1) Sheng siong supermarket……………………………………………………….. 3 2) Micro and Macro environment a) Micro environment………………………………………………………….. 3 b) Macro environment………………………………………………………….. 4 3) Environmental trends that affect business……………………………………….. 6 4) Market information system………………………………………………………. 6 5) Conclusion……………………………………………………………………….. 7 6) Bibliography………………………………………………………………………..7
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Sheng siong supermarkets
It is the supermarket in Singapore established by Mr.Lim hock chee in 1985. It’s started out as a family provision store and achieved $600 million in sales and ranked as third largest retailers of Singapore in 2008 by sales volume in survey. In 1995 they introduced traditional “wet market” with supermarket setting which became more popular that people can shop conveniently when compared to other supermarkets. During economic crisis in 2008, they stood steadily and make s$600 million in sales and and as per survey they jumped from eight place to third place in largest retailing sector and tend to expend in future. In 2009 they try to convert their wet markets into air conditioning but some negative feedback from public make government ruled that sites. The chain now acts as a owner for five market and their plants to expand in Singapore and Malaysia in future
Micro environment
In every business micro -environment and macro - environment factors plays a vital role. So we discuss about these factors in sheng Siong case… Micro environment factors are the internal factors that had a direct impact on company’s strategy They include… Customer
Employee
Suppliers
s
1. Customers 2. Employees 3. Suppliers
Company
4. Share holders 5. Media 6. Competitors
Share
Media
Competitor
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Macro environment factors
Whereas the macro environmental factors are the external factors had an affect on organization decision making, performance and strategies It include……
1. 2. 3. 4. 5. 6. 7.
Technological
Economic factors Demographics Legal Legal and political Political Social Technological changes Natural forces
Social and demographic
Economy
Micro environment
Natural environment
In Sheng Siong case Customers:
Sheng Siong continues to give customers high priority like good customers service staff, convenient shopping, selling good stuff cheaper than other supermarkets, because customers should feel there is nothing to lose to shop in Sheng Siong Employers:
They train their employers well to solve the complex issues for customer, Even they used to motivate their staff with their tagline “you have to stand in a queue to buy everything these days, But you don’t need to queue for shopping in Sheng Siong” Suppliers:
In every organization suppliers play a prominent role. At first Sheng Siong buys products from wholesalers and then after in 2008 they started to buy products from direct suppliers/manufactures to get more profits and also it is proved. Sheng Siong doesn’t get profit only from customers they also get income from manufactures.
Share Holders:
Giving a good value for share holders and make their attract to their company is one of the policies Sheng Siong made. They create value for their share holders by planning to adopt several key strategies to increase productivity, growth and profitability.
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Media:
Advertising is one of key internal factor in the business for that they use media even Sheng Siong also advertised in media about their products and service. They took a next step in 2001 may they started a television show “A Sheng Siong show” in which there are children competitions, Luck draws prizes to get into more people mind. Competitors:
Every company has competitive strategy for them to compete with competitors. The competitive strength of Sheng Siong is the established brand name, Price products, launching house brands, extending operating hours etc. Micro environmental factors: Economic factors:
During economic circus in 2008, they produced lot of products that are suitable per all customers. So every company should think of economical factors and provide some products that every customer should buy according to their economical situation. Demographic factors:
These are the factors that depend on age, gender, family, occupation, education, race and community religion. So produce all products Sheng Siong have based on their factors to increase their growth. Legal factors:
Every company should follow all the lows and regulation acts by the government particular country. In case of Sheng Siong they have to pay taxes as per government rules and they should change the price of the products as per taxes.
Political:
The political factors that affect Sheng Siong are trade and economic policies of government. Because every time government introduces a new economic policy they have to change their strategy to maintain stability.
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Social:
Every company depends upon the social factors like natural hazards etc. The companies should be prepared for social factors that affect the business. Technological:
Technology is the main aspect in every organization. In case of sheng Siong they have to use better technology than their competitor to serve the customer and also their employees.
Environmental trends that affects business :
So many businesses in the world are changing their attitude towards environment. “Green business” is increasing in these days in the mind of people due to their interests shift towards environmental consciousness and projection of current trends. In case of Sheng siong they give lot of importance on supporting and keeping our environmental green and for that they introduced conservation measures to maintain the environmental. They encouraged recycling and also use of environmental friendly products.
Marketing information systems:
Every business formally gathers the marketing data and they will analyze, and it will be distributed to manager which helps in decision making
Marketing
Interactive Marketing
Sales for automation
Marketing research and forecasting
Information
system
Advertising promotion
Customer service and support
Sales management
Product management
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In case of sheng siong they should use this marketing information to perform well in future. They should introduce some membership cards from that they can easily know the products sales and also they should provide. Customer feedback slips from that they can know the problems the customer which facing and they can rectify in future and improve the product and expand their stores. In the world of competition every business should introduce a new product that attracts the people than other companies.
Conclusion:
In future I suggest sheng siong group have to analyze and understand all these factors in order to make a strategic decision making to innovative more and more customer friendly products at affordable prices in every situation. In future I clearly say’s that sheng siong will rank higher position in the retail market in Singapore Bibliography:
