Marketing and Human Resource Analysis for IrisCam
IrisCam intends to be the world’s best manufacturer of cameras and all associated accessories. The company has 150 employees and one manufacturing plant in the US. The company has plans to build plants in Asia where there are ready materials and accessible labor. IrisCam’s strategy has been to differentiate itself from the competitors regarding the premium quality of its cameras. Its products and promotion strategies make it noticeable and unique to the consumers thereby enabling it to record better sales and returns compared to its competitors. Additionally, emplacing on the quality of the products has helped in the reputation management of the firm. The promotion of the brand has made people associate it with quality taste and status. The company continually improves its customer service to make it have a positive reputation in the market (Thompson, Peteraf, Gamble & Strickland, 2016). Marketing efforts of the organization are aimed at making increase sales and brand recognition among the consumers.
The firm has made efforts to position itself as a premium brand of camera. It has done this by striving to create a digital experience as opposed to just providing the clients with the product. The products are designed to provide the clients with advanced features that are easy to understand and use. The outcome of the use of the cameras of this firm is to revolutionize how people make and preserve memories. The cameras are internet enabled and can be linked to the social media accounts of the users or the cloud. Further, the company promotes good customer experience by training its employees from time to time on how to best improve their services and appeal to the customers by other means, such as offering customers convenience.
IrisCam targets consumers in the upper class who have higher income compared to the rest of the population. Consequently, it focuses on providing the customers with premium cameras. These clients prefer having a gadget that is unique and can perform functions that are impossible for the ones already in the market. Further, all the types of cameras made are of limited and customized editions to make the clients feel unique. The enterprise’s customers’ demographic often includes persons in high wage professions, business owners, and other high-income earners in the age bracket of 25-60 (Chi‐Young, Murphy & Jyh‐Lin, 2017). Most of these people are in a lifestyle that is fast-moving and are often moving to exotic places to unwind. Having a camera that is water resistant and can withstand varying temperature and humidity without altering the quality of the pictures is the epitome of convenience for the clients. The camera satisfies the mentioned needs at once. The marketing approach of this firm is aimed at making the customers feel valued regarding the services rendered and also in the quality of the camera.
The firm relies on merchandising a lot in its marketing efforts. Its products contain its logo. The company also goes an extra mile to ensure that the merchandise is pleasant and attractive to the consumers, which helps in the addition of value to its services and products (Jones et al., 2015). Additionally, the organization ensures that not only is its camera perfect, but also the bags and cables that accompany it. The devices are so durable that the clients are given a five-year warranty period. The enterprise is famed for using unconventional methods of marketing its brand. For example, it avoids having adverts in traditional media, such as billboards, television, and newspapers. Despite not advertising in the same manner as other companies, the firm can generate popularity and publicity among the consumers.
The enterprise has presented itself to the customers as customer oriented, focused on providing quality and as an ethical brand. Its stores are aesthetically appealing and comfortable for maximum relaxation of the clients. The origin of all the components used in the assembly of the IrisCam cameras has been established and determined to be ethical. The components are sourced from ethical suppliers, and the company has made sure that this is known by the customers. The company also offers to take back the cameras from the clients once they are done with them as opposed to throwing them away (Jondle, Ardichvili & Mitchell, 2014). The ethical image of the corporation that is generated by this action makes it gain favor in the eyes of the clients and leads to customer loyalty and retention. The trends of the 21st century have proven that having an ethical brand as a result of being accountable and environmentally friendly attract customers (Thompson, Peteraf, Gamble & Strickland, 2016).
Originally, the marketing approach of IrisCam relies on its brand image and nothing more. The company only advertises on the forums where the high-end clients are bound to be found. These include business magazines and holiday brochures. The limited marketing of this company makes the clients feel unique and special compared to the rest of the population. The cost of advertising for IrisCam is very small compared to what is spent by other firms of the same stature as IrisCam. The enterprise also relies on social media marketing to publicize its goods to increase its market share. The use of Twitter for marketing does not require a significant investment, and that is an advantage for the company. It uses its Twitter page to share stories about new stores, CSR achievements and other critical milestones (Thompson, Peteraf, Gamble & Strickland, 2016). The followers that this company has on social media also share the updates, making the stories become even more viral and visible to other potential clients. Moreover, the firm has more than 100 entertaining and engaging videos on YouTube that showcase its brand and related products.
