1 . Introduction Popular Cooperation is a Singapore-based company that may be listed on the Singapore Exchange.
Well-liked is best known because of its chain of Popular Bookstores under the Price tag and Distribution unit. The Group at present carries out it is publishing actions through subsidiaries operating in countries such as Singapore, Malaysia, Hong Kong, Macau, Taiwan and Canada. Its bookstore operations have a network of over 90 Well-known Bookstores and 360 Well-known managed bookstores with its key businesses in retail, syndication, publishing and e-learning. 2 . History of the business |1924 |Popular started in Singapore under the trade name of Cheng Hing Company, structured on the overdue Mr Noir Sing Chu.
It sent out | | |Chinese storybooks. | |1930 |Established Community Book Business in Singapore to disperse Chinese books and later joined the posting business. | |1936 |Established Popular Book Company in Singapore to market Chinese catalogs. | |1949 |Incorporated World Publishing Organization in Hk to publish magazines and Chinese books for both neighborhood and Asian markets. | |1952 |Set up United Creating House Pte Ltd in Singapore and Malaysia to write textbooks. | |1975 |Started offering English language titles in Singapore and was located as The Bilingual Bookshop. Business grew dramatically. | |1984 |Opened the first bilingual bookshop in Malaysia. | |1990 |Introduced the most popular Card to cultivate customer loyalty. | |1993 |Expanded the business opportunity by retailing music products and audio add-ons under the brand name of CD-RAMA. | |1997 |Listed Well-liked Holdings Limited (POPULAR) around the Singapore Exchange.
In view of the Group’s sole leadership framework, Mr Vangatharaman Ramayah was appointed because the Self-employed Director to lead and synchronize the activities of nonexecutive directors in instances where it could be inappropriate pertaining to the Leader to provide in these kinds of capacity. The Independent Owners, Mr Vangatharaman Ramayah and Mrs Lim Soon Tze ensure that there is also a good harmony of electricity and authority to enable 3rd party exercise of objective thinking of company affairs. All major decisions of the Chairman are examined by the Review Committee (chaired by Mister Vangatharaman Ramayah).
The Nominating Committee (chaired by Mrs Lim Shortly Tze) reviews his overall performance periodically plus the Remuneration Committee (chaired by Mr Vangatharaman Ramayah) reviews his remuneration package. Consequently, the Table believes that you have adequate shields against an uneven focus of electrical power and expert in a single person. For managing purposes, the Group is usually organised on the worldwide basis into business units based on goods and solutions, and offers four operating segments the following: Retail and Distribution, Publishing and E-Learning, Property Creation and Corporate.
Ms Lim Lee Ngoh and Mr Poon Chi Wai Ponch are definitely the Executive Owners who will be in charge of the performance with the businesses. [pic] 4. Market segments Served 4. 1 Countries Served By 30 Apr 2012, Well-liked had 148 bookstores 63 in Singapore, seventy in Malaysia and 15 in Hong Kong. Popular is the biggest book retailer in Singapore, Malaysia and Hk (Chairman’s Declaration, Annual Survey 2012). Well-known is making fast and extensive inroads into the Higher China marketplace, especially in Cina and Taiwan.
There have been promoting offices and subsidiaries set up in Beijing, Shenzhen, Guangzhou and Taipei. some. 2 Consumer Groups Offered Due to the various branches in the core organization and the variety of products offered at retail stores, Well-liked serves diverse customers numerous, including learners who constitute a large percentage of their consumer bottom. Popular’s customers range from person consumers to corporate teams. 5. Items Offered Popular has its core businesses in full, distribution, posting and E-learning.
As stated inside the 2012 Twelve-monthly Report, though the book business is often labelled a sunset industry, retail and distribution [of books] are one of Popular’s strong primary businesses. Popular’s bookstores possess products such as books (textbooks, assessment catalogs, storybooks, guide books), CDs, DVDs, educational software, pc accessories, art materials, stationary, electronics, toys, games and gifts. 6. Recent Functionality of the Organization Popular Book shop has been attaining increasing renouvellement for three or more consecutive years.
As observed in Fig 1 ) 1, Well-liked achieved a turnover of S$439 million in 2011 in the Retailing and Distribution sector, improving from the past outcomes of 2010 and 2011. The increase in turnover inside the Retail and Distribution segment is mainly because of 9 fresh outlets opening in various places in Singapore, Malaysia and Hong Kong and the book coupon programme saved in Malaysia, where Malaysian students were every single given an e book voucher well worth RM$200 every as part of Malaysia’s government finances in the education sector. Also, the elevated turnover is a result of reduced costs This season, Popular reduced costs simply by reducing the retail store space from15200m2 last year to 13700m2 in 2010.
