Secondly CDSrail is constantly undertaking market research to ensure the right products are being developed and distributed correctly.
Finally CDSrail attends trade shows to showcase there products and place adverts in relevant industry journals. An example of this is in Rail engineer magazine. CDS set out article called “The Leading Supplier of Remote Condition Monitoring Systems and Support to the Rail Industry”. This article basically set out who the company is, what the company does, the products they company have made and are currently working on, what they companies achieved, and finally where the company is heading
To maximize profit we need to be creating our product at a low price and selling at a significantly higher price which includes the cost incurred creating the product. A way in which cds rail is maximizing profit is ensure that every person is well fitted to their job. Rather than have two people doing one job CDS rail believes that by allowing one highly skilled person do their job it allows them to save on wages and therefore a high productivity would still be reached with a smaller amount of staff. Another way in which profit is increased is because the company employee’s are doing alot of traveling benefits have been found from joining a travel club. CDSrail also educates employees in energy awareness in an effort to save on electricity costs
Cdsrail is ultimately aiming for growth. It the world market as its ultimate goal. The products the company are planning allow this goal to be realised because the technology enables comprehensive support from anywhere around the world. Cds is looking to achieve this through high value business partnerships. We would also look to a parent company for investment into the growth of the company. We would have to consider how management would change from the national to international scale.
Progress measurement
We now needed to look at how we could measure to what degree we have achieved these aims. We can do this by collecting quantitative information and qualitative information.
Through quantitative information we plan to set out monthly forecast for sales revenue and then look at actually monthly revenue compared to these costs. We plan to collect qualitative information by holding meetings with our internal and external stakeholders. These meetings will gauge, monitor, record, and then improve as with the stakeholders needs.
External Environment
Cdsrail will have to consider how the external environment in which the business operates is going to affect its ability to reach its aims and objectives.
First Cds rail consider the differing levels of economic activity within a country. Cdsrail relies on densely population areas with a large transport infrastructure. It therefore focuses mainly on the North East and South East as these areas are the most densely populated.
Cdsrail are under contract with network rail, which carry out regular safety auditory checks on Cdsrail.
Cdsrail is by no means an unchallenged business. It has to cope with a significant amount of competition from other businesses. Because what Cdsrail offer is project based they are able to revise there prices based on customer expectations, available budget and levels of competition. Here is there analysis of competitive companies with similar technology
Marketing Activities
Cdsrail follow the continual use of the S.W.O.T system. This is one of the key reasons for its market leading position. Every area of the business is regularly reviewed against the back drop of client situation and the company’s ability to adapt and react to changes in the client situation is a key ingredient to its success.
The S.W.O.T system looks at;
Strengths:
• What advantages does your company have?
• What do you do better than anyone else?
• What unique or lowest-cost resources do you have access to?
• What do people in your market see as your strengths?
Weaknesses:
• What could you improve?
• What should you avoid?
• What are people in your market likely to see as weaknesses?
Opportunities:
• Where are the good opportunities facing you?
• What are the interesting trends you are aware of?
Useful opportunities can come from such things as:
• Changes in technology and markets on both a broad and narrow scale
• Changes in government policy related to your field
• Changes in social patterns, population profiles, lifestyle changes, etc.
• Local Events
Threats:
• What obstacles do you face?
• What is your competition doing?
• Are the required specifications for your job, products or services changing?
• Is changing technology threatening your position?
• Do you have bad debt or cash-flow problems?
• Could any of your weaknesses seriously threaten your business?
Marketing Mix
Marketing mix is a combination of marketing tools that are used to satisfy customers and company objectives. Consumers often call the marketing mix "the offering." Your offer is controlled by the following variables often referred to as the four Ps in marketing:
* Product
* Price
* Place (Distribution)
* Promotion
By using variations of these four components we have the ability to reach multiple consumers within your target market.
Creating a successful marketing mix that will increase results often takes experimenting and market research. There are many methods that can be used, both in person and the use of impersonal presentations. The key is to not always depend on "one" mix always explore other avenues. The combining and coordination of these elements will be more effective than depending on one.
For example we are a company that specializes in marketing services and we cater to the railway. Our price is geared an enterprise budget and our magazine advertisements and promotions are being placed in magazines that have a subscription base of potential customers.
CDS make sure they have a practice that caters to a niche market that their product is geared towards the need of that market, their price is within the budget of that market and they are distributing the product where it will be seen by that market, and gear promotion to solve the problems that they are encountering.
Importance of teams to success of a business
At Cdsrail, the management team works together on many key objectives. The engineering manager and head of projects have developed a breadth of understanding of the business strategy by getting involved at the early stages of the sale cycle and by being responsible for delivering solutions on time and inside budget. This collective sense of responsibility extends to their teams and this working spirit has been the key to success of new developments. At also helps to minimize reliance on any one key individual as well as foster cognitive learning at an organizational level.
The core departments of the organization comprise;
• A highly skilled engineering development team who design and produce the solutions.
• A professionally structured and highly experienced project team to manage client driven developments, production and overall project delivery.
