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Write a 6 page essay on Marketing strategy:marketing of SANYO 'AQUA' washing machine in the nigerian market.In order to determine whether the Aqua washing machine has the potential to succeed within t
Write a 6 page essay on Marketing strategy:marketing of SANYO 'AQUA' washing machine in the nigerian market.
In order to determine whether the Aqua washing machine has the potential to succeed within the Nigerian market, it is essential to find out some of the competitive challenges that the company may have to tackle. Michael Porter identified some five forces that should be analyzed and they are enlisted as follows (Porter,
1980)
In terms of competition, Sanyo will have to deal with international companies such as LG and Samsung in order to create value for their money. Most of the problems arise out of the fact that these companies have experience in selecting washing machines. Additionally, some of them also have innovative ideas. In order to counter the effects of these companies, it will be essential for Sanyo to boost their marketing strategies. (Porter, 1980)Additionally, the company will have to employ some of the innovative ideas that have previously worked in other parts of the world. On top of this, it will be essential for the company to understand that customer service is an imperative part of dealing with competition. They need to train their employees to handle these consumers. (Brandenburger and Nalebuff, 1995)
Industries that are susceptible to threat of new entries are those ones that operate in environments that require minimal investments in capital and low cost of leaving the market. However, because the electronics industry requires heavy investment in capital and also because costs of exiting the industry are rather high (manufacturing equipment is sold for much less value than it was bought) then this is not a very big problem for the Aqua machine. (Porter, 1979) Besides that, the company is also not likely to meet increased competition from other entrants because they have the benefit of larger economies of scale which they have established over the years. This will allow them to save and the savings can then be transferred to the consumer who can pay less for his
