My
Management professor assigned me last week about a current Management Strategy
that interests me and I have decided to do a research on Lazada. And boy, was I
surprised to have found out that there is so much potential in this
organization!
To
give you an overview of the organization, Lazada Philippines is one of the most
talked about consumer brands in the Philippines. What started out as a business
incubator for the Samwer Brothers, turned into a successful business venture in
Southeast Asia today. The Lazada website itself is at the Top 20,000 websites
in the world. What makes this organization interesting is that last
September 2012, the secured over $50 million of funds from JP Morgan Asset
Management to continue operations in Southeast Asia. That in itself implies
that Lazada has a large potential in its target region and to have received
that kind of amount in funds must mean that they have a solid strategic plan to
make their operations successful.
Lazada
Philippines was launched in February 2012 together with its other counterparts
across Asia in Indonesia, Thailand, Malaysia and Vietnam. Lazada Philippines
has a myriad of products from Computer Products, Cameras and Tablets to
Clothes, Toys and Beauty Products. They have established a strong connection
base with other brands across the Philippines and they have applied the
"Differentiation Strategy" in their Management Style. What they did
to make customers perceive that they are different is that they give good
quality service, good bargain for their prices and sometimes mark down some
prices of original products for the customers to save money giving them the
popularity that they are so widely acclaimed for.
What
makes this different from their competitors is that all products are brand new
have gone through quality control unlike in E-Bay Philippines, that you rely on
photos to assure you that their products are in good condition when the seller
tells you that their product is in good shape. Customers perceive them as being
superior because they know that the products that Lazada offers range from
widely known items to items that you don't come across in malls everyday,
giving them an edge in the online business market. Also, unlike E-Bay that only
uses credit cards and Paypal as their source for transacting with clients, Lazada
offers a wide variety of payment methods like using debit cards, cash on
delivery and Banco de Oro credit card installments which not a lot of online
shopping websites offer for their clients in the Philippines. By doing these
modes of payments, customers can be assured of warranties and return policies
thus minimizing the risk for products that are not in good condition and
customers giving bad reviews about the organization.
Just
this year, Lazada was chosen as the Best Online Shopping Mall at the prestigious
Golden Globe Awards. Considering Lazada as an early entrant to the online
shopping websites, it has come a long way for a year of operations. What makes
this company more interesting is that they cater to the Southeast Asian market
so their target is narrow and is not hard to improve upon unlike if they chose
to go global.
When
I browsed through the website itself, I found many awesome deals and even
bought a cellphone that was in sale. It is a perfect channel for people who
want to buy something without having to go to the mall and having that item
delivered right at your doorstep. Also, this website would be helpful for
thinking of presents that you want to give to your friends or family. With just
a couple of clicks, you can already access a wide variety of items that you can
give to mom, dad, brother, sister or even your special someone. You won't have
to go around the mall all day searching for the perfect gift; all you have to
do is to go to their website and browse all their available products to find
the perfect item to give to your loved ones. Overall, Lazada is very effective
and efficient, giving their customers the utmost convenience of shopping right
at home.
Lazada is one of the biggest online shops nowadays because of their enthusiasm to bring their customers the best value of their money. By the way, like Lazada, I recommend Shop This Easy, you can reach them through their website: http://www.shopthiseasy.com/.
TumugonBurahinWhat I like about lazada is they are very out-of-the-box and bold with marketing and advertising budget unlike every typical business that would hold funds and for it to be focused on growth, hiring people just to say they are growing and growing very fast, sooner or later those businesses will surely shutdown, good for them :) An ebay like website that I can recommend (Although not in the same niche as lazada) is http://nakamenos.ph/ check them out if you plan to settle on second hand items.
TumugonBurahin