Market Analysis: My Umbrella Sdn Bhd

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Market Analysis Market Segmentation Market Segmentation is a process of dividing consumers into sub-group which related to their common needs and characteristics. Our Company has analyzed the age and income level of the consumers in our country under demographic segmentation. Based on the results, we decided to offer our products into two main categories of consumers which are students and working adults, and old folks. By the way, we set our products price at between RM25 to RM30, which is affordable and reasonable price to middle income consumers. Under behavioral segmentation, we have done the research on the spending pattern, usage rate and desired benefits of the target consumers. Since Malaysia is a tropical rainforest…show more content…
This company has been establish for more than 20 years and is considered as a primary manufacturer in Malaysia. Furthermore, they are also having export trading of quality products to China. Since our company is newly established, thus our business trading area and consumer awareness are slightly less attractive compare with the competitor. Moreover, we discovered that their company provides various designs of umbrella such as parasol printing, pyramid canopy and canvas umbrella. Thus, they provide a lot choices and selections to the consumers. However, they are also having weaknesses which we realized that their company does not pay much attentions on the details functions and usefulness of the umbrellas, although they able to products various designs. Therefore, we can compete with their weak point as our products are created with more innovated functions. Nevertheless, our each umbrella can provide multifunction which is much more convenient and high technology compare with the competitor which only provides each product with less multifunction. In conclusion, although our production is not as good as the competitor, still our usefulness of products are much more innovated and we are the first company which provide such innovated umbrella in the…show more content…
Since social media has become part of daily life, thus we plan to advertise our products via some popular social media website such as Facebook, Google, Youtube and Twitter. Nowadays people used to obtain the news and information via internet as technology has been cover up throughout the world. Thus we will open a business webpage on the internet websites and do online selling as this method is very convenient and low cost for us to advertise and promote our products to the public efficiently and effectively. Our business webpage includes our company profile such as name, background, location, contact number, details of products function and the promotion offered. Thus the internet users are able to view our company and get to know our new products have been introduced to the market. We will always update our promotions to the webpage as our promotions will change constantly due to different seasons. Moreover, we are offering free delivery to every purchasing of our product via online and for the customers who purchase three umbrellas and above will get a free raincoat. Purpose of doing such promotion is to encourage our customers to buy more our products. This method is also convenient to the consumers and also effective to our business. However, on Facebook or Google website we can also receive customers’ feedbacks and responses so that we can understand

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