BUSM4555
Word Count:
Student Name
RMIT ID
Lim Zhi Jin Rachel
S3709217
Kendra Nina Poh
S3709090
Lecturer’s Name
Lecture Day/Time
Friday, 12pm
Class/Group
LF, Group 68
Submission Date
31 March 2019 (Sunday), 11:59pm
1 Introduction (Denise)3
1.1 Company Background3
1.2 Key Milestones3
1.3 Current Situation4
2 External Environment Analysis (Reina & Phyllis)5
2.1 PESTLE Analysis - Reina5
2.2 Porter’s 5 Forces Analysis - Reina & Phyllis6
2.3 Industry Life Cycle - Phyllis9
3 Competitors Analysis (Denise)9
4 Customer Analysis (Kendra & Rachel)11
4.1 Market Size11
4.2 Market Segmentation12
4.3 Competitors (How competitors segment their market that differs from EYS??)13
4.4 Underserved Segments13
4.5 Factors Influencing Purchase Decisions14
4.6 Opportunities and Threats15
5 Company Internal Analysis (Reina & Phyllis)15
5.1 Porter’s Value Chain - Reina15
5.1.1 Primary Activities and Costs15
5.1.2 Support Activities and Costs16
5.2 Collaborators - Phyllis17
5.3 VRIN Framework - Phyllis17
6 SWOT / TOWS (Kendra & Rachel)18
6.1 SWOT18
6.2 TOWS19
7 Current Company Strategy (everyone)19
7.1 Analysis of Corporate-Level Strategy19
7.2 Analysis of Business-Level Strategy20
8 Recommendations & Implementation (everyone)20
Appendices22
References24
1 Introduction (Denise)
1.1 Company Background
Founded in 1879, the mission of Eu Yan Sang (EYS) is ‘caring for mankind’. The Traditional Chinese Medicine (TCM) company believes in empowering individuals to live their best quality of life through accessible healthcare.
EYS has been a household name for customers of across generations for its high quality and standards. As Asia’s leading TCM health and wellness company, their products combines the art of TCM and the science of medicine. (Euyansang.com.sg, 2019)
1.2 Key Milestones
(Euyansang.com.sg, 2019)
The above figure depicts the key milestones of EYS since its birth till present day operations.
1.3 Current Situation
Since October 2018, EYS has been distributing across 231 retail outlets in China, Hong Kong, Macau, Malaysia, Singapore and Australia. It also runs a chain of 33 TCM clinics in Singapore, Malaysia, Hong Kong and China as well as three food and beverage outlets in Malaysia.
Besides retail outlets and online stores, EYS has made their products available worldwide at drugstores, pharmacies, medical halls, supermarkets, convenience stores, hospitals, health clubs, spas and major online marketplaces. Healthy Life Group Pty Ltd is an associate company which operates in Australia, over a chain of more than 40 Healthy Life stores and a distribution business.
Today, the core strength of EYS lies within its brand name, its product line as well as its diversified distribution network. On top of advertising and promotion in print media, the company is repackaging products and refurbishing older stores to broaden the consumer base by appealing to a wider group of potential customers.
2 External Environment Analysis (Reina & Phyllis)
2.1 ...
Platinum Fitness is a health service company that provides wellness programs to businesses in Shillong, India to improve employee productivity and lower healthcare costs. It was founded by Lahunmiki Myria and will initially focus on small to medium businesses in Shillong. The company aims to create relationships with 20 companies in its first year and expand across India within two years. Platinum Fitness will offer personalized health and fitness programs and work with companies to develop wellness strategies tailored to their needs.
The document summarizes Thailand's efforts to promote growth in the medical industry by becoming a regional hub for medical services. It outlines the Thai government's 10-year strategic plan to focus on wellness, medical services, research, and medical products. The BOI is supporting these efforts through expanded incentive programs for traditional Thai medicine, specialist centers, hospitals in underserved areas, and medical transport. These initiatives aim to address Thailand's aging population and increase accessibility to healthcare. The medical industry is seen as important for sustainable economic development.
Thailand Oral Care Market Analysis Sample ReportInsights10
Thailand's over-the-counter (OTC) pharmaceuticals market size was valued at $137.5 Mn in 2022 and is estimated to expand at a CAGR of 5.36% from 2022 to 2030 and will reach $208.8 Mn in 2030. OTC are non-prescription medications and are a vital component of the healthcare system, offering consumers accessible solutions for a wide range of common health issues. The market is segmented by product type and distribution channel. To get a detailed report, contact us at - info@insights10.com
The Thai government has approved new long-term residence measures to attract retirees and pensioners, including a 10-year visa and property ownership rights. There are two target groups - wealthy global citizens who must invest at least $500,000 or derive $80,000 annual income, and wealthy pensioners aged 50+ who must invest $250,000 or derive $40,000 annual income. The new rules are expected to boost Thailand's appeal as a retirement destination and attract an additional 80,000 retirees over the next few years, benefiting healthcare, tourism, and other industries.
Strategic Review2015-2020Prepared by XYZ Consultants.docxcpatriciarpatricia
Strategic Review
2015-2020
Prepared by XYZ Consultants
Version 1.0
20 September 2016
Table of Contents
1 About FitLife 1
1.1 Background 1
1.2 Mission, Vision and Values 1
2 Goals and Objectives 2
2.1 Goals 2
2.2 General Objectives 2
2.3 Proposed Marketing objectives 2
3 Situation Analysis 3
3.1 SWOT Analysis 3
3.2 Product Portfolio – BCG Boston Matrix 4
3.3 PEST/STEEP Analysis 5
3.4 Trend Analysis 6
4. Competitor Analysis 8
5 Key Statistics 14
6 Financials 16
References 18
Introduction
The health and wellbeing industry is a dynamic sector and plays a critical role in the Australian economy. The industry has grown substantially within the last decade, generating $2.2billion revenue on an annual basis (with 3.5% annual growth rate) through 3265 health clubs housing 32,875 employment opportunities across the country. The industry also plays a key role in improving the health and fitness of Australians.
An evaluation of the company’s internal strengths and weaknesses, external opportunities and threats, market trend analysis, and macro environment study established a groundwork to prepare this strategic review.1 About FitLife1.1 Background
FitLife is a privately-owned Sydney based Australian health club chain with 70 health clubs and 182,000 active members in Australia. FitLife serves as one of the industry leaders in the sport and fitness segment providing multi-purpose fitness venues across the country providing state of the art facilities, equipment and services.
FitLife has its base of operations in North Sydney (Health Club and Head Office), Sydney and operates in each state:
State
Total Health Clubs
Total Members
NSW
38
98,800
QLD
10
26,000
VIC
9
23,400
SA
4
10,400
ACT
3
7,800
WA
3
7,800
TAS
2
5,200
NT
1
2,600
Grand Total
70
182,000
Each health club offers the following facilities and services:
· Gym for weightlifting and cardio
· Gymnastics room (martial arts, boxing and kendo)
· Classes (Pilates, Yoga, BodyPump, Cycle, BodyAttack, Full Body Lift, and FatBurner).1.2 Mission, Vision and Values
The mission, in engagement with the community, is to provide innovative health clubs delivering cutting-edge fitness and lifestyle programs that will motivate people of all ages, backgrounds and abilities to lead active, healthy lives.
The vision is to be regarded as a premier provider of quality fitness, gymnastics and wellness through innovative programs and services that result in measurable and transformational changes in the lives of those they serve.
FitLife are passionate for promoting the quality of life for everyone on the basis of the following values and attitudes in all of their staff, members and the community:
Quality
Accountability
Energy
Mutual Respect
Diversity
Enthusiasm
Integrity
Accountability
Care
Honesty
Responsibility
Professionalism
2 Goals and Objectives
Due to its healthy outlook, the Executive Management would like to allocate a total of $1,061,059 budget to market research and then devel.
The document summarizes Thailand's efforts to capitalize on opportunities from its aging population through foreign investment and smart city initiatives. Thailand is promoting investment in industries like healthcare, pharmaceuticals, medical devices, food supplements, elderly facilities, and digital technologies. The government offers incentives for aging-related businesses and has policies supporting senior well-being and employment. As an example, the city of Saensuk launched a smart city pilot focused on using IoT to improve senior healthcare and independent living through health monitoring devices.
Singapore Dental Care Market Analysis Sample ReportInsights10
Singapore's dental care services market size is at around $43.06 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. This report by Inisghts10 is segmented by treatment type, age group, and by clinical setup, and demography. To get a detailed report, contact us at - info@insights10.com
The document provides an overview and analysis of the pathology industry in India. Some key points:
1) The pathology sector in India is expected to grow at a CAGR of 16-18% and reach 400-500 billion INR in the next 3 years, driven by factors like increasing healthcare awareness, shift to chronic diseases, and growth in health insurance coverage.
2) The industry is currently highly fragmented with many small standalone laboratories. Major organized players are expanding use franchising models and hub-and-spoke networks to increase coverage.
3) Key trends driving growth include the shift from infectious to lifestyle diseases, increasing use of technology like telemedicine and automation, and government initiatives to strengthen the healthcare system
Platinum Fitness is a health service company that provides wellness programs to businesses in Shillong, India to improve employee productivity and lower healthcare costs. It was founded by Lahunmiki Myria and will initially focus on small to medium businesses in Shillong. The company aims to create relationships with 20 companies in its first year and expand across India within two years. Platinum Fitness will offer personalized health and fitness programs and work with companies to develop wellness strategies tailored to their needs.
The document summarizes Thailand's efforts to promote growth in the medical industry by becoming a regional hub for medical services. It outlines the Thai government's 10-year strategic plan to focus on wellness, medical services, research, and medical products. The BOI is supporting these efforts through expanded incentive programs for traditional Thai medicine, specialist centers, hospitals in underserved areas, and medical transport. These initiatives aim to address Thailand's aging population and increase accessibility to healthcare. The medical industry is seen as important for sustainable economic development.
Thailand Oral Care Market Analysis Sample ReportInsights10
Thailand's over-the-counter (OTC) pharmaceuticals market size was valued at $137.5 Mn in 2022 and is estimated to expand at a CAGR of 5.36% from 2022 to 2030 and will reach $208.8 Mn in 2030. OTC are non-prescription medications and are a vital component of the healthcare system, offering consumers accessible solutions for a wide range of common health issues. The market is segmented by product type and distribution channel. To get a detailed report, contact us at - info@insights10.com
The Thai government has approved new long-term residence measures to attract retirees and pensioners, including a 10-year visa and property ownership rights. There are two target groups - wealthy global citizens who must invest at least $500,000 or derive $80,000 annual income, and wealthy pensioners aged 50+ who must invest $250,000 or derive $40,000 annual income. The new rules are expected to boost Thailand's appeal as a retirement destination and attract an additional 80,000 retirees over the next few years, benefiting healthcare, tourism, and other industries.
Strategic Review2015-2020Prepared by XYZ Consultants.docxcpatriciarpatricia
Strategic Review
2015-2020
Prepared by XYZ Consultants
Version 1.0
20 September 2016
Table of Contents
1 About FitLife 1
1.1 Background 1
1.2 Mission, Vision and Values 1
2 Goals and Objectives 2
2.1 Goals 2
2.2 General Objectives 2
2.3 Proposed Marketing objectives 2
3 Situation Analysis 3
3.1 SWOT Analysis 3
3.2 Product Portfolio – BCG Boston Matrix 4
3.3 PEST/STEEP Analysis 5
3.4 Trend Analysis 6
4. Competitor Analysis 8
5 Key Statistics 14
6 Financials 16
References 18
Introduction
The health and wellbeing industry is a dynamic sector and plays a critical role in the Australian economy. The industry has grown substantially within the last decade, generating $2.2billion revenue on an annual basis (with 3.5% annual growth rate) through 3265 health clubs housing 32,875 employment opportunities across the country. The industry also plays a key role in improving the health and fitness of Australians.
An evaluation of the company’s internal strengths and weaknesses, external opportunities and threats, market trend analysis, and macro environment study established a groundwork to prepare this strategic review.1 About FitLife1.1 Background
FitLife is a privately-owned Sydney based Australian health club chain with 70 health clubs and 182,000 active members in Australia. FitLife serves as one of the industry leaders in the sport and fitness segment providing multi-purpose fitness venues across the country providing state of the art facilities, equipment and services.
FitLife has its base of operations in North Sydney (Health Club and Head Office), Sydney and operates in each state:
State
Total Health Clubs
Total Members
NSW
38
98,800
QLD
10
26,000
VIC
9
23,400
SA
4
10,400
ACT
3
7,800
WA
3
7,800
TAS
2
5,200
NT
1
2,600
Grand Total
70
182,000
Each health club offers the following facilities and services:
· Gym for weightlifting and cardio
· Gymnastics room (martial arts, boxing and kendo)
· Classes (Pilates, Yoga, BodyPump, Cycle, BodyAttack, Full Body Lift, and FatBurner).1.2 Mission, Vision and Values
The mission, in engagement with the community, is to provide innovative health clubs delivering cutting-edge fitness and lifestyle programs that will motivate people of all ages, backgrounds and abilities to lead active, healthy lives.
The vision is to be regarded as a premier provider of quality fitness, gymnastics and wellness through innovative programs and services that result in measurable and transformational changes in the lives of those they serve.
FitLife are passionate for promoting the quality of life for everyone on the basis of the following values and attitudes in all of their staff, members and the community:
Quality
Accountability
Energy
Mutual Respect
Diversity
Enthusiasm
Integrity
Accountability
Care
Honesty
Responsibility
Professionalism
2 Goals and Objectives
Due to its healthy outlook, the Executive Management would like to allocate a total of $1,061,059 budget to market research and then devel.
The document summarizes Thailand's efforts to capitalize on opportunities from its aging population through foreign investment and smart city initiatives. Thailand is promoting investment in industries like healthcare, pharmaceuticals, medical devices, food supplements, elderly facilities, and digital technologies. The government offers incentives for aging-related businesses and has policies supporting senior well-being and employment. As an example, the city of Saensuk launched a smart city pilot focused on using IoT to improve senior healthcare and independent living through health monitoring devices.
