Marketing Case ---Product 市场营销案例分析———产.doc

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1、 ProductProduct is one of the 4Ps in the marketing mix. A proper design of product not only helps differentiate the product from other competitors, but also offers superior values to customers . This chapter suggests a proper product design and branding strategy to Surity. Firstly, the product objec

2、tive, features, and product class are proposed. Secondly, a proper branding strategy and different brand elements will be discussed. Finally, branding and product strategies in different life cycle will be suggested. Objectives of product design and branding strategiesThe objectives of product desig

3、n and branding strategies have to be set in order to maximize the product value of Suritys TCM software in the market. The followings are objectives for Suritys TCM software. 1) The product design and strategies should meet customers requirements based on the current research findings.2) The product

4、 design and strategies should meet the competence of Surity. 3) The product design and strategies should create a superior value for Suritys software in the market. 4) The product design and strategies should be able to cope with the market change in the future. Product FeaturesThe current research

5、findings suggest usefulness as the most important feature for TCM software. Therefore, the TCM software should be flexible enough to help TCM practitioners make diagnosis. TCM software should also be reliable enough, thus TCM practitioners are not worried about losing data and duplicate the manual t

6、asks. It should also be able to process invoices, keep medicine and patients records similar to other TCM software. Thus, the features of TCM software can be listed as below: Setting up e-documentation to enables information keep recording effectively and permanently Managing and control information

7、 conveniently. Easily use and manipulation. Constant updating of healthcare information Faster access to information regardless when and where parishioners needed. Electronic processing make sure accuracy and security Cost reductionProduct classAccording to Quester, Mcguiggan, Perreault and Mccarthy

8、 ; identification of product class is useful to provide directions to new products but also help choose marketing mix Quester,P,G, Mcguiggan, R,I, Perreault, W,D & Mccarthy, E,J 2007, Marketing: creating and delivering value, McGraw-Hill, Sydney, NSW. Based on the definition of product class1, TCM s

9、oftware is classified as an unsought product, for which its potential consumers do not have ideas about the product or they have not recognised the product well in the market1. BrandingBranding strategy is important for Suritys TCM software. Prestige branding strategy helps create a higher value for

10、 Suritys software in the market, since financial resources are limited in Surity. Earning a premium price reduces the risk of Surity struggling with limited financial resrouces in the future. Prestige branding strategy also help reduce the perceived risk of Suritys customers. Reducing perceived risk

11、 is essential for Suritys software as most customers showed their resistance of adopting the software in the current research. Reducing preceived risk means lowering the barrier of Suritys TCM software to enter the market. Thus, a prestige branding strategy is appropriate for Surity in the current m

12、arketing plan. The following section suggests the proper brand elements for Suritys TCM software. Brand awarenessThe value of Suritys TCM software can be enhanced by brand awareness and brand image Aaker, DA 1991, Managing brand equity: Capitalising on the value of a brand name, Journal of Business

13、Research, vol.29, no.3, pp.247-248. Brand awareness can be further divided into brand recognition and brand recall. The brand recognition and brand recall of Suritys TCM software can be enhanced by properly chosen brand elements such as a brand name, slogan and packaging.Brand name Selecting a right

14、 brand name enhances the value of a Suritys TCM software. A good brand name enhances the perceived quality of Suritys TCM software Yoo, B, Donthu,N & Lee,S 2000, An examination of selected marketing mix elements and brand equity, Journal of marketing science, vol.28, no.2,pp.195-211. A good brand na

15、me should be inherently meaningful so that the name can convey the relevant information of Suritys TCM product4 Keller, KL, Heckler, SE & Huston, MJ, The effect of brand name suggestiveness on advertising recall, The journal of marketing, vol.62, No.1, pp.48-57. Hua Tuo No.1 is chosen as the brand n

16、ame for Suritys TCM software. Hua tuo is an ancient Chinese medicine doctor who is well-known in the Chinese medicine industry. According to the history, Hua Tuo was the first surgeon in China. He was the first person to invent anesthesia. He also introduced acupuncture as a form of Chinese medical

17、treatment. He also developed Chi-kung Qigong and the frolics of the five animals that is the major theory in Chinese medicine still practiced today. Hua Tuo is highly regarded as the god of Chinese medicine Rafe,DC 2007, A Biographical Dictionary of Later Han to the Three Kingdoms (23-220 AD), Brill

