Marketing management help : HP resources & marketing

1. IntroductionHewlett Packard commonly known as HP refers to an American company headquartered in Palo Alto. HP came into existence by Bill Hewlett & Dave Packard. Today, HP has been known as one of the most reputed firms all across the globe. It has been ranked 27^th out of the top 500 companies listed in Forbes 500 (Moncrieff, 2006).

The area of specialization for HP is to develop & manufacture computer devices, memory, storage capacity, hardware & software. The product line of HP comprises of computing devices, servers, storage devices, different varieties of printers, imaging products, etc. The key customers of HP would refer to the small & medium households, business houses, organizations, etc. HP has various partners, vendors, regional offices, retailers who help them in order to market their products, etc (Lamb, 2005).HP has been referred to as organization which has earned net revenue of approximate $126.3 billion in 2010. There has been an estimated rise of $40 billion dollars in the revenues earned in the year 2009 & 2010 (Lamb, 2005). The major competitor of HP refers to IBM. HP has been ranked no. 1 amongst the information technology sector. HP referred to as the first IT organization whose revenue has been exceeded $100 billion. HP has attained a significant position in the laser, inkjet, printer segment. HP has been referred to as the first IT organization rendering services in the IT sector.

1. Body:

2.1 External Analysis:

External analysis refers to an in depth study of the environment in which the organization survives. It refers to the type of analysis which would help HP in order to have an in depth knowledge regarding the outside or the external environment where the company exists. With the help of the external analysis opportunities & threats of the organization would be highlighted. This would help the organization to take care of the loop holes which might come in near future (Moncrieff, 2006).

In order to succeed amongst the competitive environment, HP should perform the external analysis which would help them to sustain in such a business environment. The tool which should be used by HP to ascertain the external analysis would be PEST i.e. Political, Economic, Social & Technological.2.1.1 PEST Analysis of Hewlett Packard (HP):

Hewlett Packard commonly known as HP refers to an American company headquartered in Palo Alto. HP came into existence by Bill Hewlett & Dave Packard. Today, HP has been known as one of the most reputed firms all across the globe. It has been ranked 27^th out of the top 500 companies listed in Forbes 500 (Moncrieff, 2006).

The area of specialization for HP is to develop & manufacture computer devices, memory, storage capacity, hardware & software. The product line of HP comprises of computing devices, servers, storage devices, different varieties of printers, imaging products, etc. The key customers of HP would refer to the small & medium households, business houses, organizations, etc. HP has various partners, vendors, regional offices, retailers who help them in order to market their products, etc (Kopytoff, 2011).

Political:

The first component of the PEST analysis refers to the political aspect. In order to sustain in the business environment HP should keep in mind the political aspect as well. As mentioned above that, HP is headquartered in California it should take into consideration the political stability of that region (Moncrieff, 2006). In America, the free system is prevalent in the business sector. According to the American business sector, approximately two third of the output earned is of the individual & the rest is for the private business (Lamb, 2005). One third of this output would be referred to be to be given to the government. It could be seen that, the government plays quite a significant role in building the economy taking into consideration the business sector as well. One of the major roles played by the government is amongst the development of the business as well as imposing the different types of laws related to the business (Kopytoff, 2011). Such type of laws or policies takes into consideration the protection of the property as well as the building.

Economical:

The second component in the PEST analysis would refer to as the economical aspect. US refer to one of the largest economy all across the globe. The businesses which flourish in the US market are majorly market oriented & majority of the decisions would be taken into consideration with the help of the people who have developed some activities.

One of the survey conducted states that an average American is expected to make purchases worth 5 trillion dollars each year. This states that approximately 80% of the goods & services would be purchased with the help of the localities (Kopytoff, 2011). The estimated GDP of US in the year 1999 was $2.9 trillion. Some of the recent surveys states that the GDP per capita of US has been estimated to be $41, 800 & the real growth rate of the US economy has been estimated to be 3.5% (approximately).

Whereas, on the other hand the estimated PPP in the year 2005 for the US economy has been calculated to be $12.37 trillion (Kopytoff, 2011). The number shows that, the US economy has been flourishing & generating high amounts of revenues from the various sectors available in the US market. One of the highest revenue generating sectors refers to the manufacturing industry.HP comes under a sector which has been focusing to manufacture various machinery parts, industrial machines, engines, computer hardware, equipments etc. This industry accounts to approximately 10.7% (Moncrieff, 2006) of the total amount being contributed by the manufacturing sector. This shows that, the Americans have a good standard of living. But, at the same time there are various problems which might hamper the growth of the US economy. One such problem comprises to the unemployment rate in the US economy & the number of Americans who fail to pursue their education (Kopytoff, 2011).

Socio-cultural

The third aspect which should be taken into consideration while conducting the PEST Analysis for HP would refer to the Socio-Cultural aspect. The approximate population in the US economy would be 296 million in the year 2005 (Johnson, Scholes & Whittington, 2008). US have been referred to as a pluralistic society. This means that, the people living in the country belong to quite a diverse region, religion, etc. People living in the US economy would belong to different cultures, practicing different languages, etc. With an increase in the number of immigrants in the US economy states that, the economy has been growing at an increasing rate. This growth has been occurred due to an increasing reliability over the computers & the technology (Moncrieff, 2006).

