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论文题目：荷兰市场营销硕士毕业论文：Literature Review部分
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论文专业：市场
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论文用于：Master Dissertation 硕士毕业论文
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荷兰市场营销硕士毕业论文：Literature Review部分
Chapter 2 Literature Review
2.1 Introduction
The Chapter 1 introduced the background information about this study. The http://www.ukassignment.org/gjsc/ problem definition and research purpose were mentioned. The information about company，DaTong was presented. The Chapter 2 will research the machinery lease industry, then explore machinery lease market and give an analysis of customer. Finally, group strategy will be presented.
1章介绍了本研究的背景信息。问题的定义和研究目的进行。关于公司的信息，大同市提出了。2章将研究的机械租赁行业，然后探讨机械租赁市场，给客户分析。最后，集团将战略。
2.2 Types of Machinery Leasing
Contemporary leasing has increased greatly since the world war two. Expensive equipments such as aircrafts, ships, and construction equipments are the main constitution of contemporary leasing.
From the point view of lessee, contemporary leasing can be divided into financial leasing and operating leasing.
According to the process of leasing, it can be figured as direct lease, sublease and leaseback.
According to the number of lessors, it can be divided into single-investor leasing and leveraged leasing.
2.2种类型的机械租赁
现代租赁二战以来大大增加。如飞机，船舶和昂贵的设备，施工设备是现代租赁的主要构成。
从承租人的角度来看，现代租赁分为融资租赁和经营租赁。
根据租赁的过程，它可以表示为直接租赁，转租回租。
根据出租人的数目，它可以分为单一投资者租赁和杠杆租赁。
2.2.1 Financial Lease
A financial lease is a type of lease and it is a commercial arrangement where: the lessee will select the equipment, vehicle, or software; the lessor will purchase that equipment; the lessee will have use of that equipment during the lease; the lessee will pay a series of installments for that equipment; the lessor will recover a large part or all of the cost of the asset plus earn interest from the rentals paid by the lessee; the lessee has the option to acquire ownership of the asset. In the process of lease, the finance company is the legal owner of the equipment during duration of the lease. However, the lessee has controlled over the equipment providing them the benefits and risks of ownership.
Contemporary machinery aims to finance and that is the nature. Financial lease is the most typical form of equipment leasing. When enterprises need lots of money to buy certain equipment, the suitable way is to choose financial leasing in order to improve the financial condition.
2.2.1.1 The Feathers of Financial Lease
1. Supplier of equipment must be chosen by the lessee.
2. There are at least three organizations and two contracts to be signed.
3. The time of leasing is often long and the rent is paid off totally.
4. Once a contract is signed, absolutely it can not be cancelled.
2.2.2 Operating Lease
Operating lease is a lease whose term is short compared to the useful life of equipment being leased. An operating lease is commonly used to acquire equipment on a relatively short-term basis. The lessor has the responsibility of repairing rental machinery. This type of leasing is also called service leasing.
In the past, most of airplanes are bought in cash or bank loan. However, since 1980’s, operating leasing has been more and more popular. Leasing company lease airplanes to airline, and after the contract is over, airline gives the airplanes to leasing company. In 1990’s operating leasing account for 22% in airplane market, but now it has grown to 40%. In Asia, Africa and Middle East, the airplanes that are bought through banking system are approximate 120 billion dollars. Obviously, operating leasing will have a great potential in this market.
As for China, now China owns 850 airplanes and with China’s economy increase, lots of airplanes need to meet the strong market demand. In 2012, there are 25% of airplanes which belong to operating leasing. However, overall leasing companies are almost controlled Chinese airplane leasing market, behind the strong market demand.
2.2.2.1 The Feathers of Operating Leasing
1. The time of operating leasing is not long.
2. The contract can be cancelled at anytime.
3. The rent is not paid off at one time.
4. The rent is often expensive.
2.2.2.2 Differences Between Financial Leasing and Operating Leasing
Financial lease can offer financial assets and make companies get expensive machinery when companies is lack of money. Therefore, financial leasing help companies avoid commercial risk and catch every opportunity. While, operating leasing provides assets to those companies that just need to use equipment, but don not intend to own it, especially the high technological equipment.
2.2.3 Leveraged Lease
In a leasing transaction, if the equipment is owned totally by the lessor, this type of lease is called single-investor lease. If the lessor spent just a little money, and the banks offer loans, this is leveraged lease, or it is called third-party equity lease. The fund that is used to buy the assets comes from lessor and banks. Commonly, lessors just account for 20%-40% in the total rent, so in leveraged lease, there are at least three sides that are involved: loaner, lessor, lessee. According to law the lessor has the ownership of equipment, but the ownership of assets is pledged to the bank in order to get its loan. Leveraged lease has a great popularity in developed countries, for lessors can benefit from tax-cut.
2.2.3.1 The Features of Leveraged Lease
1. There are at least three parties: a lessee, a lessor and lenders( debt holders).
2. The lender is without the resource to the lessor. When the lessee is unable to pay or refusal to pay rent, the lender can only terminate the lease, and to compensated through the auction equipment, while not entitled to the lessor recourse.
2.2.3.2 The scope of Application of the Leveraged Lease
This type of lease applies to large-scale, long-term and more than a few million dollars leasing, such as: aircraft, pipeline, offshore oil drilling platform and satellite system, etc. Recent years, leveraged lease has a great development, mainly in America, Japan, Australia and New Zealand.
2.2.4 Leaseback
The equipment of lessee is sold to the lessor, and then the lessee rent back equipment from the lessor. This type of lease is so-called leaseback.
2.2.4.1 The significance of leaseback
Leaseback is very favorable to the enterprise and it is used to improve its financial position when enterprises are in lack of finance. Lessee can fix assets into cash and then invest in other business, but at the same time he can continue to use the asset over the lease term. In addition, corporate profits and depreciation in the sale of the assets has been recovered.
2.2.5 Sublease
Equipment leased by the leasing company from the foreign leasing companies is rented by a domestic enterprise. When its borrowing capacity is weak and lack of underdeveloped financing techniques, a leasing company often use sublease in order to facilitate the financing.
2.2.6 Comprehensive Lease
This lease is closely linked with the international trade. The following are the three types: (a) the combination of leasing and compensation trade. (b) the combination of the lease and the processing and assembly operations. (c) the combination of lease and export credit.
2.3 The Background of Machinery Leasing
Machinery leasing is an industry that caters for the demand of machinery. In machinery leasing, the lessor provides machinery according to the specific requirement of the lessee on lease object and supplier selection, and the lessee uses the machinery during the renting period, but it has to pay for it.
Modern machinery leasing began to boom all over the world after the world war two. After world war two, the global economy have a greatly increase, due to many countries’ development especially the developing countries, modern machinery have ever increasingly developed. For example, in Asia and Africa many independent countries are anxiously developing their infrastructure, such as electric power, cleaning water system and roads construction. Rental business areas cover heavy, expensive construction equipments, airplanes, ships and so on. However, modern machinery leasing is different from earlier one, modern machinery aims to finance and that is a notable characteristic.
2.3.1 The Introduction of DaTong Co., Ltd’s Machinery Leasing in Africa
Now Africa is a booming market. Lots of developing countries are increasingly trying to build roads, airports and railroads, so there is much room for DaTong to develop. Therefore, DaTong Co., Ltd decided to develop its own machinery leasing business in Africa. As its construction machinery is the top of the world among DaTong’s products, DaTong has made decisions that using construction machinery as the main products to enter Africa market.
2.4Marketing Analysis#p#分页标题#e#
2.4.1 Marketing Analysis Tools
PEST analysis
The word PEST consists of initial letters of political, economic, social, and technological. Through it decision makers can totally understand the macro-environment. The macro-environment is so changeable and complicated that corporations can not often research it clearly. However, no one doubts that the external marketing environment is significant in the process of planning marketing strategy, because its influence on corporations’ development and existence is actually great. The analysis should offer the current situation of politics, economy, society, and technology. In other words, PEST analysis can make macro-environment show its strengths and weaknesses. Traditionally, its PE parts namely political and economic part, are the most important parts in PEST analysis, because political situation and government policies or regulations, or other industry laws are closely linked with companies’ business; economic measures, employment rate, economic growth rate, and infrastructure are also the basic factors that are surely indispensable in companies marketing strategy. However, recent years many cases happened showed businessmen that as globalization is ever increasingly developing, more and more business conflicts are mostly the social or cultural conflicts, so in this paper much more attention will be paid to social part, though political and economic factors can not ignored.
