Mistine: Direct Selling in the Thai Cosmetics Market
Question 1: What are the major SWOT considerations in Mistine’s attempt to continue its growth and dominance in the Thai Market?
Strengths | Weakness | Opportunity | Threat | Being leader in the Thai market | High turnover rate among salespeople | Growth of direct selling market | Many powerful competitors | Wide product range | Female-oriented brand image | Good relationship with neighbors | Political situations in the countries where the company does business | Customer satisfaction | Thinks as lower-income product | | Length of the selling period | Product testing |
In terms of strengths, the company has the advantage of being the market leader, although
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Question 2: How can Better Way stay on the top in Thailand while it looks to expand internationally? This is a big deal actually, going internationally and being the market leader in the home country at the same time. They have adopted a great strategy and supported it with advertisements. For Asian market focusing on Asian women, their skin and face characteristics and also they have analyzed the climate carefully and designed products accordingly so that they won’t go down early. Also keeping low prices for Asian market can be important, due to economic conditions and customer preferences, since they are price sensitive. So, keeping those in mind the company can adopt a localization strategy in international markets; in every market that they have entered they may produce products just like they did to Asian people. Furthermore, lower prices can show products less qualified in international markets, especially in Europe and America, for those markets the company can came up with an alternative product line that is more niche.
Question 3: What specific market initiatives would you recommend over the next five years? Just like it is told in the case, word of mouth is the most classical marketing tool for direct selling. But the company took a risk and get in the TV advertising business, which had great conclusions for them. So I believe that they should definitely keep going with TV ads since the
Company strength for the company is that they are online, and since many people are connected to the internet they can reach many more consumers. Outside of the shopping the company has available on the website its Annual Report, Quarterly Reports, and Currents reports. The website gives information for the investors, merchandisers, etc. Cost Plus World Market offers different coupons for sales and percent off on the internet as well. Since they shop the other competition retailers to make sure they have a competitive price you can feel comfortable that you will get the best price out there for unique items.
The best strength factor for this corporation is the low cost strategy and the great relations between employees and low attrition rates. In addition to that, they have a strong CSR Program
Strengths include highly innovative product (main competitive advantages over debeaking arriving into savings from reduced cannibalization, trauma elimination, better feed
A company’s strengths are found within their own company and members. Depending on how well and to what extent a company uses its resources determines just what its strengths are. These strengths may be what they do better than other companies, what they do different from other
Another strong point is their management and corporate governance. On top of everything we find Elon Musk who is renewed around the world for its genius and entrepreneurship. Musk leads a team of the best minds in the field. Employees believe in the company and higher management personnel gets stocks.
"The biggest strength is that they have a blockbuster-to-be product already on the market, and with good IP, and there are not that many blockbuster drugs. Having one already on the market and continuing to
| Opportunities:- The ability to respond quickly to changing consumer trends will provide a stronger competitive advantage.- Brand recognition is a key success factor for competitiveness, and a strong brand will stimulate demand.
Further Penetrate the Japanese Market: Currently, Japan remains SK-II¡¦s most attractive and proven market for this product-line. Having already established brand recognition, high awareness (+70%), and a loyal and growing customer-base (spending $1,000/year+), P&G should focus on further penetrating this market. Japanese women are among the world¡¦s most sophisticated users of beauty products, and per capita they remain the world¡¦s leading consumer of the prestige and multi-step offerings ³ SK-II¡¦s Japanese target market is well-defined and very loyal once acquired. Furthermore, having succeeded in Japan before with its ¡§Lipfinity¡¨ launch, P&G has existing distributor relationships and has viable access to these customers. Rather than investing heavily to enter new markets such as China or Europe, P&G can more effectively direct these resources to expand/extend the product-line and develop newer, profitable Japanese segments. P&G can also rely on its existing sales model and target the sophisticated and informed Japanese consumer by offering technologically enhanced products and systems such as: 1)
They also have years of international experience and low cost experience the culture. These two combined they offer a strong market knowledge and the necessary skills.
their abilities to adding value to the business and also making an IPO to most of its
The Company has certain competitive advantages such as concentrated mass production, modern technology, gigantic distribution system, and a well known brand name.
In order to have a good international business, you need some basic strategies. One of them is to “Build a broader customer base” ("International Business Strategies"). If you accomplish this, then you will have more people paying for your product. That’s a higher demand for whatever you are selling, which causes you to have more profits and the ability to expand your business. If you expand, you will need to hire more workers and that helps out the entire economy. Another strategy is “Lower production costs by using lower priced labor abroad” (“International Business Strategies”). This helps lower your overall costs and helps you lower the market price for your item so more people can buy it. That would increase demand and profits, having the same effect as the previous strategy. If you don’t want to lower the market price, it’s simply a bigger profit for you for every item you sell. If you were to lower the prices, it would give you an edge against the other international businesses in the particular field.
The most important strength is their strong market position in the database domain. They have a strong research and development department capable of developing world class software. The acquisition of various companies in the areas of database, middleware and application helped them to have the best of the breed software product suite. Their management team is very effective and strong. Their products are well accepted by the market due to their robustness and quality. They have the best enterprise database software in the market with a strong market share. This helped them to be a monopolist in the enterprise database market. They have strong pricing power for initial license and maintenance tasks. They invest heavily for innovation and working hard to improve their cloud presence. Their worldwide presence and their geographical diversification offers them competitive advantage by covering international market. Oracle technology is used by large enterprise firms to small firms as system integrators, which makes Oracle software a critical component for enterprise deployments. Their balance sheet is strong and acquired companies as part of expansion strategy. Their software product line support horizontal and vertical scaling requirements. Their comprehensive software solutions portfolio makes them a good supplier of software programs for major firms. They have strong services group. (Wikinvest.com, 2015)
Today, globalization seems to be an expected trend in long-term development of every company in the world, especially in Vietnam. Globalization is a process of interaction and integration among people, companies and governments of different cultures in order to do business with
However, in 1971, the business incorporated under name of Esprit De Corp. and had seven product lines when they met Michael Ying. Nowadays, it appears in more than 50 countries and has 12 production lines, included for men, women and kids to increase sales and maintain its sustainable development. Esprit has been become one of the most strong and successful brand not only in Asian fashion industry but also in other areas. Actually, it has more than 640 freestanding stores and over 12,000 wholesale customers which increase year by year.