Fundamental of Marketing

(MKT 243)

THERAPY WATCH

“Healthy?? No Border Anymore!! Nur Shahira binti Muhamad Azmi 2013914599 Nur Atikah binti Rospa 2013743251Ahmad Noor Ashraf bin Nor Hashim 2013704167Muhammad Azwan bin Md Hashim 2013535431Zuraini binti Zakaria 2013163059

PREPARED FOR:

Madam Rafidah Abdul Azis

ACKNOWLEDGE

Bismilahirahmannirahim..Assalamualaikum wbt.. Thank you to Allah SWT for given us on opportunity to finish this assignment that has been given by our lecturer.

First of all, thank you to Allah SWT for given us a bless and permission to finish our assignment. Without Allah SWT bless we will never can finish our assignment.

Next, we are really want to thank to our beloved lecturer Madam Rafidah Abdul Azis. Without the guidelines and instruction from her, we can’t finish this assignment. Our lecturer also had given us a lot of suggestion and advice for us to finish our assignment. By the suggestion from our lecturer we can think properly a product that we want to do for this assignment. A lot of thank you word we awarded to our lecturer Madam Rafidah Abdul Azis. Thank you so much madam.

We also want to say thank you to all our classmates that also been help us in this assignment. Without you guys we maybe couldn’t finish this assignment.

Last but not least, we want to say thank you to everyone that has been involved in our assignment in direct or indirect. Thank you so much.

NO. SECTION PAGE

1 1.0 INTRODUCTION1.1 GROUP’S OBJECTIVES 1

2 2.0 COMPANY’S PROFILE2.1 COMPANY’S BACKGROUND2.2 COMPANY’S COMPETITORS2.3 TYPES OF CONSUMERSBUYING DECISION AND CONSUMER INVOLVEMENT2.4 MARKETING MANAGEMENT PHILOSOPHIES2.5 COMPONY CORPORATE SOCIAL RESPONSIBILITIES(CSR)

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3 3.0 PRODUCT CONCEPT3.1 COMPANY’S PRODUCT3.2 TYPES OF CONSUMER PRODUCT3.3 PRODUCT ITEMS, LINE AND MIXES

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4 4.0 MARKET SEGMENTATION4.1 TYPES OF SEGMENTATION4.2 STRATEGIES FOR SELECTING TARGETING MARKETS4.3 POSITIONING 4.3.1 POSITIVE/NEGATIVE 4.3.2 POSITIONING BASES

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2020

5 5.0 CHANNEL STRUCTURE5.1 TYPE OF MARKETING CHANNEL5.2 LEVELS OF DISTRIBUTION INTENSITY5.3 RETAILING

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6 6.0 PROMOTION6.1 PROMOTION STRATEGIES6.2 ADVERTISING-MEDIA TYPES6.3 PUBLIC RELATIONS-MAJOR TOOLS6.4 SALES PROMOTION

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7 7.0 PRICING7.1 PRICING OBJECTIVE7.2 PRICE STRATEGIES7.3 PRICING TACTICS

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8 8.0 CONCLUSION8.1 ACHIEVE GROUP’S OBJECTIVE OR NOT8.2 LIMITATION8.3 LEARNING EXPERIENCE

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9 9.0 REFERENCES 3010 10.0 APPENDIX 31

TABLE OF CONTENTS

1.0 INTRODUCTION

1.1 GROUP’S OBJECTIVES

What we except from this new product??

We want to introduce our new product to the world We want to put in our product to the market We want to be the first company, make this product and want to lead the market We want to increase our company sales, image and so on

What we expect from this assignment??

We will learn and more understand about marketing mix We will able use the marketing mix into our assignment well We will improve our knowledge about MKT 243

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2.0 COMPANY’S PROFILE

2.1 COMPANY’S BACKGROUND

“OGAWA” Means stream in Japanese. Using this as its philosophy, OGAWA creates its corporate ideals based on the concept of starting from “ a river source” and emerging at the end “mighty as the ocean”. Our co-founder is Mr. Wong Lee Keong and Ms. Lian Poh Khian. OGAWA begins in June of 1996, their venture into chain store outlets began with their first outlet in Summit Square, Selayang. The store comprised of only 3 employees and 5 products

OGAWA across borders. Penetrates overseas markets within Asia Pacific region, including Singapore & Indonesia(2002), Australia(2003), China (2005), Hong Kong and Vietnam(2006).