18、. Hua Tuo No.1 is purposed to associate the prestige and professional image of Hua Tuo with Suritys TCM software and No.1 symbolizes easy and efficient. Logo A logo is one of the most significant communication tools used to appeal customers Zakia,RD & Nadin, M 1991, Semiotics, Advertising and Market

19、ing, Journal of consumer marketing,vol.2, no2, pp.5-12. A logo should provide customer a recognisable, familiar and consensually held meaning Robertson, K 1998, Strategically desirable brand name characteristics, the journal of consumer marketing, vol.6, no.4, pp.61-71. The logo for Surity software

20、will be a diamond shape where Hua Tuos image is found inside. This not only associates a prestige image of Hua Tuo with the product but also enhances the credibility of the brand. This logo symbolizes a superior image of Suritys software relative to its competitors and it enhances the prestige image

21、 of Suritys TCM software in the market. SloganA slogan helps Suritys TCM software increase recognition and differentiate its brand from competitors Kohli, C, Leuthesser, L & Suri, R 2007, Got Slogan? Guidelines for creating effective slogans, Business Horizons, vol.50, no5, pp415-422. The slogan of

22、Suritys TCM software Genuine professional is purposed to convince customers that Suritys TCM software is genuinely professional and different from other TCM software. A professional image will also be enhanced using this slogan. Genuine professionalBrand imageA brand image is the associations of a b

23、rand in consumers mind. In order to build up a prestige brand, the image of Suritys TCM software should be associated with professional, prestige, helpful, genuine, accurate, traditional, reliable, familiar, and warm. Table2 illustrates the desired brand associations for Hua Tuo No.1.Table 2: Desire

24、d brand associations of Suritys TCM software5.13Packing According to Keller, one of the best way to build up a brand image is using product packaging Keller, KL 2008, Strategic brand management: Building, Measuring and Managing brand equity, Prentice-Hall: New Jersery, USA. A distinctive package can

25、 motivate customers to purchase the product Zaichkowsky, JL 2010, Strategies of distinctive brands, Brand management, vol.17, no.8, pp.556. The Suritys TCM software use Hua Tuos image as the package which portraits a professional and prestige image. In addition, gold is used for the colour of the pa

26、ckage. Gold symbolizes a prestige status as King of different dynasties in China used gold to symbolize their superior power. This package can build up a prestige image for Suritys TCM software as most TCM practitioners come from South-East Asia. Table 3: TCM software packagingProduct life cycleThe

27、clear recognition of product life cycle is important to deliver superior consumer value. Kahn demonstrates that delivering superior customer value is one of the best way to differentiate products from competitors and drive successful businesses Kahn,KB 2005, The PDMA Handbook of New Product Developm

28、ent, accessed to 26/09/2011, http:/www.pdma.org/shop_pdma_description.cfm?pk_store_product=12. Surity should adjust its branding strategy at different stages of product life cycle. In the introduction stage, creating awareness among early adapters is crucial13. When the product life cycle reaches th

29、e growth stage, it is important to enhance the brand image13. Maturity along with fierce competition, a large number of competitors exit the marketplace, branding strategy should focus on preventing brand switching13 Anderson, CR & Zeithamal CP 1984, Stage of the product life cycle, business strateg

30、y, and business performance, The academy of management journal, vol.27, no.1, pp5-24. . Table 1 illustrates the product life cycle diagram. Table 1: Product life cycle diagram14 Day, GS 1981, The Product Life Cycle: Analysis and Applications Issues, The Journal of Marketing, vol.45, no.4, pp.60-67.1

31、5 Park, CW, Jaworski,BJ & Maclnnis DJ 1986, Strategic brand concept-Image management, The Journal of Marketing, vol.50, no.4, pp135-145. Summary Product design and branding strategies are important for increasing the value of Suritys TCM software. Suritys TCM software should be designed to be useful

32、 and reliable with user friendly in nature. It should have similar convenient functions as its competitors such as invoice processing and record keeping. A prestige branding strategy should be adopted by Surity as it reduces perceived risk by customers and its own risk of struggling with future financial constraints. Different emphasis on branding strategies should be used at different stages of the product life cycle. Surity should adjust its strategies to respond to future market change and challenge. The following chapter will discuss about the pricing strategy for Suritys TCM software.