Introduction
GESSEVEN is an accounting and market management consulting firm founded in 1997 and based in Portugal, Lourinhã. It offers its customers various services, including accounting, taxation, human resource management, and consultation services for other firms (GESSEVEN, 2021).
The company is guided by sincerity, effectiveness, and rigor. The dedicated and well-experienced employees have created a unique working method for preparing balance sheets, managing accounts payable and receivable, and preparing tax returns and financial reports.
The company is customer-oriented, and total customer satisfaction is its primary focus. Its mission statement is: “Be the soul of our customer’s success. Build bonds of unity through highly qualified, personalized, and innovative services” (GESSEVEN, 2021, para 3). The vision of this company is to increase its portfolio in accounting and human resource management work.
This research paper aims to create a marketing plan for the new GESSEVEN marketing department. This marketing plan is aimed at helping the company achieve its vision of providing added value in the fields of accounting and management. The objective is essential because there are many competitors in the market; therefore, adding value is a competitive edge.
The research aims to provide distinctive promotional activities to help the marketing department reach potential customers and influence others to buy GESSEVEN services. In addition, the research will provide marketing techniques and ideas to grow the customer base and expand the business. The obtained results will be reliable and specific because the research will analyze the company’s performance and focus on the features of its geographical location.
Background
Marketing Plan
Every successful business has to have a well-thought-out plan to formulate its course of action. Thus, a marketing plan is essential for any business because it spells out important information, including how it will have a competitive edge and what it aims to achieve. A marketing plan is not expected to release the results immediately and should be given some time and attention to realize the goals (Czinkota et al., 2022).
The GESSEVEN marketing plan will cover one year, and results should be visible from the fifth month onwards. A complete marketing strategy helps reveal new opportunities, such as changes in price strategies, customer segmentation, and ways of differentiating a brand from others in the market.
A marketing plan represents performance and learning goals, whereby it helps an organization perform tasks and actions very well and gain positive feedback. A strong marketing plan has many benefits, including creating brand familiarity.
GESSEVEN is a modern company offering unique services by integrating IT services with basic accounting skills. This feature enables them to have online accounting tools to remotely perform accounting and resource management activities. For many organizations to believe in GESSEVEN, brand familiarity is essential because, according to Czinkota et al. (2022), 81% of consumers need to trust a brand before they purchase their products. A suitable marketing plan can help take the brand from being unknown to being familiar to consumers.
The other important thing about having a marketing plan is to increase consumer engagement. GESSEVEN is a business primarily based online; therefore, through various online channels, the company can communicate with consumers around the globe. Drafting a good marketing plan will boost social media posts, blogs, email campaigns, chats, new website pages, videos, and newsletters, which will help the company communicate with consumers, hence earning trust (Hooley et al., 2020). Thus, having a marketing plan will act as an added advantage to the company and give it some leverage over its competitors.
Methodology
This quantitative study uses numbers and statistics to gain greater knowledge and understanding of the social world. The data collected will be used to find patterns and averages, make predictions, test casual relationships, and generalize results to a broader population (Snyder, 2019).
Quantitative data is the most effective for this study because it provides more scientific results and eliminates biases. In addition, quantitative data is more generalizable, which implies that the results do not have to be used only by GESSEVEN but also by other companies with similar challenges. Quantitative data is critical in decision-making because it provides crucial information that can form the basis of a discussion, such as demographics, market size, and user preferences.
Quantitative research ends with recommendations or conclusions as it examines a problem and projects the results to a larger population. This method works more effectively with a close-ended questionnaire so that the researcher may confirm some hypotheses (Snyder, 2019). This study allows consistent and structured data collection methods and analyses, so even if another researcher uses the results, they would still get the same results.
This study will use experimental research design to establish cause-effect relationships among various variables. In this case, the researchers will influence some variables to observe the consequences. Thus, one independent variable will be measured against many dependent variables (Snyder, 2019). Thus, the questions will use the independent variable to get its relationship with the independent variable.
Sample Design
The population of interest for this research is the employees of GESSEVEN who have been in the company for more than 12 months. This period gives them time to integrate with the organization’s culture and know how it operates. The study chose fifteen respondents because the company is remotely based and does not have many employees. The employees were selected based on the criteria that they have completed 12 months in the organization and are not in top management. All the respondents participated in answering the research questions.
Data Collection and Fieldwork
Data collection was conducted using online questionnaires because of the various benefits. Online questionnaires have various advantages, including reaching the respondent remotely because they are sent through the Internet. In addition, it gives the respondents the autonomy to answer the questions from their preferred location (Snyder, 2019).
