STRATEGIC MARKET MANAGEMENT

Strategic Market Management: Exploring Strategies for Exporting Indian Manufactured Dolomite Refractory for Steel Mills in Malaysia

Acknowledgement

Abstract

This exploratory research identifed the critical factors for the successful marketing entry of the Indian dolomite refractories manufacturers into the Malaysian steel industry. Four research propositions, based on the identified research gaps, were tested by this research study. The findings yielded new and useful insights on the research problem and the formulation of four salient recommendations for consideration by the Indian dolomite refractories manufactures.

First, for the Malaysian Government and the Malaysian Federation of Steel Producers need to understand that economics reigns supreme to politics. Whatever may be their aversion towards India, there is much to be gained from the import of dolomite refracatories produced by the Indian manufacturers. Today's business world is about symbiotic relationship and not emotions. There is much to be gained from the Indian manufacturers rather than incurring too much in importing expensive products from their traditional exporters.

Secondly, this study also highlights the “I don't care” attitude of the Indian dolomite refractories manufactures towards the Malaysia markets. They would rather give more importance to other nations in South East Asia rather than to Malaysia. In addition to this we also see that the Indians do have a reactive strategy rather than having a proactive strategy. The Indian firms are quite advanced in the production of steel and refractories. Had they exploited this advantage, they could have “locked-in” the Malaysian steel industry, which they failed to do. Therefore this study will provide the necessary feedback as to why the Indians need to give more importance to the Malaysian steel industry.

Thirdly, the different hybrid market entry strategies have been introduced here based on the various market entry modes discussed. As the situation in Malaysia is different, so are the market and marketing environment. Thus a modified mode of market entry has been recommended.

Finally, there has been an examination of the various marketing strategies that can be used by the Indian dolomite refractories manufacturers. With a beginning of the strategies from the '70s to this millennium, different marketing strategies were discussed and based on the existing scenario, a set of strategies were recommended for the Indian exporters that the researcher is confident will succeed in the Malaysian market, based on the environmental issues and the SWOT analysis of the exporters.

A very important outcome of this research study was its contribution to theory development based on a number of management and marketing views. The research findings led to the construct of a modified international market entry model that could be appropriate for the Indian manufacturers wanting to enter the Malaysian market.

Table of Contents

STRATEGIC MARKET MANAGEMENT1

Abstract3

Table of Contents5

1Chapter 1: Introduction13

1.1Iron and Steel Industry14

1.1.1The Iron and Steel Industry in Context14

1.1.2Iron and Steel Process17

1.1.3Ore Concentration and Coke Production17

1.1.4Ore Reduction17

1.1.5Iron Making18

1.1.6Primary Steel Production19

1.1.7Secondary Steel20

1.1.8Casting20

1.1.9Rolling and Finishing21

1.2Iron and Steel Production in India21

1.4The Research Problem34

1.5The Research Questions34

1.6The Research Objectives35

1.7Commodity Review37

1.7.1Metals37

1.7.2Iron and Steel38

1.7.3Indian Iron Industry42

1.7.3.1Consumption43

1.7.3.2Industry Structure43

1.7.3.3Production of Direct Reduced Iron (DRI)43

1.7.4The Growth in the ...