R&D: development of BIGDATA technologies, the Internet of things and diagnostic services in support of the “defensive growth” strategy: development and incubation of digital projects.

4.4 SWOT Analysis

SWOT analysis is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning.

The strengths.A vital advantage of the EGO Translating group of companies is in the provision of a full range of linguistic support for projects of any level of complexity and industry.

The implementation of this approach is possible due to the unconditional orientation to the needs of customers; use of modern translation and project management technologies; high professionalism of the team of translators, editors, proofreaders, teachers and trainers, project managers; accumulated expertise - the presence of over 350 specialized glossaries in various languages and topics; an established system of continuous quality control and a high level of service.

Among the technological solutions used in the implementation of projects: an integrated project management system; CAT tools - automated translation and terminology management systems; online learning system; cloud simultaneous translation platform

 Company staff and freelance specialists - project executors - go through a multi-stage selection process, qualification tests and systematically train based on the company, increasing professional competencies in the areas of translation of highly specialized texts, working with dictionaries, working in translation software (CAT tools), post-editing of machine translation, work in various graphic editors, etc.

Moreover, among the software developments of the group of companies: EGO frequency dictionary - a system for ensuring the accuracy and uniformity of translation of terminology in the text; ET QA Term - a patented program that performs work to verify and restore the unity of terminology in the translation text using an internal software product; QA system - a quality control program that checks the translated text for errors.

The quality management system of the linguistic provider is certified to meet the requirements of international standards ISO 9001: 2015 and ISO17100: 2015. The number of clients and partners of the group of companies in various industries, as well as in the general government sector, totals more than 12,000.

The volume of procurement of materials consists of an increase in stocks of materials, an increase in inventories, finished goods and the need for materials for the volume of sales of products, determined taking into account the standard cost of materials (NM).

The working capital analysis shows that there is the financial stability of the enterprise, the safety of stocks and costs sources of their formation. It means that the company is financially stable if liabilities finance the reserves and costs, the amount of which excludes the risk of the company shutting down or is forced to sell part of its materials, raw materials, finished products at abnormally low prices due to circumstances.

The weaknesses.The company has its working capital, allowing to cover current liabilities. However, all indicators in the planning period are reduced compared to the reporting period.

Analysis of the financial condition of the enterprise according to the source and planned balance allows us to draw the following conclusions:

1. In the medium and long term, the reporting and planned balance sheets of the enterprise are liquid, and the enterprise is solvent. However, in the short term, the reporting and planned balance sheets of the enterprise are not entirely liquid.

2. Besides, in the planning period, there is a significant drop in the absolute liquidity ratio due to a reduction in the free cash balance at the end of the planning period. This fact increases the financial risks of the enterprise in the planning period.

3. The planned period provides for the growth of business activity of the enterprise both in absolute terms (revenue from sales, profit from sales, net profit) and relative indicators (turnover of elements of assets and liabilities of the enterprise).

The next weakness is a rather tricky task, such as the automation of accounting. As a rule, the principles of accounting at enterprises are different and are based on the specifics of the activities of a particular enterprise. When using a full-fledged system of financial planning at the enterprise, it is necessary to ensure the passage of information through all accounting systems in order to ensure receipt of operational data on the implementation of previously adopted financial plans.

In this case, it is necessary to ensure a sufficient level of detail of information. The problem is that most of the software development is designed to solve individual problems of financial planning. It may complicate the implementation of financial planning in the enterprise.

The next one is the low efficiency based on:

1. lack of a transparent system for preparing and transmitting planned information from department to department;

2. lack and inaccuracy of information, etc.

The opportunities. The main opportunities of the company are entering new markets, in particular, ferrous and non-ferrous metallurgy markets. In 2018, Russia took sixth place among countries - producers of steel in terms of production volumes, dropping one position, losing to South Korea. The annual steel production in Russia amounted to 71.7 million tons, showing a slight annual growth (+0.2 million).

In January-August, Russian companies produced 48.3 million tons of steel, which is 0.4% less than the same period last year.

According to the Ministry of Economic Development of the Russian Federation, GDP growth in August 2019 amounted to 1.6% (in July -1.8%). In general, in January-August, the GDP indicator is estimated to have increased by 1.1%. In August, industrial production made a positive contribution to economic growth, the growth rate of which increased slightly to 2.9% (from 2.8% in July).

The threats. Last part of SWOT analysis is threats.

