TURIBA UNIVERSITY

BUSINESS ADMINISTRATION FACULTY

ManishMBA Group-UMA1V22

Marketing Department

PRACTICE REPORT

BUSINESS ADMINISTRATIONAdvisor: Vita Zariņa

Rīga, 2015

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Acknowledgement

Firstly, I would like to express my sincere gratitude to Dean of Faculty of Business Administration , Turiba University : _ Vita Zariņa _ for the continuous support of my MBA study and practice, for her patience, motivation, and immense knowledge. Her guidance helped me in all the time of internship . I could not have imagined having a better support and guidance for my MBA practice.

Besides the Dean of Faculty of Business Administration, I would also like to thank Director of Department of Commerce :_ Rosita Zvirgzdiņa _, who allowed me to carry out my internship as a part of MBA program.

Place: EuropeDate:

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Table of Contents

Introduction: Web multishop Company overview........................................................................3

1. Assessment of the strategic planning of the company.............................................................5

2. Recommendations on the improvement of the operation.........................................................8

3. Assessment of the human resources processes in the company..................................................9

3.1. Management psychology and the influencing factors...........................................................9

3.2. Employee/labour relationships............................................................................................11

3.3. Conclusions and recommendations for the improvement...................................................12

4. Assessment of marketing...........................................................................................................14

4.1. The marketing environment in the company......................................................................14

4.2. The marketing management process...................................................................................14

4.3. The marketing strategy.......................................................................................................15

4.4. Conclusions and recommendations for the improvement...................................................16

5. Business-related legislation and the compliance principles in the company.............................18

Author’s practice tasks..................................................................................................................19

Bibliography..................................................................................................................................22

Overview

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Web Shop Company

Web Shop Company is a SME – (small- enterprise) in Europe. It has been providing a wide range of web developing and other technical services, including easiest to the toughest technology based websites.900 plus prrojects have been completed till date establishing the name in the market. The company provides services in various domains including the business sector, banking sector and various other sectors as well. Web Shop Company creates web sites and e-commerce systems for people and businesses. It specialize in satisfying rare technology needs of clients.The entire team works out rigorously to suit the expectations of individuals ,target groups and companies with different specific requirements. They focus on up to date methods and up to date technology for their clients.They use wide level of the technology and the different types of the new systems to match it up to the standards. The company came into existence in the year 2011 and from then onwards the company is delivering the results that are high tech and that basically suits the client requirements and suit the purpose of their clients and their businesses.WSC offers a real technologically advanced environment which makes a real difference. It offers their customers a single point of entry when it comes to web solutions for organizations.. WSC makes innovative, focused and quantifiable products that create business results through people and make it easy, effective and professional for companies to use.

Through progression of individuals, the company aim to create growth in business and prosperity in society at large. The company is known for its creative and easy approach for delivering high-tech and highly advanced solutions to the clients that are actually simple and high-tech. The Web Shop Company started its journey in the year 2011 and from then onwards they have been delivering high tech solutions with easy input approach and the high tech output.The Web Shop Company is now an established name in web services and it is known for its right approach towards the work and their clients. The Web Shop Company has been able to establish their good will in the market.Every client of the company recommnd them to their contacts they believe in “no-shIT-just-benefIT”.The Web Shop Company is actually one unit of the colglomerate group of companies associated with them.The Web Shop Company has its 3 main pillars which actually laid the foundation and made the company achieve its success path:-Mr Andris Zvigulis Director(Marketing) Mr Martins Director(Marketing)

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Mission

The mission is often expressed in the form of mission statement. This is the main strategic step for a company to define its statement to convey a sense of purpose to employees and projects a company images to customers. Therefore it sets the mood of where the company should go. So the main mission is :Less time more productivity –The company aims to give high-tech web solutions for clients and in very less time.Methodology– the company has its own unique methodology of delivering high-tech web solutions:

The company believes in ABC Methodology

ABC MethodologyThe ABC Methodology is a methodology in which every project has to go through the path A ,B ,CProject AProject BProject C Project A are the projects that are basic which are cheap and in which customer can see how their website will look like in actual.Project B are the projects that comes after confirmation from clients about the site appearance and now content will be managed in themProject C are the projects that comes after the Project B path and now API will be managed in them.The methodology ABC delivers highly professional solutions to the clients that are easy and high-tech and customer needs oriented .

