Osim

In: Business and Management

Submitted By MUTHONI2
Words 2380
Pages 10
OSIM

Student

Instructor

Course

OSIM

Introduction

OSIM International is known as Asia’s number one brand in the provision of well-being and healthy products of a lifestyle. The company operates a wide variety of sales network with about 856 outlets in one hundred and eleven cities across thirty States in the Middle East, North America, Asia, the Middle East, Africa and Oceanic. The Company has undertaken an inventive approach towards branding, product development, and management (OSIM INTERNATIONAL LTD, 2010). OSIM will claim to continue creating higher consumer demand in the future with the launch of major products quarterly. The Company’s products include foot massagers, head massagers, massage chairs, fitness equipment, neck and shoulder massagers, vitamin and supplements, and diagnostic equipment.

Supplier Selection and Evaluation Strategy

OSIM choose its suppliers depending on a broad range of factors such as quality, value for money, reliability, and service, and does not consider the factor of price lists only. In supplier selection, Osim weighed up the importance of all these different factors based on their business priorities and strategies. A proper strategic approach to choosing suppliers will help to understand how your potential customers weigh up their purchasing decisions.

The following guide illustrates a step by step approach that Osim uses to make the right choices and decided what they need in a supplier, how to identify potential suppliers and finally chose them.

Think strategically when selecting a supplier.

In choosing the most efficient supplier, Osim has to get the suppliers who are willing to offer products or services that match or exceed the need of the business. They have to be sure of the business…...

Similar Documents

Osim Market Segmentation Analysis

...2.2 Osim Market Segmentation Market segmentation is the process of dividing a broad target market into subsets of consumers who have common needs so as to design and implement strategies to target their needs. The general target group for Osim is mid to high-end customers. This is so as they are less vulnerable to recessions and demands will become more resilient to cyclic demand patterns exhibited in typical consumer companies. This also allows them to actually charge a premium to consumers over their competitors’ products. However each of Osim products is actually created for a specific target market group in mind as they try and gradually increase their market share. These target markets are mainly sorted out through the use of age group, gender and income levels. Below shows an example of a product’s target market. Osim uPaPa Hug Age Group 25-35 & 50 years old onwards It focuses on providing a relaxing experience as well as a stress remover which young working adults are facing in the fast paced lifestyle. As the society advances, young adults are often suffering from muscle discomfort due to their work nature. In addition, OSIM UPAPA Hug was also advertised as a perfect present for the elders. Gender Male and Female As seen on their advertisements, a young lady with toned figure was portrayed. It displayed the ‘gentle’ side of the product, symbolising that it is suitable even for female usage. The male models playing the drums symbolised that the product......

Words: 1975 - Pages: 8

Marketing

...needs for health, hygiene, fitness and nutrition products. The targeted market is the whole population. Then, OSIM aims to develop innovative healthy lifestyle products for these needs and wants, and develop a strong and trusted brand in these areas. In building relationships with customers and providing them healthy lifestyle products, OSIM is also building a large network of outlets, advertising through newspapers, magazines, etc, as well as franchising to foreign countries. Finally, through the whole marketing process, OSIM has captured value from customers and created profits for themselves and customer quality. Question 1.2 The costs of marketing approach of an OSIM retail outlet include: 1. The cost of regular marketing research. OSIM conducts regular marketing research to understand the market and customers better. 2. The cost of setting marketing focus structure. After OSIM conducts market research, it will set a marketing focus structure, which also costs. 3. The cost of initial product development. This cost is used on the research and development of new products. 4. The cost of building excellent services. In order to provide excellent services, OSIM regularly trains its staff and renovate its outlets to build a good environment for customers. 5. The cost of attracting attentions of customers. To attract the attentions of customers, OSIM conducts roadshows, distribute flyers, and advertise on social media channels. 6. The cost of......

