COVER SHEET Analysis Executive Summary Daiso’s stores is a store where you can buy all thing with just 2 Singapore Dollar. Daiso provide a unique experience of curiosity and enjoyment for thousands of customers to go home satisfied, not only in Japan, but also all over the world. Wide range of stores, products, and highly competitive prices never fail to satisfy the discerning customer. There is something that no other company is able to imitate. Three values of “Quality,” “Variety,” and “Uniqueness. ” These three strengths are the pillars of daiso success.
There is no other company like this today. New values never seen anywhere else, combined with exclusive business strategies that bring joy and amazement to customers worldwide are what keep Daiso moving ahead of the competition. Daiso carries nearly 70. 000 products, and almost all of them were developed in house with excellent quality and design. Daiso also have over 3000 stores now, not only in japan but all over the world, making it possible to provide high quality products at lower costs. Daiso itself is very successful in its own country japan.
Ranked Number 1 in a row among female shoppers in the customer satisfaction ranking, 2nd place four times in a row in the overall ranking, Ranked among the top 100 “Famed Business People in the Heisei Era” in “Nihon Keizai Shimbun”. The President of daiso, Mr. Hirotake Yano, was selected as a famed business people in Heisei Era by the Nihon Keisei Shimbun from all among 3. 6 million businesses in japan. And Daiso also ranked 23 in Brand Japan 2010. Daiso’s SWOT analysis Strength Wide Network of Stores Wide Product Fort polio Strong Foothold in Japan Weakness Geographic Concentration Absence in Online Retailing
The Products are not Best Quality Opportunities Expansion through opening of a new store Growth in organic market Favorable government policies Threat Intense competition Declining Workforce Due to Rising Aging Population Slowdown in Japanese Economy The Marketed Product Company : Daiso – Singapore Benefits : You can buy anything in store with just 2 Singapore Dollar, There are many products in the store, there are many stores all over the world, the stores can easily be found. USP : Daiso has a Unique way of selling, that is they sold everything in their store just for 2 Singapore Dollar.
Thats why Daiso is called 2 Dollar Shop. Competitive Position : Daiso’s position in super market industry is quite strong . the competitors includes wal-mart with the same strategy as Daiso’s to keep the price low by purchasing directly from manufactures in very high volumes. 2. Target Market Profile The Target Market : Youth from 10-35 years old that want buy stuff with a cheap price, we sell all kind of product you may need in an affordable price for youth and ten years old kids can also buy stuff like pencil or eraser here because we sell all of our product with the same price.
For 2 dollar each. Perception of Daiso Product : Because it is very cheap with just 2 dollar, so the quality isnt really good. Demographic : live within the red zone line singapore, For example : Jurong East, Bukit Batok, Bukit Gombak, Choa Chu kang, Yew Tee, Kranji, Marsiling,Woodlands, Admiralty, Sembawang, Yishun, Khatib, Yio Chu Kang, Ang Mo Kio, Bishan, Bradell, Toa Payoh, Novena, Newton, Orchard, Somerset, Dhoby Ghaut, City Hall, Raffles Place,Marina Bay. Especially Orchard, Because Orchard is the most well known place in singapore and known as shopping centre in Singapore.
Geographic : there is no need for specific customer, because of the super cheap price that daiso sold, all customer can buy it, even for 10 years old child. Psychographics : Consistent Web users. Prefer the Internet over magazines and newspapers for information they trust Behavior : The customer with the behavior of seeking for a cheap good and services. Target Market DMP Problem Recognition : When you realized you need something or you want to buy something, automatically Problem Recognition will occurs.
Problem Recognition occurs when there’s a difference between one’s desired state and actual state that is sufficient to activate the decision process. For example, you realize that your umbrella cant be used anymore and you need a new one. Information Search : After you know what you need to buy, then you will search all information about it. like where to buy it, where is the cheapest place to buy it,where is to buy a good quality and cheap place to buy it. It is all include in the Information Search.
It has two types of Information Search. That is internal Search and External Search. There are several Sources of External Search : Personal Search : Such as Friends and Family. Public Resources : Various Product Rating Organization such as Consumer Reports. Marketer-Dominated Sources : such as advertising, company websites, and sales-people. Evaluation of Alternatives : After you did the research about the things you wanna buy, of course you will choose the things that you wanna really buy into a consideration set. nd just pick the best one from the consideration set. Purchase Decision : After you choose the best one from the consideration set, next you will go to the next step, that is the purchase step. in this step it is only have 3 probabilities. The 3 Probabilities are : From whom to Buy Which Depends on : Terms of Sale, Past Experience buying from the seller, Return Policy When to Buy Which can be influenced by : Store Atmosphere, Time Pressure, A sale, Pleasantness of the Shopping Experience Do not Buy
Post Purchase : After you buy that product, you will evaluate them whether it exceed your expectation or below your expectation and if it exceed your expectation, of course you will buy them again. and if its not, you wont buy it anymore. Conclusion So, daiso has been the most choice market in singapore, the place that you can buy anything in the store with affordable price,for just 2 dollar each . But because its very cheap, so the quality of the products are not the best quality. Some of them are own brand products and some of them are imported from china. lthough the quality is not that good but this is certainly a place where even a 10 years old kids can buy anything in the store. Recommendation My Recommendation is to increase the quality, produce more product for kids, teen or even old people. But always keep the price low, because that is the strategies that get daiso to the first reccomendation store in singapore or even in japan. References : http://www. daiso-sangyo. co. jp/english/ Consumer Behavior TextBook faculty. babson. edu/isaacson/M_E7000/cons/cons1. doc