strategy to expand its clientele using a Client Management System (CMS). It examines current CMS trends (cloud-based, social, and mobile), conducts a risk analysis, and details the research approach and methodology (inductive, using primary and secondary data). The report includes a product marketplace analysis, financial projections (a cash flow statement is provided), a marketing approach (including marketing mix and STP strategy), organizational and staff requirements, technology considerations, and a product description. Finally, it presents findings and recommendations based on the research.

REPORT

Table of Contents
INTRODUCTION...........................................................................................................................1
ASSIGNMENT................................................................................................................................1
REFERENCES................................................................................................................................8

INTRODUCTION
The report is based on Major Tech Corporation for checking the feasibility of the strategy
which they had made. They are trying to expand the existing clientele with the Client
Management System (CMS). The present report includes current CMS trend, risk analysis,
research approach and its methodology, marketplace of product, financial projections, marketing
approach, organizational requirements, staff requirements, technology considerations,
description of product under review and the findings with recommendations. With the help of
feasibility study company can take decisions regarding the implementation of strategy.
ASSIGNMENT
CMS Trends
The top recent trends have found in client management system which can be explored are
as follows:
Cloud-based CMS – The continues rise in cloud computing services and CMS has not been left
behind in this area. For gathering customer data, cloud-based software is a cost efficient data
which can be proved profitable to the company(The top 6 Trends in Customer Relationship
Management (CRM). 2017). Cloud-based applications are continue progressing, therefore cloud-
based CMS will gain momentum.
Social CMS – The power of social CMS is very wide in the market. Companies are paying
attention on the social media marketing which is still remain in trend. Customers are empowered
by the social networking sites to influence product. Companies can expect feedback to reach
potential markets. Now the vendors of software are responding to social CMS needs.
Mobility – Now a days mobility has turned into a critical business component. The PCs are no
longer in use for accessing data by the customer(Soltani and Navimipour, 2016). The perception
of the customer not only build by the real-world involvement, but also by the mobile and online
experiences.
Risks and issues
The customer care or customer service is growing fast in the last few years. This covers
under the client management system (CMS). Its main focus on retention of customers by
gathering data from them either through phone, mail or web. But there various types of risks and
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issues are associated with implementation of CMS system into the organization like Major Tech
Corporation(What are the risks involved with Customer Service?. 2014). Company has to analyse
the risks and should try to overcome from them. The risks and issues are as follows:
 Client Management System may be go fail or fragmented, if the implementation is
wrong.
 The new methods may not work in customer service and the cost which is related to it.
 Lack of interpersonal skills for the interaction with customers and make them embarrass
and frustrate.
 Due to the lack of coordination among the order-entry system or the infrastructure, then
there may be chances of not responding the market demand.
 Inefficient staff for handling the CMS system that may be dissatisfy the customers or
clients.
 Customer needs and demands are not respond correctly due to the static (not timely
updated) web pages.
Research approach and methodology
The Inductive research approach has followed in this research. This approach starts with
the final stage of scientific research, observation and the work which is done before developing
the hypothesis(Navimipour and Soltani, 2016). It is also called as inductive reasoning. In this
research there are no theories applies at the starting of the research. And the researcher is free to
change the direction of the study after the commencement of research process. Learning from
experience is the basis or inductive reasoning. The researcher of this approach use observations
for building an abstraction which is being studied.
The primary and secondary data collection methods have been used in the research. The
primary data collection includes first hand data which is directly taken by the customers through
the questionnaires(Anshari and et.al., 2015). This gives more appropriate information from the
side of customers and company can easily use this data. The targeted customers can be addressed
and the interpretation of data is much better. The data is reliable and more appropriate. However,
it is time consuming and high cost involvement. But it is followed by most of the companies.
And the secondary data involves the information which is collected through internet, books and
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journals. These are very helpful in knowing the past data. These can be used as the base for
enhancing the further performance.
Schedule
The schedule for conducting the research is as follows:
From a research goal or research question – The goal and objective of the research are to
be set. Then the formulation of question is to be done. This is very challenging task for the
researcher and it can be take a long time. It requires good sense for the literature in this field and
prevailing theories for the getting the real success. Because the whole study is based on literature
and theories. The in-depth study is needed here for the specific area. It has scheduled for 1-2
weeks.