Words: 3733 - Pages: 15

Osim Marketing

...Building Value through through Values,Valor & Vision Valor & OSIM INTERNATIONAL LTD Annual Report 2012 Calligraphy: An art form that requires careful thought, strength, character, patience, philosophy and point of view. An apt representation of what drives OSIM forward. Sales $ +$48 million 602 Profit before tax $ +17% million 115 87 million EBITDA $ +13% 126 Profit after tax $ +26% million million For year ended 31 December Sales Profit EBITDA Before tax After tax Net cash flow from operating activities Per share (cents) Basic earnings Net assets value At year end Cash & cash equivalents and fixed income investments Shareholders funds Net cash and fixed income investments Returns on shareholders funds Profit before tax Profit after tax Shareholders value Dividend per share (cents) Special dividend per share (cents) 2012 $602m $126m $115m $87m $103m 12 26 $235m $196m $93m 59% 44% 4 2 2011 $554m $112m $98m $69m $99m 10 22 $205m $165m $71m 59% 42% 3 – Growth +$48m +13% +17% +26% +20% +18% +33% 03 FOUNDER, CHAIRMAN & CEO LETTER Creating successful strokes with vision “I am pleased to present a record set of results for the third consecutive year. Profit before tax is at a high of $115 million. I would like to thank my team for the wonderful achievement despite a tough economic environment. I expect that this growth will continue to be driven by market leadership, continuous innovation and productive......

Words: 56868 - Pages: 228

Osim

...Worksheet 1 Use this as a checklist in preparation to your marketing project. Company Vision * A vision statement is what the organization wants to become. Define the desired future state. Example: Microsoft: "Empower people through great software anytime, anyplace, and on any device." Company Mission * A mission statement concerns what an organization is all about. * Defines the present state or purpose of an organization; * Answers three questions about why an organization exists - * WHAT it does; * WHO it does it for; and * HOW it does what it does. * Is written succinctly in the form of a sentence or two, but for a shorter timeframe (one to three years) than a Vision statement; and, Example: Eaton Mission Statement We are committed to attracting, developing, and keeping a diverse work force that reflects the nature of our global business. Nissan: "Nissan provides unique and innovative automotive products and services that deliver superior, measurable values to all stakeholders in alliance with Renault." http://www.missionstatements.com/fortune_500_mission_statements.html Company Objective(s) In this step the firm’s mission and vision is converted into tangible actions (objectives) and later into results (goals) to be achieved. Objectives are broad categories. They are non-measurable, non-dated, continuous, and ongoing. With objectives the company moves from motive to action. Objectives are the......

Words: 567 - Pages: 3

Osim

...Analysis Page 5-6 4. Issue Analysis Page 7 5. Recommendations Page 7 6. Conclusions Page 7 7. Referencing Page 8 Introduction OSIM the well establish Asia healthy life style brand, originated from Singapore. OSIM was founded by Dr Ron Sim Chye Hock in November 1980. Initially derive from R Sim Trading which deal mainly with household appliance. Dr Ron Sim Chye Hock later founded OSIM and eventually changes his focus to creating healthy life style products since he felt a great market potential in home care products in Asia. Dr Ron Sim Chye Hock brought together different equipment manufacturers and introduces OSIM which then receives significant growth to the extent of establishing multiple outlets Asia (straitstime). Having the motto “Inspiring Life” OSIM company has a significant numbers of outlets all over the world (osim) Situational Analysis on Micro and Macro Factors In the IT and Health conscious era, companies are trying to find opportunities to stay ahead of other rival companies. Companies have to examine and evaluate their environmental forces and take necessary approaches in order to stay competitive. Micro Factors Microenvironments are factors closely related to company operations and directly impact the customer experience. OSIM has several factors that affect her greatly. A way to show case these factors are by Michael Porter Five Force Model which is: Competitor, Threat of New Entry, Supplier......

Words: 2069 - Pages: 9

Osim Stuf

...Brand erosion The OSIM brand is the success and key value driver in its business. OSIM will have to strengthen its branding to prevent any dilution and focus on strategic positioning of its core products. Management’s efforts to raise the OSIM brand profile, for instance, via sponsorship of high-profile corporate events and celebrity endorsements to raise awareness and brand presence have been successfully so far. The OSIM brand remains the key value driver of its business, and OSIM will have to carefully manage this to prevent any dilution. For now, OSIM has continued to focus on positioning its core products at the “luxury” end of its market segment, where the entry barriers are more stringent. Management has also continued to seek new channels to raise the OSIM brand profile, for instance, via sponsorship of high-profile corporate events, such as the OSIM International Triathlon since 2001, the OSIM Singapore Golf Masters (from 2005-08), and the BMF World Superseries (2011-13), which should help boost the brand’s presence globally. OSIM’s strategy is to participate in or sponsor high-profile corporate events such as triathlons, a multi-disciplinary sport that encourages stamina, endurance and strength, and promotes a healthy lifestyle, qualities that are strongly aligned with OSIM’s own corporate culture. A dedicated marketing budget (at about 6-7% of sales), coupled with celebrity endorsements and tie-ups for key product launches (e.g. Andy Lau, the Hong......