Its Publishing and E-Learning sector is doing well as well, with its turnover elevating from S$69 million this year to S$72 million this year. Go-Easel can be one of Popular’s initiatives which will led to this increase in yield. Go-Easel features digitalised examination books which gives instant tagging and step by step solutions. This gained popularity among students and parents due to the convenient and effective approach in helping learners academically. [pic] Profits ahead of tax (PBT) in the Price tag & Syndication of Well-liked Bookstore skilled a positive development as displayed in Number 1 . a couple of, with PBT of S$29 million this year, improving by S$19. you and S$10.
9 million in 2011 and 2010 correspondingly. However , there were a drop in PBT in the Submitting & E-Learning sector, lessening about twenty-four. 7%, by S$9. 7 million this summer to S$7. 3 , 000, 000 in 2012.
It was due to the final of one of its magazine distribution business due to restructuring. However , because this closure is only a one-off cost, the prospects in the Publishing & E-Learning sector in Well-liked Bookstore continue to remains hopeful for future growth and greater income. [pic] six. Macro-Environment Analysis 7. one particular Political Makes Education policies implemented by government can easily improve Popular’s sales. For example , in Malaysia, as part of the budget allocated by government this year, every college student in Malaysia received a one-time book voucher worth RM$200. This kind of policy triggered greater spending in bookstores by the Malaysian community.
Well-liked was the biggest bookstore firm with seventy bookstores in Malaysia, so Popular skilled an increased proceeds in 2012. Yet , governmental polices may limit demand and minimize profit to get Popular Book shop. The Press Development Expert in Singapore prohibits any kind of import of books, distribution, audio elements that contains content material that may be objectionable on meaningful, racial or religious environment, or considered detrimental to Singapore’s national fascination. (MDA, 2011) Therefore, Popular Book shop is restricted inside their range of catalogs and mass media as it has to comply with these regulations, creating it to lose some of its competitive edge to online E-books retailers.
Publication readers in Singapore could possibly purchase the restricted materials from these suppliers, as these suppliers are based overseas and they are not constrained by the Singapore law. 7. 2 Economic Forces The relatively large inflation level in Singapore (4. 1%) and Hk (4. 0%) in 2012 as well as the bleak global economic view is luckily, not much of your stumbling block to get Popular Bookstore, with it achieving positive growth in the Retail and Distribution sector. This could become attributed to the items that Well-liked sells, that are mostly books (Eg.
Assessment books, textbooks)and stationery. The necessity for these things has a small , and positive value of income-elasticity because they are essentials and regular goods for young students. Hence, a decrease in earnings due to poor economic conditions results in a less than proportionate decrease in demand for Popular’s books, thus Well-liked has not been poorly affected.
7. 3 Interpersonal Forces In today’s universe, many deem education while an important device towards a better paying task and a better life. Hence, the investing in education, consisting of spending on books, stationery and assessment ebooks, is increasing. For example , in Singapore, the buyer spending on education has been increasing at a steady rate, via US$ 84.
1 million in 2008 to US$155. 4 mil in 2011. (GMID, 2012). This shows that Singaporeans are increasing willing to dedicate to education-related things, such as books and evaluation books, to supplement the learning.
As a book shop with a specific niche market product market of assessment books and textbooks, Well-known Bookstore is able to benefit from this kind of trend of increased spending in education. With the comparatively high pumpiing rates, particularly in Singapore and Hong Kong, individuals are becoming more benefit conscious. Well-known Bookstore has been doing well to cater to the requirements of the consumers and predicting a value for money’ image, by providing membership credit cards and offers on their products on a regular basis. One of such promotions is the back-to-school promotion, enabling students and the parents to purchase stationery and books by discounted prices.
7. 4 Technological Forces The increasing online connectivity of the Net island large (e. g. 4G mobile phone network and OpenNet in Singapore) has resulted in more on the web consumers. How big is the online shopping market is large, reaching S$1. 1 billion dollars in 2010, and it is expected to reach S$4. 4 billion in 2015. (Techinasia, 2011).
