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MARKETING MANAGEMENT REPORT

ON

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TABLE OF CONTENTS

1) PREPARING AN EFFECTIVE ORAL PRESENTATION………………………………………………..(3)

1.1) Use an attention-getting introduction…………………………(3)1.2) Present a strong conclusion………………………………...…(3)1.3) Practice your delivery……………………………...…...…….(4)1.4) Use effective visual support………………………...………...(4)2) ORGNIZING THE CONTEXT…………………………………..(5)2.1) the album list running example………………………………… (6)

2.2) separating presentation logic from the view…………………… (7)

3) ADAPTING THE AUDIENCE……………………………….… (8)

3.1) effective presenters……………………………………………... (7) 3.2) speak or engage?............................................................................ (7) 3.3) we retain…………………………………………………………(8) 3.4) know your audience……………………………………………..(8) 3.5) being flexible……………………………………………………(9) 3.6) handling difficult situations……………………………………..(9)

4) TELEPHONE AND VOICE MAIL………………………………(11)4.1) tips when answering the telephone calls………………………...(12)4.2) tips when leaving the telephone message………………………. (12)5) VISUAL AID……………………………………………………..(13)5.1) tools of the trade…………………………………………………(14)6) ELECTRONIC PRESENTATIONS………………………………(14)7) DELIVERY TECHNIQUES……………………………………...(15)7.1) before…………………………………………………………….(15)7.2) during…………………………………………………………….(15)7.3) after……………………………………………………………….(16)8) CONCLUSION……………………………………………………(16)9) BIBLIOGRAPHY………………………………………………....(17)

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Executive SummaryConducting research on the current marketing practices of Fibre Tech Company and recommending professional guidelines to make their marketing practices more prolific for the company is the main focus and the basis of the research. Fibre Tech Company manufactures various kinds of fiber products ranging from planters to fiber doors. The job of the group is to extract as much information about the current marketing efforts by the company, analyze and discuss it in the group and to suggest ways that strictly comply with the core marketing principles. We will analyze different ways through which Fibre Tech Company defines, creates and communicates value to its customers with the help of different marketing tools and recommend different strategies for areas where this company encounters problems. Our intention is to make the chain of defining; creating and communicating value to the customers intact and strong enough so that customers can associate value which the company intends to entrench in the minds of its customers. Our recommendations will be the outcome of what we have learned so far in the course and keeping in mind the principles of marketing the group members will frame a proper chain that can help the company stand out in the minds of its customers in terms of value amongst its competitors. The final analysis will be thoroughly and carefully looked over by our teacher and we will be graded majorly on the creative way of sticking to marketing principles and thus suggesting different ways to create a good marketing chain of defining, creating and communicating value to the customers.

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INTRODUCTIONFIBRE TECH is a name synonym with fiberglass products. The products are manufactured strictly according to the approved specification for the manufacture of fiberglass products and are guaranteed for a lifetime and are unmatched in Pakistan.

Established in 1995 it is now one of the leading manufacturers of Fiberglass Products in Pakistan. They specialize not in any one line of product, but cater to the varied requirements of the client. Planters, Dustbins, Awnings, Canopies, plain and corrugated sheets and food grade water storage tanks in various designs and sizes are the standard products which this company manufactures. Customer's opinions and suggestions have allowed the company to think in different dimensions and ways to create fiber products that are completely new to the fiber industry in Pakistan e.g. doors.

Years of research and development have resulted in improved quality and services. Quality is of Prime Importance to the company and on which there is no compromise. This is reflected by the fact that the clients of this company comprise of leading National and Foreign Banks, National and Multinational Companies, Educational Institutions, Local and Foreign Franchise Restaurants, Leading Industries, Government Institutions, Armed Forces, Recreational Facilities and Private Residences.

In short the varied items of this company cater to different segments of society. Should you therefore need to know more about Fiberglass and the infinite possibilities that exists in the manufacturing of Fiberglass products, the only place you need to go is to FIBRE TECH.

Though the company markets its products to a certain extent but majorly functions with the policy of not going to customers but allowing them to come the company and purchase the products. it does so by creating products of extreme quality and supplying it to its customers. Making people aware by word of mouth marketing is the basic marketing tool for the company.

The product of this company are made of pure fibre and reflects the impression of not getting rusted like steel and rotten and destroyed like plastic. these characteristics of the products of this company creates high value in the eyes of its customers with regard to the use and efficiency of the products this company manufactures.

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Company value delivery chain

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This is the overall view of the value delivery chain of the company. Raw materials are bought by the purchase department after when all the costs are analyzed and verified by the finance department. These raw materials comprise of the following products.

imported mat of OWENS CORNING

origin and Resins from BASF

Chemicals from Pakistan and Descon Chemical (Pvt) Ltd.

Pigments used are combination of imported and top quality locally manufactured pigments supplied by ZAINFARBEN.

All these raw materials are then converted into finished fiber products after when they are gone through sophisticated processes that take place in the following sections:

carpentry workshop steel fabrication workshop paint shop modeling shop lamination shop cutting and finishing department

Manufacturing process:

Unlike the usual process in several other fiber manufacturing companies raw materials in fiber tech go through the process which is the making of pattern and design in wood and then the product goes through the fore said process until it is deco painted as a final product. The quality of a product is very much dependent on the quality and finish of the pattern. From the pattern, moulds are made and thereafter the manufacturing process of lamination of fiberglass mats with a combination of resins, gel coat, pigments and various other chemicals. All fiberglass products are hand laminated, rot proof, and resistant to temperature change.