Singapore Dental Care Market Analysis Sample ReportInsights10
Singapore's dental care services market size is at around $43.06 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. This report by Inisghts10 is segmented by treatment type, age group, and by clinical setup, and demography. To get a detailed report, contact us at - info@insights10.com
The document provides an overview and analysis of the pathology industry in India. Some key points:
1) The pathology sector in India is expected to grow at a CAGR of 16-18% and reach 400-500 billion INR in the next 3 years, driven by factors like increasing healthcare awareness, shift to chronic diseases, and growth in health insurance coverage.
2) The industry is currently highly fragmented with many small standalone laboratories. Major organized players are expanding use franchising models and hub-and-spoke networks to increase coverage.
3) Key trends driving growth include the shift from infectious to lifestyle diseases, increasing use of technology like telemedicine and automation, and government initiatives to strengthen the healthcare system
Singapore Physiotherapy Market Report 2022 to 2030Insights10
Physiotherapy is widely available in Singapore and is covered by most insurance plans due to which the Singapore physiotherapy market is expected to grow with a market size of about $64 Mn to $101 Mn with a CAGR of 5.85% for the period 2022-2030. As the population ages and the prevalence of chronic conditions increases, more will be growth in the physiotherapy market in Singapore. The market is segmented by equipment, application, and by service type. Some of the major companies in the Singapore physiotherapy market are BTL, DJO Global, and Enraf-Nonius.
This document brings together a set
of latest data points and publicly
available information relevant for
Healthcare Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
Thailand In Vitro Fertilisation (IVF) Service Market Analysis Sample ReportInsights10
This report presents a strategic analysis of Thailand's In Vitro Fertilisation (IVF) Service Market and a forecast for its development in the medium and long term. It provides a broad overview of the market dynamics, trends and insights, growth drivers and restraints, segmentation, competitive landscape, healthcare policies and regulatory framework, reimbursement scenario, challenges and future outlook. To get a detailed report, contact us at - info@insights10.com
By 2030, it is anticipated that the Thailand nutrition and supplements market will reach a value of $xx Mn from $xx Mn in 2022, growing at a CAGR of xx% during 2022-2030. The market is primarily dominated by local players such as Bio Rich Group, BBI Healthcare, and Win Health Products. To get a detailed report, contact us at - info@insights10.com
An Analytical Study On Indian Health Insurance Sector And Its SustainabilityBrittany Allen
This document provides an analytical study of the Indian health insurance sector and its sustainability over the past 7 years. It finds that premium collection has grown 42% annually, policies have increased by 20.35% annually through compound growth, and members have grown by 36.84%, though this growth is not statistically significant. The regulatory environment has become more competitive with new players entering the market and awareness rising among consumers. Third party administrators now facilitate cashless payments and provider networks to reduce costs for insurance companies while improving access and ease of use for consumers. Overall the sector is transforming significantly.
This document provides an overview of the sport, fitness and recreation industries in Australia and identifies key workforce development issues. It acknowledges that while organised sport participation is declining, personal training and fitness services are growing. This is challenging sport clubs but various initiatives aim to support grassroots sport. The fitness industry has also broadened its focus to holistic health advice. Overall, employment in sport, fitness and recreation grew 36.4% from 2006 to 2011, though future growth is expected to moderate. Workforce issues faced include adapting to industry changes, retaining employees, and managing volunteers and seasonality.
Report: Recruitment in Pharmaceutical & Medical Devices in VietnamNavigos Group
Ho Chi Minh City, June 22, 2020 - Navigos Group, the leading provider of human resources services in Vietnam, publishes a report on “Pharmaceutical and Medical devices industry: distinctive features in recruitment and working environment” (in the report, will be referred to as Pharmaceutical industry). The report was conducted based on the analysis of the survey results of 601 candidates and 43 employers in the field of Pharmaceutical and Medical Devices in the database of Navigos Group.
The document discusses the past, present, and future of the global health care industry. In the past 10 years (2003-2013), the industry advanced significantly through new technologies like MRI and CT scans. Financing also expanded from government to include private investors and institutions. Currently, the industry relies heavily on technology and sees continued growth in spending, especially in the US. The future expects further technological changes like health apps but also concerns over rising costs and reduced employment as technology replaces some jobs.
The perfect health system - Dr Mark BritnellNuffield Trust
At the first keynote for the Nuffield Trust Health Policy Summit 2016, Mark Britnell gives an overview of key characteristics of effective health systems.
This document is a report on the healthcare industry in India prepared by a student for a course assignment. It provides an introduction to the healthcare industry in India, outlines key drivers of growth, discusses the industry's contribution to the economy, analyzes market size, investment, government initiatives, major players, and performs a PESTEL analysis. It also examines Porter's five forces model, future growth opportunities, threats, trends, and the impacts of the national budget on the industry. The report was prepared to fulfill an assignment requirement and provide an overview of the current state of the healthcare industry in India.
1. The document proposes a plan for a private company to generate health records and provide personalized diet plans for citizens linked to their UID number, with the goal of helping various government health programs and initiatives.
2. It describes how the company would collect health data, develop diet plans using artificial intelligence and dieticians, and provide a "smart health card" containing medical information to citizens.
3. The plan aims to financially sustain itself through partnerships with companies testing new food and pharmaceutical products, advertisements, and selling food products online, without requiring government funds. It argues this could help address various health challenges while empowering citizens.
The document provides an overview of the wellness and beauty industry in India. It defines wellness as a state of healthy balance that results in overall well-being. The wellness industry is segmented into nutraceuticals, alternative therapies, and fitness and slimming. Nutraceuticals include functional food, functional beverages, and health supplements. Alternative therapies discussed include Ayurveda, yoga, naturopathy, Unani, Siddha, Sowa-Rigpa, and homeopathy. Fitness and slimming focuses on exercise and nutrition. The beauty industry encompasses salons, spas for rejuvenation, and aesthetic dermatology services. The document also provides details on each of these segments
The document provides an overview of predictions for the healthcare and life sciences industries in Southeast Asia by 2020. It discusses 10 key predictions, including: 1) Health consumers in Southeast Asia will become more informed but progress will vary by country; 2) Healthcare delivery systems will expand access through public-private partnerships and technology, though challenges remain providing universal care; 3) Frugal innovations will be key to meeting regional needs. The supplement analyzes how these predictions may differ across Southeast Asian countries given varying economic and healthcare development levels.
The document discusses the future outlook for the healthcare and medical industries globally and in Thailand. It notes that rapid technological developments are driving increased interest from investors. Precision medicine and innovations like artificial intelligence, 3D printing, virtual reality, and robotic surgery are expanding treatment options. Thailand is positioning itself as an attractive market and is developing its medical industry through technology and innovation. The healthcare sector in Thailand is expected to continue growing strongly, driven by demand for pharmaceuticals and medical services to support the aging population and rising non-communicable diseases.
The 2016 IMS APAC Insight Magazine provide insights to unveils new areas of play, new methodologies and new geographies that are poised to disrupt the healthcare landscape in this region.
Pharma Field Force Excellence and BrandStorm 2015Anup Soans
Inside this Issue
1. Waiting for Change by K. Hariram
A majority of Indians lack access to affordable healthcare. Will the new year bode well for them?
2. First-Time Managers by Madan Panathula
5 important reasons to groom first-time managers for the job.
3. The Future of Incentive Calculation by Amit Jain
Sophistication and transparency are two reasons among many to move from Excel-based incentive calculation to a tailor-made, cloud-based solution.
4. The Future of Pharma: Moving Beyond the Pill by Hanno Wolfram
The future of pharma lies in creating “intangible assets” by “treating patients” rather than simply pushing drug sales.
1) Catasys is a healthcare company that uses AI and telehealth to engage with members who avoid care through their OnTrak program, driving lasting behavior change and lowering costs.
2) Their proprietary PRE platform uses machine learning to identify high-cost members with behavioral health conditions and comorbidities who are not seeking treatment.
3) Catasys sees significant growth opportunities in expanding their OnTrak program to more health plans and states based on their track record of 54% savings per member and nearly 5:1 ROI for health plans.
1-2paragraphsapa formatWelcome to Module 6. Divers.docxjasoninnes20
1-2
paragraphs
apa format
Welcome to Module 6. Diversity can help ensure that a team has the skills and knowledge necessary for the successful completion of tasks. Diverse teams, as long as they are well managed, tend to be more creative and achieve goals more efficiently. Leaders must understand and appreciate the diversity that exists in their team. Answer the following question as you think about the diversity that exists within your own organization.
How does this diversity help your team achieve its goals?
Have you noticed any barriers to team unity that may be attributed to the diversity of team members' backgrounds?
How has your background and experience prepared you to be an effective leader in an organization that holds diversity and inclusion as core to its mission and values?
.
1-Post a two-paragraph summary of the lecture; 2- Review the li.docxjasoninnes20
1-Post a two-paragraph summary of the lecture;
2- Review the links and select one. Briefly explain how they support our curse.
http://www.fldoe.org/
http://www.eric.ed.gov/ERICWebPortal/Home.portal
http://firn.edu/doe/sas/ftce/ftcecomp.htm
Use APA 7.
each work separately.
.
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Physiotherapy is widely available in Singapore and is covered by most insurance plans due to which the Singapore physiotherapy market is expected to grow with a market size of about $64 Mn to $101 Mn with a CAGR of 5.85% for the period 2022-2030. As the population ages and the prevalence of chronic conditions increases, more will be growth in the physiotherapy market in Singapore. The market is segmented by equipment, application, and by service type. Some of the major companies in the Singapore physiotherapy market are BTL, DJO Global, and Enraf-Nonius.
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excited to share this content and
believe that readers will benefit from
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This document provides an overview of the sport, fitness and recreation industries in Australia and identifies key workforce development issues. It acknowledges that while organised sport participation is declining, personal training and fitness services are growing. This is challenging sport clubs but various initiatives aim to support grassroots sport. The fitness industry has also broadened its focus to holistic health advice. Overall, employment in sport, fitness and recreation grew 36.4% from 2006 to 2011, though future growth is expected to moderate. Workforce issues faced include adapting to industry changes, retaining employees, and managing volunteers and seasonality.
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Ho Chi Minh City, June 22, 2020 - Navigos Group, the leading provider of human resources services in Vietnam, publishes a report on “Pharmaceutical and Medical devices industry: distinctive features in recruitment and working environment” (in the report, will be referred to as Pharmaceutical industry). The report was conducted based on the analysis of the survey results of 601 candidates and 43 employers in the field of Pharmaceutical and Medical Devices in the database of Navigos Group.
The document discusses the past, present, and future of the global health care industry. In the past 10 years (2003-2013), the industry advanced significantly through new technologies like MRI and CT scans. Financing also expanded from government to include private investors and institutions. Currently, the industry relies heavily on technology and sees continued growth in spending, especially in the US. The future expects further technological changes like health apps but also concerns over rising costs and reduced employment as technology replaces some jobs.
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At the first keynote for the Nuffield Trust Health Policy Summit 2016, Mark Britnell gives an overview of key characteristics of effective health systems.
This document is a report on the healthcare industry in India prepared by a student for a course assignment. It provides an introduction to the healthcare industry in India, outlines key drivers of growth, discusses the industry's contribution to the economy, analyzes market size, investment, government initiatives, major players, and performs a PESTEL analysis. It also examines Porter's five forces model, future growth opportunities, threats, trends, and the impacts of the national budget on the industry. The report was prepared to fulfill an assignment requirement and provide an overview of the current state of the healthcare industry in India.
1. The document proposes a plan for a private company to generate health records and provide personalized diet plans for citizens linked to their UID number, with the goal of helping various government health programs and initiatives.
2. It describes how the company would collect health data, develop diet plans using artificial intelligence and dieticians, and provide a "smart health card" containing medical information to citizens.
3. The plan aims to financially sustain itself through partnerships with companies testing new food and pharmaceutical products, advertisements, and selling food products online, without requiring government funds. It argues this could help address various health challenges while empowering citizens.
The document provides an overview of the wellness and beauty industry in India. It defines wellness as a state of healthy balance that results in overall well-being. The wellness industry is segmented into nutraceuticals, alternative therapies, and fitness and slimming. Nutraceuticals include functional food, functional beverages, and health supplements. Alternative therapies discussed include Ayurveda, yoga, naturopathy, Unani, Siddha, Sowa-Rigpa, and homeopathy. Fitness and slimming focuses on exercise and nutrition. The beauty industry encompasses salons, spas for rejuvenation, and aesthetic dermatology services. The document also provides details on each of these segments
The document provides an overview of predictions for the healthcare and life sciences industries in Southeast Asia by 2020. It discusses 10 key predictions, including: 1) Health consumers in Southeast Asia will become more informed but progress will vary by country; 2) Healthcare delivery systems will expand access through public-private partnerships and technology, though challenges remain providing universal care; 3) Frugal innovations will be key to meeting regional needs. The supplement analyzes how these predictions may differ across Southeast Asian countries given varying economic and healthcare development levels.
The document discusses the future outlook for the healthcare and medical industries globally and in Thailand. It notes that rapid technological developments are driving increased interest from investors. Precision medicine and innovations like artificial intelligence, 3D printing, virtual reality, and robotic surgery are expanding treatment options. Thailand is positioning itself as an attractive market and is developing its medical industry through technology and innovation. The healthcare sector in Thailand is expected to continue growing strongly, driven by demand for pharmaceuticals and medical services to support the aging population and rising non-communicable diseases.
The 2016 IMS APAC Insight Magazine provide insights to unveils new areas of play, new methodologies and new geographies that are poised to disrupt the healthcare landscape in this region.
Pharma Field Force Excellence and BrandStorm 2015Anup Soans
Inside this Issue
1. Waiting for Change by K. Hariram
A majority of Indians lack access to affordable healthcare. Will the new year bode well for them?
