Essay: Market Place) - A Poor Analysis

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¶ … Market Place)

- A POOR analysis of the product. POOR ANALYSIS includes; PROBLEMS, OPPORTUNITIES, OBJECTIVES and RECOMMENDATIONS. This will summarize why you are presenting your proposal in the first place. The recommendations segment will be your group's opportunity to be creative. Please include a creative brief for any particular marketing communications element.

-- A perfected positioning statement that your entire presentation is based on.

Research strategy (primary, secondary, qualitative, quantitative)

This paper presents a marketing research proposal for JINS (eye glasses for PC; which is a Japanese product) and aims to be introduced into the U.S. market. The paper has covered all the important sections of the marketing research proposal including background to the research problem, product and industry profile, internal and external analysis, as well as research approach and methodology

Summary

The purpose of this paper is to present a complete marketing research proposal for JINS that wants to introduce its quality eyeglasses manufactured for computer into the American market. The marketing research proposal starts with the definition of the problem statement and proceeds by describing the product profile, market snapshot, POOR analysis, and competitive patterns for JINS. The second section gives a brief explanation of the research objective and possible research questions that can be answered for the purposes of this study. The "Research Approach' section presents a comprehensive description of the methodological framework including data collection methodology, measurement instruments or analytical techniques. For this particular research study, focus group and survey questionnaire have been proposed as the primary sources of data whilst relevant business and trade websites can be researched to obtain the secondary data.

1-page Situational Analysis ( what is going on market place)

JINS, a leading Japanese eyeglasses company that creates glasses to protect eyes from frequent viewing of PC, flat TV, smartphone, and game console displays (JINS PC), intends to enter the American market. In order to make its country penetration strategy successful, the company has to do a comprehensive market analysis and technical appraisal.

- Situational Analysis

The eyeglasses industry seems to have an optimistic future in the U.S. There was recently a drop due to the recession, but the eyeglass industry and demand is expected to pick up and increase in momentum to the extent that profits are predicted to reach U.S.$95.66 billion by 2015. Factors for its growth will largely be due to increase in refractive disorders, increase in the number of ageing individuals and growing awareness over the importance of eye protection.

Eyeglasses have, over the last few years, also become more of a fashion accessory generating a host of innovative designs with better aesthetic appeal, style and quality. Eyeglasses too have recently been made to match outfits as well as to reflect the personality of the wearer.

One of the drawbacks of this latest popularity of eyeglasses (as fashion icon) is that it has become less cheap than it used to be since it has lost its appeal as merely corrective commodity item and has made it more vulnerable to the ups-and-downs of economic trends. Consumers may prefer to go for a cheaper brand, or do without the eyeglasses altogether as a result of reduction in discretionary spending.

Nonetheless, consistent reports predict an optimistic future for eyeglass manufacturers and retailers. The aging population of over 45 years with poor eye vision and symptoms of presbyopia is growing; many of them need eyeglasses. There is a rising demand too for plastic frames and lenses, whilst e-commerce is providing healthy competition to the offline manufacturing scene. (PR Web (2013)

There is competition particularly from companies that include Bausch & Lomb Inc., The Carl Zeiss Group, De Rigo S.p.A., Essilor International, Hoya Corporation, Indo Internacional, S.A., Luxottica Group S.p.A., Oakley Inc., Safilo Group S.p.A., and TEK Optical Canada. And Google has recently created a brand of computer glasses that have micro-chips inserted in the fashionable lenses (CNBC.com (2013). Nonetheless, this is different than JINs productions.

JINS stands a chance.

There is indication too that the Asian pacific region is gaining the greatest amount of profit in this area, being in fact the global leader in terms of eyeglass sales.

- A POOR analysis of the product.

Problems

there is a lot of competition particularly from e-commerce that has managed to provide cheap but quality eye frames for computer viewing at lower prices than offline manufactures. They are able to do this for they manage to bypass many of the costs that beleaguer the conventional business.

The fact that eyeglasses have become a fashion item makes them more vulnerable to the economic fluctuations than they ever were before. Many customers may see computer eyeglasses a luxury that they cannot afford with discretionary spending.

JIN too has formidable competitors that include Bausch & Lomb Inc., The Carl Zeiss Group, De Rigo S.p.A., Essilor International, Hoya Corporation, Indo Internacional, S.A., Luxottica Group S.p.A., Oakley Inc., Safilo Group S.p.A., and TEK Optical Canada. Some of these have already started producing glasses for computer.

Opportunities

The aging population of over 45 years with poor eye vision and symptoms of presbyopia is growing; many of them need eyeglasses and may particularly feel that they need spectacles for computer.

The population who use computer, too, for work is growing and this may spur a need for the glasses. At the same time, the computer technology is growing - PC, flat TV, smartphone, and game console displays -- creating a larger market for the product.

Finally, although not conclusively, there is an increase in refractive disorders and growing awareness over the importance of eye protection in particular as well as one's health in general (PR Web (2013). The growing awareness of hazardous ultraviolet light may also create a market for Jin's products.

Objectives

Glasses are currently seen as fashion accessory instigating an unprecedented interest in acquiring them.

The fact that eyeglasses have become a fashion item opens the business to unlimited opportunity and creativity since innovation has become the trend with eyeglasses and there is always room for more creativity. JIN can merge instrumental value of glasses with aesthetic design, providing quality and cheapness, showing people how they glasses that they wear for computer use are also aesthetic.

Recommendations

it may be worth JINS's while to research whether or not focus on aesthetics can broaden the expansion of Japanese market into America. JINS is also advised to research the possibility of their expansion; whether or not Americans will be interested in their offering; if so to which extent; and the target population.

-- A perfected positioning statement that your entire presentation is based on.

JINS is a leading Japanese eyeglasses company that creates glasses to protect eyes from frequent viewing of PC, flat TV, smartphone, and game console displays. Our eyeglasses have touted as being especially useful for knowledge workers and folks who spend their working hours on a computer. The lens, which are non-prescription, have an Almost indiscernible slight yellowish tint; this decreases the effect of "unnatural" blue light which digital screens emit and which tires the eyes more quickly. The glasses, too, are lightweight, comfortable, and stylish. Each of the spectacles comes in 16 different colors! (Blink .com).

The lenses are made of NXT (an advanced, high-performance material developed by the U.S. military). They cut blue light by 35% and block 99.99% of hazardous ultraviolet light. The lenses are light brown. The frames range from classic to funky (JINS.com).

- Research strategy

Research will be conducted via Internet of secondary sources that discuss the state of the market and interest of Americans in computer glasses. We will also consult economic indexes to see the pattern of the future.

Primary research will be done by targeting a sample population of two groups - people above 45 and a cross sample of people who work using the computer… [END OF PREVIEW]

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