Sudhir telang machinery components PPT
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Sudhir Telang Machinery Components (STMC) was introduced in 1973 and sells spare parts and components for textile machines manufactured by Textile Machinery Manufacturing Company (TMMC). By 1977, STMC was manufacturing 1200 of the 3500 components used in each of the 11,000 Tasaku Textile machines. The company deals only with casting and machining of components and has seen sales doubling every year since 1973. STMC needs to determine appropriate marketing and pricing strategies as it faces competition from local suppliers and its original equipment manufacturer TMMC.
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Sudhir telang machinery components
STMC is a machinery components manufacturer that supplies parts for textile machines. The document provides a situational analysis of STMC and recommendations for marketing strategies. It discusses doing a SWOT analysis, focusing on customers, differentiating from low-cost rivals through quality and service, competing against the major competitor TMMC through differentiation and customer satisfaction, and implementing pricing strategies like premium pricing, price skimming, and penetration pricing. The goal is for STMC to double its sales through strategic marketing.
Stmads
STMC is planning to introduce spare parts for a new textile machine in the Indian market. They currently face competition from smaller machine shops that offer lower prices. STMC sells directly to mills while competitors use intermediaries. STMC's marketing strategy should focus on aggressively promoting awareness of their products through trade shows and advertisements. They should make it easy for potential customers to try their products and offer services like maintenance contracts to build loyalty. Implementing this strategy would help STMC gain market share before competitors enter the market and allow STMC to benefit from economies of scale.
Factors affecting price decisions
1) Internal factors like marketing objectives, costs, and organizational considerations influence pricing decisions. Marketing objectives can include maximizing profits, market share, or market skimming depending on a product's life cycle stage. Costs include fixed, variable, and achieving break-even points. Organizations must decide who sets prices.
2) External factors also affect pricing including market dynamics, competition, and other environmental influences. The nature of demand depends on market structure - whether perfect competition, monopolistic, oligopolistic, or monopoly. Companies must consider competitors' costs, prices, and potential reactions. Other factors are quality relationships, product lines, regulations, and distributor impacts.
3) Pricing decisions balance internal objectives
Competitive strategy
The document discusses competitive strategy and industry analysis. It begins by defining industry structure and the 5 forces that shape competition: threat of new entry, intensity of rivalry, pressure from substitutes, bargaining power of buyers, and bargaining power of suppliers. It then discusses the value chain and how activities within the value chain can provide competitive advantage. Finally, it outlines generic competitive strategies of cost leadership, differentiation, and focus, noting firms can pursue a cost focus, differentiation focus, or broad cost leadership/differentiation strategies. The key aspects of industry structure, sources of competitive advantage, and generic strategies are summarized in under 3 sentences.
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The document discusses Toyota's strategy of pursuing a low-cost leadership approach. It provides two major approaches for achieving low costs: 1) efficient management of value chain activities through economies of scale, learning curves, outsourcing etc. and 2) revamping the value chain through direct sales, increasing supplier efficiency, and reducing material handling. Toyota has been successful through this strategy by starting as a textile company and expanding internationally over decades to become a major automaker, introducing hybrid vehicles like the Prius to new markets.
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This document discusses five generic competitive strategies: low-cost provider, differentiation, best-cost provider, and focused strategies. It provides details on each strategy, including keys to success and potential pitfalls. For a low-cost strategy, a firm must make lowering costs a priority and find ways to achieve cost advantages that are difficult for rivals to copy. Differentiation requires incorporating unique features that cause buyers to prefer the firm's products over rivals. A best-cost strategy combines aspects of low-cost and differentiation to provide superior value. Focused strategies involve targeting a narrow niche market and developing capabilities to serve that niche's specific needs.
Cost leadership strategy
“Porter’s five forces model is an analysis tool that uses five forces to determine the profitability of an industry and shape a firm’s competitive strategy”[1]
“It is a framework that classifies and analyzes the most important forces affecting the intensity of competition in an industry and its profitability level.”
A firm pursuing a cost-leadership strategy attempts to gain a competitive advantage primarily by reducing its economic costs below its competitors.
If cost-leadership strategies can be implemented by numerous firms in an industry, or if no firms face a cost disadvantage in imitating a cost-leadership strategy, then being a cost leader does not generate a sustained competitive advantage for a firm. The ability of a valuable cost-leadership competitive strategy to generate a sustained competitive advantage depends on that strategy being rare and costly to imitate.
