1. A brief overview of Seremban
According to the website (Britannica.com, 2019), Seremban is a town, and it is also a capital of Negeri Sembilan, Malaysia. It is a small town which is run and operated by the administration, the Seremban Municipal Council. However, it was on the era of 9 September 2009, that the town Seremban was declared and finally addressed as a city. In the later period, it was deferred due to technical reasons. The town is in the trending topic of discussion as the motive to grant the town as the city has again stood up. It is predicted that y the ear of 2019 the town Seremban will be a city again.
It was founded by the
Sungei Ujong (or Sungai Ujong). It is being named after the river which is
addressed by the same name. Sungei Ujong (or Sungai Ujong) was a well-known
priest within the town. The Seremban town is one among the four state capitals
that have still not able to achieve the status of city (Bandar-Raya). The other
three are Kota-Bharu (Kelantan), Kuantan (Pahang), and Kangar (Perlis).
Location:
It is located within Seremban District.
4A’s Audit
According to this theory, there are four parts that lie within this theory, they are as Acceptability, Affordability, Accessibility, and Awareness (Books.google.co.in, 2019).
Under Acceptability there come two sub-parts, they are as Functional and Psychological Acceptability.
Functional acceptability stands for “objective” performance attributes of a product or service. Does the product have the features that customers in the target market expect? Is it reliable? Does it perform as expected?
On the other hand, Psychological Acceptability stands for subjective related attributes of a product or services.
Seremban Acceptability- Taking into consideration the property outlook for Seremban, it is stable at the present phase of time. On the other hand, it is expected to be rosy within the medium-term as it leverages on various upcoming major infrastructure projects and developments.
However Seremban’s location as part of the Malaysian Vision Valley (MVV), the Kuala Lumpur-Singapore High-Speed Rail Project (HSR) and its connectivity by means of various expressways and the expected upcoming highways are primary reasons that the well-known real estate experts, professional and developers estimate that it is only a matter of time that before the price of the property will rise in the state capital and within its surrounding areas.
Seremban Affordability both economically and psychologically- The town has land banks of nearly 1000 acres which is located all over the Negeri Sembilan to hop in within the major residential, commercial, and industrial development, as well as sea front resort, styled development in Port Dickson. In order to penetrate another market there is a requirement to understand the willingness of the consumers to pay for the consumption of the commodity. Satellite town Seremban 2, the town has been enjoying healthy capital formulation since the era of 2011. The prices of real estate properties within Seremban 2 has been growing at 15% to 20% on a yearly basis. It is because of the new segment of the houses as introduced in the economy that has new higher price segment. Speaking about the garden Home Units, it is 22ft by 70ft, they cost RM 100,000 in 2011, but now they are RM 150,000, a 50% appreciation in three years.
Seremban Accessibility- Taking into consideration the accessibility structure of the consumer market it seems like the market is operating on a Niche Marketing system. The consumers market is at a peak since the region is at a growing phase. There is a lot of business that is being generated within the region. As such that new markets are taking place. On the other hand, the consumer market is willing to pay for the product or commodity since the income potential is at growth in the individual’s consumers of the market. The rise in the individual’s income potential is due to the economic growth of the region.
Seremban Awareness- Since at the early phase of the time the region was lacking much of the economic growth which did not allow any new markets to enter the region or to form. But with the pace in the market new products are taking place. However, the consumer market is not much aware of every consumer products. Neither the consumer is aware in regard to the knowledge of the product nor about the new brands that are entering the market. Hence, there lies a greater opportunity for the new entering firm to generate brand equity along with brand loyalty. On the other contrary, since the consumer market is new, it will take some point of time for the consumer market to develop its consumption pattern. However, there also exists a risk for the new entering firms such that if the market fails to satisfy consumers, the rival brands may acquire a positive preference over the existing brands, which affect may be within the market for a longer period of time.
Destination product Analysis
According to the Henry Butcher Malaysia (Negeri Sembilan) director Siew-Weng, Hong tells FocusM that in comparison to the year of 2016, 2017, and that of 2018 there will be huge growth within the sub-sectors such as that of agriculture, andreal-estate property as compared to that of the commercial and industrial land.