Due to the durability of the material, all products remain in good form for decades. Pigment blended into the material produce the beautiful range of different colors and finishes for all our products. No repainting is necessary. Maintenance is reduced to a mere wash down. After the products pass their final stage they are placed in the display centre and customers place their orders. Customers of fiber tech include huge organizations such as banks and hotels to an individual and households. Customers of fiber tech include

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banks petroleum industries

construction companies

five star hotels

textile companies

pharmaceutical companies

Servicing companies e.g. TCS.

educational institutes

chemical manufacturing companies e.g. Engro chemicals

An overall impression of this company is that it caters to several companies in various industries. Such as Engro chemicals from chemical industry, Carlton hotel from hotel industry and Soneri bank from banking industry. It also caters to furniture and architectural industries.

Company's final products.

Fiber Tech Company manufactures fiber products for its customers which are as follows:

Planters dustbins

security kiosk

domes

coverings

awnings

magazine stands

ac shades

waffle moulds

letter box

industrial trolley

advertising panels

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fume scrubbers

lights canopies

street light coverings and frames

Tea stands.

These products are made in the quantity that their customers demand. Fiber tech company takes into regard their customer opinions and suggestions regarding the manufacturing of different fiber products into totally different product categories. Such as fiber doors and planters are a result of good customer relations that the company pursues with its customers.

RECOMMENDATIONSCompany's value delivery chain so far gives an impression of being strong enough to meet the varied demands of its customers. Since the commencement of the company in 1995 Fiber Tech has restricted itself to a few raw material suppliers which tell a story that the company would have strong relationships with these suppliers. Thus the first two boxes in the value delivery chain seem to be quite strong for the company. recommendations to company's every single box in the value delivery chain complying with the core principles of marketing which could generate more value for the company are written as under;

Raw material suppliers:

Fiber Tech seems to have a strong relationship with its suppliers which are few in number. The company shall train their purchasing department to have latest information on the rates and quality standards of the raw materials being supplied and always have a peep into the value delivery chain of the companies that provide them with raw materials. This would allow the company to negotiate on rates with the suppliers and thus reducing the costs of the company.

Manufacturing of raw materials into finished goods:

The company takes its raw materials through different processes and then converts them into finished products. This box in the value delivery chain puts more emphasis on the marketer efforts of understanding the customer needs and what customers value the most in their products and which products. This will need a good company and customer relations

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as well as past records which would guide the company as to which products to produce and how. A marketer has to have knowledge of how much value do customers give to different processes in the manufacturing chain. A marketer should analyze its products from the eyes of its customers in the following major parameters:

Style of the product: the marketer must engage into customer interactive practices to extract information regarding customer value on style of various different products that companies manufactures.

Manufacturing processes; this includes the analysis of the customer values on different processes involved in the manufacturing of the product into final products. This can include the paint process and the framing process. The marketer must have knowledge as to which process is more valued by the customers. If the customers value the paint process and deco finishing process then the company should go on focusing this process to create more value for the customers and the company itself.

Product itself: other than the routine products fiber tech manufactures. It should have a practice of innovating the products and developing new products which their customers value the most. This would allow the company to enter into new products lines and categories which its customers value increasing the value for the company and the customers as well.

Warehouse and storage:

In the actual value delivery chain of the company there is no significant inclusion of the warehousing and storage services. this might be of serious problem to the company as if a customer orders and demands it to be met within a short period of time then no matter how strong relations the company will have with its suppliers it might be possible that the company could not meet the demands of it customer thus decreasing the value of the company in the minds of its customers. Warehousing and storage facility would reduce the consequence of this problem and would further enhance the company value. As fiber products the company manufactures are most durable then storing them would be of fewer problems to the company.

Company's own display centre and other retailing services:

Currently the company has two display centers in Karachi where as it supplies its products in different markets in Pakistan. The products in the display center are just kept on display. Certain products such as planters and magazine stands can be sold to the customers of this company in different parts of Pakistan through different retail stores not company retail stores but different retailers who deal in similar products. Company retail stores in different markets would require huge resources and currently would seem inappropriate investment by the company due to restrictions of funds.

The new value delivery chain for the company would be as under:

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This new value delivery chain will enhance value for the company as the company will be in more good position and state of transferring its products from the company to its

customers. Customers in the end can either buy the products of the company and if they need products in huge quantity the company would be in a better position to supply the

products to its customers.

COMPANY, S CONSUMER BEHAVIOR

MODEL

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In actuality consumer buying behavior includes the following basic models:

value for the customers consumer buying behavior

four types of consumer products

Current structure of consumer buying behavior in the company:

Value for the customers:

There are four parameters by which value for customers can be measured and four parameters which show the total customer cost in obtaining that value. These parameters

are listed below:

Total customer benefit:

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image value personnel value

services value

product value

Total customer cost:

monetary cost psychic cost

energy cost

Time cost.

When these costs are minimized total customer value delivered is greater. Fiber tech customers put associate greater services value with the products of the company and then the product value because of the superior quality of the products lasting for many decades. Fiber Tech Company does not pay a lot of attention at reducing the total cost of customers. This might be the reason because the company only has two display centers in Karachi this can probably increase the energy and time cost of its customer.

Types of buying-decision behavior:

Consumer buying decision demonstrates four types of consumer buying behavior for which the customer has to take decisions in different ways. These four types consumer behavior are as follows:

High involvement and less brand significance products:

Consumer buying behavior that comes under this category is called dissonance buying behavior. Consumers are faced with very less brand differences and high involvement. This means that customers have to get themselves completely involve in buying the product in terms of energy and time costs. Example of one product which can be taken into this category is carpets.

High involvement and huge brand differences:

This type of consumer behavior where customers are faced with huge brand difference and are completely involved in buying the product is called complex buying behavior. This means that there are many brands competing in the market for a similar product. Example of designer brands can be taken into example.

Low involvement and significant brand differences:

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This type of consumer behavior is called variety seeking behavior. This is because customers have significant brand differences for a similar product but there involvement is much low in terms of time and energy costs and an example could be taken of a washing powder.

Low involvement and less brand difference:

This kind of behavior is known as habitual buying behavior where customers do not pay much attention in buying a specific brand thus their involvement becomes very low. Sugar can be taken as an example for this kind of buying behavior.

