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Market Analysis Japan

In: Business and Management

Submitted By trucaramel
Words 2706
Pages 11
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 group. The 64.3% represents approximately 41,187,425 males and 40,533,876 females. Moreover, 66% of the total population are urban dwellers which are ideal for our product. A highly urban population eases promotional tasks by having access to the population through major cities rather than rural area.

Out of the approximately 127.5 million people who reside in Japan, 99% are literate and 66.4% work in the service industry. This goes to show us that their employees are well educated and generally earn a good income which goes to show they can afford to spend more.

According to a recent survey by the World Tourism Organization, the Japanese take 25 days per year off for vacationing. This is ideal for Bombardier, as our water crafts are primarily going to be used during vacation time (personal use or through resort).

In terms of spending at households with two or more persons, a relatively large percentage of spending is towards culture & recreation which is advantageous to our company as our product is for recreational use. The Japanese spent an average of 32,800 Yen on culture & recreation. Furthermore, spending on “durable & semi-durable goods” have been growing faster (3.1 %) than any other spending category. 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 emphasized seniority among family members and the dominant role of the male (Kamo, 1988). Historically,
Japan possibly began as a highly matriarchal society (Reischauer, 1981); however, due in large part to influences from China, Japanese society has long been male dominated, with women deferring to men and serving in subordinated positions

The women’s rights movement, while still in its infancy, is quickly rising in importance (Ford et al., 1994b). Women are waiting longer to get married and dismissing the belief that women must remain at home and take care of the children (Itoi and Powell, 1992). The fertility rate in Japan has fallen well below the 2.1 population replacement value to only 1.6 per women (Ball and
McCulloch, 1996). Women’s rights groups have united against a recent Japanese government’s campaign that encourages women to have more children (Kazue,
1995). One additional indication of social change is the recent finding that the number of married working women in metropolitan areas has exceeded that of married women working in the home (Nishikawa, 1990).
Usage Patterns:
Personal watercrafts are used often for a family leisure activity, as well as for sport competitions. A large problem with the using personal watercrafts is finding nearby, quality places to ride. The seasons and weather play an important role in determining how much personal watercrafts are utilized, with increase usage during warmer months.
Political Environment
A parliamentary government with a constitutional monarchy exists in Japan. Although there is an Emperor, his power is very limited. The congressional power is held chiefly by the Prime Minister of Japan and other elected members of the Diet, while sovereignty is vested in the Japanese people. In 2009 the social liberal Democratic Party of Japan took power after 54 years of the liberal conservative Liberal Democratic Party's rule. The current prime minister is Yukio Hatoyama. There is relative stability in political matters in Japan. The government does not regulate private businesses.

International organization participation:
Japan is a part of many world organizations including the WTO, IMF and UN. This provides security & regulations as it is a part of international organizations that must adhere to certain rules. Certain quotas and regulations are implemented through the WTO thus the government cannot easily change or manipulate trade policies.

Legal System:
The judicial system has been largely based on the civil law of Europe, mostly France and Germany. Japan's court system is divided into four basic tiers: the Supreme Court and three levels of lower courts. The Japanese also adhere to trademarks and intellectual property high courts. This builds ease of doing business as we are familiar with the judicial system and can protect our trademarks.

Environmental Policies:
The Japanese play an important role in global environmental policies. Japan was a signatory and host of they Kyoto Protocol in 1997 which binds them to a treaty obligation to reduce carbon dioxide emissions. Japan has an active ministry of the environment which laws include restriction of industrial emissions, restriction of products & wastes, and improvement of energy conservation.

Bombardier is well aware of the importance of the environment for their operations. Bombardier provides an environmental guide for watercraft operators to follow guidelines to preserve our natural resources. Their guide includes guidelines for:

- pollution - turbidity - vegetation - erosion - exotics - endangered species - special habitats - marine plant life

Cultural Environment

Festivals are amongst the most important cultural activities found within Japan. When they celebrate a festival, it doesn’t matter if the festival is religious or superstitious; people just relax and celebrate the festival. The New York Festival is one of the very important festivals in Japan. On that festival all businesses and stores are closed. As a business we need to be aware of these festivals as the population takes the time off work to celebrate and enjoy recreational activities.
The four largest islands are: Honshu, Hokkaido, Kysushu and Shikoku. Japan’s northernmost islands are located on a similar geographical latitude as Milan or Portland, while her southernmost islands are on a similar latitude as the Bahamas.
The climate varies strongly in different regions. In most of the major cities, such as Tokyo, is temperate to sub-tropic and consists of four seasons. The winter is mild and the summer is hot and humid. The rainy-season is in the early summer and typhoons hits parts of the country every year during late summer. This is critical in determining the demand for our product. Waterjet crafts are used primarily during the summer season and the geographic islands provide masses of water for the use of our product.
Climate:

Social Environment

The Japanese language is spoken by 120 million people in Japan, and by the Japanese who are located in Hawaii and on the North and South American main lands. There are a large number of dialects throughout the four main islands and the smaller islands of Okinawa and others. The Japanese language employs a system of politeness and honorific markers. It is often the case that in order to utter any kind of expression, the speaker must keep in mind his/her social standing to the person addressed, and the person being talked about. In order to effectively communicate with the Japanese society, one must not only communicate in their language but also consider the social norms and hierarchies. Consequently, a partnership with a Japanese firm becomes imperative.

