Executive Summary
MSC Lifestyle has never been the most popular store in NYP mainly because of
its location. The purpose of this project is to revamp MSC Lifestyle. We have
done a market research by doing surveys with a sample size of 150. Through
brainstorming, field trips and surveys we found information and decided to select
a Jap/Korean store as it is the most popular amongst the ideas. We used
techniques like S.W.O.T analysis to analyze MSC Lifestyle. We worked out the
business model and the implementation plan. There is also another page on
recommendations if the Jap/Korea store cannot work out.
Introduction
a.) Background and the problem
MSC Lifestyle’s sales have been declining steadily, we need a revamp to
increase sales.
b.) Purpose & Scope of Report
The purpose of this report is to suggest some new ideas that MSC Lifestyle can
move into. This is a report on revamping MSC Lifestyle, due to limited time and
funds, we only covered students and staffs from NYP, mainly from SBM (School
of Business Management). We have estimated costs for implementing the idea
and also, analyze the procedures and the personnel needed to carry out the idea.
c.) Limitations
Due to limited human resources, we only managed to survey a sample of 150
staff and students. Moreover, it is the holidays and only SBM students have
started school and also a minority of other students who are in school because of
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their final year project. 3 weeks is not a very long time and we narrowed our
scope of study to meet the dateline. Research was not very in depth, and this
project is only skeletal.
d.) Sources/Methods of Data Collection
For primary data, we surveyed staff and students from SBM, also a minority of
other students from SIT, SEG and SCL. We went for two field trips, one to
Orchard Road to look at the different store layouts and also how MSC Lifestyle
can follow them. The other trip was to Daiso located at IMM level 3. This store
gave us a few ideas on the products to bring in. We wanted to compare the
products offered. We also asked for a few suppliers contacts. By asking about
the prices of products we would be able to give a better estimation of the cost
and revenue.
Business Idea
a.) Market Research:
3. Which of the follow ing shop in school w ould
you be likely to patronize?
150
116
100
50
34
0
Jap/Korea product Red Indian
store
Accessories
2
Through a market research of a sample size of 150, we found out that 116 out of
150 would likely patronize a Jap/Korea product store. This is 77% of the sample
we surveyed. This indicates that a Jap/Korea product store is more welcomed
than a Red Indian accessories store which seems too exotic for the liking of the
people at NYP.
Therefore, we have decided to choose the idea of changing MSC Lifestyle into a
Jap/Korea product store.
6. I w ill patronise MSC Lifestyle if it is changed
to m y desired store:
Strongly disagree
0
Somew hat disagree
5
Neutral
43
Somew hat agree
52
Strongly agree
50
0
10
20
30
40
50
60
This question asks if customers would patronize MSC Lifestyle if it is changed to
their desired store. 102 surveyees claimed that they would patronize the shop if it
is changed. This is 68% of the surveyees which is more than half of the sample
size. This shows that by changing MSC Lifestyle to the Jap/Korea product store it
will attract more customers as compared to now.
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4. I hope to find the following item/s in the Jap/Korea
product store:
Others:
2%
All of the
above
41%
Cute
stationeries
11%
Food
34%
NeoPrint
m achine
12%
We suggest a few household Japanese items to the MSC Lifestyle and found out
a warm liking for all of them. 34% wants food and 41% wants all of the above,
which are cute stationeries, Neoprint machines and others like cultural products.
This means the range of items we want to offer are in demand and they will sell
well which in time means more profit for MSC Lifestyle.
8. Which is the most important factor that will
attract you to patronise the MSC outlet repeatedly?
1. Have you been to MSC Lifestyle shop?
140
100
80
60
40
20
0
120
87
116
100
80
41
60
11
Unique
Products &
services
Price
Store layout
11
Staff attitude
34
40
20
0
Yes
No
It is shown in this question that unique products and services are what matters to
the customers. 87 (58%) out of 150 said that unique products is what attracts
them to shops. Location might be a problem, 34 (23%) have not been to MSC
Lifestyle before; most of their reasons is because it is located too far away from
their blocks. However, we believe that with unique and special products which
cannot be found anywhere, we will be able to attract others despite the location.
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b.) S.W.O.T Analysis:
Strength: The strong point of this business idea, Jap/Korea product store, is that
we will be bringing in products which are different from those sold in the existing
MSC outlets. The store layout and environment is also distinctive because we will
be using the Jap/Korea style to design the store.
Weakness: Bad location of the store is a disadvantage to our business. The
human traffic flow at this block is too low and thus not many NYP students and
staff know about this store, mainly those from the other schools.
Opportunities: Jap/Korea product is a brand new market in our campus. None of
the MSC outlets specialize only in these products. This is a good start for our
business.
Threats: Our main competitors within the school are the MSC outlets located at
the Shopping Arcade. The shift in people’s taste and preference can also create
pressure to our business. Reliability of our suppliers is unknown till now because
we have never get supplies from them before.
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Business Objective
The following is the list of our business objectives:

To attract customers to patronize MSC Lifestyle.

