Section A: Application Question (30 marks) ORCE: MAKING FOUNDATIONS FOR ASIAN SKIN Ms Shih, who was born in Taiwan, laun

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Section A Application Question 30 Marks Orce Making Foundations For Asian Skin Ms Shih Who Was Born In Taiwan Laun 1 (123.11 KiB) Viewed 29 times

Section A: Application Question (30 marks) ORCE: MAKING FOUNDATIONS FOR ASIAN SKIN Ms Shih, who was born in Taiwan, launched the brand Orce in Singapore - its first venture outside the United States - with the Come Closer Skin Perfecting Foundation and Setting Powder offering six shades via tangs.com one month ago Orce's formula is developed specially for Asian skin. Designed as a foundation-serum, it has three star ingredients said to be especially beneficial to Asian skin-hyaluronic acid, hydrolised Tahitian pearls and evodia fruit extract, which is used in traditional Chinese medicine to treat colds, but can also improve the texture and radiance of Asian skin. Despite launching barely a year before the pandemic hit, Orce saw rapid growth in 2020, with sales almost doubling year on year. Given the limited financial resources, Ms Shih is exploring several options for growing her business further in Asia. After Singapore, she is considering expansion to the rest of South-east Asia, China, Canada and Australia - "markets that have huge Asian populations who are in that in-between space of not quite subscribing to the Japanese or Korean aesthetic, but are also not having their needs met by the Western brands". She is planning to expand her product line to include more shades - however she is aware that she needs to invest time and money to test these new shades with her customers and social media community to adjust the samples based on feedback. She also realizes she needs to expand the number of retail stores in Singapore to make her Orce brand more accessible to customers. Ms Shih is now at a dilemma to determine which option she should adopt first to help her business grow steadily without incurring high investment costs. Adapted from The Straits Times article titled: "Making foundation to celebrate Asian skin' dated 18 February 2022 written by Amanda Chai. 1. Identify and describe the SIX (6) steps in the decision-making process Ms Shih should undertake in choosing the best option to grow her business in Asia without incurring high investment costs. (30 marks)