Situation analysis
Business situation analysis aims to better understand the business scope and current state of the state-owned Scorpions Enterprise through product analysis, market, and competition. Primary and secondary research, including information from the company and an audit of documents and data from other sources, is used to conduct audits. The client’s firm has built greater trust with the customers in less time through the quality of their services and products. It has enabled them, for example, to create their brands, rather than just branding from major local suppliers and regional partners. Scorpions Enterprise has also acquired brand rights, lighting lines, and cable levels from a Finnish partner who is still one of the region’s biggest cable route providers. This trial company offers special products to the Finish market. The State Corporation provides four general electronics companies in Finland and is a general member of the Finnish Electrical Trade. Most of the equipment is handled by warehouses run by large Finnish logistics companies, and some of the products produced in their production facilities and warehouses have been discontinued. If the company runs out of stock at the time of order, the goods can be delivered directly from the retailer’s center. Distributor products, long-term branding in the industry, quality guaranteed by customers across the region, and existing distribution channels open the way to launch new products as they are available to all existing customers. As a growing company, the desire to be the biggest in the industry has prompted the company to look for new ways to sell its products, starting with the upcoming office plastic cable system. New technologically advanced products can be used as a good reference for whether this new marketing strategy is working or not, as a company already working.
The Scorpion Enterprise company’s main market for wires and cables within the country, accounting for 46 percent of the worldwide market in 2020, is other neighboring regions. The wires and cables market will develop at a CAGR of 14.4 percent and 9.4 percent respectively in the future, with the far East areas being the fastest growing regions. The predicted economic growth and increased need for power and telecommunications facilities in these regions can be ascribed to the rapid rise of the wires and cables sector. The Middle East and domestic markets will accompany these, predicted to rise at CAGRs of 8.3 and 4.5 percent, respectively.
The wires and cables market is relatively consolidated. A small number of large companies control a large portion of the market, and a huge number of small companies control tiny portions. These tiny businesses are mostly local manufacturers inside a region; however, some operate outside their home regions. Pert Electric Industries Ltd, Bistechi, Chorning Inc, Prytyean Group, and Sekeweto Electric Industries Ltd are among the market’s major players.
Explain how the economy affects profits and business factors. Factors such as the country’s economic growth, interest rates, currency exchange rates, inflation, and potential revenues for consumers and businesses will affect the profitability of any sector. Control of government interest rates, tax policies, and spending measures are examples of approaches that affect demand management at the overall economic level. Although the growth of Finnish GDP is weaker in the region, it has been so for three years. Historically, the increase is expected to be greater than most other countries after declining more than most other countries. Lower oil prices, weak euros, and the rise of the Central Bank to support long-term interest rates and trade investment in the region should have been indicators of stability in the area. Still, confidence in the economy remains below average. The Finnish economy shows that neighboring countries’ problems and exports to neighboring countries can be halved. On the other hand, lower oil prices and increased export potential in some areas could offset the deficit caused by the lack of exports at the eastern border.
One of the worldwide products is cable. China ($271 million), India ($190 million), Bahrain ($44.6 million), Turkey ($40.9 million), and South Korea ($39.7 million) are the main exporters of cables. Twenty million families in these and other countries rely on selling cables as their primary source of income. Because the global price of cable fluctuates, the corporation is exposed to significant risk. For instance, in 2015, the global price of cable was at 50 cents per pound; by 2016, it had risen to $2 per pound (Saleh et al., 2015). By 2017, it had dropped to $1.00 per pound, a 50% decrease. It slid back up to $2 per pound in 2018. By 2019, it had dropped to 46 cents a pound, and by early 2020, it had risen to around $2.31 per pound. The price had dropped to around $1.31 per pound by the end of 2021.
The cause of these price jumps is a composite of inelastic demand and supply adjustments. The elasticity of cable demand is just about 0.4, which means that a 12% increase in cable prices results in a 4% decrease in the quantity of cable needed. When a significant frost hit the Scorpion Enterprise in 2020, cable supply shifted to the left because of an inelastic demand curve, resulting in much higher pricing. The supply curve stretched out to the right when one of the competitors (Syre Connects Cables) came into the world cable market as a key supplier in the late 2020s. Cable costs dropped drastically due to its highly inelastic demand curve.
STP Segmentation, Targeting, and Positioning,
Investigate how common audience attitudes affect marketers, how the company understands the customers, and what motivates them. Cultural characteristics such as professional attitudes are very interesting variations from a marketing perspective. Technology Matters Technology issues affect three different ways in which a company’s marketing is managed; New ways to produce goods and services, new ways to distribute goods and services, and new media to communicate with targeted markets. Technological advances allow more performance to accommodate less space. The new document replaces the old documents for the same purpose, and the creativity of the volume is structural. Improvement of components allows them to compete more on quality than on raw materials or size. The design and structure can give the product a feeling and appearance that previously could only be obtained from the most expensive raw materials. However, the location and condition of the existing service may require the use of certain materials or technologies. Environmental factors have gained popularity since the beginning of this century, pushing forward ethical and sustainable chains of supply and distribution (Haudi & Cahyono, 2020). Aside from growing consumer demand for new products produced ethically and promoting sustainability in tackling global raw materials shortages, carbon targets and government-imposed pollution are important for companies and retailers to consider.