SWOT analysis
In 1957 Selznick first used his idea of matching external and internal factors so as to attain the overall and true opinion of the situation. Since then, his idea has been widely spread. Also due to Christiansen and Andrews who made the idea a scientific method, SWOT analysis was accepted by the public.
SWOT consists of the initial letters of Strengths, Weaknesses, Opportunities and Threats. This analysis contains all positive and negative factors that may influence one company’s existence. In its broad systematic view, the most important issues are how to use strengths, and how to stop the function of weaknesses, and how to catch every little opportunity, and how to try to avoid the potential threat. SWOT analysis is an acknowledged system, in which each point is absolutely equal to another one. Therefore, a company can not put too much attention to a certain issue and ignore other issues. For instance, so as to fight against the potential threats or weaknesses, a lot of attention was paid, and the outcome is the increase of cost. In other words, if money is vested in supporting strengths and using opportunities, a balanced system would occur. In this paper, SWOT analysis will be used to help companies get external and internal details about machinery market.
Porter´s Analysis of Five Forces
This type of analysis gives a better overview of a certain industry. The five factors are the environmental forces that impact a company’s ability to compete and develop and even exist in a given market. As for their strength and importance, the main competitive factors are described through this analysis. There are four main forces that impact the competition of leasing industry. They are new entrants, suppliers, buyers, substitute products. These four forces drive industry competition. That is Porter’s competitive marketing strategy( techniques for analysing industries and competitors with a new
introduction, p. 4).
Balanced Scorecard
Kaplan and Norton fist came up with this tool in 1992. Balanced Scorecard is very comprehensive in terms of key performance and long-term orientation. Its four fields namely financial, customers, business processes and learning and growth, indicate a company’s potential for success in the changeable marketing competition. If leaders of a company intend to get a clear understanding about what strategy and vision of the company, there are four fields (objectives, targets, measures and initiatives) that must be researched. Traditionally, much more attention is paid to the financial and customer fields, though the internal process and growth are also significant. The four fields often impact the company’s marketing strategy. If high technology does not exist, there is no modern business activity. For instance, the development of telecommunication and computer give a chance for international business. The use of Balance Scorecard is also widely made this way easier. We would like to point out the importance of CRM software which enables BS analysis, mainly in the customer and financial fields, but contributes also to learning how internal business processes work.
BCG (Boston Consulting Group) Matrix
BCG Matrix as a tool is often used compared with other tools, for its lots of weaknesses outweigh its strengths. First, it is not always applied to a small unit. Second, its system inside is too simple when company intends to confront the complicated marketing issues.
GE Matrix
The consulting company McKinsey & Co. first used this tool to evaluate business. The evaluated fields are industry attractiveness and industry strength. The GE Matrix is very different from the BCG Matrix, because it contains nine fields instead of four and the contents are also different. It uses industry attractiveness and industry strength to research market. Market attractiveness can be evaluated on its growth rate of market, size of market, nature of competition and its diversity, demand variability, profit margin, global opportunities, impact of technology, law and environment. There are many feathers in the factors, such as market share, management profile, quality and distribution, promotion and cost reduction. Obviously, all of these have a great influence on the company marketing strategy. However, GE Matrix has some problematic issues, for it can not solve all possibly questions. First, it ignores a fact that this tool is too subjective and it could not evaluate any factors. Second, this kind of analysis dose not present people how to operate it.
Shell Directional Policy Matrix
The last one is Shell Directional Policy Matrix. It suggests using a company´s competitive ability and prospects to evaluate sector profitability.
According to a study carried out in the UK, lots of companies try to use this decision-making method to make marketing strategy. This kind of analysis contains the following fields: growth, cash generator, phrased withdrawal and divestiture. In a word, Shell Directional Policy Matrix is another version of BCG Matrix.
2.4.1 Market of Machinery Lease
Since World War Two, contemporary leasing has obtained more and more popularity in global business. From the view of the whole world, machinery lease market, developed countries has almost controlled global machinery lease. The following will present an analysis of machinery lease market.
2.4.2 Division of Market of Machinery Lease
According to the different locations, machinery lease market can be divided into the following parts.
