9050PROJ Grading Criteria Final Project Report: Assessment 3

1. Introduction

1.1. Background

The organisation for the case is Dingo Software which specialises in the CBM (condition-based maintenance) and PdM (predictive maintenance) of vehicles fleets.

1.2. Problem Statement

The Dingo Software has to put efforts in the area of marketing and targeting of its business in order to develop its consumers. Inadequate marketing practices for startup companies lead them to remain ineffective in competing with the successful companies in the market in the current times. The opportunity for Dingo Software is to grow its market and consumer base for the long-run (Sukoco et al., 2021).

1.3. Data, Methodology, and Methods

This study employed a case study method and exploratory research design. Moreover, secondary data will be chosen only for the purpose of this study. The case study method will allow the scholar to investigate a unit of a single event.

1.4. Overview of Structure of Report

The introduction section will be followed by six major chapters. The second chapter will discuss the review of theories and frameworks. The third chapter will discuss the method and methodology used in the study. The fourth chapter will discuss the analysis and findings by applying the chosen analytical tool or framework. The fifth chapter will represent the discussion and implications of the study to the chosen company or industry. The sixth chapter will provide recommendations to address the examined opportunity or problem. The seventh chapter will conclude the entire study.

2. Review of Theories and Frameworks

Two modern business theories namely co-creation and shared value theory are discussed in this section. Moreover, this part discusses two analytical frameworks such as PEST and SWOT tools that are assessed with the help of theoretical literature.

2.1. Review of Business Theory

It has been found by Shekhar and Das (2023) that the notion of shared value is described by the rules and operating strategies which improve competitiveness of a business while consequently progressing the societal and economic situations in the societies wherein they function. Moreover, it is found to emphasise on recognizing and enlarging the associations between social and economic progress. A scholar asserted that thriving in developing shared value facilitates long-run success and profits. This concept is further found to be relevant as a marketing strategy for the business positioning optimization of efficient teams at work. It has further been stipulated by Anshari et al. (2019) that a product tailored to appeal customers’ needs increases the organisation’s sales opportunities and profitability of buying frequency which mainly generate higher profits.
It is asserted by Sarasvuo et al. (2022) that co-creation of value is deemed as a marketing approach which emphasises on client experiences, collaborative relations, and the growth of novel value between clients and businesses. It is found that the higher quality cooperation and interactions might hence facilitate an exclusive client experience that is vital to opening novel means of competitive edges. It is found further that communication is considered as a crucial element in a company’s ability to manage value co-creations. Another study by Zwick et al. (2008) stipulates that co-creation is not the expansion of activities to clients, or a rendering of client events across a business’s products. It has been asserted that instead of placing clients to work by outsourcing tasks, co-creating desires to form associations which nurture contingency and experiments amongst clients. Moreover, it is discussed that there are two major challenges facing marketers as per this theory: first to attract to and retain the customers and second to provide an innovative and open conversational environment in which the customers might effectively execute and refine their knowledge for the benefit of everyone.

2.2. Review of Analytical Frameworks (Methods or Tools)

According to Benzaghta et al. (2021), SWOT analysis informs the individuals about business’s strengths and weaknesses; opportunities; and threats. Moreover, it is considered as a helpful tool for each business as it assists to comprehend their market. It is segmented into internal as well as external factors. It has been found that strengths and weaknesses are deemed as internal whereas opportunities and threats are deemed as external factors which focus more on market and competition generally. Another scholar Song and Sun (2023) found that businesses function in a competitive setting wherein they are always in need of precise data about their individual business and the rivals to preserve their position in the marketplace. It is said that companies pursue market prospects which produce value and recognize any risks through the evaluation of internal weaknesses and strengths, followed by the examination of external threats and opportunities. With respect to marketing, the SWOT framework is helpful to examine likely marketing strategies, exploring robust product launches, mapping the establishment of new target markets, and assisting in selecting a new promotion strategy.

