Tiger Balm Essay Example for Free

Tiger Balm EssayAnalysis and recommendations of the existing trade strategies Tiger Balm is a well-known herbal ointment remedy that was developed to relieve the aches and melodic line in antediluvian patriarch China. It is a very successful example of a truly Asian stigmatize that has gained international recognition. It has created a high degree of awareness and loyalty in global markets. I withdraw evaluated the strengths and weaknesses of your companys existing marketing strategies, and based on my study, I have found place the following problems1. Your target audiences are all age group ,but your target audiences are mainly pore on fuss sufferers and sportspeople. When people talk about tiger oiliness, what comes to their mind is that it is an old heritage originated from ancient China and it relieves the aches and pains. Tiger balm gains its reputation and popularity mostly from its quality and its efficacy. You have a wide guest base which is good. Your positioning strategy approaches different market segments, but is always based on the kindred brand promise, that is works whenever it hurts.2. Your increases are all labeled as pain reliever. But actually near of Tiger balms products are not pain reliever. this whitethorn mislead and exclude many people who are just sports enthusiasts. They may simply not have to try the product, believing it not to be for them.3. If your new product extensions all emphasize your brand promise, consumers may think the product is nix new but an some other pain reliever. They may think you dont produce anything else other than pain reliever. They dont know the differences among your products .They dont know which cardinal is good for them and which one they should purchase. This may limit your brands organic growth.4. Your brand communication seems not very creative. In China, people perceive Tiger Balm as a grandfather or grandmothers product because it has been used mostly by the older generation who hav e grown up with the brand. You contain to attract new target market victimisation non-traditional forms of media. Recommendations1. Different products are segmented into separate functions and go through to difference target audiences. Your target audiences washbowlt be only focused on pain sufferers and sportspeople because they only take a small part of the whole consumer market. Nowadays, many customers have stopped using Tiger Balm, they have to be convinced that Tiger Balm is relevant. To exploit the new health trend, you can position the balm as something like pre-exercise rub, demonstrate to them how Tiger Balm can help economise their activity, exercise, and life going. You can sponsor more sports events , put your products pictures everywhere in the gymnasiums, outdoor LCD screens, etc, button awareness of Tiger Balms capabilities, drawing on its eastern heritage, while maintaining its appeal to the neo world.2. You cant just present to your authority customers as a pain reliever, but earlier as a way of life that allows people who want to live life to the full to do what they love most. In order to tap into new market to attract more younger generation, you may need to modify your products. You can add on new features to your products to differentiate them from your competitors.3.Dont limit your product extensions to your brand promise. You can try to make an image that your products are family necessity. Everyone can use it even he or she is not experiencing any pain. You can exhibit your different product extensions in supermarkets and demonstrate to the potential customers (housewives,etc) the different functions of your products. This has an advantage of personal contact and you get the chance to build a customer-friendly image.4.Certainly, you dont want to lose your loyal customers. So you need to remain focus on your brands quality and usefulness and get your existing customers to rely on the brand. All in all, Tiger balm has been doin g very successful in its positioning strategy and positioning itself as the worlds tip topical analgesic ,perfect for soothing muscular aches and pains .