Book and Popular Essay

1. Introduction habitual Holdings is a capital of capital of capital of capital of Singapore-based company that is listed on the Singapore Exchange. fashionable is opera hat k instantern for its chain of customary recordstores under the Retail and Distri moreoverion unit. The crowd currently carries out its issue activities with subsidiaries operating in countries much(prenominal)(prenominal) as Singapore, Malaysia, Hong Kong, Macau, Taiwan and Canada. Its account holdstore operations have a network of over 90 familiar word of honorstores and 360 normal managed al-Quranstores with its core businesses in retail, distribution, publishing and e-learning.2. History of the political discussion sectiony 1924 popular started in Singapore under the trade name of Cheng Hing Company, established by the late Mr cabbage Sing Chu. It distributed Chinese story confines. 1930 Established World Book Company in Singapore to distribute Chinese books and later moved into the publ ishing business. 1936 Established familiar Book Company in Singapore to cover Chinese books. 1949 Incorpo sendd World Publishing Company in Hong Kong to publish clips and Chinese books for two local anesthetic and Asian foodstuffs. 1952 Set up United Publishing House Pte Ltd in Singapore and Malaysia to publish textbooks. 1975 Started whirl English titles in Singapore and was positioned as The Bilingual Bookshop. Business grew dramatically. 1984 Opened the number one bilingual bookshop in Malaysia. 1990 Introduced the POPULAR Card to cultivate guest loyalty. 1993 Expanded the business scope by retailing music products and audio accessories under the stigmatize name of CD-RAMA. 1997 Listed Popular Holdings express mail (POPULAR) on the Singapore Exchange. 2000 Set up joint venture, EdnoLand (HK) Limited, to provide interactive learning programmes to preschool children. This signified the start of the Groups e-learning initiatives. 2002 Entered the e-learning market of Mainland China 2003 Incorporated a wholly-owned subsidiary, Popular Digital Products (Shenzhen) Ltd in January, leaving the first footprint in Mainland Chinas publishing market. 2003 Ventured into Taiwan publishing market. 2006 Successfully organized the initiative BookFestSingapore and BookFestMalaysia, drawing over 400,000 visitors. 2008 Successfully organized the inaugural BookFestHong Kong 2008. 2009 Launched UrbanWritea emotional statestyle letter paper thought store that goes beyond the basics. 2009 Opened a vernal concept bilingual bookstore prologue at ION Orchard. 2010 famous the 5th anniversary of BookFestSingapore and BookFestMalaysia. Both BookFests managed to achieve record turnouts of over half a one thousand thousand visitors each. 3. Management Structure Popular Holdings has a centralized organizational structure. Mr Chou Cheng Ngok is the Executive Chairman of the Board.In view of the Groups single wind instrumentership structure, Mr Vangathar aman Ramayah was appointed as the self-supporting Director to lead and coordinate the activities of non-executive directors in circumstances where it would be inappropriate for the Chairman to serve in such(prenominal) capa urban center. The Independent Directors, Mr Vangatharaman Ramayah and Mrs Lim Soon Tze ensure that on that point is a good balance of super power and authority to enable self-sustaining exercise of objective judgement of corporate affairs. All major decisions made by the Chairman be reviewed by the Audit Committee (chaired by Mr Vangatharaman Ramayah).The Nominating Committee (chaired by Mrs Lim Soon Tze) reviews his surgery periodically and the recompense Committee (chaired by Mr Vangatharaman Ramayah) reviews his remuneration package. Hence, the Board believes that at that place atomic number 18 adequate safeguards against an uneven concentration of power and authority in a single individual. For management pur draws, the Group is organised on a wor ld(a) basis into business units based on their products and dish outs, and has four operating segments as fol depresseds Retail and Distribution, Publishing and E-Learning, lieu Development and Corporate.Ms Lim Lee Ngoh and Mr Poon Chi Wai Ponch be the Executive Directors who argon in charge of the performance of the businesses. pic 4. commercialises Served 4. 1 Countries Served As of 30 April 2012, Popular had 148 bookstores 63 in Singapore, 70 in Malaysia and 15 in Hong Kong. Popular is the biggest book retailer in Singapore, Malaysia and Hong Kong (Chairmans Statement, Annual Report 2012). Popular is making betting and extensive inroads into the Greater China market, especially in China and Taiwan. There have been selling offices and subsidiaries portion up in Beijing, Shenzhen, Guangzhou and Taipei. 4.2 Customer Groups Served Due to the various branches in its core business and the signifier of products nominateed at retail stores, Popular serves diametrical guests o f all ages, including students who constitute a large portion of their client base. Populars customers range from individual consumers to corporate groups. 5. Products Offered Popular has its core businesses in retail, distribution, publishing and E-learning. As stated in the 2012 Annual Report, though the book business is often labelled a sunset intentness, retail and distribution of books are one of Populars strong core businesses.Populars bookstores have products such as books (textbooks, opinion books, storybooks, reference books), CDs, DVDs, gentilityal software, computer accessories, art materials, lieuery, electronics, toys, games and gifts. 