Академический Документы
Профессиональный Документы
Культура Документы
Group Members:
Chastina Tham Ching Teng (S10159862A)
Loke Jia Min Jasmine (S10159473J)
Megan Chua Sze Ying (S10159754E)
Khaizuran (S10159591H)
Class: T107
Table of Contents
1. Market Overview
2. Competitors Analysis
12
3. SWOT Analysis
16
4. Consumer Survey
18
27
6. Role of Communications
28
7. Target Audience
29
8. Product Positioning
30
9. Key Message
30
10.
Communication Strategies
32
11.
Six-Month Schedule
37
12.
Budget
38
13.
Presentation Slides
40
MARKET
OVERVIEW
1. Population Increment
Singapore is currently experiencing a population increment,
where by the population of Singapore has increased from
5.1837 million in 2011 to 5.3124 million in 2012; of this the
population of Singapore citizens increased from 3.7893 million
in 2011 to 3.8182 million in 2012. The figure also shows that
the rate of growth in the population is going up, from 1.8% in
2010 to 2.5% in 2012. Since the Tiger Balm Patch can be used
by a wide age range, specifically anyone aged 12 years and
older, with the increase of the overall population of the
country, there will be a larger consumer market. Thus, there is
a larger target audience.
Tiger Balm pain-relieving patch is targeting the people within
the age group of 15-65 years old. About 2,825,000 Singapore
citizens fall into this category, which is roughly more than half
of the population in Singapore. This is non-inclusive of nonresidents such as foreign workers. Growth of foreign
employment is mainly in the construction sector and domestic
help sector thus blue-collar workers like construction workers or
domestic helpers, might often need it. Furthermore, with
Singapore currently experiencing an ageing population, more
people would fall within the target age range. Therefore, Tiger
Balm pain-relieving patch would have a larger audience to
promote the product to, therefore securing an advantage with
more potential consumers.
2. Lifestyle
With the increase of the healthy lifestyle campaigning by the
government, there is an increase of people trying to maintain a
healthy lifestyle through exercise. There is an increase of
attendance to gymnasiums (1,299,384 attendees in 2006 to
2,298,430 attendees in 2012) and a significant increase in
other sports bookings. As Singaporeans are leading a more
active lifestyle now, they might suffer from muscle aches more
often. These increase of sports and exercise related pain and
injury, may draw in more potential customers for the Tiger
Balm pain-relieving patch product.
Furthermore, Singapores lifestyle is stressful. It is reported that
adults in Singapore work the longest hours per day globally and
even take work home at times. In fact, 19% of employees in
Singapore work more than eleven hours a day. Not only that,
50% of employees in Singapore takes work home to finish at
the end of the day. Also, youngsters in Singapore lead rather
4
Economic
1. Inflation
Singapores inflation has eased down from a few years ago,
from 5.2% in April 2012, to 1.2% in April 2014. Despite the
inflation still being at 1.2% and the increase in price of goods
and services, the purchasing power and income of consumers
is not severely affected. This means that although there is a
possibility of consumers spending less on luxuries and more on
necessities, it does not affect Tiger Balm, as the product we sell
is a form of necessity in self-medication. In fact, with higher
prices of services, more would be likely to buy Tiger Balms
patches than see a doctor. Hence with the easing inflation,
consumers are able to spend on more products and therefore,
there is still a maintained target consumer group that Tiger
Balm pain-relieving patch can focus on, and there are more
potential customers.
2. Gross Domestic Product (GDP)
Singapores Gross Domestic Product, which is the monetary
value of all goods and services produced in the country, has
been increasing over the years. Recently, Singapores overall
the economy slowed down from 5.5% to 5.1% but this does not
affect purchasing power of consumers or their income as there
is a GDP rise by 0.10% so far in 2014. With a higher GDP per
Competitive
1. Monopolistic Competition
Monopolistic competition with other medicinal patch
manufacturers has risen as brands like Salonpas and Panaflex
have begun producing medical patches under their own
brands. They put up advertisements and are well-known brands
for medicinal products. Consumers may instead go for the
other well-known brands for their pain-relieving patches, which
pose a problem for Tiger Balm. However, considering the fact
that Tiger Balm is a very strong brand that has over one
hundred years of heritage and success, and that families in
Singapore have been using it for so long, these consumers
would still remain loyal to the brand, and are unlikely to change
to change their preference. In addition, the Tiger Balm Patch
also receives very positive feedback from consumers who have
tried it. Potential consumers would believe these reviews and
also try Tiger Balm. Thus, Tiger Balm might be able to
withstand the competition by its close competitors. These
Technological
1. Traditional Media
Traditional media refers to television, newspapers and radio
advertisements. In Singapore, there are a total of 1,096,000
daily newspapers in circulation everyday. There are about
1,330,000 television sets in Singapore and Singapore has
2,600,000 receivers on radio stations. The Nielsen Radio Diary
Survey reported that the 93% of adults in Singapore tuned in to
listen to the radio on a weekly basis in 2013, with more than
nine in ten listeners still tuning in through traditional sources
such as FM receivers, and more than one in five have been
tuning in through applications and/or websites. The Nielsen
Media Index report indicated that 9 in 10 local viewers watched
terrestrial channels on a weekly basis, with majority of them
watching from their own television sets at home. This tells us
that majority of Singaporeans still use the medium of
traditional media to find out about the products that interest
them.