To generate more revenue.

To provide unique and exotic Jap/Korea products.

To provide the best service to our customers.

To spread the Jap/Korea culture.
Business Model
Team structure: One supervisor is required to overlook the whole outlet, including
the student staff. Four student staffs are needed to tend the outlet. Training on
the use of POS system and stocking taking will be given to them. For any
important matters, the student staffs must report directly to their supervisor.
Roles and Responsibilities: Supervisor has a vital role to play in this model. He is
responsible for the welfare and safety of the staffs working under him. He must
always update himself on the happenings in the outlet. He should also act as an
advisor to his staffs and give constructive feedback. At the end of each working
day, he must collect and calculate the day’s earnings from the outlet and also
keep a record of the figures.
As for the student staffs, punctuality is extremely important so as to open the
store on time. Each day before starting the business, stock taking must be
preformed. Staffs must maintain the cleanliness and tidiness of the outlet. They
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must give the customers a welcoming feeling when they shop in the store. Staff
must greet the customers in Japanese’s/ Korea’s language. On top of that, the
staffs must have good product knowledge. Any loss or damages must be
reported to the supervisor. Maintaining sufficient stocks so as to meet
unexpected demand is the responsibility of both the supervisor and student staffs.
Maintaining good relationships:
In order to stock up the arrived goods in the shortest time possible, staffs will
need to work hand in hand with the Inventory Management team.
As for our suppliers, the outlet have to give them ample time to deliver the goods
unless if there is any emergency cases. Payments to the suppliers ought to be
made when due.
To maintain good relationship with our customers, staffs would like to remember
the preferences of frequent customers and also address them by their names to
give them a feeling of warmth when they are in the store.
Cultural change: Staffs can put on Japanese related aprons to complement the
products sold in the outlet. They can follow the Japanese culture of being kind
and polite. This culture is to be followed by all the staffs involve in the outlet.
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Implementation Plan
We decided to bring in food products like crackers, biscuits, sweets and
Jap/Korea beverages. If possible, we want to bring in the Neo Print machine,
when students have break or free time, they can pop by with their friends and
take photos. We would call the suppliers and bargain for a good price for the
supplies and then bring them in. Certain old products would be returned and the
“Mu-ee” products can be kept because it suits our theme of a Jap/Korea store.
The lighting at MSC Lifestyle can remain, the bright lights there suits the food
products we are going to sell. A few more new shelves would be needed to
display the food items and the clothes rack will be taken away because we do not
need it. Three staffs would be needed to tend the stall. We would provide them
with aprons and also equip them with the right greeting language in either
Japanese or Korean. The staff will be trained to be kind, helpful and obliging.
Japanese cultural decorative items would be placed at the shop to make the
customers feel welcome and also give them a feel of Japan. (Refer to pictures in
appendix) Another point we found out is that MSC Lifestyle do not play music, we
want to make them play Japanese soothing music to also attract customers.
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List of suppliers contacted
We contacted four suppliers to discuss about the price of goods with them, there
was no commitment.

Tanesei Trading Pte Ltd
They offer direct purchase and we must collect the products ourselves, it
is not surprising as they are a big supplier and supply a wide variety of
goods. Given MSC Lifestyle’s limited resources, it is difficult to reach
agreement with this supplier.

Yamakawa Trading Co.
They offer both consignment and direct purchase. The trade margin
depends on the product. The company refuses to reveal more unless we
come to an agreement.

KMG Enterprise
They offer direct purchase and the trade margin depends on the quantity
we want. They seem interested and want to have a meeting with us if this
revamp is approved.

Naspac Marketing Pte Ltd (http://www.naspac.com.sg)
Usually, they do direct selling to merchants. If the wholesale price is $2,
they will suggest a price to set their products but will not limit it, they will
not control what price we set. Naspac seems keen but difficult to partner
with them unless they offer consignment.
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Recommendations

Chocolate Box
This store offers premium chocolates at affordable prices. The store has a
new different exotic look.

Sports Apparels store
A store that sells equipment like footballs, basketballs, shoes and gym
clothing. The other half on the store might be offering Jap/Korean snacks.

Comics cum Snacks “café”
Half the store will be shelf with comic books while the other half will be
furnished with tables and chairs. Customers are able to rent those comic
books and sit at the reading corner. They can also purchase and consume
the snacks sold in the store while reading.

Daiso store
MSC Lifestyle will be selling Japanese products (e.g. food, stationeries) at
low price. All products will be priced at $2. We recommend bringing in
Daiso as they are the suppliers themselves.
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