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Syarikat N.K. Lee's market segmentation is they offer tailored services such as providing large quantities of aluminium and glass or installation assistance for the construction industry whereas providing custom window installation and glass repair for homeowners as well as bulk sales or specialised commercial services for business owners who require aluminium frames or glass partitions for their offices.

Their target market are construction industry that require large quantities of aluminium and glass for bulding windows,doors, facades and structural components, homeowners that are searching for custom services such as window installation and glass repair and also business owners that need aluminium frames for the company's office buildings or glass partitions for their offices.

Positioning (STP) of the business is the go-to-choice for custom made aluminium and glass at the most reasonable price compared to other competitors.

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In my opinion, Syarikat N.K. Lee's market segmentation is sufficient and successful in addressing the varied needs of the customers they serve. It is a commendable strategy to fulfil the distinct requirements of each customer category.

In terms of their target market, it is an excellent decision to cater to customers in the construction sector since they are always demand huge quantities of aluminium and glass, and they require help for their large-scale projects. This will ensure that the company is prepared to service its customers and bring its strong name to the table. Taking aim at homeowners is yet another excellent marketing strategy. We are aware that every single person has their own specific requirements and expectations, which is why the company is prepared to offer individualised solutions for homes, such as the installation of windows and the repair of broken glass. The company has effectively met the demands of business owners who are constantly in need of office space by providing glass partitions and aluminium frames for office buildings. This comprehensive strategy will strengthen their position in the market and contribute to the expansion of their business.

However, other markets have more appealing positioning, so they cannot compete or set themselves apart from the competitors, even though their items are the most affordable option.

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For costly operations and expenses, they can conduct a complete assessment of operational procedures to discover inefficiencies and areas for cost reduction. In terms of low positioning (STP), the company can make a strong impression by emphasising the high quality of its products. For example, "the highest quality products on the market".

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To leverage opportunities, the company have to strengthen customer relationships by having loyalty programs where any repeat customers will be rewarded with free gifts or huge discounts for their next visit. This is also to show appreciation for their support and maintain the customers in the business

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Syarikat N.K. Lee needs to stress its Unique Selling Propositions (USPs) if it wants to stand out in a crowded market. Potential customers can understand how valuable their goods and services are by focussing on the specific benefits and unique features of those products and services. This means putting an emphasis on things like high quality, as their aluminium and glass products meet the strictest standards in the business. This will help the business build a strong brand picture and keep customers coming back.

Together with focussing on their USPs, Syarikat N.K. Lee can contact and engage their audience by carefully tailoring their marketing messages to meet the specific needs of each group. For instance, for building companies, the focus could be on how reliable their aluminium and glass products are and how well they can be supplied on a large scale. For homeowners, the focus could be on the ways they can customise and the quality of the repairs and installs. For business owners, it can be important to stress the professional and quick service as well as the ability to make custom solutions for office areas.

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Price competition and client preferences are two aspects of the present competitive environment study for a company that produces aluminium and glass products. The market for aluminium and glass is known to be quite competitive due to the fact that numerous companies sell items that are identical to one another. As a result, Syarikat N.K. Lee must carefully determine their pricing strategies in order to maintain their market position while also ensuring that they are successful. In order to attract clients, it is essential for a company to have a thorough understanding of the preferences of its customers and to provide them with individualised solutions and high-quality products that are tailored to their requirements.

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Identification of Two Biggest Competitors

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Identification of Two Biggest Competitors

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The two biggest competitors of Syarikat N.K. Lee are Leong Seng Glass & Enterprise and Modern Glass that offers similar products. Both businesses are located at Kota Samarahan, not far from Syarikat N.K. Lee.

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Despite the fact that Syarikat N.K. Lee has two of its strongest competitors, the company continues to have a higher demand due to the enormous number of employees they have, as well as the quickest replies and product deliveries they provide because they do not collaborate with any intermediaries. Intermediaries are being utilised by competitors, which results in a delivery process that is more time-consuming. In addition, the competitors do not have large signs of the company to promote themselves, which is something that Syarikat N.K. Lee does as part of their comprehensive marketing strategy.

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To stay ahead of the competition and appeal to a wider audience, an aluminium and glass product line that includes high-strength alloys, energy-efficient windows, and smart glass solutions can be a great way to broaden the business customer base and satisfy the growing demand for sustainable and technologically advanced materials. Customers' experiences can be even better with the help of loyalty programs and after-sale support, which can lead to stronger connections and more purchases.