As proposed by the Real Estate and Housing Developer association Rehda, Negeri Sembilan chairperson Jenny Wang Lee Peng feels that the property market within the town of Seremban will continue to be stable (Britannica.com, 2019).
Figure: Housing Price index, 2019
Source: (TradingEconomics, 2019)
| Participant ID | 1.1 What is your age? | 1.2 What is your nationality? | .3 What is your gender? | ||||||
| N/A | 18-19 | 20-22 | 23-24 | 25-34 | Other | Male | Female | Other / prefer not to say | |
| Group 1 | 1 | Ghanaian | 1 | ||||||
| 2 | 1 | Indian | 1 | ||||||
| 3 | 1 | Nigerian | 1 | ||||||
| 4 | 1 | British | 1 | ||||||
| 5 | 1 | British | 1 | ||||||
| 6 | 1 | British | 1 | ||||||
| 7 | 1 | British | 1 | ||||||
| 8 | 1 | British | 1 | ||||||
| 9 | 1 | British | 1 | ||||||
| 10 | 1 | British | 1 | ||||||
| 11 | 1 | British | 1 | ||||||
| 12 | 1 | British | 1 | ||||||
| 13 | 1 | British | 1 | ||||||
| 14 | 1 | English | 1 | ||||||
| 15 | 1 | British | 1 | ||||||
| 16 | 1 | British | 1 | ||||||
| 17 | 1 | Bulgarian | 1 | ||||||
| 18 | 1 | Filipino/Spanish | 1 | ||||||
| 19 | 1 | Filipino/Spanish | 1 | ||||||
| 20 | 1 | British | 1 | ||||||
| 21 | 1 | Polish | 1 | ||||||
| 22 | 1 | British | 1 | ||||||
| 23 | 1 | British | 1 | ||||||
| 24 | 1 | English | 1 | ||||||
| 25 | 1 | British | 1 | ||||||
| Group 2 Participant 1 | 1 | Mixed Carribean | 1 | ||||||
| Participant 2 | 1 | British | 1 | ||||||
| Participant 3 | 1 | Australian | 1 | ||||||
| Participant 4 | 1 | New Zealand | 1 | ||||||
| Participant 5 | 1 | Italian | 1 | ||||||
| Participant 6 | 1 | British | 1 | ||||||
| Participant 7 | 1 | Nigerian | 1 | ||||||
| Participant 8 | 1 | British | 1 | ||||||
| Participant 9 | 35/44 | British | 1 | ||||||
| Participant 10 | 1 | British | 1 | ||||||
| Participant 11 | 45/54 | British | 1 | ||||||
| Participant 12 | 1 | British | 1 | ||||||
| Participant 13 | 1 | British | 1 | ||||||
| Participant 14 | 1 | British | 1 | ||||||
| Participant 15 | 1 | British | 1 | ||||||
| Participant 16 | 1 | British | 1 | ||||||
| Participant 17 | 1 | British | 1 | ||||||
| Participant 18 | 1 | British | 1 | ||||||
| Participant 19 | 1 | British | 1 | ||||||
| Group 3 Person 1 | 1 | British | 1 | ||||||
| Person 2 | 1 | British | 1 | ||||||
| Person 3 | 1 | British | 1 | ||||||
| Person 4 | 1 | Nigerian | 1 | ||||||
| Person 5 | 1 | British | 1 | ||||||
| Person 6 | 1 | 1 | |||||||
| Person 7 | 1 | Canadian | 1 | ||||||
| Person 8 | 1 | British | 1 | ||||||
| Person 9 | 1 | British | 1 | ||||||
| Person 10 | 1 | Italian | 1 | ||||||
| Person 11 | 1 | Nepalese | 1 | ||||||
| Person 12 | 1 | Italian | 1 | ||||||
| Person 13 | 1 | Kuwaiti | 1 | ||||||
| Person 14 | 1 | czech | 1 | ||||||
| Person 15 | 1 | Qatari | 1 | ||||||
| Person 16 | 1 | Romanian | 1 | ||||||
| Person 17 | 1 | Omani | 1 | ||||||
| Person 18 | 1 | British | 1 | ||||||
| Person 19 | 1 | American | 1 | ||||||
| Person 20 | 1 | British | 1 | ||||||
| Person 21 | 1 | Indian | 1 | ||||||
| Person 22 | 1 | American | 1 | ||||||
| Person 23 | 1 | American | 1 | ||||||
| Person 24 | 1 | 1 | Kenyan | ||||||
| Person 25 | 1 | French | |||||||
| Person 26 | 1 | British | |||||||
| Person 27 | 1 | British | |||||||
| Person 28 | 1 | Danish | |||||||