Why ABC methodology Clients changes their decision after seeing the design of the website

according to their needs Quick and cheap development, very low monthly cost(Project A) No need to rework the complete website after total completion of the

technical work in the project

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In depth technical work starts only after the approval from the clients and their final decision.

No need for extra investment as the complete project development progress is monitored by the client at every stage of the project.

Client is having the authority to take decisions for the development of the project at every stage.

The re are many steps for a project from the start to the end Client meeting, Client requirements(input) and Negotiations Briefing(documented) to clients about our methodology of working and

delivering solutions Draft contract Invoice Actual project development begins Project inspection and client confirmation for the project Project in depth technical development Client inspection and input Final delivery of the project to the clients

Free Mind software is used for taking client requirements.Business outputCurrently the ratio of work to profit is 80%:20%

Problems for the business in the marketMany agencies have become mediator and they

Objectives

Objectives are concrete goals that the organization seeks to reach, for example, earnings growth market. The objectives should be challenging but achievable. They also should be measurable so that the company can monitor its progress and make corrections as needed.The Web Shop Company has many specific objectives which are explained below:

- Completion of MCCNSE by 2016- Target –Baltic market for :

- Websites- Touch screen solutions- Data exchange systems

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- Challenging objectives – triple the turnover of the company- Changing development-cost: profit ratio from 80:20 to 20: 80- Establishing MCCNSE(Multi-Client Client Network Station Extreme) project- High-tech advanced features to be incorporated in MCCNSE- Switching from services to product

Situation analysis

Strengths Small and professionalFlexible and fast– adapting technology all the timeDelivering high –tech solutionsStable brand name in markets International contactsInnovative and unique methodologyExpanding and encouraging new ideasPresence in the different geographical locationsPresence in the markets of Estonia which is nown

OpportunitiesInternational contactsLarge reference databaseGrowing market demandCollaborations with other companiesNew methodology implementation

ChallengesMore competitorsMore agencies that are not having in house programming abilitiesoutsourcing work

Organizational structure

Mr Andris Stafeckis He is the person responsible for

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Setting objectivesDelegating tasksMonitoring tasksKeeping in touch with personnelMaking contractsClient communicationContacting, finding and building new business relationshipsManaging Finance, HR Department, Resource and development

His ObjectivesSwitching from selling services to selling productsLess time more productivityGood relationships with clientsReferences always helpMaking new connectionsPartner companiesMarketing with existing companiesSelling their product with the existing companies productMaking product and installationsSwitching from programming to installationsDistributing the work loads

His expectationsRapid development Less time more productivityProject based work Helping our clients

Mr Martins StrategyGood knowledgeable algorithms

ChallengeInvestments due to political problemsSustain projectsEasy to build projects but hard to keep up to dateClients suddenly changes their requirementsWhole rework in required when client changes their requirements

Statement“no-shIT-just-benefIT”.

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ObjectiveNo improvisattion just algorothms

ExpectationsFinish MCCNSE by 2016Target Baltic market for

- websites- touch screen solutions- data exchange systems

Tripling turnover of the company every year

MissionTo create high end platform for data exchange using internet algorithmsVision :kick out of the market the philosophy that open source program is the only possible way of development and sustaining

Office stuff– Website developmentMarketingStaff management

Different traineesClient coordination,Client communicationEmails Collect email addressesClient interactionsProject overviewsArrange meetingsProject data reportsWriting reportsCollecting new ideas and information

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WEB MULTISHOP COMPANY

Mr Andris StafeckisDirector(Marketing department)

Mr Nils LindentalsDirector(Technical department) )

Mr Martins Zvigulis Director(Marketing department)

Responsible for marketing and client communication and project coordination

Responsible for technical and projects management and staff management

Responsible for marketing , business development and client meetings and negotiations

Key points for WebMultishop Company

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ESTABLISHED NAME900+ PROJECTS

