Strategic Report On Diamond Foam 1j1w23
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STRATEGIC REPORT ON DIAMOND FOAM BY:
SHAHZAIB HASSAN SHAHRYAR AHMED KHAN ZEESHAN SYED MISBAULLAH HUSSAINI HAMMAD ALI KHAN
Introduction
DIAMOND Group of Industries (in Pakistan and International level U.A.E, Egypt) is a well known group of companies serving the country since 1974. Right first introducing from DIAMOND FOAM, it quickly established and introduced various industries in engineering, chemicals, insulation and rubber sectors such as Diamond Jumbolon, Diamond Spring Mattress, Diamond Tyres, Eagle Bicycle, Eagle Motorcycle, Eagle Auto Rickshaw etc. Now the company is expanding its business in Fast Moving Consumer Goods (FMCG) and Chemical Engineering sectors.
Diamond Foam is running a successful Facebook page where the consumers are not only given free tips of sleeping patterns and techniques but also collects constructive from consumers so that it may understand what problems do the consumers have and then develop a product or a mattress that caters to the consumer’s needs.
VISION & MISSION STATEMENTS
Vision “We want to be the leader in the bedding industry across the region while bringing comfort and wellbeing in to the lives of our consumers and stakeholders.”
Mission “We will ensure top quality bedding products for our consumers through top quality production methods, world class research and development, providing lasting comfort solutions and achieving highest customer satisfaction based on innovative and high quality products backed with best customer service.”
Corporate Business Strategy of the Company.
DIVERSIFICATION
Business Strategy: Target
Market
Diamond Foam has broad target market in Pakistan because any product requires foam is their target market and person used that foam is their target customer.
THE 4PS AT DIAMOND FOAM
Products
Products:
Foam mattress
Europedic Memory Foam
Spring mattress
Dolce Vita Pocket Spring Mattresses
Dolce Vita Bonnell Spring Mattress
Diamond Jumbolon
Jumbolon Board
Jumbolon Spray
Jumbolon Rolls
Life style products
Dolce Vita Recliner
Dolce Vita Adjustable bed
Pricing
Pricing:
The Diamond Foam Ltd has developed its products for different income levels starting from PKR 7000 to PKR 500,000 and beyond depending upon the type of the product and the benefits or the added value of the product.
Placement: Diamond
Foam has 41 Dealers in different furniture market and key points and two outlets of Dolce Vita Home. One at Bukhari DHA and other at Comb 3 near Bilawal Chowrangi.
Promotions:
Diamond Foam is using ments with the tag line of “Kaam kaam kaam din raat kare hum kaam jb kaam se thak jahe tw khoob kare araaaam araam ka ha naaam Diamond Supreme Foam”
through which the company actually elicits the consumers to only purchase there mattress and they have casted Ali Zafar and Mehwish Hayyat as brand ambassador.
INTERNAL ANALYSIS
Strengths
High quality.
Pioneer brand in its product category
Efficient Production controlling mechanisms.
Extensive Dealer-ship Network.
Committed to a high degree of innovation.
After Sale Services.
Latest technology.
High Quality Standards.
Weaknesses
Long distance between the head office and production.
No visible planning for exports of products abroad.
Their e-business facility is not known to everyone, which is a big chunk of present day economy.
Ineffective social media campaigns.
Inadequate marketing strategy and distribution channel
Unawareness among the consumers of the value that theses High Quality mattresses provide.
Raw materials and technology is imported from abroad, making the prices go high for the products.
Delivery problems in different cities is a big problem because they take 3 to 4 days to reach Karachi. And Master factory is in Karachi and Lahore.
Weak marketing ideas as they copy old marketing ideas of their competitors.
SWOT ANALYSIS
Strength:
They have high quality furniture along with their mattresses.
Threats:
Inconsistent and unpredictable fiscal policies which impacts the prices and working capabilities of the industry. High inflation rate is reducing the purchasing power of the people. Current rate of inflation is 25%, thus magnitude of sales is not enough and may decrease. Devaluation of Rupee causes high import cost for raw materials. Energy crisis is major threat as it hinders production.