Oceania market
Oceania market is the most important constitution of machinery lease market. It is famous for its rich mineral reserves. Australia’s mineral resources are an important component of the nation’s wealth.
At December 2008, Australia had the world’s largest economic resources of brown coal, mineral sands. Australia's mineral resources are adequate to ensure that the mining sector continues to hold the potential to remain the most important export earning sector of the Australian economy for the foreseeable future. World economic increase in recent years, particularly in China and India, has increased demand for mineral products worldwide. In the future, mining industry will still increase at a high speed. For some years Australia has been the world’s largest exporter of black coal, iron.
Therefore, equipments which are able to offer service of mining share a large sector in machinery lease. Excavators and forklifts and bulldozers are main equipments in machinery lease. Oceania market shares more than 30 percent of global machinery lease market. For instance, in 2011 China invested 20 million dollars in this field, accounting for 45 percent of its total global investment.
America market
America market is another major market in global machinery lease market.
In North America, in order to tell the difference between the agents and leasing companies is very difficult. These two types of companies to provide the amount of daily rental of their equipment, lease equipment, transfer the lease of equipment. The third quarter of 2005, AED questionnaire was sent to engaged in earthmoving, commercial buildings, residential buildings. The survey found that in 2005 99% of the equipment agents engaged in the leasing business, in 2001 lease survey, 20% of agents said they have an independent leasing business, and in 2006 only 6% of the agents.
Sublease has been slowly accepted and practiced. 74% of the agents rented equipment to users by the leasing company. Typical agents on medium-sized equipment rental operations accounted for 13 percent of annual income, and the average ratio of all agents is 16%.
Earth-moving equipment is the most common equipment in the leased equipment, and the rental proportion of equipment are following: Skid steer loaders (68%), small excavators (67%), followed by backhoe loaders (65%), the excavator more than 100hp (60%), and roller / compactor (60%).
Africa market
In world economy, Africa is the poorest region, because of its long history of invasion by western countries. Therefore, in African countries most of them are not wealthy ones, of course except South Africa. Machinery lease in Africa market is booming since 1980’s, due to the strong desire to develop its own railroad, highway, airports and electric system, large number of projects has been built. The large-scale constructions are numerous opportunities for leasing companies. Equipments that are used to develop infrastructure are most needed in Africa lease market. #p#分页标题#e#
2.4.3 Analysis of Characteristics of African machinery rental Projects
The characteristics of African machinery rental projects are following.
Infrastructure constructions are the main projects in Africa, because many places in Africa are very poor and backward. Among these projects, railroads, highways, buildings and airports account for more than 80 percent of total constructions.
There are some differences in north of Africa and south of Africa. North of Africa is much developed than the south, so these countries’ infrastructure is better than south, so machinery lease market is not as good as the south.
When leasing companies decided to enter Africa market, much attention should be paid to the political stability. Poverty, hunger and wars are very common in this region, so to choose a right place of investment means security of finance.
2.5 Analysis of Customer
This part will provide acknowledge for further use of CRM concept in practice. Paying mention to approaches to this method, existing experience, benefits and problems to choose its correct place in marketing strategy proposal. CRM may support different strategies, whether it be product, price, place or promotion oriented strategy.
Success of any of the above mentioned strategies a company would like to choose will greatly depend on how well this company knows its customers and how forthcoming will it be. Some successful companies observe customers using their own and competing productsa and train salespoeple to be on the lookout for unfulfilled customer needs. CRM is a method suggesting how to manage all these activities with the prospect of gaining relevant information.
2.5.1 Constitution of Customer
In African machinery lease market, the constitution of customer is three parties: government, private companies.
Now government is the most important customer in this field. Lots of projects belong to public construction, so the owner and supervisor is government. As for leasing companies, government as a customer is more secure, because it often has enough funds and secure measures ensuring projects can be done.
Private companies are another constitution of customer. As some African countries http://www.ukassignment.org/gjsc/ economy increase, more and more local private companies need machinery lease service. In the future, this customer group will be the main involvement.
2.5.2 Constitution of Potential Customer
2.5 Analysis of Competitor
2.5.1 Strategic Groups
2.5.2 Strategic Group Map
2.5.3 4P’s Analysis
2.5.4 Extended Rivalry ( 5 Competitive Force )
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