comparative analysis - slides

A Comparative Analysis of 2 Businesses of Similar Industry in

Different Geographical Locations

Pang Khai Shuen 0318423

Lee Ren Jet 0319058

Ng Yi Yang 0319688

Hor Weng Lim 0319441

Felix Vong Zhi Wei 0318462

Tan Jia Yi 0319476

THE OPTOMETRIST

HISTORY OF THE OPTICAL TRADE

MI-WAH SUPERIOR OPTICAL CENTRE SDN. BHD.

Owner:

Mr. Mah Kin FattAge: 53Contact number: 0163831330

Years in the Optical Trade: 28

MI-WAH SUPERIOR OPTICAL CENTRE

• Opened: – May 1998

• Current Location: – Lot 2037, 2nd Floor, Endah Parade, Taman Sri

Endah, Bandar Baru, Sri Petaling, 57000 Kuala Lumpur

• Reasons of starting the business:– Mr. Mah had the right skills.– The profit.– An easy market to enter.

MI-WAH SUPERIOR OPTICAL CENTRE

• Total customers:– About 1000

• Average customers per day:– 2 to 3

• Yearly revenue:– Around 300 thousand ringgit per annum.

• Employees:– No employees.

TEO OPTOMETRY SDN. BHD.

Owner:

Ms. Teo Sock HoonAge: 43Contact number: 07-6863236

Years in the Optical Trade: 28

TEO OPTOMETRY SDN. BHD.

• Opened: – 1997

• Current Location: – 30, Jalan Bakek Jaya 1,Taman Bakek Jaya,

82000,Pontian, Johor.

• Reasons of starting the business:– Ms. Teo wanted to start a business of

her own.

TEO OPTOMETRY SDN. BHD.

• Total customers:– About 4000

• Average customers per day:– 15 to 25

• Yearly revenue:– Around 720 thousand ringgit per annum.

• Employees:– 3 employees.

COMPARATIVE ANALYSIS OF BUSINESSES’S COMPETITIVE TRAITS

Number of competitors

Business A

• 3 competitors

Business B

•3 competitors

Business A - Competitor 1

Shop: OptimalOwner: AndyBusiness started: Year 2012Branches: 14

Business A - Competitor 2

Shop: Optical PointOwner: Mr. NgBusiness started: Year 2010Branches: none

Business A - Competitor 3

Shop: Vision BrightOwner: David ChanBusiness started: Year 1998Branches: 4

Business B - Competitor 1

Shop: The VisionOwner: Mr. Ng Peng Hua Business started: Year 2007Branches: 10

Business B - Competitor 2

Shop: You & EyesOwner: Irene TanBusiness started: Year 2008Branches: 3

Business B - Competitor 3

Shop: Eye BoxOwner: Terence Tan, Grace TongBusiness started: Year 2009Branches: None

Strategies of business

Business A• Good Service• Decrease overhead & prices of products• Regular customers

Business B•Recommendation of customers•Emphasis on vision care•Regular customers•Bring in high technology machines.

Zeiss Machine for I-terminal dotting

Obstacles Faced by New Businesses

•Quantity of demand is low due to the low density of population in the area

•Due to competitors around the area as customers will make comparison of the price of product

•Hard to achieve economies of scale

Monopolistic Competit ion

Nature of Market

Characteristics of monopolistic competition

•Contains large number of small firms

•Many competitors, each one sells slightly different products.

•Each firm makes independent decisions about price and output, based on its product, market, and costs of production. 

Recommendation

Business A

• Move the business to a location more accessible by people

- acquire new customers

• Purchase more advanced equipment

- provide better spectacles

Business B

• Open up branches

- increase sales and customers

• Make more advertisements about their machines

- attract more customers

- gain trust with sophisticated technology

END