STRATEGIC MARKETING MANAGEMENT

Strategic Management of RIM

Strategic Management of RIM

Introduction

In this paper we are going to briefly analyze the strategic management process of Research in Motion Limited (RIM). Research in Motion Limited (RIM) is a Canadian based wireless and telecommunication company which is well known for the development of smart phones such as tablets, and BlackBerry's. In earlier stage the development of RIM was financed by the Canadian venture and institutional capital investors, with the help of a private placement funding in a company which was being held privately. The headquarters of Research in Motion Limited (RIM) are located in Waterloo, Ontario. The company was founded by Mike Lazaridis, who was the CEO of the company, along with Jim Balsillie, but he retired from that position on January 2012. Now the current CEO of the company is Thorsten Heins. An important aspect about the company is that it is located on NASDAQ stock exchange which is in the United States of America, instead of being listed at the Toronto Stock Exchange. RIM develops its own software for its devices, using C + +, C technology and Java. RIM has also developed and sold components incorporated for wireless data (SWEENY, 2009).

Research in Motion is engaged in the research, design, manufacture and sale of wireless communications products, services and software's. The company recorded revenues of $ 19.907 million during the fiscal year ended February 2011 (FY2011), in increase of 33.1% over FY2010. The company has experienced a major Increase in its revenues primarily due to increase in device shipments and increase in service revenues as a result of additional subscriber accounts. The operating profit of the company was $ 4.636 million during FY2011, to increase of 43.2% over FY2010. The net profit was $ 3.411 million in FY2011, to increase of 38.8% over FY2010.

Task 1.1

The marketing strategy of RIM is based on the needs of individuals and organizations. The customer perspective of market orientation, seeking not so much the product, but seeks the solution to the problem that the product can offer. The role of strategic marketing is to follow the evolution of the market and identify the different product markets and segments, actual or potential, according to the different needs to be met. The product-markets represent an economic opportunity which must evaluate the attractiveness, which is measured in quantitative terms, through the notion of market potential, in terms of quality, through its accessibility or its organization, in dynamic terms, in based on its duration economy. For the company, gaining the ability to compete in a specific product market depends on its competitiveness, that is, its ability to meet the demand of its customers and competitors. This competitiveness will exist to the extent that the undertaking will have a competitive advantage. Following are the steps involved in the development of strategic marketing:

You decide what should happen in the future and keep a grip on the development of your business

You look systematically at your current situation, future developments of the ...