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Existing Marketing And Promotion Strategy

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Existing Marketing And Promotion Strategy

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Their business marketing and promotion plan involves placing posters about their products and services on their truck so that people can see them. Not only that, but they also posted large banners on the company's gates so that everyone knows what they're offering and can refer to them. Not to add the smart idea of having large signage for the business beside the road so that as drivers pass by, people can still see and acknowledge that the business exists.

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Using large roadside advertising as a marketing tactic can be exceptionally effective for various reasons. Elevated visibility guarantees that the signage attracts the attention of a substantial number of passersby, so enhancing brand recognition. Local targeting efficiently engages clients inside the community, delivering prompt information regarding proximate businesses. Although the initial expenditure may be considerable, roadside advertising proves to be economically advantageous in the long run, serving as a continuous advertisement with negligible recurring expenses. Effectively designed signage enhances brand recognition, increasing the likelihood that prospective customers will select the business. Optimal positioning at high-traffic crossroads or highways enhances effectiveness, while adaptable messaging facilitates diverse promotional initiatives. The incorporation of calls to action fosters prompt customer connection, enhancing other marketing initiatives and establishing a unified, multi-channel strategy. By using these advantages, firms can improve visibility, draw local customers, and enhance overall marketing initiatives, resulting in heightened brand awareness and increased revenue.

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The organisation does not possess any online marketing platforms, as they have conducted an adequate amount of external advertising.

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Proposed Promotion Strategies (Online And Offline)

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Proposed Promotion Strategies (Online And Offline)

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Syarikat N.K. Lee can advertise their business online by creating social media platforms such as Tiktok, Instagram and Facebook, putting any relevant up-to-date informations on there so wide customers base will reach them out including those that are outside of Sarawak regions. This will open the opportunities of Syarikat N.K. Lee. As I mentioned, collaborating with a social media manager company will boost the positive impacts.

As for promoting offline, the company can hire employees to send out flyers to the people at shopping mall or any open areas.

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Value-based pricing determines product prices according on their perceived worth to the consumer, rather than exclusively on expenses. High-strength aluminium alloys typically bring higher pricing, but low-strength aluminium alloys are priced lower due to their reduced strength and durability. This method is especially appropriate for specialised and premium aluminium products, where product differentiation is present. For instance, aluminium products A and B may share the same model size; but, if product A employs a high-strength aluminium alloy while product B utilises a low-strength aluminium alloy, their pricing will vary appropriately. This method may result in increased profit margins when buyers regard these aluminium items as significant or high-value. Nonetheless, substantial marketing initiatives are necessary to successfully convey the value and quality of these aluminum-related items to consumers.

Tiered pricing for product segments involves categorising aluminium items into different price categories depending on parameters including aluminium alloy grade, purity, alloy composition, and dimensions. This pricing structure is especially appropriate if the company has a variety of items for diverse uses and can effectively promote each tier. Through the implementation of tiered pricing, the corporation may expand its consumer base by providing a range of aluminium products at diverse appealing price levels. This strategy accommodates both cost-sensitive consumers and those desiring high-end alternatives, thereby addressing a variety of client needs and preferences.

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Syarikat N.K Lee uses a distribution system use its own trucks to carry products directly to customers, offering door-to-door service to both stores and households. They utilise no intermediaries for the distribution of things or services to clients, as this approach is cost-effective and allows for more flexible scheduling, enabling delivery when the products are prepared. Utilising intermediaries will merely escalate expenses and reliance on external entities, thereby jeopardising the company's reputation and performance in the event of issues such as inadequate handling, packaging, or delayed delivery.

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A monthly budget of around RM20,000 to RM30,000 is designated for Syarikat N.K. Lee to acquire and prepare the raw materials utilised in the manufacturing of their aluminium and glass products. This budget includes various essential expenditures that contribute to the total manufacturing costs. The expense of electricity and other energy sources essential for production operations is a crucial factor, considering the energy-intensive characteristics of aluminium and glass manufacturing. Moreover, labour expenses are crucial, since competent people are required to operate machines, oversee production processes, and maintain quality control. Transportation charges contribute to overall costs, as raw materials require transportation to manufacturing sites, frequently presenting logistical obstacles and expenditures. The big budget underscores the necessity of identifying cost-cutting measures to enhance overall profitability. This may entail optimising energy use, negotiating improved terms with suppliers, reducing labour and operational procedures, and increasing logistical efficiency to minimise transportation costs. By focussing on these aspects, Syarikat N.K. Lee can optimise its budget utilisation and enhance its financial performance.