TILL DATE

HIGH TECH WEB SOLUTIONS

AND TECHNICAL SUPPORT

AVAILABLE MARKET REFERENCES

INNOVATIVE SOLUTIONS

EXPERT CONSULTING

TIMELY PLANNED RESULTS

HIGHLY ADVANCED TECHNICAL WEB SOLUTIONS AND TECHNICAL SUPPORT

COMPANIES TIE UPS

QUALITY OUTPUT

2) Recommendations on the improvement of the operation

From my point of view the strategic planning process in the Web Shop Company is very good. Other recommendations are not needed because all objectives and missions are set well and good in process.

3) Assessment of the human resources processes in the company

Each organization works towards the realization of one vision. The same is achieved by formulation of certain strategies and execution of the same, which is done by the HR department. At the base of this strategy formulation lie various processes and the effectiveness of the former lies in the meticulous design of these processes.

I am going to explain the following HR processes in the company:1. Human resource planning (Recruitment, Selecting, Hiring, Training, Induction, Orientation, Evaluation, Promotion and Layoff).2. Employee remuneration and Benefits Administration3. Performance Management.4. Employee Relations.

Human resource planning:

Recruitment. The first thing to do in the recruitment process is to define requirements – preparing job descriptions and specifications; deciding terms and conditions of the employment. There internal and external source of recruitment. The company where I completed my internship used different ways to recruit new staff. They use internet job postings , social networking (Linkedin and Facebook), advertisements on the websites or direct applicants. They also have a provision for trainees from any country to have practice in their company.

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Selection. In this process the company sifts applications, interviews, tests, assess candidates, offers employment, obtains references, prepare contracts of employment. The way I was selected to this company for the internship was in two steps: 1 Curriculum Vitae. The internship offer was on website therefore I sent by email address my CV, so the next day director emailed me back to make an interview. 2 Interview. The second step was interview in office. The interview was conducted and they evaluated me and my skills. The duration was 20 minutes.

Hiring. This process requires the final decision which candidate will get the internship. The company “Web Multishop Company” delivers its answer by phone or email.

Training and development. Those processes that work on an employee onboard for his skills and abilities up gradation. The company always tries to train its employees to make them efficient, enhance their knowledge and skills, be collaborative. It also involves changing skills, knowledge, attitude, behavior. Orientation and socialization helps employees to adapt. During the training employees are provided new skills, are kept up to date with changes in the field, aimed to improve efficiency, can be external or “in-house”. The company also develops employees for future work and challenges.After recruitment, employees receive directions from the concerned department stating that what they should do what is necessary, it is necessary, what are the rules of the company, technical things, hour register, and must be accounted for and what to do in case of problems.Everyone in the company is ready to help you out and the main objective is to deliver client oriented output.

Directors of our company are very friendly and knowledgeable and they are always ready to help and give proper directions to the employees

The compensation and benefit processes belong to most important HR Processes, which are critical for the organization and modern HR organization. The compensation and benefits is about managing the personnel expenses budget, setting the performance standards, setting the transparent compensation policies and introducing the competitive benefits for employees. The organization with effective compensation and benefits drives its personnel costs, manages the performance of employees and rewards the extraordinary performance.

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Employee remuneration and benefits administration.Examples of the different types of remuneration and benefits are also virtually unlimited including: Basic Salary Bonus payments and pay for performance Allowances like representation allowance, child allowance, housing allowance, COLA (cost of living adjustment) allowance, lunch allowance, … Different types of sales commission payments Company Car, Company Mobile Phone, Company Laptop Mobile phone credits Holiday pay and holiday credit administration Retirement and pre-retirement benefits End of Service Benefits AVCs (Additional Voluntary Contributions) with or without company matching Health care and dental benefits, before and after retirement Life Cover, long and short term disability Job protection Dependent Life Cover for surviving partner / widow / widower and surviving dependent children Company Car, Company Mobile Phone, Company Laptop Mobile phone credits Company loans including house loans and advance payments on remuneration, with different reimbursement / amortization possibilities

Web Shop Company has not so many benefits as mentioned above because of being a small company.