As opined by Song and Sun (2023), it is stated that in order to conduct a successful SWOT assessment, it becomes necessary for marketing professionals to equally consider the factors of PEST analysis named as political, economic, social, and technological environments within the company. It has further been found that the PEST tool is considered as a famous method for managers to assume the exterior environment of the company. It also demonstrates a large portrait approach to the external environment encompassing the marketplace and assesses short-term and long-run trends in the process.The main motive of this tool is found to support a business’s strategic assessment activities. It also reflects its worth by supporting a business in examining the surrounding setting and adjusting its strategies to attempt and get some regulation over the uncontrollable aspects. It has further been stated that this technique may not be influenced by a company however it is formed by a combination of relevant companies in the market at a specific time. It has ability to also establish an outline of massive-scale environmental influences on a business to assist with strategic choices and is considered as a useful method for a company to respond to the variations in its exterior environment (Sihotang and Hudrasyah 2023)

3. Methodology and Methods

This part of the research entails the research methodology and encompasses the sources of data used for analysis purposes. It further contains the selected analytical outline for this research to assess the secondary data.

3.1. Case Study Research Methodology

The current research work employs a case study method that particularly investigates the single company case for Dingo Software. It is chosen since it is most commonly used in qualitative study. Also, it has been employed by the research as it helps in the examination of an occurrence in some definite case through various perspectives to depict numerous areas of the occurrence. Besides, it is selected as it facilitates the investigation of a real-world occurrence in its naturally occurring environment. The employment of the single case study provided the author with the opportunity to examine the subject all-inclusively by assessing present and relevant theories (Dinesh and Sushil 2019). It has further enabled him to investigate a unit as a sole event (Dingo Software). Besides, the used theories above like co-creation and shared value that explains the significance of the comprehensive case study method.

3.2. Secondary Data

The present research examines the use of marketing approaches when the new business namely Dingo Software intends to establish its consumer base and subsequently its business development. Therefore, mainly the secondary data for this study is the marketing strategies of Dingo Software Company and associated corporate approaches in the market. Besides, the secondary sources which are useful for this research are peer-reviewed articles, company’s annual report, industry report, government websites, and more. Besides, the secondary data is also used in the form of business and marketing plans of numerous associated businesses to make appropriate marketing approaches for the new company. With regards to the restrictions of gathering secondary data, it might be said that some peer-reviewed articles were not available and were chargeable. Further, the businesses linked with gathering secondary data include publication biases, selection, biases, and more.

3.3. Analytical Framework

The scholar for the purpose of this study decided to choose the PEST analytical framework. It is deemed best for conducting the secondary data analysis as it can help researchers to attain a superior comprehension of the opportunities and threats confronted by business. Besides, this might assist in building a superior vision of the future business scenario and how the companies might context fruitfully. The PEST analytical framework is used to gather secondary data by evaluating four major factors namely political, economic, social, and technological which affects the Dingo Software Company. Also, it helps the Dingo to comprehend the marketing landscape like customers, vital partners, and more. This analytical tool assisted the scholar to analyse the feasibility of the marketing strategies for Dingo Software in respect of increasing its customer base. Also, this tool identified narrower settings and focused study questions around viable and meaningful corporate settings (de Sousa et al. 2022).

4. Analysis and Findings

As per Li et al., 2021), PEST analytical framework is used to uncover the situations that are imposed on the business via political, economic, socio-cultural, and technology attributes of its environment. It is a technique utilised by marketing professionals of the businesses to evaluate the external marketing setting of a business. Moreover, it evaluates the macro environmental forces of a sector and refines decision-making. Since the Dingo Software’s major actions encompass fleet management solutions software, therefore scholars consider the PEST framework as ideal to go out of the information describing the software industry. The PEST analysis has provided a background to which the Dingo Software can make its decisions and made it easy to comprehend its decision making procedure.

4.1. Political Environment

As per Samusenko et al. (2020), these factors are found to describe the degree of regime’s impact on a specific corporate area. Moreover, the political forces are linked with the political condition in the nation and with the actions of the state. The instances of political variables of relevance to suppose are a likely change of government and the introduction of novel regime practices. Another scholar Ivošević (2021) found that the political assessment is assumed to review a nation’s governmental and corporate decisions which might further impact the market wherein the business desires to get established. It has been found that conflicts and political pressures should be executed in this analysis since political stability might influence the business’s functions. Therefore, strategic choices are essential to be made correspondingly.

