Strategic Marketing Management for Fisher & Paykel in Singapore Market

The report analyses the strategic marketing plan of Fisher & Paykel in Singapore market. It includes external environmental analysis, market review, competitive review, and supply chain analysis. The report also highlights the opportunities and threats for the company.

Running head: STRATEGIC MARKETING MANAGEMENT
Strategic Marketing Management
Name of the Student
Name of the University
Author note

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STRATEGIC MARKETING MANAGEMENT
Executive Summary
The report has thrown light on the strategic marketing analysis of the Fisher & Paykel
Company which is based in New Zealand. The company wants to integrate the different
strategies and shift their focus in Singapore market in an effective manner. The external
environmental analysis has been conducted which helped in handling the various operations
in a well-organized manner. Additionally, the implications have been taken into attention
which helped in managing the dissimilar kinds of aspects in a positive manner.

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STRATEGIC MARKETING MANAGEMENT
Table of Contents
Executive Summary...................................................................................................................1
Introduction................................................................................................................................4
Situational Analysis...................................................................................................................4
Business Definition and Scope...............................................................................................4
External Environment- Remote Environment............................................................................6
Economic Forces....................................................................................................................6
Sociocultural Forces...............................................................................................................7
Political Legal Forces.............................................................................................................8
Technological Forces.............................................................................................................8
Natural Environment Forces..................................................................................................9
External Environment- Near Environment..............................................................................10
Market Review.....................................................................................................................10
Competitive Review.............................................................................................................11
Distribution Channels and Buyers (Intermediary Customers).............................................11
End User Customers.............................................................................................................12
Supply..................................................................................................................................14
Critical Success Factors...........................................................................................................15

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Summary of Opportunities...................................................................................................15
Summary of Threats.............................................................................................................17
Critical Success Factors...........................................................................................................18
Situation Analysis- Internal Capabilities.................................................................................18
Organization Wide Capabilities...........................................................................................18
Marketing Capabilities.........................................................................................................19
Problem and Opportunities Statement.....................................................................................20
References................................................................................................................................22

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STRATEGIC MARKETING MANAGEMENT
Introduction
The report helps in the overall analysis of the strategic marketing plan wherein the
main purpose is to analyse the external environmental analysis which will be beneficial for
the identification of the different factors which can affect the success of the organization. The
strategic marketing planning is the ongoing kind of process which helps in identification of
promotional opportunities along with evaluation of these kinds of opportunities as well.
Fisher & Paykel is the major appliance manufacturing organization which is based in
New Zealand wherein the company was the major importer of the domestic refrigerators
("Home -Fisher & Paykel Appliances", 2018). The different kinds of trademarked appliances
which is inclusive of Aerotech ovens, washing machines which are smart drive in nature
along with Smart load top loading dryers. The different products of the Fisher & Paykel are
available in more than 80 countries in the entire world. In 2001, Fisher & Paykel industries
was split in two divisions which is inclusive of Appliances and the healthcare aspects.
The main aim and purpose of the assignment is to understand the remote environment
along with near environment aspects as this will be providing a brief overview on the
PESTEL along with the competitive and market review of the industry in which the
respective company operates. Strategic Planning is helpful framework as this will help fisher
& Paykel in setting policies and strengthen the different operations effectively.
Situational Analysis
Business Definition and Scope
Mission and Vision Statement

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The mission of the Fisher & Paykel Company is to become the most human-centred
appliances related brand in the entire world. The main aim of the respective company is to
communicate with integrity by the different ordinary people along with commitment to make
the life of the individuals a little better in nature (Piercy, 2016). On the other hand, the vision
of the company is to innovate the different products and appliances which are being sold by
the company to their customers which will increase their brand image.
Market Definition
The major target customers of the Haier Company are the niche customer group who
have the ability to pay high price for the different products along with the services. However,
in the future, the organization wants to target the different group of customers from the
various income groups which will be beneficial for gaining more competitive advantage in an
efficient manner (Banerjee, 2017).
Product Definition
Product category Our products/brands
Kitchen Appliances
Built-in Ovens, Cooktops, Ranges, Ventilation along
with Companions and Microwaves
Healthcare Humidification, Breathing Circuits, Chambers, Masks
along with Interfaces
Laundry Appliances
Wash-Accessories, Top Leaders and Front Leaders
Dry- Dryers