Since the respondents are not monitored, they will likely provide more accurate results because they can express themselves without fear. Online questionnaires are relatively cheap compared to other data collection methods because they do not involve postage or travel costs (Snyder, 2019). Finally, online questionnaires were more effective because they were easy to analyze and because the data could be easily grouped.
The respondents for this study were informed about the questionnaires and gave their email addresses. A day later, the questionnaire was sent to them via email, and they were given one week to answer the questions (Snyder, 2019). All fifteen respondents answered and submitted the questions before the week was over. There were no disqualified results because the respondents followed all the rules as instructed in the questionnaire. This statement implies that the response rate was 100%; hence, all results were considered.
Statistical Analyses
All the data was collected and grouped for statistical analyses. The results were grouped in percentages, and then graphs were drafted. Graphs are easier to analyze and see trends of the different phenomena tested in this study (Snyder, 2019). The graphs are then represented in the study for analyses and to help conclude them.
Results
This study used 100% of employees from the firm, with 86.7% female and only 13.3% male. This data shows that the company has more female workers than males, which spells out some gender indifference. Most of the employees who were used for this study are between 30-50 years (66.7%), while (34.3%) of the employees are between 50-75 years. Regarding marital status, 46.7% of the employees were single, 40% were married, and 13.3% were divorced.
The study proceeded further to get the respondents’ opinions regarding their relationship with the company. 66.7% of the respondents stated that they thought the company had their interests when making decisions, while 33.3% felt that the company did not consider them, as seen in Figure 1.
In addition, 60% of the employees agreed that they are satisfied with how the business manages its employees, while 40% of the respondents did not agree. 66.7% of the employees stated that they felt the organization values them. However, the remaining 33.3% of the respondents did not agree, which implies that there is a need for more initiatives to ensure that employees feel valued in the organization.
The researchers went further to learn about the brand that GESSEVEN sells. 60% of the employees accepted that the brand promise of GESSEVEN is consistent and fulfilled at all levels in the company. In another question, 60% of respondents agreed that the GESSEVEN brand distinguishes them from other suppliers in the market.
However, only 53.3% confessed that they understand what buyers look for when purchasing their product. 20% stated that the marketing messages of GESSEVEN resonate with the target audience, 20% disagree, 46.7% neither agree nor disagree, and 13.3% strongly disagree. This data shows that only 20% of the employees felt that their marketing messages resonated with the public. This result indicates that the company may use the wrong marketing messages to attract clients.
When asked whether the company integrates social media into its traditional marketing services, 33.3% of the respondents strongly disagreed, 26.7% neither agreed nor disagreed, 20% agreed, and 20% did not agree. This statistic implies that despite selling digital services, the company had fallen back in utilizing social media, a potent advertising tool. However, 53.3% of the respondents agreed that what the company offers is of real value to potential clients, 40% neither agreed nor disagreed, and 6.7% disagreed.
Discussion
Market
For a business to be successful, it has to understand its market. This understanding starts by actually discovering what the business wants to achieve. According to its vision statement, GESSEVEN wants to increase its benchmark for added value in its services within Portugal’s accounting and management domains. This change will enable them to be pretty competitive in the market (Sprong et al., 2021).
The second important thing in the market is listening to what the consumers say. The main goal of GESSEVEN is to satisfy its consumer needs, and therefore cannot do this without considering what they say (Sprong et al., 2021). Although there has been positive feedback from most consumers, the company should develop digital ways of collecting consumer feedback, such as relying on online surveys, adverts, tweets, focus groups, and observations.
Macro-Environment
This study will use the PESTEL analysis to evaluate GESSEVEN’s macro environment. The first factor is politics, which determines the political landscape of the region. There are two dominating political parties in Portugal, the Socialist and Social Democratic (van Steenbergen, 2021). António Costa, a representative of the Socialist Party, helped overcome the 2011 financial crisis, which established financial stability in the country (van Steenbergen, 2021). Simultaneously, the political environment promotes innovation and a collective approach to problems (van Steenbergen, 2021).
The economic aspect draws attention to the country’s financial health. According to van Steenbergen (2021), the country experienced economic challenges in 2011 and applied for a bail-out to cope with an issue. Since then, economic growth has been present because GDP is at its pre-crisis level while the unemployment rate keeps declining (van Steenbergen, 2021). The following factor refers to social processes, and Portugal witnesses high levels of uncertainty avoidance and responsibility for others (van Steenbergen, 2021). Simultaneously, one should acknowledge that modern people are more likely to use software products and services because they are cheaper and more effective.
Technological aspects additionally impact businesses, and the third component of PESTEL analysis focuses on it. Modern technological advancements contribute to the spread of online technologies and remote working. This information denotes that the demand for GESSEVEN services is expected to rise.