This might possibly show that customers who usually invest in brick-and-mortar shops like Well-liked would today shop by online bookstores such as Amazon or Barnes & Rspectable. While Popular does have an internet bookstore, not necessarily well-known or perhaps often-used. Therefore, the presence of well-established international on-line bookstores get a substitute to Popular Bookstores. Also, the affordability of e-books can pose a risk to Popular’s sales of hardcopy catalogs. The price of Kindle Fire, an e-reader manufactured by Amazon, dropped to US$159, which makes it more affordable to get consumers.
Amazon online marketplace uses the pricing approach of damage leader, that involves setting the price tag on Kindle Fire by cost price, and making significant profit from the sale of e-books. Therefore , ebooks have now be a substitute of hard-copy literature, such as these sold by Popular. several. 5 Legal Forces The introduction of the Lemon Law in Singapore in September 2012 could affect Popular Bookstores. With the lemon law, buyers can ask for an exchange or even a total refund if goods do not satisfy standards of quality and performance. (CASE, 2012).
This could mean decreased income for Well-known Bookstore in the event consumers keep returning to the bookstores to switch their purchased goods. Without right enforcement or perhaps monitoring, the Lemon Law could even be mistreated by buyers who repeatedly demand for an exchange or perhaps refund, leading to a lack of efficiency and profits. However , Popular is unlikely to become threatened by the Lemon Regulation, as it previously has an exchange policy in place, where it allows their customers to exchange faulty goods within 7 days of purchase. 7. six Impact of Macro-Environment Causes on Well-liked Bookstores Popular Bookstore still remains a solid name in the book industry.
The very fact that it provides the majority of the market share in Singapore and the company’s PBT has been continuously increasing demonstrates that the firm has been remaining competitive in spite of the huge number of macroenvironment factors it faces. almost eight. Market, Industry and Competitive Analysis pertaining to Book Potential buyers in Singapore Our selected market is the market of book buyers in Singapore. Such as customers whom buy ebooks from the two physical bookstores and on the net bookstores. almost 8. 1 Market Size Industry for book-buyers is that of a great oligopoly, with few incumbent firms.
Hardcopy book structure is still a multi-million dollar market in Singapore going good in the face of firm competition by online publication stores. The total market size of brick-and-mortar shops is worth around $165million. This summer, Popular Bookstores hold regarding 62.
5% of the total market share, with Kinokuniya (25%) and Times Bookstores (12. 5%) as Popular’s primary competitors. almost eight. 2 Industry Trends. Well-known Bookstores is still experiencing a growing trend as the value sales grew from $4, 106 million in 2006 to $5, 107 million in 2011. This might be due to the developing affluence from the Singaporean populace, resulting in larger demand for literature for both leisure examining and education.
However , this trend might not continue in the future. This is because of stiff competition confronted from e-books and on the net stores just like Amazon, Book Depository. Fortunately, Bookstores just like Borders and Page One have the ability to exited the Singapore industry and thus there is less competition from these types of large, well-researched firms with Popular Bookstores.
8. a few Industry SWOT Analysis to get Book Purchasers in Singapore | |Positive Effect |Negative Effect | |Interna|Strengths |Weaknesses | |l |Popular contains a widespread string of stores throughout Singapore, |Low number of books in comparison with other bookstores such as | |Factors|especially inside the heartlands. This makes it very available and |Kinokuniya | | |convenient intended for the customers. |Lack of understanding of its on the web bookstore | | |Wide range of textbooks and stationary with quite strong monopoly power |Limited choice of literature on the online book shop (e. g. Twilight, | | |over assessment literature and books |Lord from the Rings, Animal Farm) | | | Existence of prologue and Epilogue ( a book coffeehouse located in prologue ) to supply an alternative book-buying experience: a novel|Absence of a proper feedback system about its online bookstore | | |brand of book retail therapy, distinctively created to give a unique |Under-utilization of Facebook page resulting in lack of exercise and | | |multifaceted lifestyle experience’. |unresponsiveness | | | prologue was awarded the Premium Services GEM Prize for the Books | | | |and Stationery Category by the Singapore Stores Association in | | | |recognition of POPULAR’s effort in delivering superb customer | | | |service. (Chairman’s Statement, Annual Report 2012) | | |Externa|Opportunities |Threats | |l | Growing incomes of book-buyers cause greater demand for books for |Local brick-and-mortar opponents such as Kinokuniya are trying | |Factors|leisure and education |to improve their presence by developing a fourth retail outlet in Jurong | | |Many with the target audience happen to be tech-savvy but have yet to acquire |East MRT (JEM) to talk to more customers. | | |e-book readers just like Kindle or perhaps Nook |Due to technical advancement, the Popularity and accessibility| | |Well-established organizations like Region and Page 1 have previously left |of online bookstores (Amazon, Barnes & Respectable, Book Depository) and| | |the Singapore market, reducing the amount of competition |e-books is usually decreasing the necessity for hardcopy books at physical | | | |stores | | eight.
