Osim swot analysis Essay

Introduction to the segment of holistic life-style products and their need in todays commercialize Short intro to shit osim and its inheritanceA short study on what has been osims market standing in asia (this lead helper ease the swot analysis in the essay) Introducing what the essay will be about will & How osim raft survive in the marketStarting with strengthAsias no.1 preferred healthy lifestyle scar Since it already has top of the mind rec altogether and customer trust (and loyalty) behind it, it can position itself in America just as it positions itself in the Asian markets. It can position itself as an Asian holistic taint in the American markets. Given its already numero uno status in asia osim can increase its gross revenue by changing up its method of advertising (tvc, print and more outdoor) and creating more brand awareness. failing & opportunityLuxury brand expensive turn around and introduce a need to control it identifym as a medically beneficial product needed by one and all Its main weakness is that it is worthd as a luxury product which ensures that biggest consumer base of middle physique looks at it as a luxury rather than a necessity. To take care of this, osim can price itself competitively and concentrate on its product placements (example, residential areas lobbys) it can also try the unacquainted(p) product use for a limited period, so people can first hand see the benefits of the product. Given its business model (u.s) osim can also innovate its products to suit the needs of the American consumer.Threats shoddy products which make use of the same technology that osim uses Less priced local productsAny competitor who will shop the same array of products at a lower price. Long shelf life of its products (no one will debase a massage chair e trulyday) threatens the business model itself.Introduce the big question, whether or non you think osim will survive? Answer yes, it will. Why?Because it places innovation and g lobal market domination as one of its mission statements. A breakaway from the traditional advertising will suit its needs. Expansion of the brand will help with its evolution.OSIM EXPANSION IS THE KEY TO SURVIVALTechnology ushered in the 21st century and with it came illimitable innovations and products aimed at our well being. With long working hours and even longer waking hours, the health of the average individual(a) has been on a constant decline. This has resulted in a huge market opportunity for many health-based brands, homo oer, as people today want the comforts of the gym in their homes. And given the lack of products or brands that cover this field extensively has resulted in certain brands having a monopoly over this segment. But as we know, monopoly is no guarantee for a long shelf life in a constantly changing consumer market, so what do these leading brands do in order to survive and extend their brand life is super imperative. A brand facing these very questions is OSIM Asias leading health and lifestyle product brand.With monopoly over the health-based product markets in China, Osim rapidly captured markets all over major nations in Asia and established itself as a leading brand in the segment of holistic healthcare. Founded in the year 1980 by Ron Sim, it grew rapidly from its alter beginnings as an electric and home appliances guild to a hugely successful health and lifestyle brand as we know it today. The brand underwent a lot of changes initially when founder Ron Sim having discovered the enormous untapped potential of health and lifestyle products in the Asian market, decided to abandon the original electrical and household appliance route of Osim and dove headlong into the health and lifestyle market in Asia. Consumers were very judge of Osims product offerings and the stock of Osim rose very rapidly in this initial period.But as every coin has two sides to it, Osims business model is in itself a threat to its excerpt With hea lth and lifestyle based products having a long shelf life, people are unwilling to buy Osims product offerings repeatedly.An apt example of the same would be the signature massage chairs that they are celebrated for, while this product is their no. 1 seller, it also has the longest shelf life, making the time period between a repurchase really long. Other similar weaknesses that threaten the brands very survival are market saturation. As other local products flood the market using Osims innovative technology, consumers are bound to be swayed by the promise of cheap price and good technology. period these problems are unavoidable and run parallel to the brands very nature there is a bigger problem that threatens Osim limited market reach.As mentioned before, Osim leads brand markets all over Asia, especially in China. Enjoying a top of the mind recall value as being Asias no.1 health and lifestyle brand, Osim has all but saturated its own involution opportunities inwardly the As ian Continent. This fact match with the long shelf life of its products and a high price bracket make international expansion the only long term and viable solution for Osim to ensure its survival in the long run.Ironically, Osim accept this very problem and they had also made a move to correct the very problem in 2005 when they acquired American national level specialty retailer Brookstonesuch brand is OSIM, asias leading health and lifestyle brand. Founded in the year 1980 by Ron Sim, it grew rapidly from its humble beginnings as an electric and household appliances company to a hugely successful health and lifestyle brand as we know it today. The brand underwent a lot of changes initially with Founder Ron Sim having discovered the enormous untapped potential of health and lifestyle products in the Asian market saw a huge reversal in Osims sales and revenues as people started buying Osims unique health based products. Based on this performance and the markets reaction to his bra nd, Ron Osim officially launched brand OSIM in the year 1993.Riding high on its initial success, brand Osim opened up 60 new point of sale product distribution outlets inwardly Asia. Further reaching out it opened up stores across Malaysia and Indonesia too. This aggressive expansion strategy combine with its business model saw brand OSIM garner the top spot in the Asian markets within a short period of time.