New product/service development and marketing metrics - Term Paper Example

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NEW PRODUCT/SERVICE DEVELOPMENT AND MARKETING METRICS Table of Contents Table of Contents 2 Introduction 3 Market Analysis 3 Evaluation of Relationships and Processes 6 Marketing Metrics 8 Conclusions & Recommendations 10 12 References 13 Introduction Sasol Limited is a multinational public organisation which operates in the petrochemical and energy sector…
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New product/service development and marketing metrics
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Download file to see previous pages The company is headquartered at Johannesburg, South Africa, and was founded in 1950 (Yahoo Finance, 2012). This report entails introducing a product manufactured by Sasol into a new market. The report has been divided into three broad parts. Firstly, a detailed market analysis about the market facts and trends where the company’s product is suggested to be introduced for the first time has been discussed. Secondly, the key relationships between the buyers, suppliers and other key stakeholders involved in the process of marketing the product in the new geographical market in a profitable and effective manner has been included in this study. Lastly, some key measurement metrics have been discussed in this study, which can help to measure and evaluate the set objectives of delivering the product in the new market. At the end, some recommendations have also been provided for the company to launch its product successfully in the proposed new market. Market Analysis If we look at the business activities followed by Sasol Ltd. it can be found that the company is primarily engaged in the field of oil production in Gabon, gas production in Mozambique and coal mining operations in South Africa. The company has a network of 418 Sasol retail convenience centers through which its fuel products are marketed all over the world. The company’s revenues are generated through four business segments. They are: a) Energy cluster of South Africa, b) International energy, c) Chemical cluster, and d) Others. In order to achieve the objective of this study, one of the products produced by Sasol that has been chosen to be offered in a new market is the wax and associated products produced by Sasol Wax. Sasol Wax is considered to be a market leader in the field of supplying liquid paraffin, petroleum jellies, and waxes all over the world. These products are mostly derived by Sasol from the feedstock of Fischer-Tropsch and Oil Refinery (Sasol, 2012a). Next, the new geographical market that has been selected for introducing this product is in the country of Vietnam. The business operations of Sasol are carried out in the Asia-Pacific region through its regional offices located at New Zealand, Australia and Malaysia. Wax related products are manufactured and marketed by the company in the speciality and commodity wax market worldwide (Sasol, 2012b, p. 105). However, it has not marked its presence in Vietnam as yet. Hence, it can be a great opportunity for the company to capture the Vietnamese market and add to its profitability. The core idea of this study is to assess the strategic alternative of Sasol to explore and analyze the feasibility of introducing an existent product of the organisation into a new national market, i.e., Vietnam. Hence, before analyzing this strategic alternative, it is required to identify and assess the internal and external environmental factors that can create a sustainable opportunity for the company to introduce the proposed product in the new market of Vietnam. SWOT analysis can best serve the purpose of assessing the existing internal strengths and weaknesses and external opportunities and threats of the company that can be helpful in identifying the competitive advantage that can be gained through entering into a new market (Griffin, 2011, p. 68). The SWOT analysis of the company is presented in the table given below: Strengths Weaknesses ...Download file to see next pagesRead More
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