Introduction of Group Project - Essay Example

Introduction of Group Project School or Introduction of the Group Project COMPANY, OFFERING, AND TARGET MARKET Teijin is an organization that was established by Itsuzo Hata in 1918 as a maker of rayon. Since that time, they developed into a manufacturer of synthetic fibers. Currently they are a comprehensive enterprise with four pillars that include the production of high-performance fibers and resins for the materials industry, electronic materials for the chemical products industry, the health care industry, and the information technology sector. Part of Teijin involves B to C business, but the largest portion of their sales comes from B to B business. “Human Chemistry, Human Solutions” is brand statement of this company and core competence of this group is to develop innovative product and service by focus on technology, healthcare, and IT by overlapping business domains to create unique value for the market (Raad et al,. 2007). Teijin announced the new product release name of “Surfaced-based Authentication Beacon” developed with TAGCAST Inc. that provided GPS technology and the product is the combination of technology for 2-dimensional communication sheet ”Sell from” developed by Teijin and Bell cross and beacon technology of TAGCAST. The tag uses low-energy short-range communication (Bluetooth LE) and has the technology to send handset and location information. Teijin combined the 2-dimensional communication sheet, “See form” (developed by Cell across) and TAGCAST’s “TAGCAST” beacon technology to create Paper Beacon, which allows surface authentication that, can be used like NFC and is the first such product in the world. According to ABI Research, over 60 million beacon units are expected to ship by 2019, and Google and Apple are expected to focus on system development for five years. Also, according to a Gartner survey, the IoT market (including Beacon) is expected to exceed $300 billion by the year 2020. In this market environment, this new Paper Beacon technology will indeed provide value and solutions to the industry in the years to come. Teijin also prospects delivering 10,000 sheets in the first fiscal year. This unique and extraordinary technology will provide realization to offer particular information only for the consumer that authenticated by the device that not available to past technology. Potential target industry, market, and the customer is diversified that required personal identification like restaurant or dining, school, and government, manufacturer, hospital, or any company that offers service in public space. (Raad et al,. 2007) And this product is like paper and adaptable any shape or size to customizable for customer requirement and deliverable any type channel and service by the tailor-made solution. NAICS and B to B Characteristics, NAICS code relevant to the project would be, NAICS 517210: WIRELESS TELECOMMUNICATIONS CARRIERS (EXCEPT SATELLITE) This industry includes establishments engaged in determining and maintaining switching and transmission facilities to provide communications via the airwaves. Establishments in these manufacturers have chromatic spectrum licenses and provide services using that spectrum, such as cellular phone services, paging services, wireless Internet access, and transatlantic video services. Also, these affiliated products and peripherals’ solution (Adopter, Connectors, and Cables or so), partner and group companies which have following NAICS codes, would have correspondence for the profit of new products (Raad et al,. 2007). NAICS codes: 334290 Other Communications Equipment Manufacturing. Definition of this industry is that “comprises establishments, not classified to any other industry, and primarily engaged in manufacturing communications equipment.” Statistics of NAICS code 334290 for 2012, 2007 and 2002 is as follows. B to B characteristics of the project: Customer: The target customer of this project is cooperation of other industry, sector or some other organization like school or government. And the potential of our product are diversified and so it will be available to develop collaborating suggestion by tailor made the solution provide befit rather than the individual customer. Buying Behavior: Product specification and price are negotiated on a person-to-person basis. Our product doesn’t work only sale this material and cooperative system solution effectively will be help to maximize product characteristic so buying behavior of this product required organizational decision to change the platform or their service or operation rather than individual decision to use personally. Buying Relationship: This would be close relationship due to product features. We need to design our products to meet the customers demands or needs. Thus, we need to establish close customer (buyer) relationship to let them make a decision. Product: Our product will be tailor-made to meet the unique customer needs, and its design, system, and technology will be complicated, and it would not be standardized one. Price: We dont have any fixed price. We will offer the price based on the negotiation, and the price will be ranged per each developed products to meet the customer needs. Promotion: Promotion would be the mix of mass promotion such as advertisement and personal selling approach. Buyer will not be able to make a decision for buying only with mass-promotion since they will need to know how it will be designed to meet their needs. Mission and Long-Term Goals BRAND STATEMENT: "HUMAN CHEMISTRY, HUMAN SOLUTIONS." Teijin President and CEO Mr. Suzuki had the following to say about Teijin’s vision: “The Teijin Group will continue to create and provide value by focusing on technical innovation that leverages our strengths in high-performance fibers, healthcare, IT, and the fused regions of our business domains. (Raad et al,. 