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Market Analysis Japan

2721 words - 11 pages

Economic Strength:
Japan is the 2nd largest economy based on gross domestic product which stands at $34,000.00 per capita. The unemployment rate is one of the lowest at 4%.
This indicates that there is a good standard of living, most of the population are employed, thus the population has disposable income and can spend on luxury items such as sea-doos. Japan has a strong currency which trades 1 JPY for 0.121 CAD. The economic stability and strong currency provides a sound investment platform for global businesses.

Target Market Size:
Japan has an overall population of 127,078,679. 64.3% of the population are between the ages of 15 to 64, which incorporates our target market age ...view middle of the document...

Seeing that the Sea-Doo is a durable good, this upward trend is reassuring.

Communication & Media:
Communication & media is very advance and reaches a wide audience in Japan. All channels of media are available for advertising. Japan has excellent domestic and international telephone service for both landline and mobile phones. They provide both television and radio broadcast as well as hold the # 2 rank in the world for internet hosts and #4 rank in the world for Internet users. There are over 88 million internet users in Japan. Japan also has a variety of magazines and newspapers.
Channel of Distribution:
Distribution channels in Japan are very different from our own. The system is characterized by multiple layers of wholesalers who have developed close, personal relationships with other wholesalers, manufacturers, importers, and retailers. These intimate relationships serve as an informal barrier to companies wishing to sell directly to end-users or retailers. In many product sectors, it is almost impossible for the manufacturer to sell in volume directly to the retailer or end-user. Thus it becomes imperative that the market entry option is done through a strategic alliance.
Target Market Profile:
The primary target audience for Bombardier Sea-Doo is males, from 25-50 years old with an annual income of $40,000 plus.
The secondary target audience is females, from 25-40 years old with an annual income of $40,000 plus.
Purchase Patterns:
The decision to purchase may be motivated by driving by dealerships, going to a dealership because of a friend’s recommendation, or taking a ride on a friend’s machine. Brand loyalty plays an essential role for Sea-Doo because there is not only repeat business, but the satisfied customers are influential to sales by word of mouth.
Purchasing a Sea-Doo is a large investment and therefore the consumers often take more time to make an in depth decision.
Demographic changes such as rapid rise of aging population and birthrate fall, as well as the wide use of Internet and cellular phones have had a dramatic impact on consumer behaviour and purchasing patterns often conceptualized in three stages:awareness, interest and purchase of products/ services.
One of the biggest factors is word of mouth (WOM). It has huge influence on consumers and is the ultimate personalized media. WOM is a determining factor for success in marketing.
Under this circumstances, we carried a survey and figured out how much WOM
influences on consumers’ communication. This analysis is based on
/Tsuzumi*/ model, which explains the relation between WOM and media.
*Tsuzumi is a Japanese classic drum with a unique shape. The percentage of purchasing was influenced by WOM was 76.4%. It increased from 61.3% of 2005 to 76% in 2007.
2. Two biggest information source of WOM was “words from friends/neighbors” and “TV.”
http://www.kokokusha.com/pdf/relationbetwomandmassmedia.pdf
Japanese
social norms, based on Confucianism, have long...

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