BBEK1103.docx - BACHELOR OF HUMAN RESOURCE MANAGEMENT WITH HONOURS MAY 2019 BBEK1103 PRINCIPLES OF MICROECONOMICS MATRICULATION NO IDENTITY CARD NO

BBEK1103.docx - BACHELOR OF HUMAN RESOURCE MANAGEMENT WITH...

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BACHELOR OF HUMAN RESOURCE MANAGEMENT WITH HONOURS MAY / 2019 BBEK1103 PRINCIPLES OF MICROECONOMICS MATRICULATION NO: IDENTITY CARD NO. : TELEPHONE NO. : E-MAIL : LEARNING CENTRE : JOHOR BAHRU
99 SPEEDMART SDN BHD COMPANY PROFILE 1.0 INTRODUCTION Speedmart Sdn Bhd is an organization which is selected to analyze to complete the assignment for this subject. 1.1 COMPANY BACKGROUND Let me introduce the history and introduction about 99 Speedmart. 99 Speedmart was founded in 1987 as Pasar Raya Hiap Hoe by the founder Mr. Lee Thiam Wah in Tepi Sungai, Klang. This humble beginning has allowed Mr. Lee to gain firsthand knowledge and insights into the sundry retail market through personal interactions with customers and suppliers. In the midst of 1992 to 1998, the very first store that bore the name “99” opened in Klang Utama. Pasar Mini 99, represented the very first step Mr. Lee took to realize his vision of building an integrated chain of mini-marts. Image below on the left shows the first store of Pasar Raya Hiap Hoe in year 1987. Image source : In the year 2000, amidst the growing popularity of Pasar Mini 99, 99 Speedmart name was launched with new store opening at Batu Belah, Klang with an intensive expansion strategy geared to help the chain increase market penetration and share. It represented more than just a rebranding exercise and entails the introduction of a fresh approach in interior as well as exterior set up to enhance the visibility of the shop and the comfort of shopping.
Image source: In the year 2002, a new head office and distribution centre was completed in October 2002 at a cost of RM6.5 million. This warehouse is a 80,000 square feet facility, complete with centralizes stacking, storage, and warehousing capabilities. Image source: In the year 2006, 99 Speedmart received its first Consumer Choice Award from the Ministry of Domestic Trade, Malaysia. This milestone marking award proved 99 Speedmart’s success in winning customer’s hearts and minds. The second distribution idea was conceived in late 2007, and completed by July 2008.
Image source: Therefore, our slogan is NEAR ‘n SAVE. This slogan basically means that, 99 Speedmart is near and do not have to travel far in buying your daily needs hence, saving your expenses. Image source:
2.0 EXPLANATION ON THE REASON WHY THE CHOSEN COMPANY IS IN THE MONOPOLISTIC MARKET BASED ON ITS CHARACTERISTICS A monopolistic market is a theoretical construct that describes a market where only one company may offer products and services to the public. A monopolistic market is the opposite of a perfectly competitive market, in which an infinite number of firms operate. In a purely monopolistic model, the monopoly firm can restrict output, raise prices, and enjoy super-normal profits in the long run (Caroline B., 2019).

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