This study focused on the introduction and aspects of 3D printing in the United Kingdom. The marketing strategies that needed to be implemented in the field of 3D printing were analyzed, and in addition the study focused on the various macro environments affecting the 3D industry. Moreover, this research related the background of Makism 3D Corporation and the future of the 3D industry in the United Kingdom.
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The introduction of the 3D printing industry revamped the printing industry in the United Kingdom. The printing needs of government institutions, multinational corporations, institutions of higher learning, public and private companies and private citizens vary, and thus 3D printing presents a viable solution to all stakeholders as it is spectacular and pragmatic in the current scenario in the United Kingdom. Makism 3D Corporation is a company that deals with manufacturing 3D printers and it is located in Cambridge.
The company exhibited high levels of innovation and competence through the introduction of new technology in the printing field. Makism 3D Corporation manufactures various types of 3D printers which include the Wideboy 3D printer models; A4/150, A4/200, A4/250. All these printers vary in terms of the printing volume, extruders, resolution of the layer, the filament size and power supply requirements.
Makism 3D Corporation was incorporated in the year 2010 and the retirement planning group is its main shareholder. The company’s market capital price is about $64 million with the number of outstanding shares being about seventy million. The Wideboy family of printers constitutes the main products available at the company.
The company is currently operating in the United Kingdom, but there are plans to diversify their products and launch new investments in other European countries. The key stakeholders in the information technology industry have been enthusiastic about the 3D printing technology with Microsoft creating an app for 3D printing in the windows 8.1 version, while Hewlett Packard also expressed a lot of interest in implementing the technology. At the moment the Wideboy series of printers still provides the best printing solutions and the expansion of Makism 3D Corporation in the rest of Europe and the rest of the world will definitely be successful.
The sales volume of 3D printers in the United Kingdom was enormous and currently Makism’s 3D printers dominate the UK market and in the year 2012 the expenditure on 3D printing summed up to $288 million and a large portion of the market share was acquired by the company. In 2013 the expenditure on 3D printing increased by about 43 percent to $412 million. The sales forecasts ascertain that in future the expenditure on obtaining 3D printing devices will rise drastically.
Makism 3D Corporation is likely to enjoy a large portion of this market share since the UK market is eager to purchase the Wideboy series of printers which will be availed by the company. The target market in the United Kingdom is comprised of professional companies, higher learning institutions and the UK citizens, and the sales figures associated with 3D printers are high as the technology is applicable in a wide range of situations.
The profitability levels at Makism 3D Corporation have generally been high since large companies in the UK and internationally have implemented the 3D printing technology. For example, NASA implemented the printing technology in its rockets while institutions have also utilized the technology in a very massive way. The introduction of the technology in windows 8.1 also increased the use of the technology in universities and other public institutions. There is an extensive use of the technology in several sectors in the United Kingdom this is an assurance that the profit levels of the company will always be high.
The main objective of the company is to implement diversification of its 3D printers. Secondly, Makism 3D Corporation plans to launch investments in the rest of Europe and the world. The company aims to increase its capital market price share in the current accounting period. In addition, the company aims to implement a more interactive interface on their website by availing links to various documentations and reports. Makism 3D Corporation aims to boost the sales figures by implementing these changes on their website.
Analyzing the macro environmental factors in the UK, the government has not exhibited any intention of restricting the 3D printing industry considering the social aspect of the industry is of benefit to the UK citizens as it has provided a viable printing solution to the whole UK community. The 3D printing industry should adapt to the current trends in the market, customer tastes and preferences vary from time to time. Furthermore, Makism 3D Corporation should strive to embrace new technology at all times, this is due to the competitive nature of the information technology industry.
Makism 3D Corporation has to ascertain all the aspects of competition which include; consumer bargaining power, supplier bargaining power, threat posed by substitute products, threat of new entrants and the aspect of rivalry in the industry. The cultural and economic aspects concerning 3D printing industry in the UK are favorable hence the company will thrive. After five years there will be changes in technology and consumer tastes and preferences in the UK. It is imperative for Makism 3D Corporation to adapt to these changes.