2. First-Time Managers by Madan Panathula
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3. The Future of Incentive Calculation by Amit Jain
Sophistication and transparency are two reasons among many to move from Excel-based incentive calculation to a tailor-made, cloud-based solution.
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1) Catasys is a healthcare company that uses AI and telehealth to engage with members who avoid care through their OnTrak program, driving lasting behavior change and lowering costs.
2) Their proprietary PRE platform uses machine learning to identify high-cost members with behavioral health conditions and comorbidities who are not seeking treatment.
3) Catasys sees significant growth opportunities in expanding their OnTrak program to more health plans and states based on their track record of 54% savings per member and nearly 5:1 ROI for health plans.
1-2paragraphsapa formatWelcome to Module 6. Divers.docxjasoninnes20
1-2
paragraphs
apa format
Welcome to Module 6. Diversity can help ensure that a team has the skills and knowledge necessary for the successful completion of tasks. Diverse teams, as long as they are well managed, tend to be more creative and achieve goals more efficiently. Leaders must understand and appreciate the diversity that exists in their team. Answer the following question as you think about the diversity that exists within your own organization.
How does this diversity help your team achieve its goals?
Have you noticed any barriers to team unity that may be attributed to the diversity of team members' backgrounds?
How has your background and experience prepared you to be an effective leader in an organization that holds diversity and inclusion as core to its mission and values?
.
1-Post a two-paragraph summary of the lecture; 2- Review the li.docxjasoninnes20
1-Post a two-paragraph summary of the lecture;
2- Review the links and select one. Briefly explain how they support our curse.
http://www.fldoe.org/
http://www.eric.ed.gov/ERICWebPortal/Home.portal
http://firn.edu/doe/sas/ftce/ftcecomp.htm
Use APA 7.
each work separately.
.
1-What are the pros and cons of parole. Discuss!2-Discuss ways t.docxjasoninnes20
1-What are the pros and cons of parole. Discuss!
2-Discuss ways to improve parole so that offenders have a better chance of being successful in the community
3-What are the barriers that parolees face when they return to the community that contribute to them failing. Give a relative example!
Submit in 3 paragraphs
.
1-page (max) proposal including a Title, Executive Summary, Outline,.docxjasoninnes20
1-page (max) proposal including a Title, Executive Summary, Outline, Team members, Task Assignment and Duration (who is doing what part). Include your anticipated dataset(s) and techniques/software. Please provide a list of the main references you want to use for your project in any appropriate format, e.g. Vancouver or APA style.
proposal is due by october 7th 2020 at 12pm est
project by 25th october
instructions for project are in the folder
.
1-Identify the benefits of sharing your action research with oth.docxjasoninnes20
1-Identify the benefits of sharing your action research with others.
-How does sharing your action research assist you in achieving your goal to improve the lives of your students?
2-Describe the criteria used to judge action research.
-What determines if your action research study gets published?
3-Identify one Web site resource (ERIC)and describe how it assisted you in designing, implementing, evaluating, writing and/or sharing your action research. Choose any one of the Web site sources listed in chapter 10(last page of attachment)
4-Why does Mills suggest in the last chapter of his book that this is really the beginning of your work?( start page 291)
Source:
Mills, G. E. (2000). Action research: A guide for the teacher researcher. Prentice-Hall, Inc., One Lake Street, Upper Saddle River, New Jersey 07458.
.
1-page APA 7 the edition No referenceDescription of Personal a.docxjasoninnes20
1-page APA 7 the edition / No reference
Description of Personal and Professional Goals My personal goal within the health care field is to become a successful and exceptional
nurse.
1-page APA 7 the edition / No reference
Reflection of the program Discussions about the program has helped my growth as a capable nurse. And talk about how good the program.
.
1-Pretend that you are a new teacher. You see that one of your st.docxjasoninnes20
A student is bullying their peers by teasing, joking, and targeting students who appear less socially adept. The bullying goes beyond friendly banter and often leaves victims feeling hurt and ashamed. As a new teacher, steps should be taken to stop the bullying and build the self-esteem of targeted students. The causes of the bullying behavior need to be addressed, and a tiered behavior management program could help encourage student success.
1- What is the difference between a multi-valued attribute and a.docxjasoninnes20
1- What is the difference between a multi-valued attribute and a composite attribute? Give examples.
2- Create an ERD for the following requirements (You can use Dia diagramming tool to create your ERD):
Some Tiny College staff employees are information technology (IT) personnel. Some IT personnel provide technology support for academic programs, some provide technology infrastructure support, and some provide support for both. IT personnel are not professors; they are required to take periodic training to retain their technical expertise. Tiny College tracks all IT personnel training by date, type, and results (completed vs. not completed).
.
1- What is a Relational Algebra What are the operators. Explain.docxjasoninnes20
1- What is a Relational Algebra? What are the operators. Explain each.
2- What is the
INNER JOIN
operation between the following two relations (data sets or tables of data).
Hint: Use OWNER_ID column as common column between the two tables and list all columns of the two tables that have common OWNER_ID.
.
1- Watch the movie Don Quixote, which is an adaptation of Cerv.docxjasoninnes20
1-
Watch the movie
Don Quixote
, which is an adaptation of Cervantes' novel
Don Quixote
. Then, write at least two paragraphs (minimum five well-developed sentences per paragraph) to explain a lesson one could learn from the characters. You need to incorporate at least three of the ideas provided below:
The value of friendship
Humility and nobility
Importance of time
Importance of reading
Importance of optimism
The role of imagination and vision
Justifying commitment
Sense of self and disciple
Building leadership
.
1- reply to both below, no more than 75 words per each. PSY 771.docxjasoninnes20
1- reply to both below, no more than 75 words per each.
PSY 7710
4 days ago
Karissa Milano
unit 9 discussion scenario 3
COLLAPSE
ABA Procedure: A DRO (differential reinforcement of other behavior) to address SIB exhibited by a toddler in a home setting.
Special Methods: Any appropriate behaviors other than SIB will be reinforced through a specific amount of time (every five minutes). Reinforcement is only given when the individual does not engage in SIB behaviors.
Risks
Notes
1 Implementing the plan at home can be difficult.
1 The family might be concerned with their safety and the safety of the child. There should be a protocol before implementing this intervention.
2 Family members and client could be at risk for danger.
2 The parents might be concerned for the safety of themselves and their child.
3 Possible increase in SIB
3 SIB behaviors might increase before it decreases due to an extinction burst. The behavior analyst should have a protocol before implementing this intervention.
4 SIB behaviors could remain the same.
4 If there is no change in the clients SIB behaviors then a preference test should be conducted to determine motivating reinfoncers.
Benefits
Notes
1 Generalization
1 The client will learn to use this skill at home as well as be able generalize this skill into other settings.
2 Improved learning environment
2 SIB behaviors will decrease and appropriate behavior will be taught. SIB will no longer impact the client and family in the future.
3 Increase in appropriate behaviors
3 Appropriate behaviors will be taught and replace the SIB behavior.
4 Least intrusive intervention
4 Using reinforcement to decrease the problem behavior and increase appropriate behaviors. This is a least restrictive method of treatment.
5 Parent training and involvement
5 Parents will feel confident about implementing this evidence based treatment at home. This will can lead to an increase a buy in from the family and they will feel comfortable implementing other interventions in the future.
Summary: DRO is an intervention that is used when the client does not engage in the problem behavior (SIB) (Bailey & Burch, 2016). Reinforcement should only be given to the individual after a certain amount of time that the client is not engaging in the problem behavior; in this case it should be after five minutes of the client not engaging in SIB. The person who is implementing this treatment should not reinforce the problem behavior. The benefits of implementing DRO outweigh the risks of implementing DRO. DRO is a good intervention to use when decreasing SIB behavior. Although there are some risks, the individual who is implementing DRO should have the knowledge, training and experience and be confident when implementing DRO ( Bailey & Burch, 2016).
Reference
Bailey, J. S., & Burch, M. R. (2016).
Ethics for behavior analysts
(3rd ed.). New York, NY: Routledge.
PSY 7711
3 days ago
Emily Gentile
Unit 9 Discussion
C.
1- Pathogenesis 2- Organs affected in the body 3- Chain of i.docxjasoninnes20
1- Pathogenesis
2- Organs affected in the body
3- Chain of infection and its Links associated: Infectious agent, Reservoirs, Portal of Exit, Route of Transmission, portal of Entry, and Susceptible Host. All must to be defined in the chosen agent.
4- Incidence, Prevalence, and Prevention of this infectious disease
5- Treatment if possible
6- Please answer, being a Nurse. “How are you going to break down the chain of infection of the selected microorganisms, to avoid Cross Contamination ?
.
1- I can totally see where there would be tension between.docxjasoninnes20
1- I can totally see where there would be tension between these two, especially in today’s world. I am no expert on religion or science for that matter, but I do feel like some of the tension is unnecessary. I feel that the two can work to benefit our patients by balancing them with the needs of the patient. Let’s take my kids for instance, if they were sick with some known treatable disease there would be no other option in my mind to treat them with science and medicine that has been proven to work. I wouldn’t only pray for them to get better and not do anything about it, but I would pray for them and do whatever was necessary to help my family deal with the stress and worry of a child being sick. Here we have used them both to our benefit and they each serve a different purpose and effectiveness. Thanks again for your post!
2-My perception of the tension between science and religion is founded at first glance and then not when looked at more closely. Science and religion can coincide in health care if respected for their own strengths and limitations. I feel that a healthy balance of both can benefit our patients providing different needs when they’re needed. I have seen with my own eyes CRP markers drop in an infant receiving antibiotic treatment and I have also seen an infant that wasn’t supposed to live by scientific probability actually make it and thrive with prayer being the only obvious intervention. So, trying to single out one over the other as more effective than the other seems less beneficial than trying to work them both in when the patient requires such help.
I feel that science is good for some of the more usual cases and things we feel we can help with its information, and I also feel that we can use religion to help a patient with their mental aspects of healing. We can quantify an improvement in a patient through lab levels and such, but it's hard to do the same with religion and how a patient uses that tool as comfort or however they use it in their lives. “Some observational studies suggest that people who have regular spiritual practices tend to live longer. Another study points to a possible mechanism: interleukin (IL)-6. Increased levels of IL-6 are associated with an increased incidence of disease. A research study involving 1700 older adults showed that those who attended church were half as likely to have elevated levels of IL-6. The authors hypothesized that religious commitment may improve stress control by offering better coping mechanisms, richer social support, and the strength of personal values and worldview” (NCBI, 2001). In this example we see the benefits were surveyed to be founded, but the exact workings aren’t exactly known. The great thing about science is that usually we have some tangible results that are repeatable and there’s safety to be found in that. The great thing about religion is that we can have faith in whatever we believe in and that’s all that’s needed. It's our.
1- One of the most difficult challenges leaders face is to integrate.docxjasoninnes20
1- One of the most difficult challenges leaders face is to integrate their task and relationship behaviors. Do you see this as a challenge in your own leadership? How do you integrate task and relationship behaviors?
2- If you were to change in an effort to improve your leadership, what aspect of your style would you change? Would you try to be more task oriented or more relationship oriented?
.
1- Design one assignment of the Word Find (education word) and the o.docxjasoninnes20
1- Design one assignment of the Word Find (education word) and the one of Using Digital Technology in two separate attachments, each named. Note that a sample of each is located in attachment.
2- Read the lecture and post a one-paragraph summary of the lecture. (Graphic organizers).
.
1- This chapter suggests that emotional intelligence is an interpers.docxjasoninnes20
1- This chapter suggests that emotional intelligence is an interpersonal leadership whether you agree or disagree with this assumption. As you think about your own leadership, do emotions help or hinder your role as a leader? Discuss.
2- One unique aspect of leadership skills is that they can be practiced. List and briefly describe three things you could do to improve administrative skills.
.
1-2 pages APA format1. overall purpose of site 2. resources .docxjasoninnes20
This document outlines requirements for a 1-2 page paper in APA format. It must include 3 headings addressing the overall purpose of the site, resources available to social workers, and how these resources can be used in assessments or interventions with children. A reference page for the site is also required.
1-Define Energy.2- What is Potential energy3- What is K.docxjasoninnes20
This document defines energy and different types of energy like potential and kinetic energy. It also defines metabolism, listing the two main types and defines enzymes, naming the most important classes. It asks to name the three metabolic pathways and defines aerobic cellular respiration and anaerobic respiration. It defines fermentation and asks to name the final products of anaerobic respiration. It asks about the main function of enzymes, names the six types of enzymes and defines energy of activation. It asks about factors that affect enzyme activity and defines what a cofactor is.
1- Find one quote from chapter 7-9. Explain why this quote stood.docxjasoninnes20
1- Find one quote from chapter 7-9. Explain why this quote stood out to you. What is its importance?
2- Discussion 7-9
1-Share your quote and ideas.
2- “violence is the only lever big enough to move the world”
3-Compare and contrast Elwood and Turner.
4-Why is Turner right? Why is he wrong?
5- Theme. reading vs reals world, inside vs outside, optimism vs pessimism, violence, division of lower class among racial lines.
7- “violence is the only lever big enough to move the world”
.
1-Confucianism2-ShintoChoose one of the religious system.docxjasoninnes20
1-Confucianism
2-Shinto
Choose one of the religious systems above; find some point of interest to discuss (350 wds). You may use your textbook OR any other reputable encyclopedia or source. ALWAYS CITE your source.
