Discuss Marketing Research of Trinity Industries Inc. within the Marketing Research ( MR ) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Trinity Industries Inc. (NYSE: TRN) is a company that owns a variety of market-leading businesses which provide product and services ...
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Marketing Research of Trinity Industries Inc.
Marketing Research of Trinity Industries Inc. - April 8th, 2011
Trinity Industries Inc. (NYSE: TRN) is a company that owns a variety of market-leading businesses which provide product and services to the industrial, energy, transportation and construction sectors.
Now, the company has five business groups which are Rail Group, Construction Products Group, Inland Barge Group, Energy Equipment Group and Railcar Leasing & Management Services Group.[nce of many potential suppliers which exists in the industry (12Manage 2009). In terms of the case of Peninsula group, the supplier has a moderate power because of the fact that there is huge number of suppliers in the hotel industry in the world. Aside from that, products and services by the different suppliers are almost similar, that gives the company the freedom to substitute.
2) Buyer Power – or known as the bargaining power of the customers or buyer focus on the idea about how strong is the position of the buyers as well as the possibility of working together in ordering large volumes of products (12Manage 2009). It is important to consider that there are different factors that must be considered in analyzing the bargaining power of the buyer. First is that the population of the buyers in the industry, the bigger the number of the buyers or customers, the lesser the influence or power of the buyer, because of the fact that the group will be able to focus or target more number of buyers. On the other hand, it is important to focus on differentiation and standardization of the products, in the case of the group, there are different direct and indirect competitors in the hospitality industry, and thus it enables the buyers to have the ability to substitute. However, the edge of the group focuses on the high demand for quality and services.
3) Competitive Rivalry – the rivalry among the existing players in the hotel industry in the world is strong. This is because of the growing number of players at the same time, low differentiation of the products and services that are being offered. However, the main advantage of the group focuses on the loyalty of the customers, at the same time, the image that was held by its brand for a long time.
4) Threat of Substitution – focus on the how easy a given product or service can be substitute, especially when it was made cheaper (12Manage 2009). In the case of the company, the threat of substitution is somewhat high, because of the presence of some cross-product substation such as cheap motels and houses for rent.
5) Threat of New Entry – pertains on how easy or difficult it is for a new entrant to start competing. In the case of the group, it will be hard for the new entrant to enter the industry because it is expensive to enter the hotel industry, due to high initial capitals, at the same time; experience is needed, together with the presence of some economies of scale. The group can also create some cost advantage, because it was already in the business for the long time, thus it some control over its pricing. Above all, the group has an advantage in terms of image, loyalty of the customers and access to different vital technologies and skills.
Euromonitor International has evaluated the potential impact that the earthquake and tsunami in Japan may have on tourism flows, using past crises as a guide from H1N1 to SARS.
Working within the framework of reviewing former disasters, Japan is likely to experience a drop of 50% or more in international arrivals in the immediate aftermath of the disaster, a trend which may be perpetuated as long as the nuclear crisis continues.
* Euromonitor International believes that the best case scenario for Japan in 2011 is a 9% drop in arrivals and a 12% decline in incoming tourist receipts. The worst case scenario for inbound tourism would be a decline of 21% in arrivals with a corresponding drop of 23% in receipts.
* The best case scenario for international departures from Japan is a decline of 11% in 2011, with spending falling 8%. In the worst case scenario, departures would fall by 21% and outgoing tourist expenditure by 17%.
* International travel is expected to be more affected than domestic tourism which tends to be more resilient.
Unprecedented scale of destruction
A 9.0 earthquake struck off the north-eastern coast of Japan on 11 March 2011, which triggered 10m high tsunami waves that engulfed towns and villages along the coast. As of 23 March, the death and missing toll was officially over 25,500, but it is expected to increase.
Following the earthquake and tsunami, several nuclear power plants were severely damaged, leading to electricity blackouts. The Daiichi nuclear power plant in the Fukushima prefecture sustained significant damage.
As a result, several explosions occurred at the facility which caused plumes of radiation to be emitted. Cooling of the plant is also forcing workers to vent steam with radioactive particles.
The wind carried radiation eastward over the Pacific Ocean and south to Tokyo (a distance of 240 kilometres/150 miles) and to surrounding cities. The situation regarding the Fukushima power station is changing on an hour-by-hour basis as attempts to contain a meltdown continue.
At the beginning of the week of 21 March, things appear to have stabilised with the power supply being up again, thus igniting the possibility of powering up the coolers to keep the nuclear reactors under control. That said, the relevant authorities have not reduced the severity with which they have assessed the potential nuclear threat from the plant.
To make matters worse, the country has experienced more than 450 aftershocks. The disasters have caused shortages in water, food, fuel and electricity further adding to the critical nature of the humanitarian crisis.
On 21 March, the World Bank estimated that Japan would need at least five years to rebuild the country at a cost of US$235 billion as a result of the earthquake and tsunami's devastation. With the potential nuclear threat remaining in the background, a big question mark is being cast upon the country's prospects with the future unclear for now.
Fears of a nuclear disaster
While countries issued non-essential travel warnings immediately after the earthquake and tsunami hit, the increasing risk of a nuclear meltdown and unpredictable wind patterns have caused many countries, such as the US, UK and Australia, to raise their warning levels on 17 March 2011.
The US government urged citizens within 50 miles of the Daiichi plant to evacuate the area and recommended that its citizens leave the country. France, Germany and China were also among the countries to advise their citizens to leave Japan.
On 18 March, Japan's nuclear safety agency increased the threat assessment from 4 to 5 on the international scale of 7. For example, Chernobyl's meltdown in 1986 rated a 7.
These warnings are being heeded with many expatriates heading abroad, either home or to nearby cities, such as Singapore and Hong Kong. Some Tokyo residents are going to other parts of Japan, particularly Osaka in the west, which has not been affected.
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