IT’S TIME FOR SMARTWATCHES

A smartwatch is a wristwatch with smartphone-like functions that alert you when you having an incoming call, a new e-mail message or upcoming appointment. It is usually paired with a smartphone via Bluetooth. The new wave of smartwatches tells their wearers how many steps they have taken in a day and monitor their heart rates, giving them functions found in GPS sports watches made by Garmin, Polar and others. According to market research around 2,000 smartwatches were sold in the first quarter of 2014 in Singapore. In the third quarter, nearly 10,000 smartwatches were sold. Casio Edifice EQB-500 It look just like a classic chronograph timepiece with a case,Bezel and watch band all made of stainless steel. The giveaways to the smart features are in the form of tiny icons on the watch face. It has an analogue watch dial with four sub-dials,which display world time, 24-hour time, AM/PM and watch mode. The watch supports only selected i-phones and Samsung smartphones. Pairing involves using Casio Watch + app on a smartphone and a Bluetooth connection. It has the ability to sync the watch with the smartphone’s time, handy when travelling across time zones. The watch also lets you find your phone should you misplace it, even without a Bluetooth connection.But the app must be running on the phone. It also comes with an indicator when an e-mail message arrives Power by Casio Tough Solar power system, this watch can practically last forever as long as you leave it to charge under the sun or in a lit room.

C) INSTANT NOODLE BRANDS GO, GOURMET,

People wanting premium instant noodles have looked to Japanese and Korean brands but more manufacturers are now introducing fancy ones in familiar local flavors.

Prima Food was one of the first to tap into premium instant noodles niche in 2011 when it launched its Singapore Laska LaMian.

Mr. Lewis Cheng, the general manager of Prima Food, says:” When we developed Singapore Laksa Lamian, we knew it would be high cost.” Some of the reasons for the higher cost included the use of better ingredients, the noodle manufacturing and retort process(heat sterilization process for the paste) and packaging.

“Thus we had to position the noodle and target it at the premium market segment,” he says. “Although the target market for instant noodle consumers is generally price conscious, more are willing to pay a higher for better quality and nutrition.” He adds.

While regular instant noodles can be priced as low as $1.80 for a pack of five, Laksa LaMian, part of Prima’s Easy Gourmet Indulgence range, costs $10.95 for a packet of four. It boasts new flavors too: Fish Soup LaMian and Chilli Crab LaMian.

Brands are also going the premium route by putting their spin on other local flavors, featuring spic pastes instead of just powdered seasoning, introducing spicy flavors, and offering noodles with no added monosodium glutamate(MSG)

B)a) Discuss three product differentiation strategies that can be adopted by Casio to set the Casio Edifice EQB-500 smartwatch apart from its competitors.

B)b) Discuss one social factor and one personal factor that can influence consumer behaviour regarding the purchase of a smartwatch like the Casio Edifice EQB-500.

C)c) Apply the buying decision process to explain how a consumer reaches a decision when purchasing a smartwatch.

C)a) Analyse two macro-environment factors that have contributed to the development of premium instant noodles, like Prima Laksa LaMian.

C)b) Employ 2 research approaches that can be adopted by marketers of instant noodles to gather primary data and determine consumer preferences.

C)c) Based on information from the case study, gourmet or premium instant noodles are 80% more expensive than regular instant noodles. Discuss 2 relevant price adaptation strategies that may be used to encourage more consumer to purchase Prima Food line of premium instant noodles.