To support your response you are required to provide at least one supporting reference with proper citation
.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
Azure Interview Questions and Answers PDF By ScholarHat
BUSM4555 Word Count Student NameRMIT IDLim Zhi .docx
1. BUSM4555
Word Count:
Student Name
RMIT ID
Lim Zhi Jin Rachel
S3709217
Kendra Nina Poh
S3709090
Lecturer’s Name
Lecture Day/Time
Friday, 12pm
Class/Group
LF, Group 68
Submission Date
31 March 2019 (Sunday), 11:59pm
1 Introduction (Denise)3
1.1 Company Background3
1.2 Key Milestones3
2. 1.3 Current Situation4
2 External Environment Analysis (Reina & Phyllis)5
2.1 PESTLE Analysis - Reina5
2.2 Porter’s 5 Forces Analysis - Reina & Phyllis6
2.3 Industry Life Cycle - Phyllis9
3 Competitors Analysis (Denise)9
4 Customer Analysis (Kendra & Rachel)11
4.1 Market Size11
4.2 Market Segmentation12
4.3 Competitors (How competitors segment their market that
differs from EYS??)13
4.4 Underserved Segments13
4.5 Factors Influencing Purchase Decisions14
4.6 Opportunities and Threats15
5 Company Internal Analysis (Reina & Phyllis)15
5.1 Porter’s Value Chain - Reina15
5.1.1 Primary Activities and Costs15
5.1.2 Support Activities and Costs16
5.2 Collaborators - Phyllis17
5.3 VRIN Framework - Phyllis17
6 SWOT / TOWS (Kendra & Rachel)18
6.1 SWOT18
6.2 TOWS19
7 Current Company Strategy (everyone)19
7.1 Analysis of Corporate-Level Strategy19
7.2 Analysis of Business-Level Strategy20
8 Recommendations & Implementation (everyone)20
Appendices22
References24
1 Introduction (Denise)
1.1 Company Background
Founded in 1879, the mission of Eu Yan Sang (EYS) is ‘caring
for mankind’. The Traditional Chinese Medicine (TCM)
company believes in empowering individuals to live their best
quality of life through accessible healthcare.
3. EYS has been a household name for customers of across
generations for its high quality and standards. As Asia’s leading
TCM health and wellness company, their products combines the
art of TCM and the science of medicine. (Euyansang.com.sg,
2019)
1.2 Key Milestones
(Euyansang.com.sg, 2019)
The above figure depicts the key milestones of EYS since its
birth till present day operations.
1.3 Current Situation
Since October 2018, EYS has been distributing across 231 retail
outlets in China, Hong Kong, Macau, Malaysia, Singapore and
Australia. It also runs a chain of 33 TCM clinics in Singapore,
Malaysia, Hong Kong and China as well as three food and
beverage outlets in Malaysia.
Besides retail outlets and online stores, EYS has made their
products available worldwide at drugstores, pharmacies,
medical halls, supermarkets, convenience stores, hospitals,
health clubs, spas and major online marketplaces. Healthy Life
Group Pty Ltd is an associate company which operates in
Australia, over a chain of more than 40 Healthy Life stores and
a distribution business.
Today, the core strength of EYS lies within its brand name, its
product line as well as its diversified distribution network. On
top of advertising and promotion in print media, the company is
repackaging products and refurbishing older stores to broaden
the consumer base by appealing to a wider group of potential
customers.
4. 2 External Environment Analysis (Reina & Phyllis)
2.1 PESTLE Analysis - Reina
Political
Goods and Services Tax (GST)
GST is a tax imposed on domestic consumption and the current
GST rate is 7%. GST will be imposed on goods and services
supplied in Singapore, as well as imported goods.
Corporate Income Tax (CIT)
The corporate income tax rate is capped at 17%. The tax paid by
the company on its profits is not regarded to the shareholders,
which is referred to as the single-tier corporate income tax
system. Since 2018, the Singapore government decided to
enhance and extend CIT rebate at a rate of 20% of that tax
payable that is capped at $10,000.
Economic
Singapore’s economy has grown by 3.2% in 2018 and the GDP
is expected to continue growing to “slightly below the midpoint
of the forecast range” (Ministry of Trade and Industry 2019,
para. 1), specifically with business services growing by 2.8%
and other services such as education, health and social services
growing by 1.6%. On the other hand, as of 26 February 2019
(Appendix A), the Singapore Dollar (SGD) rate has decreased
from 1.3495 to 1.3481 despite the central bank’s effort to
strengthen the SGD. There is also a drop in Singapore’s annual
inflation rate from 0.5% in December 2018 to 0.4% in January
2019, mainly due to slowed prices for electricity and gas
(Trading Economics 2019), which does not affect the TCM
sector.
Despite the exchange rate fluctuation, the TCM industry has
been growing steadily so much so that the Ministry of Health
(MOH) has decided to ‘provide additional funding for TCM
research and to support skills development and capability
building for TCM professionals’ (Singapore Business Review
5. 2017, para. 1). With the increased funding of S$5 million TCM
Development Grant (TCMDG) and S$5 million TCM Research
Grant (TCMRG), TCM practitioners will be able to enhance
operational efficiency by adopting new IT solutions and R&D
activities. The applications for the grants have already been
opened since January 2018. The funding is set to contribute to
the growth of Singapore’s economy as it will be of expectancy
that the TCM sector is to perform better since January 2018.
Socio-Cultural
TCM practitioners mainly use herbal medicines and several
mind and body practices such as acupuncture, to either treat or
prevent health problems. TCM practitioners have always
believed that there must be a balance and harmony in the
physical, emotional and psychological wellbeing, which affect
the body’s internal balance. With the long history of treating
injuries, TCM practitioners managed to treat more sports-
related injuries as TCM has been growing steadily throughout
the years. And since TCM treats people of all ages regardless
you’re young, middle-aged or old, the TCM sector can tap into
the increased pool of consumers as the population of Singapore
has grown from 5,612,253 in the year 2017 to 5,638,676 in the
year 2018 (Singapore Department of Statistic 2018).
Since health is one of the most essential things in life, most
households have spent around 8-10% of their household budget
on medical services (ValueChampion, 2019). On top of that,
many people in Singapore suffer from neck and shoulder
problems as they have spent more than 8 hours a day in the
office working endlessly. These workplace injuries can worsen
if not treated properly and effectively. World Health
Organisation (WHO) has recognised acupuncture to be an
effective treatment for pain management and TCM accounts for
88% out of the 76% population in Singapore that used
complementary alternative medicine (AsiaOne n.d.).
Technology
Living in a digital age, consumers are becoming more
6. comfortable with purchasing items online. Statistics have shown
that the number of e-commerce users are steadily on the rise
(Statista, 2019). 16.67% of the e-commerce users are of age 25-
34, while shoppers from age 35-44 make up 28.14% and 45-54
years old has a percentage of 32.33%. This suggests that most
of the online shoppers are the people of Generation X. Online
shopping is an accessible option for the benefit of convenience,
especially for working adults who have a hectic schedule. E-
commerce platform may provide services such as live chat for
consumers who have queries on the product selection or the
shop’s opening hours and outlets. To add on, more and more
people possess at least 1 smartphone and this could act as an
opportunity for the TCM sector to tap into by creating apps to
enhance customer service experience. And to better the
relationship between companies and consumers, social media
platforms could be created to act as linkages for companies to
reach out and understand the consumers’ demands better.
Legal
Traditional Chinese Medicine Practitioners Act
According to the Singapore Statutes Online (SSO), all TCM
practitioners in Singapore have to abide by the Traditional
Chinese Medicine Practitioners Act under Chapter 333A. The
Traditional Chinese Medicine Practitioners Act talks about the
details of the registration process as TCM practitioners. Section
12(4) of Traditional Chinese Medicine Practitioners Act states
that anybody who fails to inform the Registrar in the change of
name, working address, residential address, or other personal
particulars within 28 days of the change will be charged a fine
of not over $1,000. And referring to Section 19(2), it states that
the Board may impose a penalty not exceeding $10,000 or
suspend the registration license for a period not exceeding 3
years if a person is liable of having his registration cancelled on
any grounds referred to in Subsection 1(e) to (k) of Section 19.
Traditional Chinese Medicine Practitioners (Registration of
Acupuncturists) Regulations
7. Specifically, according to SSO, the Traditional Chinese
Medicine Practitioners (Registration of Acupuncturists)
Regulations have to be abided by acupuncturists who wish to
practice in Singapore. There are 3 types of registration that one
could follow, namely: full registration, conditional registration
and provisional registration. Full registration is granted when
one has either an approved local qualification in TCM or
foreign qualification while having practical experience that is
acceptable to the Board. Second, conditional registration is
granted when (1) one shows he has the knowledge and skill
while having acquired the experience that is necessary as an
acupuncturist, or (2) he has been selected for employment in
Singapore as an acupuncturist in a TCM organization/institution
that is acceptable to the Board. Lastly, provisional registration
is granted when (1) one has practised in Singapore continuously
since and between 1st July 1985 and 2nd July 1990 while
holding a Category B local diploma, or (2) practised since
between 1st July 1990 and 2nd July 1995 while holding a
Category A local diploma. Provisional registration is only
granted for not more than 3 years.
Environmental
The use of animal products in TCM is not new information to
all, and this has been a major environmental issue for TCM in
the past 2000 years and counting. Asian cultures have long been
associating the different tiger parts as a cure for many ailments,
especially tiger bones. Bear gallbladder, rhino horn, antelope
horn, cattle and goats, are just some animal parts being used as
a part of medical treatment in TCM. Most of the animal hunting
and trading is illegal and many animals have been hunted and
killed to feed the needs of the fast-growing trade of TCM. Many
of the animal species used in TCM are listed by Convention on
International Trade in Endangered Species (CITES) of Wild
Animals and Plants, which makes it illegal for member
countries to trade these animals, and thankfully Singapore is
one of the member countries. However, it is saddening to learn
that several CITES members are still trading rhino products and
8. CITES has not taken any legal actions against them.
Overall, the external environment of TCM is relatively
opportunistic for EYS. Specifically, the technological
advancements which focus on the convenience and rise of e-
commerce, which are advantageous for EYS.
2.2 Porter’s 5 Forces Analysis - Reina & Phyllis
Competitive Forces
Competitive Pressures in the industry
Strength of Competitive Forces and Implications
Rivalry Among Competitors
Large number of existing competitors
Direct Competitors
(Traditional Chinese Medicine)
· Hockhua Tonic
· ZTP Ginseng Birdnest Pte Ltd
Indirect Competitors
(Traditional Chinese Medicine)
· Fook San Tong
· Sun Kee Ltd
· Kim Hing Food Industries
· Ma Guang
· Yan Chai Tong
· Tong Xin Tang
Low Switching cost
· A consumer is able to switch between different brands without
requiring a large investment
Products of Rival Sellers are not strongly Differentiated
· Products are similar and made with almost exactly the same
ingredients as such all products in the traditional chinese
medicine industry are not differentiated including the products
of Eu Yan Sang
9. Size of Companies
· Majority of the companies are large in scale and often
multinational
HIGH
· Many rivals currently exist in the market and many other
competitors appear from other markets due to them solving a the
same need.
· There is also a lack of differentiation between products as they
are all fundamentally made of the same ingredients.
· As such it boils down to marketing and quality of the product
in order to gain a competitive advantage in the industry.
Threat of New Entrants
Cost Advantages
· Existing companies have advantage in cost due to economies
of scale and relationships with existing suppliers
High Capital requirements
· Large amount of capital is required in order to establish a
global presence and to build branding, as well as set up the
supply chain routes to procure ingredients
Strict Regulations
· As these products are made for consumption they have to
uphold standards and regulations set by Singapore
Specialised knowledge
· Extensive knowledge is needed on traditional medicine in
order to produce the products in the industry
Brand Loyalty
· There is only a medium level of Brand loyalty, due to the ease
of switching and the similarity between the different products in
10. the industry there often isn’t much brand loyalty
LOW
· The cost required to enter the market and the large scale of
current competitors pose a threat to newer entrants as such it
highly unlikely that there will be newer entrants due to the
competitive disadvantage they will be at
Threat of Substitutes
Change in customer’s taste and perspective
· In current day and age and in the future, the newer generations
have different views on the effectiveness of Traditional Chinese
medicine, moreover, they prefer using Western Medicine
Newer products
· There are newer products created due to scientific and
technological developments, which can also be more effective.
HIGH
· There are many substitutes for the products in this industry
that are often easier to manufacture and are more effective,
things such as supplements pills, Western Medicine and Vitamin
Pills solve a similar need.
· As time goes by people start trusting and using things such as
supplements or modern medicine as such their taste change and
their perspective of the product in this industry change as such
they are less likely to go for traditional chinese medicine
Bargaining Power of Suppliers
High supply of TCM products in the market
· Hockhua Tonic
· Yan Chai Tong
· Ma Kuang
· Tong Xin Tang
11. · ZTP Ginseng
· Fook Sang Tong
LOW
· Many competitors in the same market claiming to provide high
quality products and to compete against prices
· Customers in Singapore are well-educated and since the cost
of switching is also low, then the suppliers will have a difficult
time to gain the bargaining power
Bargaining Power of Buyers
Extensive research before purchasing
· Due to the ease of accessibility and high exposure to
information online, and especially when it comes to purchasing
health products, customers will often do extensive research
before purchase then shortlist a few brands that meet their
buying criteria and evaluate before coming to a decision
Highly educated customers
· Singapore customers are generally well-educated so they will
be very well-informed about the quality, price and costs
HIGH
· Buyers tend to be very well-informed about the quality, prices
and costs with the research that they do before the purchase
· All TCM’s products are undifferentiated as they are all the
same
To conclude the analysis, the overall profitability will be low
due to the intensity of competition, high bargaining power of
buyers and high level of substitutes.
2.3 Industry Life Cycle - Phyllis
EYS is currently in the maturity stage of the industry life cycle
model as it has established a high level of equity and brand
12. awareness. EYS is currently growing at a slower growth rate
compared to when the industry was at its introduction stage 140
years ago. 2 years ago, EYS made its entry into the Australian
mainstream health, beauty and natural health products market.
Not only that, EYS entered into a joint venture with a mainland
Chinese firm to process and export herbs. One of EYS critical
success factor is to prioritize China because it is the biggest
market for TCM. It is also important for EYS to constantly
adapt to innovative marketing strategies such as strengthen its
online presences to ensure sustainable profitability.