According to Romasheva and Ilinova (2019), the political environment of Australia is usually assessed as stable. It is found that this nation has three levels of government which function collectively, but possess diverse duties. Moreover, this nation is deemed a federal constitutional kingship which utilises a parliamentary system of democracy. It has been stipulated that this nation is deemed a protected place for capitalization or investments and developing novel businesses since it is extremely stable, progressive, and open. It is found that Australia possesses an effective legal outline with low corruption levels. The political-associated forces can impact Dingo Software in positive as well as negative manners. It is said that the Australian nation negotiates free-trade-agreements to benefit the nation's importer; exporter; manufacturer; and shareholders by lessening and removing some limits to global trade and investment. There is no doubt that the trade links of nations to the world have been ominously disrupted during the time of pandemic (O’Sullivan et al., 2020).

4.2. Economic Environment

Economic forces are not just based on clients’ buying power or the price of an offering, but also disposable income, exchange rate, and more. It has been found that economic forces presently possess a massive influence on the business’s operations. In the current time, this force is unfavourable for numerous companies, and the software organisation is no exception. The areas like economic cycles, exchange rates are of relevance to comprehend how the business environment is impacted by a varying economy (Çitilci and Akbalık 2020). Moreover, the Australian nation has a lower level of threat and a robust GDP growth rate, lower unemployment rates, lower inflation rate, and stabilised interest rates. Australia is considered an open country that means variations in other countries’ demands for goods and services might have a significant impact for the nation. Besides, it is accredited to fiscal, investment, and trade freedom with which international companies can compete with domestic companies.

As opined by Lucas (2021), Australia is considered as the globe’s 13th largest economy governed by the service sectors and relying on agriculture & mining for its economic development. It is specified further that current exchange rates in the nation are supportive that makes property capitalization an appealing choice for investors. Also, the cost of living in the nation's massive cities like Sydney is below certain of the globe’s most costly cities, however they are still amongst the ideal cities in regards to quality of lifestyle. The household disposable income in Australia has majorly surged in the past few years and which is expected to increase in the subsequent period. It has been caused by the fiscal assistance which associated Covid-19 pandemic from the regime which put back their work wages and excess capability in the labour market of Australia in the past (Higginson et al., 2020).

4.3. Socio-cultural Environment

The social factor entails the impacts of facets like population, demographics, varying cultural outlooks, and geography of market economy. It is noteworthy that every company needs to take care of its clients’ needs and desires. Socio-cultural forces might be context-definite and require to be understood with respect to nationwide cultural standards (Kokkinos et al., 2023). There has been a surge in the educational levels since in current times civilians in Australia are more educated than ever before. It is found that the regime provides finance for most institutes and universities and students contribute in the sort of tax paid and fees. There is no doubt Australian culture is deemed as possessing lower power distance, lower long-run orientation, extremely higher individualism, medium masculinity, medium uncertainty avoidance, and higher indulgence. Individuals in the nation prefer challenging work with lesser value put on friendly and comfortable workplaces (Stone 2019).

With respect to Australian Companies, social variations entail the patterns of inclusion and acceptance of entire individuals. Social factors have the capability to determine consumer behaviour in the market. With respect to the software development sector, there is a positive trend in relation to inclusion and acceptance of individuals (Craig and Churchill 2021).

4.4. Technology Environment

According to Wajid and Zafar (2021), technological forces have the ability to link with the existence, availability, and technical progressions. They can take the form of automation, R&D, wireless technology, and so on. It is said that Brisbane is deemed as one of the leading markets in Australia for the information technology sector involving the digitised creations, ICT (information and communication technology), innovation, and so on. Also, the state has been dominating in developing and using revolutionary smart city methods which offer solutions to worldwide urban infrastructural challenges (Hajkowicz et al., 2023). It is no doubt that contemporary technologies might possess a higher influence on the company linked with the software industry. These forces encompass the impacts of technical changes on goods, procedures, and distribution channels. There is no doubt that Australia has an effective level of technological progressions, certifying the adequate accessibility of entire digital marketing instruments (Low et al., 2020). The variations in the technological developments which impact the Dingo Software in Australia entail X-as-a-service business models; and cloud-computing technology. It is said that in order to remain relevant as per such trends, the majority of businesses might establish digital goods to add to their portfolio. It can be said that the main targets of the Dingo Software for its offerings are Software Development professionals therefore such a change might surge its number of prospective clients. The civilians in Australia are found to progressively be relying on social and digitised channels (Kjærsgaard 2019). It has further been found that Australia is outshined in 5G technology networks as it is covering about 75 % of the nation’s population with the intent to reach 95 % in 2025 (Yigitcanlar et al., 2020).