Therefore, promoting the Tiger Balm pain-relieving patch
through traditional media with television and radio
commercials should not be forgotten as Commercials and
advertisements through televisions and print are still highly
recommended as they can reach the consumers who are more
traditional, helping them maintain a good consumer market.
2. New Media
New media consists of the computers, the access to the
Internet and mobile phones. In Singapore there are 1,941,000
computers and 1,200,000 people have access to the Internet.
Also, 5,258,300 people have 3G subscriptions, which means
that they can access the Internet on the go. There are currently
8,068,000 active mobile subscriptions. It is also reported
Singapore having the highest smartphone penetration in the
Asia-pacific region, along with Hong Kong with 87%. This shows
that there are more people using new media than traditional
media, which allows Tiger Balm to easily reach the younger
generation consumers. Furthermore, new media is fast, cheap
and easily accessible. This is further supplemented by the fact
that people are now able to access the Internet from their
Regulatory
1. Trademark
Tiger Balms trademark is their springing tiger logo adopted
since 1900, which is said to be one of the most recognizable
trademark logos alongside other popular brands such as CocaCola. It is recognized and recalled by consumers in markets
globally. The trademark helps by leaving a deeper impression
on consumers, and is also closely related to the brand Tiger
Balm. Not only that, but Tiger Balms packaging is also part of
the impact on consumers. Tiger balm has a one-of-a-kind
packaging with hexagonal jars. This makes it stand out from
international competitors and also allows the product to
maintain its culture yet look modern. With this trademark, this
means that Tiger Balm is already an established brand known
10
http://www.focuseconomics.com/en/economy/charts/Singapore/Inflation
http://www.google.com.sg/publicdata/explore?
ds=d5bncppjof8f9_&met_y=ny_gdp_pcap_cd&hl=en&dl=en&id
im=country:SGP:AUS:MYS
http://www.singstat.gov.sg/publications/publications_and_paper
s/reference/sif2013.pdf
http://voices.yahoo.com/tiger-balm-ointment-chinese-iconeffective-pain-7343672.html
http://www.mediaresearchasia.com/view.php?
type=press&id=3184
https://sg.news.yahoo.com/internet-penetration-singaporescores-73-thailand-26-indonesia-031602165.html
http://infographics.sg/?portfolio=social-media-usage-statisticsfor-singapore-static-infographic
http://www.todayonline.com/singapore/viewers-still-tuning-freeair-channels-survey
http://news.xin.msn.com/en/singapore/93percent-of-adultlisteners-tuned-in-to-radio-weekly-3
http://www.singstat.gov.sg/publications/publications_and_paper
s/reference/monthly_digest/mdsapr14.pdf
http://www.singstat.gov.sg/publications/publications_and_paper
s/reference/sif2013.pdf
http://stats.mom.gov.sg/Pages/Home.aspx
http://stats.mom.gov.sg/Pages/Unemployment-SummaryTable.aspx
http://www.tradingeconomics.com/singapore/inflation-cpi
http://www.mom.gov.sg/newsroom/Pages/PressReleasesDetail.a
spx?listid=541
http://www.slideshare.net/wearesocialsg/social-digital-mobilearound-the-world-january-2014
http://singaporelegaladvice.com/what-is-the-lemon-law/
http://www.singstat.gov.sg/publications/publications_and_paper
s/reference/yearbook_2013/yos2013.pdf
http://www.ida.gov.sg/Infocomm-Landscape/Facts-andFigures/Telecommunications
http://www.pressreference.com/Sa-Sw/Singapore.html#b
http://www.pressreference.com/Sa-Sw/Singapore.html#b
http://books.google.com.sg/books?
