1. Introduction
As the competition in both the local market and the overseas market is intense, some agents choose to use a disruptive pricing strategy so that the sales revenue during a particular time can be increased. During the non-sale period, they use a medium pricing strategy. According to the websites of agents in China, during different periods of time, the free gifts are different, but the 20th-anniversary pillow will be delivered during every period.
In this marketing report, different categories of mattresses from a mattress brand named magic koil hong kong size mattress are compared in terms of pricing, product features, and 4P strategies in different regions. After visiting the outlets in each region and conducting online/telephone surveys, secondary data is gathered from the internet. According to the advertisement on the Magic Koil website, there are 30 agents of Magic Koil in Asia-Pacific, 12 agents in the Middle East, 17 agents of Magic Koil in North East Asia, 4 agents in Europe, and 15 in other regions. The director of the brand is Mr. A K Loh. In general, customers can decide to choose a disruptive pricing strategy, a medium pricing strategy, a premium pricing strategy, a luxury pricing strategy, an economic pricing strategy, and so on.
1.1. Background of Magic Koil Mattresses
With the data in hand, the authors validate that the region makes a significant difference in the magic koil hotel mattress marketing mix, and that the local or global label and variation in the range of the mattress name will also make a substantial effect, with a few notable features of the mattress.
The key point is that Singapore, being the country base of Magic Koil, local consumers might be more familiar with the different magic koil india size mattress, as opposed to consumers in Dubai and the UK. Moreover, the companies making a product for the local market might use a distinct process and a set of features to meet the specific local consumer needs.
In this study, the Magic Koil models for the regions of Singapore, Dubai, and the UK are studied to understand if the product features of the mattresses are affected by whether the products are local or global brands, and if there are differences between the range, international, premium, and regular brands.
Magic Koil mattresses are made by a group of retailers in Singapore, with the underlying purpose of achieving the vision of being the market leader in the mattress industry. The company’s positioning in the market is to cater to the different needs of customers, with different sleeping positions, based on the specific selling points of each Magic Koil line.
1.2. Purpose of the Study
In the next section, the literature and related works about consumer behavior of people in different countries and the importance of consumer buying behavior are studied. In the subsequent section, we discuss the methodology applied for this study, including the data collection method, sample used, and information on survey sampling and interviews. Section four presents the results and findings of the study before we summarize and conclude in section five.
Hence, the purpose of this study is to find out the purchase behavior of consumers in different regions, such as consumers of the same brand but in different regions in three countries: Singapore, Malaysia, and Indonesia, for a Magic Koil mattress. Furthermore, interest in green products and social demographics play important roles in the purchase of a mattress.
In the previous study on SleepNetizens in select Southeast Asian countries on the purchase habits and attitudes towards mattresses, it was found that people in different countries have different behaviors. For example, Singaporeans are generally not price sensitive, although they spend a lot. Only 9.89% bought at a fair price. Malaysians, on the other hand, are more concerned about money but still spend within an affordable range. 82% of Malaysians bought at a fair price, with 39% being price sensitive. Indonesians, being mostly low-income, are considered price-sensitive.
2. Magic Koil Mattresses in Hong Kong
While a central premise in international business strategy is adaptation to differences across regions, empirical studies of how the needs and desires of international consumers with respect to specific products differ are rare. Berthon and Ashman (1997) propose that customer relationships are part of a larger social context that includes the sociopolitical, economic, industrial, and consumer communities. Montes (1996, p. 56) notes that partnership with local companies was reported to be ‘part of the implementation of the customer-based view’. Mattresses are homemarketed products in the sense that they are made, transported, and sold in the same region (unless imported).
Buyer behavior in choosing a product as complex as a mattress has not been well investigated in different regions. This study presents a comparison of Magic Koil mattress consumer behaviors among Hong Kong, Singapore, and Australia. The annual sales for the last 7 years were used for comparison. Thurstone scaling of independent judges’ descriptive ratings shows the attributes of the ideal mattress in the three regions. These attributes were then used to compare the three populations’ responses to the Magic Koil brand. The ‘match between the product and the regional ideal’ was found to be influential. The implications of the findings with respect to consumer behavior, product concepts, product positioning, and the optimum regional strategies for multinational companies are discussed.
2.1. Overview of the Market
India is the seventh-largest and second most populous nation in the world, with a median age of 27 years. It is also, after China, the country with the highest annual increase, which is about 2%. The Indian market should not be surprising that more and more companies in different areas of business are trying to assert themselves in this market. Because the mattress industry will continue to grow for some time due to increasing health awareness, increasing disposable income, and growing urbanization, the Magic Koil company is trying to enter the Indian market with its products in 2016 by focusing on five major cities with more sophisticated models through the selection of distribution channels.
