Analysis of super Marketing

Question : Discuss about the super Marketing ? Answer : Introduction Prime Supermarket is prevalent in the Singapore market from very earlier time growing over an area of 10,000 sq ft. It has its existence from since 1991 with having the growth in its strength in each growing day. By making it a successful supermarket, it has maintained by formulating 19 outlets across Singapore for business. It is more prevalent just because the customers are getting much acquainted with the retailing business. Due to the increase in interest of the consumers, there is the increase in the competitiveness in the market. With the result of which there has been the establishment of two supportive trading arms that will help in enhancing the position of the supermarket (Bloom, Draca Van Reenen, 2016). These two parts of the Prime Supermarket facilitates the services as per their concern of the market. In that case, one part of the Prime Supermarket makes the importing of the goods which help in the supply of the perishable products as per the demand of the market. The s econd part of the firm makes its focus upon the lifestyle of the consumers belonging from the countries like China and Southeast Asia (Chesbrough, 2013). This supermarket is established in Singapore to fulfil the expectations of the customers as per their lifestyle. That is the reason the supermarket landed with having a provision for the delivery of good quality of service to the consumers with the formation of the comfortable, friendly shopping environment (Christensen, Anthony Roth, 2013). On the other hand, the Shieng Siong Supermarket in Singapore is one of the third largest chains of the supermarket which is customer centric. That is the reason in the initial condition the has its focus on the wide range of no-frills products due to which it resulted in accepting lower profit margins along with the increase in the sales of products. It also has the specialty to have the employment of the lesser number of staff members that helped in cost saving of the mart (Davenport, 2013). The supermarket also avoids the usage of in-house plastics that makes it pollution free. The organization went through many awards that eventually make it as the third largest retailer company in Singapore. It has been founded by Mr. Lim Hock Chee and two of his brothers. With this success, they acquired the situation of having chain of 37 stores in the market of Singapore. PEST Analysis PEST Analysis of Prime Supermarket Figure 1 The Prime Supermarket is said to be the most renowned retail sector of the Singapore market. Due to this the report includes the description of the pest analysis of the firm including the all the parts like the political, economical, social and technological. As the Prime Supermarket is the earliest retail market in the Singapore market, therefore it helps in providing employment opportunities to many people that are eventually affecting to the political factors of the country. These political factors include the rate of taxes, legislation acts as well as the stability of the country which some way or the other influence on the performance factor of Prime Supermarket (Drucker, 2014). Similarly, the economic factors of the business of this supermarket get affected by the internalization and the diversification of the retail business in Singapore. To enhance the economical values Prime focused towards the increase in the value brands that eventually affects the accessibility of finance within the country. Similarly, the business in the market gets affected by its social factors, as the customers in the market use to demand such product that are influenced by the commonly attitudes and beliefs of the surrounding people (Goldberg, 2013). That is the reason it can be said that the customers in the Singapore market are getting more conscious regarding health that is making them attracted towards the maintenance of healthy food and hygienic conditions. These demands by the customers led to the changes by increasing the supply of organic products in the markets of Singapore. Finally, as the Prime Supermarkets are the earliest retail company in the Singapore market, therefore, the advancements in the technological sector make them more distinct in introducing many new methodologies in attracting the customers and acquiring the market (Huberman Miles, 2013). Along with that the increase in the technology the firm will be able to enhance its long-term objective to have t he ease within the customers that will be proved beneficial in the reduction of labour costs for the company. PEST Analysis for Shieng Siong Supermarket The pest analysis of the Shieng Siong Supermarket is like the above-described pest analysis of the Prime Super market only. It is just because these occurs the analysis of the retail market of Singapore which is very much helpful in identifying the forces that have its impact over the performances of Shieng Siong. As discussed in the above segment the political factors of the Singapore market make its impact with the promotion of free trade within the country. That is the reason it can be said that it has been affected by the globalization process and working towards the companys profit process (Johnston Marshall, 2016). And as per the concern regarding the economic factors, the specialty of the Shieg Siong market is it majorly focuses upon the behaviour of the customer as well as the demand of the customer. The attraction of the customer is the major strategic planning of the Shieng Siong to increase their economic base of the country. Likewise, the social environment includes the attitude and the behavioural aspects of the customers as per the demand of the society. In this manner, the customers get attracted towards the organic food than that of other food material eventually coming to the points that are affected by the effective social factors. At the same time, the technological advancements make the inclusion of the processes that directly affect the operations, supply chain, grocery processing in the supermarket sector. Porter Five Forces Model As the Singapore market is very prevalent with the retail business that is the reason they will be acquainted with the development of the business as per the market scenario. That is the reason both the companies will impose the analysis of the Porters Five Forces Model for the enhancement of their business. For this process, there will have the description of the five major forces or to be said as strengths that affect the competition in the market regarding business (Mowery et al., 2015). Figure 2: Porter Five Force Model Source: (Rice, 2013) These five different forces are such criterion that deals differently with the each and every aspect of the organization as per the market value and the demands of the customers. These five forces are the power of supply of the organizations, buyer power of the organizations, competitive rivalry in between the organizations, the effective threats in between the organization on the market scenario and finally the threat of the new entry of the organization with respect to the market scenario. Therefore both the organizations, Prime Supermarket and the Shieng Siong Supermarket go through the implementation of Porters Five Forces Model to have the perfect match of the market scenario and the solutions to the raised issues (Rice, 2013). Business Canvas Model The business canvas model is such strategic management of the organization that is involved in the development of the new models of existing business firms. That is the reason the business canvas model for both the supermarket organizations are formulated to make a lean start up template including the elements that describe the value proposition of the products of the firm, customers valuation, infrastructures and the details of the finances (Verganti, 2013). Furthermore, it gives the initiation to both retail businesses in Singapore market to align their activities along with the illustration of the potential trade-offs of the market. Ten Types of Innovation Required in Supermarket business in Singapore The formulation of the innovative measures makes the improvement of the retail business as per the Singapore market that helps in the development of the business. These innovations are to be noticed which will enhance the business of the supermarket (Johnston Marshall, 2016). These innovations are network connections, quality of product system, channelling of the supply system, customer engagement within the business, preparation of a perfect business model to enhance the business, formulation of the structure of the company as per the Singapore market, the performances of the product in the organization, the processing of the superior methods, the services of the company towards the customers and finally the representation of the brands in the market to attract the customers (Mowery et al., 2015). Conclusion The paper includes the comparison in between the market environment of Singapore basing upon the retail business in Singapore. After the analysis, it came out that both the organizations are having their sole power in conquering the market of Singapore (Rice, 2013). 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