Mydin Study Case

March 24, 2018 | Author: Sandro McTavish | Category: Corporate Social Responsibility, Retail, Strategic Management, Business, Marketing


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MOHD ZAHRIL BIN MANSOR G1226641HANI RADIAH BINTI HASSAN SHAARI G1228618 CASE REVIEW: MYDIN Question 1 Marketing Strategy Among the strategies that the company is currently using: - Business activity is retailing and wholesaling a broad range of goods (eg: food line , households, soft & hard line items) at affordable price (low pricing strategies) Target market is from the diverse economic backgrounds, upbringing and educational level. Aggressive & Strategic placement for a newly development/ expansion of outlet. Internal and External Environment Analysis Internal Environment • • • • • • • STRENGTH Customer Loyalty - A Loyalty Card which collecting accumulated points for the customers to redeem with other goods, which attracts every customer. Cost Advantages – Lower cost can undercut rivals on price Pricing Power – Customers typically rebel against price increases by switching to competing products, but if a company has pricing power, customers will continue using Mydin’s products and services. The Power of Brand – Reputation and strong name that holds ‘MYDIN’ itself holds thousands of confident among different types of customers. OPPORTUNITIES Global Expansion – Mydin only owns 55 outlet nationwide. A strategic plan can be drafted, so that Mydin’s reputation can be promoted worldwide. New Market – With a strong brand’s name, Mydin could expand to other sector aside wholesaling, such as hotels or agriculture. Online Shopping – To compete with current need of shopping trends. • • • • WEAKNESS IT infrastructure DRC – They seems to have bottleneck of networking problem whenever several outlets wanting to access the same database at a time. Customer Service – hurts Mydin the most, and this may cause most customers to flee to and look for other alternative shopping spot. Mart Layout & Spacious issue – Lots of customer means they need a bigger space because the existing Mart (especially at Masjid India branch) seems are no longer can occupy thousands of attendance especially during festive season.. Customer no longer enjoying their time shopping in Mydin THREAT Competition From Another Foreign Wholesaling Players (in term of adding new outlet) eg Giant ,Tesco, Carrefour to name a few. Arrival of new technologies to support Mydin’s dynamic operation. Mass Marketing aims to provide products and services that will appeal to the whole market. Deal with big number & bigger community Use expensive form of media to reach out to people. 3. KR1M. Emergence of substitutes products Question 2 Mass Market or Niche’ Market? From our analysis. So. including the non-Muslim community. in basically. 2. • • • • WEAKNESS Level of confident from non-Muslims to spend their money at Muslim’s store. Subsidiaries from the government and price-hike on daily goods. 4. Sell ordinary product to very large number of people at quite-cheap price.External Environment • • • • • STRENGTH Good relationship & special collaboration with governing bodies and policies Eg: involving in campaign such as Price Cut Campaign. accept KadS1M at all MYDIN branches and etc CSR-helps small holders. local businesses through its pricing program and partnership. Advertising in radio and TV Market Segmentation for Mydin 1. Buy Malaysian Products. these strategies also indirectly attract the higher –basis income to shop for daily uses goods. maintaining low goals target always prints the better end-result. Mydin operates in a mass market because: 1. . Mydin is currently operated in a mass market. Expand the business/open branches in the rural area to create more employment opportunities and improve people standard of living. THREAT Uncontrolled Policies from Government on bringing in new International label to introduce/market their newly-product. OPPORTUNITIES Increasing target market by breaking the 60% Muslim barrier to a higher percentage or marketable target. The market coverage is focusing on high sales and low prices. Target – Mydin is targeting lower and middle-income’s earners in a community. Focusing on Halal Concept – ‘Ïf is not haram. Mydin’s emporiums cater for almost any need that fall into the categories of worship. travel. by taking advantage of Mydin’s wholesale prices. Less money spending at their emporium could translated into other beneficial need. children and even exercise equipment. offices & school and other shopping community. wholesaling strategy with low cost embedded gives so many choices for retailers. small biz. Purchasing stocks and bulk-prices will generates higher margin profit in the end. Their target market is as halal-wide as their range of products. fittings and furnishings. One thing that proven successfully in the Mydin Marketing statistic. household goods. we will sell it”. especially those looking for economic purchases. People who own a small stationary shop will always choose Mydin rather than other hypermarket for their stocks. accessories. apparel. electronics. digital technology. In accordance to Islam. With approximately 60% of Malaysians being followers of the Islamic faith. Why people should spend more on goods that may have same view or taste at a very high prices. this goes down well with Muslims. Variety of Choices – Different group of people will shop different variety of goods. . such as educational for children and personal saving for future plans. The halal market spectrum is widened even still. Mydin always believe the concept of ‘balanced way of life’. Mydin is embracing the concept of halal (permissible) products. Mydin also caters for wholesalers and retailers in addition to household consumers. nothing is haram (forbidden) unless it clearly declared as forbidden (by the Qur’an or Sunnah).2. food. 3. cars. In which area that this technology suits with Mydin’s existing infrastructure? Alternatively. a portal for targeting and converting a large customer youth segment as well as a platform for announcing events and activities such as new stores. point of purchase. What about people in rural area? The company should also target the community which is without having internet access. But. contents and layout of their website is slightly fine. tenant management. Cloud Computing should be introduced as another perspective. Mydin need to reposition itself as a major player in the business to attain larger customer segment particularly the youth. IT strategy. customer service. By improving this strategy. The best way to spread the information for this target area is by creating pamphlet & distribute from home-to-home should add more advantages in promoting Mydin’s product.Continuing their commitment by business to behave ethically and contribute to economic development and at the same time improving the quality of life of the workforce and their families as well as of the local community and society at large. This includes providing good coverage and act for employees’ welfare as well as maintaining good relationship among staffs. But.aggressively promoting their store itself as compared to the competitor . For example.Giant and Carrefour did as for their weekly promotional advert in the local newspaper. that will only works on certain amount of people who have access to internet usage. launches and promotions. Improving CSR (Corporate Social Responsibility) activities . warehousing.everything under the sun. if virtualizations are no longer able to cater millions of database. Mydin’s existing IT infra should have defined the strength of the organization in processing thousands of database of stocks and customer in general. So what should Mydin do is to be able to ‘talk with the same lingo’ throughout the global world. it will create a better understanding and perception among staff and other entities that related to their management. Cloud Computing is somewhat popular nowadays. With plans to open more outlets in the next few years. strengthen up or compete? – One way or another. Mydin should plan a specific strategy to compete with the current globalisation changes. systems and information technology. .As for the Mydin’s current official website to give information throughout the community. The nearest example is what Tesco . since the technology keeps changing periodically or steered dynamically. Mydin required a new centric website to be online gateway for marketing and communication activities. marketing and promotions. In order to achieve this. Improving Marketing Plan . Always try to learn as much as possible about development in retail industry and to improve in terms of merchandising. It is important to know what you are doing and do the things that you know.Question 3 Mydin retail strategies & formats for 10 years from now and strategies for further growth that meet the challenges of global positioning. ATTACHMENT MALAYSIA HYPERMARKET WAR .
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