ID Coatings is a company established in Shah Alam that focuses on developing innovative, disruptive, and...
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ID Coatings is a company established in Shah Alam that focuses on developing innovative, disruptive, and sustainable nanotechnology products. The company has been in operation for two years. ID Coatings has significantly improved hazardous formulations by developing eco-friendly, sustainable, and low Volatile Organic Compounds (VOCs) coatings for a better and safer environment. ID Coatings offers automotive, aviation, marine, and industrial coatings. Mr Rahman, the owner, is dealing with several challenges, one of which is his inability to sell his product in the Malaysian market. The company also faces difficulties in attracting new clients aside from those already using the product. One of the reasons was a bias toward the Malaysian brand; whenever they approached a client, the client would always compare them to the competitor's brand from the United States, Germany, or Japan. When they indicate that it is a Malaysian product, the client will either argue that it needs to be cheaper or that the product is of poor quality. As Malaysians are normally followers, it is difficult for a local start-up and a new product to establish themselves and achieve recognition in the international market. If the product is already well-established and widely accepted in other countries, they will certainly purchase it without hesitation. As a result, Mr Rahman decided to develop and try to market the product elsewhere. Besides, he intends to begin by promoting his products at an international show, even though it will be pricey. Required: a. Based on the short case above, describe four (4) factors of a changing business climate that Mr Rahman would need to pay attention to for ID Coatings to compete globally. ID Coatings is a company established in Shah Alam that focuses on developing innovative, disruptive, and sustainable nanotechnology products. The company has been in operation for two years. ID Coatings has significantly improved hazardous formulations by developing eco-friendly, sustainable, and low Volatile Organic Compounds (VOCs) coatings for a better and safer environment. ID Coatings offers automotive, aviation, marine, and industrial coatings. Mr Rahman, the owner, is dealing with several challenges, one of which is his inability to sell his product in the Malaysian market. The company also faces difficulties in attracting new clients aside from those already using the product. One of the reasons was a bias toward the Malaysian brand; whenever they approached a client, the client would always compare them to the competitor's brand from the United States, Germany, or Japan. When they indicate that it is a Malaysian product, the client will either argue that it needs to be cheaper or that the product is of poor quality. As Malaysians are normally followers, it is difficult for a local start-up and a new product to establish themselves and achieve recognition in the international market. If the product is already well-established and widely accepted in other countries, they will certainly purchase it without hesitation. As a result, Mr Rahman decided to develop and try to market the product elsewhere. Besides, he intends to begin by promoting his products at an international show, even though it will be pricey. Required: a. Based on the short case above, describe four (4) factors of a changing business climate that Mr Rahman would need to pay attention to for ID Coatings to compete globally.
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As Mr Rahman plans to expand ID Coatings globally he should pay attention to several factors that ma... View the full answer
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-0470477144
5th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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