Market Analysis Report Of Makita Brand Of STO †Free Samples

Question: Discuss About The Market Analysis Report Of Makita Brand? Answer: Introduction Makita brand from STO has been a leading player in its offering of tools. The cordless and corded tools with a wide range of solutions offered in in the industrial and construction purposes. The establishment of organization was coincided by the various initiatives that were taken at the enhancement of Makita brands too. The Maldivian economy has been witnessing greater success attributed to the growth and the potential available in the market for Makita tools. The fueled commercial activity has been a plus point for the economy and has been favoring Makita brand too in developing a positive environment. STO group along with its various subsidiaries is set for a new focus even in the other industries. The Report presents feasibility with the analysis done to understand the potential and growth for Makita brand of STO Marketing Environment Analysis: Political Factors: The political situation for Makita brand in Maldives is not too favorable with the instability in the current government. The organization will have to strive hard to combat the situation and establish the brand. For the cooperation from governments end, the company can expect leverage (Lau, G.T., 2016; Fallati, L. et al., 2017; Dransfeld, B. et al., 2015). Makita tools have established itself in the market with the home and electronic brands it is catering to. The target segment too for Makita is wide (Makita, 2017). The political conditions in the country may not be really advantageous for the group. Economic Factors: The economic development for the company rests on the economic conditions that are prevalent. The economic conditions associated with the employment and interest rates in the country have been favorable enough to accommodate the interests of organization and for it to market the Makita brand under its kitty (Lau, G.T., 2016; Fallati, L. et al., 2017; Dransfeld, B. et al., 2015; Makita, 2017). The consumer optimism (Figure 1) is strong too which tends to be beneficial for STO (STO, 2017). The spending power of the consumers has gone up over the past years and the economy is trending towards an upward direction increasing the feasibility status too. Figure 1 Consumer Confidence Level Social Factors: The social factors that attribute to the success of Makita brand are the prevalent benefits that are available to the workers and the efficiency of the individuals serving the organization. The organization has retained the consumer confidence levels with the effectiveness in the management and the enhanced vendor relations (Brown, C.J.et al., 2014; Geldmann, J.et al., 2015). There are various channels that are available to market Makita tools which aid in the marketing of its products and this gives it an advantage over the competitors existing in the market. Technological Factors: The leading trading company has the state of art communication technology set up. The effective trade for the organization has not been a challenge and it has been successful in utilizing the strengths available to it (Brown, C.J.et al., 2014; Geldmann, J.et al., 2015). The technology available in the country too is favorable for Makita brand working environment. It has been a national leader in the business and the focus interest being on the construction materials along with electronics and supermarket products has given it an edge over others (Brown, C.J.et al., 2014; Geldmann, J.et al., 2015). Legal Factors: The legal factors prevalent in Maldives with the situation that is suitable for organization operating at the level (Majeed, A. et al., 2016; Tupper, M. et al., 2015).The ongoing and upcoming projects too have a future for the demand of Makita tools (Makita, 2017). The factors attributed to trade for the organization do provision greater opportunities too. Environmental Factors: The increased commercial activity booming in the country has made it easy for STO to bring about a wide variety of products and the brands from Makita (Majeed, A. et al., 2016; Tupper, M. et al., 2015). There has been enhancement in the other activities in trade and the country is seeing the rising need of fishing, agriculture along with the enhancing construction industry. The products of Makita from STO has increased demand can be attributed too (Majeed, A. et al., 2016; Tupper, M. et al., 2015). The demand of Makita Products has been growing with the greater contribution from the power tools garnering the maximum share (Figure 2) Figure 2 The suppliers for Makita brand with the wide range offered by Makita constitute Grainger, Toolbarn to STO. The competition for Makita brand from State Trading Organization has been from the organizations with the establishment of the similar businesses in the region of Dubai and China. Although there are greater opportunities that lie for Makita, the hardware and construction materials have been having some equity partnerships too and the competitors are only growing at the international level but not in the domestic front (Majeed, A. et al., 2016; Tupper, M. et al., 2015). The corporate strategies and the aggressiveness of the management in dealing with the competitive environment have been remarkable which is benefitting the organization to stay put and operate at the current levels. The market potential for Makitais huge. The brands under its kitty have been expanding over the years (Majeed, A. et al., 2016; Tupper, M. et al., 2015; STO, 2017).. The Makita brand serving the construction industry primarily and also deployed in the industries has aided it to have an edge over the competitors trying to establish. The Makita hammer drill has been in great demand too. Considering the buyer requirements, STO has been an organization that well caters to the construction and agriculture industry. With the contribution in terms of the effectiveness it has garnered over the year with the Makita brands in the market, the organization has been able to cater to the increasing demand pertaining to the use of industrial products - hammers, wall chasers, hammer drill and combination hammer amongst others (Itoh, T. and Kakefuda, S., 2016; STO, 2017). The Makita brand has been increasingly demanded and proves to be effective while serving the industrial needs