4 Thorough Industry Analysis of Bookstores | | |Physical Retailers |Online Retailers | | |Kinokuniya |Second-hand Bookstores |Amazon/Barnes & Rspectable |Book Depository | |Description |Kinokuniya bookstores are located in central city |Various second-hand bookstores in Singapore |Both Amazon and Barnes & Noble will be American on the net retail |Book Depository is actually a UK-based | | |locations, with its flagship store located at Ngee Ann |sell many classic and modern-day titles for |giants centered on selling literature in both hardcopy and |independent online bookstore | | |City. Kinokuniya provides a wide range of games and also a |extremely cheap prices. |e-book types.
They are arranged discussed together in this |which sells generally hardcopy | | |cafe within it is store. |There are many second-hand bookstores in Bras|table due to their similar qualities. |formats. | | | |Basah Intricate. (Eg. Evernew Bookstore, Expert | | | | | |Saint Bookstore, Publication Point, Expertise Book | | | | | |Centre) | | | |Strengths |Offers a wide selection of titles in various different languages | Really cheap rates will attract |They own an ecosystem that belongs to them through their Kindle and |Provides free shipping services, | | |including English, Chinese, Japanese, French, and German born |consumers buying good go through. |Nook tablet products that allow visitors to buy ebooks and |which allows rates of books to | | |Successfully marketed alone as a high grade bookstore in |Good to get casual reading, if the reader is not|download it to their tablet reader immediately. |remain cheap | | |Singapore with many its stores in the city area. |looking for a particular title |Online shops result in decreased operational set costs such|Occasional discounts as high as 90%| | |Niche industry focus on informal book viewers | |as rental fees and staffing costs in comparison to |makes books very cheap | | | Premium regular membership strategy i actually. e. More expensive membership| |brick-and-mortar stores.
Therefore , they are able to promote | | | |card ($21) offering limited discount rates to attract consumers | |both e-books and hardcopy formats by a discounted price. | | | |to purchase more titles to get back their very own money’s really worth. | |Extremely wide collection of titles. | | | | | |It is simple to search for headings because the search process is definitely | | | | | |automated. | | |Weaknesses |Books are listed higher than its competitors due to its |Limited variety of titles, specifically newer |Penetration of their respective ecosystems are generally not widespread |It is relatively unidentified to the | | |premium branding and higher leasing costs inside the city |titles, consumers trying to find specific books |in Asia |crowd in Singapore. | | |Limited market transmission due to its limited number of |may not be able to find what they want. |Shipping costs and waiting time negates some great benefits of online| | | |stores. | |shopping as selling price of shipping and delivery from America is usually substantial. | | | | | |Asian titles are certainly not as different / wealthy as they are | | | | | |America-based. | | almost eight. 5 Competitive Analysis Using Porter’s Five Forces almost 8. 5. 1 Threat of recent Entrants The threat of recent entrants in the physical book shop industry is comparatively low since there are low limitations to entry.
This is due to solid customer commitment to founded players like Popular and Kinokuniya taking over the market, high sunk costs and financial systems of range setting at the end of. Also, the book sector is also deemed as a sunset industry, which is less attractive to firms since this is associated with low profitability, thus firms are much less likely to enter the market. Nevertheless , these low barriers to entry just apply to the industry of physical bookstores. Popular continue to faces a unique kind of competition from on-line bookstores, that happen to be close rivals with physical bookstores. eight. 5. a couple of Degree of Alternatives There is a substantial degree of substitutability.
In terms of physical bookstores, book buyers in Singapore have sufficient alternatives to go to just like big market players just like Kinokuniya and Times and second-hand shops at Bras Basah Complicated. Kinokuniya and Times will be strong opponents because they feature a greater number of books from different countries, and have advertised themselves as premium bookstores due to their position in the city area. Second-hand bookstores for Bras Basah Complex (Eg. Evernew Book shop, Pro Heureux Bookstore, Book Point, Expertise Book Centre) are also a threat since they offer inexpensive books.