Difference between brands

Involvement level

High lowSignificant

brand difference Complex buying behavior Variety-seeking buying behavior

Few or no brand

difference

Fiber tech products

Dissonance reducing buying behavior

Habitual buying behavior

Consumer buying behavior of fiber tech customers:

Customers of fiber tech are faced with low brand differences and high involvement. This is because there are not many fiber manufacturing companies that brand either their company or their products. High involvement occurs due to the fact that fiber products tend to last longer than a decade and are not bought frequently this is why customers involve themselves in terms of energy cost and time cost as well as monetary and psychic cost.

Established brands of fiber products in Karachi

national fiber habit international fiber

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Alraheem fiber international

Deewan Salman fiber limited

With these few brands in the fiber industry fiber tech is faced with consumer buying behavior of dissonance buying behavior. This can be the reason because of the poor branding strategies of the products that fiber tech manufactures. The buyer decision process of the customers of fiber Tech Company is as follows:

In actuality there are five stages of a buyer decision process:

need recognition information search

evaluation of the alternatives

purchase

post purchase

Before buying a product a consumer passes through this decision process and realizes that which factor has lead him to decide to buy the product. It can be through need recognition and then the information search and so on till the last stage which is post purchase behavior. This post purchase behavior can result in a negative or positive response. If the customer is satisfied with the product he may purchase the product again and if the customer does not get the correct value from the product he may go back to the evaluation of the alternatives process back. This would be the negative response from the customer. Fiber tech customers stand at the need recognition decision making point and from this place they move forward to the purchase decision.

RECOMMENDATIONSThis part contains recommendations for improving the consumer behavior of fiber tech

products and making customers loyal to the company's products. Starting with the consumer perceived value fiber tech should realize what values do certain attributes and

benefits its products have for its consumers. We consider fiber Tech Company should pay more attention in creating value for its products on the following value parameters.

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product value service value

Fiber Tech Company markets its products on the basis of quality as the phrase goes for the company "quality that moulds to your needs". This phrase may seem to misguide the

customers as the phrase suggests different standards of quality within the firm. Fiber tech should go on customer interactive practices to understand which attributes and benefits are

of more value to the customers of fiber tech and how these attributes and benefits are offered by the competitors. All the products made by fiber tech are of extreme quality and are durable as well. Product value of one certain product of this company can be taken as

an example.

Product value of fiber planter:

attributes of a fiber planter is that it is durable provided in different shapes and colors and its benefits are that it does not get rusted like steel planters, does not break down like clay

and mud planters and provide with a clean yet stylish internal and external look of a house, office, shops and any public place like malls, parks etc. now let's consider an example of

services value of a different fiber product.

Service value of fiber coverings:

fiber coverings for car parks, swimming pools, stalls and etc is a product of fiber tech. the company can ingeniously create service value for this product and can enhance the value by

offering after sales service such as cleaning service for the coverings and repaint service to prolong the life of the coverings. Fiber tech can easily reduce the psychic cost in obtaining

and using the coverings. As recommended fiber tech should position its products as durable in the minds of its customers.

Coming towards what category does the products of fiber tech company fall in is a difficult question to ask. The company has so far branded itself but the products this company

manufactures go nearly unbranded but there are very few companies that have branded themselves as fiber manufacturers and this can be the reason why the company holds itself in the dissonance buying behavior box. This is because there is high involvement in seeking

fiber products as no customer would find a fine fiber product near his house on a local retail store. Fiber products are bought considering the fact that they are of used for a much

longer time period. According to the survey there are very few brands that compete on making fiber products. Few of these brands are:

national fiber habib international fiber.

According to the principles of marketing it can be recommended that fiber Tech Company should brand its products around the following parameters:

Uses: unique and simple uses of the products shall be clearly and differentially defined.

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Attributes: important attributes such as durable and long lasting shall be made clear.

Benefits: add beauty to the internal and external environment and reducing the replacement cost as the product can last more than a decade.

Promise: a promise that the product will function as mentioned above and will completely meet the expectations of the customers.

Memorable: the brand that fiber tech needs to give to its products shall be easily recalled and recognized. This can be done through advertising as well as delivering a

promised product which meets the expectation of the customers.

Likable: the brand name should have a strong emotional appeal and should be likable visually or verbally. I think fiber tech can be stronger at making a visual

appeal for their products.

Meaningful: the brand name for fiber products should specify the users as well as uses of the brand itself.

Protectable: the brand name should be competitively and legally protectable.

Transferable: it should easily be transferable this means new products can be introduced in the category under the same brand name.

Take planters for instance. Fiber tech can either brand its products such as planters under the company name or develop a new brand for this product. This new brand can

substantially differentiate the product planters from other fiber and steel planters. This can create a brand difference and can be substantially profitable for the company as it can

probably drag consumers from low involvement to high involvement thus increasing the brand difference. Fiber tech can apply this strategy to all its products. Customers in the case

of fiber tech products are first faced by a need of having a durable product that can last long. Take fiber planters in this case as an example.

Need recognition:

Customers are faced by external stimulus of having an indoor and outdoor planter which do not get destroyed by water and have a long life. Now this is the job of fiber Tech Company

and its marketing managers to make the consumers aware of their fiber planters which could fulfill their needs through advertisements which could catch customer attention and

allow them to buy the products.

Information search:

Currently customers come to fiber tech by getting aware of its products either through family, friends, neighbors, acquaintances and display centers. Marketing department of

Fiber Company shall advertise its products in this case planters to its relevant target audience in a way which is profitable for the company. This means if fiber Tech Company

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targets households for its product planters it should find ways of advertising which could effectively reach these houses. This can be done by giving an ad in a gardening magazine or

indoor furniture magazines.

