1.0 Introduction to EpiCentre Asia Pte Ltd
Established in 2002, EpiCentre Asia Pte Ltd is the first Apple premium reseller in the region. Its products and services includes the sale of Apple peripherals, its accessories, product training, technical advice and help for its customers. EpiCentre currently has 5 stores (previously 11) operating in Singapore. (Epicentre Pte Ltd, n.d.)
Founded in 1819 initially as a British colony by Sir Stamford Raffles, Singapore is located in the south east Asia. It gained its independence in August 9 1965, and it has developed into one of the world’s busiest ports ever since. Singapore currently has a multi-racial population of around 5 million and it is made up of mainly Chinese (75%), Malays (14%), Indians …show more content…
The following factor(s) are faced by Epicentre:
-Low inflation rates (opportunity and threat)
Low inflation rates (2.63% in June 2016 according to Singapore business review) means affordable prices to all consumers hence it is an opportunity as it will attract more foreign consumers from countries with higher inflation rates to buy more, thus generating more revenue for Epicentre. However, this presents itself as a threat as it puts a dent in sales of local consumers as they will keep withholding a purchase in anticipation of a lower price elsewhere. (Min, 2015)
2.3 Social/Sociocultural factors influencing Epicentre
This aspect of the analysis shows the conditions and trends affecting the consumers and the business. Epicentre must address this social/sociocultural factor:
- Increased Social media awareness (opportunity and threat)
“Singaporeans are one of the most active social media consumers in the world. The Republic has the world’s second highest social penetration rate in Singapore at 59 per cent.” (Aziz, 2014) The threat is that now power now lies in the consumers as one bad review can be detrimental to the success of the company. However, this presents itself as an opportunity to retain loyal customers as social media allows the company to interact on a more personal level such as events with …show more content…
A. (2014, Jan 10). Singapore and social media. (M. p. Ltd, Editor) Retrieved from Today online: http://www.todayonline.com/tech/singapore-among-most-active-social-media-report
Charlton Media group. (2016). Singapore Business review. Retrieved July 23, 2016, from Singapore Business review: http://sbr.com.sg/economy
Chuan, T. Y. (2016, April 9). Stricter rules for emplomyent pass. Retrieved July 23, 2016, from The Straits Times: http://www.straitstimes.com/singapore/stricter-rules-for-employment-pass-approval
Epicentre Pte Ltd. (n.d.). Epicentre Asia. Retrieved July 21, 2016, from http://epicentreasia.com.
Guide, B. S. (2009-2016). Introduction to Singapore . Retrieved July 19, 2016, from Best Singapore Guide: http://www.best-singapore-guide.com/introduction-to-singapore.html
Hawksford Singapore. (n.d.). Hawksford. Retrieved July 23, 2016, from Guide me Singapore: https://www.guidemesingapore.com/incorporation/introduction/singapore-incorporation-advantages
Min, C. Y. (2015, May 20). Falling Prices and risk to economies. (S. P. Holdings, Editor) Retrieved July 23, 2016, from Asiaone Business:
Established in 2002, EpiCentre Asia Pte Ltd is the first Apple premium reseller in the region. Its products and services includes the sale of Apple peripherals, its accessories, product training, technical advice and help for its customers. EpiCentre currently has 5 stores (previously 11) operating in Singapore. (Epicentre Pte Ltd, n.d.)
Founded in 1819 initially as a British colony by Sir Stamford Raffles, Singapore is located in the south east Asia. It gained its independence in August 9 1965, and it has developed into one of the world’s busiest ports ever since. Singapore currently has a multi-racial population of around 5 million and it is made up of mainly Chinese (75%), Malays (14%), Indians …show more content…
The following factor(s) are faced by Epicentre:
-Low inflation rates (opportunity and threat)
Low inflation rates (2.63% in June 2016 according to Singapore business review) means affordable prices to all consumers hence it is an opportunity as it will attract more foreign consumers from countries with higher inflation rates to buy more, thus generating more revenue for Epicentre. However, this presents itself as a threat as it puts a dent in sales of local consumers as they will keep withholding a purchase in anticipation of a lower price elsewhere. (Min, 2015)
2.3 Social/Sociocultural factors influencing Epicentre
This aspect of the analysis shows the conditions and trends affecting the consumers and the business. Epicentre must address this social/sociocultural factor:
- Increased Social media awareness (opportunity and threat)
“Singaporeans are one of the most active social media consumers in the world. The Republic has the world’s second highest social penetration rate in Singapore at 59 per cent.” (Aziz, 2014) The threat is that now power now lies in the consumers as one bad review can be detrimental to the success of the company. However, this presents itself as an opportunity to retain loyal customers as social media allows the company to interact on a more personal level such as events with …show more content…
A. (2014, Jan 10). Singapore and social media. (M. p. Ltd, Editor) Retrieved from Today online: http://www.todayonline.com/tech/singapore-among-most-active-social-media-report
Charlton Media group. (2016). Singapore Business review. Retrieved July 23, 2016, from Singapore Business review: http://sbr.com.sg/economy
Chuan, T. Y. (2016, April 9). Stricter rules for emplomyent pass. Retrieved July 23, 2016, from The Straits Times: http://www.straitstimes.com/singapore/stricter-rules-for-employment-pass-approval
Epicentre Pte Ltd. (n.d.). Epicentre Asia. Retrieved July 21, 2016, from http://epicentreasia.com.
Guide, B. S. (2009-2016). Introduction to Singapore . Retrieved July 19, 2016, from Best Singapore Guide: http://www.best-singapore-guide.com/introduction-to-singapore.html
Hawksford Singapore. (n.d.). Hawksford. Retrieved July 23, 2016, from Guide me Singapore: https://www.guidemesingapore.com/incorporation/introduction/singapore-incorporation-advantages
Min, C. Y. (2015, May 20). Falling Prices and risk to economies. (S. P. Holdings, Editor) Retrieved July 23, 2016, from Asiaone Business: