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Growing market

The development of the 2cx backhoe loader by JCB had a major impact on the market, it beat any other backhoe loader available in the market. According to www.contractjournal.com before the launch of the 2cx the market for backhoe loaders in Europe stood at 300 units per year. However, just two years after the launch of the of the 2cx JCB claimed that it had sold 1,500 units, this shows that JCB has converted a niche market into a growing market.

The JCB Dieselmax is JCB’s biggest innovative project. The unique vehicle broke the land-speed record for a diesel powered car. The car is innovative in many areas, the first being design. It was the first car designed entirely by computer, showing JCB’s unique capabilities in design. The car also has unique aerodynamics, proving JCB’s dedication to design and innovation. The vehicle also has innovative steering, brakes and structure. Appendix 3 shows a series of quotes from the Dieselmax project director. The innovative engineering and hard work from JCB that Dr Time Leveton talks about, are what have earnt JCB global recognition and have boosted the company’s reputation in the market.

Appendix 4 shows the Deiselmax vehicle itself. The company has recently

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launched a “HiViz loadall range” boasting exceptional allround visibility (shown in appendix 5) and now offers a range of powertools. The company’s range of products now extends to 21 different types of machines(shown in appendix 6) each with many variants. Also, the company has recently launched a mobile phone which boasts splash, shock, dust, glare and high volume resistance, this can be seen in appendix 7. JCB shows off its inovation and creativity by putting on “dancing diggers” displays at various events, a picture of this can be seen in appendix 8. The displays show off the power, versatility and accuracy of the machines. The company is constantly striving to design and produce new products and is often acheiving feats of engineering, it is this that has allowed the company to strive in the market and to hold it’s large market share.

The JCB academy

An article containing information about JCB’s plans for a “JCB academy” can be seen in appendix 9. JCB are planning to refurbish an old building close to their world headquarters which will take on pupils aged between 14 and 19 and teach them academic and vocational skills which will enable young people to gain qualifications in engineering, manufacturing and international business. The school will have energy created from a water turbine, recycled waste timber to provide heat, rainwater to flush toilets and solar panels. The company is hoping for this to be the first fully sustainable school, this again shows off the firms innovative skills.

Sir Anthony Bamford said this about JCB’s training programme “JCB is a rapidly expanding global company. We require the very best people to join our team and ensure that we continue to be one of the most advanced companies in our field. I strongly believe that our undergraduate programme is one of the best and by investing in your development we will continue to have the right people to share the future success of JCB”.

The fact that JCB is willing to train students in the essential skills needed to work for the company shows their impact on the market. It shows that they are the successful within the market as it suggests that they have the money to spend on this type of investment. It is also a way for JCB to reinforce their impact on the market and stregthen their position within the market as none of JCB’s competitors have invested in this type of training. It will also allow JCB to lead the way in the market in the future because the type of training the provide will influence the future directions which the market will move in.

JCB in various market segments

JCB’s range of machines designed specifically for the agriculture market prove their commitment to constant innovation. They have made a range of machines that are suited ideally for work in agriculture and have “farming friendly” details such as fold-in rear lights and enclosed propshafts. JCB claims that thier Fastrac model is the “most productive tractor available” , showing that they are a strong competitor in the gariculture market. In a recent comparison between JCB’s 536-70 agri xtra, Manitou’s MLT 741-120 LSU and Merlo’s P41.7, published in Farmer’s Weekly magazine on 9th november 2007, the JCB model came out on top.

The article says that ” a few years ago Manitou’s MLT-series showed the way”, for JCB to have come out better than Manitou’s model shows that JCB has progressed in the agriculture market over the years. It also shows that JCB is now producing better machines than the previous leader in this area of the market. Appendix 10 shows the specs and scores of the three machines in the farmer’s weekly comparison which shows JCB to be the best of the three.

The results of the comparison shows JCB’s impact on the agriculture market. JCB has “unrivalled experience in the construction market” and it’s innovation and dedication in this segment of the market has changed the construction equipment market forever. The JCB backhoe loader range leads the world market in performance innovation and reliability. JCB also competes in the demolition market. The machines they offer in this market have the largest range of attachments in the industry, giving the company competitive advantage over it’s rivals in this market segment. JCB produces specifically and purpose designed machines that suit the demands of a range of market segments, the fact that JCB is able to compete successfully in so many different markets shows its impact.

The Future For JCB

I believe that JCB will contiue to grow and will probably become the world’s 2nd leader in the market (compared to it’s current 3rd)in the near future. I think the company will continue to be innovative and will bring out many new ranges of products that target the company’s existing market segments and develop products that suit new market segments. These new products will hopefully allow the company to impact on new market sectors and therefore increase JCB’s market share. If the company does this, their impact on the market will grow. The company is likely to expand into more countries increasing their global reputation and their market share. The company should grow with and adapt to the varying market in order to keep their position as one of the top competitors in the market. I think the company will have a successful future.

Conclusion

From my investigation it is clear that JCB has had a major impact on the construction, agriculture and material handling equipment market. The company has a global reputation for quality, commitment to innovation and unrivalled customer support. It is these competitive advantages that have allowed JCB to grow. JCB’s exponential growth is the main indicator of their impact on the market. JCB has had a broad impact as it has impacted on many different market segments. JCB competes in the market in many different countries showing that they have had a global impact on the market. The fact that the company is currently the 3rd world leader in the market shows that they have penetrated the market and are competing in the market successfully. I believe that the company will continue to be successfull.

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