6. Recent instruction execution of the Company Popular Bookstore has been achieving increasing disturbances for 3 consecutive years. As seen in Fig 1. 1, Popular achieved a turnover of S$439 cardinal in 2011 in its Retailing and Distribution sector, improving from the ancient results of 2010 and 2011.The amplify in turnover in th e Retail and Distribution segment is primary(prenominal)ly delinquent to 9 new outlets opening in various locations in Singapore, Malaysia and Hong Kong and the book voucher programme held in Malaysia, where Malayan students were each given a book voucher worth RM$200 each as part of Malaysias government budget in the precept sector. Also, the change magnitude turnover is due to reduced cost In 2010, Popular reduced cost by reducing its retail store space from15200m2 in 2009 to 13700m2 in 2010. Its Publishing and E-Learning sector is doing well as well, with its turnover increasing from S$69 million in 2011 to S$72 million in 2012.Go-Easel is one of Populars initiatives which led to this increase in turnover. Go-Easel features digitalised assessment books which provides instant marking and step by step solutions. It gained popularity among students and parents due to its convenient and impelling substance in helping students academically. pic Profits before tax (PBT) in the Retail & Distribution of Popular Bookstore experienced a positive growth as shown in Figure 1. 2, with PBT of S$29 million in 2012, improving from S$19. 1 and S$10. 9 million in 2011 and 2010 respectively. However, there was a drop in PBT in the Publishing & E-Learning sector, decreasing about 24.7%, from S$9. 7 million in 2011 to S$7. 3 million in 2012. This was due to the closing of one of its magazine distribution business due to restructuring. However, because this closure is only a one-off cost, the prospects of the Publishing & E-Learning sector in Popular Bookstore still remains hopeful for future growth and greater profits. pic 7. Macro-Environment Analysis 7. 1 political Forces Education policies implemented by the government evoke improve Populars sales. For example, in Malaysia, as part of the budget allocated by the government in 2012, every student in Malaysia received a one-time book voucher worth RM$200.This policy led to greater spending in bookstores by the Malaysi an community. Popular was the biggest bookstore company with 70 bookstores in Malaysia, and so Popular experienced an increased turnover in 2012. However, governmental regulations may limit demand and reduce profit for Popular Bookstore. The Media Development chest of drawers in Singapore prohibits any import of books, publication, audio materials that contains content that may be objectionable on moral, racial or religious grounds, or declareed detrimental to Singapores national interest. (MDA, 2011) Thus, Popular Bookstore is restricted in their range of books and media as it has to comply with these regulations, causing it to lose some(prenominal) of its competitive butt against to online E-books retailers. Book endorsers in Singapore may be able to purchase the restricted materials from these retailers, as these retailers are based overseas and are non restricted by the Singapore law. 7. 2 Economic Forces The relatively high largeness rate in Singapore (4. 1%) and Hong K ong (4.0%) in 2012 and the bleak global frugal outlook is fortunately, not much of a stumbling block for Popular Bookstore, with it achieving positive growth in its Retail and Distribution sector. This could to a fault be attributed to the items that Popular plows, which are mostly books (Eg. Assessment books, textbooks)and stationery. The demand for these items has a small, positive value of income-elasticity because they are necessities and normal goods for students. Hence, a decrease in incomes due to poor economic conditions results in a less than proportionate decrease in demand for Populars books , thus Popular has not been badly affected.7. 3 Social Forces In todays world, many deem education as an important tool towards a bump paying job and a better life. Thus, the spending on education, which implicates spending on textbooks, stationery and assessment books, is increasing. For example, in Singapore, the consumer spending on education has been increasing at a steady ra te, from US$ 84. 1 million in 2008 to US$155. 4 million in 2011. (GMID,2012). This shows that Singaporeans are increasing willing to spend on education-related items, such as textbooks and assessment books, to supplement the learning.As a bookstore with a niche product market of assessment books and textbooks, Popular Bookstore is able to benefit from this trend of increased spending in education. With the relatively high inflation rates, especially in Singapore and Hong Kong, consumers are becoming more value conscious. Popular Bookstore has through with(p) well to cater to the demands of the consumers and projecting a value for money image, by offering membership separate and promotions on their items on a regular basis. One of such promotions is the back-to-school promotion, brooking students and their parents to purchase stationery and books at discounted charges.7. 