...Question 1 What is the meaning of the brand identity of OSIM? Brand identity emanates from the organisation, and is how it wants its products to be viewed by its stakeholders. ‘Brand identity’ is not defined in Marketing in Asia, but Aaker defines it as “what the organisation wants the brand to stand for in the customer’s mind” or “how strategists want the brand to be perceived”. In more recent literature, Kotler and Keller define it as “the way a company aims to identify or position… its product”. Applied here, the question is therefore how OSIM aspires for their brand to be perceived by both their internal and external customers. Here, OSIM wishes for their brand to be “synonymous with healthy lifestyle”, “[i]nspiring [w]ell-[b]eing” through having a positive mindset and healthy living. What are the different aspects of this identity? For ease of reference, for this part, I have decided to adopt Aaker’s Brand Identity Planning Model (see Figure 1 below): Figure 1: Brand Identity Planning Model Brand as a Product OSIM’s brand promises “product innovation, design and quality, performance, and safety standards”. Further, OSIM intends for its products to be perceived as something which is value-for-money. Here, the focus is more on the intangible benefits, in particular the impact of having a healthier lifestyle. According to Aaker, under this category, it is important for customers to recall a brand when they have a need in that particular product class. Having been...
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...Contents Page 1) Lit 1 2) Analysis Of 6 3) Analysis Of 7 3.1. P 7 3.2 Analysis 8 4) S 9 5) Conclusion 10 6) References 12 Introduction OSIM international limited is the global leader in branded healthy lifestyle product with 1,100 outlets across 360 cities. Listed in the Singapore stock exchange and originally founded by Ron Sim in 1980 in Singapore, it has over 30 years of experience and uncompromising dedication in developing innovative and reliable healthy lifestyle products (OSIM Ltd., 2010). The motto of OSIM which proudly rules the company has been “Inspiring Life”. For report purposes, OSIM’s will be researched and evaluated upon below. Persuasion In definition, persuasion from an organization is a conscious effort to influence by appealing to a consumers’ reason. At the base of marketing communications, persuasion serves to advise consumers on the benefits of a product and ultimately lead to acceptance of an attitude, belief or behaviour. A suitable approach in persuasion may be to adopt the consumer processing model (CPM) for appealing to intellectual consumers or the hedonic, experiential model (HEM) for those in pursuit of sensory stimulation or fantasies. Elaborating on the persuasion process, it comprises of four fundamental factors. Aspects of persuasion that are controlled by the marketer consist of peripheral cues and message arguments while characteristics of the person being persuaded are the receiver’s involvement and initial position...
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...OSIM Student Instructor Course OSIM Introduction OSIM International is known as Asia’s number one brand in the provision of well-being and healthy products of a lifestyle. The company operates a wide variety of sales network with about 856 outlets in one hundred and eleven cities across thirty States in the Middle East, North America, Asia, the Middle East, Africa and Oceanic. The Company has undertaken an inventive approach towards branding, product development, and management (OSIM INTERNATIONAL LTD, 2010). OSIM will claim to continue creating higher consumer demand in the future with the launch of major products quarterly. The Company’s products include foot massagers, head massagers, massage chairs, fitness equipment, neck and shoulder massagers, vitamin and supplements, and diagnostic equipment. Supplier Selection and Evaluation Strategy OSIM choose its suppliers depending on a broad range of factors such as quality, value for money, reliability, and service, and does not consider the factor of price lists only. In supplier selection, Osim weighed up the importance of all these different factors based on their business priorities and strategies. A proper strategic approach to choosing suppliers will help to understand how your potential customers weigh up their purchasing decisions. The following guide illustrates a step by step approach that Osim uses...
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...Analysis Page 5-6 4. Issue Analysis Page 7 5. Recommendations Page 7 6. Conclusions Page 7 7. Referencing Page 8 Introduction OSIM the well establish Asia healthy life style brand, originated from Singapore. OSIM was founded by Dr Ron Sim Chye Hock in November 1980. Initially derive from R Sim Trading which deal mainly with household appliance. Dr Ron Sim Chye Hock later founded OSIM and eventually changes his focus to creating healthy life style products since he felt a great market potential in home care products in Asia. Dr Ron Sim Chye Hock brought together different equipment manufacturers and introduces OSIM which then receives significant growth to the extent of establishing multiple outlets Asia (straitstime). Having the motto “Inspiring Life” OSIM company has a significant numbers of outlets all over the world (osim) Situational Analysis on Micro and Macro Factors In the IT and Health conscious era, companies are trying to find opportunities to stay ahead of other rival companies. Companies have to examine and evaluate their environmental forces and take necessary approaches in order to stay competitive. Micro Factors Microenvironments are factors closely related to company operations and directly impact the customer experience. OSIM has several factors that affect her greatly. A way to show case these factors are by Michael Porter Five Force Model which is: Competitor, Threat of New Entry, Supplier Power, Threat...
