国际市场营销计划(大学论文).docx

International MarketingFeasibility StudyBring Hvding Into SingaporeAlan Lau Yin Ho 1712 7475, Jason Vicario Dinta 1833 0486, Jung Hun Kim 1822 9725, Ye Wint Aung 1581 5396, Tutor: Lim Boon YeowTutorial Time: Wednesday 1200-1330Table of ContentsExecutive Summary41.0 Introduction52.0 Product Description53.0 Corporate Missions, Visions, and Goals53.1 Mission Statement53.2 Corporate Goals63.2.1 Porters Strategy63.2.2 Ansoffs Matrix63.2.3 BCG Matrix63.2.4 Niche Player74.0 Situation Analysis74.1 External Environment: Macro Environment - PESTEL74.1.1 Political Factors74.1.2 Legal Factors84.1.3 Economic Factors94.1.4 Financial Factors94.1.5 Cultural Factors94.1.6 Technology Factors104.1.7 Environmental Factors114.1.8 Competitive Audit124.2 Micro Environment - Porters Five forces134.2.1 Rivalry among existing firms134.2.2 Threat of new Entrants134.2.3 Threat of Substitutes134.2.4 Bargaining Power of Customers134.2.5 Bargaining Power of Suppliers144.2.6 Identified Customers144.2.7 External Factor Analysis Summary144.3 Internal Environment: Resource Based View Framework154.3.1 Tangible Assets154.3.2 Intangible Assets154.3.3 Heterogeneous154.3.4 Immobile164.3.5 Question of Value164.3.6 Question of Rarity164.3.7 Question of Imitability164.3.8 Question of Organization164.3.9 Internal Factor Analysis Summary175.0 SWOT Analysis185.0.1 Strengths185.0.2 Weakness185.0.3 Opportunities185.0.4 Threats185.1 TOWS Matrix186.0 Marketing Objectives197.0 Target Market197.1 Segment Bases207.1.1 Geographic207.1.2 Demographics207.1.3 Socioeconomics207.1.4 Psychographics207.1.5 Behavior217.1.6 Benefits217.1.7 Market Segment218.0 Marketing Mix Strategies218.1 Product Strategies218.2 Pricing Strategies228.3 Distribution Strategies228.4 Promotion Strategies229.0 Implementation Chart239.0. 1 Implementation Chart from January 2016 to June 2016239.0.2 Implementation Chart from July 2016 to December 2016249.1 Evaluation Chart2510.0 Reference and Appendices26Executive SummaryHvding is a Sweden company that provide bicycle airbag helmet. Hvding has decided to expand into Singapore and the aim of this report will be discussing the feasibility of the Singapore and give some recommendations for Hvding to enter into Singapore Bicycle Gadget Industry.First of all, the report will discuss the product descriptions of Hvding and indicating the corporate missions, visions, and goals. This is to ensure that the consumers are aware of the product and what the company is planning to achieve. The report examines the Porters strategy, Ansoffs matrix, BCG matrix and niche player profile in order to understand the market profile of Hvding. The report will examine the situation analysis by exploring the external environment (PESTEL) and internal environment (SWOT). The strengths, weaknesses, opportunities, and threats will be examined to determine the problems Hvding may face while it enters the Singapore market. In addition, the report will also discuss about the marketing objective of Hvding to enter Singapore market. The marketing objectives are Devoting at least 10% of gross profit between 2016 and 2018 in product design, resulting in airbag helmets for motorcyclists by the end of 2018, devoting at least 10% of gross profit between 2016 and 2018 in product development, resulting in comfortable in tropical wealth by the end of 2018, to generate 50% of awareness among cyclists between 2016 and 2018, and to generate at least 5% brand loyal customers between 2016 and 2018. Furthermore, the report analyses the market segment by analyzing different factors, which are Geographic, Psychographics, Demographics, Socioeconomics, Behavioral, and Benefits. The recommended target segments are Cyclists and YAVIS.Lastly, the report has discusses the marketing mix strategies (4Ps), which is Product, Price, Place, and Promotion strategies. In terms of product strategies, Hvding is recommended to adopt diffusion and adoption strategy and new product strategy. In addition, Hvding is also recommended to adopt price skimming strategy and world pricing strategy. Furthermore, selective distribution strategy and promotion mix strategy (advertising and public relation) are selected for Hvding to market in Singapore. The implementation chart and evaluation chart are for year Jan 2016 to Dec 2016. 1.0 IntroductionHvding was founded in 2005 by the two founders Terese Alstin and Anna Haupt in Malm, Sweden. The Companys main product is Hovding, an airbag helmet for bicyclists. The helmet is in the form of a collar/scarf to be worn around the neck and contains a folded-up airbag, which unfolds in case of an accident and protects the user from damage to the head (Hvding 2015). Currently, the head office of Hvding is located in in Malm, Sweden. Hvding also have a branch in Kunglv. Furthermore, it has their production in Portugal. The idea of developing Hvdings airbag helmet was a response to the introduction of a law on mandatory helmet use for children up to the age of 15 in Sweden, which generated a debate on whether cycle helmets should be mandatory for adults too (Hvding 2015). 2.0 Product DescriptionHvding is the first airbag helmet for cyclists in the world. It works through the advanced sensors, which can sense the cyclists movement patterns, and will protect the cyclists in case of an accident. The unique helmet will then swell, fix the cyclists neck and provide the best shock absorption in the world (Hvding 2015).3.0 Corporate Missions, Visions, and Goals3.1 Mission StatementHvding is the Swedish for “Chieftain” and our Hvding is a leader and a role model, with its sights set on changing the world. We want to encourage others to follow in our footsteps and dare to demand something better, to stand out from the crowd, and believe in themselves and their own capabilities. We may be a small company but we think big and we aim high. Delusions of grandeur are exactly what it takes! (Hvding 2015)3.2 Corporate GoalsHvding is a new kind of helmet for cyclists, which is in the form of a scarf/collar rather than a helmet. This is a brand new product and never seen product in Singapore. Hvding is entering the market as first-in strategy, which indicates that Hvding has a niche market. Therefore, the goal is to reach 10% of market share between 2016 to 2018 towards feasibility studies, resulting in entry into Singapore market by the end of 20 Porters StrategyThe porters generic strategy that will be used by Hvding is differentiation strategy. This strategy involves making Hvdings product more attractive than its competitors and different from them. Hvdings airbag helmet does not work like a traditional cycle helmet, instead of wearing it on the head, you wear it on the neck like a scarf. As of making a success of this strategy, Hvding needs innovation, selling a unique cycle helmet, effective marketing and sales, and keep improving their product (Porters Generic Strategies 2015).3.2.2 Ansoffs MatrixAccording to Ansoffs Matrix, diversification strategy is being implemented by Hvding. Diversification strategy means that Hvding grows by entering new business by inventing or developing a new product for a new market. As mentioned in earlier part, 3.2 Corporate Goals, Hvding airbag for cyclists has never shown in the market, which Hvding airbag has diversified from the competitors by inventing a new form of cycle helmet (Ansoff Matrix 2015).3.2.3 BCG Matrix In terms of BCG Matrix, Hvdings airbag for cyclists is currently between Cash Cows and Stars. This is because Hvdings airbag is a new market that there is only one business in the market. It means it is hard to determine the relative market share but it can be considered as high. Star means the product can generate large amount of cash because of high relative market share and high growth rate. In addition, cash cows is as a leader in the market, it has high relative market share but its growth rate is low (BCG Matrix 2015). 3.2.4 Niche PlayerMoreover, Hvding is currently non-dominant competitive position. Hvding is also facing oligopolistic competition, where Hvding is facing high competition at the price of product among the competitors. The selling price of Hvding 2.0 is considered as high comparing to the traditional helmet. Furthermore, there are two major competitors operating in Singapore for long time, which are Cycle Craft and Decathlon. The major pricing strategy of these two competitors is price reduction strategy, which is attracting price sensitive consumers (Cycle Craft 2015) (Decathlon 2015). Due to the high price of Hvdings product, these two competitors in Singapores market may affect Hvding. In addition, Hvdings airbag is a new kind of helmet rather than traditional helmet. Singaporean may not trust Hvdings airbag due to lack of awareness in Singapore even they know how it works after watching the video.4.0 Situation Analysis 4.1 External Environment: Macro Environment - PESTEL4.1.1 Political FactorsSingapore is a democratic country, in which the people of Singapore elect representatives whom they believe can lead the country. The political risk in Singapore is quite low. In fact, a firm called the Political and Economic Risk Consultancy (PERC) states that the country enjoys the lowest political risk in Asia. (Makos 2015) Since its independence in 1965, the Singapore economy has experienced rapid economic development. The success of Singapores open and outward-oriented development strategy can be seen from Singapores strong economic performance. (Monetary Authority of Singapore 2015) Today, the political stability has shown the peacefulness and higher standards of living for the people living in Singapore. Furthermore, Singapore has flourished into a nation that improves business opportunities for foreigners. (Makos 2015) As we can see from Figure 1, Singapore has the highest political stability index compared to other countries (Singapore Political Stability 2015).Figure 1: Singapore Political Stability: Compare to Other Countries(Singapore Political Stability 2015)4.1.2 Legal FactorsRelatively Low Corporate Tax RateThe current corporate tax rate in Singapore is 17%. Looking at the rate itself, while Singapores marginal rate is already the third lowest in the world, by taking advantage of the incentives, subsidies and schemes that are provided by the government, the effective tax payable will come out even lower. For instance, through its enhanced Productivity and Innovation Credit (PIC) Scheme, the Singapore government has made it possible for a firm to not pay any Singapore corporate tax even if it earns as much as S$28 million annually. (Singapore Company Incorporation 2015) Thus Hovding is able to enjoy a low corporate tax rate and in addition, also enjoy government schemes which further decreases the amount of tax paid. This will increase Hovdings profitability.Consumer Protection (Consumer Goods Safety Requirements) Regulations (CGSR)Consumer goods covered by the CGSR have to meet applicable safety standards. Hovding helmets are required to meet the applicable safety standards provided by the CGSR. The regulations bring the safety of consumer goods in Singapore in line with international standards published by bodies such as the European Committee for Standardisation. (Government of Singapore 2015) Hvding has been tested and certified for CE marking by SP Technical Research institute of Sweden. CE mark is required for cycle helmets sold in Europe, declaring compliance with the EU Directive for personal protective equipment. (Hvding 2015) Thus Hvdings products are accepted