Casio Business Report
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Table of ContentsExecutive Summary 11.0 Introduction 21.1 Objectives of the report 21.2 Present the context 21.3 Background………………………………………………………………………………………………….21.4 Swot analysis………………………………………………………………………………………………….21.5 Outcome 32.0 Method 32.1 Data collection methods 33.0 Findings 33.1 Key Competitor’s Marketing Mix………………………………………………………………..33.2 SWOT analysis for CIASO 43.3 MARKETING MIX for CIASO 5 3.4 SUMMARY OF INTERVIEW………………………………………………………………………….64.0 Discussion 64.1 Interpretation 64.2 Assessment 75.0 Conclusion and Recommendations 7Reference 9Appendixes 10Appendix A 10Executive SummarySome people were forced to wake up when they were dreaming because the noisy sound of their alarm. Now they can get rid of that feeling just by using the new product, Alarming. In order to satisfy the needs of consumers who work to a strict schedule, both primary and secondary resources were used including two interviews and a survey of ten potential consumers. Internet was used to search for secondary data. At last, two marketing mix and a SWOT analysis were created based on the results and marketing mix one was decided to commence. After a set of research, Alarming will definitely be the most popular alarm device in the future.
IntroductionObjectives of the reportThe purpose of this research is to introduce a new product named Alarming to consumers which will serve for the demand of alarm device in modern public. Furthermore, it was conducted to identify the main competitor for Alarming and the ideal market to sell the product.Present the contextAlarming is a new type of alarm that possesses a lot of new functions that can wake people in a comfortable way instead of using loud sound to wake them. This product will aim at the mass market to help consumers who work to a very strict time scale. The new function of gradually illuminating two LEDs on the alarm and sound effect will lead this product to success. The reason for choosing this product to sell is that it has advantages over its competitors and there is a demand of it.BackgroundThis report is based on SWOT analysis (Casio, 2012) so as to identify the strength, weakness, opportunities and threats of Alarming. Additionally, the 4Ps (Casio Computer, 2012) were applied to determine product, price, place and promotion of Alarming. 1.4 The SWOT analysisThe SWOT analysis is an effective way to analysis the environment of a business, which is a great help for planning and business plan. The SWOT stands for Strengthens, Weakness, Opportunities, Threats. The first two is about internal environment while the last two is about external environment. 1.5 OutcomeWith so many advantage that other products lack of, Alarming will definitely become the best selling alarm in the near future.MethodData collection methodsBoth primary and secondary research was conducted in order to obtain the result. First, with the purpose of acquiring some basic information about my target market, a survey was conducted in Tangshan of ten people, both males and females of the average age of 25 years. Even though not everyone in this survey was my ideal target market, it at least revealed the opinion of people in Tangshan toward my product. In addition, two interviews of two business managers were conducted to gain more business knowledge about how to establish the business successfully and to ensure the successful sales of Alarming. For the secondary research, information on the Internet was accessed in order to identify the demand of this product in this field and key competitor as well. These resources will definitely ensure the successful operation of selling Alarming.3.0 Findings 3.1 Key Competitor’s Marketing MixProduct Various type of productswide range of functions and high product quality.selling throughout the Europe, America and Asia. Its target market is mainly located in large cities with huge purchasing power.Price average price around 1000 RMB.Medium profitPlace In the exclusive shop in the big city, and also in the shopping mall.Some online store, but its scale is much smaller than exclusive shop.Promotion online advertisementSome TV and newspaper advertisementwatch magazines. 3.2 SWOT Analysis for CASIOStrength:Weakness:wide range of unique functionshigh cost recovery and full range of after sale servicesHuge profitHard to get investmentlack of labor forceIt’s more risky that if they meet the inflationOpportunities:Threats Our production is one of the most high quality in the worldTarget market has huge power of consumption, which is expected to be even higher in the future.Our product is specifically designed for the target marketthe lack of large competitor specialized in this field Target market may not get bigger anymore. So that they can’t get more profit.Future promotion and advertising is required lots of moneyFuture expansion may have difficulties due to increasing cost in major citiesSWOT analysis for Casio3.3 Marketing Mix for CASIOProduct 2 marketing mix, both designed for the same objective but they possess different strengthsSpecifically designed for the need of the target market: improve different functions about the watch. MM1 guarantee products with reliable quality but with more expensive than MM2.Price From 1500-2000RMBThis is a price that can maximize our profit without losing too much customerThis is reasonable and affordable for our targeting marketPlace Also in the exclusive shopOnline store will be expanded during the early stage Promotion Weibo and Wechat are used as the main advertising method.Also, leaflet is also a good way.Online discountingOnline lottery drawMarketing Mix for CASIO3.4 Summary of InterviewTopicsKey Finding of Interviewee 01Key Finding of Interviewee 02Places in which the service is delivered?A shopping mall in major cities, It’s very busy here.In the Chinese head office in a very big city.Price (per semester)1200 RMB2,000 RMBPromotiononline advertisementSome TV and newspaper advertisementwatch magazines Mainly InternetSome leaflets. Weibo and WechatAdvantage of product?High quality.They can change the price if they like, but they should think about the risk.High quality and huge profit, and it’s more technique than others