Accounting For Business

Contents

Perceptual map of middle size vessels.

SWOT Analysis for KBC..

Strength.

Weakness.

Opportunity.

Threat

BCG Matrix.

Question Marks.

Cash Cow..

Dog.

Ansoff Matrix.

Market Penetration.

Market Development

Product Development

Diversification.

References.

Perceptual Map of Middle Size Vessels

Economical

From the perceptual map, it has been identified that KBC provides its customers with luxury without charging a lot of money from its consumers. However, the Black watch tries to provide luxury at a low cost, but the organization has to decrease the quality of the product. On the other hand, Austal provides economical ships at a higher price. As this particular shipbuilding organization excels in building battleships rather than normal cruise ships (Austal 2020).

SWOT Analysis for KBC

Strength

  • The organization has always kept the consumers over the organization's profit
  • The quality standards of the product produced by KBC were quite high.
  • Customer satisfaction level was quite high
  • Every division of the organization had it own separate product line

Weakness

  • The organization has only catered to the Australian market
  • The organization still uses the conventional modes of technology, that allows its competitors to get an edge over KBC
  • The organization is being targeted by bigger organizations, thus impacting the morale of the employees

Opportunity

  • There are multiple untapped markets for the organization to explore.
  • The main product line of the organization deals with luxury products. The products have been designed in such a way that they can easily influence the rich people of society.

Threat

  • Obsolete technology used by organizations provides an opportunity for other players to easily enter the market.
  • There are several substitutes present for all three product lines of the organization.
  • The government of Australia has made amendments to the previous guidelines. This would impact the traditionally crafted boats of the organization.

BCG Matrix

Star

Question Mark

Small Ships

Cash Cow

Medium ships

Dog

Maintenance and repair services

Question Marks

The small ships that are produced by the organization will be entertained in the question marks category. The sole reason behind the placement of small vessels in the question mark category is that the majority of the market share has been captured by the rival organizations. it has been identified that the market growth for small ships can be very high. If the organization can enhance its technology, it can easily regain the market share.

Cash Cow

After analyzing the case study it was identified that the medium ships will be placed as a cash cow. As most of the company's revenue is generated from this particular segment, it has been identified that this particular segment is the only segment that brings adequate revenue to the organization's functioning.

Dog

It was identified that the repair and maintenance system should become part of the dog category. As per researchers, Australia is one such country that does not produce inexpensive labor (OECD, 2018), and the repair and maintenance system is the most labor-intensive unit. The rate of return is quite low and currently, this particular segment only adds to 20 percent of the total revenue.

Ansoff Matrix

Market Penetration

It was identified that KBC majorly focuses on the strategy of market penetration. Market penetration is utilized when the organization wants to sell its existing product in the currently occupied market (Bocken, Fil and Prabhu 2016). It has been identified that when the organizations implement this particular strategy, the organization has to face minimal risk, which helps organizations to innovate their different products. This particular strategy is very suitable for KBC as they have complete knowledge of the market conditions and at the same time, they are also aware of the needs and wants of their customer. In addition to this, their goodwill can aid them to establish this strategy. The only problem that lies with this particular strategy is that it would require the organization to target their competitor’s consumers.

Market Development

 For this particular strategy, the organization has to identify a new market where the organization can showcase its existing products. If KBC wants to develop a given market for itself, the organization needs to familiarize itself with the product that it deals in (Gardiner and Scott 2018). KBC should make sure that they have the complete knowledge and understanding of their product that is they should be aware of the strength weakness that their product portrays. This will help the organization identify the requirement of its potential customers. It is important to understand that market development cannot be always associated with expansion or globalization (Daykin 2018). As per the case study, there were a lot of opportunities for the organization one of them was a largely untapped market place present around them. To make this a huge success the organization has to deeply analyze its competitor's movements

Product Development

This particular strategy is used by the organization when it is planning to use the same market place to launch a new product (Elverum, Welo, and Tronvoll 2016). After the analysis of the case study, it became evident that the organization portrayed the qualities of first movers advantage as the organization is working on the concept of fiberglass. The organization would be able to substitute fiberglass, with carbon fiber as well as Kevlar. However, it has also been identified that for the development of this new product the cost incurred will be quite high. However, in the case study, it was also identified that KBC did not have to incur the high cost alone, as the organization can take the help of the high-end customers to compensate for the high costs of production.

