Friday, April 13, 2007

Rebranding Eu Yan Sang

This books tells of how Eu Yan Sang transforms itself from a family operations to a multinational company.

In 1989, the company seems to be fading into obscurity. A SWOT (strengths, weakness, opportunities, threats) analysis shows the following points.

-a heritage brand with a good reputation.
- emphases quality goods

-uses a passive sale technique (product driven)
-lacks understanding of consumer behaviour

-can take advantage of a bigger market
-can reinvent the brand

-less human movement at the shop as people spend more time at shopping centre.
-loss of existing customers as the younger people prefer Western medicine.

To resolve this, Eu Yan Sang went onto customer driven marketing. They noticed many customers buy herbs to make soup. Why not standardise ingredients, pack it in plastic and package it as a herbal package for soup? This lead onto to more marketing ideas for re branding a household name.

This book is an excellent case study of how a family business; re branded and market itself into a multinational company. It shows how being open to ideas, awareness of customer needs and culture, and delivering quality services gives good dividends. It also show what a level 5 leadership can do.


Labels: ,


Post a Comment

<< Home