4 Technological Forces The increasing connectivity of the Internet island astray (e. g. 4G mobile network and OpenNet in Singapore) has led to more online consumers. The size of the online shopping market is large, reaching S$1. 1 billion in 2010, and is expected to reach S$4. 4 billion in 2015. (Techinasia, 2011). This could possibly mean that customers who ordinarily purchase from brick-and-mortar shops ilk Popular would at once shop at online bookstores such as amazon or Barnes & Noble. While Popular does have an online bookstore, it is not well-known or often-used.Thus, the presence of well-established international online bookstores become a substitute to Popular Bookstores. Also, the affordability of e-books flowerpot pose a threat to Populars sales of hardcopy books. The price of heighten Fire, an e-book reader manufactured by amazon, dropped to US$159, making it more affordable for consumers. Amazon uses the pricing strategy of loss leader, which involves mount the price of Kindle Fire at cost price, and making signifi toilett profit from the sale of e-books. Therefore, e-b ooks have now become a substitute of hard-copy books, such as those sold by Popular.7. 5 Legal Forces The institution of the Lemon Law in Singapore in September 2012 could affect Popular Bookstores. With the lemon law, consumers can ask for an central or even a full refund if goods do not accept standards of fictitious character and performance. (CASE, 2012). This could mean decreased earnings for Popular Bookstore if consumers keep returning to the bookstores to exchange their purchased goods. Without worthy enforcement or monitoring, the Lemon Law could even be abused by consumers who repeatedly demand for an exchange or refund, leading to a loss of efficiency and profits.However, Popular is unlikely to be threatened by the Lemon Law, as it already has an exchange policy in place, where it al measlys its customers to exchange faulty products within 7 days of purchase. 7. 6 Impact of Macro-Environment Forces on Popular Bookstores Popular Bookstore still remains a strong name i n the book industry. The fact that it has the majority of the market share in Singapore and that the companys PBT has been steadily increasing proves that the company has been staying competitive despite the huge number of macroenvironment factors it faces. 8. Market, labor and matched Analysis for Book Buyers in SingaporeOur selected market is the market of book buyers in Singapore. These include customers who buy books from both carnal bookstores and online bookstores. 8. 1 Market Size The market for book-buyers is that of an oligopoly, with few incumbent firms. Hardcopy book format is still a multi-million dollar industry in Singapore going strong in the face of stiff competition from online book stores. The total market size of brick-and-mortar stores is worth around $165million. In 2011, Popular Bookstores hold about 62. 5% of the total market share, with Kinokuniya (25%) and Times Bookstores (12. 5%) as Populars main competitors. 8. 2 Market Trends.Popular Bookstores is sti ll experiencing a ripening trend as its value sales grew from $4,106 million in 2006 to $5,107 million in 2011. This may be due to the growing affluence of the Singaporean population, resulting in high demand for books for both leisure reading and education. However, this trend great power not insure in the future. This is in light of stiff competition faced from e-books and online stores such as Amazon, Book Depository. Fortunately, Bookstores like Borders and Page One have all exited the Singapore market and thus there is less competition from these large, well-established firms with Popular Bookstores.8. 3 Industry SWOT Analysis for Book Buyers in Singapore Positive Effect Negative Effect InternaStrengths Weaknesses l Popular has a widespread chain of stores throughout Singapore, Low mixing of books as compared to other bookstores such as Factorsespecially in the heartlands. This makes it very neighborly and Kinokuniya convenient for the customers. Lack of awareness o f its online bookstore Wide range of textbooks and stationery with very strong monopoly power Limited choice of books on its online bookstore (e.g. Twilight, over assessment books and textbooks Lord of the Rings, Animal Farm) Existence of prologue and epilogue ( a book cafe located in Poor interface (Survey, 2012) of online bookstore prologue ) to provide an option book-buying experience a novelAbsence of a proper feedback system on its online bookstore brand of book retail therapy, distinctively designed to give a bespoke Under-utilization of Facebook page resulting in inaction and multifaceted life style experience.unresponsiveness prologue was awarded the Premium Service GEM Award for the Books and Stationery kinsperson by the Singapore Retailers Association in recognition of POPULARs effort in delivering magnificent customer service. (Chairmans Statement, Annual Report 2012) ExternaOpportunities Threats l Growing incomes of book-buyers lead to greater demand for books for topical anesthetic brick-and-mortar competitors such as Kinokuniya are trying Factorsleisure and education to improve their presence by setting up a fourth store in Jurong Many of the bottom audience are tech-savvy but have yet to purchase East MRT (JEM) to reach out to more customers. e-book readers such as Kindle or Nook Due to technological advancement, the Popularity and accessibility Well-established firms like Borders and Page One have antecedently