5. Discussion and Implications

The current stable political setting of Australia can assist the Dingo Software and other software businesses to adapt to the ongoing Covid-19 conditions. Moreover, the brand will get a greater level of certainty at the time of establishing its marketing strategies due to the nation’s easy tax policies. It can be interpreted from the analysis that the refining free trade regulations within the nation are definitely a prospect for Dingo Software and other businesses to surge its profitability. The free-trade-agreements between nations all across the globe can be the crucial forces to overcome the economic challenges posed by pandemic. It can further be said from the analysis that the Dingo Software Company might be engaged in the free-trade-agreements to distribute even more offerings across the globe. Nevertheless, the trade disruption between Australia and other nations can undoubtedly threaten the development and the worldwide sales income of Dingo Software. It can be said that Australia and the USA, which are the most vital marketplaces for Dingo Software, might have political tensions momentarily. Therefore, this company might be at disadvantage when the USA would raise greater tariffs on imported software offerings. As a consequence, Dingo Software might confront threats as well as opportunities in the present political environment of Australia.

It can be interpreted that the economic environment of Australia can enable its citizens to spend their incomes on purchasing offerings by Dingo Software. Also, due to more employment opportunities in the nation, the consumers will spend an adequate amount of money to purchase consumer products of their choice, mainly technology-based products. The open market in Australia can be a positive sign for brands including Dingo Software who is planning to expand its client base via marketing and targeting of new customers. The recovery of the economy globally is considered an opportunity for Dingo Software in regards to expansion of its businesses and increasing client base. It can be interpreted that global as well as domestic economic development can play a vital role for this software company. It is stipulated from analysis that Dingo Software should utilise economic forces to know the suitable price of its offerings for every nation it serves.

It can be interpreted from the above analysis that the social factors affecting the businesses in Australia can assist the Dingo Software to launch the superior business strategies in the area of marketing and targeting its offerings to increase client base by understanding the consumer behaviour. Moreover, it can be said that the robust educational system within the nation might have favourable influence on the production of imaginative offerings by Dingo Software’s skilled workforces. Also, the company will be able to hire highly-skilled, proficient and competent workforces in its marketing department to formulate marketing strategies for its business. The workforces will be able to bring forth imaginative notions to the company’s strategies. It is further true that the focus on accessibility of computers in the schools and on preparing information and communication technology abilities amongst pupils has surged over the times. Moreover, it would mean that the majority of Australians will soon possess the technical abilities to be involved in software development with the surging ease of access to computing devices, internet technology and so on. It can thus be said that end users with growing technical competencies might be more probable to utilise the sort of software development services which Dingo Software aims to provide. It can be said that co-creating value with the skilled individual consumers in Australia can be a vital marketing activity for the Dingo Software. This might assist its business to refine its flexibility, grab marketplace dynamics rapidly and precisely, and fulfil the marketplace demand at a low cost. Moreover, this can also refine the innovative capabilities of the Dingo Software and improve the gratification and trustworthiness of co-creation subjects. It can further be interpreted that it can successfully preserve the competitiveness and feasibility of its business.

The efficient technology environment of the Australian can allow the Dingo Software to reach the members of the target market segment in the virtual setting. It can be further interpreted that the technological progressions in the nation can refine the interior effectiveness and assist Dingo Software offerings from becoming technically obsolete. The advent of predictive maintenance technology in Australia might be an effective solution and opportunity for the software businesses to help prolong the vehicles life and their reliability. Besides, the discussion in the area of technology interprets that the Dingo Software can get greater prospects for utilising SMM (social media marketing) enormously. The 5G network competencies of the nation will assist the Dingo Software to realise the benefits. It is stated that Dingo Software has built-in 5G technology that is useful in appropriate digital user experiences. Now, as the civilians in the nation are already cognizant of such a technology, it can be interpreted that these civilians are more probable to become users of Dingo Software.