The concern about the quality of sleep and the impact of different diseases has served as an impetus for further research and innovation in mattress design. Over time, the Indian market has become an attractive market for many foreign companies. However, for some time in this sector, there has been operating a relatively well-known brand “Magic Koil”, which is not new to the consumer. This contribution tries to examine how different Magic Koil models are sold in several regions by the PPF and SENTIENT method. From the obtained results, it is derived that it is regionally different and related to customer satisfaction. These findings would imply the need for marketing strategies to be adapted to local conditions when companies operate in more regions.
2.2. Product Range and Features
In Europe, mattresses are commonly packed in small zipped bags, although many of them have not yet been opened. The quality is getting higher and higher. Turnable mattresses or non-turn reversible mattresses are widely used. Besides the traditional Bonnell system, mini pocket spring and foam encased systems are more accepted. Due to the weight and high density of springs and multi-layered pads, large mattresses are made into more easily manageable small bags. Because most of the bedding and mattresses in houses are for leasing, supermarkets must consider the effect of small-sized pads or packages, and take into account simple assembly since spring beds are also the direction of development in Europe. The E Blister is becoming popular for easy carrying and suspension of double mattresses. The fire retardant requirement is very strict. All mattresses must pass the flame retardant test of M1. Due to the special shape, size, weight, or material, some mattress models in certain markets are featured and exclusive. As the leading roll packing supplier, Magic Koil is also the first choice for roll packing customers, especially for some exclusive items. Magic Koil’s stable ultra-high-speed packaging production line can achieve maximum 2 minutes roll packing and one pull testing, which is most beneficial for mass production.
The product range of mattresses differs a lot based on geography and culture. Due to different climates, heavy industry concentrations, and unfavorable natural environments, some areas have very high demand requirements for mattresses. This is related to their traditional culture and their love for life. As the leading manufacturer of mattresses in the world, Magic Koil provides a relatively complete range of categories for selection.
3. Magic Koil Mattresses in Hotel Industry
Every tourist spending as much as a single night in a hotel can easily judge the comfort of a Koil mattress. Tourist satisfaction rates with Magic Koil mattresses are very high indeed. Given the current reality with intense competition in the hotel industry, hotels, besides their traditional characteristics, are now also characterized by levels of comfortable lodging conditions provided by them. “Tired tourist,” who after a day’s work stands before the hotel reception with the pertinent question, “Is there a spare bed with a soft and very cozy Magic Koil mattress for me in the hotel?”, are already becoming our everyday reality. Restart yourself and let your Magic Koil mattress be the instrument ensuring you a pleasant relaxation night.
Nowadays, many hotels of different commercial categories offer Magic Koil mattresses. As a rule, all Magic Koil mattresses installed in hotels are spring mattresses (pocketed spring mattresses, more specifically) equipped with fire-resistant material covers. The external mattress case is protected from getting soiled by a special external cover. Some of these hotels are as follows: Suntec Singapore International Exhibition & Convention Center, The Ritz-Carlton Millennia Singapore, The Fullerton Hotel, Shangri-la, and Marina Mandarin, etc.
3.1. Benefits and Features for Hotels
– Reduced Turnover Costs – Comfortable mattresses that can last long term. – Custom Mattress Option to differentiate self from competitors. – It is designed to be low maintenance yet cost-effective. – Commercially priced for volume buying. – It is designed for the guest to sleep well and motivate return business. – It is made with post-fire safety in mind.
Benefits of a Magic Koil mattress for hotels:
Magic Koil has a line of mattresses specifically aimed at servicing the hospitality sector. These mattresses often have a special feature known as the ‘No Turn’ function, which means guests do not have to worry about turning the mattresses at the end of the season. The mattresses have extra anti-fire protection and extra long-term usage in mind, as we know that these hotels are in the business for the long term. Magic Koil hospitality mattresses are also cost-effective, as our commercial differences between our cost and the end users’ saving. We know that you have a business to run and we want to be able to provide you the best value mattress at the best price.
4. Magic Koil Mattresses in India
The mattress category has undergone huge changes in the Indian market in recent times. Instead of just for utility, the mattress has become a lifestyle product with increasing demand for foam mattresses. This has necessitated the need for the latest technology and innovation. To fulfill the demand, many Indian manufacturers, as well as big international companies, have come up in the organized mattress market. Anold is a brand launched in India and is sold exclusively in India similarly Sealy. The other international brands comfortable in the Indian organized segment are Kurlon and Springwel. Magic Koil is a brand available in the Indian market which is comfortable in many other parts of the world, from 1990. The objective is to understand the product options, the market approach, the factors leading to brand loyalty and the attractiveness of the Indian market for Magic Koil. A telephonic interview was conducted to understand the product options and the key selection criteria with the strategy head Hoe Kee Leng Kannan at HIR International, India. With this, evaluating the market approach of Magic Koil in India information was gathered.
