Table of Content

Assessment
1

Introduction

Present a brief history / background of the chosen company / brand

and its nature of business. Its vision, mission and objectives.

Identify the target market of the brand / product or services.

The Marketing Mix Strategies

Identify and discuss the FOUR (4) marketing mix strategies of

the company.

Page Number

5-8

Market Opportunities

Identify TWO (2) market opportunities that exist or may exist in

the business or industry.

9-10

The prospective market growth of the market opportunities as

mentioned above.

Recommendations

Discuss THREE (3) ideas each the company can make use of the
identified opportunities mentioned above to increase its profit.

11-12

Conclusion

To sum up the assignment and explain what you have learned from
the project.

13

Bibliography

14-18

References

19-57

UBTM1013 Principles of Marketing

1. Introduction
The story of Eu Yan Sang starts from its founder, Eu Kong Pai. He left China and
reached to a small mining town of Gopeng, Perak in 1870s. At that time, most people in
Gopeng relied on opium to cure their illness. This inspired Eu Kong Pai to establish his
maiden Traditional Chinese Medicine (TCM) shop named Yan Sang in 1879, for
helping those ill people. In 1898, his son Eu Tong Sen took over his family business.
With his effort and wit, Eu Yan Sang has developed into big Chinese medicine room, and
expanded from Malaysia and Singapore to China and Hong Kong. In year 2000, the
company renamed Eu Yan Sang International (EYSI) and was listed in the Singapore
Stock Exchange.
Eu Yan Sang conducts Chinese Herbal retail chain. It retails health foods and
supplements, Chinese herbs and Chinese proprietary medicine. Mission statement of Eu
Yan Sang is to care for mankind by helping our consumer realise good life-long health.
Vision statement of Eu Yan Sang is to be a trusted, global leading integrative healthcare
and wellness company with a strong foundation in traditional Chinese medicine. The
objective of Eu Yan Sang is to help its customers enjoy a good, long and fulfilling life by
providing the best natural healthcare products and services (Traditional Remedies Made
Contemporary: Redesigning Eu Yan Sang, 2004). Eu Yan Sang targets on healthconscious consumers. Most products of Eu Yan Sang are to enhance immunity system
and promote fitness.

UBTM1013 Principles of Marketing

2. The Marketing Mix Strategies
(a) Product
The brand name Eu Yan Sang inherits from the Chinese words Eu, Yan and
Sang. Eu is the surname of the founder, Eu Kong Pai. Yan brings the meaning of
compassionate, whereas Sang signifies life. Eu Yan Sang is categorized as family
brand because it identifies its product lines. Examples of their products are Eu Yan Sang
Bak Foong Pills, Eu Yan Sang Bo Ying Compound, and Eu Yan Sang Bottled Birds
Nest.
Attractive design in packaging captures customers attention. During Chinese
New Year, Eu Yan Sang markets Bucket of Gold, which is an 8-sided, red bucket
which contains 8 oranges, and can attract the customers interest as it means
auspiciousness and prosperity for Chinese. Packaging also means to enhance the
convenience for buyers. Eu Yan Sang offers ginseng sachet and packaged herbal soups as
fast moving consumer goods (FMCG) is prevalent now. Labelling provides information
of the products, such as the ingredients, the expired date and the functions of the product.
Since Eu Yan Sang offers many types of Chinese herbs, it is imperative to state the
functions of herbs in labelling for ease of differentiation.
We choose Eu Yan Sang Menoease Pill to explain new product development.
During idea generation, there are several methods can be done to generate ideas, like
meeting and collection data from suppliers. There is decision made to invent a new
product which acts similar like Bak Foong Pills to suit most elderly woman. Then, it is
followed by screening. The company have to ensure that it can attract many customers,
and gain profits, as well as follow companys objectives. Under business analysis, Eu
Yan Sang should investigate potential market and competitive strength. The product,
Menoease Pill, is specially designed for elderly females. Eu Yan Sang has competitive
advantage since its main competitors like Brands and Hai-O do not have such product
yet. As for product development, Eu Yan Sang has co-operated with Chinese University
of Hong Kong to develop their ideas into realistic product. The university has done their
research for three years before launching the product. On test marketing, they would let
their proposed target market to have sample of Menoease Pills. Marketers must gather
response from target market (elder women) so as to determine the success of the product
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UBTM1013 Principles of Marketing

