Reference no: EM133186785

Case study

Beijing TBF Mining Engineering Company Ltd is a famous hi-tech mining devices manufacturer, whose specialty is for Mining Engineering Devices and Data Analysis Solution. The company was established in 2000 in Beijing with a R&D Centre two manufacturing centers. As many universities and research institutions in the company's location, the company has a ready source of good quality Mining Engineering Devices materials and experienced workers. It now has 1300 employees.

As well as achieving both local and national Chinese quality certification, the company achieved International certification ISO 9001, and the production process strictly adheres to this international quality system. Overall there are over 40 product types depending on models of diverse mining projects.

TBF products are sold through their own sales team and agents. Their main customers are large mining enterprises and the contractors of mining projects from the domestic mining industries.

In the last 10 years, the company's sales have grown substantially each year as a result of the rapidly growing popularity of Mining Engineering Devices in China. However in the past three years, sales growth has slowed. This is due to a number of factors, such as increased competition in the domestic market; a growing trend towards better quality imported Mining Engineering Devices; and increasing competition from Digital Mining Engineering Mini Devices which are considerably cheaper than traditional Mining Engineering Devices. It is expected that in the coming years the domestic market will get even more competitive and this will put greater pressure on profit margins.

Beijing TBF Mining Engineering Company Ltd has not actively promoted any of their Mining Engineering Devices range outside of China; however it has sold a small percentage of its production overseas - but only in response to direct enquiries. Their Chief Executive Officer believes that now is the right time to look at international markets as the US and European economies start to recover. He also believes that emerging markets, such as India and Brazil, could possibly follow the Chinese example and experience higher than average demand for Mining Engineering Devices as their economies grow.

You are the research specialist of the company's marketing department. Your manager tells the CEO's ideas and asks you to provide a research report. In your report, you should organize your proposal in line with the following questions.

Question:

(3) Identify and explain which marketing strategies would be most appropriate for Beijing TBF Mining Engineering Company Ltd