| Group 4 -1 | 1 | Lithuaian | 1 | ||||||
| 2 | 1 | Palestinian | 1 | ||||||
| 3 | 1 | Mongolian | 1 | ||||||
| 4 | 1 | British | 1 | ||||||
| 5 | 1 | British | 1 | ||||||
| 6 | 1 | Turkmen | 1 | ||||||
| 7 | 1 | British | 1 | ||||||
| 8 | 1 | British | 1 | ||||||
| 9 | 1 | British | 1 | ||||||
| 10 | 1 | British | 1 | ||||||
| 11 | 1 | British | 1 | ||||||
| 12 | 1 | British | 1 | ||||||
| 13 | 1 | British | 1 | ||||||
| 14 | 1 | Korean | 1 | ||||||
| 15 | 1 | Korean | 1 | ||||||
| 16 | 1 | Malaysia | 1 | ||||||
| 17 | 1 | Malaysia | 1 | ||||||
| 18 | 1 | Polish | 1 | ||||||
| 19 | 1 | Kurdish | 1 | ||||||
| 20 | 1 | British | 1 | ||||||
| 21 | 1 | British | 1 | ||||||
| 22 | 1 | Taiwanese | 1 | ||||||
| 23 | 1 | Japanese | 1 | ||||||
| 24 | 1 | Indian | 1 | ||||||
| 25 | 1 | Chinese | 1 | ||||||
| Group 5 1 | 1 | Jamaican | 1 | ||||||
| 2 | 1 | Nigerian | 1 | ||||||
| 3 | 1 | British | 1 | ||||||
| 4 | 1 | British | 1 | ||||||
| 5 | 1 | Srilankan | 1 | ||||||
| 6 | 1 | Pakistani | 1 | ||||||
| 7 | 1 | Nigerian | 1 | ||||||
| 8 | 1 | British | 1 | ||||||
| 9 | 1 | British | 1 | ||||||
| 10 | 1 | America | 1 | ||||||
| 11 | 1 | German | 1 | ||||||
| 12 | 1 | British | 1 | ||||||
| 13 | 1 | British | 1 | ||||||
| 14 | 1 | Nepalese | 1 | ||||||
| 15 | 1 | Polish | 1 | ||||||
| 16 | 1 | British | 1 | ||||||
| 17 | 1 | British | 1 | ||||||
| 18 | 1 | British | 1 | ||||||
| 19 | 1 | Spanish | 1 | ||||||
| 20 | 1 | Spanish | 1 | ||||||
| 21 | 1 | British | 1 | ||||||
| 22 | 1 | Spanish | 1 | ||||||
| 23 | 1 | Spanish | 1 | ||||||
| 24 | 1 | Spanish | 1 | ||||||
| 25 | 1 | Spanish | 1 |
2. Destination Marketing Plan
Define market segmentation and targeting:
The market segment should be comprised of the low market segment. As such that the economy face fluctuation at various period of time. By targeting the lower market segment, it will allow attracting the mediocre market segment, which is the transformation stage. Then by gaining revenues and growth in the consumer market, the luxury and high-class society of the consumer product should be targeted. The region is mainly developing because of the development within its real-estate sector. The market segment should be entirely classified in accordance with three categories which is common in the consumer market. The three categories are Youngsters, Youth, and Adulterers.
Where among the three market segment there should be classification such as higher class which is the luxury segment of the market. Then comes the mediocre or the middle-class segment and then the lower market segment. The economic conditions of the Seremban are favourable because of its development within the real-estate sector. However, focusing on the market demands for consumer products will push the market forward and help in the development of the market.
3. Suggested Marketing Mix
Define the Marketing Mix Tools (Cleverism, 2019):
Product- It refers to the kind of commodity that is required to be sold by the market. Identification of the product or commodity that would be favourable within the consumer market.
Place- It refers to the geographical area as of which place to launch the consumer product. The place is the second essential factor as such that target market lies within this segment.
