Mediumistic Corporation Japan Marketing Plan Essay
A marketing plan of Mediumistic Corporation Japan is hereby proposed as follows for the Elevator Promotion to the Mammalian market. Mediumistic has a good presence in Asia and globally also. Mediumistic Corporation Japan plan is to get into Mammalian market to sell elevators as Maldives population is increasing and the construction industry is booming in the country. The marketing plan will consist of marketing strategy through up’s price, promotion, product and place.
The competitors in Maldives haven’t segmented the market, so Mediumistic elevators should take racketing action by segmenting market such as high segment, middle segment and low segment (to normal residence) in Maldives.
In brief, the objective of this Market Plan of Mediumistic Corporation Japan is to market Mediumistic Elevators in Maldives. This Market Plan can be used for 2015.
The limitations of this market plan were difficult to get up to date information and time limitation. Company Profile In 1954 the new Mediumistic was founded, and at the same year was listed on both the Tokyo and Osaka stock exchanges. The company began expanding its development and investment-based business on a global scale. In 1971, the company made “Mediumistic Corporation” its official English name (Mediumistic Corporation, 2012).
Mission of Mediumistic Corporation is, “to leverage our business to help solve problems in Japan around the world, and to embrace the spirit of our Three Corporate Principles by creating Sustainable Corporate Value” (Mediumistic Corporation, 2012). In addition, according to Mediumistic Corporation (2012), Mediumistic Corporation (MAC) is a global integrated business enterprise that develops and operates businesses across virtually every industry including financial, energy, metals, machinery, chemicals, food and environmental business.
Mac’s current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to invest in retail business, infrastructure, financial product and manufacturing of industrial goods. With more than 200 offices and subsidiaries in approximately 90 countries worldwide and a network of over 500 group companies, MAC employs a multinational workforce of nearly 60,000 people.
Situational Analysis Maldives construction industry is booming. According to Maldives Partnership Forum (2009), “the construction sector’s contribution to GAP growth has been Marketing Plan By Assists following the tsunami disaster, and the construction of new tourist resorts leased out from 2004 onwards”. Moreover, due to high population of Maldives than the land space result to demand for building more buildings such as government housing projects in haulage’.
- Strong presence in Asia
- Strong reputation (Global presence)
- Broad product portfolio
- Fluctuating cash flows
- Lack of advertising
- Construction industry in Maldives is booming, creating high demand in future
- Small land leads more torte buildings in Maldives
- There are other Competitors in Maldives market
- Lower economic condition in Maldives
- Elevators are only allowed in buildings where there are more than 5 storey
Survey of target market analysis PEST Analysts Political condition of Maldives is in a bad condition.
This is due to the development of the political party in Maldives. The people in the economy are frustrated and effecting their life negatively. As there is a negative and frustrating life, when Mediumistic enter into the Mammalian market the people may damage the elevators due high frustration. This damage can be a high cost to Mediumistic for repairing as these products are quality high products. Moreover, when we look into Maldives economy as far as Maldives is always depending on their import. But the Japanese people are more depending on exports.
So if Mammalian demand for elevators of Mediumistic the condition of exchange rate will be a problem, because due to the depreciation imports have become more expensive. Therefore, without a distributor in Maldives, it would not be easy to bring Mediumistic elevators to Maldives. In addition, due to lack of land in Maldives Mediumistic would not be able to open a large factory to sell elevators of Mediumistic. Furthermore, a social challenge Mediumistic has in Maldives is that if any construction building in Maldives has more than five storey building would only be able to put elevators.
If it is less than five the regulation says the building is not allowed to have an elevator. However, there is an opportunity for Mediumistic, because the population in Maldives is increasing day-by-day which is 394, 999 Lully 2011 est.. ) (Index Mind, 2011). Therefore, there is an increasing demand for elevators in Maldives. As the world is becoming so technologically advanced, Mammalian people trend now can be said as high-tech people. As from the Mammalian population, 15-64 years (74. 4 percent) are known as modern generated people (Index Mind, 2011).
Due to reputed brand name of Mediumistic, would result to have a high demand from Mammalian high- tech people. As the construction industry in Maldives is increasing, there are different elevators operating in Maldives. The elevator operators now in Maldives market are Otis, the agent is Monika Hotels in Maldives. In addition, Johnson and Kayo are current operating elevators in Maldives. The first elevator operator was Otis. Johnson elevator is an Indian product, which has a 20 percent market share in India.
The features in Johnson elevators are manual door which can carry maximum eight passengers up to eight floors, Automatic doors which can carry 26 passengers up to 30 floors having the latest options in this type of Johnson elevator Monsoons, n. D. ). Kayo elevator is a Chinese product which was awarded as the National High tech enterprise which has 6 patents and 13 application patents (Kayo, n. D. ). When we look into Otis, the quality of Otis is lower than Johnson, Kayo, and Mediumistic elevators. Target Product Mediumistic elevators have many features and unique selling point.
Mediumistic elevator has a unique selling point that is Mediumistic Emergency Landing Device. According to Mediumistic Electric (2012), when electricity goes off, the elevator starts automatically to work under battery back-up. In addition, Mediumistic elevators have Earthquake Emergency Return, Fire Emergency Return and Firefighters’ Emergency Operation (Mediumistic Electric, 2012). Furthermore, the way the machine room is designed, space can be saved. According to Mediumistic Electric (2012), “as all equipment is installed within the hoist ay, there are fewer restrictions on building design except for the actual space required for the shaft.
Architects and interior designers have more design freedom” when we have a Mediumistic elevator. Marketing Strategy Product Strategy * Packaging strategy can be done for the elevators, while bringing to Maldives. Packaging of elevators can be done by packing different parts of the elevator in different boxes, so the chance of getting damaged of these quality elevators will be Strategy * There are two different types of pricing strategies, which are price skimming and penetration pricing. Price skimming means charging higher price at the beginning, but in penetration pricing first price charged will be low.
As Mediumistic elevators have quality features like back up operation, energy saving operation and Mediumistic emergency landing device (Mediumistic Electric Corporation, 2005) are there. Due to this Mediumistic can do price skimming.
Mediumistic can do their placing through an agent in Maldives Exclusively. The benefits of having an exclusive agent are that constant market review can be done by one team and there will be excellent feedback (Harcourt Cooper; Co Wake Island MARINE, 2012).
Mediumistic can conduct promotional activity of elevators through television advertisement.
This is because through television advertising, the advertisement can be reached a mass audience. In addition, they can go for billboard advertising, which is also an effective way to promote Mediumistic elevators.
Moreover, providing after sales service, discounts and coupons can be an effective way to get attract from consumers in Maldives market.
When promoting Mediumistic elevators, Mediumistic can segment the market to high segment, middle segment and low segment (to Normal residence). Due to this it would become easy to target Mediumistic elevators in the market.
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Mediumistic is one of the leading products in Asia. Due to good reputation and well maintains of quality, the demand in Mammalian market will be high. As we have mentioned above, Mammalians trend is to be high tech in any product they want. Furthermore, due to the booming construction industry in Maldives, there is an advantage for Mediumistic to enter to Mammalian market to distribute elevators. In conclude, even though there are competitors in Maldives the uniqueness features in Mediumistic elevator will be a good opportunity to enter Mammalian market.