India, the largest democracy in the world, is gearing up positively to make a great business partner. South Korean and Indian relationship was established in the year 1973. In the transformation of the Indian consumer from price to value, buying capacity for home and home-related products and their aspiration to embellish their homes are driving demand for products that prioritize design, comfort, brand, and lifestyle. The fast-growing Indian economy, the large population, the high rate of urbanization, the increasing standard of living, and most importantly, the increasing willingness of the young Indian consumers to experiment and adopt the latest trends and fashion, offer a great opportunity for global and Indian businesses.
4.1. Market Trends and Preferences
Regardless of the businesses in the mattress industry in different countries, their development, culture, and preferences are quite different but interconnected. The development level of mattresses in the market is related to the development of the market in general. In different regions, the producers of mattresses have their own stagnation, five moments, marketing channel strategy, and design. There are different levels of demand and requirements of consumers and different tastes of consumers and occupational habits. Manufacturers need to choose their mattress development strategy according to the needs of the market, implement changes, and reflect the country’s conditions and characteristics of demand. Advertising and sales strategies must also be designed to meet local needs and consumer requirements, and to allow consumers to know the brand and the needs of the product they need.
The choice of mattress depends on individual tastes and preferences. The preferences change from generation to generation, and often for different social groups practicing different lifestyles. Consideration and implementation of the most important points that influence the whole group and especially the particular customer are the key to the success of any service provider. A properly designed product will attract a consumer from their first look at the product. In recent years, a number of companies pay attention to improving the quality of the product rather than its design.
4.2. Comparison with Other Brands
Magic Koil Brand – Magic Koil is a Singapore brand of mattresses. It was founded in 1995. The company hired European consultants to design sleeping systems for consumer satisfaction and received European quality certification. Northtech is the factory that manufactures Magic Koil mattresses to the highest specifications. Mattresses are custom-made in size by experienced craftsmen, and customers can also choose a style and comfort level before buying. The pocketed spring system supports the individual curves of the spine, absorbing movements and distributing them comfortably. The exclusive bed technology optimizes airflow and creates a restful sleep. The anti-dust mite treatment on the fabric provides safe and seamless sleep. The honeycomb structure is designed to return to its original shape and elevate your comfort level.
There are many brands in the mattress manufacturing industry, such as Simmons Mattress, Sealy, Serta, Dunlop, King Koil, and Tempur. In recent years, a few local brand manufacturers have also played a major role in this industry. Dream Master Brand and Magic Koil are popular examples of local brand mattresses. Each brand of the mattress is designed to suit different customers’ preferences, sleeping habits, and purposes. In this section, the Magic Koil mattress is compared with two other brands of top-class mattresses, Simmons and Tempur. The brief introduction of these three types of mattresses is provided below.
5. Conclusion and Recommendations
This thesis has adopted the fairy tale genre to compare variations of Magic Koil mattresses from different countries in terms of design patterns, construction techniques, added features, and innovative brand products. We first introduced the context, symbol and expression in furniture design, and how the material and image of the furniture used in the fairy tales can reflect the life conditions, character, aesthetic, and cultural consciousness of the people living in the particular time. Then, we summarized twenty morphological rules for fabricating mattresses from the western magazines and eastern literature classics and examined six Magic Koil mattresses produced in Singapore, Dubai, and Shenzhen in China to validate these rules. From this comparative study, we found that Singapore Magic Koil mattresses widely use the beauty of symmetrical balance, linear pattern, flat-flipped bed frame, and arch-shaped bed cushion in the fabric design; artfully integrate cross slat structure and shiftable storage bed base with polyester ticking cotton in the construction; and uniquely present a health caring edition with natural econyl fabric which is 100% regenerated nylon yarn. The Dubai’s design is influenced by Islamic architecture, geometric pattern, and handcraft, etc. Such understated elegance greatly represents the luxury of the Arab alliance. The Shenzhen DreamLand – Singapore Magic Koil joint ventures develop a ventilation innerspring decreases the heat dissipation problem, provide warm and light-dark functional mattress based on zonal pressure technology, remove dust mite, collect humidity, and provide an antimicrobial surface to offer an advantageous sleep environment. The Magic Koil merchants deliver six princess and wizard style mattresses with a folding adjustable backrest, foldable desk supported by the steel bed frame, and stackable spring bed frame design to juicy young kids for an enchanting room. The recommendation that was suggested in the end.
