Essay About Main Business And Hong Kong

Royal Medic Health Supplement Marketing Written Report
SPD4250 Marketing Management (Group 101)[pic 2]Royal Medic Health SupplementMarketing Written Report24 November, 2016Group 2Ku Chun Yuen, JasonLi Wing Yin, KathyChan Ka Po, GladysWong Hang Mei, MayWong Sheung Kwan, SekiTsui Hoi Kan, KennyTsoi Man Chun, CyrusReport PurposeThe report was purpose about to sustain in the current market and improve the situation. Royal Medic was established in 2002 and it was a listed company in Hong Kong (stock code: 0932), the company main business was health supplements, traditional Chinese medicine and Chinese medicine clinics.Royal medic group current revenue and profit was dropped in 2015 and 2016 seasons. Main Revenues at the health supplements had overall 84.7% sales.  Our top-selling product was No.1 Chinese Cs-4. After research, we analyzes for the marketing environment with four forces.  In the competitive forces there were many competitors, after compare with the competitors on the product series; In Economic forces our group focus on the company awareness and income was increase to an upward trend, on the contrary, the willingness to spend the value of total retail sales in Hong Kong.The Group operating expenses as a percentage of sales are expected to decrease compared to the prior year level (2015: 9.6%)and Mainland Chinese tourist visit as a percentage was going to decrease in 2016. In sociocultural forces our group focus on aging. We try to target potential consumers on a group and we found out the population age 35 or above were our target. In technological forces the E-commerce was upward trend in 2016, it’s revealed that online shopping was become popular in Hong Kong.

CompetitionFrom the Monopolistic Competition perspective, the competition was revealed there were many competitors such as herbs, Eu Yan Sang. The abovementioned brands was our main competitors they was selling CS-4 Cordyceps Sinensis.  Therefore, the market had similar product from the product competitors, which provided such as Wild Cordyceps or Agaricus product to focus effort on different product respectively.  Another health supplements in generic competitors compare with the competitors, we all provide the similar benefits to the consumer.Conclude on our environment analysis, there was a potential market growth in Hong Kong and China. In connection with the E-commerce persistent development, online shopping is going to upward trend as a business environment. We are suffering in hard business to operating our market to under a compact from the uncertainties of global economy in short-term business or will face keen competition in long-term business.Market SegmentationStart with the market segmentation, we use differentiated targeting strategy to target multiple segments in Hong Kong health supplement market with multiple products.