IrisCam is among the best companies regarding how it treats its employees. The corporation has adopted a purpose-driven culture in handling its workforce. The approach has the effect of making the employees feel valued at work and more fulfilled with their occupation (Thompson, Peteraf, Gamble & Strickland, 2016). Furthermore, the employees form strong relationships with their co-workers and are high performers and loyal to the organization. The recruitment process is aimed at improving the lives of the persons selected to work in the company. In a bid to improve the lives of the employees, the company has been paying college tuition fees for employees who wish to further their studies. This scheme provides the employees with full tuition fees at Arizona State University online college. Employees of IrisCam who do not yet have a bachelor’s degree are encouraged to enroll for that program. The human resource management of the firm states that the motivation behind this scheme is to address the problem of educational inequality in the American society.
The employees are referred to as partners in the company and encouraged to buy stakes in the enterprise to increase their dedication and benefits. The employees are supposed to choose from 50 undergraduate degree programs from ASU Online. There are no conditions for the sponsorship, not even a commitment to keep working for the firm once the benefitting employees have graduated. The most popular degrees in the program include psychology, engineering sciences, and organizational leadership. The introduction of this program in 2015 drove up the number of applications for positions in the company, even for corporate posts where the applicants already had degrees (Sindhwani & Ahuja, 2014). The program attracted a lot of talent to the company inclusive of persons that did not qualify for it.
This is positive branding using the human resource wing of the company. The result expected is that the company will attract and retain the best talent to the workforce and in effect offset this additional cost of the program. There is also the tendency of the consumers spending more on companies that seem to have and perpetuate good values than those that do not. Customers are often sensitive to how a company treats its employees, and if they perceive it positively, they are likely to choose the brand.
Results and Mistakes in the Strategies
The marketing strategies of this company have been effective, especially in giving the firm and ethically sound image, which has made the clients who support ethical trade in electronics and other commodities loyal to the enterprise. The company has not diversified to include other segments of the market apart from the high-end consumers, and this makes the market attach a higher value to the products that the enterprise sells. Regarding human resource, the move to consider the employee’s partners as opposed to just workers who can be replaced at any time is a positive move. The humane treatment of the employees has trickled down to how they handle the customers, and this has had a positive impact on the firm (Thompson, Peteraf, Gamble & Strickland, 2016). The only mistake in the Human resource is not having the beneficiaries of the college tuition commit to working for the organization because it creates an opportunity for a person to join the firm just to attain a degree and then resign to pursue other interests. It might also lower the value attached to the college tuition program by the employees. The solution to this would be to require the beneficiaries to work for the firm for at least one year after graduation.
Chi‐Young C., Murphy, A., & Jyh‐Lin W. (2017). Segmentation of consumer markets in the US: What do intercity price differences tell us? The Canadian Journal of Economics, 49(3), 738-777.
Jondle, D., Ardichvili, A., & Mitchell, J. (2014). Modeling ethical business culture: Development of the ethical business culture survey and its use to validate the CEBC model of ethical business culture. Journal of Business Ethics, 119(1), 29-43.
Jones, M. A., Reynolds, K. E., Arnold, M. J., Gabler, C. B., Gillison, S. T., & Landers, V. M. (2015). Exploring consumers’ attitude towards relationship marketing. The Journal of Services Marketing, 29(3), 188-199.
Sindhwani, P., & Ahuja, V. (2014). A study of online co-creation strategies of companies using netnography. International Journal of Online Marketing, 4(1), 39-n/a.
Thompson, A., Peteraf, M., Gamble, J., & Strickland, A. (2016). Crafting and executing strategy (20th ed.). Boston: McGraw-Hill Education.
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