OGAWA World share make debut on KLSE. OGAWA posted revenues of RM136 mil during their financial year end of June 30, 2006.

Currently, OGAWA has 169 outlets in 26 cities across 9 countries.

Copyright © 2007 - 2010 OGAWA WORLD BERHAD

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ORGANIZATION STRUCTURE

RICHARD WONG LEE KEONG LIM POH KHIAN Non-Executive Chairman Non-Executive Chairman

CHEAH YEW KONG LIM MEE LINGExecutive Deputy Chairman/Chief Chief Operating Officer/Executive Executive Officer Director

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LOUIS CHONG SWEE MAIN PATRICK LIM WAI HENG Executive Director Executive Director

Y.A.M RAJA DATO SERI AZUREEN DR.AHMAD KAMAL BINTI SULTAN AZLAN SHAH BIN MD ALIF Independent Non- Executive Director Independent Non-Executive Director

LEONG KHAI CHEONG Independent Non-Executive Director

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2.2 Company’s competitors

OGAWA is involved in the development, design, and distribution of health and wellness equipment. We are also engaged in regular research to gather information on the latest market trends through market observation and feedbacks obtained from our customers. In order to cater to the different needs and preferences of our customers, our Product Design & Development team is constantly conceptualizing and developing designs for new product models with quality and affordability in mind. 

Through our commitment in product design, quality assurance and brand building, the OGAWA brand has emerged as one of the leading Malaysian brands in the local health and wellness equipment market. OSIM is the closers competitors for OGAWA.

About OSIM (M) Sdn Bhd

OSIM is a global leader in branded healthy lifestyle products. Listed in the Singapore Stock Exchange, OSIM has over 25 years of experience and uncompromising dedication in developing innovative and reliable healthy lifestyle products. OSIM is the name you can trust for a healthier lifestyle and overall well-being. They have more than 100 innovative products covering the four focuses of Health, Hygiene, Nutrition and Fitness. From massage chairs and air purifiers to health supplements and treadmills, OSIM has everything to make be the best competitor’s to OGAWA.

Products & Services

Brand OSIM is synonymous with healthy lifestyle. It's more than its range of innovative products

and services. It's more of an intangible asset,that is to be felt and enjoyed. It is a lifestyle. And how does one experience it. Brand OSIM is about intelligent innovation. They have raised the benchmarks for healthy lifestyle products. They have created some of the world's firsts. For example, products such as iDesire, iSymphonic, iMedic, iSqueez, iSense and iTango. Their products are relevant to today's needs. They delight and excite their customers in so many new ways. They are committed to be the best in the world. For each product or service they develop, they promise uncompromising quality and reliability. For 25 years they have consistently delivered, earning us the reputation as the leading authority in healthy lifestyle products. This is what they do best. They intend to do even better as we go forward.

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2.3 TYPES OF CONSUMER BUYING DECISION AND COSUMER INVOLVEMENT

Before consumers buying a product, they will go through the Consumer Decision- Making Process. They will need recognition. When they have recognition, our role is to lead a consumer to have recognition. We need to make them have recognition by make an ads, etc. After then, consumer will start looking for next process, Information Search. In this process consumer will ask information from family, friends, etc. In this process also, consumer will use evoked se. Evoked set are a group of brands resulting from an information search, from which a buyer can choose. Next, Evaluation of alternatives and purchases. Divided into three. First, analyze product attributes. For example, the appearance features, etc. Second, use cutoff criteria. For example, the consumer budget, etc. Lastly, rank attributes by importance. For example, consumer will look from the importance, etc. So, we need to make sure our products are attractive enough. Next, consumer will make a purchase. Consumers will decide to buy or not, our product. Last process is a postpurchase behavior. In this process we going to make sure that consumer will not disappointed with our product. We will give a warranty and guarantee.

We can classification “Therapy Watch” as Extensive decision making and consumer involvement. Because it will involved a high cost of goods, Evaluation of many brands like OSIM, Need long time to decide and may experience cognitive dissonance.

TYPE OF CONSUMER BUYING DECISION AND INVOLVEMENT EXTENSIVE

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2.4 MARKETING MANAGEMENT PHILOSOPHIES

We are using a Market Philosophies. Satisfying customer needs and wants while meeting objectives. The idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives.

