Harvard Case - Big Boss Cement Inc.: Stirring Up Industry Competition in the Philippines
"Big Boss Cement Inc.: Stirring Up Industry Competition in the Philippines" Harvard business case study is written by Shweta Pandey, Sandeep Puri, Babak Hayati. It deals with the challenges in the field of Marketing. The case study is 10 page(s) long and it was first published on : Aug 30, 2018
At Fern Fort University, we recommend Big Boss Cement Inc. adopt a multifaceted growth strategy focusing on disruptive innovation, strategic brand management, and digital marketing to solidify its market position and drive long-term success in the competitive Philippine cement market. This approach involves leveraging technology and analytics, product development, and customer relationship management to create a sustainable competitive advantage.
2. Background
Big Boss Cement Inc. is a young, ambitious cement company in the Philippines. Founded in 2010, it quickly gained traction by offering high-quality cement at competitive prices, targeting the growing construction sector. However, the company faces stiff competition from established players like Holcim Philippines and LafargeHolcim, who hold significant market share and brand recognition. Big Boss Cement needs to differentiate itself and build a strong brand identity to secure its future.
The case study focuses on Mr. Reyes, the company's founder, who is grappling with the challenge of achieving sustainable growth amidst intense competition. He recognizes the need for innovation and a strong marketing strategy to attract new customers and retain existing ones.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Competitive pricing: Big Boss Cement offers competitive prices compared to its competitors.
- High-quality product: The company produces high-quality cement, meeting industry standards.
- Strong entrepreneurial leadership: Mr. Reyes's ambition and drive are key assets for the company's growth.
- Focus on innovation: Big Boss Cement is actively exploring new technologies and product development.
Weaknesses:
- Limited brand recognition: The company lacks the brand recognition enjoyed by established players.
- Limited marketing budget: The company's marketing budget is relatively small compared to its competitors.
- Lack of established distribution channels: Big Boss Cement relies on third-party distributors, limiting its control over the supply chain.
- Limited customer data: The company lacks comprehensive data on customer preferences and behavior.
Opportunities:
- Growing construction sector: The Philippine construction industry is experiencing significant growth, offering potential for expansion.
- Increasing demand for sustainable building materials: The demand for eco-friendly cement is rising, presenting a niche market opportunity.
- Emerging digital marketing channels: Leveraging digital platforms can reach a wider audience and build brand awareness.
- Government infrastructure projects: Big Boss Cement can capitalize on government investments in infrastructure development.
Threats:
- Intense competition: The cement market is highly competitive, with established players dominating the landscape.
- Fluctuating raw material prices: Rising raw material costs can negatively impact profitability.
- Economic instability: Economic downturns can affect construction activity and demand for cement.
- Environmental regulations: Stricter environmental regulations can increase production costs and impact profitability.
Market Segmentation:
Big Boss Cement can segment its target market based on:
- Construction type: Residential, commercial, industrial, infrastructure.
- Project size: Small, medium, large.
- Geographic location: Urban, rural, regional.
- Customer type: Contractors, builders, individual homeowners.
Brand Positioning:
Big Boss Cement can position itself as:
- The value-driven choice: Offering high-quality cement at competitive prices.
- The innovative leader: Emphasizing its commitment to product development and sustainability.
- The reliable partner: Focusing on customer service and building long-term relationships.
Consumer Behavior Analysis:
- Price sensitivity: Customers in the construction sector are generally price-sensitive, particularly smaller contractors and individual homeowners.
- Quality consciousness: Customers value high-quality products that meet industry standards and ensure durability.
- Brand loyalty: Established players enjoy brand loyalty, but consumers are open to new options if they offer better value.
- Environmental awareness: Consumers are increasingly interested in sustainable building materials and eco-friendly practices.
Competitive Analysis:
Big Boss Cement needs to understand its competitors' strengths, weaknesses, and strategies. This analysis will help identify opportunities for differentiation and market share gains.
Product Lifecycle Management:
Big Boss Cement should focus on:
- Product innovation: Developing new cement products that meet emerging market needs.
- Product differentiation: Creating unique features and benefits that set its products apart.
- Product extension: Expanding its product portfolio to cater to different market segments.