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With economic uncertainty, effective cost transformation is important for businesses. Michael Porter identified three generic business strategies, including cost leadership which is based on being the lowest cost producer. Whitbread has effectively implemented a cost leadership strategy through procurement practices, menu management, and labor scheduling. They have also launched training academies and used e-auctions to reduce costs. Ryanair has also driven innovation in cost leadership through baggage charges, eliminating check-in desks, and examining larger aircraft doors.
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Sudhir telang machinery components
STMC is a machinery components manufacturer that supplies parts for textile machines. The document provides a situational analysis of STMC and recommendations for marketing strategies. It discusses doing a SWOT analysis, focusing on customers, differentiating from low-cost rivals through quality and service, competing against the major competitor TMMC through differentiation and customer satisfaction, and implementing pricing strategies like premium pricing, price skimming, and penetration pricing. The goal is for STMC to double its sales through strategic marketing.
Stmads
STMC is planning to introduce spare parts for a new textile machine in the Indian market. They currently face competition from smaller machine shops that offer lower prices. STMC sells directly to mills while competitors use intermediaries. STMC's marketing strategy should focus on aggressively promoting awareness of their products through trade shows and advertisements. They should make it easy for potential customers to try their products and offer services like maintenance contracts to build loyalty. Implementing this strategy would help STMC gain market share before competitors enter the market and allow STMC to benefit from economies of scale.
Factors affecting price decisions
1) Internal factors like marketing objectives, costs, and organizational considerations influence pricing decisions. Marketing objectives can include maximizing profits, market share, or market skimming depending on a product's life cycle stage. Costs include fixed, variable, and achieving break-even points. Organizations must decide who sets prices.
2) External factors also affect pricing including market dynamics, competition, and other environmental influences. The nature of demand depends on market structure - whether perfect competition, monopolistic, oligopolistic, or monopoly. Companies must consider competitors' costs, prices, and potential reactions. Other factors are quality relationships, product lines, regulations, and distributor impacts.
3) Pricing decisions balance internal objectives
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The document discusses Toyota's strategy of pursuing a low-cost leadership approach. It provides two major approaches for achieving low costs: 1) efficient management of value chain activities through economies of scale, learning curves, outsourcing etc. and 2) revamping the value chain through direct sales, increasing supplier efficiency, and reducing material handling. Toyota has been successful through this strategy by starting as a textile company and expanding internationally over decades to become a major automaker, introducing hybrid vehicles like the Prius to new markets.
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“Porter’s five forces model is an analysis tool that uses five forces to determine the profitability of an industry and shape a firm’s competitive strategy”[1]
“It is a framework that classifies and analyzes the most important forces affecting the intensity of competition in an industry and its profitability level.”
A firm pursuing a cost-leadership strategy attempts to gain a competitive advantage primarily by reducing its economic costs below its competitors.
If cost-leadership strategies can be implemented by numerous firms in an industry, or if no firms face a cost disadvantage in imitating a cost-leadership strategy, then being a cost leader does not generate a sustained competitive advantage for a firm. The ability of a valuable cost-leadership competitive strategy to generate a sustained competitive advantage depends on that strategy being rare and costly to imitate.
Cost leadership
With economic uncertainty, effective cost transformation is important for businesses. Michael Porter identified three generic business strategies, including cost leadership which is based on being the lowest cost producer. Whitbread has effectively implemented a cost leadership strategy through procurement practices, menu management, and labor scheduling. They have also launched training academies and used e-auctions to reduce costs. Ryanair has also driven innovation in cost leadership through baggage charges, eliminating check-in desks, and examining larger aircraft doors.
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The document discusses different business level strategies including cost leadership and differentiation strategies. It describes Porter's competitive strategies of cost leadership, differentiation, and focus. It also discusses Bowman's Strategy Clock and how companies can pursue various positions along the axes of price/value to implement different business level approaches. Specific Sri Lankan companies are provided as examples to illustrate how they employ strategies like low cost, hybrid cost/differentiation, risky high margins, monopoly pricing, and focused differentiation.