To achieving our marketing orientation, we will obtain information about customers, competitor’s and markets. We also will examine the information from a total business perspective customer value. We will implement actions to provide value to customers.

We believe by using these philosophies, our “Therapy Watch” will be accepted in the markets.

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2.5 Corporate Social Responsibility Statement

OGAWA World Berhad has been on a mission to help and support those less fortunate to find their voice through our on-going Corporate Social Responsibility initiative. We are focused on helping people experience a more balanced lifestyle, with an emphasis on wellness. We feel that it is only right that we extend a helping hand to support those with disabilities, who are often overlooked.

In this year 2012, as part of Ogawa CSR campaign, held in conjunction with Parent’s Day, OGAWA ran an online campaign called “Heart DeLights”. We have run activities on Facebook fan page to engage audience and there were also on-ground events held in line with the campaign. Public were urged to submit messages expressing love and appreciation for their parents.

OGAWA pledged to donate one massage chair to an elderly care home for every 500 messages received through this campaign. We brought in our ambassador, Malaysian radio DJ Jack Lim, who was also known to be a filial son to drive awareness towards the campaign.

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August 2007

Four OGAWA massage chairs were donated to elderly care homes, they are Little Sisters of The Poor and Rumah Orang Tua Ampang, Rumah Seri Kenangan Bedong and Rumah Seri Kenangan Cheras. We have continuously contributed donation in cash and kind to the National Society of Deaf to support their survival and development. We would like to offer our support to these overlooked communities and nurture leaders among them, so that they can speak for themselves and make their own decisions.

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SENIOR CITIZEN FREE SCREENING AT GSC CINEMAS

A free screening for Senior Citizens was held on 18 June 2013 at 4 Klang Valley locations and 3 outstation locations. Over 1,400 free seats were up for grabs for the screening of “IP MAN: The Final Fight”. Senior Citizens were treated with light breakfast together with a free health check and a goody bag giveaway. All this were made possible with our valued partner from Pantai Medical Centre, Focus Point, Nestle, Milo, Spritzer, Ogawa and Julie’s.

Tuesday, June 18, 2013

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3.0 PRODUCT CONCEPT

3.1 COMPANY’S PRODUCT

“Healthy?? No border anymore!!”

“THERAPY WATCH”

FOR MEN

FOR WOMEN

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AVAILABLE COLOUR

MAROON BLACK SILVER

RM 249.99

AVAILABLE COLOUR

WHITE PINK TURQOISE

RM 249.99

MAIN FUNCTION:

HELP KEEP OUR BODY HEALTH

THE OTHERS FUNCTION:

Alarm Azan alarm To-do List Torchlight Compass Calendar Kiblat direction Audio recorder Camera

WE CAN WRITE DOWN NAME ON IT !!!!!

THE MATERIAL AND FUNCTION

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3.1.1 THE FUNCTION, MATERIAL AND OTHERS USER OF THERAPY WATCH

NORMAL WATCH, BUT HAVE AN MORE ADVANCE USER SUCH AS CAMERA,CALCULATOR, CALENDER, ETC.

THERAPY WATCH HAS BEEN BORN

NEGATIVE ION, MAGNETIC,

FIR (FAR INFRA RED)

Just like others watch Therapy Watch also is the watch that we see a clock to know what time is now. But the main reason we produce this product is to give us a healthy life, everyday. We always give an excuse that we are busy, don’t have time and more when it’s come about health. Therapy Watch has been design to give us a more healthy body even we are busy.

Inside the Therapy watch, there is a Negative ion, FIR (Far Infra Red) and Magnetic as a main material uses to be the basic of Therapy Watch.

Negative ion will sorting, filtering and repair cells. Increase the rate of cell metabolism that has positive effects on the blood, appetite and nervous. Promoting neural activity of the brain, restoring cells, increasing antibodies against the disease, and reduce pain. Also help to increase energy and strength through endorphin production.

FIR (Far Infra Red) will vessels expand, blood flow and vascular capillary and oxygen diffusion and to facilitate the removal of toxic waste from the blood. Through this process, it can stabilize blood pressure, reduce the debris and coordinate joint pain nerves to boost immunity, reduce fatigue and insomnia. FIR also helps improve liver function, increase metabolism and remove waste from the body that can lead to weight loss. It also solves the problem by repairing the skin PH balance of the body.

