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Online Purchasing: Googles Digital Strategy
Introduction for Google Company
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Google search engine company.
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Founded in 1998 by Sergey Brin and Larry Page (Hosch & Mark Hall, 2020).
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Headquarters in Mountain View, California (Hosch & Mark Hall, 2020).
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Purpose to sell new and used cars online; offer auto insurance; IoT and data monetization
Google is an American search engine company founded in 1998 by Sergey Brin and Larry Page, which is settled in Mountain View, California (Hosch & Mark Hall, 2020). It was founded as an online search firm, although today, it offers many services. They include applications such as Gmail, Google disc, Google Classroom, Google Maps, Google Calendar. The company aims at selling new and used cars online and offering auto insurance for all customers. The other purpose of the Google Company is to acquire IoT and data monetization opportunities in the digital market. The companys objective is to sell 20% of new cars and 30% of used cars in the USA within 3 years. The current presentation provides a digital strategy for Google to reach these goals.
Understanding Customers
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Analyzing customers needs
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Creating a convenient online platform
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Focusing on the clients needs
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New vs. used cars availability
The first goal of the Google Company is to sell cars online. For this purpose, the firm needs to scan the real-time automobile digital market to understand who would become buyers of used cars, who would purchase new cars, and how it would be more convenient for people to buy automobiles online. It is important for Google to understand their customers income and provide products available for everyone. Google should consider the economy of a country where they plan to sell the goods and create a convenient online platform so that individuals of all ages and cultures could utilize the service. The company is to focus on their clients needs rather than the demands of the digital segment. Such an approach will make it possible to attract more capital to the platform.
S.M.A.R.T. Goal Specific
Sell 20% of all new cars and 30% of all used cars in the USA within the next 3 years
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IoT technology
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Data monetization opportunities
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Data protection and privacy
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Digital Safety
The purpose of Google is to sell 20% of new cars and 30% of used cars in the USA within the next 3 years and give auto insurance to their customers. Google also seeks to provide IoT technology in their goods and looks for data monetization opportunities. This means redenring access for all customers to the companys data to attract their attention to the goods and foster their confidence in the production. The method enables a business to increase its income and revenue. For this purpose, the Google Company also seeks to protect their clients personal and financial data and make purchasing safe in the automobile online market. It is also critical to give everyday customer support and cost compensation in case of any purchase error. Hence, Google encourages people to buy the products online in the shortest terms.
S.M.A.R.T. Goal Measurable
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The number of cars sold each year
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The budget required
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The number of customers attracted each year
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The risks and their management
The success in selling automobiles and attaining IoT and data monetization possibilities can be measured using the campaign results research. Google should analyze and define how many cars it has sold each of the three years provided for reaching the goal. It should also calculate what the percentage of vehicles sold. The budget required for the purpose needs to be determined and counted. The strategy needs to be slightly modified each year depending on the results presented in the previous one. The company should also identify how many customers it has attracted during the defined period and the measures that have made it possible. Google needs to investigate the risks of the campaign and its management. Hence, the firm will be able to find out the results of the strategy and its rationality.
S.M.A.R.T. Goal Attainable
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Annual revenue 8$ billion (Elias, 2019)
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Increasing the sales team
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Leadership open to new possibilities
The goals of the company are realistic and reflect the reasonable estimation of the opportunities of Google. Googles CEO claimed that the annual revenue of the company makes 8$ billion (Elias, 2019). Thus, the company has the opportunity and budget enough to sell the number of cars planned within the defined time. In addition, Google Cloud chief Thomas Kurian claimed that the company aims at increasing its sales team (Elias, 2019). This means that the company will have sufficient staff to accomplish the strategy. The technology leadership of the business is open to new possibilities, and therefore, Google will seek to extend its ambitions in the digital industry, which is increasingly developing these days. Hence, the goal of selling cars online and offering insurance is attainable and efficient and can be reached within the planned period of time.
S.M.A.R.T. Goal Relevant
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To arrange information in applications and provide guidance
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Auto insurance for the cars provided
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Creating applications with IoT technology.