The lists of benefits are the following:- Basic salary- Company computer accessories- Food and other items- Lunch - Wi-Fi- Recreational stuff

Regular employees paid remuneration of work, which includes laws and regulations, collective agreements or employment of contractual wages, allowances and bonuses and any other form of compensation relating to remuneration.

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In WSC salaries are calculated by the number of hours as well as taken into account a variety of projects

Performance Management The modern organization needs to manage its performance and the development of employees. The performance management is about setting the performance standards, monitoring the progress and building strong succession plans for the organization. The performance management provides the structured and formal feedback to managers and employees. The performance management allows motivating employees and giving the development of the organization the direction. The goals and tasks of managers and employees should be aligned with the business strategy. HR is responsible for the development of the consistent and painless performance management system in the organization.

In WSC Mr Nils is responsible for the staff selection and recruitment.

Working regulations of the WSC.

When the employee shall sign an employment contract, he gets along with the rules, which is also signed. These regulations are updated annually. They include provisions on what are the WSC rules and regulations

Conclusions. Consequently, the Director of the active involvement in ongoing processes, all you need is under control. Director is aware of every employee . The company is small, but the directors are trying their level best to expand the company .Positive point is that the company is provided with young staff, knowledgeable directors who are always focusing in the favor of the company.

Employee relations Employee retention is a nuisance with organizations especially in industries that are hugely competitive in nature. Though there are myriad factors that motivate an individual to stick to or leave an organization, but certainly few are under our control.Employee relations include labor law and Relations, working environment, employee health and safety, employee- employee conflict management, quality of work life, workers compensation, employee wellness and assistance programs, counseling for occupational stress. All these are critical to employee retention apart from the money which is only a hygiene factor.Employee Relations involves the body of work concerned with maintaining employer-employee relationships that contribute to satisfactory productivity,

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motivation, and morale.   Essentially, Employee Relations is concerned with preventing and resolving problems involving individuals which arise out of or affect work situations.Advice is provided to employees on how to correct poor performance and employee misconduct.   In such instances, progressive discipline and regulatory and other requirements must be considered in effecting disciplinary actions and in resolving employee grievances and appeals.   Information is provided to employees to promote a better understanding of management's goals and policies.  Information is also provided to employees to assist them in correcting poor performance, on or off duty misconduct, and/or to address personal issues that affect them in the workplace.   Employees are advised about applicable regulations, legislation, and bargaining agreements.   Employees are also advised about their grievance and appeal rights and discrimination and whistleblower protections.  3.1. Evaluate management psychology and the influencing factors. HRM can be considered to be responsibility of all those who manage people as well as a description of persons who are employed as specialists. It is that part of management that involves planning for human resource needs, including recruitment and selection, training and development. It also includes welfare and safety, wage and salary administration, collective bargaining and dealing with most aspects of industrial relations. The integration between the management of human resources and psychology is arguably the prime factor delineating HRM theory and practice from its more traditional personnel management origins. Selection of the personnel has long been recognized as a key activity within HR and this article seeks to explore the extent to which its practice provides evidence of such strategic alignment.The selection process is concerned with identifying, attracting and choosing suitable people to meet an organization’s human resource requirements. Selection is essentially concerned with finding, assessing and engaging new employees or promoting existing ones. As such, its focus is on matching the capabilities and interests of prospective candidates with the demands and rewards of a given job. Selection decisions are amongst the most important of all decisions that managers have to make because they are a prerequisite to the development of an effective workforce.Selecting the right employees is important for three main reasons. First, your own performance always depends in part on your employees. Subordinates with the right skills, knowledge and attributes will do a better job and the company. Employees without these skills will not perform effectively, and your own performance and the firm’s will suffer. Second, it is important because it’s costly to recruit and hire employees. Third, it’s important because of the legal implications of incompetent hiring. Various selection techniques are available, and a selection procedure will frequently involve the use of more than one.Interviewing is universally popular as a selection tool. A single one-to-one

