comparative analysis - slides
TRANSCRIPT
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A Comparative Analysis of 2 Businesses of Similar Industry in
Different Geographical Locations
Pang Khai Shuen 0318423
Lee Ren Jet 0319058
Ng Yi Yang 0319688
Hor Weng Lim 0319441
Felix Vong Zhi Wei 0318462
Tan Jia Yi 0319476
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THE OPTOMETRIST
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HISTORY OF THE OPTICAL TRADE
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MI-WAH SUPERIOR OPTICAL CENTRE SDN. BHD.
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Owner:
Mr. Mah Kin FattAge: 53Contact number: 0163831330
Years in the Optical Trade: 28
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MI-WAH SUPERIOR OPTICAL CENTRE
• Opened: – May 1998
• Current Location: – Lot 2037, 2nd Floor, Endah Parade, Taman Sri
Endah, Bandar Baru, Sri Petaling, 57000 Kuala Lumpur
• Reasons of starting the business:– Mr. Mah had the right skills.– The profit.– An easy market to enter.
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MI-WAH SUPERIOR OPTICAL CENTRE
• Total customers:– About 1000
• Average customers per day:– 2 to 3
• Yearly revenue:– Around 300 thousand ringgit per annum.
• Employees:– No employees.
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TEO OPTOMETRY SDN. BHD.
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Owner:
Ms. Teo Sock HoonAge: 43Contact number: 07-6863236
Years in the Optical Trade: 28
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TEO OPTOMETRY SDN. BHD.
• Opened: – 1997
• Current Location: – 30, Jalan Bakek Jaya 1,Taman Bakek Jaya,
82000,Pontian, Johor.
• Reasons of starting the business:– Ms. Teo wanted to start a business of
her own.
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TEO OPTOMETRY SDN. BHD.
• Total customers:– About 4000
• Average customers per day:– 15 to 25
• Yearly revenue:– Around 720 thousand ringgit per annum.
• Employees:– 3 employees.
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COMPARATIVE ANALYSIS OF BUSINESSES’S COMPETITIVE TRAITS
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Number of competitors
Business A
• 3 competitors
Business B
•3 competitors
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Business A - Competitor 1
Shop: OptimalOwner: AndyBusiness started: Year 2012Branches: 14
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Business A - Competitor 2
Shop: Optical PointOwner: Mr. NgBusiness started: Year 2010Branches: none
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Business A - Competitor 3
Shop: Vision BrightOwner: David ChanBusiness started: Year 1998Branches: 4
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Business B - Competitor 1
Shop: The VisionOwner: Mr. Ng Peng Hua Business started: Year 2007Branches: 10
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Business B - Competitor 2
Shop: You & EyesOwner: Irene TanBusiness started: Year 2008Branches: 3
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Business B - Competitor 3
Shop: Eye BoxOwner: Terence Tan, Grace TongBusiness started: Year 2009Branches: None
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Strategies of business
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Business A• Good Service• Decrease overhead & prices of products• Regular customers
Business B•Recommendation of customers•Emphasis on vision care•Regular customers•Bring in high technology machines.
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Zeiss Machine for I-terminal dotting
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Obstacles Faced by New Businesses
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•Quantity of demand is low due to the low density of population in the area
•Due to competitors around the area as customers will make comparison of the price of product
•Hard to achieve economies of scale
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Monopolistic Competit ion
Nature of Market
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Characteristics of monopolistic competition
•Contains large number of small firms
•Many competitors, each one sells slightly different products.
•Each firm makes independent decisions about price and output, based on its product, market, and costs of production.
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Recommendation
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Business A
• Move the business to a location more accessible by people
- acquire new customers
• Purchase more advanced equipment
- provide better spectacles
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Business B
• Open up branches
- increase sales and customers
• Make more advertisements about their machines
- attract more customers
- gain trust with sophisticated technology
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