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Strategic Recommendations for PST: Entering the Economy Market with a New Brand

This document explores strategic recommendations for PST to effectively respond to the threats in the economy market, as highlighted by a SWOT analysis. It emphasizes the need for PST to introduce an economy brand, leveraging internal strengths such as patented products and eco-friendly technologies. The report outlines market research strategies, customer behavior analysis, and the importance of diversification. Additionally, it presents detailed strategies for sales restructuring, distributor partnerships, and marketing initiatives aimed at addressing price-sensitive customers while improving service quality.

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Strategic Recommendations for PST: Entering the Economy Market with a New Brand

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  1. One Finger Down CristianDohi, Lena Grosse, Nicklas Peele Consumer Behavior General Overview General Overview Was this a threat PST should respond to? Yes, judging by the SWOT Analysis, they should respond by entering the economy market with a separate economy brand. Internal Perspective Own Strengths Own Weaknesses External Perspective • PST has no economy products • Technology and R&D • Patented products • Highest quality • Innovation Opportunities • Diversification • Eco-friendly technology • New adhesive technology • (acrylic, natural rubber) • Growth of economy market Threats • Diversified product portfolio (packaging services) • Decreasing service quality • Premium strategy • No products for • construction • Stagnating • market • Price sensitive customers • Growing construction market • Limited products • Basic services

  2. One Finger Down CristianDohi, Lena Grosse, Nicklas Peele Consumer Behavior General Strategic Recommendations • Market research: • Customer behavior • New usage opportunities • Diversification opportunities • Understanding the buying center • Obtain external quality certificates (e.g. SGS). • Shift of corporate mentality: selling the benefit (safety), instead of product • Improve delivery service to boost customer satisfaction. • More effective sales management & usage of CRM • Include direct distribution • Explore green technology, resealable tape technology, acrylic and natural rubber adhesive tape technology.* • Up- and downstream integration *Epple, T. C. (2013). Evolving Pressure- Sensitive Tape Adhesives. Adhesives & Sealants Industry, 20(9), 18-19. Adams, J. T. (2013). In Pursuit of the Perfect Cover Tape. SMT: Surface Mount Technology, 28(4), 30-34.

  3. One Finger Down CristianDohi, Lena Grosse, Nicklas Peele Consumer Behavior Brand-based Strategic Recommendations K2 Recommendations • Restructure sales: • Key Account Management with specialized services (Direct Sales). • Distributor consultant team • Remuneration scheme focused on repurchase and relationship building. • Build a dedicated sales force for K2. • Distribution: • Introduce incentive programs for distributors. • Co-brand with retailers or service providers (e.g. using and branding K2 adhesive for UPS packages for both B2B and B2C) • Form partnerships with construction firms, since this is a growing industry. • Expansion into other industries (e.g. medical industry with kinesio tape, modern heart disk drives) Cheapo Recommendations • Sales: • Offer only basic services • Dedicated sales force to inform distributors about new product line. • Distribution: • Introduce incentive programs for distributors. • Initiate dialogue with smaller distributors • Form partnerships with home improvement stores (e.g. Home Depot) • Marketing activities geared more towards mass marketing. New brand (subsidiary)

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