1. Unstable currency;

2. The Unstable situation in the pandemic conditions. On March 20, a government commission to increase the sustainability of the Russian economy reviewed and approved a new list of system-forming organizations whose financial condition in the face of a collapse in oil prices and coronavirus pandemics will monitor and, if necessary, consider providing support;

3. World economic crisis;

4. Intense competition in specific industries

Thus, in this chapter, the characteristics of the activity of “EGO Translating Company” were presented, as well as a strategic analysis of the company and the external environment. The macroenvironmental analysis includes market analysis, evaluation of external factors by the PEST analysis method and analysis of the competitive environment by M. Porter's Five Forces method. To assess the internal environment of the company, an analysis of financial and economic activities was carried out, an assessment of financial stability by specific relative indicators and SWOT analysis. Besides, after strategic analysis, it is necessary to carry out the STP process for the subsequent formation of a marketing strategy.



5. The development of a marketing strategy

In the context of fierce competition, companies are willing to apply a large variety of approaches to promote their products or brand. Most of the costs are aimed not only at maintaining the loyalty of existing customers but also at attracting new customers. Based on the motives and needs of various segments, a company can develop an effective marketing strategy.

The purpose of the formation of the marketing strategy for “EGO Translating Company” is to determine the marketing tools that should be used in the company entering the new market industry. EGO Translating Company is going to suggest linguistic services for the companies in the iron and steel industry on the Russian Federation.

5.1 Segmentation, targeting, positioning

The STP process is vital in developing a marketing strategy. Therefore, it is necessary to segment the potential clients and develop marketing solutions for them. To successfully implement the STP strategy, it is necessary to understand the structure of the target market and the expectations of various interested groups.

Segmentation, the characteristics of each segment, the choice of marketing programs aimed at a particular group are significant as this determines the further distribution of resources, positioning and tools of the marketing complex.

As it may be seen from the table, which shows the structure of the market of ferrous metallurgy, that the most of the potential clients are production companies, which operates in Russia, manufacturers who prepare their products for export and their partners - foreign companies which import the products in Russia.



Figure 6. The structure of the market

Before selecting indicators for segmentation of new customers of “EGO Translating Company”, it is necessary to consider each parameter separately to determine whether it is indicative or not.

The first parameter that was analyzed is the number of total production, revenue.

Table 7 Revenue and profitability of the companies*

	Revenue, million US dollars	Profitability (%)
	first half of 2018	first half of 2017	first half of 2018	first half of 2017	first half of 2018	first half of 2017
EVRAZ	6343	5106	1906	1152	30	23
NMLK	5906	4700	1727	1221	29	26
Severstal	4432	3698	1580	1207	36	33
MMK	4161	3586	1210	907	29	25
Metalloinvest	3779	3032	1491	1061	39	35
Mechel	2639	2574	696	694	26	27

*Source:https://translationrating.ru/results2016/



The potential clients of “EGO Translating Company” such as EVRAZ, NLMK, PAO Severstal, MMK, Metalloinvest and Mechel in the first half of 2018 produced a total of 32.5 million tons of steel. It represents 91% of steel production in Russia in the first half of 2018. In the first half of 2018, the profitability of leading Russian metallurgical companies ranged from 26% to 36%, increase compared to the same period last year from 3 to 7 percentage points for all companies except Mechel, which experienced a decline EBITDA margin by one p.p. ()

The next parameter that was analyzed is the geographical position.

Figure 7. The geographical position of the companies (https://www2.deloitte.com/ru/ru/pages/research-center/articles/overview-of-steel-and-iron-market.html)

The majority of potential clients are located in different regions of Russia, such as the West District, the North-West Federal District (34.8%) and the Volga Federal District (16.0%). 

It is because of the iron ore locations and the logistics costs. It is more profitable for customers located in these regions to buy products from regional trading enterprises.

The next characteristics for analysis are the contracts with foreign partners.

The share of foreign suppliers in the Russian market of equipment for the metallurgical industry is about 50%. However, as a rule, they occupy the most profitable niches in it and act as general contractors for large projects.

For instance, EVRAZ NTMK is expanding the geography of deliveries of wheels in Europe. Moreover, EVRAZ NTMK has started to supply railway wheels to Slovakia. In 2020, the plant will send a wagon of the company Zos Trnava, about 1 thousand to freight car wheels. This is a new client of EVRAZ, one of the top 5 largest car-repair enterprises in Europe along with the OBB TS Knittelfield Werk (Austria), Kolowag (Bulgaria), FWN (Germany) and SZ-Vit (Slovenia), with which EVRAZ has established contracts informed. “The supply of car - repair companies are an important area of sales of our wheels since historically, more than 70% of demand falls on this segment of the market, - said Vice-President of Evraz's sales and logistics Ilya Shirokobrod. - Also, the expansion of supply in Europe allows strengthening the position of Evraz”.

