NC is still a small size and also an unknown brand. To hit the market in china, the ranging strategy decision process become very important. Hong Kong, a financial center and tourism city for china, return from the United Kingdom to china back in 1997. Hong Kong become a window and an opportunity for a lot of international brand to enter the large Chinese market. Therefore, NC must use Hong Kong for their first stage, in the coming 3 years, NC must focus on develop a brand of products that fit in to entering the China market.
So, understanding the Chinese market become an important part of strategy planning. For example, the customers’ background, culture, purchasing pattern, behavior etc. Introduction of NC nutritional supplement retailers. Our first store was opened in 1935 in Pittsburgh by David Sharing. Originally called “Lockwood”, the NC (General Nutrition Center) name was born in 1960. We started selling our own ranges of vitamins and mineral supplements later that decade. NC come a long way since those humble Pittsburgh beginnings.
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NC is now the world’s largest health retailer, with over 6,000 stores in 50 countries across the globe! NC been in Hong Kong since 2003 – and by late 2008 we had 9 specialist stores, plus specialist counters and stock in Meanings Stores cross the territory. In Just five years we’ve established ourselves as one of Hong Gongs leading health supplement brands – and we’re always working to get even bigger and better as we help everyone live their best life. NC committed to quality. NC only uses the best ingredients and employs rigorous quality assurance testing and manufacturing standards.
NC subject products to up to 150 quality checks before they arrive on our store shelves and all our ingredients are issued with a Certificate of Analysis. NC products are packaged in safety-sealed tamper-evident snacking and go through a series of checks before they’re put onto the shelves. This series of checks and balances ensures that NC products are the safest and most efficacious supplements on the market. 2. Current situation and trends 2. 1 Background information of the market – China and Hong Kong public health: China has a high demand in quality international supplement brand.
A brief history that China is undertaking a reform on its health care system. And in the past 50 years, China had made great achievements in controlling infectious diseases and improving the publics health and hygiene. However, in the September of 2007, nearly 80 presents of the whole rural population of China had signed up (about 685 million people). The population in question can be as small as a handful of people or as large as all the inhabitants of several continents (for instance, in the case of a pandemic).
And owing to the negative effects brought on by aging of the population and the burdens of diseases, arbitration, industrialization, and globalization, Chinese public health officials are encountering greater difficulties than ever. The operating models of public health are old and that cannot meet present requirements. The main problems at that time are poor capacity to respond to public health emergencies, severe inequality of health care services, and lagging development of public health information systems.
The public health in China can gradually meet the requirements of social development and the increasing public demand for health care services only when the public health is directed by informational, globalization, detoxification, and humiliation. 2. 12 Background information of the market – Healthy trend in china Sources: WHO – china health profile As arbitration and industrialization continue to grow and the living standards of undress of millions of people increase as a consequence. 2. 2 competition 3. Direct Competitor Comparison NC AMAZON WAG Industry Market Cap: 4. B 142. BIB 109. BIB Employees: 6,100 1 17,300 130,000 Story Rev Growth (you): -0. 03 0. 20 0. 10 0. 00 Revenue ™: 2. BIB 85. BIB 135. BIB Gross Margin ™: 0. 38 0. 29 0. 19 EBITDA ™: 499. MM 3. BIB 10. BIB Operating Margin ™: 0. 17 0. 06 Net Income ™: 251. MM -21 5. MM 4. BIB PEPS ™: 2. 72 -0. 47 3. 87 PIE ™: 17. 09 24. 55 PEG (5 yr expected): 1. 67 -8. 55 1 . 44 ™: 1. 59 1. 69 0. 82 AMAZON = Amazon. Com Inc. C.V. = C.V. Health Corporation WAG – Industry = Drug Stores 3. 2 macro-environment 2. 31 size and growth rates 2. 2 key market segmentation 1 . Geographic Segmentation I. Countries – For centuries China stood as a leading civilization, outpacing the rest of the world in the arts and sciences, but in the 19th and early 20th centuries, the country was beset by civil unrest, major famines, military defeats, and foreign occupation. After World War II, the communists under MAO Sedona established an autocratic socialist system that, while ensuring China’s sovereignty, imposed strict controls over everyday life ND cost the lives of tens of millions of people.