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Competitors
Competitors Competing products
Haier Dishwashers, Washing Machines and Micro ovens
Samsung Mobile Appliances and Accessories and Micro-ovens
LG Fridge, Dishwashers and Micro-ovens
Electrolux
Fridges, Micro-ovens and different other electronic
appliances
Scope
The time frame of the strategic plan is 12 months as this will assist in handling the
various kinds of activities in the different cities of Singapore in an efficient manner.
External Environment- Remote Environment
Economic Forces
Scenario
The economic environment of Singapore is vibrant in nature and is developing at a
very fast pace as well. The corruption-free environment of Singapore is helpful in nature in
managing the different aspects as the success is generated due to the strategic geographic
location. However, on the other hand, Fisher & Paykel will be facing different issues which is
related to labour shortages along with rising costs of labour in a negative manner (Mcdonald,
2016).
Implications

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Opportunities Rating Threats Rating
Government has invested
huge amount in diversifying
the Singaporean economy
4 The increase in the cost of
the labour along with
decline in the entire
productivity
5
Sociocultural Forces
Scenario
The literacy rate and the purchasing power of the Singaporean economy is huge in
nature and this will be supportive for Fisher & Paykel in managing the various types of
operations in becoming highly successful. Furthermore, the country helps in attracting the
international trade along with foreign investment in an effective manner. On the other hand,
the country follows the different traditional values which can be challenging for Fisher &
Paykel in order to become competitive in nature (Andrews & Shimp, 2017).
Implications
Opportunities Rating Threats Rating
Literacy Rate and the
Purchasing Power is High
in nature
5 Traditional values and
norms are affecting the
overall international trade
in a negative manner
3

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Political Legal Forces
Scenario
The Singapore have stable government rules and regulations which that will be
effective for the accomplishment of the organization in an appropriate manner. For Fisher &
Paykel, the political risks are low and the country enjoys the lowest political risks in the
continents. Fisher & Paykel can perform the different activities that will be beneficial for the
success of the organization in the respective business environment (Sargeant &
MACQUILLIN, 2016). However, there can be issues related to the limited dissemination of
the content which can discourage the different new entrants in the Singaporean market in a
negative manner.
On the other hand, there are different policy initiatives which have been formed by
the Singapore government in order to increase the economic growth. However, there are
different kinds of tax related issues and the content regulation aspects which will be affecting
the different aspects in a negative manner (Eriksson et al., 2017).
Implications
Opportunities Rating Threats Rating
Stable Government Rules
and Regulations
4 Fear of Legal Suits 3
Policy Initiatives which will
be increasing economic
growth
3 Tax Related Issues 4

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Technological Forces
Scenario
The main aspect regarding the technological aspects is relating to the internet which
plays a major role in Singapore’s advancement. This has helped the different companies in
increasing their presence and increased the connectivity. This will be beneficial for Fisher &
Paykel as the IT infrastructure of Singapore is praise worthy and this will be flourishing in
nature (Tomczak, Reinecke & Kuss, 2018). Due to the technological advancements, there are
no such threats and this has helped Singapore economy in boosting the social networking
aspects in a proper manner.
Implications
Opportunities Rating Threats Rating
The improvement in the internet
connectivity along with cost and time
of performing and conducting the
business has been lowered
5 - -
Natural Environment Forces
Scenario
There are different kinds of environmental rules and regulations which are strict in
nature and this will be difficult for the different international businesses in a negative manner.
There are different kinds of water pollution control along with drainage act which can be a
huge issue for the Fisher & Paykel Company in a negative manner (Kim, Shin & Min, 2016).