Evaluation of alternatives:

After advertising the products through the right mediums that might be the home magazines and furniture magazines the job of fiber Tech Company's marketing manager is to maintain product attributes and benefits that serve the need of the customers. This can

be done by mentioning clearly in the advertisements the benefits which in the case of fiber planter can be no rust which provides clean environment and adds beauty through its

unique style and design. Attributes also have to be clearly communicated which in this case would be the durability as is in the case of all the fiber products of fiber tech and colors as

well as several different designs. This would attract more customers as different customers would prefer different benefits and different attributes. Fiber tech planter will be evaluated

on these parameters with the competitors. Fiber tech marketing manager needs to make one or two benefits and attributes ingeniously better than those of its competitors. This

would bring more customers who value these attributes and benefits.

Purchase decision:

After evaluating and considering fiber tech products for final purchase customers may look for risks associated with purchase such as:

Functional risk: this means that the planter does not perform its functions. Physical risk: this could be that keeping a planter inside or outside the house will

probably pose a threat to physical well being or health of the users.

Financial risk: this can arise when the customer thinks that the price for the product is not worth.

Social risk: this means the product may result in embarrassment from others.

Time risk: this includes the opportunity cost in terms of time to find another satisfactory product.

fiber tech company needs to assure its customers that its products in this case planters have no such risks involved as they are durable and utterly of high quality. Now it is their

job to deliver what they have said.

Post purchase behavior:

The job of the marketing manager is to completely stay in touch with its customers even after they have sold the product and analyze that which attribute and benefit is highly

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valued by its customers. in case of planters marketing manager would be able to know that do planters serve the need of having a better long lasting planter that do not get rusted like that of steel ones or is serving as a decorative item. This could allow the marketing manager to revise its attributes and benefits for its target audience. Marketing manager of fiber Tech

Company has to take a look that the needs for which the products are being bought are fulfilled effectively or not. If this is the case customers are satisfied as their expectations are

completely met. This could allow word of mouth marketing for fiber tech products as delighted customers praise the product with their friends and at their work places.

Ultimately this would result in a repurchase of the product or other products of the company.

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Competitive strategies of fiber Tech Company

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Current competitive practices:

In the beginning fiber Tech Company used flanking strategy and copied the market leader not in the region that is Pakistan but in the fiber industry. The market leaders were a Dubai settled manufacturer of fiber glass water tanks and coverings.

Designs and methods of manufacturing these products were understood by the owner of the company and were applied to produce the products in the Pakistani market.

Breakthrough development of fiber products in 1998:

in 1998 as afore said fiber tech came in with a breakthrough launch of fiber planters, doors and other products as mentioned above and became the market leaders of the these fiber glass products.

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RECOMMENDATIONS

After analyzing the market, Fibre Tech is not in the leading position. Therefore its current attacking strategy is not an effective one. Such Frontal Attacks require huge amount of resources and the company must have at least 3:1 advantage over the competitor. But Fibre Tech does not have enough resources and they expect greater returns. Therefore the resources and risk the company is bearing would be more cost effective if the company realize its actual market position, and launch appropriate attacking strategy which would be more cost effective and bring huge returns for Fibre Tech.

We believe that that Fibre Tech could do much better by becoming more competitors oriented. If the key to success were to introduce newer products that are closest to those wanted by customers then the market leader would be the one which simple performed best research only.

So the Fibre tech must follow a better marketing plan that should include an extensive section on its local as well as global competitors.

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In order to be more competitive Fibre Tech must execute a superior strategy.

The company does not see itself as the market leader. So its best strategy often is to launch a flanking attack on its competitors. Launching the flanking attack will reap the following benefits for the company:

• Lower risk through improved forecast accuracy. Analyze the data more frequently for more accurate forecasts. Data and attributes of marketing mix models could be stored in a dynamic form for Web reports that are generated easily. Better forecasts would allow anticipating changes in consumer buying patterns and responding quickly to market shifts.

• Increase profit through more effective use of marketing resources. The firm may easily calculate the effects of specific marketing tactics across business units, channels, geographies, product lines and time horizons. Lower marketing expenses by more frequently predicting the performance of marketing campaigns at different levels.

• Improve competitive advantage through greater flexibility. The firm may consolidate results from multiple sources of marketing mix models, regardless of who built them. Intelligently stores both in-sourced and outsourced model results to more readily choose vendors to meet your ever-changing needs.

To exercise such attack the company can:

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• Avoid direct competition by launching new products for example custom shaped water tanks with different bottoms.

Bringing in more variability in their products would also give them a competitive edge. For example offering more colors in sheets, canopies, domes, skylights, shed, shades, corrugated sheets would give them edge over its competitors.

• Launch new products specially designed for some segments that are not well served by the existing competitors. For Example, The Medical Tufport could turn the pick-up vehicles into an instant on-site ambulance. Emergency Transport Vehicle (ETV) can make the difference between life and death of an injured worker—providing a fast response and safe transportation to a hospital. An ETV is a cost-effective solution to quality emergency care and transportation needs for all crew sizes.

Another Example may include KOOL-HAUL product. This is an Insulated transport for the fresh or frozen goods. The KOOL-HAUL slide-in unit installs easily into any full-size pickup truck and removes the need for a dedicated transport vehicle. Add the optional refrigeration/reefer units and the KOOL-HAUL becomes a mobile fridge or freezer.

• Each firm in the Fiber Glass industry is offering a free installation services. But Fibre Tech can have a separate Design and Consulting Services that would give the leverage and the power of scientific methodology through its value defined technology and business acumen to deliver next-generation products, processes, systems and services to their customers.

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• Fibre Tech has been innovators itself in the household fiberglass products in Pakistan. This helps them to keep themselves in the leading position in the mind of consumers. To sustain this position, introducing products that are better than your existing ones would be a helpful strategy. Even if the new product has fewer profit margins and may reduce short term profit, it accomplishes a more important long term goal of protecting the firm’s market share.

