Hoi Tin Tong has established in 1990. It mainly provides fresh herbal products, especially Gui Ling Gow, for its target market. It has over 80 chains retail stores in Asia market. Although it has distinctive market share and strong market brand name in its target market, it will face to other challenge from internal and external environment like the changing of lifestyle and high competitive in its target market. Therefore, our company which named is Innovation consultant will propose the new marketing and communication strategic plan that can achieve its company objective as well as make benefit to Hoi Tin Tong.
2. MARCO ENVIRONMENT FACTORS AND ISSUES
With the analysis on Macro-environment factors and issues, there are three aspects of Hoi Tin Tong for further elaboration. They include lifestyle analysis, social-cultural and psychological characteristics.
We found that the young generation is in common. They work hard, play hard and sleep late. They are easily faced the health problem with some symptoms such as easy to get tired, easy to get cold, have pimples on their faces and have bad breathe.
In fact, the young generation is really health conscious. They would like to find an easy way to improve their health situation. This is the potential market and is worth for Hoi Tin Tong to explore.
2.3 Psychological characteristics
Unique product selling provides satisfaction for the needs of the young generation. Gui Ling Gow candy is the unique product for Hoi Tin Tong to invest for further promotion.
3. CHALLENGE OF HOI TIN TONG
Hoi Tin Tong also faces different challenge in its business such as lack of celebrity, limitation of target market and similar products in the same market.
3.1 Lack of celebrity
Though Hoi Tin Tong invited its CEO Mr. Ng Hoi Tin as the spokesperson, it helps to promote its product to some segmentation such as the adult and the elderly to certain extend. It can easily been seen that from its promotional method by using black and white TV drama as its TV commercial. Its traditional interior furnishing flagship store attracts many adult customers. For the young generation, Hoi Tin Tong must consider to appoint another celebrity as its spokesperson to promote its new product.
3.2 Limitation of target market
As Hoi Tin Tong is focus on the market for adult and elderly, the limitation of target market is another challenge which affects its business growth.
3.3 Similar products in the same market
They are similar products in the market is another challenge for Hoi Tin Tong. There are many competitors like Kung Wo Tong, Hung Fook Tong, Health Work and Hui Lau Shan. The new product launch of Gui Ling Gow candy can help Hoi Tin Tong to differentiate its product in the herbal product industry and also can help to boost sales.
4. TARGETING AND SEGMENTATION
Amount all the competitors, we put ourselves in a new target market and brand new marketing positioning. First of all out new target market for the age group who are 18 to 25, which are college student of fresh to the workforce, we choose this age group is because they are so will to spend rather than saving money so that’s mean they have a huge potential purchase power, unfortunately most of these people within this age group have insufficient knowledge of Chinese health product that’s why this market is not easy to approach. Therefore we develop a new market positioning of Hoi Tin Tong which provides high quality product but the price is lower than before.
5. MARKETING OBJECTIVE
To increase 10% sales volume in the target market in the next 12 months.
6. MARKETING COMMUNICATION OBJECTIVE
We determine a key message “health can be simple” through different promotional tools which aim for our communication objective to be increase 10% brand awareness in 12 months time. Besides, we have chosen media as our main promotional tools...