id=OyRmAgAAQBAJ&pg=PA10&dq=is+tiger+balm+patented&
hl=en&sa=X&ei=4BF7U_riDYeuATAk4HICw&ved=0CDIQ6AEwAQ#v=onepage&q=is%20tiger
%20balm%20patented&f=false
http://singaporelegaladvice.com/what-is-the-lemon-law/
http://www.brandingasia.com/cases/tigerbalm.htm
11
COMPETITOR
S
ANALYSIS
12
Competitors Analysis
Tiger Balm
Product:
Medicated Patch
Place
Price
Warm
Small: $3.85
Big: $5.00
Ultra thin: $5.80
COOL
Small: $3.60
Big: $4.40
BACK PAIN
$4
Price is consistent in different places.
$24 for 6 packets of Tiger Balm patches on Amazon.
Basically around $4 per pack.
Promotion
Salonpas
13
Product: Medicated
Patch
Place
Price
ONLINE
Amazon: $13.50 for 140 patches
Cheaper Online
IN STORES
$6.50 for 40 patches
$5.90 for 3 large patches
$3.90 for 20 patches
$2.10 for 10 patches
$5.00 for 5 heat patches
$6.10 for 20 ultra thin patches
$7.15 for semi-transparent patch
$5.65 for big patches in a 3 pack
Promotion
14
Product:
Medicated Patch
Type: Pain relief patch, only one type (muscle and joint pain)
Can be used on neck and shoulder, elbow, back, knee
Packaging: Green colour
Presentation: effective, catches the eye
Smell: soothing minty fragrance
Mascot: NIL
Target audience: adults and children above 12 years old
Main ingredients: Glycol Salicylate, menthol, camphor,
vitamin E
USP: fast-absorbing hydrogel technology, low allergy, gentle
on skin, stretchable, breathable, easy to peel
Place
Price
ONLINE
Ebay: 4 patches for $16.70
Redmart: 4 patches for $5.35
Price is NOT consistent
IN STORES
Ultra thin: $4.90 for 4 patches
muscle and joint: $3.60 for 2 patches, $6.50 for 4 patches
neck and shoulder: $9.70 for 3 patches
Promotion
Discounts:
Neck and shoulder $14.60 for 2 packs
Muscle and joint $13 for 3 packs (4 patches per pack)
No known company tie-ins
How its advertised: TV commercials, Newspapers
Panaflex
15
Eagle Brand
Product:
Medicated
Patch
Place
Packaging: green in colour, easy to open. However it is nonresealable. It has a prominent logo printed on its packaging. It is
non-greasy and it can be cut into smaller pieces for usage.
Main ingredients: capsicum and other herbs
Target audience: very wide, from pre-teens to the elderly.
Promotion
16
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
Ways to convert
Weakness to strength
Threats to opportunities
Market the patch as a need, and the Tiger Balm brand as a goto solution to relieve aches and pains
Educate people on the benefits of using the patch, instead of
other substitutes. (E.g. the medicine enters the body through
17
CONSUME
R
SURVEY
18
Consumer Survey
We crafted 12 questions for our survey. A total of 103 of respondents
participated in our survey.
Our survey results are as shown below:
19
20
Word of mouth seems to be the most effective and powerful way that
consumers find out about promotions, with 39.8% of respondents
finding out about promotions through word of mouth.
The second and third most effective mode to promote a brand or
product is through newspapers and television advertisements, which
consists of 22.3% and 16.5% respectively. Even though these forms
of advertising are classified under traditional media, our survey
results show that they still remain a popular way that people find out
about promotions in Singapore. Therefore, we should not neglect
these forms of advertising in our future campaigns.
21
22
23
24
KEY BUSINESS
ISSUES
25
2. Risks
The Tiger Balm Patch faces the threat of substitutes, such as
sprays, pills, gels and rubs. This may divert consumers away
from using the patch.
The image that consumers currently have of the Tiger Balm
brand is one that is traditional, a brand that only old people
use. Many consumers prefer western medication like pills
and tablets instead of traditional chinese medication, hence
they would rather opt for alternatives like Panadol to relieve
their aches.
Tiger Balm has several strong competitors, which might
pose a threat to Tiger Balm. Salonpas, Tiger Balms biggest
competitor, advertises their patches well, and is thus very
popular with consumers. Panaflex not only advertises their
patch, it is also a part of Panadol, which is well known for
their painkillers.
3. Sustainability
Although Tiger Balm has a wide variety of different types of
patches, to suit the needs of different consumers, other
competitors also have a range of patches that relieve the
various kinds of aches that consumers experience. This does
not make Tiger Balms Warm and Cool patches unique for a
very long period of time. Tiger Blams Patches might not be
popular as a result, because consumers are still able to have
their needs met when using the competitors medicated patch.