• Fibre Tech may also use new distribution channels as well in order to attack the market leader of Fiber Glass Products in the market. For Example the firm may open its more franchises and display centers in order to get a competitive edge. Moreover it could also distribute its planters and some of its miscellaneous products like Fiber Glass Dustbins in leading supermarkets and departmental stores all over the country using innovative packaging and displays which the competitors’ lack.

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Flanking attack is not a direct attack on the market leader, but rather an attack in an area where the leader has not established a strong position.

This flanking strategy is not a low-risk strategy. Market acceptance of an innovative product is unknown, and test marketing must be kept to a minimum to guard the element of surprise.

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Defining valueMarket Segmentation, Targeting and

Positioning at Fiber Tech.

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After commencing the company in 1996 fiber tech started with the normal fiber products such as water tanks and coverings. They became the market follower in the span of two years. After interviewing the marketing manager, who is the owner itself. The early basis for segmentation for fiber consumers was as follows:

demographics geographic

Demographically they segmented market into three groups which were income, occupation, family size and family life cycle. Geographically they segmented the market into regions such as lower region of Pakistan which contained Sindh and Balochistan and upper region of Pakistan that is Punjab and N. W. F. P.

Why choosing segments from the demographics.

The reason that allowed the company to segment its market into this these segments demographically was because fiber tech products such as coverings and water tanks were expensive items and were bought by the people who actually had a particular income level. They suggested that a fiber tech customer should have an income of at least 50000 or more.

Why segmenting the market geographically:

Initially fiber tech segmented its Pakistani market geographically into two segments. Lower and upper region. The reason was that fiber tech in the early stages only manufactured water tanks and coverings and they segmented the market because the lower part of Pakistan has always faced a water problem and fiber tech wanted to offer a product which acts as a long lasting water reservoir in the form of water tanks of different sizes and shapes. The upper market was segmented because fiber tech manufactured products such as coverings to give its customers in the upper region protection against snow fall and rain which was a routine process in some of the parts of upper regions of Pakistan.

Break through products in 1998:

After two years of establishment of the company fiber tech with the help of its customer opinions and a little bit research came up with a breakthrough product which was fiber planters. No fiber company in Pakistan ever made or manufactured fiber planters. Since then onwards fiber tech has been innovating and developing new fiber products in the shape of doors, road blockers, dustbins letter boxes magazine stands, awnings, deluxe, security cabins and the list goes on. They segmented market for these products in the same old fashion that is demographically and geographically.

Targeting:

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Out of what they segmented fiber tech went on targeting every single segment. This reduced their capability on focusing on different targets separately and creating different advertisements for different targets.

Positioning:

As the name suggests that fiber tech manufacturers of quality fiber glass products followed by the positioning statement that says quality that moulds to your needs. It’s a little ambiguous because the company uses the word "your" which makes everyone their customer. The other drawback is the double standard of quality as in the first stamen it says that we are the manufacturers of quality products and the second says that quality can be adjusted according to your needs. This will be evaluated in the recommendation section.

Recommendations

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Segmentation:-

Due to the rapid growth in the fibre glass industry in last 6-7 years, Fibre Tech can now encash upon the new production opportunities in the market and revise its segmentation as there are certainly new customers in the market. Fibre Tech can now divide its market into following segments:

Segmentation By Geographic Location:

The potential customers of Fiber Tech. are from all the geographical areas of Pakistan. Rather than eyeing customers throughout Pakistan ie. All its rural, urban and main cities of Pakistan, it is advisable to concentrate more on the market segment activities in the province of Sindh in order to be more cost-effective. It would have advantage of location; they can easily visit the site where their products are to be installed and least transportation cost and easy after sales and maintenance services.

Segmentation By Occupation:

Rather than relying heavily on its Public Relations, Fibre Tech must now consider specially cater to the professionals associated with the construction industry. Rather than targeting the Doctors owning private clinics or Individuals who have swimming pools at their homes etc. We believe that the professionals related to the construction industry would bring in a great business for Fibre Tech.

It must specially cater to the needs of architects, contractors, project managers, construction engineers and managers, civil engineers, gardeners, interior designers etc.

Segmentation by Volume Requirements / Usage:

Fibre Tech has demand from individual customers for example each of AC Stands, Water Tanks, and Sales kiosk for their industrial or domestic purposes. The quantities may vary from customer to customer. There also may be demands from Hotels for window coverings, insulation, Banks may

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order for counters for each of their branches etc. So the company may divide its customers into segments which vary on volume requirements.

Segmentation by Industry:

Fiberglass is now a very popular alternate to heavy and bulky steel, iron, and plastic products. The use of glass fiber can also be divided into various market segments such as automotive, marine, construction, recreation etc. All these industry have huge requirements of fiberglass products which fulfill their needs. So the company must select that segment of the market which they could cater more profitably.

Segmentation by Personality and Lifestyle:

Fibre Tech must also segment its market by personality, by targeting those members of the adult population who prefer less sophisticated attire, and prefer a more decent and sober outlook of their homes, who prefer comfort and quality over price.

Segmentation By Income:

Customers are from every income group whose income ranges from Less than Rs.10000 per month, Rs.10000 ~ Rs.50000 per month, Rs. 50000~ Rs. 100000 per month and greater than Rs. 100000 per month. The products produced by Fibre Tech can cater to the everyday needs of each person. But the final segment which they could serve profitably is the people from income group of earning greater than 50K per month.

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Targeting

Considering the fact that the new segments of customers of fibre glass products have been created over past 6-7 Years. After the market has been separated into its segments, the Fibre Tech will select a segment or series of segments and 'target' it/them. It must divert its resources and efforts towards the targeted customers.

We believe that the Fibre Tech must go for a multi-segment approach. Here the company will target a variety of different segments with a series of differentiated products that are of high value to its various targeted customers.

