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MKT 327: IBM Watson Project
Transcript of MKT 327: IBM Watson Project
IBM Watson dominates e-commerce and social media by predicating and analyzing market trends through mass amounts of data.
From innovation to creation...we strive to develop and lead the industry in advanced information technologies.
Our core values will guide the company today by maintaining respect for all individuals involved using unparalleled customer service and the acquisition of excellence in all tasks set forth.
IBM will harness technology to drive business innovation and growth while providing a distinct advantage in today's advancing environment.
• IBM’s strategic infrastructure is to make our technology as user friendly as possible to gain a competitive edge against leading competitors.
• IBM takes large data and intertwines it with new technology.
• IBM strategic infrastructure is to build relationships between the 5 arenas they specialize to create a system that can advance technology more efficiently than our leading competitors.
They have differentiation in how they intend to make such strides can be seen in their learn strategies and employee counts. They not only focus on what they do best, but they have a wide focus on 5 arenas.
They gain business insights from top executives of businesses in the industry in order to champion their focused purpose.
Their efficiency in utilizing the different employees from different departments to achieve their goals and helps to lower costs in comparison to conducting surveys and forums.
• Microsoft would try to grab data to lead market trends.
• Watson collects data from other sources such as Wikipedia and other sources to gather its information.
Intermediaries and Buyers
• Apple, Microsoft
• Any successful company that strives to have the leading products.
• Apple Siri
• Google Now
• IBM’s suppliers are firms who provide research and development services.
• Firms that provide software engineers to collaborate and capture data for analytical purposes.
Rivals of IBM
• Apple Siri is very general when answering questions, where as Watson wants to become an expert and does it at a quicker rate.
• Google Now, personal assistant on phone.
• Cloud computing is useful to IBM because of our high number of employees and our 5 different business arenas. At any given time any employee can access any information in the IBM database at anytime.
• Cloud computing technologies are useful to companies and private consumers because it is a secure location to store data, which can be reached at any time.
• IBM is using cloud computing to help customer service.
• It is able to sample large amounts of data unlike any other system allowing it to determine whether a new innovation will be successful of not.
# of employees
Integrating IBM’s management consulting capabilities to enable executable strategies to succeed in today’s environment through excellence and collaboration across the enterprise resulting in top positions in leadership, talent and constant change.
Alyson Kellner PID: A44309406
Emily Stowe PID: A44197261
Mackenzie TerHaar PID: A44655136
Prajakta Mehendale PID: A44843273
Amy Allingham PID: A21553838
Name & PIDs
Brand Management and Product Decisions
Watson itself is a core branding strategy of IBM-- identified not as a person but as a product. Brand awareness was created when IBM Watson won Jeopardy. It was able to claim its title as the most intelligent operating system compared to the human brain.
IBM Benefits from Brand Equity
Brand equity allows IBM Watson to focus on 10 different areas of expertise and partner with 25 different entities. By partnering with these companies, customers are able to continue building value and uniqueness among their competitors.
Product Innovation and Management
Core Product Focus
New Product Development
Data is continually renewed to offer the most up to date information for users of IBM Watson.
Dynamically Continuous Innovation
Watson's premiere on Jeopardy allowed for viewers to create a connection and familiarize themselves with the product.
Waston's entrance into the cloud arena allowed for IBM to keep up and enter into "the new world."
Direct and Missionary Sale Approaches
Types of Salespeople
IBM Watson provides over the phone sales to interested companies.
The field salesperson goes out to new customers so they can gain knowledge about the company.
IBM places technical sales people on site to support the technology segment they sell to.
IBM meets with third parties such as MSU students to gather valuable knowledge about their experiences.
IBM sells could computing.
Inside Sales Support
Pricing Objectives and Strategies
IBM Watson's price is highly sensitive because of the high elasticity in healthcare costs and other costs within the market.
IBM Watson uses a value-based pricing strategy because they focus more on the customer satisfaction than the price.
Customer Value Propositions
IBM Watson strives to be the leader in innovation through three different strategies including product leadership, operational excellence, and customer intimacy. Through these three strategies, IBM is able to value their clients by providing superior products and creating efficient operating systems.
IBM became well-known due to their first appearance on national TV winning the famous game show, Jeopardy.
Brand loyalty was achieved by demonstrating its abilities against a human competitor.
IBM is unique in a way that Watson itself should be recognized as a product rather than a person.
IBM's cloud computing gives its customers access from anywhere to process information.
Watson has the ability to outweigh the competition because their products are based off value rather than price.
Core product for IBM Watson focuses on continuous retrieval of new data. By partnering with many different market segments, IBM is able to facilitate usable data to the companies that they partner with.
Expanding on product development and spread into new arenas and companies plays a huge role in IBM's strategy.
The inside sales support team follows up with calls to interested companies in order to promote the brand and build awareness and loyalty.