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Shyu Fuu Industries Co., Ltd.
Michael Hicks
School of Aviation, Liberty University
BUSI 330: Principles of Marketing
Professor AnnMarie Hohman
October 13, 2023
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Shyu Fuu Industries Co., Ltd.
Executive Summary
There are many different reasons why sunshades are a valuable addition to a vehicle.
They can protect the interior of a vehicle from sun damage like fading colors or cracking
upholstery. Sunshades are also used to reduce the buildup of heat in a vehicle while it is not in
use, or it can be a way to escape from the heat of the day while the vehicle is running but not
moving. However, many times people forget they have a sunshade in the vehicle, or it got thrown
too far back to reach. When the sunshade is not put in place, it cannot provide the benefits it is
designed to provide. The Auto-Shade eliminates these issues because it is mounted on the side(s)
of the front windshield, so it is never out of reach. Since the Auto-Shade is electronically
powered by the vehicle, the shade will deploy at the press of a button while the vehicle is in park
and running, or it will automatically deploy when the vehicle is turned off. Reaching for the
Auto-Shade will be a thing of the past. For any driver that wants the benefits a sunshade can
provide without the hassle of fighting with it will want the Auto-Shade and its automatic
deployment technology. Shyu Fuu Industries has specialized in the research, development, and
production of vehicle sunshades, using high quality materials and production methods. Since the
company is already well versed in the needs of drivers what use sunshades, the addition of the
Auto-Shade will be a valuable addition to their product line.
Product Strategy
A differentiation strategy would be an ideal approach for this product. Since the market is
already saturated with sunshades from many different companies, it would be beneficial to
highlight the additional features of the Auto-Shade to make the product stand out from the others
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in the market. With every sunshade available adhering to folding or roller style shades which
require manual operation, we can highlight the technological advancements pioneered in this
product; automatic deployment and retraction on vehicle shut-off or button activation. While all
sunshades provide the same benefit, the Auto-Shade will stand out due to its automation and ease
of use. Since Shyu Fuu is already partnered with many different auto manufacturers we could
leverage our position as a provider and suggest this product to the more innovative companies
like Tesla Motors to offer it as an option or as a product their customers could buy on their own.
Given the advanced technological position that Tesla holds, it is likely that their customers will
be more receptive to additional advanced vehicle accessories. Aside from reaching out to current
partners, the product could also be carried in auto-parts stores. Shyu Fuu used to distribute their
product to stores like these prior to their venture into highly customized work. Using this avenue
would expose the product to other vehicle owners who appreciate technology, but do not have
the desire for a fully electric vehicle. Releasing the product in a small market to start with would
allow the company to get important feedback from the consumer and allow the ability to make
modifications to the product without large losses due to production volume.
Pricing Strategy
The initial pricing strategy that is proposed to be used is skimming pricing. We would set
the price of the product at the highest price consumers that want the product are willing to pay.
As the initial demand is met, the price of the product will be incrementally adjusted to find the
best balance between sales and profit. Currently, competitors use both penetrating and prestige
pricing. For example, two identical sunshades are available on Amazon, one is priced at $109
under a brand name, and the other is priced at $29 with an unknown company name. There are
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also other shades that are priced above $200. All of these shades on offer are manual operation,
and no automatic option exists. Given the automation and research that the product will require, I
believe a skimming price point should be set initially at $135.99. Once the initial demand has
passed, prices will be lowered, and a price point will eventually be reached that will still provide
for adequate units sold and profit received.
Promotional Strategy
Advertising will be imperative for the needed exposure and promotion of the product.
This could be achieved through individual TV ads, Auto-parts store ads, sales promotions
available at dealers like Tesla, and creating a social media presence for this product. While
anyone can purchase this product, it will be more likely to be well received with younger
generations who have been exposed to technology from an early age. In the message, it needs to
be communicated that the shade functions automatically and does not need to be removed each
time. A simple slogan of “Forget the old shade”, or “We remember so you don’t have to”, with a
graphic of the shade installed and in mid-operation in a vehicle, with a person walking away in a
visible hurry would pique interest in the consumer about the product. Using both social and
traditional media, this gives the product the most exposure to the younger generations, which
will most likely be the pioneer purchasers of the product. Social media also allows us to closely
monitor feedback and questions about the product.
Distribution Strategy
The product and its components will be produced in Tiwan, at the production facilities
that Shyu Fuu uses and operates. Getting the product to the customer will involve standard
shipping methods to distributors like auto-parts stores and vehicle dealers, as well as providing
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individual orders from customers on the company website or social media page. Shipping to the
customer will be conducted through normal operations like USPS, FedEx, UPS, and DHL. This
provides the most reliable and expeditious method of delivery. Since the product itself will be
lightweight, the overall weight including shipping materials should not exceed 4 LBS, and will
ship in tubular packaging ranging in length, depending on which model of vehicle the product is
intended for. Larger windshields will require a larger product, and for commercial vehicles like
Semis and RVs, the weight might be more than 4 LBS. With the relatively low weight of the
product and materials, it can be reasonable to assume that shipping costs will be minimal.
Individual retail shipments might require a $5.99-7.99 shipping charge, where wholesale orders
will be charged differently.
Past Sales Revenues
As Shyu Fuu Industrial is a privately owned company, their financials and sales numbers
are not publicly available. However, “The global sun visor market is expected to grow at a
compound annual growth rate (CAGR) of 2.6% during the forecast period of 2024-2032” (EMR.
2023.).
Financial Projections
With the skimming price set at $135.99, selling 25-50,000 units would result in sales
totaling between $4-8 million in the first year. While this number can change depending on
consumer demands and feedback, I feel it is an attainable goal given the projected growth rate of
$1,396.61 million between 2023-2027 (Technavio. n.d.) and paired with the advanced
technology present in the product.
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References
About sky: Professional car sunshades manufacturer: Shyu Fuu Co., ltd.. Shyu Fuu Industrial
Co., Ltd. (n.d.). https://www.shyu-fuu.com.tw/aboutus.htm
Global Sun Visor Market Report and forecast 2024-2032. Sun Visor Market Size, Growth
Report, Share 2024-2032. (2023.). https://www.expertmarketresearch.com/reports/sun-
visor-market
Technavio, https://www. technavio. com/. (n.d.). Market research reports - industry analysis size
& trends - technavio. Automotive Window Power Sunshade Market Size, Share, Growth,
Trends, Industry Analysis Forecast 2027. https://www.technavio.com/report/automotive-
window-power-sunshade-market-industry-analysis
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