Factors impacting strategy

In opening and investing a product and innovation to market, there always be other factors that will
effect the success factor of a brand or product to a new market. Knowing the factors that affect the
strategy can keep the company to monitor the important variable also to take action in the right
time and situation ( ) . Those factors is depend in the current situation of market location like in this
case the target market location is in Singapore. Which means the factors that will effect the strategy
of our investment is related to current Singapore situation such as consumer, competition,
technology, economic, seasonality, and legal factor.

Consumer
The target consumer of the company will be firstly of course teenager which is aged around
13 until 19 years old(). Why teenager because teenager used to want to look up to date with
the latest fashion trend like the Hawaiian shirt that the company offer is a latest rend in this
year, teenager also want to look different and attractive to the others so the Hawaiian shirt
with many unique colour and design will fit perfectly to them. The second target consumer is
Family members, Family members such as a father mother and their kids used to spend
holiday together in many times of the year. The holiday itself usually often related to the
beach and sea. So the family member can seek and interested with the companys Hawaiian
shirt which perfect to be worn at he beach or in summer. The third is young married couple,
it is a couple that is just married and still do not have kid yet, so it will make the opportunity
to go honeymoon. Honeymoon usually related to tropical island that have beautiful beach
and sea, so the Hawaiian shirt will be the perfect clothes for them to have.

Competition

Even there are not much vintage clothing seller in Singapore. There are many competitor
that also sell and have the same store theme which is vintage clothing. There are three main
competitor that already a quit popular vintage clothing store in Singapore which are De Javu
Vintage, Moodswing Vintage, Dustbunny Vintage. After evaluating deeper about the
competitor there are many advantage that Be The Best have than the other competitors.
The first is the location, the other competitor of the company is located less strategic place
than Be The Best that will be opened in 313@Somerset, Orchard since the others is located
at Millennia Walk, Raffles Boulevard (De Javu Vintage), Haji Lane (Moodswing Vintage). The
second advantage is the product that the other competitors sell is the ordinary vintage
clothing and do not have a signature product like the Hawaiian shirt that have many colours
and design. Those many unique colours and design will make Be The Best have more
awareness and trademark in the fashion market. The third advantage is the logo. Be The
Best have special logo that other people always remember which can be the company
trademark and the other company had.

Technology

With 4,699,204 internet user , Singapore has it 82.5 % of its popuation as internet user (
Singapore,s total population is 5,696,506). That fact and numbers shown that almost all of
popuplation in singapore use internet that make more oppurtunities in e-commerce and online
market. Plus the fact that in the last ten years the internet user percentage always increase is
quite amount of number which is from 59% in 2006- 82.5% in 2016. That numbers also
shown that Be The Best have to start an great idea of e-commerce strategies that will support
 its online presence since with the high internet user rate, the other company also have the
same chance and it will bring more competition in the online market.

Economic
There are so many data and economic statistic that effect Be The Best to open and invest in Singapore
, buta there are two mmost important economic factor which are GDP (Gross Domestic Product ) rate
and unemployement rate. GDP rat ein Singapore is reach 12.3% in the first quarter of 2017, which
increase 7% from last year. GDP includes all private and public consumption, government
outlays, investments, private inventories, paid-in construction costs and the foreign balance
of trade (exports are added, imports are subtracted). Put simply, GDP is a
broad measurement of a nations overall economic activity the godfather of the indicator
world.s