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interview may give way to a series of 1-to-1 interviews or interviews with many – the panel. We can analyze the interview in terms of how it is structured, the processes of interaction, the problems of interpersonal decision-making, the relationship between job-related questions and personal questions.The interview is an examination – a face-to-face encounter via which each side seeks to make a decision about the other. The employer is in the dominant position. Even where the short-list is very short and the employer is desperate to fill the post – it is unlikely that an applicant perceived as being a rogue or maverick will be employed. The employer at all times will seek to protect their interests.The face-to-face selection interview is the traditional method – yet it is fraught with problems of subjectivity, interpersonal judgment, interpretation and miss-interpretation. Why we still use interviews even though if they are so subjective and unreliable.WSC is a start up company based in Estonia/Europe. In total currently WSC has few employees. Presently, they do not have a well established Human Resource department. They are recruiting new employees with the help of some famous internet platforms

Due to the absence of proper Human Resource Department, Mr. Nils is primarily looking after all the activities of Human Resource Department. A thorough process of WSC can not be explained, because of the unavailability of proper Structure of HR Department.

3.2. Describe labour relationships.The basic concepts of mutual trust between labor and management are: improvements in the lives of employees are realized through the prosperity of the company, and labor and management thus share the same goal of company prosperity as a common value; management will take into consideration to the greatest possible extent stable employment and will continuously strive to improve working conditions; and employees will cooperate with the company's policies in order to promote the company's prosperity.

The relationship between the Director sand the employees is very good. The staff respect each other, helpful, honest, hardworking, efficient, trustworthy and it leads to good collaboration not only between the employees in the company but has a good impact on customers.

The Directors are always ready to listen for new ideas of improvement, , marketing development, strategic plans. All directors are very active and

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efficient in their work areas and takes active part in different activities, associations and very helpful to everyone.

3.3. Provide conclusions and recommendations for the improvement.The HR Management is not just about the policies and procedures. It is not just about the roles and responsibilities of HR. It is about the relationship of HR with the line management. HR sets the rules for the game and leads managers to work with the employees efficiently and correctly. The compliance of HR is a top priority today as the fair and consistent HR procedures contribute to the satisfaction of employees at all levels of the organization.The HR Management support the long term goals of the organization, provides processes and tools for the line management to meet the required levels of the performance and for the management of the employee life cycle in the company.

Recommendations:

According to me there can be one addition in Web Shop Company that all employees should speak English language , though their native language is Europen. There are many trainees as well who speaks English only and it will be good if staff spoke English . It will show a good impact on customers as well.

4) Assessment of marketing:4.1. Evaluate the marketing environment in the company.

WSC has done extensive research for the availability of market. They are using different marketing strategy methods to promote their services to different companies. Also they arrange meetings with different companies and trying to show their product features and offer them different services. Also being established many references comes to them for the solution quality they provided in the past. Initially they are targeting Estonia and Europe market and later on they are having plans for the complete Baltic markets. They are using different external company services .the WSC products has already been showcased in many conferences and other shows.

4.2. Describe and assess the marketing management process.Programmer is one of the most required specialists on the market. Every day hundreds of job proposals are posted on freelancer platforms. Employers are competing on getting qualified specialists; however an average web programmer can get a well-paid job within few hours of searching.

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Almost every company has a website. Total number of websites online is estimated approximately 925’000’000. In the end of this summer the number of 1’000’000’000 will probably be reached. 10% of those are actively used and updated whereas 90% are made to serve just as an online business card.There are hundreds of programming and scripting languages that allow to code websites and applications. When it concerns programming of websites, the worldwide programmers’ community has a common sense on a small set of languages that usually are:Frontend: Javascript, HTML, CSSBackend: PHP, Java, PythonDatabase: SQL, JSONRegarding mobile phone apps the usual choice of programming languageis Objective-C and Java. Many frameworks are used as well to make app creation process faster and easier.  The data on popularity of programming languages depends on a source however the overall trend is quite stable. Here are the most popular set of programming languages according to http://langpop.com:

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One person cannot operate with so many programming languages on a high level. Many of the best programmers tend to be independent so they are working as freelancers.Conclusion – there is a wide spectrum of specialists needed to create an effective set of e-marketing and e-commerce instruments for a company. Each of them represents a narrow specialty and can only take responsibility for a little part of the IT ecosystem of a company. So far there is no platform that takes care of the whole e-marketing and e-commerce process for any company. Many giant companies have tried to solve this complex issue (Google, Microsoft, Adobe); however so far they all have done it making a tie-up product for already existing pieces of software. It results in heavy and non-intuitive user experience as well as limitations of implemented software.