Fibre Tech mainly produces three types of products which cater to the needs of individuals who prefer high quality, durable, reliable and most importantly tailor made fibre glass products which matches the needs of its individual customers. These product categories include planters, coverings and miscellaneous products.

Plantings

The growth of Fibre Glass industry has also replaced the conventional clay pots which were used for planting purposes. People were hesitant for indoor planting because of the probable mess created if those pots break. So this innovation started by Fibre Tech in Pakistan would give such people some relieve. So if the gardeners or interior decorators who greatly value these easy to handle and light weight planters, are targeted, the company would be able to create value for the customers as well as the company

Strength without weight sets these planters apart from fragile, heavy clay or concrete planters. Such fiberglass planters are approximately 1/10th the weight of concrete and even the largest planters are easily handled and shipped.. This would give a lot of more easy options for example, stone, clay pot, Cast Iron designed planters would give them more color and design options for their clients.

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Term Report

Coverings

Fibre tech coverings has many good properties such as sunlight proof, corrosion resistance, ultraviolet radiation proof, high tensile strength, preventing burning, low coefficient of heat expansion and cold shrinkage, proper mesh hole, beautiful and durable. Such technicalities and jargons would be easy to understand for architects, construction managers and project managers. So Fibre Tech must select them as their target for their coverings. Such targets would ensure that the company gets more job orders for them, enabling them to provide value to its customers as well as for the company itself.

We believe that such professionals are closer to the final consumer, and they can understand the individual needs of each customer, keeping all the technicalities in mind. Rather than going to every client (hotel, office building, top-grade residence, car, rest sites, swimming pool) directly, these target customers and professionals have a larger clientele and can easily bring in new orders of Sun Shades, Car Porch, Sky light etc. for the company.

Miscellaneous

This category include fiber glass products like waffle moulds, AC Shade, Letter Box, Dust Bins, Industrial Trolleys, Advertising Panels, Street Light Covers, Exhibition Stalls etc etc.

So selecting contractors, builders, interior designers, and project managers as their target customers for miscellaneous products would ensure new business and bring in more orders for the company. These professionals would exactly know the requirements of their respective clients and how those Fiber Tech Products can can specifically fulfill the requirements of their clients.

Each user is basically one time user, so a large clientele of contractors, architectures and project managers would make sure that the Fibre Tech products have a larger market share.

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Positioning

Positioning has come to mean the process by which Fibre Tech must try to create an image or identity in the minds of their target market for its product, brand, or organization. The objective is to select segments in such a way that the firm maximses its profits. It is the 'relative competitive comparison' their products occupies in the market as perceived by the professionals in the construction industry as well as the users of fiber glass products.

Such a position statement by the firm would help them change the firm’s internal culture by teaching employees to be the problem solvers for the customer.

The firm may highlight its important product attributes that each customer values. Fiberglass possesses certain physical qualities which we believe make it a superior alternative to traditionally used materials which the Contractors, Interior Designers, Architects and Project Managers values greatly.

These attributes may include:

1. Resistant to water absorption ( Fiber Insulation)2. No chance of Leakages ( Overhead Water Tanks)3. Light Weight Artistic Planting ( Designed Planters)4. Durable - Survives harsh conditions with lower replacement needs than steel, ductile iron and

concrete.5. Anti-corrosive - Leakage from corrosion is significantly less than other materials meaning a

longer life than other more corrosive materials.

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“ The solution to your needs is Fiber Tech”

Term Report

A defined market position that targets a niche market is a great opening play for Fibre Tech. Whether they are leading new product marketing efforts for a major corporation or starting up in the most entrepreneurial of businesses , niche position in the market allows for good short-term prospects and the potential for long-term business maturation beyond the initial niche position.

Fibre Tech’s offering will be well aligned with the needs of the selected few people in the market. This is better than a product/service that is designed to have a wide appeal to everybody. We think that such an approach will give the company a chance to have larger business as these targeted customer greatly values fiber glass products characteristics such as water-proof, anti-leakages, light weight, different color options , durability etc.

Such positioning would also provide the company with an identity, and gives customers, even who are unfamiliar with the business, a reason to consider deal with the company.

In this manner, the strong, defined market position can help to build business in other segments of the market over time, and grow beyond current niche position. Of course, word will spread within the niche as well. People within the niche may be alike in certain demographic categories and thus more likely to spread word about Fibre Tech. quality products to peers.

Serving their clients with the quality products of Fibre Tech, would help them to build up their own rapport in the construction business, eventually building the brand of Fibre Tech.

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Creating Valuebranding, pricing, servicing and

distribution .

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Term Report

Branding

As we know a brand is a distinguishing name or symbol intended to identify the goods or services of either one seller or a group of sellers, and to differentiate those goods or services from those of competitors.

The name of the company which is Fibre Tech clearly tells us about its product and tells us that it deals in Fibre products. They basically develop all Fibre products which include planter, dustbin, covering, mould products, decorative, door, tanks, sheets and etc. Years of research and development have resulted in improved quality and services. Quality is of Prime Importance to them and on which there is no compromise. And that is one of the main reasons for its strong brand in the market today.

Today Fibre Tech is a strong brand name which creates Value for the consumers and for the corporations.

Value to the consumer can be in terms of

1: identification reduces search cost

2: assurance of quality reduces perceived risk

3: status and prestige reduces psychological risk

Value for the corporations

1: identification helps repeat purchase

2: ability to identify permits promotion

3: familiarity helps new product introductions

4: identity helps premium pricing

5: Positioning helps market segmentation

Building a strong brand is really important and at the same time is not too easy. You need to make a proper blue print for the brand to be a success and a solid foundation. Fibre tech has differentiated itself with the help of the following environmental factors i.e the product’s target audience, the products service uniqueness compared to other brands and the products relationship with other brands that are already familiar to consumers. Through these factors it has made its brand name strong in the market and has clearly differentiated it self.