26
4. The Economy
There is room for growth. As more Singaporeans lead busier
and healthier lifestyles, this means that more Singaporeans will
experience aches. Hence, there is room to develop more types
of patches to better suit the needs of consumers in Singapore.
27
Role of Communications
We can solve the above Key Business Issues by carrying out the
suggestions below. These suggestions can be executed by holding
events, campaigns, and sales promotion.
1. Promote the Tiger Balm Patch. When promoting the Tiger Balm
brand, promote not only the balm but the patch as well.
2. Show that with our current lifestyle, the patch is not a want but
a need, by perhaps showing its convenience, and quick and
easy application.
3. Advertise the patch as a faster alternative to rubs or balms,
and the fact that it is more convenient than applying a rub or
balm.
4. Redirect attention to patches and away from western
medications by educating consumers on the downsides of
consuming pills. For example, how the medicine damges the
liver, but medicine from the patch enters the body through the
skin, which is harmless to the body.
5. Change consumers perception of the Tiger Balm brand. Market
Tiger Balm as a brand that is modern, and can be used by
people of all ages. Reach out especially to the the youths,
young adults and middle-aged adults. This can be achieved by
holding events that interest them, and by connecting with
them on social media platforms such as Facebook and Twitter.
6. Develop new types of patches, for instance, patches
specifically for sprains, arthritis and sore muscles. Improve on
current product such as the medicine formula, adhesive,
comfortability, etc.
7. Foresee trends and adapt accordingly in response to these
trends. Some examples of these trends might include:
preference of convenience, quickness, modifications, etc. We
can even cater to younger children (pain from growing
muscles, etc).
8. Growth of economy is possible, by pitching advertisements to
the healthy/busy lifestyle as a form of pain relieve or stress
relieve (pain in necks, etc).
28
Target Audience
According to our survey results, our group has decided to have a
primary and secondary target
audience.
Demographics
Primary
Age: Middle-aged, 35 to 50 years old
Secondary
Age: 15 to 20 years old
29
Product Positioning
Perceptual Map
Positioning Statement
For Quick and Easy Muscle Pain Relief that benefits your body,
choose Tiger Balm as your Number 1 Solution.
30
CAMPAIG
N
31
Communication Strategies
Event
Summary
Commuters will take part in a speed challenge, 4 finalists will
compete for the ultimate grand prize.
Run 500m on the treadmill.
Speed will be increased rapidly.
The challenge: to last on the treadmill longer than a minute.
*For safety reasons, participants will be held on with a harness.
Prizes
10-19 seconds 1 pack of tiger Balm Patch
20-29 seconds 1 pack of Tiger Balm Patch + $5 sports voucher
30-39 seconds Gift pouch+1 pack of patch + $5 sports voucher
40-59 seconds Gift pouch+1 pack of patch + $10 sports voucher
1 minute and above Gift pouch+1 pack of patch + $$20 worth of
sports vouchers
*Prizes are on First come first serve basis, whilst stocks last.
32
Finals
Where: Orchard, Ngee Ann City
When: 20th December 2014
GRAND PRIZE: 1-week holiday in Gold Coast, Australia
Invitations*
Goodie Bag
Contents:
Tiger Balm products
Rexona deodorant
Snacks
100 plus
Foldable bottle
Sports vouchers
Lucky draw
33
THE PRESS
KIT
34
Sales Promotions
Point of Purchase
Tiger shelf
Patches placed along the spine and legs of the tiger
Loyalty Programme
PLACEMENT STICKERS
35
36
Six-Month Schedule
We have chosen the 6 month campaign to be from July to December
2014.
Month/
July
Augus
t
Placemen
t Stickers
Campaig
n
Sales
Promotions
Septembe
r
October
November
December
Loyalty
Gift with
Card
Purchase,
Program Tiger Shelf
Tiger Shelf
End of Tiger
App
3-day
Guerilla
Marketing
Tiger Balm
Speed
Challenge
Event
(8, 15, 22, 29
Nov)
Tiger Balm
Speed
Showdown
Event
(20th
December
2014)
Start of
the Tiger
App
Guerilla
Marketing
Event
37
Budget
38
PRESENTATI
ON SLIDES
39
Presentation Slides
Presentation
Slides
40
Presentation Slides
41
Presentation Slides
42
Presentation Slides
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Presentation Slides
44
Presentation Slides
45