The environmental aspect is additionally significant because Portugal is subject to global warming, ozone depletion, and water pollution (Kabayo et al., 2019). That is why GESSEVEN is expected to ensure that its activities solve or, at least, do not contribute to the problem, and a suitable strategy is to rely on corporate social responsibility.
Finally, the legal sphere focuses on the fact that in Portugal, firms should draw attention to their employee health and promote equal opportunities (van Steenbergen, 2021). The selected organization copes with the task because GESSEVEN neither offers harmful working conditions nor engages in discriminatory practices.
Internal Competitiveness
Resources
GESSEVEN has enough resources to run its errands, but compared to other external competitors such as SAP, the company needs more resources to compete suitably with these tech giants (GESSEVEN, 2021). These include more physical locations for their offices nationwide, more advanced computers to cater to a larger workforce, and other vital assets in this industry. This approach will allow the company to utilize its resources and improve its performance.
Capability
Due to limited resources, the company has not fully utilized its capabilities. With less than 100 employees, GESSEVEN is still a growing company, but it needs to ensure that it scales up to increase its relevance and general image in the market (GESSEVEN, 2021). Since capability depends on the deployment of the available resources, the company has shown that it can provide accounting and human resource services but needs to increase its assets as its consumers increase.
Core Competencies
GESSEVEN’s core competencies lie in the added values that they offer together with their services. The company is known for offering extensive customer care and after-sales services. Due to the company’s small size, it has been easy for them to establish interpersonal relationships with their customers, which has helped in customer retention (GESSEVEN, 2021). In addition, the company has a pool of very skilled employees who have been essential in ensuring it delivers its best to consumers.
SWOT Analysis
To further evaluate this organization, this study has used strategic techniques to evaluate its internal and external environment. This assessment will start with the SWOT analysis, which explores the strengths, weaknesses, opportunities, and threats.
One of this business’s strengths is that it has the expertise needed to perform its duties. The company has a strong task force that conducts all the accounting, human resources, taxation, and other services.
The company’s main weakness is not utilizing the digital space to market its products. Such online absence leaves them behind competitors and reduces brand recognition in the market (Namugenyi et al., 2019).
They have the foremost opportunity to optimally utilize the available task force to get good results. GESSEVEN has a well-trained pool of expertise but cannot be productive without utilizing them. The company must integrate their employees into their interests and enable them to achieve any set goals.
The main threat that the company faces is other competitors, especially established companies such as SAP, which provide similar services on a large scale.
Project Decision Making
Segmentation
Market segmentation involves grouping buyers according to different characteristics that define them. The main methods of segmenting consumers include homogeneity, distinction, or reaction to goods and services offered (Akkaya, 2021). For GESSEVEN to suitably meet the needs of its consumers, it has to ensure that it segments them according to their needs (Akkaya, 2021). In this case, the company may have to segment consumers who require accounting services from those who require human resources.
Additionally, they will have to segment companies depending on their size, whereby large firms will be grouped on their own and small firms on their own. This approach will enable them to fulfill the needs of their consumers differently according to each consumer’s preferences.
Positioning
Market positioning is important because it influences consumer perception of a brand or product. The main aim of market positioning is to create a mental image of a brand or product so that the consumer can perceive it (Saqib, 2020). GESSEVEN should associate its brand with its attributes, benefits, and product use.
Regarding product attributes and benefits, GESSEVEN should create an image that it is the leading company in providing technological solutions to all the market accounting and human resources challenges. The company can use testimonials to increase its authenticity and trust with its consumers (Saqib, 2020).
Regarding product use and application, GESEVEN should position its software as user-friendly and less time-consuming. The company should ensure that its interface is easy to access and run so that consumers do not undergo rigorous training to gain experience using these products.
Marketing Mix
The marketing mix contains the four P’s: product, price, place, and promotion. The first P, which stands for product, seeks to find whether the service or goods produced by GESSEVEN meet consumer needs (Badi, 2018). According to the company’s survey, there was a high rate of consumer satisfaction, which implies that the goods produced meet the consumer’s needs.
The second P stands for price, which seeks to determine what the consumers are willing to pay compared to what the company charges. Since the company is still small, it has used a low-pricing strategy to gain clients and increase its customer base (Badi, 2018). In addition, the low price makes it compete with large firms effectively. However, as other costs will be incurred, including advertising costs, the price of their services will have to go high. The company must plan exclusive discounts for its random customers to cater to this.