Diversification

This particular strategy can be somewhat linked to the product development process but, in this particular strategy, there is just one difference, although the organization is showcasing its new product the market is completely different (Bowen, Baker and Powell 2016). After analyzing the case study it was identified that this particular scenario will be the most unsuitable strategy for the organization. It can be easily identified from the case that only the medium ships of the organizations were doing well. However, it cannot be guaranteed the medium vessels can be succeeding in a foreign market. As that depends on the consumers of the country.

From the above analysis, it was identified that product development strategy can help the organization go a long way. This particular strategy is the least risk-bearing strategy for the organization. It was identified that the organization prefers the traditional ways of shipbuilding. If the organization wants to grow they have to and have a sustainable future they should try to make the technological changes.

References for Accounting For Business 

Austal. 2020. Littoral Combat Ship. [Online]. Available at: https://www.austal.com/ships/littoral-combat-ship-lcs

Bocken, N.M., Fil, A., and Prabhu, J., 2016. Scaling up social businesses in developing markets. Journal of Cleaner Production139, pp.295-308.

Bowen, H.P., Baker, H.K., and Powell, G.E., 2015. Globalization and diversification strategy: A managerial perspective. Scandinavian Journal of Management31(1), pp.25-39.

Daykin, J. 2018. Growing and expanding your business. [Online]. Available at: https://www.forbes.com/sites/jordandaykin/2018/11/06/growing-and-expanding-your-business/#7d707cbdd6a6 [Accessed on: 14 June 2020].

Elverum, C.W., Welo, T., and Tronvoll, S., 2016. Prototyping in new product development: Strategy considerations. Procedia CIRP50, pp.117-122.

Gardiner, S., and Scott, N., 2018. Destination Innovation Matrix: A framework for new tourism experience and market development. Journal of Destination Marketing & Management10, pp.122-131.

OECD. 2018. Average wages. [Online]. Available at: https://data.oecd.org/earnwage/average-wages.htm [Accessed on: 14 June 2020].

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Accounting and Finance Assignment Help

Get It Done! Today

Applicable Time Zone is AEST [Sydney, NSW] (GMT+11)
Not Specific >5000
  • 1,212,718Orders

  • 4.9/5Rating

  • 5,063Experts

"

5 Stars to their Experts for my Assignment Assistance.

There experts have good understanding and knowledge of university guidelines. So, its better if you take their Assistance rather than doing the assignments on your own.

What you will benefit from their service -

I saved my Time (which I utilized for my exam studies) & Money, and my grades were HD (better than my last assignments done by me)

What you will lose using this service -

Absolutely nothing.

Unfortunately, i had only 36 hours to complete my assignment when I realized that it's better to focus on exams and pass this to some experts, and then I came across this website.

Kudos Guys!

Jacob

"

Highlights

  • 21 Step Quality Check
  • 2000+ Ph.D Experts
  • Live Expert Sessions
  • Dedicated App
  • Earn while you Learn with us
  • Confidentiality Agreement
  • Money Back Guarantee
  • Customer Feedback

Just Pay for your Assignment

  • Turnitin Report

    $10.00
  • Proofreading and Editing

    $9.00Per Page
  • Consultation with Expert

    $35.00Per Hour
  • Live Session 1-on-1

    $40.00Per 30 min.
  • Quality Check

    $25.00
  • Total

    Free
  • Let's Start

Get
500 Words Free
on your assignment today

Browse across 1 Million Assignment Samples for Free

Explore MASS
Order Now

Request Callback

Tap to ChatGet instant assignment help

Get 500 Words FREE
Ask your Question
Need Assistance on your
existing assignment order?