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Implications
Opportunities Rating Threats Rating
- - There are different
pollution control rules and
regulations that will be
difficult for the Fisher &
Paykel in handling various
types of operations
5
External Environment- Near Environment
Market Review
Description
The electronic market is growing in nature in the Singapore market and this will be
helpful for the complete achievement of the Fisher & Paykel in a positive manner. The
different leading electronics organizations are continuously innovating the different products
and this is helping them in attracting more companies in a positive manner. On the other
hand, the export has decreased to a great extent which has resulted in decline in the shares
from 55% in 2010 to more than 66% in the 2013.
Implications
Opportunities Rating Threats Rating
Innovativeness of
the different
electronic products
in the entire
5 The decline in the
export of the
different electronic
goods and services
4

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Singaporean
market
can affect the
Fisher & Paykel
Competitive Review
Description
There is huge competitiveness in the entire electronics industry which can affect the
entry of Fisher & Paykel in a negative manner. Furthermore, there are different introduction
of the innovative products by the existing companies in the Singapore market which will be
advantageous for the Fisher & Paykel in managing their operations in an efficient manner.
Implications
Opportunities Rating Threats Rating
Innovativeness in
the Singapore
market can be
beneficial for the
overall success of
the firm
4 Huge level of
Competitiveness in
the Singapore
market can affect
the share of exports
in a negative
manner of Fisher &
Paykel
3

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Distribution Channels and Buyers (Intermediary Customers)
Description
The distribution channels and the buyers play a major role and these become the
strength of the different electronic appliances companies (West, Ford & Ibrahim, 2015). The
intermediary customers are inclusive of the different retail stores which sell the electronic
products and the commission rate is huge in nature which can be a threat for the Fisher &
Paykel company (Chernev, 2018). On the other hand, the opportunity which is being
generated from the distribution channels is that it is effective in nature in contrast to the other
competitors in the market in a positive manner as this provides various options to reach out to
the different international markets (Proctor, 2015).
Implications
Opportunities Rating Threats Rating
The distribution
channels play a
major role in
expanding their
business operations
4 The rate of
commission and the
other hidden costs
are high and this
can affect the
overall efficiency of
Fisher & Paykel in
the Singapore
market
5

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End User Customers
Description
The customers in the Singapore market plays a vital role in handling various activities
in a well-organized manner (Foxall, 2014). The literacy rate and the purchasing power of the
customers are huge and this is applicable in handling different and various aspects in a
positive manner. In the entire Singapore market, this has been seen that customers are the
ones who prefer technologically advanced products which can be threat for Fisher & Paykel
as the products are costly and the meeting of their presences effective in nature as well.
Implications
Opportunities Rating Threats Rating
The literacy rate
and the purchasing
power is huge and
this will be one of
the opportunities
which will be
helpful for gaining
competitive
advantage
5 The constant
change in the tastes
and preferences of
the customers in
the market can be a
threat for Fisher &
Paykel as the
products are costly
in the market and
the changing as per
their preferences
can be
disadvantageous
4

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Supply
Description
The supply chain network which is being followed by the electronics companies in
Singapore is helpful in increasing the capability along with flexibility. On the other hand, this
can be analysed that competitors can easily copy the strategy of the SCM which will be
difficult to manage.
Implications
Opportunities Rating Threats Rating
The supply chain
network in
Singapore market
is faster and
accurate in nature
and this will be
beneficial for the
overall success of
the firm
4 There can be
resistance of the
staffs and the
competitors can
easily copy the
different supply
chain aspects in a
negative manner as
well
4
Critical Success Factors
Summary of Opportunities
Significance of Opportunities
Particulars High Low

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H
igh Probability of
Occurrence
High Government has
invested huge
amount in
diversifying the
Singaporean
economy (Hill,
2017)
Policy Initiatives
which will be
increasing economic
growth
Innovativeness of
the different
electronic products
in the entire
Singaporean market
The literacy rate and
the purchasing
power is huge and
this will be one of
the opportunities
which will be
Stable Government
Rules and
Regulations