The major problem with the US economy is in regards to the employment factors. For example, there are high levels of discrimination while paying the wages to the female workers. The females are paid 10% less than that of the male workers. It was surveyed that, an average male graduate would earn $63 as compared to the female workers. The female workers would earn approximately $41.339 (Johnson, Scholes & Whittington, 2008). It has been observed that 7.1% of the people do not complete their formal education which results in a rise of the unemployment rate. A similar type of survey has been conducted in order to show that 1.8% of the college graduates are unemployed. This shows that the US economy has been suffering from unemployment problem (Johnson, Scholes & Whittington, 2008).

Technological:

The last component in the PEST analysis refers to the technological aspect. This means that how HP should use the technology in order to be a step ahead from its competitors. The US economy refers to a type of economy which is adaptable with the use of technology, computers, laptops, ipad, etc (Higgins, 2006). It has been stated that, the education sector has been continuously using the technology i.e. computers, laptops, etc. The education sector applicable in the US economy has been using the various gadgets which would help in order to grow the computer industry. The openings in the computer sector would help in order to grow in the years to come. People have been using internet or various technologies which would help them in book tickets, pay off their bills, work from home, etc (Johnson, Scholes & Whittington, 2008).

1. Core Resources & Competency:

The various core resources or competency of HP are enumerated as under. They are:

Þ    Innovation: Innovation refers to the first core resource or competency of HP. Innovations helps the organization in order to attain competitive advantage as compared to its competitors. Continuously innovating would help HP in order to have a command over the products being manufactured by them. With innovation the organization would be able to have a control over its products (Lamb, 2005). The organization would be able to meet all its challenges which might come in the years to come. Globalization, rise in the workforce, change in the knowledge, etc would help in order achieve competency. Innovation would help in order to attain competitive advantage over its competitors, have a strategic position, etc (Higgins, 2006).

Þ    Equipment dependability and the operator: The second core resource or competency would refer to the dependability of the equipment over its operator. A study states that, HP is quite dependent upon the press & has various characteristics which would show its dependability. It is as under:

°         Regular maintenance of the machine which would help in order to have stability over the machine.

°         Perform the adjustments regularly, efficiently, effectively & accurately to reduce the time as well as maintain the calls.

°         To have a control over its printing quality.

°         Low productivity & having a fair knowledge regarding the capability of the machine i.e. inkjet, laser, printer, etc.

Þ    Workflow efficiency and the operator: The last core competency refers to the efficiency of the work & the operator. This mean that how to increase the efficiency which would help them in order to reduce the number of reworks (Lamb, 2005). It refers to a structured process which would help in order upgrade the production cycle. This would also help in order to measure the level of efficiency which would help them in order to achieve the following. They are as under:

°         Predictable inputs

°         Predictable process

°         In depth inspection of the result

°         Proper maintenance of the material

°         Performing preventive measures

°         Inspecting about the quality, procedure, judgment, analysis, etc

1. Strategic Choices:

The HP’s strategic choice that might affect the working of the organization either internally or externally would be done in the following steps. They are as under:

Þ    On the basis of competition:  On the basis of the competition, the organization i.e. HP would be able to see what all is to be produced which would help them in order increase its productivity & the efficiency as well as (Hamel & Prahalad, 2010). A differentiated approach should be followed i.e. market segmentation should be practiced.

Þ    Mode Action: Any of the tool such as SWOT or PEST Analysis should be undertaken in order to have an in depth knowledge regarding the strengths, weakness, opportunities & threats (Higgins, 2006. The mode of action would take into consideration the following three aspects i.e.

°         Suitability

°         Feasibility

°         Acceptability

Þ    Direction of action: In order to grow, HP should involve themselves into M&A’s, strategic alliances, dependent upon the capabilities of the firm.

1. Strategy to be followed in the next 5years:

The strategies which could be used by HP in order to be followed in the next 5years would be to build small or tiny software which would help in order to expand the products or the services which would be delivered through internet (Hamel & Prahalad, 2010). Another type of strategy which should be followed by HP would be to build fair relationships with the retailers through which the hardware’s & software’s were bought. HP should opt for a strategy which would not be easily imitated by any other firm in the similar sector. As mentioned above that HP innovates their products in order to attain a competitive edge which makes its core resource. Hence, HP should focus more upon the innovating their products which would help them in order to attract more of customers thereby increasing its market share in the computer industry (Higgins, 2006). HP should try to manufacture & price the computers at low margins so that cost cutting would be practiced. By cutting the costs, people would invest more in the computer equipments being manufactured by Hewlett Packard.

1. Conclusion

As mentioned above that Hewlett Packard commonly known as HP refers to an American company headquartered in Palo Alto. HP came into existence by Bill Hewlett & Dave Packard. Today, HP has been known as one of the most reputed firms all across the globe. It has been ranked 27^th out of the top 500 companies listed in Forbes 500 (Hamel & Prahalad, 2010).Hence, it should be noticed that the Political Environment Social & Technological (PEST) analysis would help HP in order to have an in depth knowledge regarding the external environment in which the company exists. This would help them to focus upon the four major components while competing with its competitors in the same region (Higgins, 2006).

The major core resources or competencies of HP would be innovating the products in such a manner which would attract more number of customers. Dependability of the equipment & the operator as well as maintain the efficiency, flow of the work. In the end, various strategies have been mentioned which should be used by HP for the next 5 years (Hamel & Prahalad, 2010).

 If you want Marketing management Assignment Help study samples to help you write professional custom essay’s and essay writing help.

Receive assured help from our talented and expert writers! Did you buy assignment and assignment writing services from our experts in a very affordable price.

To get more information, please contact us or visit www.myassignmenthelp.Com