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Edit Comment Close Premium member Presentation Transcript GIM China 2005Marking Mix: May 4, 2005 GIM China 2005 Marking Mix Ricardo Cristovao Balau, Ben Chuba, Lewis Lau, Livia Sun, Janelle Weaver Slide2: Introduction IPG Project Overview As China becomes an increasingly important consumer market, Western marketers are faced with the challenging question of how to re-think their brands’ homegrown marketing strategy to succeed in the Chinese market Primary / Secondary Research Success vs. Failure Case Analysis Marketing Mix Recommendations HBA Market (Toothpaste) Chinese CPG Market Motivation Approach Key QuestionSlide3: Marketing Framework Used Marketing Mix: 7-M vs. 4-P Optimal Value Proposition Product Price Promotion Place “7-M” Framework Correspondence with the “4-Ps”: More comprehensive version of the popular 4-Ps framework 4Ps present two major limitations: Absence of separate service and image (brand) components Brand image critical for Chinese consumers “Promotion” includes two discrete types of marketing activities: incentives and communications 7-M is a more robust model for understanding key marketing requirements for successfully managing HBA brands in China Rationale for Using the “7M” Framework The Toothpaste MarketOverview: The Toothpaste Market Overview Facts & Figures Chinese personal care products market $6Bn in 2003 7.4% CAGR from 1993-2003 Toothpaste sales expected to be $7.6 Bn by 2008 2xs larger than US by volume, half as large in $ Chinese consumer Image Conscious Adventurous Prone to brand switching The Toothpaste MarketHistory: The Toothpaste Market History History 100% toothpaste penetration Local leader Zhong Hua brand Acquired by Unilever Colgate current #1 player 1991: JV with Jievin 1999: revenues over 1Bn Yuan Market Share 30% Crest current #2 player Comparison CaseSelected Companies: Comparison Case Selected Companies Success Colgate Introduced premium brand Priced 2-3xs higher Launched low-priced version Trickle down strategy Failure Unilever’s Zhong Hua First multinational player Name synonymous to toothpaste Was 20-25% market share leader Now 11-12% market share Slide7: Marketing Mix Analysis 7Ms: “Product”Slide8: Marketing Mix Analysis 7Ms: “Product” (Cont.) Product extension by volume Slide9: Marketing Mix Analysis 7Ms: “Service”Slide10: Marketing Mix Analysis 7Ms: “Image”Slide11: Marketing Mix Analysis 7Ms: “Price”Slide12: Marketing Mix Analysis 7Ms: “Price” Slide13: Marketing Mix Analysis 7Ms: “Price” Slide14: Marketing Mix Analysis 7Ms: “Price” Slide15: Marketing Mix Analysis 7Ms: “Incentives”Slide16: Marketing Mix Analysis 7Ms: “Incentives” Insert Photo of BundlingSlide17: Marketing Mix Analysis 7Ms: “Communication”Slide18: Marketing Mix Analysis 7Ms: “Distribution”Slide19: Marketing Mix Analysis 7Ms: “Distribution” (Cont.)Slide20: Recommendations Summary Early Entry Chinese HBA market is still in relative infancy Customers are image conscious, lacking in brand loyalty, and willing to try new things Equity will come to fruition as the market matures Trickle-down strategy: aspiration and Speed of adoption Adoption timeline same as developed world, transitioning at accelerated pace. China must evolve, transitioning through each developmental phase. Tailor marketing mix to meet quickly-changing and unique needs Latent needs Consider consumer preferences Latent consumer needs Diversity Core values allow brands to connect with consumers across geographies & social class Rich heritage and bright futureSlide21: Recommendations Key Success Factors for Managing HBA Brands in ChinaSlide22: Questions? You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.