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STRATEGIC MARKETING MANAGEMENT
helpful for gaining
competitive
advantage
Low Innovativeness in
the Singapore
market can be
beneficial for the
overall success of
the firm
The distribution
channels play a
major role in
expanding their
business operations
The supply chain
network in
Singapore market is
faster and accurate
in nature and this
will be beneficial for
the overall success
of the firm
Innovativeness of
the different
electronic products
in the entire
Singaporean market
The rate of
commission and the
other hidden costs
are high and this can
affect the overall
efficiency of Fisher
& Paykel in the
Singapore market

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STRATEGIC MARKETING MANAGEMENT
Summary of Threats
Particulars High Low
H
igh Probability of
Occurrence
High Fear of Legal Suits
The decline in the
export of the
different electronic
goods and services
can affect the Fisher
& Paykel
(Hakansson, 2015)
The constant change
in the tastes and
preferences of the
customers in the
market can be a
threat for Fisher &
Paykel as the
products are costly
in the market and the
changing as per their
preferences can be
disadvantageous
Traditional values
and norms are
affecting the overall
international trade in
a negative manner
Huge level of
Competitiveness in
the Singapore
market can affect the
share of exports in a
negative manner of
Fisher & Paykel
There can be
resistance of the
staffs and the
competitors can
easily copy the
different supply
chain aspects in a
negative manner as

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STRATEGIC MARKETING MANAGEMENT
well
Low There are different
pollution control
rules and regulations
that will be
disadvantageous for
the Fisher & Paykel
in handling the
different kinds of
operations
Tax Related Issues
Critical Success Factors
The diversification of the product along with innovation of the different products
play a vital role in handling the different kinds of activities in an effective manner in the
Singapore market. The marketing initiatives are effective in nature that is beneficial for the
complete success of the firm in an efficient manner which will be beneficial for the overall
efficiency and effectiveness of the firm in the Singaporean market.
Situation Analysis- Internal Capabilities
Organization Wide Capabilities
Review
The financial position of Fisher & Paykel is effective in nature and the revenues
earned by them has made them effective in nature. Furthermore, the organization
effectiveness is huge in nature wherein the skills of the staffs are efficient in nature which is

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beneficial for the success of the firm in a positive manner. On the other hand, the structure of
the organization is not effective in nature as there is no such connection between the lower
and higher-level employees.
Implications
Strengths Rating Weaknesses Rating
The financial aspects
of the company are
effective and the
company has
performed well in
last five years and
gained huge
revenues
5 No connection
between higher and
lower level
employees
5
Marketing Capabilities
Review
The market intelligence generation along with marketing planning is the major
strength of the company and this affected the company in a positive manner. On the other
hand, the marketing strategies are negative in nature as the company is not innovative in
nature in managing the different operations.
Implications
Strengths Rating Weaknesses Rating

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The marketing
intelligence is the
major strength
wherein the
segmentation and
the brand loyalty are
the major concerns
5 The marketing
strategies related to
the different pricing
of the product is
negative in nature
and this has
decreased their
market share
5
Problem and Opportunities Statement
1. Business Unit’s Capabilities in Relation to CSF
CSF Our capabilities
Diversification of the Products The distribution and supply chain
management of the company is
effective in nature in managing the
different operations appropriately
Innovation of the Products The company have different talented
engineering experts and technicians
which will be beneficial for the
success
2. Opportunities for the business unit to exploit with existing capabilities
Fisher & Paykel can include the different opportunities such as gaining more
profitability and the revenues in the overall competitive market (Charter, 2018).

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3. Opportunities for the business unit to exploit with improved capabilities
Fisher & Paykel can become one of the top ten companies which sells the different
appliances along with healthcare products in a positive manner.
4. Threats that must be addressed
The threats which are required to be addressed in the organization are relating to the
tax related issues which is required to be analysed in an efficient manner.
5. Strategic implications
The company is required to adopt customer-centric approach in the different aspects
which will be beneficial for the long-term profitability of the company.

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References
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Eriksson, K., Johanson, J., Majkgård, A., & Sharma, D. D. (2015). Experiential knowledge
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