Singapore is an island state which is one of the four Asiatic tiger states. Singapore is regarded as one of the universe ‘s most comfortable states with strong international trading links and its per capita GDP is equal to taking states of Europe. ( https: //www.cia.gov/library/publications/the-world-factbook/geos/sn.html ) . Harmonizing to the singstat.gov.sg, Singapore had the population of 4,987,600 people in 2009 and 3,200,700 were Singapore citizen. The remainder 2 million were other nationalities. These nationalities are Chinese, Indonesians, Indians, Malays, Vietnamese, Myanmar, Laos, Cambodians and so forth. These nationalities settle in Singapore for assorted intents. Therefore, Singapore is regarded as the multicultural state.
1.2 Socio-Cultural Analysis of Singapore
Harmonizing to Geert Hofstede ‘s five cultural dimensions, following cultural dimension indexes are indentified.
Power distance index
Uncertainty turning away index
Long-run orientation index
Table1. Five cultural dimensions of Singapore
Therefore, Singapore is collectivism state due to the individuality index of 20. As it is a high Bolshevism society, less powerful figure of people accepts the unequal power distribution among the household or organisation which is common in high Bolshevism society. Masculinity index of 48 proves both female and males in Singapore have equal chance for their lives. The most interesting index is uncertainness turning away index which is 8. Therefore, Singaporeans are regarded as hazard takers who prefer alterations and challenges. As for the long term orientation index, Singapore has the index of 48 which is normal, neither long-run nor short-run oriented.
In order to associate, Geert Hofstede five cultural dimension indexes and the impact on selling, following facts are indentified. First, as power distance index of Singapore is 74 which is high, hence, selling luxury points, planetary trade names, high quality and advanced merchandises works in Singapore as in high power distance civilization, one societal position must be clear to be respected by others. Selling merchandises in Singapore should concentrate on demands of a society, household and group instead than single due to the individuality index of 20. Furthermore, merchandises in Singapore should be continuously advanced, value added and characteristics are to be improved as the uncertainness turning away is really low, 8. As Singapore is normal in long/short term orientation index, merchandises can be either long term or short term intents. Similarly, maleness index of Singapore is 48 that average balance in values of both maleness and muliebrity. From the selling position, merchandises that are marketed to masculine civilization should be position merchandises as maleness refers to achievement, success and acknowledgment.
1.3 Economic Analysis
Economy of Singapore depends to a great extent on exports, which are consumer electronics and information engineering merchandises. Singapore practised successful free market economic system with corruptness free environment. Per-capita GDP of Singapore is tantamount to that of four largest West-European states ( www.nationmaster.com ) . GDP per capita of Singapore in 2009 was about 50,300 USD. In 2008 and 2007, it was 52,200 USD and 52,300 USD severally harmonizing to CIA universe facts book. Based on the World Bank ‘s making concern 2010 and 2009 study, Singapore is ranked # 1 in easiness of making concern. Furthermore, Singapore is besides graded # 1 in using workers and trading across boundary lines. As for the shutting concern Singapore is ranked # 2. As for the low corruptness rate, Singapore is ranked # 1 in Asia and # 4 in the universe.
In order to increase the growing of Singapore ‘s economic system, authorities decided to make the two incorporate resorts with casino licences. Marina Bay Sands was awarded the first licence which is a more concern focused incorporate resort. Second licence was awarded to Fall back universe at Sentosa, a household oriented incorporate resort. These integrated resorts are expected to bring forth 35,000 occupations. The Singapore authorities attracts big graduated table of foreign investing by implementing two policies which are pro-foreign investing and export-oriented. Harmonizing to economywatch.com, United States is the taking investor in Singapore. There are a figure of factors influences the economic development of Singapore. The chief ground is due to the increasing demand of electronic merchandises around the universe which benefits the Singapore as it is the major manufacturer of electronic goods. Other industries contributed in economic growing of Singapore are pharmaceuticals, fiscal services and manufacturing.The
Harmonizing to socio-cultural analysis utilizing by Geert Hofstede five cultural dimension theoretical account, furniture merchandises made of teak are decided to market Singapore. These merchandises are manufactured by Myanmar Teak Company limited is utilizing cherished teaks from Myanmar. Most of the furniture in Singapore is made of leathers, fiber, Fe, plastics, recycled forests and so away. Although there is some furniture made from wood, it is really hard to happen furniture made of teak.
2.1 Relative Advantage
Furniture made from teak is normally expensive and regarded as luxury furniture because teaks are expensive as it takes decennaries to acquire teak trees and its advantages. Furniture made from teak is lasting, strong, and resistant to moisture, fire, acid and base. Furthermore, it is extremely immune from decomposing, Sun, rain, hoar or snow. Once it is bought, it can be used for many decennaries.
Furniture made of teak is easy to clean from spilled drinks and nutrient while others are difficult to take the discolorations. Although the natural coloring material of the teak is aureate brown, it can be changed to reddish brown or dark brown. Therefore, the coloring material of the teak is easy to change and color will prolong for a long clip. Another advantage of teak is bring forthing natural oils that prevent white ants and wood damaging insects. This natural oil maintains the solid state of the wood, life span and strength which hence unneeded for the user to use chemicals. Immune to conditionss, decomposing and wood damaging insects make teak furniture to be aeonian. Teak is easy to determine and craft.
Teak furniture is compatible for Singapore, harmonizing to high power distance index ( 74 ) of Hofstede. Having teak furniture show the high position and wealth of that individual comparing to other furniture made of fiber, plastic, and recycled forests. In Singapore, adorning place with humanistic disciplines, sculptures, furniture, illuming and latest electronic merchandises are found in house of affluent people. Teak furniture is chiefly used in International hotels, high-class eating houses, and furniture of international companies particularly for run intoing tabular arraies. International hotels and high-class eating houses have furniture made of teak because westerners and Europeans value teak furniture and handcraft merchandises.
Furniture salesrooms in Singapore allow clients to seek before purchase. For illustration, client can sit on the sofa or couch to prove the comfort of the merchandises. In Singapore, furniture salesrooms are decorated with its merchandise. Decorating furniture show suites with its merchandises enable clients to prove the merchandise, understand the convenience of the merchandise, and acquire the thought how merchandises can be designed in peculiar location. For illustration, in IKEA all furniture is shown to seek and prove before the purchase. Customers are allowed to utilize the tabular arraies, sit on chairs and couch and prevarication on bed.
3. The Market
3.1 Geographic Region
Singapore is located at the South East Asia which is surrounded by Malaysia and Indonesia. Singapore is besides known as an island State which is 3.5 times size of the Washington DC harmonizing to nationmaster.com. It has entire country of 692.7 kilometer that had a population of 4,987,600 people in 2009. Singapore has smaller islands which are Jurong, Pulau Tekong, Pulau Ubin, and Sentosa. Among them, Sentosa is the largest 1. Highest point of Singapore is Bukit Timah which is 166m above sea degree whereas the lowest point is Singapore Strait 0m which is a major transporting path of South East Asia. In Singapore, clime is hot, tropical, humid and showery. There are two distinguishable monsoon seasons which are North-eastern monsoon get downing from December to March and South-western monsoon takes June to September.
3.2 Transportation system
Public transit is the major beginning of transit to a great extent used by people for day-to-day intents. Public transit includes MRT, LRT, and Buses. SMRT Corporation Ltd ( SMRT ) is Singapore ‘s multi-modal conveyance service supplier offering integrated island-wide conveyance services including trains, coachs, and taxis. SBS theodolite started its operation in 2003 which is North East Line, a extremely advanced to the full automated new belowground heavy rail system. This NEL had a day-to-day user of 325,433 in 2009 which is 20 kilometres long and include 16 Stationss from punggol to Harborfront.
Harmonizing to informations of Civil Aviation Authority of Singapore and Changi Airport Group Pte Ltd, figure of aircraft reachings and goings were 120,184 and 120176 severally for both riders and parcel/mail. Aircraft is major transit for geting and going Singapore, harmonizing to informations of rider arrival/departure by utilizing aircraft. In twelvemonth 2009, passenger informations of reaching and going was recorded as 18,026,000 riders ‘ reaching and 18,063,000 goings. As for the parcel/mail entrance and outgoing by aircraft in 2009 were 12113 and 14945 metric tons.
By looking at the Data of Maritime and Port Authority of Singapore, ships are the major beginning of transporting lading and containers. Harmonizing to informations, in 2009, 130575 vass arrived in Singapore by transporting 1784669 ( 000 ) giga metric ton. Air ladings were chiefly used by North East Asiatic States due to dismissed metric tons of 377,184 in twelvemonth 2009. These North East Asiatic Countries include China, Hong Kong, Republic of Korea and Taiwan. Total air lading discharged metric tons by assorted states and parts in 2009 were 846,671.
Table1. Describes the figure of population utilizing vehicles in 2007-2009
Table.1 the figure population used of vehicles in twelvemonth 2007, 2008 and 2009 were as follows
Motor Cycles & A ; Scooter
Goods & A ; Other Vehicles
Adopted from Land conveyance Authority
There were 1.857 million fixed telephone users in 2008 whereas 6.375 million users were nomadic cellular users. Soon, there are three communicating service suppliers that are SingTel, Star hub and M1. 3G wireless service was launched in February 2005. As for the cyberspace service, most of the people use wide set cyberspace service provided by three cyberspace service suppliers. Harmonizing to informations of Infocomm Development Authority of Singapore, Media Development Authority and Singapore Post which were collected at April 2010, there were 2046.7 ( ‘000 ) of broadband cyberspace users including xDSL, overseas telegram modems, leased line cyberspace and other broadband cyberspace entree methods. Dial-up cyberspace users were merely 75.1 ( ‘000 ) users. As for the nomadic phone users for both 3G and 2G, there were 6920.2 ( ‘000 ) users while the fixed nomadic users were unknown. There is Singing station postal service which delivers mails and packages to most of the states around the universe.