in Singapore as it meets the safety requirements as approved by the CGSR through international guidelines.4.1.3 Economic FactorsThe GDP per capita in Singapore is $71 318 in 2014. (Government of Singapore 2015) This shows that Singapore residents are rather well off with decently high standards of living. As Hvding is a high quality and expensive product, it appeals to the middle to upper market. The good economic situation in Singapore means that Hvding has a relatively large target market thus increasing the chance of success for the company. Singapore is ranked as the number 1 globally as the city with the best investment potential and number 2 globally for foreign trade and investment. This is mainly due to Singapores strategic geographic location, globally connected networks, strong legal system and political stability and attractive tax system. (Government of Singapore 2015) 4.1.4 Financial FactorsSingapore as one of capital markets in Asia-Pacfic, Singapore Exange (SGX) is the preferred listing place about 800 companies. In Singapore, foreign listings are the large part on SGX, which is about 40 percent of SGXs listings are foreign organisations, such as Asia-Pacific, especially in South-East Asia, and further afied in Amercia and Europe. There are many power listings in the sectors, such as infrastructure, shipping and offshore marine, and real estate. Singapore is also the largest Real Estate Investment Trust (REIT) in Asia, excluding Japan (Capitial Markets 2015). 4.1.5 Cultural FactorsBased on the statistics of the age of the resident population in Singapore, Singapores population has grown older over the years. Since the year 2000 the number of residents in the older age group has increased significantly. This means that there are more and more elderly people living in Singapore. The median age of the resident population rose from 34.0 years in 2000 to 39.3 years in 2014. (Government of Singapore 2015) Studies have shown that cycling is known to be very important for older people, not only does it have a positive impact on their health but also as a potential way of retaining a sense of independence and confidence. (University of Reading 2015) This will encourage older people to cycle, which mean that Hvding has a larger target market.There are also more residents in the working age group, which means that there are more people with purchasing power. Considering the high price of a Hvding helmet, it is favorable for Hvding that there are more people with higher purchasing power.There are increasing concerns for traffic accidents involving motorcyclists and pillions, there has been an increase of 5.7%, from 4383 in 2013 to 4631 in 2014. (Government of Singapore 2015) These raises safety concerns for bikers and for motorcyclists, which provides an opportunity for Hvding. Even though Hvding helmets are meant for cyclists, this provides an incentive for Hvding to expand to develop a helmet for motorcyclists. Thus able to cater to a larger target market.4.1.6 Technology FactorsFrom 2011 to 2015, under the Research Innovation and Enterprise (RIE) 2015 Plan, the Singapore government have decided to spend another S$16 billion in research, innovation and enterprise to establish Singapore as a world-class Research & Development hub through the development of human, intellectual and industrial capital. (Overview 2015) This shows that Hvding is able to utilize the resources available in Singapore to innovate and improve their products to cater to the local market. As Singapore grows to become a world-class R&D hub, more people are going to view Singapore as a highly advanced country with advanced products and services, which is favorable for Hvding.There is good Internet availability in Singapore, which allows huge opportunities in the digital media and telecommunication network industries. This allows easier advertising through mass communication and social media, which easily gives Hvdings online presence in the Singapore market. It will be easier for Hvding to set up an online store in Singapore.4.1.7 Environmental FactorsWith the recent increase in worldwide concerns on health and environmental issues, created by the motor dominated era, many countries have turned cycling into a mascot for green and sustainable transportation. (Koh and Wong 2012)In Southeast Asia, Singapore is a country famous for its convenient and efficient public transport therefore Singapore has no established cycling culture as a means of transport unlike in western countries. However it is now one of the countries willing to change that. Singapore is spending S$43 million on bike lanes and cycling facilities as part of a national cycling plan. (Malibo 2015)Therefore with the increase in pollution and increasing concerns for healthier environment people have turned to cycling for a healthier lifestyle. This is favorable for Hvding, a company producing innovative and safety helmets to expand into Singapore as more and more people turn to cycling as a means of transportation. 4.1.8 Competitive AuditCompetitionCycle CraftDecathlonCurrent Market StrategyMarket Scope: Single Market Strategy (Cycle Craft 2015) Market Geography: National Strategy (Cycle Craft 2015)Market Scope: Total Market Strategy (Decathlon 2015)Market Geography: Global Strategy (Decathlon 2015) Current Product StrategyBranding Strategy: Umbrella Branding Strategy, whereby several bicycle brands put together under Cycle Craft. (Cycle Craft 2015)Branding Strategy: Umbrella Branding Strategy, whereby several sports brands put together under Decathlon (Decathlon 2015)Current Pricing StrategyPrice Reduction Strategy Price Reduction StrategyCurrent Placement StrategySelective Distribution Strategy: 1 Online Store (Cycle Craft 2015) 1 Store in Singapore (C