Figure out where to conduct the study – It is possible sometime that the question itself
clear about that where to carry out study. Here the area for study is customer at the marketplace.
The questionnaires are get to fill by the customers for taking their views about the product or
services which are offering by the Major Tech Corporation. It has scheduled for 5-6 days.
Figure out how to conduct the study – This is a very big question for the researcher that
how he will conduct the study. In this research the study will start with market survey for
interaction with the customer. The loyal customers will definitely respond to the questionnaires.
It has scheduled for 2-3 weeks.
Product/Service Marketplace
The marketplace means the target market where the product/service is going to offer to
the existing as well as potential customer. Major Tech is planning for launching the CMS
product into the market. Before getting down into the market, company analyse its marketplace
for product. By doing this company can easily identify its customer and accordingly the CMS
system applies. The product marketplace is where the product is to be launched. And the service
marketplace is where the services are to be offered. The company can keep eye on the competitor
by doing the market study. The product or service must be reach to the desired customer. If the
company approaches the people who don't want their product then its just the wastage of time
and cost. Therefore, the marketplace of product or service must be identified correctly and
appropriately. The sale of product will increase only when it is offering in the accurate
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marketplace. In order to taking feedback from the customers then it can be clearly identified by
the researcher and that will help in the study.
Financial projections
Forecasting of future revenues and expenses is to be termed as financial projection. For
the prediction of external market factors, the projection will typically account for historical or
internal data(Karadag, 2015). Company develops financial projections for both short as well as
mid -term.
The Cash flow Statement for CMS product of Major Tech Corporation is as follows:
Cash flow statement Pre-Operating year (£) Year 1 (£) Year 2
(£)
Year 3
(£)
Opening Balance 232000 223533.
3 241820
Cash Sales 150000 180000 216000
Owner's capital 150000
Bank Loan 200000
Total Cash Inflow 350000 382000 403533.
3 457820
Cash Outflow
Fixed Assets 50000
Market Research 15000
Utilities (Electricity/water/telephone) 20000 21400 22898
Legal help and permits 18000
Promotion and advertisement 8000 8800 9680 10648
Rent on premises 8000 8800 9680
Interest 10000 6666.66
7
3333.33
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Insurance 7000
Web Maintenance Costs 5000 5000 5000 5000
Salary 30000 33000 36300
Miscellaneous Expenses 15000 10000 10500 11025
Loan Repayment 66666.67 66666.6
7
66666.6
7
Total Cash Outflow 118000 158466.7 161713.
3 165551
Closing Balance 232000 223533.3 241820 292269
Marketing approach and strategy
Marketing Mix – The marketing mix is consist of 4 P's which are product, place, price
and promotion.
 Product -: A new product which is offering by the company Major Tech is CMS product.
This product will help in maintaining customer relations with the company that builds
customers loyalty towards it.
 Place -: The marketplace for Major Tech's product is where the large number of
customers are available who are ready to buy this CMS product.
 Price -: The pricing strategy that can be followed by the company (Major Tech) is
penetration pricing strategy(Kumar, 2015). As the product is new in the market so it will
take time in creating awareness among the potential customers.
 Promotion -: The company can promote its product through social media, publishing in
business articles or newspapers and also through free demonstration.
Marketing strategy – Now a days STP is become very much popular in modern
marketing. The company can follow STP marketing strategy for launching the new product
CMS.
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 Segmenting -: Segmenting is a brainstorming activity for the company's manager. All the
potential market segments are to be list out on which company could target. In this case,
Major Tech can do segmentation on the basis of geographical region.
 Targeting -: Company select target market after the segmentation. The target market for
Major Tech can be those companies which wants to build strong client relationship for
the retention of customers.
 Positioning -: The last step in this marketing strategy is the positioning of product. It is
very important for retaining the customers that they must fully satisfy with the product
and the services as well. Product positioning makes the customer more loyal toward the
product.
Organizational needs and requirements
Financial needs – For the launch of new product into the target market, company requires finance
for it. Because various types of expenses will take place like advertisement expense, publishing
expense, promotional expense. Some other expenses may be there such as hiring of staff and
miscellaneous expenses(Kumar, 2015). For the financial needs Major Tech can either use its
retained earnings or go with debt amount if financial condition allows for debt.
