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Marketing Plan of NCX Myanmar Co., Ltd. essay example
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Marketing Plan of NCX Myanmar Co., Ltd.

Executive Summary

NCX Myanmar Co., Ltd. is a trading company since 2012 in Myanmar. It trade one of the Motor Cycle brand HONDA, which has many kind of model, it was decided to conformable the Asia’s motor cycle market. Such as Wave 100, Wave 110, Dream 125, Click Idling, Click Racing, Scoopy, Scoopy Fashion, Scoopy Prestige and Moove. HONDA can complement with various types of motor cycles because this product is composed of a unique of advanced technology and design which are available in the Myanmar market at value added price. It targets to segments for the end user and business market, the advantage of products is a global standard, it has strong and resistance engine, which has fuel saving feature and it, contributes attention to the protection of environment.
Base on the marketing objective to achieve is first year Myanmar market share’s 20 percent with unit sales of 50,000. The financial objective is to achieve first year sales revenue of MMK75 billions, expected loss may less than MMK15 billions.

Situation Analysis

NCX Myanmar, observed 2 years ago by
Marketing Vision and Objectives
“We will develop into the model enterprise to represent the country by providing products which make customers happy”
NCX Myanmar, authorized distributor meets to potential business to business marketer
NCX Myanmar Company initiated and inspired its strategy to introduce motorcycles in the market. The company is also going to establish new sales centers and appoint dealer in Myanmar country’s capital and provides the large numbers of motorcycles in the market. The company will penetrate the new markets, from where they can get good revenue over their motorcycles and get good market share of their products.

Marketing Mix

Product

HONDA motorcycles, including all the features described in the earlier product review section and more, will be sold with one year warranty and kilometer 10,000 free services. It will introduce the HONDA motorcycle during the following year, after NCX Myanmar established HONDA brand.

Place

Motorcycles of the company are distributed to the market through alternate dealers, who are doing business in alternate places. The company has served to its dealers and it supplies motorcycles normally to the demand of the dealers. The customers come to make a round of visits the nearest sales center of the company and they watch for the new model of motorcycles there.

Price

HONDA is the most strongly trusted brand in the motorcycle market and it has great reputation over its products. Company keeps its motorcycles in higher value which are also arranged for their customers’ convenience. The pricing strategies include the manufacturing cost, trading cost, tax amount and other expenses are also, which can make it great value and the good features of the motorcycle will also give fine cost over this motorcycle.

Promotion

NCX Myanmar has great promotion strategy and effective advertisement policy of their products. Update information is shared to their customers timely and come along in both electronic, printing media and social media, which also carried out for popularity of the motorcycles. It also sponsors too many kinds of activities and events to promote the brand image are informed to the users.

SWOT Analysis

A. Strengths
• HONDA is leading the motorcycle market, which has prepared the motorcycles and other brands and sold to more than 100 countries around the world.
• The company gives attention of the products and it also gives well after sales service to its customer.
• It has good performance in engine manufacturing company’s core product.
• HONDA is good brand equity and creates loyalty among the users.
• Existence as strong position in the Asia’s motorcycle market.
• Overwhelming motorcycle and engine industries lead to great brand awareness.
• While buying, it includes the Road Transportation Administration License.
• Sales centers locate over the whole Myanmar country.

B. Weakness
• HONDA is costly and it channels to the high class and middle class, so it’s not inconvenience for the lower class.
• It requires a deposit for hire purchase of installment.
• Gray market of HONDA is very cheap.
• Spare parts are more expensive.
• Yangon is a prohibited area of the motorcycle.

C. Opportunities
• Product Innovation
• HONDA should persuade its products and strives to appear as a global leading brand.
• HONDA should manufacture eco-friendly low emission vehicles, which aware impact to the environment.
• HONDA should drive its motorcycles market and improve the production.
• New model releases on time.

D. Threats
• Economic is slowdown in Myanmar.
• Various brand of the motorcycles lead in the market, which they have developed of their technology which are the pure threat for the HONDA.
• Imported cost of the competitors brand is lower.
• The government changes to their policies, regulation and taxes, etc.
• Due to the high price of motorcycles and fuel prices, so its delivery price also high.