Words: 261 - Pages: 2

Porter's Theory of Osim

...Question 1 Nature of business-Healthy lifestyle product Product lines:- 1) OSIM provides consumers with a wide range of items consisting of eye, hand, foot, and body massagers in its Massage and Relax product line. * Healthy Lifestyle Products include massage chairs, massage mattresses, personal home saunas, slimming belts and fitness equipment, which cater to the needs of an increasingly affluent society to provide customers with relaxation techniques and luxurious comfort. * Health Care Foot reflexology rollers, pulse massagers, hand-held massagers, eye massagers, massaging hairbrushes, hot and cold gel packs, mechanical rotary toothbrushes and hearing aids fall under healthcare products. * Health Check The Group markets a range of diagnostic equipment like blood pressure monitors, pedometers, electronic weight and height measuring machines, digital thermometers and ear scan thermometers. OSIM also plans to market posters, literature, music compact discs and tapes on the theme of health and healthy living to provide a total health experience to customers. Question 2 Vission-The global leader in healthy lifestyle products. Mission-Bringing healthy lifestyle to you. Question 3 Question 4 Porter’s Theory | Factors elements that impact the company profit | Action could be take | Threat of new competition | 1) Natural barriers to entry in the global home health care industry include the need for capital investment, human resources, and technology...

Words: 272 - Pages: 2

Osim Group

...throw Mr. Dave Wright, the President of OSIM group, without making attempts to understand the causes for conflict and find the means to resolve the conflict, is unethical and immoral in my opinion. How can I presume my mentor who was willingly recommended me for executive management program, would become a hurdle to implement a change through strategic planning in this organization? But a change in management approach definitely encounters lot of resistance due to natural inertia of the people. To bring the desired change – a great degree of persuasion is required, certainly not elimination of experienced people. A conflict should be amicably resolved by the way of series of talks and serious attempts to convince the resistive forces agree to it. Here, Mr. Dave the President is said to be a major retarder, if not resister for a change. He has produced good results so far by way of decentralization which has given much freedom to the units to run autonomously and independently. More over, Mr. Dave has remained an inspirational for many. As the majority people in OSIM are willing to change their style and functioning, it’s not a Herculean task to convince few people like Mr. Dave. After a gap of one year, I don’t want to be swept away by the logic of Mr. Frank, the Marketing Director and his other members of conspiracy group and jump into conclusion. Though I agree with Mr. Frank regarding the short comings of management style in OSIM, I prefer attempt to resolve......

Words: 544 - Pages: 3

Integrated Marketing Communication for Osim

...Contents Page 1) Lit 1 2) Analysis Of 6 3) Analysis Of 7 3.1. P 7 3.2 Analysis 8 4) S 9 5) Conclusion 10 6) References 12 Introduction OSIM international limited is the global leader in branded healthy lifestyle product with 1,100 outlets across 360 cities. Listed in the Singapore stock exchange and originally founded by Ron Sim in 1980 in Singapore, it has over 30 years of experience and uncompromising dedication in developing innovative and reliable healthy lifestyle products (OSIM Ltd., 2010). The motto of OSIM which proudly rules the company has been “Inspiring Life”. For report purposes, OSIM’s will be researched and evaluated upon below. Persuasion In definition, persuasion from an organization is a conscious effort to influence by appealing to a consumers’ reason. At the base of marketing communications, persuasion serves to advise consumers on the benefits of a product and ultimately lead to acceptance of an attitude, belief or behaviour. A suitable approach in persuasion may be to adopt the consumer processing model (CPM) for appealing to intellectual consumers or the hedonic, experiential model (HEM) for those in pursuit of sensory stimulation or fantasies. Elaborating on the persuasion process, it comprises of four fundamental factors. Aspects of persuasion that are controlled by the marketer consist of peripheral cues and message arguments while characteristics of the person being persuaded are the receiver’s involvement and initial......

