Seated in the city of heroes - Shijiazhuang, Wang Yang (a fictitious name) is full of hesitation and ambition! After leaving a well-known international dairy company, Wang Yang quickly joined this domestic dairy products enterprise, which is characterized by its hotel sales channel, as the marketing director. In recent times, after gaining a systematic understanding of this dairy products enterprise, Wang Yang has reached a conclusion: the company needs to adopt new product strategies and brand strategies to achieve sustainable growth.
Firstly, Wang Yang painfully discovered that although the company had been operating for nearly 10 years with impressive revenue and profits, its brand recognition among target consumers was very low! With great determination, Wang Yang advised the boss that it was essential to introduce a new brand because only by establishing a brand competitive advantage could the company build a long-term competitive edge.
Secondly, there was an issue with the product structure. This well-known northern dairy products company mainly produced lactic acid bacteria milk products. However, due to its choice of operating through the catering channel, these lactic acid bacteria products, which retailed for around 10 yuan in large distribution channels, were sold at hotels for approximately 20 yuan. Wang Yang believed that the company had significant blindness regarding its own product structure. There were also blind spots in consumer insights. Given this, Wang Yang proposed redefining the target audience to meet the need for targeted promotional plans for products at hotel terminals.
Thirdly, through market research, Wang Yang discovered that there was still much room for improvement in the pricing of these products. He further advised the CEO that if our product prices could not adequately cover costs, it would leave a huge space for competitors to attack. Wang Yang used a quick consumer goods price range chart to analyze for the CEO that we needed to embed a new price tier within the existing price range to maintain the stability of current product prices while creating some barriers against competitors.
Fourthly, during channel research, Wang Yang found that the product competitiveness in the hotel terminal channel system had declined, and distributors' expectations for the original products had also decreased. Therefore, Wang Yang suggested introducing a new product in the channel to activate the channel system and effectively integrate it with the original product.
Based on intensive market visits for this dairy products enterprise, when Wang Yang returned to the headquarters in Shijiazhuang, the prototype of a new product had already formed in his mind.
Wang Yang's consumer insight and description of this product demonstrated his acumen as a senior professional manager from a multinational company: "Our main consumer group for this product is women." Not only that, through a deep description of the target consumers of this hotel dairy product, Wang Yang outlined the core value proposition of this product's consumers.
Users: White-collar workers, civil servants, business owners or their partners, families. They lead a refined life and pursue taste. Due to sufficient economic power and desire, even if they are busy, they will allocate time to pursue a sophisticated high-quality life. The men around them are also willing to spend money on them, so they are often users rather than buyers. Compared to men, they pay more attention to the quality of life and the pleasure of living. They prefer rational things.
External characteristics: One, they are young, generally between 25 and 40 years old, mostly around 30; two, they have a higher level of education, usually with a bachelor's degree or above, especially university graduates after the 1990s; three, medium income, mainly referring to disposable income or net income, generally between 20,000 to 50,000 yuan.
Internal characteristics: The consumption (value) concepts, self-experience, self-expression, and lifestyle factors of this class group interact and influence their purchasing or consumption behavior. Conceptually, they focus on personal growth, are willing to accept new things, advocate the combination of work and entertainment, and support independent living and cooperative consumption. They are becoming increasingly rational, personalized, and emotionally driven; their needs have shifted from seeking practicality to seeking self-experience and self-expression. They are becoming more confident and independent. In terms of lifestyle, they are important consumers of projects such as self-image and personal growth. They fear obesity and aging, pursue fashion without compromise, and hope to enjoy a healthy and happy life. Generally speaking, the factors influencing their consumption in order are brand, self-image (experience), quality...
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