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Earn money for the customers access to information
The primary objective of the Google Company is to arrange information to make it open for everyone regardless of culture or development level. Google created trading applications designed to enable buyers to acquire a car easily and to provide guidance in this area. When buying a car, a person may also want to gain auto insurance to protect their vehicle and save their money if an accident happens. Thus, the idea of offering insurance in addition to automobiles is relevant. IoT technology will assist in creating the applications and implement them on the customers devices. Data monetization requires the client to pay not only for the product but also for access to the information about it. Hence, this makes it possible for a company to earn more money in the digital field.
S.M.A.R.T. Goal Time Oriented
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The period for the goal required is three years
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Target for each year
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Flexible time-frame
The goal of the company has a specific time-frame, which is the next three years. The period needs to be divided into three, and each year should have its demanded results. For example, in the first year, Google can sell 10% of all used cars and 5% of all new cars in the USA. The second years target can be 10% and 7% more sold cars, accordingly. Further, by the end of the third year, the percentage should reach the final goal, which is 30% of used cars and 20% of new cars in general. The target date can be less than the calculated time if the strategy is a great success. However, the deadline can be extended if there is any delay in carrying out the project. Therefore, the time-frame of Googles digital strategy is flexible, although it would be better to implement it within the defined time.
Real-Time Holistic View
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Real-time customer profiles
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Placing customers to different segments
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AI and ML tools for a holistic analysis of the market and needs
The view of Google on the customer needs to be real-time and holistic. For the success of the strategy, the company should support many brand initiatives. An example of an initiative is analyzing the customers real-time profiles to provide relevant and interesting information based on their wants and needs. It is also important to place different customers in different segments to send the right content to the right person. AI tools can enable Google to analyze the market and customers and improve the online purchasing system. ML assists in creating applications based on the information from the profiles. The company should consider the appropriate time for buyers to acquire cars and the market complete situation.
ML Requirement Analysis
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If a task is small using standard formulas
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Complex task there is a need for GPU and a dedicated graphic card of high end
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Creating ones own learning system
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Using a cloud service
Machine learning is one of the functions of artificial intelligence (Singh, 2019). It enables a system to increase its efficiency, productivity, and other working aspect based on its previous experience, without being programmed on purpose. Machine learning systems can easily do complex calculations and other mathematical tasks. The requirements for ML are different depending on the qualities of a machine.
If the task is small and can be accomplished using standard formulas, there is no need to have a big system (Singh, 2019). If the task is more complex, the system will need a GPU and a dedicated graphic card of high end (Singh, 2019). However, if ML equipment cannot accomplish the task, one should create their own learning system or use a cloud service (Singh, 2019). The applications for selling cars and online advertising for Google are complicated enough, and hence, a GPU and a graphic card will be used in the strategy.
Budget and Pricing
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Compare and analyze prices
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Try new opportunities
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Dynamic pricing
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Value chain transformation in IoT
The important factor in the digital strategy is considering the available budget. The Google Company needs to compare and analyze prices for vehicles in different countries and regions to create prices for their cars based on customers needs and opportunities. As the companys financial strength is to be open to new possibilities, it should attract investors to the project and try new fields and offers. It is also crucial to make pricing dynamic have an opportunity to change it according to new economic conditions and individual needs.
However, IoT technologies have certain financial difficulties as it transforms the existing value chain. When selling online, the company fixes the price not only for the cars, though also for the subscription (Hunt, 2019). This makes the relationship between the customer and the firm and their transactions more complex (Hunt, 2019). Thus, there arise challenges in setting the price for goods being sold online.
TechQuilibrium
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New system based on technical achievements
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Equilibrium in traditional and digital:
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Socials platforms
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Billboards and magazines
Technology has evolved through the years and is now increasingly developing. The new system based on technical achievements has appeared in the modern world. Therefore, a persons working in the digital market job has become more complicated and now requires supporting technical equilibrium. In creating the strategy for selling the cars, the company should combine traditional marketing means with digital ones. The traditional way is to place information on billboards and magazines. Digital marketing involves placing advertisements on websites and social platforms. Advertisers need to consider the existing risks and a way of mitigating them. Additionally, it is important to take into account the limitations and challenges accompanying selling cars and data monetization. Thus, there is a need to analyze all the strengths and weaknesses of the company.
Strengths
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Innovative algorithms for searching
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Wide range of online products and services (Pratap, 2020).
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Online advertising
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Google Clouds
The Google Company has many strengths important for the digital industry. The first strength is that Google has innovative algorithms for searching (Pratap, 2020). Today, there are many other search engines created, although Google remains and the most popular one. According to Pratap (2020), Googles share in October 2019 was close to 88%. In addition, Google has a wide range of online products and services (Pratap, 2020).
