Market Research Essay: SUHR Cutters A/S Case Solution & Answer

Market Research Essay: SUHR Cutters A/S Case Study Solution

Purpose of the study

The report sets out to investigate the type of information that is needed to be gathered regarding the customers in a new market and the competitive pressure, with an inclusion of theenvironmental identification of the new market. With reference to older offerings, the report shows the plan that how can SUHR Cutters A/S offers new products in the market.

The success of every organization depends on customer satisfaction as it plays a key role in expanding the market value. Meeting the expectations of customers through having an in-depth understanding and knowledge of what they desire & expect, leads the company towards the path of success. This demonstrates that delivering beyond and above on every value point of customer value spectrum in components, such as: price, image, quality and service, which in turn determine and affect the customer satisfaction.

The development of machines with advanced features is anticipated to be the main trend that tends to drive the market’s growth in the near future. Offering innovative & differentiated services to customers helps the company to demonstrate goodwill, attract a larger number of companies, differentiate from the competitors, and cater to the customers with exceptional services.

Market Outlook

Asian Countries

Asia is considered to be the key hub for the textile manufacturing industry and Asian countries play a significant part in the global textile front. The textile industry in Asia is transformed into the full-fledged industry. The Asian countries are full of manpower as well as natural resources, which in turn help in making high quality textile at reasonable rates. The major growth drivers include: changing patterns in consumption, increasing population of the country followed by increased disposable income and rising demand for clothing. In Asian countries, the textile manufacturing industry is a capital and labor intensive industry. Hence, the cheap labor and lower cost of production are the key reasons for the textile industry growth& development, specifically in Asian countries.

Two Asian countries – India and China dominate the global textile industry and are considered to be the fastest growing economies all around the globe. With an increased buyer power of the emerging middle class – China remains central to the textile & fashion with 28 percent of the growth in the upper class and upper middle class household in the year 2025. Furthermore, it is estimated that India would become the third largest apparel market in the world by the year 2030, with significant expenditure on cloths forecasted to be doubled by 2030. Growing at 9 percent rate in the year 2016, Indiais leading anemerging market as well as the fastest growing country for apparel and fashion, India and china would be well-positioned to spearhead the revolution of ethical revolution – assuming their attitudes would remain same towards sustainability (Lam, 2016).

In addition to this, the substantial shift in the perception of customers for comfortable and affordable clothing tends to rise the demand for high-value fabrics, hence opening up new growth opportunities and markets in the near future. Also, the textile manufacturing industry is the main source of revenue generation as it creates employment opportunities for its people.

Taking into consideration other Asian countries, Bangladesh is estimated to add 8 percent to its gross domestic product (GDP) on the back of increased investment in low-cost garments and textiles. Since 2011, the country has grown at a rate if 6 percent is per year. The higher living standard and domestic demand add to the growth of the south Asian country.Moreover, the consumer spending and infrastructure outlay tend to raise the GDP of Myanmar and the economy of the country has expended over the past three years at more than 6.5 percent per year (Jennings, 2019)……………………….

 

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