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Based on the analysis of the financial ratios, Ghandhara Industries' liquidity, asset management, and profitability ratios are below the industry benchmarks in most years. Some key points:
- Liquidity ratios like current and quick ratios are below average, indicating potential issues meeting short-term obligations
- Inventory turnover is low, suggesting inefficient inventory management
- Profitability ratios like gross profit margin, EBITDA margin, net profit margin, and return on equity are below average and even negative in some years, indicating low profitability
- Earnings per share is also negative in recent years
Overall, the financial analysis suggests Ghandhara Industries needs to improve its working capital and inventory management, as well as
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Sudhir telang machinery components PPT
- 1. Sudhir telang machinery components Presented by- Saurav Pattanaik Ruchira Panigrahy
- 2. About the Company Sudhir Telang Machinery Components (STMC) introduced in 1973 Present business of STMC: Selling spare and components for Tasaku Textile machine These machines were manufactured by Textile Machinery Manufacturing Company (TMMC) TMMC : Sales in 1976 was Rs.10 crores Tasaku Textile machine: Total number of machines : 11000 & each of the 11000 machines had 3500 components Business plan : Be a spare and components manufacturer in the Indian market and considering multiple marketing strategies for its new line By 1977, STMC was manufacturing about 1200 of these components Major raw materials required : Furnace Oil and Pig Iron Deals with only casting and machining of components Business growth : Sales as on 1977 was Rs. 15 Lakhs & Sales had been doubling every year since 1973
- 3. SWOT Analysis STRENGTHS •Quality of the products •Less Breakdown and replacements •Low labor cost for installation & maintenance •Meets targets on time WEAKNESS •Single price offer for all types of buyers •No Distribution/Supplier Network •Lacks Experienced workforce OPPORTUNITY •New Factory to set up •Alliance with low-cost rival and derive synergies •Scope for Expansion THREAT • Competition from local suppliers and TMMC • Price sensitive customers • Govt. Policies • No Supplier Network SWOT
- 4. Problemstatement What Marketing Strategies to be adopted? ○ Enter in the price war with the low-cost rivals Keep the prices low and acquire a fairly large % of sales than other manufacturers. This would lead to increase in sales margin but decrease in profit margins What type of Pricing Strategies to be followed ? ○ Uses Cost + Margin Formula for pricing the products ○ Currently single price offer for all types of buyers ○ Currently sells without incurring any loss
- 5. recommendations COMPETITIVE ADVANTAGES BEING MORE CUSTOMER FOCUSSED STRATEGIES TO FIGHT AGIANST LOW COST RIVALS STRATEGIES TO FIGHT AGIANST COMPETITORS PRICING STRATEGY MARKETING STRATEGIES TO BE FOLLOWED
- 7. BEING MORE CUSTOMER FUCUSSED • Channel • Inventory • Logistics • Distribution • Advertising • Sales Force • Publicity • Sales Promotion • List Price • Discounts • Bundling • Credit Terms • Functionality • Brand • Packaging • Services Product Price PlacePromotion
- 8. STRATEGIES TO FIGHT AGIANST LOWCOST RIVALS Tactics are not used in isolation Offer a unique product mix like that of Combo offers Pitching on to similar product manufacturing small scale companies. Selling experiences discussing in-depth of the functioning of the components Costs and benefits are aligned before implementation Providing services at a subsidized price Internal marketing so as to provide solution with least lead time Keep track of the usage period to avoid Lead time Customers are persuaded well to pay for the benefits Providing strategized payment options which would neither affect the company nor the client Making good contracts when selling products & services Make polite contact Giving customers credit period depending upon their buying
- 9. STRATEGIES TO FIGHT AGIANST COMPETITORS Differentiation Customer Satisfaction Positioning through PR and Advertising Identify Flaws & Opportunities
- 10. PRICING STRATEGY Type of part New Parts Premium Pricing Price Skimming Old Parts Penetration Pricing Economy Pricing New & Old Parts Bundle Pricing Discriminatory Pricing Market Based Pricing
- 11. MARKETING STRATEGIES TO BE FOLLOWED Expanding Existing Customer Base Create New users • Market Penetration Strategy • Aggressive strategy Discover new users • Geographical/ Expansion strategy Defending current market share Position Defence Flank Defence Mobile Defence Expanding Market Share Add new product lines Improve existing product line Skimming price Partner with Allies
- 12. THANK YOU