They include Google maps, Google Chrome, and also Android system. The other strength of the company is the creation of Google Clouds. According to Pratap (2020), the cloud platform has a 4% market share. It is also important that Google utilizes online advertising, which is now its main source of income. Google had a market share of about 73% in the search advertising industry in 2019 (Pratap, 2020). As a result, Google is a popular brand today, which leads to its fast development and revenue growth.
Weaknesses
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Too dependent on digital advertising
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Aggressive marketing
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Concerns about personal and financial privacy
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Employee protests
The Company also has weaknesses, which causes some users not to trust the search system. Firstly, Google is too dependent on digital advertising (Pratap, 2020). However, it needs to update its old-fashioned channels and create new ones. In addition, Googles marketing is aggressive and can be sometimes illegal. Secondly, the company has great concerns about personal and financial privacy. Due to the issue, the company was forced to close some projects.
Thirdly, there are great employee issues in the Google Company (Pratap, 2020). In 2018, there were many strong protests inside the firm. More than 20000 employees stopped their work and complained about sexual assault and discrimination at their working place (Pratap, 2020). The protests were also related to the Dragonfly project and the ones concerning the military. People claimed not to have an adequate corporate culture in the company.
Risks of the Strategy
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Identity theft
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Credit card fraud
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Fake online stores
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Customer safety
Selling cars online has risks such as identity theft, credit card fraud, fake online stores, and customer safety, among others. Firstly, criminals can control and steal customers personal information and use it for their purposes. Secondly, criminals can also receive personal information, such as credit card numbers or passwords, by pretending to be real sellers. In reality, there is a great number online shops that send no goods, though only receive money. It is often hard to find them as they are usually anonymous, and their phone numbers are unreal. This makes a danger for customers as they cannot address police on the issue.
The third risk is no compliance of the goods represented in online stores and the safety of purchase. Products shown on the screen can be different from the ones sent to the buyer. To mitigate this risk, the company can offer customers a reimbursement for the goods if they do not correspond to the criteria needed. Thus, the Google Company should pay attention to protecting their clients private information and providing product compliance.
The Everything Customer
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Mix of traditional and online purchasing
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Combination of the new and the old
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Attention to privacy and safety
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Applications and support for selling available from any device and at any time
In recent years, there has appeared a new term, Everything Customer. Everything Customer is a client who expects to have a mix of digital and traditional purchasing and a combination of the new and the old (Understand your Everything Customer, 2020). The customer wants to be connected to other people and at the same time be alone (Understand your Everything Customer, 2020).
They pay great attention to their privacy and online safety. To satisfy the demands of Everything Customer, the Google Company needs to provide them with applications for buying that can be used from any device, whether at home, at work, or in transport. The applications should be accessible at any time of the day as some buyers can have time for searching at night, while others may be available during the daytime. In addition, the customer support system is to have enough workers to assist buyers at any time and conditions. Thus, the company should not focus on a certain sector, though rather cover a wide range of people and services.
Impact of the Strategy
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More information and choice
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Fast and efficient searching
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Attracting more customers to the market
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Connecting with clients effectively
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More money for businesses
The online purchasing strategy has a great impact in todays emerging Digital Society. Firstly, selling online provides consumers with more information and options to choose from. Digital shopping is more convenient for customers as they can buy products from home. In addition, online shopping enables to search faster and more efficiently. It also improves customers online experience and thus, attracts more customers to the market. Data monetization has a positive impact on businesses as they receive money not only for their products and services though also for access to information. The strategy will also enable the current incumbents to connect with their clients more effectively. Thus, this idea is useful both for buyers and the company and provides more opportunities in the modern digital society.
References
Hosch, W., & Hall, M. (2020). Google. American company.
Hunt, P. (2019). IoT pricing challenges.
Elias, J. (2019). Google Cloud is generating $8 billion in revenue a year and plans to triple sales force.
Pratap, A. (2020). Strengths and weaknesses of Google: A SWOT analysis.
Understand your Everything Customer. (2020). Web.
Singh, H. (2019). Everything you need to know about hardware requirements for machine learning. Web.
Do you need this or any other assignment done for you from scratch?
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