Besides, another potential client as “Severstal” has put the Russian builders more than 2.7 million tons of steel products. PAO Severstal, one of the world's leading vertically integrated steel and mining companies, according to the results of 2018 has shipped Russian builders 2,717 million tons of steel products, up by 7% compared to the same period last year. Metal products of “Severstal” are used in the construction of significant infrastructure facilities on the territory of the country. In particular, the company puts about 40 thousand tons of various types of metal for the construction of all 12 stadiums that hosted this year's World Cup in football.

NLMK Group opens a service centre in South Africa. NLMK South Africa will be open for delivery to consumers durable (NLMK Quard) and high-strength sheets (NLMK Quend), which are produced at the Belgian NLMK Clabecq. Main customers service centre will be mining, engineering, construction and other enterprises not only South Africa but also Namibia, Botswana, Zimbabwe, Mozambique, Angola, Zambia and other countries.

All these factors are essential to consider as these companies need translations of technical texts, articles; technical literature; technical terms; technical specifications; instructions for the devices; equipment instructions; drawings, diagrams, CAD; norms, standards; SNIPs, GOSTs, projects; test reports, etc.

Next, it was considered the presence of projects for export.

All the potential clients are oriented to both Russian and international markets. Among export markets, the most critical regions are Europe, the CIS countries and the Middle East. 

The share of Asian markets in sales is only ~ 1%.

 For instance, the company Severstal - an extensive portfolio of the own assets and partnerships for the further processing of flat products are Izhora Pipe Plant (100% owned by Severstal), producing large diameter pipes for the oil and gas industries from Stana-5000 plate. A joint venture with Mitsui, Severstal-SMC Vsevolzhsk, processes cold-rolled and galvanized steel for use in the automotive industry. Joint ventures with Gestamp Gestamp-Severstal Kaluga and Gestamp-Severstal Vsevolzhsk, stamping blanks for the automotive industry.

Another example, NLMK company - the strategy for placing rolling production close to the final consumer: The Lipetsk site produces rolled products for domestic demand and procurement (slabs), which are exported to NLMK's foreign rolling assets. Extensive regional presence in foreign markets: Turkey, Latin America, European Union, North America, Middle East, CIS countries. The company adheres to the “balanced portfolio” strategy - “from typical types of hot-rolled products to unique grades of electrical steel”. At the same time, NLMK is a leader in the production of electrical steel products on the Russian market (74% of the dynamically and ~ 100% of transformer steel market)

Moreover, EVRAZ ZSMK signed an agreement on the construction of new oxygen production. The company signed an agreement with Air Liquide on the construction of a new oxygen production facility at the plant to supply air separation products for technological needs. Within three years, two air separation units with a capacity of 90 thousand cubic meters will be built on the territory of EVRAZ ZSMK. They will serve the production of construction and rail products of the plant. The operating oxygen production of EVRAZ ZSMK includes two workshops. Oxygen and other air separation products are supplied for the blast furnace and steelmaking of the plant.

MMK - Magnitogorsk Metallurgical combine - ERG Sales AG, with which MMK has a long history of cooperation in the supply of iron ore with Sokolovsko-Sarbaisky mining and industrial association.

MECHEL - An agreement was signed with the French company ALSTON on the supply of electrostatic precipitators for the equipment of the new sinter plant, the operation of which will drastically reduce emissions of harmful substances into the atmosphere. The primary railway operator in Germany is Deutsche Bahn AG.

It is necessary to consider this factor as EGO Translating Company may suggest linguistic services for these companies, which are going to create the projects for export to different countries.

According to the structure of the market, it is necessary to take into account the next potential clients- manufacturers, which also need linguistic services.

Figure 8. The manufacturers

Moreover, nowadays, it is significant to consider another factor - whether the company works or not due to COVID-19.

On March 20, a government commission to increase the sustainability of the Russian economy reviewed and approved a new list of systemically essential organizations whose financial condition in the face of a collapse in oil prices and coronavirus pandemics will monitor and, if necessary, consider providing support.