Words: 692 - Pages: 3

International Management

...in China has a high rating in pollution which is classified as "unliveable" (Reilly 2014). OSIM is identifying themselves as a global leader in changing and enhancing consumer lifestyles through the advancement in technology. By having a successful penetration into Beijing, their next focus leads to Beijing’s neighbour, Tianjin. With a population of 14 million and the pollution around the city areas, this act as the main target market segment for OSIM, and will result in the selection of anchor products in the purifying sectors. The chosen product line for OSIM includes purifying products like uVenus, an air purifier, and uPure, a water purifier, both equipment that helps to enhance the quality of air and water that the human body takes in. In this business plan for OSIM, the costing for the mode of entry into the sub-city will be developed through the strategy of market penetration. Analysis of the market through the Porter 5 Forces allows the understanding of what OSIM might face in Tianjin, factors such as competitors and substitute products. In addition, a PESTLE analysis was also done to allow OSIM to understand the differences of penetrating Beijing and Tianjin, in which feasible strategies would be identified. OSIM’s venture in Tianjin is a chance not to be missed, using the suggested implementation strategies, and at the same time providing appropriate control measurements. OSIM could take this opportunity to build up a strong foothold in the city achieving a......

Words: 12161 - Pages: 49

Almost There

...first tea outlet in Raffles Place's Republic Plaza. Within 6 years, TWG have a number of 44 salon, stretching across 15 countries. TWG has become The Wellbeing Group and was co-founded by Taha Bouqdib, Maranda Barnes and Rith Aum-Stievenard in 2008. The founder of TWG, Murjani had left TWG in 2012 to spend more time with his son who is studying in London. Taha Bouqdib has become the Sole Founder and President of TWG. TWG stores spread across 42 countries and it has 27 stores worldwide, with another 12 stores scheduled to open before the end of the 2013. Objective of Business (a) Economics: Profit Earning – TWG have their profit earning through their goods and services, also from shareholders too. One of the major shareholders was OSIM. Production of Goods - benefited TWG is because they provide a full service that is designed to fit your needs and also producing goods that have market demand. Stakeholders: Welfare of Employees: Taha Bouqdib has said that “It is necessary to recognise your staff’s achievements, what they have done and are doing to add to the success of the company, and to reward them so they are motivated to keep up the good work.” in an interview. So TWG rewards their employees for helping in increasing the profitability of the company and might reward them with bonuses, increase of allowance or maybe welfare benefits. Satisfaction of Consumers: More than average has good reviews of TWG for services and products. TWG succeeded......

Words: 3101 - Pages: 13

Ib Project

...model relies on local subsidiaries in each country to administer business as instructed by headquarters. The subsidiaries would have freedom to adapt products to local conditions as well as to set up some light assembly operations or promotion programs. Overall, ultimate control resides with managers at the headquarters as they best know the basis and potential of the company’s core competencies. We choose international strategy as this strategy has low cost and risk as money would not be needed to be spent on researching and developing new products to customize to local needs. Furthermore, Osim already has a strong brand identity and a strong reputation so it would be recognised as good in the eyes of the population in Vietnam and people would expect the same level of quality of the brand Osim in Vietnam as compared to other countries. With a good reputation, it would be easier to market Osim products in Vietnam. Pressure for local responsiveness is also low as consumer tastes and preferences for massages chairs are roughly the same worldwide. Massage chairs do not need to be differentiated as ultimately massage chairs are used to serve the same purposes which are to relieve stress and tension of the user. Furthermore, the Vietnam government is taking efforts to make it easier for foreign investors to invest in Vietnam by relaxing the requirements and regulations needed to enter Vietnam. By doing this, there would be lesser trade barriers to enter Vietnam and this further......