3 Competitors Analysis (Denise)
Company
Eu Yan Sang
Hockhua Tonic
ZTP Ginseng Birdnest Pte Ltd
Kim Hing Food Industries
Sun Kee Ltd
Yan Chai Tong
Ma Kuang
Tong Xin Tang
Fook Sang Tong
Market
TCM
TCM
TCM
TCM
TCM
TCM
TCM
TCM
TCM
Types of Services
Clinic, Retail, Manufacturing
Retail, Manufacturing
13. Retail, Manufacturing
Manufacturing
Distribution
Clinic
Clinic
Clinic
Clinic
Distribution Channel
Multiple
Retail, Internet
Retail, Internet
Wholesale
Wholesale
Retail, Internet
Retail
Retail
NIL
Degree of Services Provided
Full
No frills
No frills
No frills
No frills
No frills
No frills
No frills
Limited
Geographic Location
International
Many SG locations
Many SG locations
Few SG locations
Few SG locations
Few SG locations
Many SG locations
Few SG locations
14. Few SG locations
Focal Products
Bottled birdnest, Lingzhi capsules, Chicken Essence
Bird's nest, Herbal products, Ginseng, Dried seafood
Bottled birdnest
Bottled birdnest and abalone
Canned seafood
Bak Foong pills, Mushroom powder
NIL
NIL
NIL
For the strategic group mapping, the variables are
diversification of target market (vertical axis) and distribution
channel (horizontal axis). In doing so, the distribution channels
in which the different generations of target market utilize can
be observed, allowing for the focal company, EYS to understand
which distribution channel is best to target customers of a
certain generation, in this case, the millennials to make repeat
purchases and in turn, boost sales for the company.
The direct competitors of EYS are Hockhua Tonic and ZTP
Ginseng Birdnest Ltd. Similar to EYS, both Hockhua Tonic and
ZTP Ginseng Birdnest focuses on selling TCM products, with
bottled birdnest being a common best-seller for both brands.
The indirect competitors of EYS are Fook San Tong, Sun Kee
Ltd and Kim Hing Food Industries and Ma Guang. These
companies are considered competitors due to the fact that they
all provide either goods or services in the TCM industry, yet are
not direct consumers because they do not offer the same
services that EYS provides. Yan Chai Tong, Tong Xin Tang and
Fook Sang Tong only provide clinical services where patients
are able to do consultation with a registered TCM physician. Ma
Kuang provide clinical services as well as “tuina” services,
where customers are able to receive treatment by “tuina”
15. therapist, a form of TCM practice which involves acupuncture,
moxibustion, fire cupping and Chinese herbalism. Sun Kee Ltd
does distribution of dried goods and TCM products, whereas
Kim Hing Food Industries manufactures TCM products,
involving packaging and bottling.
Therefore, EYS can gain a competitive edge against its
competitors by targeting marketing efforts towards the Gen-Y,
where most individuals have increasing purchase power as they
reached senior positions in their professional careers. In
addition to possessing the purchasing power to make high-
priced products such as TCM products, they are well-aware of
the benefits of Chinese herbs and their effects, having been
brought up by their parents of the Baby Boomers generation.
While the Baby Boomers are the ones that typically visits TCM
centres to purchase dried goods and herbal products, a large
majority of them have reached retirement and are becoming less
active in the workforce. These individuals, however, are empty-
nesters with children that are well-established in their careers
and are rely on them as a source of income. As such, these
empty-nesters will have the financial ability to purchase TCM
products for the physical well-being and enjoyment of
themselves, their children and grandchildren.
By focusing on Gen-Y as the target market, they could become
strong advocates of TCM as well, thus encouraging their Baby
Boomer parents to patronize TCM centres to make purchases in
bigger quantities or repeat purchases of TCM products that the
family has previously not been exposed to.
4 Customer Analysis (Kendra & Rachel)
4.1 Market Size
The TCM industry has seen major growth in recent years due to
16. an increasing demand for natural alternative medicines and
changes in people’s lifestyle. According to World Health
Organization (WHO), the size of the TCM global market is
estimated to reach at US$5 trillion by the year of 2050
(Asiabiotech n.d). In addition, the Asia-Pacific market is the
fastest growing region, with a compounded annual growth rate
of 10.5 percent through 2015 (EnterpriseSG, 2013). As a result,
EYS has the potential to continue maximising and strengthening
its position among their competitors.
4.2 Market Segmentation
Taking analysis from Appendix _, EYS market segments are
evaluated by age. They are segmented under:
· Generation Z (4 - 24 Years Old)
· Generation Y (25- 39 Years Old)
· Generation X (40 - 54 Years Old)
· Baby Boomers (55 - 75 Years Old)
Market Size and Segment Growth
According to Singstat, the segment sizes of Generation Z, Y, X
and Baby Boomers are 590, 875, 918 and 710 thousands
respectively in 2018. Among the total population of Singapore
residents, Chinese made up 74.3 percent, followed by Malays
and Indians at 13.4 percent and 9.0 percent respectively.
Market Segments Purchasing Power
Generation Z, mainly consists of students studying in tertiary
institutions and some of them having part-time jobs. Therefore,
they have low purchasing power. Generation Y, commonly
known as millennials includes working professionals with
middle income and moderate purchasing power. However, their
purchasing power are increasing. Generation X consists of
working professionals that are in senior positions with high
purchasing power. Baby boomers, though most of them are or
reaching retirement, have accumulated assets and retirement
savings, thus they wield moderate purchasing powers.
17. Market Segment Profit Potential
Generation Z have the lowest profit potential as they have low
purchasing power and a small market size. Millennials have
moderate profit potential due to their middle income and being
a tech-savvy generation in this digitalized world. Generation X
has the highest profit potential due to its large market size and
high purchasing power. According to their brand persona
(Appendix _), their psychographics and behavioural attributes
correlates to consuming TCM products and services. Due to
their aging lifestyle, Baby Boomers are the second highest
profit potential. Though they have moderate purchasing powers,
the benefits that they sought for are aligned with what TCM
provides.
4.3 Competitors
Hockhua Tonic and ZTP Ginseng Birdnest PTE LTD are the two
main key competitors as they provide similar service to the
consumers. However, the difference lies on how each
competitors further segment their TCM products based on
fulfilling each consumers’ psychology needs. EYS and their
competitors all fulfilled the safety needs of providing health
and wellness benefits in the ingredients of their TCM products.
All three organisations also fulfill the belongingness and love
needs when they offer their products as gift hampers for
consumers to give to their loved ones. What sets EYS apart
from their competitors is that EYS focuses on satisfying the
esteem needs as their TCM products and overall packaging
represents a sense of prestige and status due to them being a
highly recognizable brand in the TCM industry..
4.4 Underserved Segments
Millennials and Non-Chinese
· Unknowledgeable about TCM
· Inapplicable to their way of life
· Western medicine dominates (TCM is only an alternative)
· Preparation of TCM is inconvenient
18. The Millennials are an important segment for the TCM business
and educating them at a young age will allow EYS to grow with
them through various life stages. However, Millennials tend to
view EYS and TCM as being too traditional, tough to
understand and inapplicable to their way of life. It will take
time to reposition EYS but they will need a quick win to start
the engagement journey. Targeting the Millennials will benefit
EYS as their spending power are increasing. Soon, the
Millennials will overtake Generation X in terms of spending
power. On top of that, Millennials are tech-savvy. With
technology advancements, it is important to capture the
Millennials’ attention to ensure marketing and operational
efficiency in EYS.
EYS is making marketing efforts to target the Millennials now.
For example, EYS forged an unconventional collaboration with
an unexpected partner -- a popular speakeasy -- The Library, to
create a six-month herbmixology pop-up space campaign. It
combined the age-old tradition of TCM and the art of mixology
to provide a fresh experience for the millennials.
It is important to serve the Non-Chinese segment in Singapore
as maintaining racial cohesiveness and harmony go beyond
understanding the cultures and customs. It will go deeper and
stronger if one group shows compassion and provides
assistance. Introducing TCM to Non-Chinese is a great way of
encouraging this.
Despite being halal certified, EYS does not focus much on the
Non-Chinese segment; making them the underserved segment.
4.5 Factors Influencing Purchase Decisions
Internal factors
External factors
· Consumer’s purchasing power leads to different purchase
19. decisions.
· Consumer’s personal beliefs (eg. religion or family beliefs)
influences purchase decisions.
· Consumer has either a positive/negative perception of product.
· The way that the consumers want to be perceived (eg. relying
on TCM will mean that the consumer is traditional etc).
· Convenience (eg. consumers do not have the luxury of time)
· Accessibility (eg. less time on looking for TCM products)
4.6 Opportunities and Threats
Opportunities
Threats
· Convenience
· Accessibility
· Reliability
· Affordability
· Strong direct competitors with huge distribution channel
· Society influences (eg. TCM may be deemed as too traditional
)
· Similar target consumers from direct competitors
· Little product differentiation
5 Company Internal Analysis (Reina & Phyllis)
5.1 Porter’s Value Chain - Reina
5.1.1 Primary Activities and Costs
Supply Chain Management
- EYS has an associate company in Australia namely Healthy
Life Group Pte Ltd, which operates a chain of over 40 Healthy
Life stores
- Healthy Life Group (Australia) supplies over 3,500 products
to 600 independent retailers in the health food, pharmacy, and
grocery retail segments
20. - EYS has a chain of TCM centres, integrative medical centre,
general clinics, sessional clinics, and lifestyle clinics rounding
up to 33 TCM clinics in Singapore, Hong Kong, Shanghai and
Malaysia
Operations
- Product sourcing comes from suppliers with Good Agricultural
Practices (GAP) certification to ensure authenticity and quality
of raw herb
- Herbs will go through scientific tests before being processed
in EYS’ Good Manufacturing Practice (GMP) certified factories
in Hong Kong and Malaysia
- Manufacturing and packaging are done in Hong Kong and
Malaysia
Distribution
- EYS has an extensive distribution network encompassing 231
retail outlets in all 6 countries
- EYS products are also available worldwide at drugstores,
pharmacies, medical halls, supermarkets, convenience stores,
hospitals, health clubs, spas, and major online marketplaces
Sales and Marketing
- An online website that provides information on products,
FAQs, contact details
- Live chat on EYS official website to address any queries that
consumers have
- Online email subscription for updates
- Consumers are able to purchase EYS on the website and there
is free delivery for orders that are above $120
- Strong social media presence with frequent updates and
21. product bundles posted on Facebook and Instagram
- Strong PR through traditional media (e.g. newspaper,
magazine, interviews and articles)
Service
Delivery and Shipping
- Free delivery for orders over $120
- Local shipping fee: $13.00
- Able to collect the order on preferred collection date from any
desired EYS store
Return Policy (online purchase) & Exchanges
- May request through email to return any products within 7
business days after receiving the product at your delivery
address
- Only able to return/exchange when product delivered is not
what you ordered or product delivered is expired/damaged
- Only able to return products that are unconsumed, unused,
unworn, undamaged and unwashed
- Return in original packaging; unopened and unmarked, and not
broken into parts
- EYS will either replace the product with a new item, give a
full refund for the product, credit your account with the value of
the product
- Delivery and/or collection fee will still be incurred during the
process of returning/exchanging
Clinic Consultation Fees
- First consultation: $18 (physician), $22 (associate senior
physician), $28 (senior physician)
- Subsequent consultation: $14, $18, $22
- First consultation (long): $28, $34, $45
- Subsequent consultation (long): $22, $28, $36
- Dispensing fee: $6
Treatment Fees
22. - Acupuncture/Scraping: $30 - $80
- Tui Na: $40 - $130
- Cupping: $20 - $60
- Auriculotherapy (plaster): $12 - $24
- Heating lamp: $5
- Acupuncture stimulator: $5
Point of Care Test Fees
- Pregnancy screening test: $10
Herbal Medication Fees
- According to type and weight of prescription, generally from
$10 per day onwards
5.1.2 Support Activities and Costs
Product R&D, Technology and Systems Development
- Integrative Medicine (IM) centres are places where EYS
conduct their R&D to make sure products are acceptable to the
market
- EYSI Scientific Advisory Board (SAB) manages the matters of
science, medicine and emerging technologies for the growth of
EYS
- Members of SAB are active in research institutions,
universities, clinical practice and industry based on their
expertise in particular medical and scientific fields relevant to
EYS’ goals to develop scientific advancement of TCM
Human Resource Management
- All TCM practitioners and acupuncturists are licensed by the
local regulatory bodies to offer maximum benefits to EYS
customers
- All EYS physicians have undergone at least 1 year of
Residency Programme that includes mentoring by Senior
Physicians
23. - All EYS physicians have to go through regular reviews,
assessments and exit examination have to be qualified for
clinical practice in EYS clinics
- Associate physicians have at least 5 years of clinical
experience and/or promoted from Physician Grade after
assessment by the Internal Medical Board with an examination
- Senior Physicians have at least 10 years of clinical experience
and/or promoted from Associate Physician Grade after
assessment by the Internal Medical Board with examination and
thesis
General Administration
- Legal documentation takes place in the forms of receipts and
medical certifications
- Financial accounting is essential to keep track of the
company’s financial status
- Logistics department will manage all courier services and
other necessary logistics required for EYS
5.2 Collaborators - Phyllis
EYS has collaborations with many different reputable
institutions in order to advance the studies of traditional chinese
medicine, some examples are Nanyang Polytechnic, National
Cancer Centre and many more (Eu Yan Sang, n.d.) They have
also formed a partnership with chinese university - Shanghai
University of Traditional Chinese Medicine - to offer more
learning opportunities in traditional chinese medicine (Eu Yan
Sang, 2015). The Ginseng Board of Wisconsin, USA also
worked with Eu Yan Sang to distribute its ginseng in 2006.
They also Collaborated with Companies such as Nestle in order
to create newer products and merge the two different industry
24. together to come up with innovative products. But mainly it has
spent most of its collaborations with subsidiaries and arms or
firms in which they acquired through acquisition such as
Healthzone Ltd or Weng Li Sdn Bhd (Eu Yan Sang, n.d.).