 In the final list, there are 43 positions of the metallurgical industry. Interfax publishes the full version of the list, broken down by industry and departmental affiliation (in this version the list was sent to the supervising ministries last week, its authenticity was confirmed to the agency by a source in the financial and economic block of the government). All the potential clients of EGO Translating Company are included in the list.

Thus, based on the parameters analyzed, the following portrait of the potential client of the company under study can be compiled: high-sized enterprises in the wholesale trade in ferrous metallurgy, as well as factories operating in the North-West, West and Volga Federal Districts, which have foreign partners and need linguistic services.

After the segmentation of potential clients, it is necessary to select the target segment or several segments and forecast which of them will bring the maximum revenue to the company. 

Previously customers were analyzed based on geographical location, industry and size of the company, the presence of foreign partners and international projects. 

The most attractive segment is large companies, which have contracts with foreign partners and take participation in international projects. This group may bring a more significant share of the sales, and their demand is more stable than other segments. Thus, the company should create customer relationships and increase loyalty by providing discounts or special offers. 

The segment - manufacturers, have relatively similar characteristics; they will often make the purchase, but not by a considerable amount. Consequently, these groups can be given a discount or deferred payment only when the companies purchase a certain number of linguistic support. 

However, the group may bring a more significant share of the turnover. Therefore it is necessary to spend resources on customer relationships within that group. It is possible to define the following terms: prepayment in full, or payment on delivery and pickup. Therefore, EGO Translating Company will spend a small part of the resources for customer service from this group that is at low sales overheads will be reduced. 

This results in the target segments of the company are the B2B segment, located in Russian regions (Northwest and West mostly). In order to determine market positioning, it is necessary to determine the criteria and evaluate the position of the company in the market of linguistic services in ferrous metallurgy industry. For B2B market participants, such characteristics as product quality, delivery price, and reliability are essential.

The main competitors on the market of linguistic services in the industry of ferrous metallurgy:

· Janus - Janus provides translation services to a wide variety of manufacturing and industrial enterprises.

· Prima Vista is a Moscow translation agency, one of the TOP-20 largest translation companies in the Russian Federation.

· ProfLingva - services for business and individuals; government contracts and exclusive translation support.

· TransLink is one of the five most extensive financially and by the number of employees of Russian translation companies

The position of EGO Translating is competitive as the company has already great experience of entering the markets of linguistic services in different Russian industries such as construction, energy, cargo engineering, agricultural machinery, railway construction, etc. The company has a vast number of marketing instruments to enter the industry of ferrous metallurgy. Therefore, entering this market will be as quick as possible. The company is well-know and have a reliable brand name. Therefore, the large companies such as Severstal and which are going to have the new contracts with foreign partners and participate in the new international projects and which need the linguistic support may be willing to work with EGO Translating. However, EGO Translating Company should consider the number of competitors. 

Table 8 STP summary

Key question	Stage	Result
Who is the consumer?	Segmentation	The potential consumer is another organization (large production companies, manufactures).
Which customers are most attractive?	Target Segment Selection	The most attractive segments: large production companies, which have foreign partners and participate in international projects.
How will the company position its product?	Positioning	The company positions its product as a high quality product at the best price.

Thus, within the framework of the STP analysis, segmentation of existing customers of EGO Translating Company was carried out and the position of the company in the potential market of linguistic services in the ferrous metallurgy industry. Next, it is necessary to develop a marketing mix and identify areas of activity for the formation of a marketing strategy.

5.2 Development of a marketing mix for entering a new market based on 4P model

After segmentation and positioning of the company are determined, the tools of the marketing mix should be defined: product strategy, pricing strategy, distribution and promotion strategy.

Product strategy.The main product is linguistic services, which EGO Translating Company may suggest.

Main directions of translation - Business processes and their linguistic support; Negotiations, the conclusion of contracts; Oral (consecutive/simultaneous) translation; Written translation of marketing documentation, business correspondence with foreign partners (companies); Preparation of projects for export; Written translation of feasibility studies, labour standards, environmental safety documentation; Purchase of foreign equipment/staff recruitment and others.

The linguistic needs of ferrous metallurgy companies are particular:

Written translation of legal and financial documentation, technical manuals for assembly and operation. Translation and legalization of personal documents; Written business correspondence with foreign partners; Translation of legal and financial documentation; Electronic document management, etc.

As most of the potential clients - large companies which have contracts and projects with foreign partners, they need linguistic support.

