ELECTRONIC ASSIGNMENT COVERSHEET
CHARISSA POON YUN ZHI 32014365, EILLY TAN SHUANG LI 32023334, LIM HUI YING LYNETTE 32190901, RACHEL SIM SIM YEE 31323868 Email
7 July 2014
Group Project Report
Mr. Jeffrey Quak
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TABLE OF CONTENT
Mode of Entry
SELECTED MARKETING STRATEGY
Marketing Objectives to be achieved by 31 December 2015
Projected Sales and Costs
IMPLEMENTATION AND CONTROL MECHANISMS
Described as a haven in the euro crisis, Berlin has potential for OSIM to grow and expand its operations in Europe. Having achieved consistent growth for 20 consecutive quarters and establishing strong brand equity, the profits earned will be re-invested to execute the expansion plans. Low levels of brand awareness in the European markets mean that OSIM has to invest in marketing campaigns and activities to increase and establish brand presence. Demand for OSIM’s massage chairs is vulnerable to economic downturn because OSIM’s products are deemed to be luxury goods. Germany is the only European country that is experiencing rising economic growth, with a rise in domestic demand. The existence of the European Union-Singapore Free Trade Agreement (EUSFTA) is a huge advantage for OSIM because it can get to enjoy the elimination of import duties and taxes for its products in Germany. However, one threat to note is the lack of labor supply in Germany - its birth rate is below the replacement rate which could potentially affect productivity growth and thus economic growth.
The OSIM brand will remain as part of the standardization strategy to allow higher chances of brand recall. The designs and concept of the products, technologies and high quality of materials used will also be retained. However, product adaptation will be applied with respect to the elements of Culture and Legal. OSIM will re-engineer the massage chairs to fit the Germans who are considerably bigger size. The language used for...
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Management and Administrative Sciences Review
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Languages Across Europe
Laxly. 2014. Laxly Massage Chairs Series. Accessed July 6, http://www.laxly.com/en/
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OECD Better Life Index
Phillip Capital. 2014. “OSIM International Limited, Growth in the Power of uInfinity”. Phillip Capital Pte Ltd. http://internetfileserver.phillip.com.sg/POEMS/Stocks/Research/ResearchCoverage/SG/OSIM20140507.pdf
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