There are many advantage of using a magnet. Magnetic is a substance that produces a form of energy called magnetic fields. Flow of the magnetic field produced naturally in the body from the charges of ions in and out of cells, and the flow of electrical energy Impulse, through the cell membrane. Because blood contains ion, it serves as a conductor of the magnetic field to increase the flow of oxygen and nutrients to the tissues of the body, neck, chest pain, headaches, insomnia and stress. Magnetic therapy is a health supplement non- invasive manner is important.

Others function that Therapy Watch gives is have users such as alarm, azan alarm, calculator, To-do List, torchlight, compass, calendar, kiblat direction, Audio recorder and Camera.

14One of the reason why we want to produce Therapy Watch.

( ? : - هذه - ما فقال صفر من حلقة يده في رجال رأى وسلم عليه الله صلى النبي أن : ما: عليك وهي مت لو فإنك وهنًا، إال تزيدك ال فإنها انزعها قال الواهنة، من قال

أبدًا أفلحت Maksudnya lebih kurang: “Bahawasanya Nabi saw telah melihat seorang lelaki di tangannya ada gelang daripada tembaga, Nabi saw bertanya: “Apakah ini?” Orang itu menjawab: “ianya daripada al-Wahinah.” Sabda Nabi saw: “Tanggalkannya segera, sesungguhnya dia tidak menambahkan kepadamu melainkan kelemahan, sesungguhnya jika kamu mati dan gelang itu ada padamu, kamu tidak akan berjaya selama-lamanya.”)

Others product, that has been produced by Ogawa Company.

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3.2 TYPE OF CONSUMER PRODUCT

“PRODUCT IS THE HEART OF MARKETING”

Consumer product is a product bought to satisfy an individual’s personal needs or wants. There are four types of consumer product. All of OGAWA products are in shopping product category. Shopping product is a product that requires comparison shopping, because it is usually more expensive and found in fewer stores. Therapy Watch also Shopping product.

3.3 PRODUCT ITEMS, LINE AND MIXES

Therapy Watch a new product in additing to existing product line categories.

PRODUCT ITEMS: Relaxation, Therapeutic, Fitness, Diagnostic, Hygience and Beauty.

PRODUCT LINE:

RELAXATION: Smart Crest, Smart Delight Plus, Smart Delight, Smart Space XD Tech, Massage Cushion (Large), Massage Cushion (Medium), Massage Cushion (Small), Smart Sense Trinity 3D, SmartAire 3DPlus, SMART MATE, Estilo Lux, Mobile Seat NE, Mobile Seat XE, S-300 Hand-held Massager, AccelTouch, and ComfyzzZ Series.

THERAPEUTIC: Foottee Therapy, Tune Therapy, Foot Master and THERAPY WATCH.

FITNESS: Handheld ezTone, Inspire B3, ezTone, ezTrim, ezShape, ezLoop and ezSlick.

DIAGNOSTIC: Arm Blood Pressure Monitor and Ergo Master.

HYGIENCE: Bio Mizzle, Revitalisor, Air Purifying Concentrate, Solutions and Aura Mate.

BEAUTY: Unique Shine and Unique Spring.

PRODUCT MIXES: Smart Crest, Smart Delight Plus, Smart Delight, Smart Space XD Tech, Massage Cushion (Large), Massage Cushion (Medium), Massage Cushion (Small), Smart Sense Trinity 3D, SmartAire 3DPlus, SMART MATE, Estilo Lux, Mobile Seat NE, Mobile Seat XE, S-300 Hand-held Massager, AccelTouch, and ComfyzzZ Series, Foottee Therapy, Therapy Watch, Tune Therapy and Foot Master, Handheld ezTone, Inspire B3, ezTone, ezTrim, ezShape, ezLoop and ezSlick, Arm Blood Pressure Monitor and Ergo Master, Bio Mizzle, Revitalisor, Air Purifying Concentrate, Solutions and Aura Mate and Unique Shine and Unique Spring

Therapy Watch in a THERAPEUTIC category.

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4.0 MARKET SEGMENTATION

Market segmentation is the process of dividing a market into meaningful, relatively similar, identifiable, segments or groups. We must substantiality, identifiability & measurability, accessibility and responsiveness.

