Propolis to be selected for winter promotion
12/13 examination Question 2
A,) chapter 7 p. 47
The characteristics of Chinese medicine in maturity stage
Product sales growth slows down, peak sales and drop in profit
- the maturity stage normally last longer than the introduction and growth stage
Most product of Tung Fong Hung is at maturity stage, therefore, the company has to consider new marketing strategies to deal with mature product
B,) chapter 7 p. 47
Marketing strategy:
1, modifying the market
Increase the consumption of current product of TFH, look for new users and market segments
For example: Chinese medicine for youth market, pills or herbal medicine for youth market
For example: distribute to overseas market such as Europe, Africa…...
2, modifying the product
- change characteristics such as quality, features, or style to attract new users, for example, fashionable packaging, sugar coated pills and easy to swallow, change retail store image etc. (作的)
- may add new features to expand the product’s usefulness, safety or convenience, for example, introduction of herbal medicine powder
3. modifying the marketing mix
- increase sales by changing one or more marketing mix element
- Price: match to competitors, such as Yu Yan Sang
- Distribution: build more retail stores or distribute to convenience stores to strengthen the intensive distribution
- Promotion: stress brand difference and benefits by heavy advertising campaigns and aggressive sales promotion, such as TV advertisement and print advertisement on health magazines, sales promotion on seasonal basis, collaborate with credit cards to increase sales volume
2012/13 Semester 2
1,) chapter 8 p. 50
A) (i) Right price---profit (ii) If price is too high, sales loss. If price is too low, lose return on investment. B) Five factors: p. 53-55 i. marketing objectives and strategies – product positioning ii. product costs – rates of return iii. the natures of market and demand
–
A,) chapter 7 p. 47
The characteristics of Chinese medicine in maturity stage
Product sales growth slows down, peak sales and drop in profit
- the maturity stage normally last longer than the introduction and growth stage
Most product of Tung Fong Hung is at maturity stage, therefore, the company has to consider new marketing strategies to deal with mature product
B,) chapter 7 p. 47
Marketing strategy:
1, modifying the market
Increase the consumption of current product of TFH, look for new users and market segments
For example: Chinese medicine for youth market, pills or herbal medicine for youth market
For example: distribute to overseas market such as Europe, Africa…...
2, modifying the product
- change characteristics such as quality, features, or style to attract new users, for example, fashionable packaging, sugar coated pills and easy to swallow, change retail store image etc. (作的)
- may add new features to expand the product’s usefulness, safety or convenience, for example, introduction of herbal medicine powder
3. modifying the marketing mix
- increase sales by changing one or more marketing mix element
- Price: match to competitors, such as Yu Yan Sang
- Distribution: build more retail stores or distribute to convenience stores to strengthen the intensive distribution
- Promotion: stress brand difference and benefits by heavy advertising campaigns and aggressive sales promotion, such as TV advertisement and print advertisement on health magazines, sales promotion on seasonal basis, collaborate with credit cards to increase sales volume
2012/13 Semester 2
1,) chapter 8 p. 50
A) (i) Right price---profit (ii) If price is too high, sales loss. If price is too low, lose return on investment. B) Five factors: p. 53-55 i. marketing objectives and strategies – product positioning ii. product costs – rates of return iii. the natures of market and demand
–