Eu Yan Sang- Marketing to Modern Asian Consumer

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ational University of Singapore Business School Master of Business Administration Marketing Management (BMA 5009)

Group Final Project:

Marketing Eu Yan Sang to the Young, Modern Singapore Consumer

8 November 2010

TABLE OF CO TE TS
EXECUTIVE SUMMARY 1. 2. I TRODUCTIO ........................................................................................................ - 1 EYS OVERVIEW ........................................................................................................ - 2 2.1 2.2 2.3 3. History..................................................................................................................... - 2 Brief Financial Highlights ....................................................................................... - 2 EYSI’s Modernization Efforts ................................................................................ - 3 -

MARKET OVERVIEW A D COMPETITORS ..................................................... - 6 3.1 3.2 3.3 3.4 3.5 3.6 Singapore Demographics ........................................................................................ - 6 Consumer Preferences in Singapore ..................................................................... - 10 Trends in Singapore TCM Market ........................................................................ - 12 New Product Opportunities in Singapore TCM Market ....................................... - 14 Regulatory Environment ....................................................................................... - 17 Competitors ........................................................................................................... - 18 -

4.

SWOT A ALYSIS .................................................................................................... - 23 4.1 4.2 4.3 4.4 Strengths................................................................................................................ - 23 Weaknesses ........................................................................................................... - 24 Opportunities ......................................................................................................... - 26 Threats ................................................................................................................... - 28 -

5. 6.

MARKETI G CHALLE GE ................................................................................. - 30 MARKETI G STRATEGY ..................................................................................... - 31 6.1 6.2 6.3 Strategy ................................................................................................................. - 31 Marketing Campaign: “Eu Yan Sang – The Modern Face of TCM” ................... - 32 Objectives and Desired End Result ....................................................................... - 33 -

7.

RECOMME DATIO S........................................................................................... - 34 7.1 7.2 7.3 7.4 7.5 Marketing Campaign: Search for “The Modern Face of TCM” ........................... - 34 Modern TCM educational website: “TCM Today” .............................................. - 35 Retail and Distribution .......................................................................................... - 36 Marketing and Product Innovation Partnerships ................................................... - 38 Developing a Sub-Brand targeting Young Consumers ......................................... - 39 -

8.

IMPLEME TATIO TIMELI E & CO CLUSIO ......................................... - 45 -

APPE DIX ........................................................................................................................ - 47 -

EXECUTIVE SUMMARY This paper evaluates the position of Eu Yan Sang International Ltd. (“EYSI”), owner of the “Eu Yan Sang (…,‡y‚Ç brand, in the growing Singapore Traditional Chinese )” Medicine (“TCM”) market. EYSI...
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