left of online bookstores (Amazon, Barnes & Noble, Book Depository) and the Singapore market, reducing the amount of competition e-books is decreasing the demand for hardcopy books at physical stores 8.4 Detailed Industry Analysis of Bookstores Physical Stores Online Stores Kinokuniya Second-hand Bookstores Amazon/Barnes & Noble Book Depository commentary Kinokuniya bookstores are located in central city Various second-hand bookstores in Singapore Both Amazon and Barnes & Noble are Amer ican online retail Book Depository is a UK-based locations, with its flagship store located at Ngee Ann sell many classic and contemporary titles at giants specialized in selling books in both hardcopy and independent online bookstore City. Kinokuniya offers a wide range of titles and as well a extremely cheap prices.e-book formats. They are grouped discussed together in this which sells primarily hardcopy cafe within its store. There are many second-hand bookstores in Brastable due to their similar characteristics. formats. Basah Complex. (Eg. Evernew Bookstore, Pro Saint Bookstore, Book Point, Knowledge Book Centre) Strengths Offers a wide pickaxe of titles in various languages Extremely cheap prices will attract They own an ecosystem of their own through their Kindle and Provides free shipping services, including English, Chinese, Japanese, French, and German consumers looking for a good read.Nook tablet products that al abject readers to buy e-books an d which allows prices of books to Successfully marketed itself as a premium bookstore in Good for casual reading, if the reader is notdownload it to their tablet reader immediately. remain cheap Singapore with majority of its stores in the city area. looking for a particular title Online stores result in decreased operational fixed be suchOccasional discounts of up to 90% Niche market focus on casual book readers as rental charges and staffing cost compared to makes books very cheap Premium membership strategy i.e. More dearly-won membership brick-and-mortar stores. Therefore, they are able to sell card ($21) offering limited discounts to entice consumers both e-books and hardcopy formats at a discounted rate. to purchase more titles to get back their moneys worth. Extremely wide disposition of titles. It is easy to search for titles because the search process is automated. Weaknesses Books are priced higher than its competitors due to its Limited range of titles, especially newer Penetration of their respective ecosystems are not widespread It is relatively unknown to the premium branding and higher rental costs in the city titles, consumers looking for specific books in Asia crowd in Singapore. Limited market penetration due to its limited number of may not be able to keep an eye on what they want. Shipping costs and waiting time negates the benefits of online stores. shopping as price of shipping from America is usually high. Asian titles are not as diverse / rich as they are America-based. 8. 5 Competitive Analysis Using Porters Five Forces 8. 5. 1 Threat of New Entrants The threat of new entrants in the physical bookstore industry is relatively low because there are low barriers to entry. This is due to strong customer loyalty to established players like Popular and Kinokuniya dominating the market, high sunk costs and economies of scale setting in late.Also, the book industry is also deemed as a sunset ind ustry, which is less attractive to firms as this is associated with low profitability, so firms are less likely to enter the market. However, these low barriers to entry only apply to the industry of physical bookstores. Popular still faces a contrastive course of competition from online bookstores, which are close competitors with physical bookstores. 8. 5. 2 Degree of Substitutes There is a high percentage point of substitutability.In terms of physical bookstores, book buyers in Singapore have many alternatives to turn to such as big industry players like Kinokuniya and Times and second-hand stores at Bras Basah Complex. Kinokuniya and Times are strong competitors because they offer a greater variety of books from varied countries, and have marketed themselves as premium bookstores due to their location in the city area. Second-hand bookstores at Bras Basah Complex (Eg. Evernew Bookstore, Pro Saint Bookstore, Book Point, Knowledge Book Centre) are also a threat because they of fer very cheap books.Besides physical stores, online bookstores like Amazon, Barnes & Noble and Book Depository are dominating the book-buying market in Singapore. These online bookstores offer a quick and easy way to purchase books without being physically at the store, and the benefit of having purchases delivered to customers doorsteps. E-businesses can also offer more competitively-priced books than Popular because there is no need to pay for rental, which takes up a huge proportion of fixed cost. For example, Amazon sells a book titled Act of Valour at $9. 99, whereas Popular sells the kindred book at $17.00. Furthermore, with an increased access to fast and free internet services such as those offered by radio setSG, and the availability of safe and convenient electronic payment, e-businesses are becoming closer substitutes to physical bookstores than ever before. 8. 5. 