Polycorp Analysis & Discussion Post

.docx

School

Wilfrid Laurier University *

*We aren’t endorsed by this school

Course

362

Subject

Marketing

Date

Apr 3, 2024

Type

docx

Pages

4

Uploaded by mzach2002

Report
Problem/Opportunity : Clear description of the problem or opportunity Consider: Main issues, symptoms, action trigger, relative importance, urgency Stakeholder needs, objectives Decision criteria identified (to evaluate alternatives; for expected results) Analysis Do NOT repeat case facts; develop implications; use marketing theory Internal (strengths/weaknesses): Resources, skills – implications? Current marketing strategy (target market and positioning) – implications? Current marketing mix (4P’s) – implications? Current financial position, revenue, costs, profits, break-even – implications? External (opportunities/threats): Environmental trends (political, economic, social, technological, etc.) Market trends Consumer Analysis (industry/category): Market segmentation, factors influencing buying decisions, involvement & buying behaviour current target segment(s) new/potential target markets competitive segments Competitive Analysis: Who are they? strengths, weaknesses, competitive advantage Other : What is special about this case? e.g. Service, B2B, International marketing, Ethical issues – implications? Decision Criteria & Alternatives (stated and emerging from analysis) Decision Criteria Applied : Objectives, assumptions, constraints, management preferences Alternatives/Solutions (Proposed in the case and/or your own); Evaluate ‘partial options’ (pros/cons), to determine feasibility Bundle into complete alternative solutions (STP+4Ps) Quantitative and qualitative analysis for each complete alternative; consistently using correct decision criteria. Rationale, specific, feasible/implementable, mutually exclusive Recommendation Decision :
Which of the above alternatives (marketing strategy) do you recommend? Why? Recommend how you will overcome disadvantages identified. Implementation Plan Apply Marketing Theory (BU352 textbook) Marketing Strategy : Overall segmentation strategy, include target market in positioning statement Marketing Mix: Product: Type, branding, packaging, labelling, product life cycle Price: 5 C’s, Strategies, tactics, suggested price(s) and mark-up(s) Place: Strategy, levels of channel structure, distribution intensity Promotion: Objectives, IMC tools - advertising, sales promotion, personal selling, direct marketing, public relations, social media, budgets and rationale Expected Results : Break-even, market share, profit, revenue target, marketing budget, timeline Projected results under different scenarios. Match/fit with decision criteria Polycorp has a number of strengths and weaknesses and facing opportunities and threats in 2016. Identify 4 strengths, 1 weakness, 1 opportunity, 2 threats – discuss an implication for each (total 8 implications) Case facts: - Recurring revenue every 3-12 months - Mining industry facing recession (sales dropped over 60%) - Mining industry 42% of company sales - Mining 78.3% export sales, largest opportunity for growth - Mining industry large players planning to sell 60% of assets with large workforce cuts - Lacked focus in Canadian market focusing on US and declined in service - Took opportunity to revitalize in CA and focused on niche high quality premium priced mill liners - Focused on only grinding mill liners for mining industry, protective liners for industrial market, and track encapsulation systems for transportation and light rail market - Each market significant barriers of entry - Produced specialized products that were benchmarks for reliability and quality - Serviced dangerous markets like the DR of the Congo - Focus on 4 main topics, superior products/tech, customer knowledge and focus on their needs, human capital/talent, and superior quality - Two new entrant competitors using disruptive pricing (lower price) to knock them off, in particular two large Chinese companies CITIC Ltd. And Naipu Mining Machinery Co. - Largest competitors Metso, Tega, and Weir Group all larger, more diversified companies - Strengths 1. Specialized Products & Quality – Polycorp is geared towards producing high quality products for a niche market. This allows them to benefit from economies of scale and charge a premium with higher margins than a competitor due to their specialization. While charging a higher margin may turn away some customers, it attracts high ticket clients that are interested in quality
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help