An effective product innovation, pricing techniques and e-commerce influence consumer buying behaviour of small and medium sized enterprises (SMEs) in Malaysia
The effectiveness of the factors is the focus of this case study such as product innovation, pricing techniques and E-commerce in identifying the consumer buying behaviour intention towards purchasing the products as well as its impact on the growth of small and medium-sized enterprises (SMEs) in M...
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| Format: | MBA/DBA Final Project Report |
| Language: | English |
| Published: |
2023
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| Online Access: | http://discol.umk.edu.my/id/eprint/13677/1/Nik%20Nur%20Amalin%20binti%20Nik%20Mohd%20Azmi.pdf http://discol.umk.edu.my/id/eprint/13677/ |
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| Summary: | The effectiveness of the factors is the focus of this case study such as product innovation, pricing techniques and E-commerce in identifying the
consumer buying behaviour intention towards purchasing the products as well as its impact on the growth of small and medium-sized enterprises (SMEs) in Malaysia.
This case study highlighted on the Padini Holdings Berhad, it is one of the most well-known Malaysian local SMEs companies in the retail industry. Padini asserts that in order to pique consumers' interest and keep them coming back, apparel retailing must remain ever-iridescent in their minds.
Padini, a domestic fashion giant, leads the apparel and accessories industry in a highly fragmented market. Padini has used a large number of fashion labels in a variety of categories, including menswear, womenswear, childrenswear, apparel accessories, footwear, and hosiery, to diversify its product innovation in the apparel business. The affordability of the Padini brands and the advantages of having a well-known company are primarily responsible for their success. Furthermore, Padini also offers an affordable and reasonable price to the customers. Segmented pricing (product-form) is one of Padini Holdings Berhad's pricing adjustment strategies. Padini uses these adjustment strategies to set different prices for various versions of the clothing. Promotional pricing is Padini's Second strategy for adjusting prices. Padini sells their clothing at prices that are temporarily lower than the list price and in some cases, even lower than cost in order topique customers' interest and make them feel more compelled too. Additionally, Padini continues to make use of technology to better understand and serve its customers by utilizing digital retailing to capitalize on new opportunities (Padini Annual Report, 2018).
In short, Padini is aware of the fashion industry's changes as a result of consumer’s digital adoption. As a result, Padini asserts that the most crucial thing is comprehending the requirements of customers. Before the latest fashion trend loses its appeal. Apparel companies must respond quickly to it and introduce it to the market as soon as possible. |
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