Marketing

Topics: Traditional Chinese medicine, Marketing, Retailing Pages: 21 (4919 words) Published: November 30, 2013
HealthWorks (Herbal Tea) Co. Limited

TABLE OF CONTENTS

Section 1​Identify its market opportunity
Section 1.1​Project Overview​
Section 1.2​Understanding Market Opportunities
Section 1.2.1​The Seven Domain of Attractive Opportunity​
Section 2​Analyze its differentiation and positioning
Section 2.1​Target Market of Healthworks​
Section 2.2​Brand Differentiation and Positioning​

Section 3​Evaluate its current marketing strategy and programs Section 3.1​HealthWorks 4P Marketing Strategy and Program​ Section 3.1.1​A Distinctive Product​
Section 3.1.2​New Product Description​
Section 3.1.3​Branding Decisions​
Section 3.1.4​Package Decision​
Section 3.1.5​Services Decisions and Warranties​
Section 3.2​Price Decision​
Section 3.3​Place (Distribution Channel Decision)​
Section 3.4​Promotion Decision​

Section 4​Provide recommendations to increase current performance with justification Section 4.1​​
Section 4.2 ​​
Section 4.3​​
Section 4.4​​
Section 4.5​​

Section 5​Selected Bibliography​
Section 1​Identify its market opportunity
Project Overview and Background
Introduction

HealthWorks (Herbal Tea) Co. Limited is a Hong Kong based SME company started in 1989 and its business includes both manufacturing and retailing of Traditional Chinese Medicine herbal food and beverage products. Client wants to gain more market shares in the herbal drinks retail industry as compared with its competitors in Hong Kong such as Hung Fook Tong (鴻福堂), Hoi Tin Tong (海天堂), Original Taste Workshop’s (原味家作), Hui Luo Shan (許留山) etc. and numerous small local players. This proposal outlines the strategy for Healthworks to accomplish it objective and goal.

Section 1.2.1​The Seven Domain of Attractive Opportunity

. Market Domain
 Macro-Level of Market Domain
1. Market Attractiveness
 According to the statistic from the top 5 players in the herbal tea retail market, there are around total 258 herbal tea stores in the market and Healthworks counting 9% of the market share and the majority shares owned by Hung Fook Tong (鴻福堂) at 33% and Hoi Tin Tong (海天堂) 34% respectively. We believe the market size is still expanding each year and Healthworks has good potential to growth as big as the two major players (nearly 90 outlets) in market.

Majority Market Share of Herbal Tea Retail Business

健康工房

鴻福堂

海天堂

恭和堂

許留山

Total
HK香港

6
12%
14
27%
20
39%
2
4%
9
18%
51
KLN九龍

12
11%
34
31%
32
29%
7
6%
25
23%
110
N.T. 新界

6
6%
36
37%
35
36%
1
1%
19
20%
97
Total
24
9%
84
33%
87
34%
10
4%
53
21%
258

2. The Demographic Environment
 Ageing population and increasing health consciousness drives the growth of the consumer health industry.  The growth in the demand for care of chronic health conditions is increasing. In Hong Kong, 28.1% reported to have chronic health conditions. (see appendix 1)  Hong Kong people strive to find different ways to enhance their body health where consumption of food is the fastest and easiest way to achieve.  Awareness of health concept of the rising health-consciousness of many consumers also saw them shift away from drinks which are high in sugar level towards healthy drink with natural ingredients.  Middle aged and elderly people tend to be more health conscious and will often seek out food and beverage products that can help them to maintain their physical and mental health as they grow older.

3. The Socio-cultural Trend
 Drinking Chinese Herbal tea as daily health maintenance support has been in our South Chinese cultural heritage for many decade. Elder generation used to boil Chinese herbal tea at home and gave to the whole families to consume occasionally. Nowadays such cultural habit has been evolve and modify into the convenience bottled herbal tea drink which can be bought from the herbal tea shops around HK. 4. The Technological Trend

 The renowned academic...
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