in market later. Finally in commercialization, Eu Yan Sang offers its Menoease Pills to
the market.
There are products which can be described under Product Life Cycle. Nestum 3in-1 cereal drinks with American Ginseng and Chinese Angelica (Dang Gui), a product
under collaboration of Eu Yan Sang and Nestle Malaysia, is in introductory stage since it
is offered in market on 2nd October 2012. Since it is new to market, informative
promotion is needed to make customers aware its existence. Products like Eu Yan Sang
Bak Foong Pill and Eu Yan Sang Bird Nests Series are in maturity stage, whereby these
products are commonplace among customers. Diversification of brand or models should
be done to defend mature products.
Eu Yan Sang focuses on quality as it is one of its core values. Their two Good
Manufacturing Practice (GMP) plants received quality assurance, ISO 9001: Eu Yan
Sang Centre (located in Hong Kong) received ISO 9001: 2008 from Hong Kong Quality
Assurance Agency, whereas Weng Li Sdn. Bhd. (located in Malaysia) was granted ISO
9001 international accreditation.

(b) Pricing
Quality is one of the core values of Eu Yan Sang. Therefore, Eu Yan Sang set prestige
objective as their pricing objective which focuses on product quality. Pricing strategy that
Eu Yan Sang practice in this context is market skimming. For example, Eu Yan Sang has
products which have high image and high quality, like Pure Pearl Powder. There are only
few competitors in Traditional Chinese Medicine offering pearl powder in market. Price
policy that Eu Yan Sang implements is psychological pricing. This is because most
consumers would think of high price, high quality.
Next, Eu Yan Sang targets on sales maximization. In 2011, Eu Yan Sang
expanded 26 new TCM store and 4 new clinics to meet the volume objectives. The
penetration pricing strategy is taken by the Eu Yan Sang to meet the competitors. Its main
competitor, Brands uses the lower price to compete with Eu Yan Sang Essence of
Chicken. Brands Essence of Chicken is about RM48.80, but thanks to adoption of
economics of scales, price of Eu Yan Sang Essence of Chicken is only about RM36.80.

UBTM1013 Principles of Marketing

Based on the annual report of 2011, the sales of Essence of Chicken have increased
almost 6% to S$9.2 million.
Lastly, Eu Yan Sang encounters with another main competitor, which is Hai-o
Group. To meet the competitive objective, Eu Yan Sang implements competitive pricing
strategy and become the winner of the market. During Chinese New Year, sales of Hai-o
hamper increases dramatically. To defend its market share, Eu Yan Sang matches with
Hai-o price reduction and introduce the Bucket of gold promotion. This promotion
helps Eu Yan Sang to achieve its new sales records, where it grows by by 9% to S$266.3
million to become the winner of the year in TCM industries.

(c) Distribution
Eu Yan Sang has a wide distribution: Malaysia, Singapore, Hong Kong, China, and
Macau. Eu Yan Sang distributes their products through indirect channel, where they have
wholesalers and retailers acting as marketing intermediaries before selling products to
final customers. According to DMG Research from OSK, wholesales of Eu Yan Sang
majorly stems from Hong Kong (FY12 Results Review: Eu Yan Sang, 2012). Based on
the Standard & Poors Report in 2010, Mannings and Watsons are two examples of large
chain stores which Eu Yan Sang has chosen for selling their products with distribution
arrangement. In China, a major distributor has helped Eu Yan Sang to distribute products
like Bo Ying Compound and Bak Foong Pills to hospitals and pharmacies.
As for retailing, there are approximately 200 retail outlets of Eu Yan Sang in
Malaysia, Singapore, Hong Kong, China and Macau. In addition, there is Eu Yan Sang
Restaurant in Mid Valley Megamall, Kuala Lumpur. Eu Yan Sang has also acquired most
of the business and assets of Healthy Life Group Pty Ltd of Australia on 16 February
2012, according to The Edge Singapore. The organization has become the subsidiary of
Eu Yan Sang International Ltd, and directly, Eu Yan Sang has control over 125 stores
and a distribution centre for expanding its business to Australia.
Eu Yan Sang has used several types of transportation for distributing products.
Since Eu Yan Sang has its outlets majorly in five countries, air freight can help in
delivering the products of Eu Yan Sang to different countries fast. Motor carrier is
another option for Eu Yan Sang to deliver the products to retail outlets locally. There are
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UBTM1013 Principles of Marketing