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...DISCLAIMER The information contained in this report is given in good faith and was derived from sources believed to be reliable and accurate. The report was prepared by students as a required component of their academic assessment. The reader should not act on the basis of any information or recommendations contained in the report without seeking specific advice from the firm's professional advisers. While due care has been taken in the preparation of this document, Murdoch University together with its academic supervisors and students accepts no responsibility for errors or omissions, nor do they guarantee its accuracy. OFFICE USE ONLY Submission date OFFICE USE ONLY Submission date ASSIGNMENT COVER SHEET (INDIVIDUAL OR GROUP) Please complete and attach this form to your assignment. All assignments must be submitted to lecturer on the stipulated submission date. Name | LIANG TIANSHU JOEL, GOH WEI SIONG, LEE WEI TECK BRANDON, CHENSON ANG, LIM MING YAO | | Unit Code | BUS323 | Unit Name | INTERNATIONAL MANAGEMENT | Class Code | PT-BUS323D | Local Lecturer’s name | DR. JUERGEN RUDOLPH | Assignment No. (i.e. 1,2,3) or ‘short answer’ | MAJOR PROJECT | Your assignment should meet the following requirements. Please confirm this by ticking the boxes before submitting your assignment √ My assignment is double-spaced and clearly legible √ My assignment is written on one side of page only √ I have provided a wide margin...
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...Introduction With more than 800 outlets across 100 countries, OSIM International Limited is one of the Asia’s branded healthy lifestyle products companies founded by Dr Ron Sim. Originated from Singapore, Dr Sim identified the huge potential in Asia’s homecare products market and he successfully transform a local household appliances trading business known as R Sim Trading to a listed company with a revenue of $600 million today (OSIM Ltd, 2015). Brand OSIM is about living an inspiring life and experience the overall well-being to match with their slogan ‘Inspiring well-being’. With more than 30 years of experience pioneering in healthy lifestyle products, they aim to provide in-depth knowledge of holistic health through their products. The major competitors are OTO and Ogawa as they provide comparable products and serve the same group of consumers while at the same time, they market their products at a lower price. Competitors also introduce different products to attract broader group of consumers. For instance, OTO diversified their products by offering fitness purpose machine such as OTO Track Blazer, a home use treadmill to access new group of consumers (OTO wellness Pte Ltd, 2015). SWOT Analysis By applying SWOT analysis model, we can study OSIM external issues such as potential opportunities and threats and analyse internal issues by identifying its strengths and weaknesses. Besides, it assists firm to achieve its desired results. (Feist, Heely, Lu, & Nersesian...
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...Brand erosion The OSIM brand is the success and key value driver in its business. OSIM will have to strengthen its branding to prevent any dilution and focus on strategic positioning of its core products. Management’s efforts to raise the OSIM brand profile, for instance, via sponsorship of high-profile corporate events and celebrity endorsements to raise awareness and brand presence have been successfully so far. The OSIM brand remains the key value driver of its business, and OSIM will have to carefully manage this to prevent any dilution. For now, OSIM has continued to focus on positioning its core products at the “luxury” end of its market segment, where the entry barriers are more stringent. Management has also continued to seek new channels to raise the OSIM brand profile, for instance, via sponsorship of high-profile corporate events, such as the OSIM International Triathlon since 2001, the OSIM Singapore Golf Masters (from 2005-08), and the BMF World Superseries (2011-13), which should help boost the brand’s presence globally. OSIM’s strategy is to participate in or sponsor high-profile corporate events such as triathlons, a multi-disciplinary sport that encourages stamina, endurance and strength, and promotes a healthy lifestyle, qualities that are strongly aligned with OSIM’s own corporate culture. A dedicated marketing budget (at about 6-7% of sales), coupled with celebrity endorsements and tie-ups for key product launches (e.g. Andy Lau, the Hong Kong...