Fibre tech has differentiated in order to provide unique benefits that the brand offers to the target market segment.

Fibre tech has such a strong name that it can extend its brand into other lines.

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Term Report

Recommendations

Fibre Tech needs to concentrate more on their branding in order to expand in the market.

They need to focus more on delivering the brand up to the customer’s desire by asking the customers about any problem they might be facing or any suggestions they want to give. Fibre tech should also be in touch with their customer’s taste and the current market conditions in order to maintain its strong brand positioning in the market. Basically they should try to know that is their brand still of any important relevance or the competitors have taken over?

More over the value they are promising in their brand should be their in the product or else the customers will loose trust in the brand. Besides this they need to concentrate more on their positioning so that they can easily differentiate themselves with their competitors. As there is not much difference in their products, with those of their competitors. Fibre tech also does not maximize its market coverage as there is not much promotion done and there are other competitors too who have a wide market coverage.

Fibre tech should also create detail research driven portraits of their target customers and should try to know what the brand means to the customers and what they like about and dislike about their brand. And in order to make the brand even more stronger they should carry on proper Research and Development which will help them knowing their lacking areas and so that they can over come them and they should also conduct periodic brand audits to assess the health of their brand and to set the strategic direction.

Service marketing

FIBRETECH provides complete services for manufacture of Fiberglass products. Our Standard products are made according to the standard specifications of these products other than colors, which can be in any color as per the client requirement.

However, as regards products other than our standard products, we can mould into fiberglass any of the client’s requirements. This could be a canopy covering, an item for sales promotion, a planter for any design other than ours etc .The possibilities are infinite.

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Term Report

In case of client’s requirements for products other than our Standard Products, we follow a set procedure as follows.

• Identify the client’s requirement • Technical Team visits site for measurements and understand site requirement.

• Prepare Technical drawings along with quotations. • On receipt of approval of quotation and advance payment, work commences at factory.

In undertaking architectural work, we do not limit our services to manufacture of fiberglass products, but also undertake Steel Fabrication works, and related paint works.

Through the above set procedure Fibre tech tries to differentiate from its competitors on the basis of its service by installing these products.

Recommendations

The main of service marketing is to create value for the customers. They need to differentiate themselves from its competitors in order to have a strong market position. Although it is a product based company as it deals with Fibre products and it should differentiate in terms of product but it also need to differentiate itself in terms of service marketing. They should along with making and delivering the product, should also install these products.E.g. If a customer has ordered doors, they should install them apart from delivering them. This can be an important way through which they can differentiate themselves and this is how value is created. More over there should not be too much variability when delivering the service as quality of service depends up on who provides it and when, where and how, so there should not be too much variability.

Besides this they should make a proper blue print of their service from the beginning till the end where they have finally installed their product. This blue print should include each and every step as it will help the company to find out which is the area where they are facing problems and how can they stop by taking immediate actions. As service blue print will provide them a proper and systematic way of going through their service and finding out areas of problem. Besides this Fibre tech in order to improve its quality, should also try to remove and minimize its gaps which can improve the service quality. The first and the most important gap is the gap between the customer expected service and company perception of customers expectation. Although the mission statements says that “quality that moulds to your needs” but what the customer expects in the quality can be different from what the company thinks the customer wants. So they should try to remove this gap or else they might loose customer. This is usually because of poor communication between the customers and management and between the front line employees and customers but this gap can be closed by building strong customer relationship.

More over they should also try to hire the right people for the service marketing and should develop them to deliver service quality. They should also deliver that service which they have promised to. The standard of service can exceed from what they have promise but should not be less than what they have promise. In short, in order to improve service marketing you need to finish the gaps between the customer and the company.

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Pricing

The pricing policy of Fibre tech is usually through the normal method which is the Cost plus pricing. The company adds its own price after its calculations with the cost price of the product. However the company also sets its price based on the customer’s expectations.

In order to charge a high price for the product you first need to create the value for the product and this is done through promotion. If the promotion is done good and the customer is convinced and creates value for the product than only a firm can charge a good price for the product.

Recommendations

Pricing is really important because if they don’t offer the right price their competitors might take over the market which can be a problem for Fibre tech so offering the right price at the right time is important. Fibre tech sets it price based on the policy of cost plus pricing which is a comparatively better method than their other pricing method which is that its price is kept according to the customer expectation so this will affect the company’s profit as the customer will place that price which will suit them

And as their mission statement says “Quality that moulds to your needs” which clearly means that they keep on changing the standard of their quality according to the needs of their customer’s demand. So the quality of their product varies which can be a negative sign and can affect their standard if too much care is not taken. They don’t offer a fix price for their product which can lead the customers to leave them. More over they should use the skim pricing strategy. Which means keeping high pricing when entering the market. Although in order to attract customers you usually keep low prices but here they should set high prices. Fibre tech’s customers are mostly big institutions so paying high price for quality products is not a problem.

There target markets are mostly bank, multinational, schools, hospitals and etc. so keeping high price will not affect its customers as they all are large organizations and institutions. The prices are high but this high price also assures high quality. Besides this they should also in order to increase the demand for their product and in order to create more value, should reduce price for a particular period of time so that more customers are attracted towards their company. Like for E.g. 10% discount on the purchase of 100 planters. This is only done to attract more customers.

They should improve their inventory system this will help them to check in what amount the goods are being bought and sold.

Distribution

Distribution is the delivery of a good from its manufacturer to its user. Fibre Tech does not have any retailer. They have their only one outlet at Defence phase 2 which is their display center. Customers go there place an order and within a certain number of days as per agreement they get their

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product. Samples are shown at this outlet where the customers can easily select what they want. Fibre Tech usually doesn’t make products before hand. Products are only made when an order is placed by the customer.

