Marketing plan for led lights assignment
Marketing plan for led lights assignment
YJM Light Co. , Ltd. is capable of manufacturing lights in a very large scale and supply in the shortest period of time through its distributors. With an annual sale of about 100 million USD, YJM Light Co. , Ltd. has reached customers from all over the world. Different countries from six continents are being served by YJM Light Co. , Ltd. To appreciate the effort of this company, Hong Kong young Industrialist Award was awarded to the president of YJM Light Co. , Ltd. Mr. William. IV. Current Marketing Situation There is a global concern to save energy and be more environment friendly now-a-days.
Incandescent and fluorescent lights consume a huge amount of energy compared to the light they emit. Average incandescent light only emits 4% of the energy as visible light while fluorescent emits 26%. LED light gives a fine solution to this problem. Though the initial establishment cost is a bit high, LED light is more energy efficient and has a much longer life span. Even though LED light is a very new technology and it is rather new in the light market, it has drawn attraction of a lot of customers. Hong Kong MTR (Mass Transit Railway) has already opted for LED lighting.
Company| Opportunities| YJM| * Continuing Energy-saving as LEDTube * Online opportunities worldwide * Government policy support * Project case as school and hospital * International and off-line exchange programs * Becoming a leader in LED tybe and lighting. | Hubei Kento| * Have patents have been authorized by China Patent Bureau. Highly specialized workers * Expanding LED market * Scope for innovation in existing market| Ligitek| * Project case as school and hospital * Highly specialized workers| EFFLED| * More conversations and partnerships with local employers * Have patents have been authorized * Developed a wide range of LEDs * Most advanced technology and equipment| Company| Threats|
YJM| * Domestic market purchasing power of customer * Staff for genuinely better opportunities at other Lighting company * Growing competition from nearby LED Company| Hubei Kento| * Growing competition from nearby LED Company * Risk of losing prominent faculty| Ligitek| * Growing competition from nearby LED Company * Small privates international trading company * Retention of key staff critical * Vulnerable to reactive attack by major competitors| EFFLED| * Growing competition from nearby LED Company * Small privates international trading company| Indirect competitor
Colder light| * LED lights may come in many colors * Radiates 5 times less heat than CFL * 6 times longer life than CFL 10-15 times more than Incandescent * Flexible size and shape * CE, ROHS, UL| Public works| 1. Long life span (reliable) 2. economic 3. environment friendly 4. Efficient 5. Quick delivery 6. safety| * 6 times longer life than CFL 10-15 times more than Incandescent * Contains no hazardous materials like Mercury in CFL contributing to easy disposal after use, and radiate less heat * CE, RoHS, UL| Interior Designing Companies| 1.
Safety 2. Environmental friendly 3. Multi-color and beautiful 4. New, fashionable and trendy 5. Comfort of the customers 6. Economic| * Colorful lights * Fashionable and trendy * Multi reflector light sources * Can be used in a variety of fixtures with a lush and stylish decor create * Better than the incandescent or fluorescent lamps * Suitable for both indoor and outdoor * Can be used in all area in the house(dining room, living room, bathroom) * Change the atmosphere in particular room * Cool light(save to touch)| VI. Marketing Strategy
And therefore, it is suitable for the use of public works which requires a long life span of lighting product to install in a building for a long period and hence it is money saving due to long life span of products. Safety For the segment of real estate and interior designing company, they require a safety LED tube for them to installing in their designed products and as their designed product are used in home or place will easy contain people so safety is the highest consideration of them.
As our product already have CE certificate which CE Marking on a product is a manufacturer’s declaration that the product complies with the essential requirements of the relevant European health, safety and environmental protection legislation; and UL certificates, all of them can prove that YJM can supply excellent quality and safety for our customer, Augmented product
In the Government Logistics Department (GLD), we can apply to become a GLD Supplier, who can bid the government major purchases (lighting system). GLD will depend the tenders of suppliers for the procurements. GLD will post their needs on the website and collect the tenders from the suppliers. By the way, GLD have a plan was called Green procurement. They are welcome the supplier which can help them to keep the green procurement policy since our LED tubes are reliable and more saving at electrical bill. We can provide a special discount since they have a great order. * Bidding * GLD bidding is a closed bidding. And also GLD also required signage product, therefore we can also supply to company who will get the contract from government.
It is because mostly the lower price tender will win the contract we can supply a lower cost LED tube for their light support installation which the contractor may gain more benefits on their job. Since the products are lower product life cycle. Government would accept the price is lower but the replacement of signage product will be short time (1 year). Therefore we can keep it as a long relationship with the contractor. Interior Design Companies Nowadays, LED tube is decoration is very common in foreign countries. LED Light are very entreating to the interior designer, architects and their customers cause placing light in one direction for LED light tube is better than the incandescent or fluorescent lamps.
The HKTDC Hong Kong Electronics Fair will hold in every years, this fair is a very useful part of the marketing strategy for our products. First, there are many companies from different countries, we can present or even outstanding our new products and also keep an eye on what is happening in the market. Moreover, there is an opportunity for us to look for new buyers from everywhere and meet with our existing buyers to help than ever before, especially the buyers from illuminated sign manufacturer and real estate and interior designing company. In addition, we may have speeches during the exhibition to promote our products. Web site promotion:
In the recent years, internet becomes one of the main promotion ways. Especially the promotion for some real estate and real estate and real estate and real estate and interior designing company, using the web site is a good way to promote our product. Web site promotion is an activity directed to improve appearance of our web site in search engines by thematic requests of users and as a consequence to increase the amount of attendance number of the website from search engines. Therefore, we can be a much more well-known company. Personal selling: Personal selling is the process of communicating with a potential buyer face-to-face with the purpose of selling a product or service.
Exhibition: | The cost for conducting or organizing any promotional campaign or activity in any media| Catalogs:| The cost for printing all catalogs, promoting materials or any advertising materials| Websites:| The operating and maintenance cost for our company website| Training:| The cost for internal training of our staff for sales technique or updating their knowledge of our products| VIII. Controls If one of our long term business customers who seemed happy but suddenly stopped doing business with us, obviously something displeased them. It may be our customer service, out product quality or our staff’s attitude, perhaps. A majority of unsatisfied customers never complain. Due to it takes effort on the part of the customer to draft a letter of complaint or to phone in to voice displeasure.
The easiest and most effortless way is to move on and never do business with us again. So we need to know our customers are happy or not when having business with us. And that information is important for us to mark improvement. The one easy way to do it is by seeking customer feedback. Even customers who are reluctant to make complaints will fill in forms anonymously. Send out a feedback survey asking customers, whatever long-term business customers or new customers, questions that could reflect both positively and negatively. We should always include an open-ended question at the end, asking them if they have any additional comments or suggestions to make. This will give them a chance to voice any ispleasure or come forward with truly constructive suggestions that could help our business. Once we have asked these questions and received the answers, we need to take action. Use the feedback forms to improve our business. The customers are the only reason why we are still in business, so satisfying them will ultimately make our business more profitable. Moreover, the most important is sent a response to every person who has given us feedback, acknowledging their views. It would show them that we are caring about their feedback and their feedback is important to us for improvement. If we are able to take action based on customer feedback, let the concerned people know about it.