Assignment 7: Managing International Marketing and Operations
standardization or customization?
I will adopt a customized marketing strategy. For Chinese medicinal materials, the most important point is to use customized combinations of different drugs for each person’s physical characteristics. The customized content includes: dosage, variety, and time of medication. This is also one of the great advantages of traditional Chinese medicine. It can adopt completely different prescription strategies for different groups of people.
I think the most important things in 4p is the product and price
- Product: accurate market positioning
From the perspective of consumer demand, the health problems of the elderly are mainly manifested in physical problems. Sometimes minor problems such as fatigue or digestion are not worth going to the hospital, but they really cause great distress to people. These problems are difficult to solve by traditional medicine. Chinese medicinal materials have successfully solved these problems. Using medicinal herbs as a carrier, the efficacy of Chinese medicine can exert its unique effects on the soft tissues of the body, which just fills the gap in the market for pharmaceutical products. .
There is a clear difference from the common medicinal materials that use Western medicines with greater side effects as their selling points. The uniqueness of Chinese medicinal materials makes it impossible for other competitors to copy or plagiarize. It can be seen from the sales terminal that even though Chinese medicinal materials are high-end medicinal materials, the consumers who buy Chinese medicinal materials in stores are often not white-collar workers or fashionable people with strong spending power, but middle-aged people who are more likely to suffer from health problems. Elderly consumers. Therefore, in a sense, consumers buying Chinese medicinal materials are no longer simply buying daily chemical products, but more seeking health care products or pharmaceutical products that solve health problems.
- Price: high-end price of high-end products
In the medicinal material market, moderate prices are an important consideration for low- and middle-income consumers, but the moderate or reasonable price comes from consumers’ psychological equivalence of the value and price of medicinal materials. Chinese medicinal materials are deeply rooted in people’s minds as a health care product that solves oral problems. The price of more than 20 yuan is not a problem. When they are sold too cheaply, consumers question their functions. The unique effects of Chinese medicinal materials are reflected in the high price. The unique product strength provides support for its high prices.
I think the biggest difficulty is that the transportation and preservation of fresh herbs requires stricter conditions and costs, and if they cannot be sold in time, these goods will have no use value, making the cost difficult to control, and if the cost is not controlled , Then the profit will be difficult to estimate, which is a huge challenge for the entire international campaign