Branding of IT firms in B2B context

Abstract

Information Technology (IT) is defined as the application of the computers and telecommunications to store, transmit, retrieve the data. There are various streams in IT like computer hardware, software, internet, electronics, computer services, semiconductors. In the current economic environment, IT became almost essential to grow businesses. The major components of IT in India are IT services and business process outsourcing (BPO) and the remaining components are software products, Engineering and R&D services and Hardware. The combined revenues of IT industry as a whole in India is around USD 118 billion in FY2014 . The major portion of revenues comes from exports as India is the world’s largest sourcing destination. The core advantage of Indian IT over global IT organizations is the labour arbitrage, around 3-4 times cheaper than that in US and delivers better quality. This resulted positively giving more employment opportunities to Indians and Indian IT industry has a share of 8.1% in National GDP of India. The unemployment problem in India is reduced to a great extent due to IT sector. From the above mentioned facts, we can say that the Information Technology industry in India contributed significantly to Indian economy and its growth over the years. IT sector in India improved access to services and their delivery and revolutionized the education system. IT helped many organizations within India to grow faster efficiently and one of the reason for success of many Indian organizations. IT also enhanced infrastructure in India along with employment generation. IT majorly deals with business or enterprise context where in a group of people with different roles like initiator, buyer, user, decider, influencer, gatekeeper participate in purchasing process. Unlike in consumers markets, the purchase decision making in business markets will be a lot group-oriented and rational. Most of the promotion in IT or Business markets happens through the interaction of employees directly with the customers.