Overall, it can be said that the marketing activities of Dingo Software can be initiated with market research which might gather information about the business environment. Moreover, it will enable the brand to gather data regarding healthcare, education, economic infrastructure, and natural environment situations in the areas wherein the business functions. Moreover, the Dingo Software can be able to select the area wherein it can initiate to develop shared value, geographic markets in which it can function and. Therefore, this shared value concept will enable the brand to deal with novel markets and the associated segments.

6. Recommendations

The above discussion brings forth certain recommendations which must be considered by Dingo Software for the marketing and targeting of its business to develop its customer base. These are mentioned below:

• It is found that since the software and IT sector itself can impose patterns which are quickly changing, its skilled workforces must be considered while talking of the technology environment of the company (Dingo Software).
• Market penetration strategy must be adopted by Dingo Software which implies that the present market must be at a more generous level, in what concerns selling more software offerings in the market which already persists. Henceforth, the brand must convince its clients to purchase more of its offerings, mainly those prospective clients which are presently buying goods from Dingoi Software’s rivals. With this, the brand will be capable of penetrating the market by employing approaches on their pricing and developing information to the individuals about what the business provides and at what prices (Cennamo 2021).
• Besides, the Dingo Software which can be recommended while gathering novel customers is to put away the competition.
• It is suggested that the product extension and value enhancement must be considered as a constant procedure in the Dingo Software. The brand is advised to analyse the offerings of its competitors regularly. Also, the portfolio of this company is required to remain updated and provide the present client with novel attributes and novel services, to stop them leaving for something novel.
• The data for the assessment must simply be gathered by monitoring the clients’ actions on the website, reports, and feedback. Therefore, such sorts of communication with the client must be taken extremely thoughtfully and the communication channel for the clients must be available in the simplest manner.
• The promotional procedure and channels must be made carefully to reach entire novel client groups. It can be said that the emphasis of an initial phase of the good and service lifecycle must be on delivering the business promise and appealing novel clients. This is vital to capitalise into developing a positive image that ultimately will facilitate constructive word-of-mouth.
• The Dingo Software company is required to emphasise significantly on redirecting the present offerings as per the sustainability options. Besides, the brand should recheck its vehicle fleet software as per the target client’s tastes and preferences.
• As each nation is diverse, Dingo Software Company must not risk casually with an identical approach in diverse cultures. Therefore, it is advised to explore who is a prospective client in the definite culture, and how it can provide that value. Moreover, it should be conducted with diverse feedback choices and listening to what the individuals desire and determine who the brand is selling (Berestova 2015).
• As part of marketing strategy, it is advised to Dingo Software to collaborate with influencers to increase its customer base. It is said that influencers are mainly social media individuals who have attained an audience they attract to.The brand is suggested to partner with influencers who are matching its corporate-wide approaches and goals.

7. Conclusions

The purpose of this research was to determine the strategies for marketing and targeting of Dingo Software business to surge its client base in the market and for its business development. From the discussion and analysis conducted above, it can be concluded that the PEST analytical tool is found to be effective in letting Dingo Software Company know of the situational analysis for developing marketing strategies to increase business. Moreover, it is concluded that the political environment of the Australian nation is stable. The nation is found to have extremely skilled workers with a proud past of democracy. Besides, the analysis concludes that the trade relations of nations to the world have been significantly disturbed during the time of Covid-19 pandemic. This would mean that it can threaten the development and the worldwide sales income of Dingo Software. It is also concluded that the household disposable income in Australia has majorly surged in the past few years and which is expected to increase in the subsequent period. It would mean that Australians can spend enough money to purchase consumer products of their choice, mainly technology-based products. Moreover, it can be inferred that in respect to the software development sector in Australia, there is a positive trend in relation to inclusion and acceptance of individuals. This would mean that Dingo Software can launch superior business strategies in the area of marketing and targeting its offerings to increase client base by understanding consumer behaviour. In the area of technology, it is inferred that Australia has an effective level of technological progressions, certifying the adequate accessibility of entire digital marketing instruments. Besides, it can be concluded that it might be an effective solution and opportunity for the software business in the nation to help prolong the vehicles life and their reliability.

Appendix 1: Project Reference Map

References

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