Recommendations

Fibre Tech lacks in their distribution phase. Their distribution channel is directly from the manufacturer to the customers. They don’t have retail outlet and neither do they have any other outlet except one in phase 2 which is their display center. Even if they don’t want any retailer to sell their product, they should at least open more display center in different places in Karachi like one in North Nazimabad, one in Industrial area and one can be near I.I. Chundigar road.

More over selling its product out of Karachi will also be a good way to expand its business as more customers will get to know about the Company.

They should also follow few activities which link the manufacturer with the customer like for E.G selling activities which includes advertising and personal selling. Fibre Tech should also deliver the product at the place where they are needed. Fibre Tech also make products on order which can result in loss of customers as when a customer needs an immediate delivery and when the company does not have the stock in the warehouse so they have to make them which takes time. This results in that the customer goes to its competitors.

Fibre tech in order to increase its sales should provide its product to the customers through different retailers as it will increase their sales because more customers will get to know about the company as there is not much advertisement done by the company and the retailers already have a lot of contacts and customers.

To be precise it is better for Fibre Tech to sell its product through the retailer as it is more efficient and to follow the selective distribution which is that there should be more than one reseller.

communicating valueadvertising, sales promotion, direct

marketing and public relations.

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Term Report

Advertising:Fibretech products which are manufactured strictly according to the approved

specification for the manufacture of fiberglass products advertised through sourcebooks, namely archit Sourcebook, Furniture sourcebooks, building sourcebook and engineering sourcebooks, ads are given in these, which is distributed monthly to the existing number of customers. Fibretech advertises through these magazines where ads are given and the customer is briefed about a list of upcoming products. Building sourcebooks basically advertises for products that are used for constructing a building. Similarly Furniture Sourcebook advertises for furniture product thus this can also be classified as a way of direct marketing. This is the only direct marketing

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that is done by Fibretech. One more method commonly used at Fibretech is by word of mouth. They also give leaflets and brochures to their existing customers when they are buying any product from them to let them know of their product line and to keep them updated with upcoming events such as exhibitions which are held annually. Similarly to build public relations they display fibre at these exhibitions to promote their products. With their immediate target being multinationals, they try to save cost by not spending too much on advertising.

One can find more information about them on their website: www.fibretech.com.pk. A customer can always write to them through email or drop his suggestions on their website but not many know of the existence of their website due to their lack of advertisement. Fibretech management makes an extra effort to retain their customers by sending them greeting cards, calendars and letters on a regular basis to build a constant and direct relation with its customers. Fibretech basically advertises to its current customers instead of trying to reach out and make themselves popular among common man to gain more profits.

RECOMMENDATIONS:

Advertising helps a company reach its customers; there could be many ways to do so such as billboard advertising, giving commercial ads on television on channels which are commonly watched or simply by word of mouth. Fibretech believes to advertise through word of mouth. Advertising through word of mouth is cheap and efficient when dealing with existing customers but is not good enough to gain more customers or to gain the attention of common man. Fibretech should concentrate towards their advertising strategies in order to obtain further popularity.

Direct Marketing:

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Fibretech focuses on multinationals, banks and institutions thus it is important that organizations know of them and therefore fibretech should focus on direct marketing. Direct marketing or door to door service is another aspect Fibretech can work on as they make products according to the needs of their customers and thus they need to reach out to the customers thus a salesman or direct marketing can indeed be hugely profitable to Fibretech.

Public Relations:

One more important thing that fibretech can work on is public relations. Today the business world is such that the customer must be treated as a friend in order to gain profits from him, thus public relations are one area where fibretech is lacking.

One major reason most people haven’t heard about fibretech is that they don’t pay much attention to advertising. They basically focus on retaining their current customers by letting them know of their product line through letters, pamphlets and brochures, whereas it should focus on expanding their customers by proper advertising of their products through electronic media. This maybe a little expensive but shall help fibretech may gain popularity among common man which benefits the company in the long run.

Sales Promotion:

Another thing that they can introduce is offering sales promotion campaigns which may help them get rid of their products which are not too common to their customers, where as in exhibitions people may view them and order them later which ofcourse is possible if people know about the exhibitions beforehand. They can also get sponsors for such exhibitions which may help them cover the advertising cost and then they can also focus on advertising through billboards, which in Karachi, is a common method to spread awareness about companies and what they offer. Fibretech can also put up billboards in commercial areas where offices and institutions may take notice of them and it may help them get huge orders by these organizations.

Spreading Awareness:

Fibretech should look to open more offices or franchises in different areas of the city to spread awareness and be more accessible to its customers as they only have one branch in Defence Phase 2. The more the branches, the more the knowhow to the

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customer. Another way to be more close to their existing customer is by opening a Customer care centre, where they attend to the complains of the customers about their products or services.

planters Dustbins awnings coverings Security kiosk Other products

Sand Pot Shaped

Planters With Drain Tray.

Barrel Shaped With

Removable Top, Stainless

Steel

Window awnings

Swiveling Type

Block Design Magazine Stand

Round Cylindrical

Shaped Planters.

Kmc Type Dustbin With

Lid.

Deluxe awnings

Atrium Cantoment

Camouflage Design

Waffle Moulds

Round Cylindrical

Shaped Planters With Pvc Channel

Square Shaped With Swiveling Removable Top

Skylight Pyramids

A/C Shade With Drain

Tray

Square Shaped

Planters.

Barrel Shaped Fitted In 2 M.S. Pipes with Ash

Try

Car Porch Letter Box

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Term Report

Rectangular Shaped

Planters With Drain Tray.

Thai Design Barrel Shaped Dustbin With

Ash Tray.

Back Alley Industrial Trolley

Octagonal Shaped

Planters.

Car porch- Outside View

Advertising Panel

Pedestal Snake Bar Shade

Channel Fume

Scrubber-IIL

Corner Table Top

Sun Shade Lights Canopy

Oslo

Square Table Top

Others on their website

Others on their website

Others on their website

Others on their website

Others on their website

Street lights

Others on their website

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