in the society (Hawkins, T.G. and Muir, W.A., 2014; Hassan, M.R. et al., 2014; Wu, C.W et al., 2015). Review of Marketing Selection, Targeting/Positioning and Crucial Marketing Decisions The market share for Makita has been able to garner gives a positive picture of the market selection. While catering to the local households along with the neighboring countries, the organization has proved success in the trade (Itoh, T. and Kakefuda, S., 2016; STO, 2017). The islands nearby have the support and presence felt of products from the Makita brand. The focus is on the construction industry and with the expansion of the market globally, Makita has a great potential. The home improvement market has been growing at the international level and the demand per se with the presence of various regions has given the company an opportunity to cater to the market with the products (Itoh, T. and Kakefuda, S., 2016; STO, 2017). The Makita brand has diverse products too. The Makita wall chaser offers as the great cutting tool and is required by most of the industrial units and construction companies. With the booming presence of the market with the skilled labor available, STO has been successfully managing the array of products from Makita brands which fall under its umbrella. The Makita hammer drill is ideal for the use by professional tradesmen. The capacity in wood for the product is up to 30 mm and the power requirements too for the products is up to the standards as required in the market (Itoh, T. and Kakefuda, S., 2016; STO, 2017). STO has been targeting the various industries with the marketing of Makita brand. The company has been successful in reaching the islands and catering well to the domestic market too (Dolnicar, S. and Leisch, F, 2017; Makita, 2017). The international presence has been well established with the business scenario turning to be favorable for the organization. The company has well positioned itself and while catering to the various segments into the market, the consumers of the various brands has been growing (Dolnicar, S. and Leisch, F, 2017). The established brand Makita Combination hammer is used for the enhanced productivity in hammering and rotating. The capacity available for the product with the fastening torque proves to be advantageous too. Identification of Proposed Decisions Along With Feasibility Considering the perspective from the marketing, customers and economic perspectives, Makita brand is well identified the proposed decisions associated with the well-built technology in communication arena. The organization has been operating with greater scalability with an offering to customers and the wide number of brands that it trades in. The consumer household market is being targeted by the organization and the demand spurring worldwide has given it the benefits of greater margins. Based on the data collected, the outdoor equipment and corded and non-corded equipments from Makita cater to a wide segment and needs in the market. With the majority share in the home improvement items required are being offered by the brand. With the organization required to regularly conduct surveys basis the understanding of demand for the products (Zhu, X., Lane, R. and Werner, T.T., 2017), the benefits are significant. Modelling in-use stocks and spatial distributions of household electronic d evices and their contained metals based on household survey data (Makita, 2017). The effectiveness of consumer purchase is considered to be a crucial area in their business. Makita brand from STO have the reason to be purchased due to the optimum quality levels and well serving the market and consumer preferences. The focus has been largely on the need of the consumers (Zhu, X., Lane, R. and Werner, T.T., 2017). Identification of Proposed Decisions Recommendations The proposed decisions as well identified for Makita brand include the supporting of the organization to the socio economic development. With the reliable supply to the consumers of the products, the affordability of the price needs to be considered as prime mandate. With the focus of the organization on expansion in the arena of trade and storage, it is evident that the the business motor tools have been witnessing greater demand in the society. While meeting the demands of the construction industry, Makita products cordless and corded have been growing with the rise in demand for construction across the globe. The establishments of the preference on the brands which have greater margin need greater focus too. The efforts to retain the market share for Makita brand is essential are also embedded with the well understanding of the needs of the consumers (Salib, J. et al., 2015; Suliman, A.M. et al., 2016). The competitive environment of machine tools is increasing for the organizati on and the global presence of competitors have to be well attended with the focus on efficiency and quality deliverables (Salib, J. et al., 2015; Suliman, A.M. et al., 2016). The examination of the consumer products and the need in the developing countries has to be well planned and adhered by the group. Considering the support available from government and the nearby islands, STO can also resort to various initiatives taken up in the nearby market in marketing the brand. The understanding of the perception of consumers and judging their needs can be well done with data segmentation and survey reports. There has to be greater deploying more resources in the development of effective marketing analysis and utilizing the same in arranging the various products of Makita basis the preference. The importance of the brand and the products catalog has to be readily available. The same can be well organized and the identification of adept technology in streaming the videos for the products c an be organized. Artificial Intelligence is a key suitable area and marketers across the globe are utilizing the strengths of augmented reality for the various products of Makita brand as part of the offerin References Brown, C.J., Saunders, M.I., Possingham, H.P. and Richardson, A.J., 2014. Interactions between global and local stressors of ecosystems determine management effectiveness in cumulative impact mapping.Diversity and distributions,20(5), pp.538-546. Dolnicar, S. and Leisch, F., 2017. 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