4.1 TYPES OF SEGMENTATION

There are five types of segmentation. There are Geography, Demographics, Psychographics, Benefits Sought and Usage rate. We will use a Demographics and Psychographics factors.

4.1.1 DEMOGRAPHICS FACTORS

Dividing the market based on demographic (human population) variables. By age, we can divide into four categories, teen, generation x, generation y and baby boomers. Teen, age between 13 - 18. Generation Y, age between 1977 - 2000. Generation X between 1965 - 1976 and Baby boomers between 1946- 1964. For Therapy Watch our main target are Generation X, Y and Baby Boomers.

Male and female consumers differ in the types of goods they use. Thus, we used this type of segmentation. Our Therapy Watch will have two versions for women and men.

Income is popular demographic variable for segmenting markets. Income level has high influence on consumer’s needs and wants and it determines their buying power. We target wealthy consumers especially to buy Therapy Watch.

Family life-cycle (FLC) segmentation. FLC is a series of stages determined by a combination of age, marital status and the presence of children. Even though people are of the same age and gender, sometimes their needs and wants differ because they are in different stages of the FLC. Therapy Watch will cater to consumers with unique and distinctive advantages. So it will have some uniqueness to suit every stage of the family life cycle.

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4.1.2 PSYCHOGRAPHIC SEGMENTATION

We have chosen this type segment that divided buyers into different groups based on social class, lifestyle or personal characteristics.

Based on the personality, it reflects a person’s traits, attitudes and habits. Therapy Watch is come in interesting design and can match with customer personalities.

Motives relate to the force that causes people to take certain action. Therapy Watch can make our daily life healthy and save time.

Lifestyle segmentation divides people into groups according to the way they spend their time, the important things around them, their beliefs, income and education. Therapy Watch make people interest in several of this products that influenced by their lifestyle and the goods they consume would also express their lifestyle.

Geodemographic segmentation divides customers into neighborhood lifestyle categories that combines geographic, demographic and lifestyle segmentation. This segment will help us to develop programs for potential consumers who live in small geographic regions, such as neighborhood, where the people have specific lifestyle.

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4.2 STRATEGIES FOR SELECTING TARGETING MARKETS

4.2.1 MULTISEGMENT STRATEGY

Therapy Watch strategies are multisegment strategy that chooses two or more well-defined market segment and develops a distinct marketing mix for each selected segment. Therapy Watch created and come in different types, for men and women.

4.3 POSITIONING

4.3.1 POSITIIVE

Therapy Watch is a good for our health, suitable for all ages, save time, and have many functions that can make our daily life easy.

4.3.2 POSITIONING BASES

4.3.2.1 ATTRIBUTE

Is the product features or benefits associated with the product. Therapy Watch is a watch that designed in a stylish design. Our product is flexible, light and interesting, and can attract customer to buy our product.

4.3.2.2 USE OF APPLICATION

Some products are positioned in the consumer’s mind by the numerous ways of how to use or apply the product. Therapy Watch will use advertisement such as television, newspapers, radio and etc. To make customers attract and interest with our new product, Therapy Watch that will produce to the market.

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5.0 Channel Structure

5.1 Type of Marketing Channel

5.1.1 Direct Channel

Consumers can buy Therapy Watch from OGAWA Internet Web site. Direct Channel is a distribution channel, in which we sell directly to consumers, where there are no intermediaries. This type of channel structure are direct marketing activities such as telemarketing, mail-order, and catalog shopping, on-line shopping and shop-at-home television networks.

5.1.2 Agent/broker channel

We use an agent / broker channel for Therapy Watch. Agent or broken channel is a channel where agents or brokers bring manufacturers and the wholesalers together for negotiations, but these agents and brokers do not own the products. Therapy Watch pass directly to the wholesales and then to the retailers, and finally the retailers sell the products to the consumer.

5.2 Levels of distribution intensity

5.2.1 Selective Distribution

A form of distribution where we choose only a few to distribute of Therapy Watch. As only a few dealers are chosen, the consumer must search for our product. This type of distribution gives us more control and less cost, as well as maintaining a superior product image so we are able charge a higher price.

