Tiger Balm Essay Example for Free

tiger unguent EssayAnalysis and recommendations of the existing marketing strategies Tiger Balm is a well- spotn herbal ointment remedy that was developed to relieve the aches and pains in ancient China. It is a very triple-crown example of a truly Asian brand that has gained international recognition. It has created a high degree of awareness and loyalty in global markets. I absorb evaluated the strengths and weaknesses of your companys existing marketing strategies, and based on my study, I take over found out the following problems1. Your put audiences are all age group , scarcely your butt end audiences are mainly focusinged on pain sufferers and sportspeople. When people talk about tiger unction, 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 customer base which is good. Your positioning strat egy approaches different market segments, but is ever based on the same brand promise, that is works whenever it hurts.2. Your products are all labeled as pain reliever. But actually some of Tiger balms products are not pain reliever. this may mislead and exclude some 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 nothing new but another 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 one 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 encompass Tiger Balm as a grandfather or grandmothers product because it has been used mostly by the older generation who have grown up with the brand. Y ou need to attract new target market using non-traditional forms of media. Recommendations1. Different products are segmented into separate functions and apply to difference target audiences. Your target audiences undersidet be only focused on pain sufferers and sportspeople because they only take a small part of the whole consumer market. Nowadays, more 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 keep their activity, exercise, and life going. You can sponsor more sports events , put your products pictures everywhere in the gymnasiums, outdoor LCD screens, etc, pushing awareness of Tiger Balms capabilities, drawing on its eastern heritage, while maintaining its appeal to the modern world.2. You cant just present to your potential customers as a pain reliever, but rather as a way of life that a llows people who want to rifle 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 castrate 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 favor 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 doing very successful in its positioning strategy and positioning itself as the worlds leading topical analgesic ,perfect for soothing muscular aches and pains .