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fortis

Query 1)

• Fortis have been facing strong competition: Since 2002, Fortis has been losing nearly 2% per year in the steel strapping market (in 2002 fifty percent and 2008 40%). • Furthermore Fortis is confronted with significant erosion of prices: Different competitors initiated price war and Fortis refused to continuously lower its selling price. This also led to the fact that Fortis loosed business to the competitors. • These effects are in conjunction with the overall weak health of the industrial overall economy and the reality Fortis as well as its opponents are closely tied to this. (Overall fall of industry / demand) and the increasing price hypersensitive of customers. • Strong international player completing the needs of the flourishing industrial economic system abroad leading to fact that Fortis is not as yet ranked beneath the world TOP 12.

Question 2)

• Overall decreasing industrial economy in U. S lead to a decline in demand and high cost pressure within the industry. Given that, Fortis's customers have become more and more cost sensitive and less willing to pay high quality prices. In addition , the continuously increasing stainlesss steel prices ultimately causing higher production costs and impacting product's margin. Other players initiated price battle (price gear of your five to a small portion of Fortis discounted prices) while Fortis refused to continuously minimize its prices, which triggered Fortis to reduce market share to its rivals. Increasing cost sensitiveness of Fortis customers, decreasing market share coupled with low production usage (70%) is increasing a growing number of pressure in Fortis to reduce prices. Furthermore to its standard " 4-8-14” discount, Fortis can easily apply price-flex strategy to be able to selectively meet up with lower competitor prices. Problem 3)

Fortis online marketing strategy focuses on value-added service to clients. Unlike Fortis major rivals, it is not applying price weapons but supplies specialized services and products to meet one of a kind customer needs. In contrast to the majority...

19.08.2019

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