In a society that values outward conformity, individuals may appear to take a back seat to the needs of the group.

Gender has been an important principle of stratification throughout Japanese history, but the cultural elaboration of gender differences has varied over time and among different social classes. In most households, women are responsible for their family budgets and make independent decisions about the education, careers, and life-styles of their families. Women also take the social blame for problems of family members.

Various family life-styles exist side by side in contemporary Japan. In many urban salaryman families, the husband earns the income and the female is a “professional housewife. In other families, particularly among the self-employed, husband and wife work side by side in a family business. Although gender-based roles are clear cut, they might not be as rigidly distinct as in a household where work and family are more separated.

Japanese women are joining the labor force in unprecedented numbers. In 1987 there were 24.3 million working women (40% of the labor force), and they accounted for 59% of the increase in employment from 1975 to 1987. The participation rate for women in the labor force rose from 45.7% in 1975 to 50.6% in 1991 and was expected to reach 50% by 2000.

The growing participation of women reflected both supply and demand factors. Industries such as wholesaling, retailing, banking, and insurance have expanded, in large part because of the effective use of women as part-time employees. There is a new term for the female counterpart of the "salaryman" (サラリーマン), the "career woman" (キャリアウーマン).Furthermore, the participation of woman in the workforce, and the growth of the “career woman” makes the female demographic a targetable market segment and an important decision maker in the family.

Business practices and customs

Business Attire:
The Japanese business women and men are typically fashionable, well groomed and well dressed and have a formal approach to business attire. They take pride in looking professional thus men typically wear dark suits, white shirts and a subdued tie. Japanese women are not allowed to wear jewellery, very short skirts or high-heeled shoes. The business card is a vital accessory to their business attire.

Business Cards:
The Japanese believe that the business card must be treated with the upmost respect, just as you would a person. It is highly recommended that the business card be translated into Japanese, and when presenting the business card, one must present the Japanese side facing the recipient. Business cards are given and received with two hands and a slight bow. It is also wise to make sure the business card includes your title, as Japanese colleagues are always interested in knowing ones status within an organization. At the beginning of the business meeting, the business cards must be placed on the table in the order which people are seated. At the completion of a meeting, it is custom to put the business card in a case or portfolio.

Relationships & Communication
The Japanese prefer to do business in a personal relationship manner. Group decision-making and compromise are important. They prefer you to be introduced or recommended by someone who currently has a good relationship with the company. It allows the Japanese to know how to place you in a hierarchy relative to themselves. The best way to build and maintain relationships with potential business partners/clients are with greetings/seasonal cards. It is extremely important to be a good correspondent as the Japanese hold it in high esteem.

Business Meeting Etiquette
Appointments are required and, whenever possible, should be made several weeks in advance preferably by telephone. Punctuality is also xtremely important. One must arrive on time for meetings and you can expect your Japanese colleagues to do the same. The Japanese are a group society, so even if you think you will be meeting one person, you should be prepared for a group meeting. The most senior Japanese person will be seated furthest from the door, with the rest of the people in descending rank until the most junior person is seated closest to the door.

The Japanese have a relationship centric approach to business. There will be several meetings with the potential business partners/clients to become comfortable you’re your company and be able to work with you. Normally, a small amount of business will be awarded as a trial to see if you meet your commitments. It is also suggested that a small gift to the seniors at the end of the meeting as a token of appreciation.

In terms of business negotiations, the Japanese are extremely non-confrontational. They have a difficult time saying 'no', so one must be vigilant at observing their non-verbal communication. Furthermore, written contracts are required. They don’t see contracts as final agreements so they can be renegotiated. The Japanese prefer broad agreements and mutual understanding so that when problems arise they can be handled flexibly. The Japanese also consider using a Japanese lawyer for contractual work as a gesture of good will.

Market Entry Strategy:
Partnership with a distribution-based operations in Japan with Anugro Ski
Productions in Valcourt, Quebec, facility

Penetration Pricing.
The price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is increased

Competitive pricing.
Use competitors' retail prices as a benchmark for our own prices. Price slightly below, above or the same as your competitors, depending on your positioning strategies.

|Sea Doo Model |Price |Kawasaki Model |Price |Yamaha Model |Price |Polaris |Price |
| | | | | | |Model | |
|GTX DI |$8,799 |1100 STX D.I |$8,499 |XLT1200 |$8,499 |Genesis i |$8,999 |

Sea Doo’s prices are at the higher end of the spectrum as compared to their competition, although Polaris’ models have higher MSRP prices.

Place:
Distribution handled by third party company. They will be in charge of developing a dealership network for our product.…...

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