Competitions

The emergence of good features and technology, including the YAMAHA, has increased the competitive pressure. Competitors are constantly adding features and sharpening price points. Main competitors are:
YAMAHA : YAMAHA is a good brand name; it is one of the bike companies in the Myanmar market. Bikes are available at affordable price and it is innovative products of brand, its gives the neck to neck competition.
Bajaj : Comparing to the Myanmar’s market the Bajaj’s has good competition with their high CC brands to the Honda.
TVS : Comparing to the HONDA, TVS has the good market coverage and sales is more so they are strong competitor and HONDA should compete them.
Kenbo : It is trend to the middle and lower class users, it leading the China brand market in Myanmar country.
Although strong competition, HONDA can carve out a definite features and gain recognition among targeted segments. HONDA appealing combination of the features and affordable price is a critical point of a differentiation for competitive advantage. Second will be even more media oriented to appeal to segments where we will have strong brand recognition. Such as Lucky Draw, Incentive to the users.

Products Offering

HONDA has the following standard features:
Look : Have an owner pride and viewer delight.
Engine : High performance engine, comfort to the rider.
Fuel System : Fuel injection system certainly best fuel consumption and better fuel efficiency.
Brakes : Anti-lock braking system and effort to increase safety.
Handling : Generally lighter than other brands.
Power : Its engine generate the bike a higher capacity rather than all other brands.
Speed : It is ever the fastest motorbike that user can believe at all.
Comfort : Concentrate on seats and handle grips for comfortable riding experience.
Cost Efficiency : It ensures the best performance for a long period and minimizes the maintenance cost.

Distribution

NCX Myanmar make distribution through the network of sales center and dealer in Myanmar market, it provide delivery to that place. If any remote places where can’t reach easily, paid MMK 15,000 to dealer instead of delivery.

Marketing Strategy

NCX Myanmar have strict objective for the first and second years to enter the market.
1st Year Objective; NCX Myanmar hope 20 percent market share of the Myanmar motorcycles market through unit sales volume of 50,000.
2nd Year Objective; If the dealers achieved, attract them with incentive, oversea trip and so on. Then set to increase sale volume up to 10%.

Gray Market

Gray market selling the trademark goods and products by unauthorized organization or person which have been imported from other ways (border trade). HONDA original parts obtain maximum performance and safety, if they are installing together. HONDA Company Executives strongly discouraged on fake or gray market goods even though they match with original products. HONDA gives the parts replacement warranty only for ones bought from an authorized dealer and will not take any responsibility in using of goods from gray market caused any cast.

Target Market

HONDA is the reputable brand name and it has created good image among the users. Motorcycles are not good for the city like Yangon but in rural areas due to its strong and sustainable designs and structure. The people living in remote areas will prefer to buy this motorcycle to cover long distances on this and it will be target for this vehicle.

NCX Myanmar’s strategy is based on a positioning of product differentiation. This primary consumer target for the HONDA is middle to upper income professionals who need for their busy schedules, family and colleagues on the go. Secondary target is colleague students and graduate students who want a brand product. HONDA is preferred by young generation by age (18-40) years and focus on selling for those.

The primary business target for the HONDA is mid- to -large size of corporations and overall cities in Myanmar country.

Product Differentiation and Position

HONDA is wider range of motorcycle models as this brand has been preparing the latest models of motorcycles every year. Many kinds of new features are added in the new model and give it client to meet their expectation. It explore as a leader in the automobile market by attracting their client.

Market Communication

By integrating all messages in all media, it will reinforce the brand name and the main points of product differentiation. According to the research about media will help to advertising agency choose appropriate media and timing to reach prospects before and during product introduction. Therefore, advertising will appear on a pulsing to brand awareness and communicate various differentiation messages. This is will also coordinate public relations efforts to build the HONDA and support the messages. It will host a user-generated video contest on the Website. To attract, retain, and motivate channel partners for a push strategy, will use trade sale promotion and personal selling. Until the HONDA brand has been established, this communications will encourage purchases through channel partners rather than from Website.

Marketing Research

Operational research, “the number of registered motorbikes nationwide has spiked 119 percent from 2011-12 to 2014-15, a promising sign of economic growth”, according to the New Crossroads Asia’s latest monthly report. “The motorbike market is growing because the income of people, especially rural areas increased over the past few years” (Myanmar Times Journal-October 2018)
NCX Myanmar also measuring and analyzing the customers’ side toward competing brands and products. Brand awareness research will help to decide the effective and efficiency of the messages and media. Finally it will use customer satisfaction studies to scope market reaction.

