Group report part 2 - Grade: A- PDF

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Report part 2 Marketing...

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Foot massager industry analysis Industry Analysis of foot massager Industry This report will provide an industry analysis for the food massager industry, discussing the attractiveness of the industry regarding sustainable profitability. the report predicts the global massage equipment market to grow with a CAGR of 5.9% over the forecast period of 2018-2024. The massage is regarded as a mainstream therapy and is now been highly recommended by more and more doctors and medical experts. It is also been recognized as the whole-body healthy program. Massage therapist are expensive, and it is usually taking a long time to make appointment. Thus, in order to let massage, become convince for people to do at home, massage equipment’s have been invented. Massage equipment includes back massager, neck & shoulder massager, leg & foot massager, eye massager and hand-held massager. These massagers relieve muscle tension & pain, improves sleep, reduces stress & anxiety and decreases inflammation. Industry Background The industry that we chose is the foot massager industry. and we are focusing on foot massagers on the internet. We search foot massagers on eBay and amazon because they are the largest online purchase platforms. Industry Players. We are focusing on the big three, which are MARNUR, Nekteck, and RENPHO. These three foot-massager brands which receive best reviews on the amazon and eBay. Throughout this report. We are doing this in order to have a point of comparison between the big three and other players in the market.

Geographic Market. Although we are focusing on domestic foot massagers, many of the foot massagers export their products overseas, while some focus domestically. As per Institute of Medicine (IOM), at least 116 million Americans suffer from some form of chronic pain. This number is greater than those affected by heart disease, diabetes and cancer combined. Joint and muscle pain affects us all, but it is particularly heightened amongst the senior citizens and the geriatric population of a country. An ageing population, especially in North America, Europe, Japan and China can be reasonably assumed to be a key driver of the foot massagers Market. These massagers provide quick and significant relief from either incidental or chronic foot pain. There is also a noticeable trend where people wish to be massaged from the comfort or privacy of their own homes. Hiring a personal masseuse is not feasible for everybody since it is a very costly affair. The second driver of the foot massagers market is the rising disposable income in the developing world, along with premium massagers being available on ecommerce platforms. Customers are increasingly willing and able to purchase advanced foot massagers which provide luxury experiences. Some massagers even have so-called ‘smart’ features, and these can be instantly ordered online at the click of a button. This is anticipated to positively impact the growth of the foot massagers

market in the forecast period. Market size: The global market size of massage equipment market was worth 4.38 billion by 2021, at a CAGR of close to 6% over the forecast period. Massage equipment helps in reducing muscle tension and pain that is caused mainly due to tightening of muscles caused during a rigorous workout or due to sitting at desk all day long. Massage stimulates the circulation of blood and help to bring oxygen-rich blood and nutrients to the muscles and other major organs of the body. It also helps in improving sleep and reduces stress & anxiety levels caused mainly due to work pressure in organizations. Furthermore, massage equipment saves time and money, as one does not have to set some time apart from their busy schedule, to book an appointment with therapist. Massage equipment comes in wide range of application that is suitable for people with all ages and can be shared by multiple people. Owing to factors, massage equipment market is growing at a steady rate. However, high cost of massager and non-availability of diverse massage equipment’s in developing countries is likely to hinder the growth of the massage equipment market.

https://www.businesswire.com/news/home/20170228005513/en/GlobalMassage-Equipment-Market-Size-Projected-Reach https://www.apnews.com/943fb59f047344a0a2194089db006818 https://www.reportlinker.com/p05442008/Massage-Equipment-MarketGlobal-Industry-Analysis-Trends-Market-Size-and-Forecasts-up-to.html

SWOT analysis S: strength 1: more and more people are under high pressure. They need massagers to help release. Strength 2: foot massager is easy to carry. People can bring them to workplace or travel Strength 3: foot massage has lots of benefits. Not only for feet but also for the whole body. W: Weakness 1: most foot massagers are very expensive. Not everyone can afford one. Weakness 2: foot massager has to be connected to electrical outlet. Weakness 3: foot massager makes noise while it is working O: Opportunity 1: most athletes feel tired on foot after their training. Foot massagers can

be sold in the gym Opportunity 2: foot massagers are healthy for body. They can be sold in the hospital Opportunity 3: foot massagers are born in Asian area. Sell these products in china town or Asian Gathering place can be very helpful T: Threat 1: massage shop can be the biggest threat because people can be more skillful than machine. Threat 2: foot massagers are much cheaper in Asian area. Threat 3: most hot tub has similar function as foot massagers. Many people may not buy one when they already have their bath tub,

Customer analysis Foot massager exists to satisfy the consumers’ needs. There is various strength of massaging for customers to choose. People can choose the most suitable strength of massaging for them. The target customers of foot massagers are athletes and students. Most athletes feel very tired after their training. Most students are facing very big challenges and stress in nowadays because of exams and future career. Foot massagers can help them release their stress and pain in their muscle....