5.3 VRIN Framework - Phyllis
Description of Resources and Capabilities
Test 1:
Valuable
Test 2:
Rare
Test 3:
Inimitable
Test 4:
Non-Substitutable
Brand Strength
✓
X
✓
X
Collaboration with Institutions
✓
✓
X
✓
Collaboration with other Companies such as nestle
✓
X
X
✓
Having multiple arms
✓
X
X
X
25. Physical resources: Factories
✓
X
X
✓
Multinational Presence
✓
✓
✓
X
Certifications
✓
✓
✓
X
As seen from the VRIN Framework, EYS has decent resources
and capabilities that are competitively superior, moreover, their
many certifications supports them and proves that they are of a
high standard and differentiates themselves from their
competitors which gives them a competitive advantage
6 SWOT / TOWS (Kendra & Rachel)
6.1 SWOT
Strength
Weakness
· Brand leader due to its strong brand equity
· Extensive distribution channel
· Strong brand loyalist
· Quality and safety of products are promised
· Positive response from expansion
· Strong Global Presence due to expansion into Malaysia,
Australia, China, Macau and Hong Kong market.
· Established positive relationships with reputable institutions
· Strong brand reputation
· Lack of differentiation compared to competitors as TCM
products are usually made out of similar ingredients.
26. · Low switching cost as competitors offer similar substitutes at
attractive prices.
· Difficulty in communicating and changing perception of
niche/underserved target market whom are not familiarised with
TCM.
· Absenteeism of cost leadership strategy in the organizational
strategies
Opportunities
Threats
· High brand recognition= able to target a wider reach
· Modernization of TCM as MOH is providing additional funds
· New innovation of TCM medicines through research and
development
· Diversification into the healthcare and wellness industry, not
just focusing on TCM products and services.
· Growing Market as TCM is having a growth in consumers
thus, gaining acceptance and recognition.
· Luxury of options with TCM products = high threat of
substitution
· Changes of customers’ preferences and tastes as western
medication is an alternative
· Threat of new entrants → TCM has been expected to boost
Singapore’s economy thus, having additional fundings from
MOH in the TCM industry will be attractive to potential new
entrants that are considering to enter the market.
· Difficulty in importing endangered species used in TCM.
6.2 TOWS
Strength
Weakness
Opportunities
EYS can capitalize on their marketing team to efficiently spread
brand awareness in the tech savvy Singapore’s market. They can
also seek to use their wide business networks to establish a
27. favourable position when collaborating with other businesses to
gain a competitive advantage.
One of the main concerns of EYS is the low switching cost
amongst customers as the industry lacks of differentiation.
Despite being the brand leader, ensuring that the rival
companies do not lure over loyal customers is important. Prices
are competitive in this industry thus, EYS has to implement
strategies to attract and retain these customers.
Threat
The industry is highly competitive with undifferentiated product
offerings thus, it is important for EYS to invest heavily on
research and development to seek new ways to improve their
products and services; gaining competitive advantage that their
rivals lack. This gives EYS the upper hand and reduces the
threat of falling behind. Another threat EYS faces is when
competitors enhance their operational efficiency. With MOH
providing additional funds, competitors can take advantage of
this situation to enhance their technologies to increase
efficiency.
EYS should adopt strategies to minimise their weakness to
avoid potential arising threats. This can include educating the
underserved segments on TCM and introduce EYS to them to
gain competitive advantage. This can include hosting roadshows
to offer the underserved segments a trial of TCM with EYS can
help to tackle this issue. Not only will this enhance the
interaction with the underserved segments, it will also reduce
the substitutability of EYS to prevent the threat of rivals of
having better service offerings.
7 Current Company Strategy (everyone)
7.1 Analysis of Corporate-Level Strategy
EYS’s corporate-level strategy involves many different
strategies such as a growth strategy through backward vertical
integration, where they started out by being a retailer of
Chinese Traditional Medicines and slowly started setting up and
acquiring business operations earlier on in the supply chain
28. such as Weng Li Sdn Bhd, a manufacturing arm of EYS (Eu Yan
Sang, n.d.). They also focus on new product development
through research in their current market seen in the “Launch of
new innovative product offering - American Ginseng Tea” (Eu
Yan Sang n.d.) as well as their efforts made by collaborating
with many different educational institutes for research and
development.
However, later on in the life of the company and in the previous
few years, they have applied a Global Strategy where they
diversified to other markets through market expansion seen in
the “Approval of our flagship products Bak Foong Pills
(women’s wellness product) and Bo Ying Compound (infants’
wellness product) for sale in China” (Eu Yan Sang n.d.). And
how “Eu Yan Sang enters Thailand in November through a
distribution partnership” (Eu Yan Sang n.d.) as well as how “Eu
Yan Sang entered the Australian market with integrative health
clinic services under the "YourHealth" brand of Integrative
Medicine Centres” (Eu Yan Sang n.d.).
EYS states that its mission is “Caring for Mankind” and
dedicates itself to it by offering quality healthcare and natural
products to its customers, we believe that its actions are aligned
with their mission as they can be seen focusing on development
of newer products and methods through research and
development done by collaborating with educational institutes
such as Nanyang Polytechnic.
7.2 Analysis of Business-Level Strategy
Presently, EYS’ business-level strategy is a prospector (Miles &
Snow 1978). With multiple distribution channels such as
clinics, retail and online stores, the company has a broad
product-market domain. In addition, EYS has focused marketing
efforts on targeting the Millennials through pop-up events
which in turn translates into new market opportunities for the
brand. Unlike competitors, EYS provides a full range of
29. services thus enhancing customers’ experience. On top of that,
EYS is constantly innovating new products to increase sales
(Tan, 2015).
Referring to the SWOT analysis, EYS lacks efficiency and has
high production costs. Since EYS has high volume of suppliers,
they will be able to achieve economies of scale with ease.
Therefore in the near future, EYS should adopt the low-cost
defender strategy where they focus on improving efficiency in
their business programs relative to resources used in
implementing them. Being mature on in the PLC, EYS has the
financial capabilities and resources to support the investment of
this hefty investment which can improve and enhance the
shopping experience, as well as allowing EYS to focus on
providing their products to consumers at a lower cost.
8. Recommendations & Implementation
Implementation 1: Frontal Attack
Situation Assessment
EYS is currently pricing their products at a market price to
compete with their competitors. Currently EYS’s target market
is Gen-X but they are looking to expand their market to Gen-Y
where they currently have little preference or loyalty to EYS.
Online and offline marketing efforts will be implemented to
attract new Gen-Y customers.
Target Market
We intend to focus on Millennials customers due to their
increasing purchasing power
Marketing Objectives
Aim to attract Millennials to be the new consumer segment of
TCM.
Targeting and Positioning Strategies
Have a strong online presence and engage with the Millennials
frequently through social media and events.
Incorporating Marketing Mix Components
Product
30. · Engage the Millennials by ensuring that the pictures uploaded
are aesthetically pleasing and host online events (e.g. giveaways
of EYS products)
· Host events and incorporate TCM products with novelty to
attract Millennials
Price
· Psychology pricing
Place
· Social media platforms must be updated frequently
· Roadshow events to interact with Millennials
Promotion
· Exclusive discounts on EYS products for consumers
participating the events
· Goodie bags to include small sizes of ready-to-consume TCM
products such as bird’s nest
· Aggressively advertise on social media to establish a
relationship with Millennial customers
· Engage in influencers marketing
Implementation 2: Leapfrog Strategy
Situation Assessment
Since EYS is in a mature stage in the PLC, they should put
emphasis on defending their position by increasing efficiency
based on their high capabilities in obtaining necessary
resources. Currently, EYS does not offer much technology-
advanced services or products. And since EYS has the necessary
marketing and production resources, they will be able to meet
the demand for a new generation of services and/or products.
Statistics have shown that Gen-Y is more tech-savvy as
compared to Baby Boomers, and since EYS target market is
Gen-Y, they can leverage on their tech-savvy quality to
innovate better services to increase efficiency, as well as
31. marketing campaigns to market new products.
We suggested self-checkout stations to be placed in-store,
where customers will checkout their own shopping baskets by
themselves rather than being reliant on the cashier staff. This
frees up the need for multiple personnels in-store that are solely
in-charge of cashiering duties.
Target Market
We plan to primarily target Gen-Y customers due to them being
more tech-savvy.
Marketing Objectives
Aim to win over customers with our extensive members perks
and attract new customers by offering new sign-up perks.
Targeting and Positioning Strategies
Top management should communicate EYS positioning to
increase customer satisfaction and provide better customer
service experience
Incorporating Marketing Mix Components
Product
· EYS to offer better and more convenient paying options at
self-checkout stations for customers as compared to competitors
(e.g. PayWave, GrabPay)
· Additional x1.5 points for members who use self-checkout
during off-peak periods
Price
· Price skimming → allow EYS to maximize profits at an early
stage before lowering the prices to attract new and price-
sensitive customers
Place
· Self-checkout stations to be placed In physical EYS outlets
· Pop-up events to increase customer spending during special
occasions such as Mother’s Day and Christmas
· Vending machines selling ready-to-consume products from
EYS (e.g. smaller bottle of bird’s nest so that it will be of a
32. cheaper price)
Promotion
· Have Flash Members Sales that give discounted membership-
only prices to different tiers of members (e.g. Bronze-Tier,
Silver-Tier, Gold-Tier) to boost customer loyalty and encourage
more sign-ups, which will also attract new customers
· Using mainly digital marketing and social media to reach out
to the younger customers
Appendices
Appendix A: USDSGD Price
Consumer Segments
Gen Z
Gen Y
(Millennials)
Gen X
Baby Boomers
Demographic
Age
4 - 24 years old
25 - 39 years old
40-54 years old
55-75 years old
Income and
Profession
Students: Low income
Part-timers:
33. Low income
Working professionals: middle income
Working Professionals/
New Mothers: High Income
Retired: Middle Income
Marital Status
- Single
- Newlyweds
- Single
- Newlyweds
- Married with young children
- Single
- Married with Children
-Single
-Married
Size of Market Segment (‘000)
(SingStat ,2018)
590
875
918
710
Psychographic
Personality Traits
- Active
- Creative
- Curious
- Enthusiastic
- Confused
- Unconforming
- Socially conscious
-Well-educated
-Tech Savvy
- Task-oriented
34. - Recognition
- Confident
- Individualistic
- Professional
- Time-oriented
- Structured
- Flexible
- Family-oriented
- Resourceful
- Self-assured
- Disciplined
- Relaxed
Motivations
- Self-discovery
- Self-discovery
- Social Status
- Achievements
- Family
- Social Status
- Achievements
- Family
- Family
- Unfulfilled wishes
Lifestyle
- Studying
- Socialising
- Working
- Working
- Socialising
- Family duties
- Working
- Family duties
- Working
35. - Relaxed life
VALS Framework
- Strivers:
- Experiencer:
- Thinkers:
- Believers:
Behavioural
Benefits Sought
-Energy boost
-Improving concentration
-Improving hormonal imbalance
-Stress Relief
-Energy boost
-Stress Relief
-Improving Immunity
-Healthy Nutrients for New mothers and infants
-Improving Immunity
-Combat pain
Purchasing power
Low
Medium
High
Medium
Brand Awareness
Low
36. Low
High
High
Brand Loyal
Low
Medium
High
High
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Budget WorksheetA
LINEPRE-PRODUCTION | LABORDAYSDAY
RATEOVERTIME
1.5x 2xTOTAL1Supervising Producer2Line
Producer3Director of Photography4Second Camera
Operator51st AC 62nd AC7Utility8Production
Manager9Production
Coordinator10Choreographer11Gaffer12Best Boy
Electric13Electric14Electric Driver15Swing16Key Grip17Best
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Man22Playback Operator23Teleprompter Op24Location
Scout25Storyboard Artist262728Make-up29Hair30Make-up
Assts.31Hair Assts.32Wardrobe33Ward.
Asst.34Chef35Assistant Chef3637Medic381st AD392nd
AD4041Craft Service42Firemen43Policemen44Welfare /
41. Teacher45Teamster / Drivers46Script Supervisor47Script
Assistant48Production Assistant - Office49Production Assistant
- Driver50Production Assistant - SetDays0SUB TOTALBID
TOTAL A
BACHELOR OF BUSINESS (MARKETING)
MKTG1275_1720 Strategic Marketing
Lecturer: Param Alahakone
NAME
STUDENT ID
May Thazin
S3565683
Htoo Htoo Aung
S3590990
Lo Yu Xuan
S3565661
Eugene Tan Jian Cai
S3504412
Contents
1.0 Introduction 1
1.1 Tiger Airways’ History. 1
2.0 External Environment Analysis 2
2.1 Context 2
2.1.1 PESTLE 2
2.1.2 Industry Life Cycle 3
2.1.3 Industry Driving Forces Analysis 3
2.1.4 Industry Key Success Factors Analysis 4
42. 2.1.5 Industry Outlook 4
2.2 Competitors 5
2.2.1 Porter’s Five Forces Model 5
2.2.2 Competitors Analysis 7
2.2.3 Positioning Map 8
2.3 Customer Analysis 8
2.3.1 Size of Market 8
2.3.2 Market Segments 9
2.3.3 Trend and profitability of Market 10
2.3.4 Influences of Buyer Behavior 10
2.4 Collaborator Analysis11
2.5 Company 12
2.5.1 Porter’s Value Chain 12
2.5.2 VRIN Framework 15
2.5.3 Product Life Cycle 16
3.0 SWOT Analysis 17
4.0 TOWS 18
5.0 Corporate Strategy 19
6.0 Current Business-Level Strategy 20
7.0 Recommended Business-Level Strategy (Analyzer) 21
8.0 Marketing Strategies 22
9.0 Implementation Plan 25
10.0 Conclusion 26
11.0 References 27
12.0 Appendices 34
MKTG1275 - Strategic Marketing
MKTG 1275 Strategic Marketing
1.0 Introduction
TigerAir was established in 2004 by Singapore Airlines (SIA) to
compete against Low-Cost-Carrier (LCC) competition that had
entered the region. It owned 5 sub-brands: TigerAir Singapore,
TigerAir Australia, TigerAir Mandala, TigerAir Philippines, and
TigerAir Taiwan. Some have ceased operations due to
43. continuous unfavorable financial results, while others are
performing barely.