Opportunities:
By increasing the dealership network in different areas they can get the market easily because low quality mattress manufactures are viding up their business from Karachi because of low financial stability.
Weakness:
Only one factory in Pakistan which is in Lahore. So delivery problems in different cities is a big problem because they take 3 to 4 days to reach Karachi. And Master factory is in Karachi and Lahore. Weak marketing ideas as they copy old marketing ideas of their competitors.
BENCHMARKING & VALUE CHAIN
Benchmarking: Want to compete Master Molty and Celeste to become the leader in the mattress industry.
Value Chain:
It identifies different stages or separate departments within the company which add value to the final product.
COMPETITIVE PROFILE MATRIX
Diamond Foam
Master Molty Foam
Alkher Foam
Strategic Factors
Weight
Rating
Weighted Score
Rating
Weighted Score
Rating
Weighted Score
Brand Name
0.1
3
0.3
5
0.5
2
0.2
Product Quility
0.2
3
0.6
3
0.6
2
0.4
Public Image
0.05
2
0.1
4
0.2
1
0.05
Advertising
0.1
2
0.2
5
0.5
3
0.3
Market Share
0.07
3
0.21
3
0.21
2
0.14
Costumer Service
0.05
3
0.15
4
0.2
1
0.05
Sales Force
0.05
1
0.05
3
0.15
2
0.1
Market Availibilty
0.04
3
0.12
4
0.16
3
0.12
Profit Margin
0.15
2
0.3
3
0.45
2
0.3
Financial Position
0.1
3
0.3
3
0.3
2
0.2
Innovations
0.04
2
0.08
3
0.12
2
0.08
Geographic Coverage
0.05
3
0.15
4
0.2
3
0.15
Suggestions
Co-brand with hospitals to introduce an orthopedic matress
Partner with furniture companies to sell the Supreme and medicated products and mattress as a complimentary product to their bed-sets which would create the brand awareness amongst the consumers and would be beneficial for the company.
Running an extensive ment campaign on television, detailing the benefits of a good matress
Development of Diamond Ortho Clinics, a mobile-clinic visiting different places and localities in order to examine the patients with back pain and identify and recommend them use the right mattress for a healthier life.
SHAHZAIB HASSAN SHAHRYAR AHMED KHAN ZEESHAN SYED MISBAULLAH HUSSAINI HAMMAD ALI KHAN
Introduction
DIAMOND Group of Industries (in Pakistan and International level U.A.E, Egypt) is a well known group of companies serving the country since 1974. Right first introducing from DIAMOND FOAM, it quickly established and introduced various industries in engineering, chemicals, insulation and rubber sectors such as Diamond Jumbolon, Diamond Spring Mattress, Diamond Tyres, Eagle Bicycle, Eagle Motorcycle, Eagle Auto Rickshaw etc. Now the company is expanding its business in Fast Moving Consumer Goods (FMCG) and Chemical Engineering sectors.
Diamond Foam is running a successful Facebook page where the consumers are not only given free tips of sleeping patterns and techniques but also collects constructive from consumers so that it may understand what problems do the consumers have and then develop a product or a mattress that caters to the consumer’s needs.
VISION & MISSION STATEMENTS
Vision “We want to be the leader in the bedding industry across the region while bringing comfort and wellbeing in to the lives of our consumers and stakeholders.”
Mission “We will ensure top quality bedding products for our consumers through top quality production methods, world class research and development, providing lasting comfort solutions and achieving highest customer satisfaction based on innovative and high quality products backed with best customer service.”
Corporate Business Strategy of the Company.
DIVERSIFICATION
Business Strategy: Target
Market
Diamond Foam has broad target market in Pakistan because any product requires foam is their target market and person used that foam is their target customer.
THE 4PS AT DIAMOND FOAM
Products
Products:
Foam mattress
Europedic Memory Foam
Spring mattress
Dolce Vita Pocket Spring Mattresses
Dolce Vita Bonnell Spring Mattress
Diamond Jumbolon
Jumbolon Board
Jumbolon Spray
Jumbolon Rolls
Life style products
Dolce Vita Recliner
Dolce Vita Adjustable bed
Pricing
Pricing:
The Diamond Foam Ltd has developed its products for different income levels starting from PKR 7000 to PKR 500,000 and beyond depending upon the type of the product and the benefits or the added value of the product.