Pricing strategy.The product is going to be sold at the wholesale price, which is formed based on the costs and margins-from 2.4 rubles per word. Depending on the volume of the order, customers may get discounts. Mainly, it is necessary while working with the projects of such enormous potential clients as Severstal, EVRAZ, etc. 

Distribution strategy. The main geographical markets are the Northwest and West Districts. To purchase the company's products, a potential client can leave a request to the manager and then discuss all the terms of the contract. As part of the marketing strategy, it is also necessary to pay attention to electronic commerce. Thus, on the official website of the company, there is a unique opportunity to leave a request for services. Further, the goods will be delivered to the client using the services of logistics companies with which a contract is concluded.

Since the market is B2B, the technique of personal sales and customer consulting is presented below.

Most suitable are active sales. Active sales are direct communication with the client, during which the following occurs:

· collection of all necessary information about the client;

· direct contact;

· identification of needs;

· presentation, work with objections;

· conclusion of an agreement, purchase of goods.

Spin sale is based on four groups of questions that the seller asks the customer:

1. Situational issues (Situation) - aimed at collecting general information about the situation.

2. Problem questions (Problem) - identify difficulties.

3. Extracting questions (Implication) - questions about the consequences.

4. Guide questions (Need-payoff) - allow you to understand the value of the proposal for the client, that is, identify benefits and benefits.

Needs analysis: identifying customer pain points.

Inclusion of additional services: this is a source of benefit in the solution. For example, the solution itself can be equipped with a training course for staff who will use this solution.

Work after the purchase: for example, you can offer troubleshooting services and customization of the supplied solution. Even if such services add value to a product, they emphasize future benefits and thus add value to it.

Strategic goals

At the heart of the overall strategy is the component of development, learning and growth. This projection defines the basic elements of corporate culture, technology and skills, which are very important for the organization, for the optimal execution of the target state of internal processes, and hence the strategy. EGO Translating should pay particular attention to staff training:

· Foreign language training with an emphasis on industry vocabulary;

· Short-term skills training, preparation for negotiations and industry exhibitions;

· Trainings;

· Language audit of staff.

Strategic planning includes the mapping of the iron and steel industry, the largest players and their market shares, the project map - the needs for linguistic services. Recruitment and gradual filling of industry groups. Training of employees for further study of contacts (individual offers for each company);

The strategic goals include:

· increase in net cash flow;

· increase the profitability of products;

· minimizing the cost of production;

· achieving leadership in the iron and steel industry in terms of sales per employee;

· increase in return on equity.

In terms of market share, approximately more than 55%, as large companies that represent the main market.

In terms of sales, approximately 300 million

On profit, approximately 45-50 million.

The next level is the client component. It shows how the organization seeks to look in the eyes of customers, i.e., reflects the company's competitive offer. This component is crucial for the overall strategy of the organization, because it clearly determines the choice of market position and key customers on which it focuses.

Approximate goals (based on previous market entry in other industries):

· increase customer satisfaction by 25%;

· minimize the number of lost customers by 10%;

· increase the profitability of operations with customers by 8%;

· expand the customer base;

· be a recognized market leader in new products;

· achieve a certain market share in the target segment.

In determining the strategic goals of the client component, interviewing senior and middle managers on such a questionnaire can help:

· In what indicators of work with clients should we succeed in order to achieve the desired financial parameters?

· How can I increase market share?

· How to get new customers?

· Is it possible to satisfy the consumer?

· Profitability of operations with clients.

· Which of the following factors will play a significant role for the company's customers: properties of products / services: price, quality, lead-time or delivery; functionality; customer relations: services, proximity of relationships; image, brand?

· What is the best strategy to choose when working with clients: product leadership, improving customer relationships, effective execution?

· How will your products / services differ from competitors?

A component of internal business processes identifies the main operations to be improved and developed in order to strengthen competitive advantages. Its indicators characterize the processes that make the main contribution to achieving the intended financial results and customer satisfaction.

In order to determine the strategic goals of the company in the component of business processes, one can ask the following questions:

· In which internal processes should we succeed in order to satisfy our customers?

· Which of the following processes are most significant for the company: customer knowledge (improving the process of managing customer relationships; efficient operations and logistics; product leadership, speed of launching new products on the market, novelty of products?

Develop flexible multi-channel models that can be used to efficiently process each type of transaction.

For example, the company can invest in the development of online tools to provide fast service for simple b2b sales at lower costs. At the same time, free up time for customer service managers who will be engaged in sales of large amounts.