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Marketing budgets cover everything from creating and delivering promotional materials to the actual cost of running direct mail campaigns and outdoor advertising like billboards, banners, and roadside signage. Brochures, business cards, and other miscellaneous marketing expenses include things like gathering client insights through focus groups and surveys. Key performance indicators (KPIs) including customer acquisition cost (CAC), return on marketing investment (ROMI), conversion rates, and customer lifetime value (CLV) are utilised to evaluate the effectiveness and ROI of various marketing initiatives. To find out which marketing activities are worth the money and to make sure that marketing resources are being used wisely, a cost-benefit analysis compares the expenses with the advantages of each channel.

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Recommendation For Marketing Cost Adjustments

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Recommendation For Marketing Cost Adjustments

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Continuously monitoring the success of marketing efforts and being adaptable in making changes in response to real-time data and insights are crucial for optimising marketing expenditures. Continuous monitoring like this paves the way for quick adjustments that boost efficiency and productivity.

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In conclusion, Syarikat N.K. Lee is a profitable company that supplies aluminium and glass items to a diverse customers, including the construction sector, homeowners, and business owners. Their strategic positioning next to the road is used by prominently displaying a large business sign to boost brand recognition and attract clients from various categories. This constitutes their effective marketing strategy. They operate independently, avoiding intermediaries for product delivery to customers, since they feel this method is more convenient and allows for immediate delivery of completed items. Despite the presence of competitors, they remain an outstanding and unrivalled solid due to their customer services and effective marketing approach. Over the next five years, Syarikat N.K. Lee plans to expand its operations to include cities such as Kuala Lumpur, Pulau Pinang, and Sabah, and to establish social media channels to enhance its global brand presence.

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Putting more of an emphasis on how their clients perceive their products and brand is something that Syarikat N.K. Lee need to do. Instead of focussing exclusively on marketing themselves as the best option for the most affordable price, they can concentrate on establishing a strong impression of their organisation as a leading source of high-quality aluminium and glass. By highlighting characteristics such as great quality, outstanding manufacturing, and unmatched customer service, they will be able to differentiate themselves from their competition and construct a reputation that is more engaging. By taking this technique, a long-lasting impression will be created, and clients will be convinced of the distinct benefits that come with selecting Syarikat N.K. Lee for their requirements.

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Using the power of social media to promote the company and the products or services that they provide is essential in order to effectively market against other businesses in the same industry. These days, everyone is on social media, and it is a smart idea to hire a social media manager who will handle advertising their business on social media platforms like Facebook, Instagram, or Tiktok with a lot of content that is interesting and engaging. Many videos of businesses are viral on social media and their businesses got a lot of welcoming customers along with increasing the business profitability. The pictures above are the examples of social media manager company that handle marketing of businesses in Sarawak, not just reviewing food or cafes but also hardware and any other businesses too.

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Syarikat N.K. Lee has the ability to apply strategies throughout all four sections of the Ansoff Matrix in order to boost growth and market share. For market development, the company can build new business branches in other Sarawak regions or extend worldwide to promote brand recognition and product sales. Expanding into new geographical markets will increase visibility while also tapping into fresh customer bases. Syarikat N.K. Lee can improve market penetration by working with a social media management business. This strategy will increase sales of existing aluminium and glass products to present building industry clients, homeowners, and business owners without changing the products. By properly utilising digital marketing channels, the company can reach a larger audience and strengthen consumer loyalty. Product development requires the introduction of innovative items such as smart glass systems or energy-efficient windows that are compatible with 21st-century technology breakthroughs. These revolutionary products have the potential to significantly reduce costs while also meeting changing client demands. Finally, to diversify, Syarikat N.K. Lee can focus on the automotive business, which has a significant need for lightweight materials. Aluminium is an excellent material for a variety of automotive components, and by entering this industry, the corporation may diversify its revenue streams while reducing the risks associated with reliance on a single sector. Implementing these measures will position Syarikat N.K. Lee for long-term growth and competitive advantage.

Over the span of the next five years, Syarikat N.K. Lee plans to expand its business operations beyond the borders of Sarawak. This expansion will take place in cities such as Kuala Lumpur, Pulau Pinang, and Sabah, all of which have extensive populations. It would also be necessary for them to establish social media platforms in order to advertise their company on a global scale.

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Syarikat N.K. Lee strengths are it has gained a solid reputation by catering to a wide variety of consumers. As a result, the company has established itself as the most reliable option for purchasing aluminium and glass items of the highest possible quality at the most affordable costs. The fact that the organisation is able to offer a limitless number of individualised solutions guarantees that they are able to fulfil the particular requirements of each individual customer. Through their unwavering commitment to meeting the requirements of its customers, Syarikat N.K. Lee has firmly established itself as a dependable and trustworthy provider within the sector.