Besides physical stores, online bookstores like Amazon online, Barnes & Noble and Book Depository are prominent the book-buying market in Singapore. These types of online bookstores offer a easy and quick way to acquire books without being physically with the store, and the benefit of having purchases brought to customers’ doorsteps. E-businesses also can offer even more competitively-priced books than Well-liked because there is no requirement to pay for local rental, which takes up a huge portion of fixed cost.
For instance , Amazon sells a book titled Act of Valour for $9. 99, whereas Popular sells similar book at $17. As well, most bookstores located in a specific region could sell catalogs at similar prices, and so customers who are unwilling to travel would have a low propensity to switch to other physical bookstores in case the switching price exceeds the savings received from simply slightly less costly books. However , the increased popularity of on-line bookstores may increase the negotiating power of purchasers.
Buyers become less influenced by existing programs (ie. Physical bookstores) and will now switch to purchasing ebooks online rather. 8. 5. 4 Negotiating Power of Suppliers There is low bargaining benefits of suppliers.
In terms of the book-buying market, Popular Bookstores’ suppliers are mainly publishing firms. Because there are many suppliers in the market that engage in submitting work, we have a low supplier to organization ratio. Because of this Popular Bookstore can change suppliers very easily. Furthermore, there is low transitioning costs for Popular because they can very easily turn to their particular subsidiaries including Novum Organum Publishing Residence Pte Ltd and Educational Publishing House Pte Ltd. Likewise, there is low supplier competition because it is hard for suppliers to top to bottom integrate then sell the products to buyers directly.
Therefore , suppliers have a low bargaining electrical power, which fortifies Popular’s position and specialist. 8. five. 5 Degree of Market Competition Amongst Existing Competitors There is also a strong intensity of marketplace rivalry among existing competition like Moments, Kinokuniya, and second-hand bookstores.
This is because we have a lot of place for differentiation in terms of the four factors in the marketing mix. Product differentiation can come in the form with the variety of ebooks, in terms of the subject matter and country of origin. Price differentiation can also be present as some bookstores have got higher priced books due to their famous brand name or perhaps location. Place differentiation can be in terms of a store environment and store location, while promotion differentiation could be in terms of standard of advertising, frequency of discounts, customer entry to publicity elements and staff service criteria.
Therefore , bookstores face very much competition amidst themselves because there are so many ways in which they can differentiate themselves in providing the perfect book-buying knowledge for book-buyers in Singapore. 9. Client Analysis and Segmentation to get Book Potential buyers in Singapore 9. 1 Customer Account: Book Potential buyers in Singapore The selected marketplace of concentrate for Well-known is publication buyers in Singapore. Potential book purchasers are any kind of literate consumers in the country, via 6 years-old onwards (Stuart, 2010).
This kind of customer base is continuously growing, albeit by a slow rate due to the low fertility price in Singapore (Wong, 2012). Majority of Singaporeans are literate (Department of Statistics Singapore, 2012) because they have fundamental primary education which is obligatory for all residents (Ministry of Education Singapore, 2011). In addition , an influx of foreign talents from a different nation to support Singapore’s infrastructure and economy (Yeoh & Lin, 2012) also increases the range of book customers in Singapore.
The earnings of book buyers can be inferred through the Singapore Division of Stats. The average month-to-month household via work which includes employer CPF contributions between resident employed households in 2011 was S$9, 618, as the average month-to-month household cash flow from work per household member which includes employer’s CPF contributions amongst resident applied households was S$2, 925. These earnings have a generally increasing trend by past years, and had been the highest in 2011, reflecting the increasing importance of book buyers.
Because books will be normal products, an increasing salary of customers might increase the with regard to books. However , since the selected market of focus can be solely talking about individuals, businesses or companies are not included and revenues are not regarded as. To develop a highly effective marketing strategy, you will need to understand the targeted customer base and its particular segments. Comprehensive profiles of the company’s concentrate on customers are usually required, and this is done by simply expending methods to part these target customers. Publication buyers may be segmented relating to demographic and psychographic factors.
9. 2 Market Segmentation Well-known segments its market by simply key variables such as gender, age, education, race, nationality and the friends and family life routine. For the identification adjustable of male or female, books concerning beauty plus the domestic ball such as menu books accommodate more to women, as the genre of sports and cars appeal more to men.
