Chapt 8 Segmenting & Targeting Markets

Market Segmentation? It's the "process of dividing the a market into meaningful relatively similar and Identifiable segments or groups"...

Big companies use Market segmentation to help them with their target market's needs and wants. When IBM first started in 1910 all they made were keypunchers and verifiers; Until 1952 when Thomas Watson Jr. became president of IBM & decided it was time to open a market for electronics. Watson, Sr. had repeatedly rejected electronic computers as overpriced and unreliable, except for one-of-a-kind projects such as the IBM SSEC. Thomas Jr. took the company in a new direction, hiring hundreds of electrical engineers he put them to work designing mainframe computers. Many of IBM's technical experts also didn't think computer products were practical, since there were only about a dozen computers in the entire world at the time.
Since 1911 IBM has been dedicated to making "Machines" for "Businesses" from the first hole punchers to the later innovated electronic hole puncher. Now IBM still offers to large companies with Software, Servers and storage; But its also working towards making a 'Smarter Planet' to help the world use its resources more efficiently. Its already begun in Europe.

As you can see Target Markets and Segmenting are like Peanut butter & Jelly, They go perfect together... Cant have one without the other. The target market tells the company who, what their aiming for. In IBM's case it would be based on Social Class. Segmenting allows the company to break it down more specifically into narrower groups like the demographics within that social class.

Chapter 11 Developing & Managing Products

Its said that the 'average fast moving consumer goods company introduce 70-80 new products a year'.
IBM has multiple products that range from small businesses to Business partners. Then it spans out to retail store products to personal computer and printing products and of course IBM software products.
On January 15,2012 IBM will release:

• "IBM Lotus Software that delivers robust collaboration software that empowers people to connect, collaborate, and innovate while optimizing the way they work. Lotus is intended for better business outcomes through smarter collaboration.
• Lotusphere 2012 shows you how to raise your social skills and how to sharpen your technical ones with:
• Technology sessions covering practical tips and tricks to kick your skill set up to the next level
• Business-oriented sessions focused on best practices and results
• A Solutions Showcase featuring real-world solutions from our IBM Business Partners and IBM colleagues
• Access to IBM strategists, product experts, engineers, architects, and developers

• The opportunity to share the wisdom of the crowds from your own social circles of colleagues and partners" http://www-01.ibm.com/software/lotus/events/conference/

Lotus is IBMs product of making Business transaction/ Communications quicker & understandable with features that allow you to connect in real-time. Like Facebook/Twitter/Gmail all rolled into one. With features that allow people to connect & share their work with no outside distractions from 'friend request' and constant tweets.

Extra Post

There are some companies that go all out during the holidays to intrigue their consumers and get them to spend. Other companies don't even bother with the seasonal craze that fall into 'American Tradition'; Like black Friday, Christmas shopping, Hanukkah, Kwanza etc. 
IBM doesn't have Holidays sale, or Specials. This is most likely due to the fact that IBM sells to giant companies and business means business no matter how it's sugar coated. It does offer "IBM Coremetrics Benchmark" which gives consumers the trend data they need to succeed this Holiday Sales Season for cyber Monday.
http://www.coremetrics.com/holiday2011/index.php
http://www.coremetrics.com/

Chapter 16 Intergrated Marketing Communications

You may ask yourself what's Marketing Communications?
In simple words... It's how a company reaches out to it's consumer. Companies like to hear feedback from consumers so they add phone numbers or websites so that consumers can express they're thoughts & ideas to the company.
There's a ton of different ways for companies to reach out to consumers. IBM communicates through Mass Communications. IBM has multiple facebook pages one of them "IBM Smarter Commerce" Designed to 'help companies better manage their entire commerce value chain through a customer-centered approach that increases revenue and loyalty'. http://www.facebook.com/ibmsmartercommerce By liking the page suggestions and ideas are posted up by IBM.

IBM also connects through 'Encoding' meaning the "senders idea & thoughts into a message in form of word & signs." In this picture IBM just has 2 objects and a letter when read its 'eye-bee-m'. It's clever and somewhat entertaining.
There's a lot more ways companies communicate with their 'Audience' & I'm sure more then half the time we don't even realize what the companies are trying to do, or influence.

Chapt 10 Product Concepts

Fifty years ago IBM introduced the Model B Standard and Model B Executive Typewriters.

IBMs line of products is very wide ranging from Keypunchers back in 1910 to the Watson in present day. Of course IBM sales 'business Products' which means they manufacture new goods & services to sell. Since IBM is over 100 years old they have obviously extended their product line. IBM has had a hand in typewriters between 1935 and 1977.

Fast forward... and IBM has the Watson... the Smart computer a computer designed to give precise answers to questions. Watson competed against Jeopardy players and won. Watson has four terabytes of disk storage, including the full text of Wikipedia. Watson wasn't connected to the Internet during the game. Throughout time IBM has created a simple product, then had it reinvented and made it better and continues to do so. Currently IBM is working on a Smarter Planet Project to make the world more efficient.