This section will be going to highlight about research and analysis of target market
This section will be going to highlight about research and analysis of target market, competitors, and competitive advantage. A good business always looked up to their current market situation in order to meet the needs and wants of consumer. It also represents the size and growth trends of the market. All these elements have to be full filled by a business so that they can survive in the market.
Popular creates its popularity by making sure that it is seen and heard by people and that its existence is known. By strategically positioning itself in most shopping centers, and adding on its attractive bright red signboard that is displayed on the entrance of each of its bookstore, Popular is hard to miss when one goes on a shopping trip in a neighborhood shopping center. It targets people from almost various ages, family size, and income. With high ceilings lined with bright white lights and spacious walking areas, customers are given an “open” sense of feeling whenever they step into a Popular Bookstore. As it provides a whole range of value-for-money products, one is almost guilt-ridden to step in and leave the place without buying anything. With properly trained and uniformed staff always ready to provide assistance. To capture a wider section of the mass market, Popular has also wisely positioned itself in schools. Equipped to cater for all necessary school needs including a tidbits section where most students are awed and delighted to have, these Popular outlets bustle with life every school day. It has become a second of home of sorts to many students.
Though Popular offers some business and information books meant for working adults which are key product of its competitors such as Kinokuniya, Borders and Times, its target market differs. Rather than having a strong focus on the upscale reading market segment, Popular’s main target market segment comprises families and students. Popular may not have as wide variety or depth in terms of the number and range of books for working professionals and executives, but it is certainly able to differentiate itself from Kinokuniya and Borders by offering something they do not and that are textbooks and assessment books. Every Popular Bookstore has a large section of such books, specially catered to the needs of school students. Being one of the few bookstores that sell these books, it is a popular choice among students to buy their school books from. Along with the section of school books come another that holds novels, guide books and business books which, although may be limited, are able to cater the needs of parents accompanying their children on their visits to buy school books.
A housewife commented that “Popular is the best place to get English and Chinese books for Primary School students as well as stationery. Popular also has even become a very attractive escape avenue for husbands to hang out while their wives shop for groceries due to their locations are so convenient and the range of products that are so appealing. To tantalize and cater to the needs of its customer, every Popular Bookstore has a very well-equipped and mouth-watering stationery section. With a whole range of pens, pencils, markers, notebooks, files and other office or school needs all priced reasonably, this appeals to everyone from students to working adults and housewives. Furthermore, customers are allowed to freely test out pens and markers to find ones that they are satisfied with. It is then not surprising that Popular became most preferable place for almost every student. It’s almost like a ritual and custom that every school child will visit a Popular store especially before new school term starts