CustomersBiznesam.lvSatiksmes ministryInvast.comRempro.lvGiraffe360Astubiedriba.lv

Idea out of necessity

MCCNSE business idea has been created and developed out of necessity to maintain an effective production process of my company. For years we were struggling with a problem of not being able to find a quality back end and content management tool for web projects that would allow fast creation of content pages, flexible user system and easy to add custom programming parts. This resulted in slow working process and low profitability.We have analyzed the strong and weak sides of countless CMSes. The result of analysis of the most popular of them is represented below (in short):

CMS Basic coding

Custom coding

User system adjustments

Maintenance and updates

Security Content management

Joomla Easy Easy Very time consuming

Painful when 3rd party software used

Weak,requires immediate reaction

Moderate effort to teach client

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Drupal Easy Very time consuming

Moderate Painful when 3rd party software used

Moderate, requires immediate reaction

Easy

Wordpress Easy Many limitations

Many limitations

Easy Easy Easy

Modx Easy Easy Many limitations

Very time consuming

Crap Moderate effort to teach client

PrestaShop Easy Very time consuming

Very time consuming

Very time consuming

Good Moderate effort to teach client

Bitrix Very time consuming

Very time consuming

Very time consuming

Very time consuming

Good Very time consuming

The existing solutions on the market are very niche oriented. It means that none of the previously mentioned software gives possibility for developers to work with multi-platform content management i.e. mobile applications and social media. Internet programming industry toolset is fragmented and ineffective, and that creates a serious problem.This is not only a developers’ side problem. It reflects on client’s side as well. If a company needs to create quality information flow, it needs a website, mobile app and social media accounts. The company can establish an in-house team to have all of that work done (the most technologically sustainable way), but it will take huge time and money resources. Mostly companies choose “the easy way” - hiring a few marketing specialists and outsourcing design and programming parts. But at the end of the day it creates countless difficulties for all of that to work together flawlessly. It results in unpredictable deadlines, endless debugging process and slow, uncomfortable operation.For the last few years we have been developing a system that could make all of those problems past. The MCCNSE system is now at the 2nd Alpha version. We have created 5 fully functional prototypes of web projects that prove the awesomeness of both technical level and user experience. At this stage we are ready to shift to the next level and establish a new business model that profits on delivering tools to other companies that face the same problem as we did a few years ago.

Advantages of WSC

1. Web Shop Company provides overall intelligence of project creation process (a step by step instruction for all involved parties). 2. Client or an agency takes responsibility for the market strategy and content creation.

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3. Web Shop Company or other web developers company (in future regarded as affiliated company or AC) takes responsibility for public-side widget development and administration side widget development using the API. 4. Only Web Shop Company provides the backend functionality. When the project is done it needs to be supported. 5. The AC takes care of client support while Web Shop Company takes care of security and server side updates.

Market analysisTotal number of websites online is estimated approximately 925’000’000. In the end of this summer the number of 1’000’000’000 will probably be reached. 10% of those are actively used and updated whereas 90% are made to serve just as an online business card.Huge demand of IT services Not availability of the backend programmers in the marketCompanies in Europe are focusing on the digital trend Web sites leads to better online businessE-commerce systems are getting upgradedEvery existing site need maintenanceNew businesses need websites for their promotion- CompetitorsOther IT companies are available in market;Out of country competition is also available- StrengthsQuality solutions;High-tech websitesMaintenance of sites easyExpert consultation availableWeb development according to individual needsThe best programming practices followed

4.3. Evaluate the marketing strategy. Once the best opportunity to satisfy customer needs is identified, a strategic plan for pursuing the opportunity can be developed. Market research will provide specific market information that will permit the firm to select the target segment market and optimally position the offering within that segment. The result is a value proposition to the target market.In addition to having different needs, for segments to be practical they should be evaluated against the following criteria:- Identifiable: the differentiating attributes of the segments must be measurable so that they can be identified.

