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Steel Shipping Containers for Housing

Table of Contents

Introduction
Market Features
Competitive Analysis
Target Market Segmentation
Decision-Making Process
Conclusion
Reference List

Introduction

The use of steel shipping containers in the manufacture of housing is becoming increasingly widespread due to the functionality of such buildings and their valuable technical characteristics. In the example of the Australian market, the positioning of this product will be considered due to the appropriate analysis of the consumer profile and the features of the implementation process. The principles of promoting steel shipping containers as housing objects require assessing relevant incentives.

Market Features

The popularization of containers in question is due to a range of advantages of these structures over other types of buildings. In particular, as Tanyer, Tavukcuoglu, and Bekboliev (2018) note, steel shipping containers are widely used in Europe and Australia, and as an example, the authors cite the Amsterdam market where, in 2006, the number of such architectural objects amounted to 1,034. Since then, the total share of these buildings has grown substantially, and, according to the current data, the structural steel market was valued at $285 billion in 2019 and is projected to surpass $500 billion by 2026 (Structural steel market, 2020, para. 1). One of the trends in the construction of buildings of various shapes and purposes with a distinctive design and functionality. According to Islam et al. (2016), the life cycle of these containers may reach 100 years, which is a valuable feature in regions with unstable climatic conditions. These factors are the reasons to promote such products in large volumes.

Competitive Analysis

Due to the trend in residential buildings under consideration, a large number of both Western and Eastern manufacturers are involved in the production of new and processing old shipping containers. As an example of direct competitors, such companies may be noted as ArcelorMittal S.A., Nippon Steel & Sumitomo Metal Corporation, POSCO, VISA Steel, and some other manufacturers (Structural steel market, 2020, para. 5). The size of many companies is impressive, which their activity proves. For instance, as an optimization initiative, in 2018, British Steel invested ¬50 million to expand supplies to Europe and Asia (Structural steel market, 2020, para. 6). Various advertising campaigns and demonstrations are the most effective ways of positioning such products globally.

Target Market Segmentation

To promote steel shipping containers as the basis for housing, the target market can be segmented in accordance with specific factors. In particular, due to the functional and technical characteristics of the products in question, one can distinguish among geographical, demographic, and behavioral segments. When taking into account the purpose of buildings made of steel shipping containers, they are of particular benefit as sustainable structures that can withstand numerous natural disasters. Therefore, the Australian market is a potentially profitable segment for the promotion of this product due to periodic disasters in this region, and the geographical factor is fundamental. According to Islam et al. (2016, p. 678), since container housing can be built by using about 75% of recycled materials, the Australian market is a favorable region for implementation. Residents of the country in which the predominant number of cities are located along the coastline need to be sure of the reliability of their housing. Therefore, the consumer profile of the target audience involves people of all ages who are ready to use environmentally-friendly buildings with non-standard design solutions.

The nature and geographical features of Australia are the key factors determining the value of a given region in the context of promoting the product in question. The consumer profile is based on the need for protection and minimizing the cost of maintaining the functionality of buildings made of shipping containers. As a result, the Australian market is a potentially profitable segment for manufacturers and innovative for consumers.

Decision-Making Process

The implementation of steel building containers in the Australian market is driven by the current needs. According to Anwar, Rasul, and Khan (2020, p. 50), today, Australia is one of the largest polluters on a per capita basis. Since container buildings are environmentally friendly, these products are useful for residents. This housing can help improve the environment and provide people with protection from natural disasters, such as earthquakes and tsunamis. To avoid risks and attract as many consumers as possible, all available product information should be freely available to provide potential buyers with the possibility of a prepurchase search. Specifications of this housing are to be presented in comparison with traditional buildings to influence the buyers decision-making process. Internal and external searches, in turn, can help determine the role of competitors and assess potential threats and growth opportunities.

As the criterion for the evaluation of alternatives, individual factors need to be considered. As Wong, Tan, and Ling (2018) state, many modern steel containers are corrosion resistant. This means that the technical value can be one of the keys, along with such evaluation factors as durability and ease of use. These buildings can be categorized according to their size, quality of steel, and other production features, and consumers will be able to choose the best samples to suit individual needs. Outlets should be located in busy areas, particularly in coastal areas due to the characteristics of the Australian population density. According to the consumer-based theory, buyers decision-making process may depend on the feedback of those who have already purchased a specific product. Therefore, initially, discount programs and bonus offers should be provided to ensure stable demand and overcome the competitive barrier.

Conclusion

Relevant incentives to promote steel shipping containers as housing are considered, and the consumer-based approach is applied to evaluate the principle of product implementation into the Australian market. Overcoming the competitive barrier, satisfying customer needs, and real bonus offers are objective criteria for successful marketing. The geographical factor is one of the most important when planning the promotion program and analyzing potential risks and opportunities.

Reference List

Anwar, M., Rasul, M. G. and Khan, M. M. K. (2020) Performance analysis of rooftop greenery systems in Australian subtropical climate, Energy Reports, 6, pp. 50-56.

Islam, H. et al. (2016) Life cycle assessment of shipping container home: a sustainable construction, Energy and Buildings, 128, pp. 673-685.

Structural steel market is likely to reach $500 billion by 2026, says Global Market Insights Inc. (2020)

Tanyer, A. M., Tavukcuoglu, A. and Bekboliev, M. (2018) Assessing the airtightness performance of container houses in relation to its effect on energy efficiency, Building and Environment, 134, pp. 59-73.

Wong, E. K. H., Tan, C. S. and Ling, P. C. H. (2018) Feasibility of using ISO shipping container to build low cost house in Malaysia, International Journal of Engineering & Technology, 7(2.29), pp. 933-939.

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