PESTEL Analysis

HONDA is a multinational brand but influence by the below PESTEL factors.

Political Factors

Political factors involved in recruitment law, trade and domestic trade administration and taxation. Political factors will be influencing the innovations policy directly. One of the cities (Yangon) is prohibited area for ride on motorbike. And then higher rate of license fees for Road Transportation Administration.

Economic Factors

The exchange rate of United State Dollar and Myanmar kyat are not stable always, its effects the price of HONDA motorcycle. To cope up with the economic trouble that world is facing. Its might suffer a lot in the coming years, its growth will limit because of the petrol consuming vehicle. However, the company mainly relies on the exchange rate which needs to be stable otherwise it will affect the price of motorbike.

Social Factors

The social factors affecting the motorcycle company involve the cultural and demographic function of the external large environment. HONDA deals the English language obstacle and spread worldwide. According to the customer demand, HONDA creates and renovates personalized motorcycle design. The raise in the desire of city cycle has encouraged HONDA to distribute low rate of cycle such as HONDA Wave 100.

Technological Factors

The factors that affect HONDA regarding technology shows how to the trend helps in the business. To fulfill the need to keep the environment safe, HONDA has developed technology, which is followed by their engines. HONDA is quite efficient and eager in advancing its technology in safety measure. It’s innovating technologies benefits its users and increase its sale. The best future investment of HONDA is combination of economically fuel and environmental friendly technology.

Environmental Factors

Motorcycle engine rely on the climate changes, For example, in hot weather they tend to heat up quickly and in a cold weather they tend to face difficulty while starting. HONDA produces the engine compatible for each environment of the country to solve this problem. HONDA has manufactured different engines for different region to resolve this issue.

Legal Factors

Government laws have wide impact on the HONDA, it need to focus on the pricing policies, must propose the reduction on motorbike which helps to confront the competitor and allow generating more sales. Government’s law and legislature has a vast impact on the action of HONDA such as asking for payments from suppliers and changing agreed upon prices with or without notice. The government enacted a law to be a safety work place of the company. They cope up with issues like reporting, accident, training and the safety equipment to its employees are secured.

Porter’s Five Force

HONDA is a leading product in the motorcycle market. Its brand is also known for extensive supply chain and distribution network. HONDA is poised for speed growth by investing in innovation and sustainable technology. Michael E Porter’s five forces model is an important tool for analyzing the competitive strength of any brand and how strongly it is positioned in the industry against competition.

Bargaining power of suppliers

HONDA has worldwide supply chain and distribution network. HONDA motorbike is made of 15,000 to 20,000 parts. The brand has formed long term partnership with several suppliers, who can supply good quality of products to build its vehicle, despite the large number of supplier; it is HONDA that holds the higher bargaining power. The bargaining power of its supplier is low because they are scattered all over the world and do not hold sufficient financial strength. In addition, HONDA has own brand image and trust which can make a powerful HONDA and give the bargaining strength.

Threat from substitute products:
For Honda, the threat comes from substitute products is medium. Addition to other competitor brands, there are also public transport vehicles acting a substitute instead of Honda. Like brand image, marketing capabilities, wide product scope, and customer trust ad loyalty can moderate the threat from substitute products. Therefore, the threat from substitute products remains moderate by the above factors.
https://www.cheshnotes.com/five-forces-analysis-of-honda/

Threat of New Entrants

New entrance to motorcycle business, major changes, new ways of doing things and put pressure on HONDA motorcycle through lower pricing strategy, reduce costs and provide new value propositions to the customer. NCX Myanmar has to undertake all these challenges and build effective barrier to safeguard its competitive edge.
http://fernfortuniversity.com/term-papers/porter5/analysis/682-honda-motor-co—ltd-.php

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Bargaining power of Customers

Customers are often requiring a lot. They want to buy the best offering available by paying the lower price as possible. This pressure is on HONDA profitability in the long run. The lower and middle customer primary is of HONDA, the higher the bargaining power of the customer and higher their ability to seek increasing discounts and offers.

Rivalry among the existing competitors

The level of competitive rivalry among the existing players is very high. The rivalry between the existing competitors is absolutely high. The small quantities of global competitor carry on their big brand’s portfolios and invest significantly in the marketing, promotion and research areas. Future brand will develop the best technologies competitively against the factors effect on brand’s competitive advantage.

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