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Marketing of Central Heating System - Case Study Example

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Marketing of Central Heating System

They can do a better job of choosing their market, developing their offerings and executing their marketing plans. Company needs a strong marketing information system to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. This information in developed from internal company records, marketing intelligence, marketing research and marketing decision support analysis. Marketers find many opportunities by identifying trends in the macro environment. A trend is a direction or sequence of events that have some momentum and durability. According to futurist Faith Popcorn (1992) a trend has longevity, is observable across several market areas and consumer activities and is consistent with other significant indicator that occur or energy at the same time. A new product or marketing programme is likely to be more successful if it is in line with strong trends rather than opposed to them. Companies and their suppliers, marketing intermediaries, customers and competitors all operate in a macro environment of force and trends that shape opportunities and pose threats. Within the rapidly changing global picture the firm must monitor six major forces: demographics, economics, natural, technological, political-legal and socio-cultural. Now we will analyze the there markets i.e. Poland Hungary and Czech republic on the basis of six macro- environments forces and analyze their needs (Market needs and Customers need) for central heating system. After analyzing markets trends the launch product in the said markets could be prioritized. During analysis we also take care of financial analysis of the product through Return on investment analysis. This process is called target- return pricing for the product. The firm determines the price that would yield its target rate return on investment (ROI). Many firms use target pricing. The target-return price is given by formula, Target return price = unit cost + desired return * invested capital/unit sales. After fixing the desired return company could easily analyze and perform break-even analysis so that it could assess that how many minimum numbers of units of product selling is essential to match their investment (Kotler, 2003).
(For data see appendix)
Poland: It is one of the Central European countries having population of 38.6 million. After world war -II until 1989-90 it remained under communist control as well as members of Warsaw pact. During the last decade Poland has made the transition to democracy and to market based economies. Now it becomes EU member state. Poland was the first economy in Central and Eastern Europe to recover to pre-transition level of economic output. Growth in GDP since 1993 has been very strong averaging over 5% annually and making the polish economy between the fastest growing economies in Europe. However, GDP per capita (measured in terms of purchasing power parity) remains very much lower than the other western European union members. The most notable features of Poland's energy sector are its heavy dependence on coal and the depth of power sector restructuring both to date and planned for the future. The total installed power generation capacity in Poland amounts to approximately 33GW while peak demand is about 24GW. So it is energy surplus country. Annual electricity consumption stands at around 124 TWL of which about 63% powers the industrial sector (including ...Show more

Summary

The marketing environment is changing at an accelerating rate, so the need for real time market information in greater than in any time in the past. The shifts are dramatic from local to global marketing from buyer needs to buyer wants from price to non-price competition…
Author : hodkiewiczthere
Marketing of Central Heating System essay example
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