TigerAir is enduring fluctuating financial results and is
struggling to stay relevant in the market.
1.1 Tiger Airways’ History.
Initially adopting an expansionist strategy, mass ordering of
airplanes and acquisition of multiple internationally based LCC-
airlines were untaken to accomplish its ambitious expansion of
overtaking SilkAir and SIA for short-haul routes.
In 2010, mass pilot resignation and technical faults caused
flight cancellations, affecting up to 2700 passengers. TigerAir
Australia was also grounded in 2011 due to safety violations.
Canceling flights to an earthquake stricken location further
aggravated already negative consumer impressions. In 2011,
total expenses rose by 22%, resulting in operating losses of
$83.4m for TigerAir Singapore, and $69 million for TigerAir
Australia in 2012. Furthermore, TigerAir Mandala ceased
operations due to low profit margins.
Overall, minimal profits and massive losses were registered
throughout 2008-2016 resulting in plummeting consumer
confidence.
2.0 External Environment Analysis 2.1 Context
2.1.1 PESTLE
Economic
· Forecasted growth in travel demand in emerging Asian
markets fueled by rising disposable incomes across the Asia
pacific region (Chan 2000; Ngoo, Tey & Tan 2015).
· Increase in travel between Asian countries due to heightened
44. economic development has increased demand for short-haul
flights (Goyal & Negi 2014; IATA 2013).
Social-Cultural
· Global population is set to increase from 7.3 billion to 8.5
billion in 2030 - Asia to contribute 500 million (United Nations
2017).
· Mass Globalisation has influenced more consumers from
emerging markets to travel out of their communities.
Technological
· As reported by TrendWatching (2017), consumer trend of
increasing desire for online connectivity has led to many
airlines establishing online communities to improve brand
image (Michael 2016).
· New aircraft technologies such as the Airbus A320neo reduce
fuel consumptions by 20%, which reduces cost (CNN 2016).
Legal
· Airlines must attain ICAO’s standard of air travel rules and
regulations before operating in participating nation’s airspace
(International Civil Aviation Organization 2017).
Implications
Overall, the external environment of low cost carriers is
opportunistic for TigerAir. Specifically, technological
advancements and the rising power of the Asia market are
advantageous for TigerAir.
2.1.2 Industry Life Cycle
As reported by Brons et. al (2002), due to increasing air travel
demand and consumer price sensitivity, the LCC industry was in
growth stage. However, the LCC industry is currently in its late
growth stage as competitors have become highly competitive
and product offerings are homogenous.
2.1.3 Industry Driving Forces Analysis
Based on the analysis done in Appendix 7, the key determinants
45. of the drivers of industry changes are:
· Accelerated Connectivity Growth – Future growth includes an
all-in-one mobile app tracking system in response to growing
consumers needs for connectivity (CNN 2016; NZ Herald 2016).
· Evolving technological landscape – As reported by CNN
(2016), 3D printing is growing in aviation manufacturing. Also,
airlines manufacturers are focusing their efforts into sustainable
aviation technology (Airbus 2017).
· The changing traveler– OAG (2016) reported that consumers
are increasingly keen to explore new destinations within Asia
pacific.
2.1.4 Industry Key Success Factors Analysis
Soomro et al. (2012) stated that consumers purchase low-cost
carrier offerings based on price, convenient access, and
branding. Thus, the industry key success factors are:
· Strong network of distributors - to get Tiger Air’s offerings
displayed
· Strong Branding - to induce travelers to buy Tiger Air’s
offerings
· Cost Advantageous – to cut costs such as full utilization of
aircraft capacity
Implications
The collective impact of driving forces heightens competition as
all industry members are able to tap into technology
advancements. Also, for TigerAir to be competitively
advantageous, they must strive to achieve the key success
factors.
2.1.5 Industry Outlook
The low-cost carrier airline industry is overall not an attractive
industry. The combined high power of suppliers, buyers, and
competitive rivalry lead to intense competition within the
46. industry, which outweighs the opportunities presented by
external factors and the driving forces.
2.2 Competitors
2.2.1 Porter’s Five Forces Model
Based on the analysis conducted in Appendix 5, below is a
summary of the five forces.
Power of Suppliers – High
· No readily available substitutes - Duopoly dominating large
commercial aircraft manufacturing market (Olienyk, J &
Carbaugh R 2011).
· High switching costs for highly specialized aircraft support,
equipment, components, and machineries
Competitive Rivalry – High
· High level of competition – 200+ LCC brands registered under
ICAO (International Civil Aviation Organization 2014)
· Similar products/services between LCC brands – minimal
difference by service levels
· High fixed cost due to the nature of industry assets –
Airplanes
Power of Buyers – High
· Knowledge through technology keeps buyers well-informed of
best choices – immunity to price fluctuations
· Low switching costs due to other brands offering similar
products/services
Threat of New Entrants – Low
· High capital costs of industry assets lead to incurring high exit
costs in event of market entry failure
· Knowledge and expertise not easily acquired due to the level
of industry sophistication – large economies of scale by existing
players
47. · High barriers to entry via governmental rules and regulations
(Civil Aviation Authority of Singapore 2014)
Threat of Substitutes – Low
· Air travel still essential as substitutes cannot perform better or
similarly due to inability to travel impassable terrain – e.g.
oceans.
Implications
Concluding, the overall industry profitability will be low due to
the intensity of competition and high power of suppliers and
buyers.
2.2.2 Competitors Analysis
Michael Porter’s competitive analysis model and competitive
strength assessment models were used to determine AirAsia and
LionAir’s likely strategic moves and analyze TigerAir’s
performance against them based on key attributes.
AirAsia
AirAsia will likely continue its low cost model through lean
48. distribution systems. As reported by AirAsia (2015), they plan
to expand their operations into leisure travel destinations.
LionAir
LionAir will likely continue its expansion strategy in its
domestic markets. Pressures from Indonesia’s civil aviation
authority could force them to focus on improving their safety
management.
Competitive Strength Assessment
Based on appendix 9, TigerAir is overall competitively weaker
against Airasia and Lion Air. TigerAir is vulnerable to price
cuts by AirAsia and Lion Air due to their weak cost position.
Implications for TigerAir
TigerAir should consider defensive moves to protect its current
market share while looking for opportunities to enhance its
value proposition as is does not have any distinctive advantage.
2.2.3 Positioning Map
TigerAir is positioned against AirAsia and Lion air along the
dimensions of safety perception and brand relationship with
consumers.
As identified in the perceptual map, TigerAir has significantly
less brand relationship as compared to its competitors. Thus,
TigerAir should seek ways to close this gap to remain
49. competitively advantageous.
2.3 Customer Analysis
2.3.1 Size of Market
International Air Transport Association forecasts that air-travel
will double over the next 20 years (IATA 2016).
Asia Pacific, where TigerAir’s operations are focused, holds the
highest of the global market, hinting that growth there will be
the highest (IATA 2016).
2.3.2 Market Segments
Deriving analysis from the segmentation table in appendix 6,
the market segments are evaluated.
Market is segmented by age:
Age 20-24, Generation Z
Age 25-39, Generation Y
Age 36-50, Generation X
Age 51-70, Baby Boomers
Market Size
The segment sizes of Generation Z, Y, X and baby boomers are
603 million, 1.66 billion, 1.44 billion and 616 million
respectively in 2015 (United Nations 2017).
Market Growth
Generation Z population will be declining while generation Y,
X and Baby boomers will be increasing in segment size of about
100 million each (United Nations 2017).
Market Segments Purchasing Power
Generation Z consists of students; thus, they have low
purchasing power.
Generation Y consists of middle-income professionals. They
hold moderate purchasing powers.
Generation X has high earning and company positions. They
wield high purchasing powers.
Baby boomers have middle income and are semi-retired.
However, they wield high purchasing powers.
50. Market Segment Profit Potential
Generation Z has low profit potential due to their declining
market size and low purchasing power.
Generation Y has the highest profit potential as they are the
largest segment. They have high purchasing power, and their
psychographics and behavior are correlated to air traveling.
Generation X’s profit potential is significantly below
Generation Y, due to their commitments to their social and
professional life, they lack time to travel.
Baby boomers have moderate profit potential due to their age
lifecycle. They are mainly semi-retired with low income, thus
preferring not to splurge unnecessarily.
2.3.3 Trend and profitability of Market
Consumers increasingly prefer Low-Cost-Carriers. This is an
indication of increased profitability in the budget air travel
segments.
2.3.4 Influences of Buyer Behavior
Internal Influences
External Influences
· Rising cost of living lead to preferring low-cost options
· Memory of past-purchases and social review/feedbacks
· Constant advertisements and use of opinion leaders to
advertise for Low-Cost-Carriers lead to acceptance reaction
· Word-of-mouth recommendations from friends
Implications
TigerAir should leverage onto the forecasted increase of global
air travel within the emerging markets. The segment to target
should be generation Y as they are the most profitable market
segment.
51. 2.4 Collaborator Analysis
Collaborators are known as external stakeholders who help and
work together with the firm in marketing the product to targeted
customers.
Airbus (Vertical)
Tigerair purchases its aircrafts from Airbus Commercial
Aircraft, which exports with strict policy compliance (Airbus
2017). This agreement and close relationship with Airbus
contributes to the competitive strength of Tiger Airways.
Lateral Relationships
TigerAir cooperates with Scoot in areas such as network
partnership, scheduling, sales and marketing. This helped
reduced TigerAir’s cost structure through cost sharing.
TigerAir can also leverage on the resources of its parent
company, SIA. Being included in the Krisflyer program entitles
customers to co-use flyer miles within partner airlines in
exchange for a variety of rewards (Tiger Airways 2017).
Distributors (Vertical)
TigerAir operates its own website, which acts a direct online
distribution channel to customers. TigerAir also collaborates
with selected online and offline travel agencies to access more
market segments.
Implications
52. Wide network capabilities with downstream and lateral
networks allow Tigerair to leverage on the competencies of its
networks members, which translates to an internal strength.
2.5 Company
Internal Environment Analysis
Company analysis is conducted to identify Tiger Airways’
internal strengths and weaknesses.
2.5.1 Porter’s Value Chain
Porter’s value chain analyzes business activities of an
organization to evaluate its competitive strengths (Recklies
2001).
Primary Activities
Supply Chain Management
TigerAir has 23 registered aircrafts with CAAS (Civil Aviation
Authority of Singapore 2017) and has no plans to buy more.
Operations
TigerAir conducts regular internal audits and crew refresher
courses and adheres to safety and security procedures (Tiger
Airways 2015). In-addition, a 10 years’ contract with Airbus
was entered in early 2016 for aircraft maintenance, spares
pooling, component repair and overhaul to maintain its capital
assets.
Human Resource Management
Cabin crew and staff with diverse ethnics are employed to serve
customers on an international level. Also, remuneration,
recognition, and rewards have also been constantly given out to
motivate staff’s performance.
Service
TigerAir has been infamous for its flight delays, cancellations
53. and poor customer service. With the proliferation of Internet
access in global economies, there has been increased negative
word of mouth circulating across multiple customer review
channels, resulting in poor corporate image. Furthermore,
TigerAir does not provide optional in-flight entertainments and
self-check in kiosks.
Secondary Activities
General Administration
Tiger Air’s organizational infrastructure is co-linked to SIA’s
management, which represents a source of internal strength.
However, the establishment of the executive and risk
management committee in response to the pressure for improved
corporate governance by the Civil Aviation Safety Authority
indicates that TigerAir has a internal weakness in its
management.
Marketing
TigerAir has utilized popular social media platforms such as
Facebook, Twitter, Instagram, and Weibo, as their main
marketing channels (Manjur 2015). Their official website also
regularly advertises and update promotions. However, TigerAir
does not conduct large-scale advertising and promotions,
leading to low brand awareness.
Distribution
Since its’ establishment, TigerAir has maintained its’ own
distribution channel – official website and industry clients.
TigerAir has extended its distribution channel to major online
flight/travel platforms such as SkyScanner, Expedia and Ctrip.
Implications
Overall, Tigerair has insufficient internal competencies for it to
use as a base for competitive advantage. Primarily, its
weaknesses lie in its management, marketing activities and poor
corporate image.
54. 2.5.2 VRIN Framework
Based on the internal company and collaborators analysis
conducted, VRIN analysis is performed to determine if a
resource can be a source of sustainable competitive advantage.
Description of Resource and Capability
Test 1:
Valuable
Test 2:
Rare
Test 3:
Inimitable
Test 4:
Non-substitutable
Alliances with lateral network partners
✓
✗
✓
✓
Alliances with distributors (downstream network)
55. ✓
✗
✗
✓
Physical resources: Airbus A319-100, A320-200, A320neo
✓
✗
✗
✗
Brand strength
✓
✗
✓
✗
Employee incentive system
✓
✗
✗
✗
Implications:
As identified in the VRIN framework, TigerAir does not have
resources and capabilities that are competitively superior.
However, their relationships with their lateral network partners
prove to be a potential source of sustainable competitive
advantage.
2.5.3 Product Life Cycle
TigerAir has been experiencing financial losses for 4
consecutive years. Coupled with decreasing passenger bookings,
and closure of TigerAir Mandala, TigerAir is currently in the
56. maturing stage of the product life cycle. Furthermore, being in
an oligopoly market structure, TigerAir faces fierce competition
from its’ competitors (Rubin & Joy 2005).