3 Bargaining Power of Buyers The bargaining powers of buyers are relatively low in terms of physical book stores. They have little access to information such as the prices of books, because physical bookstores do not openly publish their prices online, except when there are promotions.Also, most bookstores located in a certain component part would sell books at similar prices, so customers who are unwilling to travel would have a low tendency to switch to other physical bookstores if the switching cost exceeds the savings gained from only slightly cheaper books. However, the increased popularity of online bookstores is likely to increase the bargaining power of buyers. Buyers become less dependent on existing conduct (ie. Physical bookstores) and can now switch to purchasing books online instead. 8. 5.4 Bargaining Power of Suppliers There is low bargaining power of suppliers. In terms of the book-buying market, Popular Bookstores suppliers are mainly publishing firms. Because there are many suppliers in the market that engage in publishing work, there is a low supplier to firm ratio. This means that Popular Bookstore can switch suppliers easily. Furthermore, there is low switching costs for Popular because they can easily turn to their own subsidiaries such as Novum Organum Publishing House Pte Ltd and educational Publishing House Pte Ltd.Also, there is low supplier competition because it is hard for suppliers to vertically integrate and sell the products to buyers directly. Therefore, suppliers have a low bargaining power, which strengthens Populars position and authority. 8. 5. 5 Degree of Market Rivalry Amongst Existing Competitors There is a strong intensity of market rivalry amongst existing competitors like Times, Kinokuniya, and second-hand bookstores. This is because there is a lot of room for differentiation in terms of the four elements in the marketing mix.Product differentiation can come in the form of the variety of books, in terms of the pillow slip matter and country of origin. Price differentiation can also be present as some bookstores have hi gher priced books due to their well-known brand name or location. Place differentiation can be in terms of the store environment and store location, period promotion differentiation can be in terms of level of advertising, frequency of discounts, customer access to publicity materials and staff service standards.Therefore, bookstores face much competition amongst themselves because there are so many ways that they can classify themselves in providing the optimal book-buying experience for book-buyers in Singapore. 9. Customer Analysis and Segmentation for Book Buyers in Singapore 9. 1 Customer Profile Book Buyers in Singapore The selected market of focus for Popular is book buyers in Singapore. Potential book buyers are any literate customers in the country, from 6 years-old onwards (Stuart, 2010).This customer base is continuously growing, albeit at a slow rate due to the low fertility rate in Singapore (Wong, 2012). Majority of Singaporeans are literate (Department of Statistics Singapore, 2012) as they have basic primary education which is mandatory for all citizens (Ministry of Education Singapore, 2011). In addition, an influx of foreign talents from other countries to support Singapores infrastructure and economy (Yeoh & Lin, 2012) also increases the number of book buyers in Singapore. The incomes of book buyers can be inferred from the Singapore Department of Statistics.The average monthly household from work including employer CPF contributions among resident employed households in 2011 was S$9,618, period the average monthly household income from work per household member including employers CPF contributions among resident employed households was S$2,925. These incomes have a generally increasing trend from past years, and were the highest in 2011, reflecting the increasing affluence of book buyers. Because books are normal goods, an increasing income of customers would increase the demand for books.However, since the selected market of focus is s olely referring to individuals, businesses or organizations are not included and revenues are not considered. To develop an effective marketing strategy, it is essential to understand the targeted customer base and its segments. Comprehensive profiles of a companys target customers are often required, and this is done by expending resources to segment these target customers. Book buyers can be segmented according to demographic and psychographic factors. 9.2 Demographic Segmentation Popular segments its market by key variables such as gender, age, education, race, nationality and the family life cycle. For the denomination variable of gender, books relating to beauty and the domestic sphere such as recipe books cater more to women, temporary hookup the genre of sports and cars appeal more to men. In terms of age, segmentation is characterized by ones life cycle, as exemplified by pre-school books, children books, teenage fiction and magazines, adult fiction and self-help books, et c.The companys ism of knowledge and education (Chua, 2010) has been manifested in the common sentiment that Populars niche is in assessment books and textbooks (Survey, 2012) and is a large portion of the customer base of book buyers. This demonstrates how the market is segmented by education, as books are tailored to the needs of students in each stage of education primary, secondary and tertiary, and also for students in different disciplines business, finance, management, etc. The market is also segmented by race, as there are books in different languages such as English, Chinese, Malay and Tamil.The variety of books in the Singapore & South East Asia and Asian Collections also show that the market is simultaneously segmented by nationality as well. Finally, the family life cycle is also an important variable as Populars books cater to the needs of different families at different parts of the cycle, providing books on sports and leisure for families without children, and books on parenting and health for families with children, etc. 9. 