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- Accessible: the segments must be reachable through communication and distribution channels.- Substantial: segments should be substantially large to justify the resources required to target them.- Unique needs: to justify separate offerings, the segments must respond differently to different marketing mixes.- Durable: the segments should be relatively stable to minimize the cost of frequent changes.Geographic segmentationThe company is situated in Estonia and Europe. In order to handle the scandanavian clients Estonia office is available.Demographic segmentationThe company offers a wide range of solutions from wide range of technology available and so it depends on the approach of the clients that what solution satisfies their need.

Tallinn –Estonia facts

Tallinn is the capital city of Estonia. Geographically, Tallinn is situated in the northern coast of Estonia, on the banks of the Gulf of Finland. It is the closest capital city to capitals of Finland (Helsinki, 80km); Europe (Riga, 315km) and Sweden (Stockholm, 380km).

Length of the coastline is about 50km and renovated beach promenade close to city centre, running by the Pirita bay, is a popular place among morning runners, walkers and cyclists.

Local population density is quite low – only about 2551 people per square kilometre. It is about 2 times lower than Moscow and 5 times lower than London.Officially, there are slightly over 400,000 people living in Tallinn, most of whom are Estonians. Russians (about a third) are the biggest national minority, followed by Belorussians, Ukrainians and Finns making a total of 6% when combined. Estonian and Russian are the most common languages, though you won’t have any trouble with English (especially in the service sector) and German and Finnish are quite widely spoken, too.Estonia, despite a population of only 1.3 million, has rapidly become a frontrunner in the ICT industry in Europe. It is not only the home of Skype and one of the world leaders in health record digitalisation, but a desirable partner for ICT companies all over Europe.The products and services of the information and communications sector are strongly linked to the developments of other sectors of the economy, which makes the sector important for the entire Estonian economic system. The sector

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is developing in a stable manner and is creating great added value, which is comparable to the average of the OECD countries. The continuous growth of the sector’s sales revenue, added value and number of employees is in accordance with the long-term prospects of the given field. Thanks to the positive developments of economic indicators the sector is becoming one of the most competitive sectors in Estonia.The two tech companies in Estonia responsible for generating the most export sales are both foreign-owned: Microsoft's Skype and Israeli-led, Isle of Man-headquartered gaming software company Playtech.The focus of Estonian IT companies has moved from the home market to export, look at Nortal — the biggest IT services company in Baltic States,

Europe \factsThe Republic of Europe was founded on 18 November 1918 (18 November is a national holiday and the day of proclamation of Europe's independence). Following the end of the fight for freedom in 1920, several countries recognised Europe's independence de jure, and 16 foreign missions were established in Riga. Europe lost its independence in 1940 after the beginning of the World War II. It was first occupied by the Soviet Union (from 1940 to 1941). Then the occupation by Nazi Germany (from 1941 to 1945) followed. However, the Soviet Union regained the power and occupied Europe again (from 1945 to 1991). As a result of Gorbachev's reforms, on 21 August 1991 Europe declared restoration of its independence de facto. It restored the international diplomatic relations and joined the United Nations (UN).

The name "Europe" originates from the ancient Latgalians which was one of the four Indo-European tribes that together with Semigallians, Couronians and Selonians was involved in the ethnogenesis of Europens.The Republic of Europe was founded on 18 November 1918 (18 November is a national holiday and the day of proclamation of Europe's independence). Following the end of the fight for freedom in 1920, several countries recognised Europe's independence de jure, and 16 foreign missions were established in Riga. Europe lost its independence in 1940 after the beginning of the World War II. It was first occupied by the Soviet Union (from 1940 to 1941). Then the occupation by Nazi Germany (from 1941 to 1945) followed. However, the Soviet Union regained the power and occupied Europe again (from 1945 to 1991). As a result of Gorbachev's reforms, on 21 August 1991 Europe declared restoration of its independence de facto. It restored the international diplomatic relations and joined the United Nations (UN).