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5.3 Retailing

5.3.1 Type of store 5.3.1.1 Department Stores We choose department stores as one of our types of store to put in Therapy Watch, based on certain reasons. Department stores consist of several departments under one roof and carry a wide variety of shopping and specialty goods. Purchases are made within each, individual department and not at one central on main checkout point. Each department is headed by a buyer, the department head who selects the merchandise for his department and is responsible for promotion and personnel.

5.3.1.2 Specialty stores

We also choose a specialty store because of certain reasons. A store that specializes in a given type of merchandise that caters for a specific target market, a specialty store carries a narrower but deeper assortment of merchandise, emphasizing distinctive product and a high level of customer service. This type of store a suitable with Therapy Watch.

5.3.2 Non store Retailing

5.3.2.1 Electronic Retailing

It is also called e-retailing or on-line retailing. Online retailing allows consumers to search for Therapy Watch, evaluate and order products through the Internet. The advantages are consumers have 24-hour access, able to make comparison and shop from home. Television home shopping allows consumers to watch a shopping channel on which Therapy Watch are displayed and they can order through the telephone.

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6.0 PROMOTION

6.1 PROMOTION STRATEGIES

6.1.1 ADVERTISING

We use advertising because it is an impersonal, one way mass communication about our product “Therapy Watch” that is paid for by a marketer to promote our new product to the consumer. The space for the advertising message normally must be bought except the public service announcement where the advertising time or space is donated.

6.1.2 PUBLIC RELATIONS

We use Public relations because the marketing function that evaluate public attitude, identification area within the organization the public may be interested. We can use some of the public relations tools like special events, lobbying efforts and press conferences to promote Therapy Watch.

6.2 ADVERTISING (MEDIA TYPE)

6.2.1 TELEVISION

By using television, we able to reach a wide and diverse audience. The entertainment is one of the most advertising nowadays. We believe by using these types of ads, we can promote our Therapy Watch.

6.2.2 NEWSPAPERS

By using these types of advertising the advantages, geographic selectivity and flexibility. Short term advertiser commitments. We also believe, by using newspapers we can promote our product widely.

6.2.3 RADIO

We also choose radio as one of our advertising types because it is low cost, message can be transmitted immediately. By these types of advertising, we also confident that it will spread widely about our new products.

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6.3 PUBLIC RELATIONS-MAJOR TOOLS

6.3.1 NEW PRODUCT PUBLICITY

Publicity is very important when we want to introducing new products such as Therapy Watch. Publicity helps us explain what is different about Therapy Watch by encouraging free news stories or positive comments made by the public. We can write press releases or develop videos to generate news about Therapy Watch.

6.3.2 PRODUCT PLACEMENT

We use product placement which will getting our new products “Therapy Watch” to appear in a movie, television show, radio program, newspapers and commercial for another product, on the internet or during special events. It is used to reinforce brand awareness and create favorable attitudes among the public.

6.3.3 INTERNET WEB SITE

We are using the internet in our public relations strategies. We use our website to introduce Therapy Watch, obtain consumer feedback, post new release, communicate information and many marketing activities. The feedback from online consumers will influence other consumers in making their decision.

6.4 SALES PROMOTION

6.4.1 LOYALTY MARKETING PROGRAMS/FREQUENT BUYER PROGRAM

We give to our loyal consumer that has been buying from our company any others product above RM1500, will get a 20% discounts for Therapy Watch. By using this, we can encourage consumers to purchase our company products while, they will get a discount for Therapy Watch.

6.4.2 COUPONS

Certificates given to the consumers entitling them to immediately price reduction when they purchase item. We will mail the coupons through CEO Magazines and a certain magazines that we choose only.

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7.0 PRICING

7.1 PRICING OBJECTIVES

7.1.1 SALES ORIENTED

We choose sales oriented as our pricing objectives to Therapy Watch product because it is suitable for our product.

7.1.1.1 MARKET SHARE

Market share is quite important for our company. Our company can makes as a percentage of the total sales in market. Larger market share often mean a higher profits. Our company can achieve a high market share by setting low price. To get higher profit, we will produce more Therapy Watch for sale in the industry.

We will market Therapy watch to all consumers with reasonable price to attract customers to stick to our products. That’s mean we need to stolen and make consumer interested with our products. We have to attract consumers from others company to become as a loyal customer for Therapy Watch.

7.1.1.2 COST DETERMINATION OF PRICE

7.1.1.2.1 KEYSTONING

We will set the prices at 100% more than the cost price or doubling the cost. We choose this determinant because Therapy Watch is the first watch that has been produced as the function for our healthy.