4. Consumer Buying Habits
4.1 Product usage form
In Singapore, furniture is one of the indispensable merchandises for edifices. Peoples use furniture for day-to-day intents. Furniture is basically so merchandises in Singapore due to the increasing figure of occupants, international pupils, employees from around the universe, Singapore requires more lodgings, schools and universities, hotels and eating houses. Therefore, furniture is required for those lodgings, universities, schools, hotels and eating houses. In Singapore, 76.8 % are Chinese harmonizing to nationmaster.com. Chinese normally value humanistic disciplines and handcraft. Furthermore, Chinese buy new furniture for their houses after Chinese new-year because Chinese belief that if they can purchase new merchandises in this New Year and they believe that they will enable to purchase in following New Year.
4.2 Product penchant
In general, Singapore prefers light, little and inexpensive furniture because most of the Singaporean lives in condominium and flats. As for the eating houses and international hotels, teak furniture is preferred most, in order to demo their position and place. Tastes and penchants can change among clients.
4.3 Shopping Habits
Harmonizing to the survey of ( Neilson, 2009 ) Singapore had changed shopping wonts due to current fiscal crisis. This survey shows that 70 per centum of the consumer spent merely on indispensable merchandises. However, latest Nielsen Global consumer index shows that Global consumer index of Singapore in 2nd one-fourth of 2010 increased to index of 112 that is about every bit 114 in third-quarter of 2007. Therefore, per centum of consumers who believed that Singapore was in recession had declined from 28 per centum to 17 per centum in Q2 2010. Harmonizing to the study conducted in 2006 to 22,000 cyberspace users in 42 markets, it was revealed that 74 % of consumers admitted that shopping as signifier of amusement. Similarly, in Singapore shopping was considered as a signifier of amusement due to nine out of 10 respondents ‘ answers. 7 % of Singaporean went shopping twice a hebdomad or more frequently although others went shopping with lesser extent. 22 % of Singaporeans did it weekly while 32 per centum shopped one time a month. 29 % shopped more than one time a month and 10 per centum ne’er shopped.
Furthermore, Singapore was the lone Asian state which made it through to the planetary top 10 which agreed with the curative consequence of apparels shopping. Harmonizing to the informations, following pie chart is identified.
Beginning: adopted signifier www.acnielsen.com.sg/news/20060719.shtml
5. Distribution of the merchandise
In Singapore, furniture can be bought from either from retail merchants or makers. Some Furniture makers topographic point merchandises both on retail store while others sell by ain salesrooms. Furthermore, there are countless of little furniture stores and salesrooms in Singapore. The largest furniture retail shop in Singapore is IKEA which is followed by Courts.
6. Ad and publicity
As for the advertisement, if it is to make international hotels and eating houses, directing merchandise catalog is the best manner to acquire attending. Ad on telecasting by aiming on eating houses and international hotel is besides considered effectual manner of advertisement. In advertisement on telecasting by demoing elegant and modernised teak furniture can pull the attending of high-toned client.
Similarly, as for the advertisement high category society, same media can be used to pull clients. Direct selling can be besides used to for both high-toned society and hotels and eating houses. Furthermore, take parting in furniture shows held by Singapore Furniture Industry Council will besides pull the attending of several client. Harmonizing to ( Russell, 2006 ) Singapore market drew 17,838 visitants from 112 states which was the largest of all time.
Additionally, harmonizing to the imperativeness release of international furniture carnival Singapore, the just held in March 2010 attracted the 17,277 visitants from 112 states. This carnival was held for 4days from 9 to 12 March 2010.
In Singapore, furniture is discounted by per centum in some seasons. Gross saless price reduction depends on furniture. Some furniture may be discounted 20 % while others are discounted 10 % merely.
7. Compare and contrast with rival ‘s merchandises
7.1 rival ‘s merchandises
Mozaic is a Singapore trade name that is integrated by successful Singapore furniture companies which satisfy the demands and wants of clients by supplying specially crafted merchandises. Combination of West and East concern patterns, designs, handiness of resources, Singapore Mozaic fulfils the satisfaction of client around the universe.
Sweeping Teak Company manufactures furniture with highest quality. Sweeping teak company furniture includes teak furniture, resort furniture and antique furniture of Chinese, Tibetan, Mongolian, authoritative Gallic, authoritative English, Italy couch and Italy furniture. Sweeping Teak Company have achieved the undermentioned reputes, the best whole sale teak furniture, antique furniture, authoritative furniture, Italy couch and Italy furniture specializer.
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