Value Proposition Development:
Big Boss Cement's value proposition should clearly articulate its unique benefits and address customer needs. This can be achieved by focusing on:
- Price competitiveness: Offering affordable high-quality cement.
- Product quality: Guaranteeing durability and performance.
- Customer service: Providing responsive and reliable support.
- Sustainability: Highlighting its commitment to eco-friendly practices.
4. Recommendations
1. Disruptive Innovation:
- Develop eco-friendly cement: Invest in research and development to create cement with a lower carbon footprint, targeting the growing demand for sustainable building materials.
- Introduce innovative product applications: Explore new uses for cement, such as in 3D printing or prefabricated construction, to expand its market reach.
- Leverage technology for efficiency: Implement automation and digitalization in manufacturing processes to reduce costs and improve production efficiency.
2. Strategic Brand Management:
- Strengthen brand identity: Develop a strong brand identity that resonates with its target market, highlighting its values, quality, and commitment to innovation.
- Build brand awareness: Invest in targeted marketing campaigns across various channels, including digital platforms, print media, and industry events.
- Enhance customer experience: Focus on providing exceptional customer service and building long-term relationships.
3. Digital Marketing Strategies:
- Develop a comprehensive digital marketing strategy: Leverage social media, search engine optimization (SEO), and content marketing to reach a wider audience and build brand awareness.
- Target specific customer segments: Use data analytics to identify and target specific customer segments based on their needs and preferences.
- Utilize online sales channels: Explore e-commerce platforms to expand distribution channels and reach new customers.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with Big Boss Cement's core competencies in product quality and its mission to be a leading player in the Philippine cement market.
- External customers and internal clients: The recommendations address the needs of both external customers (contractors, builders, homeowners) and internal clients (employees, distributors).
- Competitors: The recommendations focus on differentiating Big Boss Cement from its competitors through innovation, branding, and digital marketing.
- Attractiveness ' quantitative measures: The recommendations are expected to generate a positive return on investment (ROI) through increased sales, market share, and brand equity.
Assumptions:
- The Philippine construction sector will continue to grow, creating demand for cement.
- Consumers are increasingly interested in sustainable building materials.
- Digital marketing channels will continue to grow in importance.
6. Conclusion
By adopting a strategy focused on disruptive innovation, strategic brand management, and digital marketing, Big Boss Cement can solidify its market position, attract new customers, and achieve sustainable growth in the competitive Philippine cement market. The company needs to invest in research and development, build a strong brand identity, and leverage digital platforms to reach a wider audience and build customer loyalty.
7. Discussion
Alternative Options:
- Aggressive price competition: While this could attract price-sensitive customers, it could also lead to a price war and erode profitability.
- Merger or acquisition: This could provide access to existing distribution channels and brand recognition, but it involves significant financial and strategic risks.
Risks and Key Assumptions:
- Economic downturns: A decline in construction activity could impact demand for cement.
- Competition: Established players may respond with aggressive countermeasures.
- Technology adoption: The successful implementation of digital marketing and innovation requires significant investment and expertise.
8. Next Steps
- Develop a detailed implementation plan: Outline specific actions, timelines, and resource requirements for each recommendation.
- Allocate budget and resources: Secure funding for research and development, marketing campaigns, and digital infrastructure.
- Build a strong team: Recruit and train employees with the necessary skills and expertise in innovation, branding, and digital marketing.
- Monitor progress and adjust strategy: Regularly track key performance indicators (KPIs) and make adjustments to the strategy as needed.
By taking these steps, Big Boss Cement can position itself for long-term success in the dynamic and competitive Philippine cement market.
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Case Description
In January 2018, the Philippine cement industry changed forever with the entry of the 100-per-cent Filipino-owned cement manufacturing company Big Boss Cement Inc. (BBCI). When the company decided to set up shop with a cheaper, eco-friendly manufacturing process that promised less carbon emission, competition became fierce. BBCI planned to expand its capacity to take advantage of a growth in both infrastructure projects and local demand for cement, but it had to analyze the macro-environmental and competitive forces relevant in the context of its entry in the cement industry. It had to ascertain whether it could differentiate its product based solely on ecological appeal. BBCI also had to ensure that its environmentally-friendly brand promise would work, and anticipate potential obstacles to its success and determine how to counter these hurdles.
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