Marketing Strategy

This initial stage will achieve the 11% increase target with the present 19% market share of power marine engines worldwide. By enhancing the product's value proposition, positioning and differentiation strategies will be implemented with the top competitors in mind.
position in the market. To do this, the marketing division of the business will work with the other departments that are involved. In addition to this move, the department will enhance its advertising roles in both its online and offline presence.
DE will provide a premium product at a marginally greater cost than the rival. Their target customer is in need of a high efficiency product and they have enough money to invest in new technology that will give them higher ROI.

Differentiating strategy. What makes the product different from the competitors is a big factor. DE as a brand has made a name for itself in almost a century of being a key player in the industry.

The D999 engine is has an efficiency of 20% higher to the nearest competitor. The reliability of the product is far superior that any product in the market and it requires a minor maintenance in every 50000 miles.

Pricing Strategy

Playing for almost a century in the field, DE has taken all realistic measures in manufacturing diesel engines at the lowest possible cost in order to supply the global market with the most competitive price, if not the lowest. Lowering the price does not always mean winning in sales. The company is confident that its pricing structure is already effective.

The pricing strategy will be a Skimming strategy since no real competition exists in the market and the company can set a startup price for this type of engine before the competition catches up with this type of technology. DE can lower the price when the competition comes up with similar product. This also gave the company enough time to reduce the cost of the product as the supply chain of the component is streamlined.

Product Strategy

To achieve the goal, the Product Quality Assurance Team will be appointed with a more strict set of rules for continuous product quality development. DE brand is already known in the market but in this ever-changing setting, it is always best to remind the customers that DE is the best option. This will be made possible by manufacturing the best quality diesel engines in the global market.

DE is targeting a large customer to dominate. Because of its durability, our pioneering customers do not need to change and replace this product in the near future. This will create a monopoly of our product for the customers for the next 10 years. Subsequently, other customers will follow suit as our product further proves its high ROI for our first customers.

Once clients are on board with our product we can increase our production and supply which will eventually lower the cost of the product. Then we can reduce the price to attract more customers.

Distribution Strategy

To achieve the US$400 million increase in revenue is attainable by focusing on the following strategies:

E-commerce. The company’s sales department will play a vital role in this venture. An amplified e-commerce platform will be developed to allow customers to place their order over the net. Payment will be processed electronically then delivery will be arranged as soon as the payment is completed. The website will cater to customers’ orders while a separate platform will accommodate authorized dealers or distributors.

Traditional sales distribution. Existing customers and dealers are used to the manual ordering system wherein they will place their requirements over the phone or by e-mail. This method will continue but the sales department will encourage the customers to visit the website for their future transactions.

The distribution channel will remain to be direct and indirect because the company is selling direct to the end users while allowing sales distributors and representatives to offer the products to the customers.

Additionally DE is planning to open a new plant in China to facilitate and expedite order for this type of product. The plant will also be used as a service facility that will add up to the revenue.

Marketing Communications Strategy

To cope up with the present trends of marketing, the company will utilize both technology-based and traditional promotions. DE, as promotion, will offer the two engines with installation at no cost to an interested China shipping company. They have the option to decide whether to keep the product or not. They will be obliged to pay the initial cost of the engine only when they chose to keep it.

Traditional advertising. Television (tv) and newspaper ads will be maintained. A new television advertisement will also be produced to attract more customers. Functions in business meetings, tradeshows, and conferences will be continued in a more result-oriented strategies.

Technology/Internet-based advertising. Search Engine Optimization (SEO) will be delegated to beat Yanmar, the number one competitor that occupies the number 1 spot in major search engines, leaving DE to number 2. You Tube channels will also be developed to make the product information accessible to the general public.

Social media accounts will be connected to the web site. This includes Facebook, Twitter, and Instagram accounts. E-mail marketing will play a vital role in this strategy.

Marketing Research

DE’s market research team will be applying a technology-based process wherein data and information will be treated to derive specific information that will be useful in formulating new strategies especially in marketing and sales opportunities.

“Google Surveys” will be very useful in this plan. A measure of the latest market size and trends in selling marine diesel engines from country to country will be outsourced. This will lead to wiser decisions in terms of production, branching out, distributorship, and sales. After sales analytics will also be considered for future market research. Consumer satisfaction rating is a very important attribute. This will be outsourced to a reliable private survey company.