The third P stands for place, which defines the distribution area of services sold. GESSEVEN only deals with services, indicating that it does not need manufacturing facilities. The organization can take all the actions online, which is beneficial because this approach leads to low prices. However, it is reasonable to open offices across Portugal to ensure that potential customers can visit them and become more familiar with potential services.
The final P stands for promotional activities the company should use to ensure its brand is familiar to the consumers. GESSEVEN will have to use joint promotional activities, which include advertising and personal selling, to promote their services. Advertising is essential because it will make the brand familiar to the consumers; in this case, they can use celebrity endorsements (Badi, 2018). On the other hand, personal selling is essential for software companies because they need consultation and clarification of their services.
Action Plan
The action plan for GESSEVEN will provide a comprehensive strategy to reach its ambitious objectives. To ensure the success of this plan, it has been divided into three distinct action-makers: brand, social media agency, and influencer. Each organization or group of individuals has been assigned a specific campaign designed to achieve its unique objectives.
Each campaign will have its own defined target, execution deadline, length of the campaign, budget, key performance indicators (KPIs) to measure the campaign’s success, and data suggestions to help inform the decision-making process. All of these components will be used to create a comprehensive and effective strategy that assists GESSEVEN in reaching its goals.
Brand
GESSEVEN’s brand campaign will be managed by the organization. The campaign to increase brand familiarity and customer engagement involves creating content such as social media posts, blog articles, emails, chatbot conversations, new website pages, videos, and newsletters to increase customer trust and establish GESSEVEN as a reliable and trustworthy service provider.
The content will be tailored to the target audience of potential customers looking for reliable and innovative services. It will focus on GESSEVEN’s unique offerings in accounting and human resource management, emphasizing GESSEVEN’s commitment to innovation, efficiency, and reliability.
In addition to these innovative services, the content will also highlight GESSEVEN’s customer-first approach, showcasing how each customer is valued and respected. This content will be designed to create a lasting impression and connection with potential customers, allowing them to feel confident that GESSEVEN is the right choice for them.
The objective of the GESSEVEN brand campaign is to increase brand familiarity and consumer engagement. The target audience for the campaign is primarily customers in Portugal, with a focus on those between the ages of 30-50 who are married or single.
The execution deadline for the campaign is three weeks, and the length of the campaign will be six months. The budget for the brand campaign is $500, and the KPIs are brand familiarity, customer trust, and customer satisfaction. Data suggestions for the campaign include customer segmentation, market size, user preferences, and price strategies.
Social Media Agency
The social media agency team will be responsible for integrating social media into the company’s traditional marketing services. They will be developing a comprehensive campaign to promote the company’s services through various social media platforms, such as Facebook, Instagram, and Twitter.
This campaign will include creating content that is tailored to the target audience, engaging with customers to gain more insight into their needs and wants, and analyzing the results of the campaign to track its effectiveness. The team will also be exploring additional strategies to ensure that the company’s social media presence is optimized with the ultimate goal of driving more traffic and increasing conversions.
The objective of GESSEVEN’s social media agency campaign is to increase brand familiarity and customer engagement. The target audience for this campaign is customers from the European region and beyond, focusing on customers who are interested in accounting and management services. Moreover, the target audience should be those who are already aware of the brand but have yet to become customers.
The execution deadline for this campaign is three weeks, with a length of six months and a budget of $500. KPIs (KPIs) for this campaign include the number of followers, likes, comments, and shares on social media accounts. Data suggestions for this campaign include tracking customer engagement on social media platforms, such as Facebook, Instagram, Twitter, and LinkedIn.
Influencer
The influencers will focus on reaching out to potential customers through influencers. It will include a campaign to promote the company’s services through influencers with large online followers. The topics of content that influencers will create will consist of accounting and management services from GESSEVEN, customer experiences, and the advantages of using GESSEVEN services. This campaign aims to increase the company’s visibility and brand awareness. The target audience should be those who are already customers and are willing to recommend the company’s services to others.
The execution deadline should be four weeks, the length should be six months, the budget should be $1000, the KPIs should be click-through rates, likes, comments, and shares, and the data suggestions should be target audience insights, brand awareness, and content engagement.
Table 1. Action plan: who, does what, when, and budget.
Conclusion
Although GESSEVEN has been in the market for a long time, the company has not yet fully expanded. This issue may be due to internal factors such as resources and capabilities, but this is the time they should consider expanding their services. There has been an increase in software demand in companies to replace humans.
Therefore, the company should ensure that they segment their consumers appropriately, position themselves as market leaders, and apply the 4P’s marketing mix. These recommendations are reliable and credible because they rely on scientific evidence from reputable sources. The research has additionally drawn specific attention to the Portuguese environment to use information that is relevant and specific to GESSEVEN.
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