Marketing Assignment
...et, three main Maltese search engines have been identified: Searchmalta.com, Malta Network Resources and WebShout. The popular search engine Google, has also been adapted for use by Maltese people and has been translated into Maltese. The aim of each of these search engines is to provide the user with an efficient way to look up information primarily about Malta but can also be used for generic searches. In order for our company to have a better idea of what the competition is on the Internet, a brief marketing approach about each existing search engine will be described below, this will allow Specialty Search to identify exactly how psychosearch.com will be positioned in the market. Searchmalta.com “The one and only true Maltese portal linking Maltese all over the world.” The site is also the most complete resource for Malta and the Maltese Islands on the Web. To sum it up, leading Maltese Site in Content, Traffic and Innovation. Malta Network Resources Since 1994, this site is still Malta's only non-commercial index/portal/true search engine. Malta Network Resources was launched on the web in July 1996. It is Malta's equivalent of similar directories worldwide. Previously it existed since 1994 in a form of a list of links, posted to various places. It is the only Maltese Directory (with its own search engine) to be linked from Virtual Tourist. Virtual Tourist is the world map of Internet and www directories, and if you click on the dot representing Malta in Virtual Tourist, you find yourself here. The style of resources presented here is different from earlier web directories. The style is more in line with similar directories around the world. The idea is to help you find the resource you're looking for. Besides that, there is no copying involved in the creation of this directory. Initially links were found using the standard search engines, and eventually most links will be submitted by their creators, using the online-form. WebShout This search engine is powered by Endeavour Business Internet Solutions, which was set up by Mr. Vincent Bezzina. Endeavour has delivered IT, consultancy and training services to major blue chip companies in 32 countriesacrosstheglobe. Endeavour has done pioneering work in Geographic Information Systems. In Satellite Remote Sensing and Image Data Processing, Endeavour has contributed processing techniques and innovative use of technology. Services for Oil&Gas where delivered on behalf of Landmark, a Halliburton Company and Earth Resource Mapping to all major Oil&Gas companies such as Shell, Chevron, BP, Total, StatOil, Mobil, Conoco, Agip and many others. In recent years Endeavour has re-focused its expertise on the Financial Industry working with major Banks such as Deutsche Bank. Marketing Mix Analysis Assessing Threats and Opportunities A SWOT analysis was carried out in order to assess the different strength, weaknesses, threats and opportunities the service will be facing. This analysis will allow the company to predict future performance and, together with the results of the questionnaires, will provide better insight into the mind of the consumer. Strengths Psychosearch.com is the only search engine specifically targeted for one domain, offered in Malta. With the increased use of the Internet for assignments and research, a search engine geared towards a particular area would be seen as beneficial. Weaknesses Other search engines like Google and Yahoo! are viewed as very dependable search engines that provide the user with what they need, so a search engine for a specified area may not be seen as a necessity. A second weakness is the fact that income will have to be controlled as an outside force; the search engine itself will not generate any income, only the space for advertising on the site itself. Opportunities The company can take advantage of the fact that the service being offered is a novel one and that so may people in the population make use of the Internet everyday. The company has quite a large market to target and it grows every year with the influx of new students. Threats A threat to the company rests in terms of financial support and feasibility – the company would have to ensure financial stability before pursuing in this service. As mentioned above, the only source of income is through advertising. The Marketing Mix of Search Engines In the following section I will outline the four Ps used to illustrate the best marketing mix for this service – product, price, place and promotion. I will also be including ways and means of overcoming any threats already identified above. In other words the marketing mix and marketing strategies will be combined. Product Any product or service can be grouped together under one heading and be made to seem homogenous and unoriginal. The product is the company’s best tool for promotion and positioning of that company. In our case, the search engine, psychosearch.com is the product on offer, the product being put on display to represent the company. The different threats and weaknesses attached to this product have been addressed above, however ways to overcome then will be tackled here. In order to position the product better (and ultimately the company), it is important to create an awareness about the use of the product and the needs it will sustain. From the questionnaires administered, one can note that the product of search engines, as a whole is a popular one. What differs is in the selection of the search engine. A strategy outlined for implementing this tool is not to market it as ‘just another search engine’, but more as a “tool for the future”. This links up to the section on Promotion below. Price A search engine, as a service generates a lot of income for companies who make use of their space and advertise on them. However, finances generated from the search engine itself are very low. Any major search engine generates its income through other companies’ advertisements and endorsements. Specialty Search as a company does generate income from other products, but it is still highly dependent on the income from advertising on search engines. As part of promotion (to be discussed in further detail below), the company would have to market this search engine in as novel a way as possible. Place Due to the fact that a large majority of the target market are University students, the best place for them to find out about the service is through the University. Specialty Search would be associated with a prestigious organisation like the University and it would be given direct exposure to the market it wants to target. Psychosearch.com could be listed as one of the University’s primary search engines and the Psychology department could include it in their prospectus at the beginning of a student’s four-year course. Promotion The activities carried out by Specialty Search to promote this service are numerous: Market the service as a “Tool for the Future” Approach various companies like radio stations, television stations, student-oriented companies, youth-oriented companies, computer software companies and even stud...