2007) Through this, we will continue to offer solutions to meet the needs of society and our customers, with a focus on energy conservation, resources preservation, green energy, safety, and reliability; and by continuing to contribute to improvement and create value, live up to our corporate philosophy of “Quality of Life.” SI*5 Also Teijins original parent company "SUZUKI Company" was also the one of initial Meiji-era’s Frontiers of Japanese General Trading Companies about 140 years ago. Teijin has usually produced "the cutting-edge" technical solutions and promoted innovative manufacturing materials and movements. Our goal is to improve the quality of life by offering solutions in high-performance materials, health care, and IT. Especially in regards to their medium-term management plan, Teijin has fused the strengths of each of their departments and offered a development strategy with a reformed business plan that will lead to a new highly profitable industry. It can be said that Paper Beacon is a product that is in line with this development strategy, as it fuses Teijin’s high-performance materials business with its IT business. Also, CEO Suzuki stated in an interview in PRESIDENT magazine, “We have created a business model that never existed before, and I want us to change from a mere material maker into an industry that provides high-value-added solutions.” Rather than just increasing sales of Paper Beacon, they seek to use Paper Beacon to provide solutions. Here list the application examples. At libraries: Condition and status of each book can easily be perceived with book cabinet wearing surface-based authentication beacon and IC tag recessed books. University and school: When the student puts the terminal on the desk wearing the lighthouse, attendance is confirmed, assignment is graded in a blink, and then the new assignment is subject to be automatically installed based on the score. Further, materials of the lecture giving at the time are automatically delivered when the student puts a terminal on the desk. Hospitals: Particular clinical record can be displayed for the doctor when the patient sits down on the chair in the consultation room. The company can improve the quality of life of people in many places with the unique and creative surface-based authentication beacon by improving processes at the various scenes in everyday to be more easy-to-use, speedy, further providing more helpful information. Product’s Contribution to Achieving Corporate Mission and Goals The corporate mission and goals: Teijin Group Corporate holds up philosophy as the corporate mission and objectives. They are as following: Enhancing the Quality of Life: For sustainable of human life and life-cycle, we approach to provide more well-being proper health solution for general societies. In Harmony with Society: We usually keep sensitively catching and feeling for our clients’ needs and voices. And we can take harmony and balance for various internal and external environments. Empowering Our People: We encourage the motivation for employees. For maintaining for our each empowerment, we have achieved and the prizes for each other. And we take “Teijin style” for company and employees’ work-life-balance. Surface-based Authentication Beacon will make advanced user experiences that people have never experienced come true and give a tremendous impact on O2O business through surprising convenience. Therefore, the product can achieve the 1st philosophy, enhancing the QOL. In addition, this product can give society growth through introducing cutting edge technology. It is just the 2nd philosophy, in harmony with society. Brand Statement: “Human Chemistry, Human Solutions” The Teijin Group declares that through corporate activities based on corporate philosophy, the company continues to provide value in the form of solutions in response to various global issues and needs. In doing so, they contribute to "enhancing the quality of life," of people everywhere, as it states in their corporate philosophy (Raad et al,. 2007). And also, this is to keep delivering real value through the development of chemical technologies that are friendly to both people and the global environment, and through the provision of solutions that society and its customers expect. This product can be the delivery of the solutions. MARKETING OPPORTUNITY FROM THE ANALYSIS OF MACRO ENVIRONMENT Political and Legal Factors The product is a wireless terminal that sends individual signals to identify IDs or positioning information using Bluetooth Low Energy (LE). The relevant regulation is the FCC’s rules and radio equipment is observed by FCC in the US. Standards of equipment are established in the management. Changes in the management can lead to products recovery, changing production ways and so on. Privacy law is also relevant for the product. Violation of the law leads to the decrease of trust in the product and reduction in sales. Economic factors The product is made of fibers. Fluctuation of raw material cost and exchange, the rate leads to increase or decrease in manufacturing cost, depending on the economic trends, our market needs will be either smaller or bigger because this is the state-of-art technology, and it will require a certain level of investment for customers. And if we would like to explore our business in global, it will be another affection such as exchange rate or risks. Social and Environmental Factors The number of smartphone users is expected to increase in the future. Network externality can act on user-friendly, widening width of the product use and increase in sales. The primary objective and potential of the product, it makes the relationship for many societies and communities in human life-cycle via "paper-surface" IoT (Internet of Things). For example, medical, digital publishing, general construction, education, logistics, food, retail, advertising, etc. It has now so many needs from life stages and business opportunities as essential infrastructure. In addition, development of mobile applications is getting easier, and the number of them is increasing more in the future. Developing software for utilizing the product can lead to “de facto standardization.” Demographic factors: The product covers ALL demographic factors (age, gender, purchase income, settlement area, etc...,). Natural factor: Using the product means "Doing ECO-Action with paperless" for any check-marking, signing on forms, and various authentications. Reference Raad, W., Culturgest (Gallery), Hamburger Bahnhof, Museum für Gegenwartskunst., & Atlas Group. (2007). Scratching on things I could disavow: Some essays from the Atlas Group Project. Lisboa: Kulturgest. Read More