Words: 605 - Pages: 3

Econ

...Introduction With more than 800 outlets across 100 countries, OSIM International Limited is one of the Asia’s branded healthy lifestyle products companies founded by Dr Ron Sim. Originated from Singapore, Dr Sim identified the huge potential in Asia’s homecare products market and he successfully transform a local household appliances trading business known as R Sim Trading to a listed company with a revenue of $600 million today (OSIM Ltd, 2015). Brand OSIM is about living an inspiring life and experience the overall well-being to match with their slogan ‘Inspiring well-being’. With more than 30 years of experience pioneering in healthy lifestyle products, they aim to provide in-depth knowledge of holistic health through their products. The major competitors are OTO and Ogawa as they provide comparable products and serve the same group of consumers while at the same time, they market their products at a lower price. Competitors also introduce different products to attract broader group of consumers. For instance, OTO diversified their products by offering fitness purpose machine such as OTO Track Blazer, a home use treadmill to access new group of consumers (OTO wellness Pte Ltd, 2015). SWOT Analysis By applying SWOT analysis model, we can study OSIM external issues such as potential opportunities and threats and analyse internal issues by identifying its strengths and weaknesses. Besides, it assists firm to achieve its desired results. (Feist, Heely, Lu, &......

Words: 1272 - Pages: 6

Marketing Assignment on Osim

...Question 1 What is the meaning of the brand identity of OSIM? Brand identity emanates from the organisation, and is how it wants its products to be viewed by its stakeholders. ‘Brand identity’ is not defined in Marketing in Asia, but Aaker defines it as “what the organisation wants the brand to stand for in the customer’s mind” or “how strategists want the brand to be perceived”. In more recent literature, Kotler and Keller define it as “the way a company aims to identify or position… its product”. Applied here, the question is therefore how OSIM aspires for their brand to be perceived by both their internal and external customers. Here, OSIM wishes for their brand to be “synonymous with healthy lifestyle”, “[i]nspiring [w]ell-[b]eing” through having a positive mindset and healthy living. What are the different aspects of this identity? For ease of reference, for this part, I have decided to adopt Aaker’s Brand Identity Planning Model (see Figure 1 below): Figure 1: Brand Identity Planning Model Brand as a Product OSIM’s brand promises “product innovation, design and quality, performance, and safety standards”. Further, OSIM intends for its products to be perceived as something which is value-for-money. Here, the focus is more on the intangible benefits, in particular the impact of having a healthier lifestyle. According to Aaker, under this category, it is important for customers to recall a brand when they have a need in that particular product class. Having......

Words: 2620 - Pages: 11

Telezoo

...Model poslovanja je povezivanje prodavaca i kupaca kompleksne telekomunikacijske opreme, usluga i rješenja širom svijeta. Telezoo.com je jedina stranica koja omogućuje nabavku telekomunikacijske opreme na jednostavan i standardiziran način. Kroz ogromnu bazu podataka o raspoloživoj opremi i prodavcima Telzoo omogućava kupcima da donesu pravilnu odluku o kupovini. Nudeći kupcima usporedbu (side by side) karakteristike mogućih alternativa omogućava im bolji izbor te osigurava da sam telezoo potencijalni kupci doživljavaju nepristrasnim, što je ključno u poslovima posredovanja kojima se telezoo bavi. Telezoo ne treba shvatati kao posredničku kompaniju nego kao tržište telekomunikacijske opreme koje nudi više nego klasična tržišta. Dakle osim povezivanja ponude i tražnje, olakšavanja procesa kupovine, telezoo nudi i detaljne nepristrasne informacije o opremi koja se na tržištu nudi. Telezoo olakšava proces kupovine i prodaje standardizacijom i automatizacijom zahtjeva za ponude i zahtjeva za cjene čineći ovaj proces neuporedivo kraćim. Pravo tržište za Telezoo bi moglo biti poslovni kupci koji traže kompleksnije i skuplje telekomunikacijske proizvode i rješenja. Iako su kupoprodaje jednostavnijih rješenja jednostavnije i češće, prihod ostvaren od ovakvih prodaja je mnogo manji. Orjentisanje na posredovanje u kupopradaji skupljih rješenja donijet će veće prihode po transakciji. Na ovaj način ograničeni resursi kojima Telezoo raspolaže usmjerit će se na kupce koji......

Words: 1247 - Pages: 5