After 1978, Mayo’s successor EDEN Gapping and other leaders focused on market-oriented economic development and by 2000 output had quadrupled. For much of the population, living standards have improved dramatically and the room for personal choice has expanded, yet political controls remain tight. Since the early sass, China has increased its global outreach and participation in international organizations. GAP $13. 39 trillion (2013 est.. ) country comparison to the world: 3 $12. 43 trillion (2012 est.. ) $11. 54 trillion (2011 est.. ) toe: data are in 2013 US dollars $9,800 (2013 est.. Country comparison to the world: 121 $9,100 (2012 est.. ) $8,300 (2011 est.. ) IL. Languages Standard Chinese or Mandarin (official; Photograph, based on the Beijing dialect), Hue (Cantonese), Www (Shagginess), Imbibe (Fuzz), Minoan (Hookier-Taiwanese), Axing, Gang, Hake dialects, minority languages (see Ethnic groups entry) Note: Chuan is official in Axing Chuan, Hue is official in Gudgeon, Mongolia is official in Nee Mongol, Guru is official in Gaining Augury, Gorky is official in Gaining Guru, and Tibetan is official in Gazing (Tibet) 2. Demographic Segmentation I.
Age total: 36. 7 years male: 35. 8 years female: 37. 5 years (2014 est.. ) Our product target aim at 18-47 it. Occupation All occupation are target iii. Education level Junior High school to PHD education level are target. 3. Behavioral Segmentation I. Attitude toward People who want to maintain their health it. Usage rate A daily consumption product iii. Loyalty status High 4. Cryptographic Segmentation I. People activities In china, people love sports. It have a very long history and rich culture in sport. The national quadrennial multi-sport event similar to the Olympic Games.
Football, maybe invented by the Chinese, is the number one sport in China, the market is highly involved by the Chinese people, the market size and the money that is in football is a lot of money. Some top athletes had quit at the height of their careers because they were uncertain about life post retirement. The professionalisms of sports has encouraged the emergence of a sports management market and business-structured systems. Sports club operations now cover ticket sales, advertising, club transfers, commercial matches, television broadcasting and other commercial activities.
Another aspect of the reform is that some Chinese athletes have Joined foreign professional leagues. Such as basketball NAB hall of framer, retired NAB star Way Mining is a really big influence in China, not Just in basketball, but in all kinds of area like Way Mining restaurant, Way Mining basketball club, Way Mining health products Etc. There are concerns in china. Pollution is a huge problem because of the industrialization benefit the economic growth. “Suffering from pollution and traffic has led to a very strong demand for leisure and outdoor activities where one can enjoy clean air and water.
There is a growing appetite for sustainable development and getting back to nature, which we can benefit from,” explains Kafka Chine, General Manager for Aimer Sports’ Outdoor Sports in China. Changes in the marketplace Along with the dream of a healthier and more active life, the business and retail environment is shaped by changes in the infrastructure and the digital world. Rapid reaction to market changes is needed in order to stay ahead of the game. “One phrase that I have been using for years is ‘To succeed in China, we need to become vertically capable with the brand’.
This means that we need to be fully competent inside the whole value chain, from brand positioning to communication with consumers, from choosing the right product line strategy to the development of the most effective retail formats, manage not only the sell-in but also the sell-thru with full commitment,” Kafka continues. Building brand awareness Besides the value chain, brand building is also important. As in most developing markets, the demand for quality brands is high in China as well, especially among the more educated people. In building brand awareness, Kafka mentions the importance of opening own retail stores in strategic locations.
Social media presence and digital marketing is also something that the team is investing heavily in. 5. Segmentation by benefits I. Benefits sought by consumer Multivitamin supplements are commonly provided in combination with dietary minerals. A multivitamin/mineral supplement is defined in the United States as a supplement containing 3 or more vitamins and minerals that does not include herbs, hormones, or drugs, where each vitamin and mineral is included at a dose below the tolerable upper level, as determined by the Food and Drug Board, and does not present a risk of adverse health effects.