Market Development Strategy of a Technology-Based Firm: A Study on TechnoMagic

Abstract

TechnoMagic is a startup organization for providing the next generation digital technology solutions to Bangladesh. Investors behind TechnoMagic have been importing electronics technology from abroad for close to 10 years and have many business relations and contacts to genuine advanced technology manufacturer and suppliers in abroad. TechnoMagic is a sister concern of Olympia Holdings. TechnoMagic is one of the most popular IT company for its Innovative products and solutions. This is the first company who introduced different types of Multi-touch Kiosks in Bangladesh and they make a tremendous change in Bangladeshi Cartoon Content because TechnoMagic was the first ever to make a series called SIKHI ANA. There are many competitors but the main difference is that in favor of TechnoMagic in terms of product quality, service and customer feedback. Though they have very few employees in the key functional teams of the organization, their skills can easily outmatch those of the key competitors. Core functional teams include IT Team, and Technical Specialist and Business Development Team. The carefully selected and recruited employees since its inception adhere to customer-oriented & demand-oriented, up to date in the latest technology in the field, and have always been committed to the development of electronic equipment in the field of information service. We always put the technological innovation as the key to build the core competitiveness of enterprises. Such technological innovation is guided by the company’s understanding of key customer requirements.