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...Task 1 Question 1.1 Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. (Marketing Management, P38) The goal of marketing is to capture value from customers to create profits and customer quality. Marketing process includes: 1. Understand the marketplace and customer needs and wants. 2. Design a customer-driven marketing strategy. 3. Construct an integrated marketing program that delivers superior value. 4. Build profitable relationships and create customer delight. 5. Capture value from customers to create profits and customer quality. (Marketing Management, P38-39) The elements of marketing process include situation analysis, marketing strategy, marketing mix decisions and implementation and control. In OSIM’s case, it understands people have great needs for health, hygiene, fitness and nutrition products. The targeted market is the whole population. Then, OSIM aims to develop innovative healthy lifestyle products for these needs and wants, and develop a strong and trusted brand in these areas. In building relationships with customers and providing them healthy lifestyle products, OSIM is also building a large network of outlets, advertising through newspapers, magazines, etc, as well as franchising to foreign countries. Finally, through the whole marketing process, OSIM has captured value from customers and created profits for themselves...
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...2.2 Osim Market Segmentation Market segmentation is the process of dividing a broad target market into subsets of consumers who have common needs so as to design and implement strategies to target their needs. The general target group for Osim is mid to high-end customers. This is so as they are less vulnerable to recessions and demands will become more resilient to cyclic demand patterns exhibited in typical consumer companies. This also allows them to actually charge a premium to consumers over their competitors’ products. However each of Osim products is actually created for a specific target market group in mind as they try and gradually increase their market share. These target markets are mainly sorted out through the use of age group, gender and income levels. Below shows an example of a product’s target market. Osim uPaPa Hug Age Group 25-35 & 50 years old onwards It focuses on providing a relaxing experience as well as a stress remover which young working adults are facing in the fast paced lifestyle. As the society advances, young adults are often suffering from muscle discomfort due to their work nature. In addition, OSIM UPAPA Hug was also advertised as a perfect present for the elders. Gender Male and Female As seen on their advertisements, a young lady with toned figure was portrayed. It displayed the ‘gentle’ side of the product, symbolising that it is suitable even for female usage. The male models playing the drums symbolised that the product has...
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...Many major brand marketers often spend huge amounts in the beginning on advertising to create brand awareness and to build preference and loyalty. A product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges. You just bought a hickory rocking chair, handmade by a Shanghainese craftsman in China, from locally grown wood. This is an example of a(n) specialty product Some companies license names or symbols previously created by other manufacturers, names of well-known celebrities, and/or characters from popular movies and books. These can provide an instant and proven brand name. Retailers have become concerned that there are already too many brands and are pursuing megabrand strategies to weed out weaker brands and focus on brands that can achieve the number-one or number-two market share positions in their categories. Krispy Kreme, by delivering hot and fresh donuts to their customers, provides experiences Because a barber cannot inventory haircuts, which one of the following applies? service perishability Outback Steakhouse provides gourmet menu options to its customers, as well as impeccable service. They even allow the customer to hand-select his or her own cut of meat. Here only a core benefit is/are evident. The company periodically surveys buyers who have used a product and asks questions such as, “Which...
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...1st objective : Customer Retention - It is important for firms in these markets to retain existing customers rather than to try to attract new ones as it is less complex and also; the cost of attracting a new customer is five times more than keeping an existing one. Customer retention can be achieved through: Customer loyalty program such as discounts on the products for the cardholders, points from purchasing with Pokka can convert to premiums, and the discount coupon for new product that attached with the popular items. OR Relationship marketing. It is to retain profitable customers and holding their loyalty by completely satisfying them. Relationships between consumers and Pokka Lemon Tea can occur via several methods, such as face-to-face contact, telephone, email and even video-conferencing. 2nd objective: Customer Satisfaction - Delivering customer satisfaction is the most important part of every business as it can affect the overall sales revenue and profit. Satisfaction ranges from product quality, timeliness and service. What can be done to get feedback and improve ? Customer Survey (Find out the activities can lead the company to get the customers positive view towards them) Pokka has to adapt itself to match with the changing needs of customers at all time; for e.g. people are now more health conscious. Pokka should try to keep up more with healthy choice for customer such as the carrot juice. For the past performance, the company can review what, where,...
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...and Value through Marketing UNIQLO: UNIQUe cLOtheS, UNIQUe ShOppING eXperIeNce A hugge Japanese adult consumer preferred luxury brands, whereas the teenage crowd tended to frequent niche fashion shops to stay current with the latest trends. At the time, casual clothing in Japan was thought of as being either affordable but poorly made or of high quality but expensive. The market for casual clothing was also fairly limited, with people in general perceiving such informal wear to be trendy and impractical, and to cater mostly to younger people. Tadashi Yanai, the founder and chairman of Fast Retailing—the parent company of UNIQLO— set out to change all that, aiming to provide consumers with casual clothes that were affordable and yet of good quality, and to expand the market for casual clothes to the entire population. In 1998, UNIQLO began a revolution in the Japanese fashion industry with a now-legendary line of fleece garments that came in a gradient of colors and were sold at an affordable price of ¥1,900 each. It proved to be UNIQLO’s best selling item and is still one of its most popular products today. Suddenly, fleece garments—and UNIQLO— were “cool” and hip, and the demand for UNIQLO’s affordable, casual wear exploded. LearNING OBJectIVeS After reading this chapter you should be able to: Define marketing and identify the requirements for marketing to occur. Explain how marketing discovers and satisfies consumer needs. Distinguish between marketing mix elements and...