3.0 SWOT Analysis
Strengths
Weaknesses
· Network capabilities with downstream distributors
· Synergies, joint operations, and resources sharing between
lateral networks
· Small fleet size
· Poor customer satisfaction from minimal optional add-ons and
services
· Poor safety reputation
· Minimal brand interaction with consumers
Opportunities
Threats
· Shifting consumer preference to Low Cost Carriers
· Global GDP is forecasted to grow which is positively
correlated to air travel demand
· Growth of emerging markets
· Growing demand for short haul flights across Asia
· Decreased consumer confidence in airline industry due to
major aircraft accidents
· Intense competition among industry members
· Homogenous market with few product/service differentiation
· High supplier bargaining power
57. 4.0 TOWS
Strengths:
Weaknesses:
Opportunities:
1. Leverage downstream network capabilities to reach out to
emerging markets
2. Leverage lateral network competencies for resource sharing
to accommodate air travel demand
1. Procurement of additional plane to cater to increasing
demand
2. Increase marketing activities to establish brand presence and
interaction with emerging markets and price sensitive
consumers
3. Increase marketing activities to convince and re-affirm
brand’s commitment to customer’s satisfaction
4. Implement additional in-flight add-ons and services to
improve customer satisfaction
Threats:
1. Lateral networks provides positive reputational spillover and
added value
2. Sharing of resources with lateral networks to reduce
dependence on suppliers
58. 3. Network capabilities provide added benefit differentiation
1. Increase marketing activities to convince and re-affirm
brand’s commitment to customer’s satisfaction
2. Implement best practices for safety operations and
communicate safety value through marketing activities
3. Strive for long term supplier contracts to achieve quantity
discounts5.0 Corporate Strategy
TigerAir’s Mission and Goals
TigerAir's mission is to be the leading airline connecting people
in Asia Pacific through affordable fares. Its goal is to make
travel as stress free and easy as possible (TigerAir 2017).
The core strategy used is strategic lateral and vertical
integration. Laterally, TigerAir has partnerships in Value
Alliance and Krisflyer offering one-for-all benefits with other
airlines. Vertically, TigerAir has partnerships with hotels, car
rentals, and travel agencies.
Core values
Tiger Airways has three core values revolving around the core
strategy of improving customer satisfaction.
1. “We value our environment" relating to environmental
practices which TigerAir has implemented by utilization of
aircrafts with emission that meet international standards and the
use of best practices.
2."We value our community" expresses their community
commitment. Achieved by initiating activities that incorporate
and benefit the communities they operate in.
3."We value our people" demonstrates the trust on TigerAir
staffs. Placing trust in its employees, they are empowered and
effectively deliver quality services.
TigerAir has developed its core corporate strategy focused on
customers. Based on this strategy, TigerAir entices the market
by creating a wide dimension of benefits through horizontal and
vertical integration. In addition, the core values support the
strategy to achieve the intended objectives.
59. 6.0 Current Business-Level Strategy
TigerAir‘s current business-level strategy is a defender (Miles
and Snow). This is attributed to the lack of poor brand
interaction, perception and customer satisfaction. The inability
to achieve constant breakeven and profits has forced TigerAir to
cancel orders, lease out and retire some of their aircrafts.
Underperforming routes were also removed, suggesting weak
profits from the intense competition in the industry.
Furthermore, any sub-brands were sold off to reduce additional
losses. These evidences indicate that TigerAir is currently
trying to consolidate and prevent greater losses.
The defender strategy would not be advantageous in the long-
term. Due to external factors, TigerAir will eventually lose its
market share to competitors as they become stronger. As the
opportunities identified suggests, there is increased demand in
low-cost carriers and the growth of emerging markets and short-
haul flights across Asia proves lucrative. Thus, TigerAir should
not miss the opportunities and allow competitors to acquire this
growing market, causing them to be more difficult to compete
against in the future.
Concluding, TigerAir should adopt an analyzer strategy where
both defending and prospecting actions are conducted. This
allows TigerAir to reduce its current weaknesses and leverage
growth opportunities.
7.0 Recommended Business-Level Strategy (Analyzer)
It is recommended that TigerAir adopts an analyzer strategy -
whereby adaptable actions are made to maintain a stable line of
products and services while carefully following a selected set of
opportunistic new developments (Yusuf & Saffu 2009).
In this case, several environmental factors indicate a need for
TigerAir to adopt this strategy.
First, the LCC industry is in a late growth stage, thus TigerAir
should defend their current market share. Secondly, TigerAir
60. should defend its current market share because of the large
number of competitors to maintain its market relevance.
Furthermore, economies in Asia are emerging and TigerAir
should take advantage of opportunities in emerging markets.
Hence, TigerAir should adopt an analyzer strategy by defending
to stabilize its internal financial situation and also prospecting
to increase profitability to stay competitive.
TigerAir’s resources are able to support their analyzer strategy
as their strong inter-organizational relationships with
distributors can help them gain wide market access and a base
of customers to defend to maintain its market share (Barney &
Griffin 1992). However, as identified in the value chain
analysis, TigerAir has a weakness in its customer satisfaction,
corporate image and brand interaction. Thus, focuses should be
made across these three functions to achieve the strategy.
8.0 Marketing Strategies
The background analysis has outlined 2 business objectives that
could be chosen for TigerAir:
1. Rebrand corporate image to strengthen relationships with
current users to maintain market share and expand profit at the
same time.
61. 2. Rebuild brand awareness to increase customer satisfaction
and market presence to remind, reaffirm and be noticeable to
current and prospective users.
As the industry is in late growth, each objective utilizes either a
maintaining or extending volume growth strategy.
1. Rebrand Corporate Image
Strategy: Extended Use
Current Situation: Overall services are deemed below par in the
market, past-customers have spread negative word-of -mouth
regarding flight delays, cancellations, and poor customer
services.
Method: Increase frequency, encourage a wider variety of uses
for current customers, and improve customer service.
Tactics: As the basis of product/service offering is highly
undifferentiated, TigerAir should first close the gap of service
standards towards competitors. Two ways of doing this is by
offering what TigerAir’s competitors have been offering:
optional in-flight entertainment and self-check-in services.
Also, long-term customers or repeat purchasers should also be
taken care of by offering extra value through network
capabilities with hotels, car rental companies and travel
insurances. This promotes a wider dimension of benefit to
loyal/repeat customers. Further augmenting this, prospective
partnerships should be sourced - example, the renown “Star
Alliance” membership entails that partner airlines co-share
ticketing, airports, infrastructure, and communication initiatives
(Star Alliance 2017). This partnership model allows customers
to enjoy other airline’s promotions and service incentives.
Lastly, flight delays and cancellation should also be reduced to
highlight TigerAir’s renewed commitment to customer
satisfaction.
Rational:
Weak perception of brand
Individual air travel frequency rising
Advantages:
62. Deficiencies are reduced/eliminated
Extra value for customers through network capabilities
Eliminate past negative WOM and reputation
Resource sharing eliminates and reduces excess expenditure
Disadvantages:
Tactics reactive in nature, always behind competitors
Complicated network development and maintenance
Strategic Partnerships are not easily formed
2. Rebuild Brand Awareness
Strategy: Increase Penetration
Current Situation: Poor consumer brand perception and
awareness of TigerAir due to lack of interaction and
relationship building.
Method: Increase and utilize marketing activity to educate and
stress brand presence and value.
Tactics: Due to the lack of brand interaction, consumers in
current markets have developed a lack of satisfaction and
confidence leading to avoidance. Also, TigerAir has not
established brand interaction with consumers in emerging Asian
countries, losing out valuable opportunities. Thus, to acquire
larger market shares, marketing activities should be increased in
both current and emerging markets to convince and remind
consumers. With importance, marketing activities should
emphasize on the safety improvements that would be undertaken
in view of the decreased consumer confidence. For example,
advertisings would highlight the professionalism of every aspect
of operations and showcase the best practices adopted for safety
processes.
The magnitude of marketing activities should match up or be
more than competitors to display sincerity to consumers leading
to positive brand interaction, ensuring TigerAir to maintain and
acquire a larger market share.
Rational:
Lack brand relationship
Consumer shifting to LCC
63. Growth of emerging markets
Advantages:
Tap growing demand
Market presence established
Greater relationships with consumers
Brand Education
Disadvantages:
High marketing and promotional costs
Implications
Overall, Option 2 is better as it proposes to both strengthen
current customer bases and tap into new opportunities, leading
to a higher expansion of market share.
However, TigerAir’s has insufficient resources to support the
high costs of marketing activities needed, thus, option 1 is
chosen.
9.0 Implementation Plan
Objectives
To increase frequency of use of our current customers by 40%
by the end of the 2 years plan in Singapore.
Timing
The implementation plan is planned for June 2017 to June 2019.
Market Targets
Our plan will primarily target Gen Y customers due to their
purchasing power and frequency in traveling.
Positioning Strategies
Top management should communicate TigerAir’s positioning as
a brand that values its customers by continuously seeking value
added customer experiences.
Action programs
Customer relationship management should target all current
customer accounts, with the aim of achieving 85% awareness of
Tigerair rebranding through direct mail and SMS by the 2nd
month of the implementation plan.
64. Marketing should communicate promotions and events through
social media channels and achieve 30,000 ‘reposts’ by the first
year of the plan. Also, they should organize customer events
every 6 months.
Accounting should do a periodic audit every 6 months to ensure
financial objectives are met.
Procurement should seek to increase in-flight entertainment by
10% of what is currently offered through outsourcing by the 6th
month of the plan.
Operations should implement 5 self-service check-in kiosks in
Changi Airport terminal 2 by the 3rd month of the
implementation plan.
Human resource should implement internal marketing programs
for employee 2 weeks before the implementation of any service/
process changes.
10.0 Conclusion
In conclusion, due to external factors and TigerAir’s limited
resources, they will not be able to maintain their competitive
advantage using a defender strategy in the long run. Also, the
industry driving forces is shifting competition towards
TigerAir’s competitors’ favor.
Hence, TigerAir should conduct an analyzer strategy by
defending their current market base while looking out for new
opportunities. The two years implementation plan is aimed at
securing TigerAir’s foundation and accumulating resources to
venture into new developments once the right opportunities
appear.
Word Count: 3989
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73. 12.0 Appendices
Appendix 1: Tigerair Timeline Breakdown (1)
Appendix 2: TigerAir Timeline Breakdown (2)
Appendix 3: TigerAir Timeline
DATE
EVENT
Dec 2003
Tiger Airways incorporated
Jan 2004
Patrick Gan appointed as CEO who was previously from
pharmaceuticals industry
August 2004
Planned to launch its first flight in 2004
Began ticket sales
15 Sep 2004
Inaugural Singapore-Bangkok flight service
Jan 2005
Anthony Davis becomes CEO (was the founding managing
director of low-cost British carrier BMIbaby, 2002 - 2004)
Jan 2005
74. Informed by indonesian authorities that Tiger Airways would
not be able to land in major Indonesia cities
2006
Announcement of expansion plans (fleet size to 20 by 2010
from current of 12) in order to surpass the seat capacity of
SilkAir and SIA
2007
Tiger Aviation formed
2007
Appointment of new SG chairman, Daniel Ee
2007
Ordered 50 airbus 320 aircraft
March 2008
Profit of S$ 37.8 million was made by Tiger Airways Singapore
after 3 consecutive years of start-up losses
March 2009
Its profit dropped to S$12.2 million
22 Jan 2010
Tiger Airways listed on SGX (Initial Public Offering, IPO $1.50
per share) and company raised S$247.7 million.
2010
Releases first financial statement
Aug 2010
Approx. 30 pilots resign and a number of flights cancelled due
to remuneration issues
Aug 2010
It had 40 flights cancelled due to technical faults which leads
customers to ask about their preparedness in emergency
situation management.
June 2011
Davis (CEO) divests 1 Mil Tiger Airways shares at $1.42, 8
cents lower than IPO price.
2 July 2011
Australia's Civil Aviation Safety Authority (CASA) grounds all
Tiger Airways Australia Flights
75. Nov 2011
It raised S$158 mil through rights issue.
Total expenses had increased by 22% to S$701.6 million.
27 Jan 2012
Tiger Airways acquired 33% of PT Mandala Air
Mar 2012
Tiger AIrways increased acquisition of Mandala Air to 35.8%
Aug 2012
Tiger Airways acquire 40% of SeAir (renamed to TigerAir
Philippines) for US 2.5Mil
Oct 2012
All restrictions of Tiger Airways Australia lifted
April 2013
It raised S$297 mil through rights issue
July 2013
Virgin Air Australia acquires 60% of Tiger Airways Australia
for $35mil, renamed to TigerAir Australia
July 2013
Mandala Air changes name to TigerAir Mandala
Dec 2013
SIA announces 40% ownership of Tiger Airways after two
subsidiaries sold their shares to SIA
2014
Received “Top airline by absolute growth in passenger carriage
(Singapore) at the Changi Airline Awards 2014”
1 Mar 2014
Tiger Airways sold TigerAir Philippines to Cebu Pacific
(amounted to loss of $29 Mil)
1 Jul 2014
TigerAir Mandala ceased operations, filed for bankruptcy few
months later
January 2015
Tiger Airways raised S$227 million through investors
SIA became Tiger Airway’s largest shareholder with 55.8 %
76. stake
February 2015
Tiger Airways sold its 40% stake of Australian associate to
Virgin for A$1
June 2015
There is an improvement in financial year 2015/2016 regarding
about net loss, which decreased up to S$1.7 million compared to
previous year.
November 2015
SIA announced takeover bid for Tiger Airways
2016
Received “Best Low Cost Carrier at the AsiaOne People's
Choice Awards 2016”
February 2016
SIA owned more than 90% of Tiger’s Airways share
Appendix 4: PESTEL
AIRLINE INDUSTRY PESTEL ANALYSIS
1 - Low, 5 - High
1 - Low, 5 - High
(A) x (B)
Issue
Implication
Level of Risk (A)
Impact Level (B)
Total Score
Economic