Market Visit: IKANO Power Centre, Damansara
Title: Corporate/Market Visits to Ikano
Group Members: Muhamad Tarmizi bin Abd Rahim
Lim Min Siang
Nur Sai’I binti Aznan
Facilitator Assisting: Dr. Greg, Ms. Shafiya and Ms. Sharlene
a) Executive Summary
On 5th Disember 2009, we have a market visit at Ikano. Our task is finding products that have a high potential to enter the global market. After a few survey, we decided to choose ‘Air Vitamin’ which is under health category. The product’s market is wide because this product is suitable for all range of age.
b) Product Choice
The Product was attracted to us just by looking at its name. The product was newly introduced to the market and named “Air Vitamin”. MGT Air Vitamin (M) Sdn. Bhd., a Malaysian base company which launched this product that has great market potential. The choice of product is decided mainly because the device is totally Malaysian made product which helps to improve the body immune system by just breathing by the air product by this device.
c) Detailed of the product
MGT Air Vitamin® G-10 is a medical device (approved by the Ministry of Health, Malaysia), to protect our body immunity from reduce, due to virus, bacteria, fungi, toxin & others microorganism surrounding us. It helps and works as our “Body Immune System” externally to protect us against viral & bacterial infection, etc. It is an ideal "partner" for our 'Body Immune System' to work hand in hand in order to let our body to have enough time for a total rest and "charge up" our Body Immune System to its "maximum level" It is a necessity product particularly for this modern generation in order to maintain our healthy, comfortable, and happier lifestyle.
The market segmentation for the product is to all range of people within the age, status or education. It is because the product is new so the market segmentation is now only focus on the higher class people who can buy this product. After the few coming month, the other will tend to buy this product.
d) Proposed Strategy for Global Launch
According to the manager that we interview, he said that this is the first non-eating vitamin product in the world. So, this product has a high potential in order to enter global business. This company should do a market research for the global which they can make a target, for example, “one home, one air vitamin”. This is because this product is suitable for all range of age.
The strategy of marketing can be expanding within not only advertisement in the newspaper but in the television as well. The product also can be placed in the hypermarket and they can build are warehouse due to the increased of product. They can also collect data from their customer in Malaysia and analyze it as a proof for the global customer in order to gain customer’s trust for their product. Since this product has been used in Istana Negara, they can use this opportunity to advertise how well their product is.
These market visits are quit challenge in order to find the person that agree to cooperate with us. It’s a valuable experience because we have an experience to build self confident with courage from group members and at the same time we try to apply the skill that we have learn such as how to approach people, negotiation and so on. We also have a chance to know more about Ikano which is most of the shop at Ikano are from Singapore.
The task was carried by the effort of three members including Nur, Mizi and Lim working hard to gather the information required. Fortunately, Mizi who acts as “walking encyclopedia of Malaysia Products” direct us to the correct outlet which helps to save lot of time. Remarkably, thanks to the politeness of Nur during the interview session, the company or outlet’s manager was actually very excited and helpful in order for us to complete the assignment.
Never forget, Lim who recorded every details and information accurately and trigger more question during the interview did contribute to the overall progression. Before we start searching for the correct target outlet, we have discussed and compromised to look for product provider instead of service. Hence, with well planned and strategic, we were starting from furniture store, moving to musical instrument and finally reached “Air Vitamin”. With humble and proper courtesy, we approach the entire interview easily and the task was divided among three of us according to the informative, diplomatic and recording ability. This is how the work complete successfully with all of us achieved synergy.