Marketing plan for OSIM in Japan-Free-Samples-Myassignmenthelp

Question: Develop a Marketing Plan for a locally based product (OSIM), detailing how it is to be Marketed in an overseas Country. Answer: Introduction: Japan in one of the fastest growing economies in Asia and people of this country are highly health conscious (Czarniecka?Skubina Nowak, 2014). The chosen industry for this assignment is OSIM, which is one of the leading health and lifestyle brand in Asia. This report will use PESTL and SWOT analysis to perform the market analysis of OSIM and it will try to find out the scope of expanding the business of the brand in Japanese market. Analysis: PESTL analysis: Figure 1: PESTL analysis Source: (Created by Author) Political factor Japan has constitutional monarchy and it presently it has a strong political balance throughout its various provinces (Katz, 2015). Japan being a signatory of ASEAN and G8 group, it always provide equal platform to every organization to grow. Thus, entering into the Japanese market will not be hard for OSIM. Economic Japan is the fifth largest economy of the world, and it has only 5% of unemployment rate (Tachibanaki, 2016). Tertiary and secondary sector of Japan produce most of the job that helps to maintain stable financial condition of the citizens. Thus, if OSIM enters the Japanese market it can have better profit. Social According to the World Bank Data, population of Japan is almost 126+ millions and the population of this country is open to incorporate anything new ( Lutz, Butz Samir, 2017). Thus, in this case Japan is a good option for OSIM to expand. Technological Japan is the technological hub of Asia and it has advanced telecommunication. The Japanese population always favors hi-Tech gadgets and products, which is expected to offer advantage to OSIM. Legal Japan has well established Corporate and Labor laws, which are quiet similar with the law system of Singapore (Ahmadjian, 2014). OSIM being a company from Singapore will always adapt with the Japanese economy easily. SWOT analysis: Strength Weakness Opportunity Threat -- Strong brand image -- Large market share -- Strong brand portfolio -- Good customer loyalty -- Partially expensive products -- Small number of buyers -- Expanding more -- Product diversification -- Enhancing supply chain -- Competition with regional brands -- Rise in labor cost --Shift in demand Figure 2: SWOT analysis Source: (Created by Author) SWOT analysis of OSIM shows that, the brand has great scope to expand its business in Japan because it has strong brand image as well as large market share in the domestic economy. Though there are few local brands like Inada and Osaki, who produce substitute products, but it will certainly give rise to the technology upfront of the OSIM (Ueda, Takenaka, Nishino, 2017). Moreover, it is important for OSIM to expand its business in the foreign market too, if it wants to survive. Market analysis: Target audience Cost of products from OSIM is bit higher thus it would be ideal for the brand to select the Japanese of upper middle class for better sells figures. Competitors Local massage chair producers like, Osaki and Inada are present the Japanese market. However, looking into the features and technological upfront of the OSIM it is easy to say that the brand can create their own market in Japan. Entry Barriers Japan being a signatory nation of ASEAN and G8 group gives free entry opportunity to every company; however, communication may arise as a big issue. Most of the people in Japan prefer to talk in their native language and only 5% people can speak English (Smith, 2015). Conclusion: Owing to the trustworthy service and plenty of experience, OSIM is acknowledged as the best producer of lifestyle products in Singapore. The above analysis found that expansion is the key to the growth of OSIM and Japanese market is potent enough to absorb the products from the brand. Though the products from the brand is on higher side but the ever growing Japanese market will always give a scope to the OSIM to grow and enlarge their profit References: Ahmadjian, C. L. (2014). Corporate Governance and Business systems in Asia.The Oxford Handbook of Asian Business Systems, 332. Czarniecka?Skubina, E., Nowak, D. (2014). Japanese cuisine in Poland: attitudes and behaviour among Polish consumers.International Journal of Consumer Studies,38(1), 62-68. Katz, R. (2015).Japan, the system that soured. Routledge. Lutz, W., Butz, W. P., Samir, K. E. (Eds.). (2017).World Population Human Capital in the Twenty-First Century: An Overview. Oxford University Press. Smith, L. E. (2015). English as an international language: No room for linguistic chauvinism.Journal of English as a Lingua Franca,4(1), 165. Tachibanaki, T. (2016).Public Policies and the Japanese Economy: Savings, Investments, Unemployment, Inequality. Springer. Ueda, K., Takenaka, T., Nishino, N. (2017). Service as Artifact: Reconsideration of Value Cocreation. InServiceology for Smart Service System(pp. 307-316). Springer Japan.