Consumer Behaviour for OSIM Company’s product

Running Head: Consumer Behaviour for OSIM Company’s product
0
OSIM
Consumer Behavior
Student name
[Pick the date]

Study of Targeted Market for giving Marketing Strategy
1
Executive Summary:
The purpose of this study is to find out the behaviour of consumer towards OSIM
Company’s product OSIM uMagic in the country of Singapore. It is very much important for
business, as because of this, it can easily survive in the marketplace. Therefore, companies
also make marketing strategy to serve this purpose.
Consumer Behaviour is the study of how a consumer comes to a decision for buying a
product by satisfying their needs and wants effectively. OSIM Company provides healthy
lifestyle products; product range is uInfinity Luxe, uInfinity, and uMagic and its product are
now at the maturity stage of the lifecycle. It has majorly two competitors in the market place
that is OGAWA and OTO Company.
PESTEL and SWOT Analysis is done to know about the market of Singapore. It is
important to select the target market for the product selected by the company to make correct
segmentation based on the similar characteristics of the population selected for this purpose.
In this, the target decision-making process is explained to show how consumer goes through
the decision of purchasing a product. Factors influencing consumer behaviour are such as
psychological, social, cultural, personal and economic. In the end, the recommendation is
given for adopting the marketing strategy to make more successful the company in the market
as compared to its competitors.

Study of Targeted Market for giving Marketing Strategy
2
Contents
Executive Summary:..................................................................................................................1
Introduction:...............................................................................................................................3
Situational Analysis:..................................................................................................................3
Influences of Targeted Consumers:...........................................................................................6
Target Market Decision Making Process:..................................................................................8
Recommendations for Marketing Strategy:...............................................................................9
Conclusion:..............................................................................................................................11

Study of Targeted Market for giving Marketing Strategy
3
Introduction:
OSIM Company name is derived from its founder’s name Mr Ron Sin. It offers
consumer products in the market. It tends to focus on the well-being of the customers, by
helping them to feel and to look good. It is a well-established brand launched in the year
1980. Firstly, it is known for providing electric and household items like a knife, mobile rods
for drying the clothes. It was set up with having the vision to give an amazing and healthy
lifestyle to consumers and its mission is to become a global leader in the industry (BRAND
OSIM, 2018). It is Asia’s number one company.
It takes care of advice, service, warranty, maintenance, and trade-in for the customers.
It markets distributes and sells its product successfully in North Asia, South Asia as well as
also at international level (Osim International facts, 2019). It makes products such as massage
chairs, neck & shoulder massagers, foot rollers and fitness equipment. It is involved in
wholesaler, retailer and distribution businesses. It also does manufacturing and selling of
luxury tea in the market. It gets the title of International Safety Standards because of health
and safety conditions maintained properly in the company. Its products are made from good
quality as it meets the quality standards benchmark (Inspiring Life, 2018).
Its brand is created by name” OSIM” in which “O” letter means the global and
remaining word is derived from the founder’s name. Its marketing strategy is linked with
creating a point-of-sales network and has geographical coverage in the market. Its outlets run
by the company and its subsidiaries mainly located in the countries Singapore, Hong Kong,
Malaysia, and Taiwan and also open various franchises in the market. It came into limelight
because of its massage chairs becoming famous in South-East Asia and China particularly. Its
product sold at more than 500 stores. Its founder becomes the 19th richest person in Singapore
when he becomes the CEO of the company. Here, the discussion is on consumer behaviour
and market analysis of the OSIM Company (Company Overview of Osim International Ltd.,
2019).
Situational Analysis:
SWOT Analysis: -