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...I UVOD Pojam akcije (share, stock) poznat je jos od XVI veka. Smatra se daje prvo korišćen u Engleskoj, i to da bi označio udeo u finansiranju dugih plovidbi trgovačkog karaktera (Indija, Kina itd. ). Po povratku sa takvih puteva profit koji bi se ostvario prodajom donesene robe djelio se prema udelu, nešto kasnije akcija dobija drugo značenje. Sa razvitkom proizvodnje od zanatske preko manufakturne pa sve do industrijske razvijala se i dobijala na značaju i akcija. Potreba za širenjem posla i uvođenjem novih mašina zahtevala je velika finansijska sredstva. Ta finansijska sredstva mogla su biti pronađena jedino u vidu kredita, ali uslovi kreditiranja nisu uvek tako povoljni, pa se morao pronaći drugi izvor dugoročnog finansiranja. Zato su se odlučivali na varijantu zajedničkog ulaganja i stvaranja akcionarskih društava. Tako organizovane kompanije imaju svoje prednosti, jer su u stanju da mobilišu veći kapital, ali i rizik pojedinca je manji jer za poslovanje odgovara visinom svoga uloga, ali ne i svojom ličnom imovinom. Kako kod partnera kao po pravilu brzo dode do konflikta, tako su se pojedini akcionari odlučivali da prodaju svoje udele. To bi mogao biti jedan od scenarija začetka sekundarnog tržišta akcijama. Pisati o akcijama, a ne spomenuti berze bilo bi nemoguće. Berze su mesta na kojima se pored ostalog trguje i akcijama, međutim one su nastale mnogo pre akcija. I-1. POJAM I KARAKTERISTIKE AKCIJA Postoje brojne vrste hartija od vrednosti medutim...
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...www.ccsenet.org/ijms International Journal of Marketing Studies Vol. 3, No. 2; May 2011 The Influence of Brand Loyalty on Cosmetics Buying Behavior of UAE Female Consumers Dr. Hamza Salim Khraim Marketing Department, Faculty of Business Middle East University, Amman, Jordan E-mail: hkhraim@meu.edu.jo Received: January 24, 2011 Abstract The worldwide annual expenditures for cosmetics is estimated at U.S. $18 billion, and many players in the field are competing aggressively to capture more and more markets. The purpose of this article is to investigate the influence of brand loyalty on cosmetics buying behavior of female consumers in the Emirate of Abu Dhabi in the UAE. The seven factors of brand loyalty are brand name, product quality, price, design, promotion, service quality and store environment. Questionnaires were distributed and self-administered to 382 respondents. Descriptive analysis, one-way ANOVA and Pearson Correlation were used in this study. The findings of this study indicated that brand name has shown strong correlation with brand loyalty. The research results showed that there is positive and significant relationship between factors of brand loyalty (brand name, product quality, price, design, promotion, service quality and store environment) with cosmetics brand loyalty. Keywords: Female buying behavior, Brand loyalty, Cosmetics, UAE 1. Introduction The history of cosmetics spans at least 6,000 years of human history, and almost every society on earth...
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...Ta’Kita Boykin REI Marketing Environment Worksheet List the current characteristics of each environmental factor as they relate to REI. U.S. Economy How does the current U.S. economy affect REI retail operations? 1. If the economy was in a depression, people would begin saving money and limiting their spending habits, which in turns results in a decrease in online/in-store purchases for REI because the value of their goods/products would have to increase. There will less buying for some goods and supplies which decrease the company’s sales and revenue. 2. Employees within the companies would lose jobs (turnovers) or employees making less money. Global Economy How does the current global economy affect REI retail operations? 1. If some products or goods were bought or traded from another country and the currency values were increase, REI would have to purchase these items at a higher price also and the scope of REI’s prices would decrease because customers would realize that the prices for what they want are too expensive and not want to buy them. 2. Fair Labor. REI has joined with other associations such as Outdoor Industry Association (OIA) and Fair Factories Clearinghouse (FFC) to crack down and ban fair labor violations. Legal and Regulatory Environment What types of legal and regulatory forces affect REI in the U.S.? 1. Consumer privacy. By REI customer’s using their social security numbers, credit cards, checks, and debit cards to make purchases...
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