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Marketing - Customer value Essay Example

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Marketing - Customer value

Revenues associated with automation comprised 8.8 billion USD, or 22 percent of total global revenues (ABB 2012). Thus, automation systems, including robotics, represent a viable business opportunity under the current operating, multi-national business model.ABB is renowned for its tangibles and intangibles of service and product delivery associated with automation, especially in areas of robotics. ABB is quickly becoming a key market player in global markets for its robotics prowess, providing such products as automated palletisation robots, packaging robots, press tending robots for manufacturing, painting robots, and general machining robotics to enhance industrial production systems (ABB 2013). Advancements in ABB-generated technologies now allow the organisation to diversify its robotics division and capture new markets by targeting the booming space tourism and travel industry. This report highlights how ABB can create sustainable revenue growth and extend customer value through the development of space-oriented robotics systems that can be marketed to customers in the Middle East, the United States, and China. This is a booming market, the space tourism industry, that provides ample opportunities for companies like ABB that wants to be a first mover, thereby establishing brand advantages in key market segments, in a high-profit and developing industry.According to Kalyanaram and Gurumurthy (2008), first movers in a new industry maintain many favourable advantages over that of late movers. Customer segments will often evaluate the pioneer with favourable evaluations if the first mover is able to effectively satisfy customer needs. Late movers are then compared to the pioneer with significantly negative assessments (Kalyanaram and Gurumurthy 2008). The space tourism industry is currently being funded by private and corporate investors, with some support from international governments. However, there are currently few well-known brands in the business-to-business market environment that maintain brand equity for being pioneers and expert brands in space tourism. ABB maintains significant opportunities to capitalise on its positive B2B business reputation domestically and internationally to achieve greater revenue growth if the organisation is able to effectively align operations with promotional strategies to gain this reputation as a key market

Reference

Services Review, 32(2), pp.164-173.

WTO. (2011). World Tourism Organization Facts and Figures. [online] Available at: http://www.world-tourism.org/market_research/facts&figures/menu.htm (accessed 6 February 2013).

Yao, R. (2008). Smart Robots Help. [online] Available at: http://www05.abb.com/global/scot/scot241.nsf/veritydisplay/941ebfe24d8520c6c1257562004888e6/$File/Article%20Huizhong%202008.pdf (accessed 8 February 2013).

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preview essay on Marketing - Customer value
  • Pages: 14 (3500 words)
  • Document Type: Essay
  • Subject: Marketing
  • Level: Undergraduate
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