Marketing: Product Lining and Tiger Balm Essay Example

and depth. Product width refers to the number of different product lines the company carries. Product width of Tiger Balm created new use situations for its products by classifying them into Home, Work and Play.

Product length refers to the total number of items the company carries within its product lines. Product length of Tiger Balm with You at Home line include Tiger Balm White, Red, Soft, Liniment and Joint Rub. Tiger Balm with You at Work line include Tiger Balm Neck & Shoulder Rub, Neck & Shoulder Rub Boost, Back Pain Patch, Plaster Warm and Refresher. Tiger Balm with You at Play line include Tiger Balm Mosquito Repellent Spray, Muscle Rub, Plaster Cool and Back Pain Patch. Product depth of Tiger Balm refers to the number of versions offered of each product in the line.

A lavender scent was added to the original Tiger Balm White to create Tiger Balm Soft which is suitable for the young. Tiger Balm Plaster Warm comes in two sizes small and large. The large plasters are meant for aches pains in the lower back and shoulder blades, while the small plasters are meant for arms, legs and joints. Tiger Balm Neck & Shoulder Rub Boost is a line extension of Tiger Balm Neck & Shoulder Rub and was introduced to meet the needs of consumers who required a stronger version of Tiger Balm Neck & Shoulder Rub.

Tiger Balm with You at Play, these products are created with the intension of aiding sportsmen and sportswomen in recovering from injuries in the fastest possible time. Compare the product mix of Tiger Balm with its competitors, it should continue coming

up with new products such as soap, body shampoo, hand wash and sanitizer. This will allow Tiger Balm to remain competitive in the various markets and increase its brand shares compared to its close competitors such as Vita and Herbalife. Question 2 How Tiger Balm organize its product in its communication to its customer ?

Does this approach make sense ? How can it be improved ? When Tiger Balm first step into a new market, Tiger Balm advertised their product using non-traditional forms of media such as YouTube and Google to appeal to American consumer. This form of advertising was well received, as it broke away from traditional forms of advertising such as newspapers and radio. Tiger Balm also built a website which is, MyTigerBamlm. com , so that customer can go through the website to know more about the Tiger Balm.

They also can follow up what was new at Tiger Balm such as the product, promotions and product details. This approach do make sense because nowadays, many people was using the internet, so they can online anywhere they want. So Tiger Balm approach to customer was worth and Tiger Balm can attract more customers to them, and customer will loyal to company and keep follow up through the website of the company. In the website also contains the promotions that Tiger Balm offers, list of shops that customer can go to uy the product , and also symptoms analyzer which customers have to answer 2 simple question about themselves and systems will analyze the answer and the system will show what they recommend to the customer to heal the pain. Tiger Balm

can improved this approach with they always update their website and follow up the feedback that they get from their customer. So that customer will always keep following up about the company on the website because they can go through the website because they know that the admin was active and they can go through the website if they want to know about the new product.

Other approach that Tiger Balm can use was they give the sample to consumer. From that, consumer can use the sample first and see whether the balm was effective or not. Especially to a new customer. So that they can know the effectiveness of the Tiger Balm and they can trust the product and will buy the product after they first use it. Sometimes, consumer do know about the product but they afraid to buy it because they don’t know whether it was effective or not. Question 3 At what stage of the product life cycle are Tiger Balm’s products?

What strategies is Tiger Balm using? Are these appropriate ? In order to continually manage its product and increase its market share, the Tiger Balm doing many ways to gave customer more reason to use its product. It can be shown from the various from of it products, it is ointment, plaster, oil, spray on, cream and lotion. From this various, the company make the classified and used situations for its product by classifying them into Tiger Balm with you at Home, Tiger Balm with you at Work, Tiger Balam with you At Play.

This product come in various sizes and are mostly portable for ease of use. From

this strategy the uses can be feel comfortable and to provide relief for a variety of discomfort and aches. Furthermore, the company make a product modification involves altering a product’s characteristic such a quality performance, or appearance to try to increase the product’s sales. One way Tiger Balm modified its product was through line extension. As mentioned earlier, its created Tiger Balm Neck & Shoulder Rub Boost which was stronger version of Tiger Balm Neck & Shoulder Rub.

In this way, the company can change product characteristic to entice more consumers to try its product. From the strategy, that implemented by the company, it was successful to grab the customer for trying the product which manufactured by the Tiger Balm. It can be seen from the suitability of the customer, various of product and effective of that product to the customer. It was found that the effective of product which was offer from this company can be good for the customer and the same time can bring the positive impact for the society.

For increase the output and demand of customer, the company should do or play with the price. They must know to found the new way to get the resources which can be effect to the cost of manufactured. If the cost of manufactured cab be reduce the customer can be get the product which the low price and at the same time the curve of demand will be decrease better. On another hand, the company can make the bigger advertisement for introduce their product and plan the strategy from the advertisement so that its can be effect to the customer.

The market

power view of advertising is that it creates or augments the perceived degree of differentiation among brands. This will increase brand “loyalty” which, in turn, will reduce demand elasticises, increase mark-ups of price over marginal cost, increase barriers to entry and reduce consumer welfare. However, it is controversial whether advertising actually creates barriers to entry, because this depends on how effectively new brands can use advertising to induce trial by consumers who are loyal to other brands.

A key point is that advertising may affect the price elasticity of demand for a brand in two fundamentally different ways. Question 4 Besides offering new products and modifying current products, what can Tiger Balm do to meet the challenges it faces in the Asian and global market ? Although Tiger Balm already do something are giving advantage to them, but it is still not enough for new challenges are always happening in the future. In this case, to meet the challenges it faces in the Asian and global markets.

Tiger Balm must thinking out the box to have faces the challenges between other competitors. For remain in the markets especially in global, Tiger Balm need progressive and aggressive so much like other competitors in the advertisement. Example, Dettol and Herbalife have very good influence in the media. So that chance, they use for to attract more people to buy product. It was happened because they do again and again to show the benefit of their product in the television, radio, newspapers and extra. Feedback situation, many people more know about this product compare other product.

For to changes that perception, Tiger Balm must strive to fight with

that ways and need to increase their cost advertisement in their marketing to make their name more globally such as other competitor and maybe someday become a leader in this industry. Generally, Asian like more traditional life and Tiger Balm maybe will have part in their people life. So Asian have good potential and to more established, Tiger Balm need a strategic partnership to expand its product line with various companies in Asian Markets such as India. This can help to increase their product, get a market share and high volume sales not only in Asian but globally.