Marketing Research Proposal Assignment Paper on Proposal-Online Marketing of Iron and Steel by Lisco Company

Proposal-Online Marketing of Iron and Steel by Lisco Company

I am a management and marketing major where I am taking masters in the latter discipline. I want to point out that Libyan Iron and Steel Company (Lisco) would benefit greatly from its products if expands its online marketing. Marketing online create an avenue for the company to expand its territories and have a larger segment in the market. Therefore, the project is worthy investment because the apparent changes in technology have made marketing much easier (Ba, Whinston, and Zhang 67). Among the notable impacts of technology are the way marketing can be enhanced and the way certain information can reach customer within short durations of time.

Lisco is among the largest steel and iron making companies that operate in North Africa. The company is based in Misrata (Elasfer, and Karami 58). More so, the government of Libya owns it. Therefore, most of its subsidies come from the government. The company’s foundation stone was laid officially in 1979 and was ranked third among the largest producers of steel and iron in Arab countries in 2004. In addition, the company has production capacity of about 1324000 tons of steel that is liquefied. It operations are supplied by iron ore imported from Sweden, Canada and Brazil which is used as raw material (Ellid, and Fallagh 34).

Furthermore, the company’s gas is utilized to produce hot briquetted iron and sponge iron. Approximately 54 percent of the company’s export is HBI. The rods and bars shipped to Tunisia and Egypt amounts to around 23 percent of the exports of the country (Hast 45). The company also has its own port that has specialized facilities. The rebar produced in the country is sold locally and the domestic industry consumes approximately 25 percent of the steel products of the company. The company exports more that 60 percent of its products with most of the steel products being exported to Spain and Italy (Pan, Ratchford, and Shankar 14).

Therefore, by integrating online marketing, Lisco Company will attract more investors and customer to the company. This will enable the company stand a better chance of competing with other companies that have developed globally. Other companies in the field of steel and iron have taken into international marketing. Apparently, the world is becoming global and companies need to strategize and integrate online marketing in their normal management and marketing (Jannat, and Abdulmalek 90). The online marketing will enable the company benefit maximally from the world, which is adversely changing in terms of technology. Moreover, online marketing will enable the company interact with its members and clients.

Nevertheless, online marketing is cheaper compared to any other form of marketing. This is because it will enable customers understanding the different products being offered by the company (Kollock 12). There is also a need for the company’s management to develop skills and qualities that assist them focus their attention in its core competencies, daily operations and towards the ramification of its marketing decisions. Online marketing will therefore, enable the management get some skills and qualities such as full comprehension of its market, the different brands of iron and steel offered in the market, how different products are being marketed, different pricing methodologies of its products, and the risk mitigation and cost saving involved in marketing its products (Mich, Franch, and Inverardi 65). Other inside skills and qualities could be correlation of sustainability to management and marketing, significance of projects management, development, and innovation of newer marketing models.

Management also need outside skills such as understanding of policy drivers and their impact to market demand, main changes that shape the global market place, the comprehension of multi-cultural perspectives, innovation of sustainability financial reporting, improved communication, and listening skills with stakeholders and customers (Regev, and Nisan 45-54).

Nevertheless, some skills traverse both inside and outside boundaries. Such skills include greater understanding of the complexity of organizations, systems thinking, negotiation skills used within different project teams, improved interpersonal skills, and external business stakeholders or partners (Regev, and Nisan 69). Online marketing will therefore, make the company grow immensely.

Works Cited

Ba, Sulin, Andrew B. Whinston, and Han Zhang. “Building trust in online auction markets through an economic incentive mechanism.” Decision Support Systems (2003): n. pag. Print.

Elasfer, Elhusein H., and Azhdar Karami. “The Effectiveness of Selected Human Resources Management Practices on Organisational Performance and Objectives (A Case Study of the Libyan Iron and Steel Company).” (0): Print.

Ellid, M. S., and F. Fallagh. “Mössbauer studies of iron ore from East Awinat mountains in Libya.” Hyperfine Interactions (1994): n. pag. Print.

Ellid, M. S., and F. Fallagh. “Mössbauer studies of iron ore from East Awinat mountains in Libya.” Hyperfine Interactions (1994): n. pag. Print.

Hast, Adele. International Directory of Company Histories: Volume 4. Chicago: St. James Press, 2007. Print.

Jannat, M. B., and J. S. Abdulmalek. “Reducing the effects of harmonics produced by electrical arc furnaces in Misurata steel plant.” (2012): Print.

Kollock, P. “The production of trust in online markets.” (1999): Print.

Mich, Luisa, Mariangela Franch, and Pierluigi N. Inverardi. “Market research for requirements analysis using linguistic tools.” Requirements Engineering (2004): n. pag. Print.

Pan, Xing, Brian T. Ratchford, and Venkatesh Shankar. “Can price dispersion in online markets be explained by differences in e-tailer service quality?” Journal of The Academy of Marketing Science (2002): n. pag. Print.

Regev, Ori, and Noam Nisan. “The POPCORN market—an online market for computational resources.” (1998): Print.