Marketing Plan for Fumin Coating Glasses
Business Description
The project for Fumin coating glasses entails the use of Nano-coating technology that has been invented in Japan. This technology will be implemented in many buildings to provide solar shading in a way that is effective and environmental friendly at the same time. The installation of the Fumin coat will begin in June 2017 in Saudi Arabia and move forward to other Middle East countries until all countries have installed the Fumin coating glasses. This technology is aimed at making significant sales through the commercial installation of Fumin coating glasses in many buildings across all Middle East countries.
Fumin Coating Missions and Goals
The project aims at ensuring the installation of Fumin coating glasses in almost all Middle East countries by the year 2022. The mission of the Sunfreeze project is to ensure that buildings are Fumin coated throughout the Middle East to reduce energy usage in ventilation, lighting, and cooling. During the next five years, the project aims at achieving the following implementation goals:
- To start the project in June 2017 in Saudi Arabia.
- To expand the project into the eastern part of Saudi Arabia in the second quarter of 2018 and cover the western part in the third quarter of 2018.
- Move into the UAE (Dubai and Abu Dhabi) in the first quarter of 2019 and in Doha Qatar in the second quarter of the same year.
- Continue to all Middle East countries by the year 2021 and end in the last quarter of 2022.
Core Competence
The implementation of Fumin coating in the Middle East will be a first of its kind in this region. Therefore, the core competence of project Sunfreeze is unchallenged and will remain that way until the implementation of another project using a much sophisticated and superior Nano-coating technology that would obviously take many years. Furthermore, Fumin coating is a new technology; therefore, the marketing and sales team of Fumin coating is determined to educate the consumer on the value that Fumin coating brings and how environmentally friendly the technology is. Consequently, Fumin coating creates savings for the consumer due to its solar shading capability.
SWOT Analysis
The marketing environment for Fumin coating represents a broad variety of opportunities. Coupled up with the pioneering use of the new Nano-coating technology in the Middle East, the project is believed to reach maximum potential marketing and sales estimates that will ensure project successfully implemented and completed. However, we have conducted a SWOT analysis that will illustrate the strengths, weaknesses, opportunities and threats that are related to Fumin Coating.
Strengths
- The Project team understands the product and the target market. This is attributed to the fact that Fumin coating is a new technology that needs the use of highly trained professionals that understand the product and how or where it should be used.
- Fumin coating has great potential for sales, marketing, and growth in the Middle East countries and beyond.
- The project will be supplied with the technology from one manufacturer, which ensures maximum quality control.
- The quality of project installation is guaranteed since only highly trained project personnel are allowed to carry out the application of Fumin coating.
- Fumin coating can be applied to any type of glass.
- Fumin coat does not reflect heat and therefore eliminates the Heat Island Effect phenomena that highly affects urban areas (“FUMIN coating – Business – FUMIN Co., Ltd.”, 2017).
Weaknesses
- Fumin coat is expensive due to the fact that the new technology was revolutionary and has been patented in a few countries.
- Fumin coat can only be applied by trained professionals thereby increasing charges for application of the technology.
- The technology is still new on a global basis it; therefore, it needs reinforced marketing strategies that aim at creating awareness of the product to the consumers. This will help in making consumers understand the product, therefore, realizing the need for its usage.
Opportunities
- Since Fumin coating is a relatively new technology in the Middle East, it stands to have a lot of commercial potentials that can create a significant amount of revenues for the purpose of the project.
- The technology is environmentally friendly, and therefore, creates an opportunity for its adaptation by the environmental conscious segment of the consumers in the target market.
- There stands a potential for growth of the use of the technology in the Middle East and throughout the whole world.
Threats
- Consumers may not understand the concept behind the Therefore, the marketing team needs to keep the awareness high within target markets.
- There has been no established relationship between the providers of this product and the consumers thereby creating a high possibility of new entrants in the unestablished industry.
Competitors
The present situation shows that there are no competitors in this industry that is yet to be established in the Middle East. Furthermore, the technology is revolutionary, and there is no product in the market that can compete with this relatively new cutting-edge nano-coating technology.
Target Market
The target market for Fumin coating entails all the countries of the Middle East. Although this product has been implemented elsewhere in the world, it has not been introduced to the Middle East countries, and therefore this creates a suitable target market with a lot of sales and marketing potential that will the project is implemented successfully.
Marketing Mix
The following discussion outline some of the details for the proposed marketing mix for Fumin coating.
Product Strategy
The product is verified to be effective and environmentally friendly. Fumin coating has been successfully implemented in some countries including Korea, Japan, United States of America and China. The implementation of the Sunfreeze project in the Middle East will be of immense value to these countries as the product has a very high return on investments in a period five years.
Distributional Strategy
The project, named Sunfreeze, will be the sole operator of the implementation of the technology in the Middle East, and therefore, distribution will be carried out according to the specific objectives mentioned earlier in the marketing plan. Therefore, marketing will occur according to the project implementation plan on a country-to-country basis.
Promotional Strategy
- The project Sunfreeze will ensure the communication of the product to its customers and consumers in a variety of ways.
- There will be personal contact with the consumers to establish the installation of the technology on their buildings. The sales team will visit every building to make the consumer aware of the product.
- Public relations and sales promotion will be carried out to ensure the positive reputation and sales results for the product.
Pricing Strategy
As discussed earlier in this plan, Fumin coating is a very expensive product due to the revolutionary aspect of the product and the fact that it needs to be applied by highly trained personnel. However, the goal of the project is not to set high prices for the product, but to offset the high prices by offering complete installation and maintenance services for the entire period of the use of the Nano-coating technology. Therefore, the price will be inclusive of the labor and materials used for the installation. The high price of Fumin coating is not considered expensive due to its comparability with its high performance and cost savings in the long run.
Implementation Schedule and Monitoring
The project will be implemented in a span of five years in all the Middle East countries. Fumin coating in the Middle East will commence in June 2017, and process to other countries and end in the last quarter of 2022 as discussed in the implementation objectives of the project earlier in the plan.
Reference
FUMIN coating – Business – FUMIN Co., Ltd. (2017). Fumin coating. Retrieved from http://www.fumin.jp/business_en/