When it comes to age, segmentation is seen as a one’s your life cycle, since exemplified simply by pre-school books, children catalogs, teenage fictional works and magazines, adult fiction and self-help books, and so forth The company’s philosophy expertise and education (Chua, 2010) has been manifested in the prevalent sentiment that Popular’s specific niche market is in assessment books and textbooks (Survey, 2012) which is a large portion of the customer foundation of publication buyers. This demonstrates how a market is segmented by education, as catalogs are focused on the demands of college students in every stage of education primary, supplementary and tertiary, and also for individuals in different disciplines organization, finance, management, etc . The market is also segmented by competition, as there are ebooks in different different languages such as The english language, Chinese, Malay and Tamil.
The variety of books in the Singapore & Southern East Asia and Cookware Collections likewise show that the market is together segmented simply by nationality as well. Finally, the family life cycle is likewise an important changing as Popular’s books serve the demands of different households at different parts of the circuit, providing catalogs on sports and enjoyment for people without children, and literature on raising a child and overall health for households with kids, etc . on the lookout for. 3 Psychographic Segmentation The identification variables of persona, lifestyle and social school also enter play pertaining to the selected market of book buyers.
Depending on the variety of styles provided by Well-liked such as fiction, classics and literature, comics and humour, astrology and new age and self-improvement, it can be seen that Popular designs its catalog to appeal to different people with distinct personas. Likewise, in the culturally different Singapore with an inherent multicultural lifestyle, Well-known recognizes the value of meeting the requires of various people by offering a multitude of00 books for every lifestyle, just like books upon cooking or food and wine, outside and nature, photography, travel, etc . The different social classes have also led to Popular’s growth in the market, as illustrated by novel brand of book selling therapy noticed in prologue (Popular Holdings Limited, 2009) to cater to the higher-income course, which has an upscale identity that is quite different from the family-oriented, fluorescent-lit heartlander appearance and feel that Well-known bookstores have come to embody (Lui, 2009).
12. Marketing Objectives Popular’s primary objective is always to establish a solid regional existence by learning to be a Central Cleaning House to get both British and China books in the Asia Pacific Region (Popular’s Strategic Eye-sight 2012). As such, their advertising objective is to offer a wide array of books with relevant, exclusive, and high-quality content in value-for-money prices. (Popular’s Strategic Vision, 2012).
Next, Well-known aims to differentiate itself via both brick-and-mortar bookstores and online bookstores which both equally serve the same book-buying market. This is especially important because Well-liked is in an oligopolistic marketplace and encounters strong competition. These brick-and-mortar bookstores range from the well-established Kinokuniya, Times and massive Bookshop, and second-handbook stores, while on-line bookstores incorporate Amazon and Barnes & Noble.
Hence, Popular’s promoting objective is always to capture a larger market share through differentiation. Lastly, in terms of all of the books, Well-liked aims to end up being the largest and a lot innovative publisher of bilingual books (Popular’s Strategic Vision, 2012). That attracts publishers like Seashore Publishing (M) Sdn.
Bhd. to Singapore, which dominates the market to get bilingual recipe book and general-interest Mandarin books. Through the books, Well-known also intends to promote the Chinese language, heritage and culture. To capture a larger buyer market and establish a strong regional presence, Popular in addition has ventured in overseas market segments such as Malaysia, Mainland Chinese suppliers, Taiwan and Hong Kong. 10. 2 Value Popular has adopted diverse pricing techniques for Popular and Prologue.
Sexual act has adopted a premium value position for his or her products. This tactic of prestige pricing is acceptable as Debut is targeted at the higher end consumers who would be offering higher rates. On the other hand, Popular has adopted mainstream selling price position for his or her products.
The merchandise offered by Well-liked is at an extremely affordable price mainly because it is mainly focusing on the majority of the populace. Furthermore, Popular offers items at competitive prices when compared to other bookstores. With its membership card, Well-liked offers further more discounts within the prices of its products and this further improves its competitiveness in the industry. Additionally , Popular’s regular membership card can be acquired at a low cost (e. g. $20 intended for 3-year account for students), as compared to various other bookstores, such as Kinokuniya ($55.
60 pertaining to 3-year membership). 11. three or more Product Popular feels that to be able to stay relevant with changing consumers’ preference and choices, they should still innovate by selling new products. Therefore, in 2009, Popular opened UrbanWrite’ and prologue ‘. UrbanWrite, a lifestyle stationery concept retail store that goes beyond the basics, offer slightly different products just like scrap book components, stationaries which are not available at Well-liked Bookstore.
With new principle stores under Popular, including prologue and UrbanWrite, it can be pertinent to ensure that Popular would not lose the identity as being a one-stop stop to avoid misunderstandings amongst their consumers.