However, the challenges that Syarikat N.K. Lee encounters include expensive operations and expenses, which can have an effect on the company's overall profitability. In addition, the company's current positioning strategy (STP) is not particularly potent, which may make it more difficult for the company to successfully draw in and retain customers. The enhancement of their positioning by putting an emphasis on their strengths, such as providing great customer service and high-quality products, can assist them in distinguishing themselves from their competitors and developing a more attractive branding image.

Syarikat N.K. Lee is in control of a number of excellent opportunities that can be relied on. Customers are showing a growing demand for high-quality aluminium and glass products, which gives a huge opportunity for the company to expand its operations. Additionally, they are able to have a diverse consumer base and different revenue streams as a result of their extensive ties with the building sector, company owners, and homeowners. Syarikat N.K. Lee is well-positioned to readily serve an extensive geographical region, which enhances accessibility and convenience for their customers. This is made possible by location, which is strategically located. The company has the potential to both strengthen its presence in the market and achieve continuous growth if it takes advantage of these opportunities.

The market position of Syarikat N.K. Lee is exposed to being affected by a number of potential threats. There is a possibility that competitors will develop positioning (STP) tactics that are superior and more engaging, which may result in customers leaving. In addition, the introduction of new competitors in the sector is a problem since these new competitors may offer new goods or services that are in direct competition with those that Syarikat N.K. Lee offers. In order to protect itself against these dangers, the company must continually work to strengthen its own positioning and remain one step ahead of the trends in the industry.

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On 9th November 2024, our group, Market Minds, paid a visit to Syarikat N.K. Lee and conducted an interview with Madam Lee Zi Hao, the business owner of the company. Before the day of the visit, my group and I got together for a meeting to talk about the questionnaires and divide up the tasks amongst ourselves. Upon our arrival at the location at precisely eleven o'clock in the morning, we were given a tour of the business by Madam Lee Zi Hao. We took photographs of the miniatures as well as the samples of the raw materials that were used in the production of the product. She provided a very excellent explanation of the products and services that they offered, as well as answers to the queries that we asked regarding the company. Before bidding Madam Lee Zi Hao farewell and expressing our gratitude, we snapped a group photo.

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The company we have chosen is Syarikat N.K. Lee. It was founded in 2015 as a home-based welding service provider. Over time, the company expanded into the aluminium industry and gradually increased its services. Today, it includes the wholesale of construction materials, machines, and other services. The company offers a wide range of services, including management consultancy, wholesale building materials, hardware, plumbing and heating supplies, and machines and other equipment. Syarikat N.K. Lee is open daily from 8:00 a.m. to 5:00 p.m., except on Sundays. For more information, people can reach out to them at 016-882 1198.

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The vision of Syarikat N.K. Lee is they want to be the top supplier of premium, environmentally friendly glass and aluminium solutions, thereby producing dependable and fashionable building materials that surpass consumer expectations. Not just that, Syarikat N.K. Lee intends to set another vision to increase their market and construct a showroom shortly.

Whereas the mission of Syarikat N.K. Lee is to provide creative, various design alternative and better quality aluminium and glass goods that satisfy changing needs of our clients.

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Figure 1 : Raw material for the product  

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Figure 1 : Raw material for the product  

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These are direct raw materials which are essential components in the manufacturing process and present in the finished goods.

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   Figure 2 : Raw material of the product

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   Figure 2 : Raw material of the product

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Raw materials they commonly used are aluminium as well as glass.

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The finished goods are essentially window frames.

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The samples of window frames they did for their customers.

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The swing door with fix glass at side.

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They offer door-to-door delivery of the products to the customer by using the company's lorry without using the involvement of third party.

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The company's primary goal is to attain sustained profitability by providing products and services that surpass client expectations. The company's strategy involves developing products or services that consumers find valuable in order to comprehend their desires and requirements, specialises in delivering premium aluminium and glass services. They concentrate on manufacturing robust, lightweight frames suitable for windows, doors, and building facades. By emphasising these high standards, the company aims to produce sustainable profits while garnering appreciation and cultivating robust connections with consumers that prioritise dependable and aesthetically pleasing building supplies.

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Market Minds_Natasha Dania binti Manlasit

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10.1.c List of questions asked during the interview

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10.1.c List of questions asked during the interview

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10.1.2.a Two minutes of meeting