Remember that sales of large amounts affect the distribution of risks and the level of service. Customers are waiting for guarantees that the real value of the product is justified. Deal with sales staff and sales representatives.

Promotion strategy.Different communication channels - the official site, and contextual advertising in the search engines Yandex and Google, participation in conferences. 

Sales channels:

· own online store;

· online store partners;

· email newsletter;

· social networks;

· call center;

· company website, landing pages with products;

· business events;

· video conferencing, webinars;

· media advertising;

· content marketing.

Moreover, the company should use additional promotion tools entering the new industry.

· Tenders

· Exhibitions (Volgograd Industrial Automation Forum 2020;

· Vietnam-Expo-Siberia 2020; Metalworking 2020; Mine 2020;

· Mining 2020; Metalworking and welding 2020 and others)

In the process of undergraduate practice in this organization, an offer to participate in these exhibitions was considered and is going to be developed.

Despite the widespread use of high-tech communications, the exhibition still remains one of the effective ways to increase wholesale sales in the b2b sector.

Due to the exhibition the company is going to:

· demonstrate a product or service;

· answer questions and, most importantly, refute objections;

· build relationships with new business partners;

· show the latest achievements to those companies with which the organization has long been working.



6. Development of recommendations for the formation of a marketing strategy

Today, the ferrous metallurgy industry is the second after the areas of high technology, telecommunications, entertainment in terms of digitalization in Russia.

The most common of the considered technologies used by companies in the industry is the use of electronic document management (72%).

Most often, shortly, among the technologies planned for implementation, experts note the “smart” production and automation of the business process chain (72% and 62%, respectively).

The share of foreign suppliers is very high.

The positive side is that there are a lot of new contracts with foreign countries and the companies need linguistic support.

The negative side remains the imposition of sanctions, and thereby the slowdown in all production.

Therefore, it is worth entering the market of linguistic support in the ferrous metallurgy industry.

As additional recommendations on the formation of a marketing strategy, the following is prepared for the company:

· Analysis of the company's competitiveness in the market of linguistic services in Russia;

· Analysis of the need for linguistic services in the ferrous metallurgy market in Russia;

· Development and implementation of marketing tools.

Recommendation to participate in exhibitions of 2020 are being consumed by the company.



Conclusion

Graduation paper on the topic “Development of a marketing strategy for EGO Translating Company” has demonstrated the significance of a marketing strategy, different views on strategies and methods. This paper is not only about the ways of creating a marketing strategy but also about the marketing itself, its main definitions and methods.

The final qualifying work was based on the theoretical works of various authors, the concepts of which were described in work. The analysis made it possible to draw certain conclusions for each stage.

Firstly, in order to develop a marketing strategy, it was necessary to determine the state of the market in which the company operates. Analysis of the external environment was carried out using the method of assessing environmental factors and competitive analysis.

The results showed that the linguistic services market is developing and there are more and more competitors in the industry that have an impact on the activities of the studied company. Nevertheless, “EGO Translating” has such competitive advantages as colossal experience in various fields and industries, the ability to adapt individually to each client, reliability and systematicity in the service process, the use of high-tech solutions, partners around the world, etc.

Also, in the process of forming a marketing strategy, a study was conducted by interviewing, analyzing the performance indicators of the sales process and other secondary data. As a result, it was revealed that the company has an increase in sales indicators, which indicates the demand for goods. However, the financial position of the company remains volatile during COVID-19.

As part of the development of the strategy, an STP analysis was carried out, which included the stages of segmentation, targeting and positioning of the company.

In order to determine which promotion tools should be used to communicate with customers, segmentation of potential consumers was carried out. This analysis showed that the target segment is large companies that have partnership agreements with foreign suppliers. Accordingly, a marketing mix based on the 4P model was developed for this segment: product, price, sales and promotion.

At the moment, one of the proposed communication tools with consumers, namely the participation in exhibitions in the market of linguistic services of ferrous metallurgy industry, is considered by the head of the organization.

As additional recommendations for the implementation of the developed marketing strategy, the need to enter the linguistic services market in the iron and steel industry was confirmed, customers were segmented, the company's positioning and market position were determined, and marketing tools for entering the new market were proposed.

Since the implementation of the strategy requires considerable financial and time resources, in the future, if the proposed strategy tools are implemented in the company's processes, it is necessary to evaluate how they will affect the marketing plan of “EGO Translating”.



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