Placement: Diamond
Foam has 41 Dealers in different furniture market and key points and two outlets of Dolce Vita Home. One at Bukhari DHA and other at Comb 3 near Bilawal Chowrangi.
Promotions:
Diamond Foam is using ments with the tag line of “Kaam kaam kaam din raat kare hum kaam jb kaam se thak jahe tw khoob kare araaaam araam ka ha naaam Diamond Supreme Foam”
through which the company actually elicits the consumers to only purchase there mattress and they have casted Ali Zafar and Mehwish Hayyat as brand ambassador.
INTERNAL ANALYSIS
Strengths
High quality.
Pioneer brand in its product category
Efficient Production controlling mechanisms.
Extensive Dealer-ship Network.
Committed to a high degree of innovation.
After Sale Services.
Latest technology.
High Quality Standards.
Weaknesses
Long distance between the head office and production.
No visible planning for exports of products abroad.
Their e-business facility is not known to everyone, which is a big chunk of present day economy.
Ineffective social media campaigns.
Inadequate marketing strategy and distribution channel
Unawareness among the consumers of the value that theses High Quality mattresses provide.
Raw materials and technology is imported from abroad, making the prices go high for the products.
Delivery problems in different cities is a big problem because they take 3 to 4 days to reach Karachi. And Master factory is in Karachi and Lahore.
Weak marketing ideas as they copy old marketing ideas of their competitors.
SWOT ANALYSIS
Strength:
They have high quality furniture along with their mattresses.
Threats:
Inconsistent and unpredictable fiscal policies which impacts the prices and working capabilities of the industry. High inflation rate is reducing the purchasing power of the people. Current rate of inflation is 25%, thus magnitude of sales is not enough and may decrease. Devaluation of Rupee causes high import cost for raw materials. Energy crisis is major threat as it hinders production.
Opportunities:
By increasing the dealership network in different areas they can get the market easily because low quality mattress manufactures are viding up their business from Karachi because of low financial stability.
Weakness:
Only one factory in Pakistan which is in Lahore. So delivery problems in different cities is a big problem because they take 3 to 4 days to reach Karachi. And Master factory is in Karachi and Lahore. Weak marketing ideas as they copy old marketing ideas of their competitors.
BENCHMARKING & VALUE CHAIN
Benchmarking: Want to compete Master Molty and Celeste to become the leader in the mattress industry.
Value Chain:
It identifies different stages or separate departments within the company which add value to the final product.
COMPETITIVE PROFILE MATRIX
Diamond Foam
Master Molty Foam
Alkher Foam
Strategic Factors
Weight
Rating
Weighted Score
Rating
Weighted Score
Rating
Weighted Score
Brand Name
0.1
3
0.3
5
0.5
2
0.2
Product Quility
0.2
3
0.6
3
0.6
2
0.4
Public Image
0.05
2
0.1
4
0.2
1
0.05
Advertising
0.1
2
0.2
5
0.5
3
0.3
Market Share
0.07
3
0.21
3
0.21
2
0.14
Costumer Service
0.05
3
0.15
4
0.2
1
0.05
Sales Force
0.05
1
0.05
3
0.15
2
0.1
Market Availibilty
0.04
3
0.12
4
0.16
3
0.12
Profit Margin
0.15
2
0.3
3
0.45
2
0.3
Financial Position
0.1
3
0.3
3
0.3
2
0.2
Innovations
0.04
2
0.08
3
0.12
2
0.08
Geographic Coverage
0.05
3
0.15
4
0.2
3
0.15
Suggestions
Co-brand with hospitals to introduce an orthopedic matress
Partner with furniture companies to sell the Supreme and medicated products and mattress as a complimentary product to their bed-sets which would create the brand awareness amongst the consumers and would be beneficial for the company.
Running an extensive ment campaign on television, detailing the benefits of a good matress
Development of Diamond Ortho Clinics, a mobile-clinic visiting different places and localities in order to examine the patients with back pain and identify and recommend them use the right mattress for a healthier life.
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