Welcome To Our Presentation

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Md. Iftekhar RahmanID 20-188

Group ProfileName ID Remarks

Mehedi Hasan 20-086

Sadhan Kumar Barman 20-094

Md. Masud Rana 20-146

Md. Iftekhar Rahman 20-188

Md. Golam Rosul 20-48

Md. Saiful Islam 20-104

Md. Al-Amin 20-184

Md. Rayhan Kabir 20-108

Juwel Rana 20-80

Md. Shahad Hossain 19-270

Our Presentation Topic Is onCase Study of Superior Electrical Contractors:Residential Services Division

Superior Electrical ContractorsSuperior Electrical Contractors, Inc. has been providing Commercial, Industrial and Residential electrical service since it was founded in 1976. It has been family owned and operated since its inception.

With its commitments to excellence Superior Electrical Contractors, Inc. has demonstrated a level of performance that has made it one of South Florida’s leading electrical contractors, with expertise in a wide range of projects and services ready to accommodate almost any demand. It is this versatility that has allowed Superior Electrical to be a vibrant part of this community for over three decades.

Electrical Services 

Superior Electrical Contractors Inc. Is geared to handle any size electrical task weather large or small, home or business. Our services include but are not limited to the following:

Home Automation Emergency & Standby Power/Generator Sales Surge Protection UPS Systems Complete Rewiring Electrical Inspections Commercial Maintenance Trade Show and Events Fire Alarm Security Systems/Cameras All types of Electrical Repairs & Services

IntroductionNonprofit organizations also use marketing plans to guide their fund-raising and outreach efforts. Even government agencies develop marketing plans for initiatives such as building public awareness of proper nutrition and stimulating area tourism.

Current Marketing SituationBell Jim began superior electrical contractors eleven years ago and its primary service was electrical wiring of commercial buildings. Electrical contracting services had accounted for 70 percent of sales with the remaining 30 percent comes from sales and services of heating and air conditioning units. Superior Electrical Contractors grew from a sales volume of less than $100,000 in the first year to over $900,000 within a period of four years. Years six through nine showed sales figures holding consistent at around $1 million; however, as the state’s economy faltered, sales volume declined. In the last year sales declined 37% and the year before those sales declined 20%.

Market DescriptionElectrical service market consists of wearing of commercial buildings, residential buildings, residential and commercial air conditioning units and heating units.

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Mehedi HasanID 20-86

Company reviewThe company is a service company. So its product is service.

Companies electrical service division is prepared to handle any size job, from small installations in your home to major residential and commercial jobs.

 

Since it's inception Superior Electrical Contractors Inc. has been involved in the construction of all types of commercial, industrial and residential projects. We specialize in the complete electrical installation for schools, healthcare facilities, apartment buildings, governmental projects, sport complexes, prisons, D.O.T. projects, design-build projects, and more.

Competitive ReviewThe companies market is very competitive. The company have to bid for getting contract. So cost estimation is very necessary here. Here Jim bells have superior competitive advantage over his bidders.Competitive advantage of Jim Bell:

1)Development of computer application2)Estimation of cost accurately on an average of 98%3)Getting the contract for accurate cost estimation

Summary of Sales Last year, sales declined 37 percent and the year before those sales declined 20 percent

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Md. Masud RanaID 20-146

SWOT Analysis:StrengthMarket share: Superior Electrical Contractors has retained their superior market share with which it made expected profit before last three years so using the same market share the company should make minimum profit.

Software Development: Superior Electrical constructor’s owner, Jim Bell, developed a computer application to assist in preparing in cost estimates that help him assist a 98% average accuracy on the job cost estimates

WeaknessLack of Promotion Awareness: The Company has enough lacking of promoting their business than the competitors

Market segmentation: According to the case the company stays in medium sized city in south and targets only the customer holding commercial buildings and a very little attention to residential building’s customers.

Differentiation of Service by Competitors: The competitors have developed their business by providing various types of services for home owners where Superior Electrical Constructor is providing less than the competitors.

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Md. Shahad HossainID 19-270

 OpportunityExpansion of Geographic Area: The Company can expand its geographic area where there are a number of commercial buildings and residential buildings in different cities in south.

Sources Of RevenueNew Sources of Revenue: The company can target another new profitable sectors like light/fan fixture installations, repair and replacement of electrical switches and breakers etc.

Aggressive promotion on sales: In this situation the company is really in need of aggressive promotion as the company is in a maturity stage. So the promotion can only retain or increase sales.

Taking advantage of skilled Employees: If the company is able to work with skilled employees the company can reduce cost of labor, reduce wastages of materials, etc that really helpful to company

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Md. Golam Rosul ID 20-048

ThreatsIncreasing competition: There are many competitors in the market. They give variety of services to home owners. They give services in variety of ways like: Light/fan fixture installationRepair/ replacement of electrical switches and breakersSales and service of heating and air conditioning units

Downward Trend on Pricing:competitors gives service in lower price. This gives lower competitive advantage to company than competitors.

 Competition’s PositionThere are many competitors in the market. They give variety of services to home owners. They give services in variety of ways like:

1)Light/fan fixture installation2)Repair/ replacement of electrical switches and breakers3)Sales and service of heating and air conditioning units

Chapter 2 Objectives & Issues. The company’s objectives is to increase market share, promote a diversified offering to multiple target markets, or develop more services.  Whereas increasing profitability may drive marketing objectives such as increasing efficiency of marketing activities and improving ROI of marketing tactics. 

Some examples of specific objectives:

1)Increasing sales2)Grow the number of customers 3)Increase revenue from existing customers 4)Reach break-even by end of fiscal year5)Participate in 3 community events during the next 12 months.6)Ensure average Returns on Investment(ROI) on marketing activities

 Chapter 3 Target Market Analysis Geography, industry, business or consumer, sex, age, income, etc. The target market could be coalesced through this type of hierarchy:

Potential market – The market area served by Superior Electrical Contractors includes a population of 500,000 people and approximately 112,428 homes. Information from the tax assessor’s office on the value of homes is following table. Jim estimated that twenty percent of these homes were rental properties;However, he was certain that the rental homes were valued under $75,000. Jim believed that this left a large market potential for the maintenance agreement even with the under-$75,000 homes factored out. So it will be the market which will help the company selling more.

Tax assessment of Number %

0-$25000 3375 3

25000-50000 13491 12

50000-75000 25857 23

75000-100000 30,356 27

100000-125000 20,236 18

125000-150000 11,243 10

175000-200000 4,497 4

Over 200000 2,249 2

Tex Assessment of Time Values

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Md. Al-AminID 20-184

Chapter 4  Marketing Strategy

Product Marketing Strategy The product strategy should address the current offering, future road map, and how each product fits the positioning and supports the value proposition.  Product marketing strategy can become very complex in a short time. The company can modified their services by providing the free maintains services for the customer.

Pricing Strategy  The first was a low price of under $100. This low price, though, would generate very little, if any, contribution to profit. However, a higher penetration of homes would achieve greater exposure for Superior that might lead to additional revenue from other services

Step 5 - Marketing Programs Promotion should be designed for the target audience using the positioning statement and value proposition as well as the agreed upon business strategy and marketing strategy.  The promotions should support the objectives you have previously agreed to with your stakeholders.  A promotion plan designed to generate leads is different than a plan designed to position the brand as thought leaders in the space

 Step 6 - Financial Plans All the works of marketing held constant in financial planning. A good financial planning is necessary for carry on promotional campaign.

Budgets The company is trying to make new budgets for its new service and advertisement. Product life cycleThe company is making loss for two years. So it is declining position in the break even analysis.

Product life cycle