Price- It is concerned with regard to the price of the commodity or product. It is related to decide as of what is the price of the commodity that is required to be fixed.
Promotion- It is concerned with that of the various promotional strategies such as what medium of promotions to be undertaken in order to promote the product.
The marketing mix is concerned with putting the right product in the right place, at the right price, at the right time.
Importance of Marketing Mix plan:
The following are the advantages of the marketing mix plan in regard to a destination marketing plan; they are as (Marketing91, 2019):
- Helps in the formulation of the new product portfolio.
- Helps in the product development activity.
- It helps in formulating a guideline that will help in improving the business process.
- It helps in product differentiation and market classification.
- It helps in formulating a clean mix creation.
- It helps in undertaking business in the dynamic business surrounding.
- It helps in making the right product available to the need one by predicting the required consumer market and at the right point of time.
- It helps in understanding the perception and interest of the individual consumer market.
- It helps in formulating a business strategy and overcome from the rival firms.
Justified recommendation for Seremban product:
The modern based technology is changing the work environment. Taking into consideration the various market study it has been observed that the millennial who are successful, and quick in nature make use of modern based technology. It is the technology advances that make the market to reach each and every corner of the world. It is the nature of the millennial market to make use of modern base technology.
The Millennials are technology savvy in nature. They understand that innovation is the key for business success. The product offering should be in accordance with the consumer market such that the market has the potential to consume the product (Trewmarketing.com, 2019). Moreover, the purchasing power of the consumer is another factor that is to be taken into consideration.
Justified recommendation for distribution strategy?
The distribution channel should be by making use of the local channel as such that this will enable the local channel to develop. On the other hand, this will generate new job opportunities within the concerning city. Moreover, the flow of money will stay within the Seremban itself.
Below are the six steps, by making use of this below six steps the distribution channel can be improved a lot.
1. Addressing it as a priority:
Dedicate resources to the channel management, one dedicated manager whose sole responsibility resemble towards the management of those relationships, and build the marketing programs to drive revenue through the channel.
2. Formulate measurements and track down performance:
Address and depict out the best sales person among the distribution channel. By tracking orders, volume and total revenue at each point, you can identify and improve underperforming partners and keep your top performers happy.
3. Communicate:
Formulate positive relationships among each and every individual of your channel. Communication is the key towards success. Without communication it is not possible to address the problems within the business market. By communication the key area of the problems can be brought forward and accordingly it can be dealt with it.
4. Generate revenue through the channel:
Undertake ownership of the marketing campaigns that will drive revenue at all levels through the channel. The primary focus should be on formulation one’s own database and contacts not just marketing the product. It is required to be understood that there are several rival firms that offer similar kind of product offerings.
5. Eliminate pricing conflicts:
Formulate a pricing strategy and stay fix towards it. A marketer should understand that ifa conflict arises in regard to the pricing of the product it must be dealt with as soon as possible.
6. Addressing conflicts swiftly:
Within the business context, problems will never stop to occur. It is very important to address the problem as they cannot be fully emanated they can only be dealt with. Hence, addressing the cause of the problems within the time frame will help in formulating a business strategy in order to deal with it within the coming future time.
Justified recommendation for promotional strategy (Excluding the price factor)?
The business firm should make use of the modern based promotional strategy such as social-media ad campaign which is one of the trending topics in today’s time. The use of the digital marketing platform should be undertaken so that much of the consumers can be reached within a fraction of a second. On the other hand, social media has a huge number of presence in regard to consumers. Every individual whether consumer or not has a presence within the social-network platform (Bizfluent, 2019). This takes in the strategy, irrespective of the fact that an individual will be a consumer or not by means of the social-network promotional activity an individual may become aware in regard to a specific commodity and recommend this specific product to any other close by relatives or friends. This will bring in the marketing concept such as WOM (Word of Mouth).
On the other contrary, the various ad campaign helps in making the product offering available at different point of time. The various tools of digital-marketing help in optimization of the
Conclusion
Taking into consideration the past performance of the region the major growth has been because of the development within the housing sector. The number of new houses is being developed and formulated. The market should be focused on making a new product that would be related to the real estate industry. Moreover, the new commodity market should make use of advanced technology to successfully sustain the market.
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