Information requirements – Company requires some essential information about the market
which will going to help in knowing the market trends. The pricing and promotional strategies
can be get affected by these(Sheth and Sisodia, 2015). Hence, it is require to collect information
through internet or market survey.
Staff resourcing requirements
The requirement of additional staff will be raise in Major Tech. The separate team will be
allotted for the successful launching of new CMS product into the market. If the large number of
staff will engage in this department the other activities of the company will hamper. The
sufficient number of staff should be included in the team(Seringhaus, 2015). There are
requirement of 25-30 number of staff for the CMS product. This number will be sufficient for
making the strategies in launching of the product.
Technology considerations
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As Major Tech is IT company so it gets affected by the changes in technologies. The pros
and cons of the technological changes that should be considered by the company. The pros of
CMS product are: it makes the work in more easiest way, it can be used by any IT professional,
it gives better and appropriate results, easy to operate, it is time saving product and it is
affordable(George, 2015). The cons can be identified as, the frequent changes taking place in
technology advancement, so it will require continuously up-gradation, it require technical skills
to operate and it costly for small companies. The company should take consideration over the
pros and cons for presenting the features of the product.
Product/Service description
Product description – CMS product is highly designed by the company (Major Tech). It
covers all the possible aspects for the customer relationship management. Customer can installed
by giving the price of the product. It does not take much time to generate results. It takes
reviews from the clients in best possible manner(Cross, Belich and Rudelius, 2015). It indirectly
helps in generating more revenues. It is affordable in price. It is time effective product. Services
are also providing by Major Tech. The yearly checking out of CMS system. Customer can call
any time when they face any type of problem in the system. All time customer care is available
at the company.
Findings and recommendations
The findings and recommendations of the study are as follows:
From the above study the recent trends in CMS are to be analysed as Cloud-based CMS,
Social CMS and Mobility. After analysing the recent trends Major Tech can formulate strategy
in more effective way. There are various risks and issues are involved in introducing the new
product into the market. Like failure of product, customer can resist to adopt the new product etc.
The inductive approach of research can be adopted. The data collection methodology is primary
and secondary. The schedule has planned for approximately one and half month for the research.
The product marketplace has been discussed in the study. The financial projection has explained
through cash flow statement. The marketing mix approach and STP marketing strategy have
recommended to the company. And it also suggested that organizational needs and technology
changes taken into consideration.
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REFERENCES
Books and Journals
Karadag, H., 2015. Financial management challenges in small and medium-sized enterprises: A
strategic management approach. Emerging Markets Journal. 5(1). p.26.
Soltani, Z. and Navimipour, N. J., 2016. Customer relationship management mechanisms: A
systematic review of the state of the art literature and recommendations for future
research. Computers in Human Behavior. 61. pp.667-688.
Navimipour, N. J. and Soltani, Z., 2016. The impact of cost, technology acceptance and
employees' satisfaction on the effectiveness of the electronic customer relationship
management systems. Computers in Human Behavior. 55. pp.1052-1066.
Anshari, M., and et.al., 2015. Social customer relationship management and student
empowerment in online learning systems. International Journal of Electronic
Customer Relationship Management. 9(2-3). pp.104-121.
Kumar, V., 2015. Evolution of marketing as a discipline: What has happened and what to look
out for. Journal of Marketing. 79(1). pp.1-9.
Cross, J. C., Belich, T .J. and Rudelius, W., 2015. How marketing managers use market
segmentation: An exploratory study. In Proceedings of the 1990 Academy of Marketing
George, W. R., 2015. Internal marketing for retailers: The junior executive employee. In
Proceedings of the 1984 Academy of Marketing Science (AMS) Annual Conference (pp.
322-325). Springer International Publishing.
Seringhaus, F. R., 2015. Export knowledge, strategy and performance. In Proceedings of the
1988 Academy of Marketing Science (AMS) Annual Conference (pp. 97-101). Springer
International Publishing.
Sheth, J. N. and Sisodia, R. S., 2015. Does marketing need reform?: Fresh perspectives on the
future. Routledge.
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