The paper “ STX Pan Ocean Marketing Plan - Challenges and Strategies of the Shipping Industry, Advertisement, and Promotions“ is an actual variant of a business plan on marketing. Globalization has brought many opportunities for companies and individuals all over the world. The shipping industry is increasingly contributing to the economic growths of South Korea, China, and Japan. In particular, the shipping industry in South Korea has seen enormous expansion and growth in recent years. Pan Ocean is one of the leading shipping countries in South Korea that have grown since its inception to become one of the leaders in the dry bulk market.
The company also provides containers, tankers, and LNG carrier services. Its growth has been achieved through strategic measures and objectives of developing a global market network that links Europe, South Korea, and China. Pan Ocean has a diverse workforce which has helped in undertaking implementation of strategic and marketing plans. The marketing plan of Pan Ocean discussed here is important in helping the company to achieve its mission and vision of being a global leader in the shipping industry. STX Pan Ocean is a South Korean global shipping company providing worldwide marine transportation and a host of other related services.
Its headquarters is located in Seoul, South Korea having been founded in 1966. The company mainly undertakes dry cargo service. It also provides ship services like container service, LNG carrier service, and tanker services. In particular, STX Pan Ocean Company undertakes stable and differentiated transportation of bulk cargos which include coal, iron ore, fertilizers, grain, and lumber. It ships cargo of more than 120 million tons in a year.
It has been listed both on the Korean Exchange (KRX) (2007) and Singapore Stock Market in 2005. The company’ s major operation routes are South East Asia, Middle East, Far East Asia, South America, and North America. In January 2014, STX Pan Ocean was re-launched and changed its name to Pan Ocean (Pan Ocean 2014). This essay outlines the marketing plan of Pan Ocean Company limited for the years 2015 and 2016 and this objective will be attained by discussing strategies for the achievement of the company’ s objectives and targets. Company OverviewSTX Pan Ocean is the largest shipping company in South Korea hence it is charged with the duty of fully representing the country in shipping service provision.
It has gained a high reputation and trust worldwide as a dry bulk shipping company having captured many markets for a long time. It registered a sales volume of US$ 2,456.6 million in 2013. The dry bulk sector contributed 73% of the total sales, while 14% of the total sales were contributed by container services (Pan Ocean 2014). 11% of total sales were contributed by tanker/LNG services and 2% of total sales by others (Pan Ocean 2014).
It had a total of 2,310 employees in 2013; 388 on-land and 1,922 operating in maritime (Pan Ocean 2014). Pan Ocean Company Limited is focused on establishing strategic relations with other major shippers in the world in securing stable business opportunities. The experience and expertise of the company that has spanned nearly five decades have enabled the company to realize that quality services are the key driver in maintaining business operations for a long period of time.
Pan Ocean has gained trust from many owing to its firm establishment of transparent and ethical management. In addition, it is also involved in systematic environmental management (Pan Ocean 2014). Appendix (1) shows a SWOT analysis of Pan Ocean Company prepared for purposes of guiding the preparation of the marketing plan.
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