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7.2 PRICE STRATEGIES

7.2.1 PRICE SKIMMING

Price skimming where a high introductory price is charged that skims to the top off a market in which there is inelastic demand. A high introductory price, often coupled with heavy promotion of capture that high income users. The high introductory price attracts a smaller market share but recoup costs quickly.

We use price skimming as our strategies. As we know, there’s no more watch for health that has been produced by any company at all. Therapy Watch will suitable with this strategies.

7.3 PRICING TACTICS

7.3.1 ODD-EVEN PRICING (PSYCHOLOGICAL PRICING)

Pricing at odd numbered prices to imply bargain. We put our Therapy Watch price at (RM 249.99). And even-numbered prices to imply quality (RM 250.00).

7.3.2 TWO-PART PRICING

We offered Therapy Watch at RM 249.99. But not including with the service, whether customer want to write name on it.One of the different of Therapy Watch. Customer can write their name on the Therapy Watch. This special feature comes with different cost. If customers want to write down their names or anyone names, they need to add on RM40.00 for this service.

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8.0 CONCLUSION

8.1 ACHIEVEMENTS

As in the beginning we have several objectives for this new product and this assignment.

Finally, we introduce our new product to the world. Also known how we need to put in our product to the market. We are the first company, make this product and want to lead the market. We can increase our company sales, image and so on

We expect from this assignment many things from this assignment. We learn and more understand about marketing mix. We able use the marketing mix into our assignment well. We improve our knowledge about MKT 243.

We also learn how to work as teamwork. It’s quite difficult, but we already pass the obstacle. We learn one of an important thing in our life.

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8.2 LIMITATION

Limitations of study means a problem that we faced during make this assignment. During we carry out assignment given by our lecturer namely Madam Rafidah Abdul Azis, there are some problems we have to face to solve this assignment which is in terms of difficulty on obtaining the cooperation from time, transportation and cost.

8.2.1 TIME

Time is our enemies. We are having a certain difficult to finish this assignment faster, due to the many quiz and test from many others subject that we have to finish up. However, with our lecturer guides we have enough time to finish this assignment.

8.2.2 TRANSPORTATION

Transportation also became our limitation while finishing this assignment. All of us don’t have any transportation. It will difficult for us to meet and make assignment together. We are need to walking. Only one of us have a transportation.

8.2.3 COST

While doing this assignment, we also faced with financial problem. We need to printing and binding this assignment. We also need to spend in petrol for motorcycle.

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8.3 LEARNING EXPERIENCE

From this assignment we learn more how to work in a team. Our groups have five members. Three of us are women, while two of us are men. All of us have a different personalities, characters and attitudes. Thank you to ALLAH ALMIGHTY, all of us are working together to finish this assignment. Without any attitudes problem. Even we faced many obstacles or limitation, we finally can finish this assignment.

We also know more about the marketing mix, which is 4 P’s. We also finally more clear about this concept. We also have many arguments when we want to decide the product that we choose. However it is, we finally make one decision without any arguments. From this, we learn how to handle this problem for the future.

There are many of experiences we got while doing this assignment. The leadership are the most important in certain assignment like this. Without a good leadership, time management and more, we can’t finish this assignment in the time given.

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9.0 REFERENCES

MKT 243 Books

http://www.ogawaworld.net/corporate/index.php

http://www.ogawaworld.net/store_locator/melaka.php

http://www.ogawaworld.net/ourproducts/fitness/

http://www.ogawaworld.net/ourproducts/therapeutic/Foottee/Foottee.php

https://www.google.com.my/?gws_rd=cr,ssl&ei=ZwcVVI6TF8HbuQSNmICADw#q=OGAWA

https://www.google.com.my/?gws_rd=cr,ssl&ei=ZwcVVI6TF8HbuQSNmICADw#q=ogawa+product&revid=93405825

http://www.citibank.com.my/english/docs/pdf/promotions/parentsday2013/allproducts.pdf

https://www.google.com.my/search?q=ogawa+product&sa=X&biw=1366&bih=667&tbm=isch&tbo=u&source=univ&ei=dg4VVJn2KMaHuATZhIDICQ&ved=0CGkQsAQ

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10.0

APPENDIX

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