The name "Europe" originates from the ancient Latgalians which was one of the four Indo-European tribes that together with Semigallians, Couronians and Selonians was involved in the ethnogenesis of Europens.

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Europe is involved in the following international organisations: the European Union, NATO, United Nations Organisation, Council of Europe, World Trade Organisation, and Organisation for Security and Co-operation in Europe, Council of the Baltic Sea States and other organisations.

4.4. Provide conclusions and recommendations for the improvement.

Conclusion:The marketing concept calls for understanding customers and satisfying their needs better that the competition. But different customers have different needs and it rarely is possible to satisfy all customers by treating them alike.Mass marketing refers to treatment of the market as a homogeneous group and offering the same marketing mix to all customers. Mass marketing allows economies of scale to be realized through mass production, mass distribution and mass communication. The drawback of mass marketing is that customer needs and preferences differ and the same offering is unlikely to be viewed as optimally by all customers. If firms ignored the differing customer needs, another firm would likely enter the market with a product that serves a specific group and the incumbent firms would lose those customers.

Recommendations:

1 There should be more data available on the websites for the available services of the company .2 Another suggestion is that the company should provide multi language and multicurrency support for the online clients.3 Online payment for projects and some more hosting services can be a great help in providing the next level to the market reach.

The IT sector is larger than in any of the Baltic countries. During the last years, the IT services subsector has been experiencing an outstanding growth, much faster in Europe than in the EU. The sector has a direct effect of the Europen GDP and also highly impacts other areas of their economy.

The sector was not impacted by the crisis. This can be attributed to innovative practices and a stable, well-trained and highly productive workforce. IT consultancy and supply, and data processing account for the largest share of value added in the sector.

The most promising services are the development of mobile applications, the implementation of e-solutions for government and healthcare, IT outsourcing

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for hosting and data processing, and game development. There is strong potential to keep on growing. We are confident about the economic recovery in Europe, based on a high potential to export IT services to the rest of the European Union and America, as well as Russia and CIS.

Europe’s key strengths in the IT sector are its:

Well-developed export markets Most competitive labor force in information technology services Strong in data processing and hosting services Top 5 low broadband tariff in the world Fast internet connection High penetration of broadband connection

5) Assessment of business-related legislation and the compliance principles in the company.

Corporate income tax

The object upon which the corporate income tax is imposed is the taxable income obtained by a tax payer during a taxation period. The tax base is corporate financial income adjusted according to the law. The adjustments are mainly implemented in order to ensure that the income is greater than expenses on which the tax is not levied (for example, expenses that are not directly related to economic activity) or in order to reduce the income by a specific amount in case if the law envisages tax relief.Corporate income tax payers are the following:

resident or domestic companies performing economic activity, organisations and institutions funded from the state budget or municipal budgets, which obtain income from economic activity; non-resident or foreign companies, business entities, natural and other persons; permanent representative offices of non-resident undertakings the income tax rate of which is 15 %.

Individual undertakings are payers of the personal income tax, and the tax rate is 26 %.WSC follows all the mandatory laws and legislations directions for the business and the efficient company working.

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As WSC is based in Estonia /Europe, there are some laws which are imposed by European Union like on other registered companies all over Europe.

These are the main areas of legislation:• Employment law: This is aimed at protecting the health, safety and rights of employees. The main employment law that WSC considers is Health and Safety at Work Act 1974, according to which Employers must provide safe premises and machinery. They must ensure that workers health is not affected by their work.• Consumer protection: This is aimed at making sure that WSC act fairly towards their clients – especially since clients are the base for growing up of a business• Competition law: Competition law aims to ensure that fair competition takes place in each industry. Governments believe that greater competition leads to lower prices, better quality goods and a wider variety of products.

WSC follows an information governance program to comply with applicable laws and other binding authorities, as well as the organization’s policies. WSC is subject to fewer regulations and need fewer record keeping policies to maintain compliance.WSC ensures that all of its clients always give the satisfied feedback and in order to achieve that they work with dedication and planning to give the output in the form of the positive feedback from clients and they consider customer recommendation to other clients as an award.

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