3 Psychographic Segmentation The identification variables of personality, lifestyle and social class also come into play for the selected market of book buyers.Based on the variety of genres provided by Popular such as fiction, classics and literature, comics and humour, astrology and new age and self-improvement, it can be seen that Popular designs its catalogue to appeal to different people with distinct personalities. Likewise, in the culturally diverse Singapore with an immanent cosmopolitan lifestyle, Popular recognizes the importance of suiting the needs of various individuals by offering a selection of books for every lifestyle, such as books on cooking or food and wine, outdoors and nature, photography, travel, etc.The different social classes have also ledto Populars expansion in the market, as illustrated by the novel brand of book retail therapy seen in prologue (Popular Holdings Limited, 2009) to cater to th e higher-income class, which has an upscale identity that is quite different from the family-oriented, fluorescent-lit heartlander look and feel that Popular bookstores have come to embody (Lui, 2009). 10. selling Objectives Populars main objective is to establish a strong regional presence by becoming a primaeval Clearing House for both English and Chinese books in the Asia Pacific Region (Populars strategic Vision 2012).As such, their marketing objective is to offer a wide variety of books with relevant, unique, and good quality content at value-for-money prices. (Populars Strategic Vision, 2012). Next, Popular aims to differentiate itself from both brick-and-mortar bookstores and online bookstores which both serve the same book-buying market. This is especially important because Popular is in an oligopolistic market and faces strong competition. These brick-and-mortar bookstores include the well-established Kinokuniya, Times and Big Bookshop, and second-handbook stores, while o nline bookstores include Amazon and Barnes & Noble.Thus, Populars marketing objective is to capture a larger market share through differentiation. Lastly, in terms of the variety of books, Popular aims to be the largest and most innovative newspaper of bilingual books (Populars Strategic Vision, 2012). It attracts publishers like Seashore Publishing (M) Sdn. Bhd. to Singapore, which dominates the market for bilingual cookbook and general-interest mandarin orange tree books. Through its books, Popular also intends to promote the Chinese language, heritage and culture.For instance, Popular organised the National Chinese Creative Reading Competition during the BookFestSingapore 2011 to make students more aware of and stimulate their interest in Chinese culture and heritage through creative reading (Chairmans Statement, Annual Report 2012) 11. Marketing Strategy / Mix 11. 1 Branding and positioning Popular portrays an image that it is a one-stop station where consumers are able to find whatever they need. This image is especially relevant since Populars main target group is the masses who usually read best-selling books written by well-known authors.To capture a larger consumer market and establish a strong regional presence, Popular has also ventured into overseas markets such as Malaysia, Mainland China, Taiwan and Hong Kong. 11. 2 Price Popular has adoptive different pricing strategies for Popular and Prologue. Prologue has adoptive a premium price position for their products. This strategy of prestige pricing is appropriate as Prologue is targeted at the higher end consumers who would be willing to pay higher prices. On the other hand, Popular has adopted mainstream price position for their products.The products offered by Popular is at a rather affordable price since it is mainly targeting the majority of the population. Furthermore, Popular offers products at competitive prices compared to other bookstores. With its membership card, Popular offers bring fo rward discounts on the prices of its products and this further enhances its competitiveness in the industry. In addition, Populars membership card can be acquired at a low cost (e. g. $20 for 3-year membership for students), as compared to other bookstores, such as Kinokuniya ($55. 60 for 3-year membership).11. 3 ProductPopular believes that in order to stay relevant with changing consumers taste and preferences, they should continue to innovate by selling new products. Hence, in 2009, Popular opened UrbanWrite and prologue . UrbanWrite, a lifestyle stationery concept store that goes beyond the basics, offer slightly different products such as glass book materials, stationaries that are not available at Popular Bookstore. With new concept stores under Popular, such as prologue and UrbanWrite, it is pertinent to ensure that Popular does not lose its identity as a one-stop station to avoid confusion amongst its consumers.