Marketing strategy
Regular efforts must be made to improve customer service activities. The time to address matters should be as short as possible, especially if problems should be reported to the other party before it is discovered in any other way. Verifying phone conversations by talking in black and white at all times, as with email, is a great way to record and edit actions. Most people who run several systems simultaneously need good organization and adherence to basics from a Finnish partner who is still one of the most prominent cable route vendors in rules. Keeping things simple can help limit the frequency of human mistakes and make them safe to repair. The better the system, the fewer faults, and the overall cost reduced. e geographical area
Good governance, trade regulations, tax policy, labor legislation, trade restrictions, and other tools are among them. Must respond to current and ostensibly regulatory changes, like the political climate in which marketing plans must be altered, impacting the organization’s ability to function.
Marketing objectives
The new Case Cable system has a new “honey” structure that improves overall flexibility. For example, an object should be seen as a competitive advantage over objects hitting and hitting. Focused structure, state-of-the-art goals, desks, etc., are used for external calculations. PVC is cheap, fireproof, and widely known as a raw material in any industry, so any electrician should know—the importance of launching this new product. Many of the tools needed to complete the installation are standard products offered by the experimental company, reducing customer ratings by trying a new system. Common and easy-to-install system components are integrated into this new system due to the low cost of production. It is manufactured in the Central Region, and low-grade materials cannot be used in all positions. The starting price is expected to be lower than the current Shell brand of aluminum cable systems. Competitive prices for plastic manufacturing systems should be monitored and read. Compared to competitors, having a better brand image, the product price of a state-owned company is slightly higher. Better design of new products and compatibility with other standard system devices can facilitate the installation and learning of new system equipment, which is quickly easier. When delivering an imported product, penetration into the market must be calculated according to the prescribed order. In this case, lower prices are set at a rate that quickly attracts many buyers within the allotted time to gain market share. Once a new product finds its place in the market, the price can be gradually reduced to the required molding level. After launching products at market penetration prices that match all major customers, prices can be negotiated individually as part of a pricing strategy, with some discounts for the first few major orders (Maltio & Wardi, 2019). Immediately after, regardless of product renewal, price agreement may result in immediate import in large quantities.
It is important to distribute any amount of product within two more weeks. Availability of stock products that contractors value and can order quickly and, if possible, before all products are delivered on time, is often the deciding factor between the two competitors at the end of the day. The main distribution channels need to be encouraged to increase productivity, receive large or additional orders regularly, and maintain safe access points like the Scorpion Enterprise. As seen, lobbyists and decision-makers often look for product information online, so it is important to have all the necessary information to decide on a product that another retailer can easily access. Suppose professional and social networking is an integral part of any business process. In that case, a unique online presence will undoubtedly add visibility, more interesting content, the opportunity to visit pages, and, most importantly, a more comprehensive search engine (Ghahnavieh, 2018). Important results, even on incomplete sites. Finding a skilled company or its products and competitors can hurt your SEO.
Extended Marketing Mix
Advertising on traditional media channels is often lost because the information is often sent directly to consumers and companies operating in the commercial industry. However, it is possible to find people in the right market in the required market by placing product ads in commercial publications. It was also important to include this product’s famous brand logo and inform them that it is common to associate this new brand with the same provider. Magazines with articles and information about the company and its new products can be distributed with several industry publications. Product catalogs can generally be sent to small business contractors at store kiosks. Ads that promote early purchase are rented by price attractions based on mixed market prices. Maintaining a corporate image as a form of public relations is the first step in maintaining a corporate website, regularly adding content such as news and other publications, adding as many details as possible, and ignoring outdated data. Social networking channels are an excellent way to maintain it, among other benefits. The benefits of the Facebook company are more business for consumers. However, still more people have a Facebook account than LinkedIn accounts, and it can be used as a tool to display products eventually. Customer feedback is a sign that consumers want their next business to have a corporate brand (Chou & Lin, 2020). Using Facebook to evaluate products allows the company to ask specific questions or comments after purchasing a new product in their name and generally create word-of-mouth transactions.
Private marketing is perhaps the most influential and demonstrates the most commitment to sales efforts on behalf of the distributor. Setting up with major clients to showcase and discuss products and product fairs at industrial trade fairs will give customers valuable experience when presenting a product and company case. Product launch presentations can also be arranged to partner wholesalers who invite their most important customers to see new product exhibitions held by company representatives to anticipate interest and increase sales early to benefit from group order discounts. Direct sales should target electrical engineers for construction companies and subcontractors. The company works in the office and does not have to develop new products because of the safety and efficiency of using a brand known as a business model. The company can easily receive physical catalogs, brochures, PDF versions of new products, and related technical information considered in graphic design. This way, the Scorpion Enterprise will have more quality options and offer prices for customers based on their goals.
Employees should always remember that their actions represent the state company. When hiring new employees, it is very important to have the motivation and desire to improve their efforts. The existing staff must continue to be motivated to reflect all enthusiasm in customer service. Service quality is an aspect of business marketing. Employees must share information that they think may be important to customers and products, so that customer service can be seen to know many aspects of business operations. Some customers value quality service at a reasonable price and ensure that they fully benefit from after-sales service. Asking new customers how a product or service works can ultimately add value to a new company version. According to Findley, effective communication is the key to a successful partnership. The main thing is the quality of communication, information exchange, and exchange. The important information you share with partners allows them to be more self-reliant, increase their satisfaction and become key players in partner success. Partnerships are expected through joint planning, goal setting, and participation.
References
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Haudi, H., Wijoyo, H., & Cahyono, Y. (2020). Effect of Product Innovation and Marketing Strategy on Consumer Purchase Decisions in Indonesia’s Lightweight Roof Steel Industry. Journal of Critical Reviews, 7(13). Ibrahim, E. B., & Harrison, T. (2020). Internal, external, and competitor factors impact marketing strategy performance. Journal of Strategic Marketing, 28(7), 639-658.
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