trucks under name of Eu Yan Sang which play important role in distribution of products
of Eu Yan Sang.

(d) Promotion
Eu Yan Sang adopts sales promotion. The latest special promotion by Eu Yan Sang is
Moms Club Healthy Fun Fest. By getting 1 beautiful Bo Ying Cares Thermos Flask
Bowl with every purchase of 8 boxes of Eu Yan Sang Bo Ying Compound, it grants
consumers saving up to 15% on nutritional supplements for health care. It is a short-term
promotional activity organized by Eu Yan Sang to attract and stimulate consumers to buy
the company products. In addition, attach with bringing their child for height and weight
measurement to understand their nutritional needs for those who possess Eu Yan Sang
membership only. By using short-term incentives such as discounts coupons,
complimentary gift and membership entitled consumers to enjoy many advantages and
privileges.
Eu Yan Sang has launched much kind of advertisements in order to give
information to and persuade the members of the audience, such as media and paper. Eu
Yan Sang has created the Facebook page. Besides, Eu Yan Sang has also advertised
through television commercial, Astro. A blog named Malaysia Food Promotion has
advertised Eu Yan Sang during Chinese New Year. Besides, through celebrity
testimonials, Eu Yan Sang has invited Thomas Jack and two Malaysian singers to
promote their product, Essence of Chicken with Ginkgo Biloba Extract. With any single
purchase on the product, Eu Yan Sang will give Thomas Jack cups with three different
attractive designs.
In addition, public relation is another promotion of Eu Yan Sang. For example, Eu
Yan Sang have been organizing One Year One School Charity Campaign annually
since year 2005. The main purpose is to extent the support range in whole Malaysia that
let society participates in an education fundraising program. In order to support this
fundraising program, consumers only need to buy 3 boxes of Eu Yan Sang Essence of
Chicken with Ginkgo Biloba and the company will automatically allocate RM5 ringgit
into the One Year One School fund. Although it serves broader objectives, it will
indirectly establish a noble corporate image to promote the company products.
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UBTM1013 Principles of Marketing

3. Market Opportunities
We have found two types of market opportunities for Eu Yan Sang: technology and
socio-cultural. Technology can help Eu Yan Sang to grow in Traditional Chinese
Medicine (TCM) market. One of the scientific technologies endorsed by Eu Yan Sang is
Individual Chromatographic Fingerprinting Technology. It allows the precise
quantification of constituents and their attributes used in preparation of the ingredients
like herbs and other properties of Chinese Medicine. Fingerprinting Capabilities possess a
monograph library of more than 500 herbs that purpose is for ensure the herb extraction
and concentration database will continuously stay at stability and consistency of quantity
as well as their quality. Ying Liu et al. (2010) states that many enterprise of TCM fails to
manage the resources efficiently and effectively due to lack of technology.
Virtual stores have become essential part in market nowadays. Through Internet
and smart phones, customers can just have their purchase in virtual stores which provide
myriad of products and fountain of information (Chen, I.Y.L, 2010). After doing careful
research, Tesco has done their own virtual stores in South Korea since most South
Koreans possess smart phones. Customers would only need to scan the QR-code from
poster in order to find information of products, before having online purchase (Lee,
Chung, Bang, & Lee, 2011). Both Fingerprinting technologies and virtual stores stand to
give good prospect in future. Since many people now has become health-conscious, and
it is important for preventing resources wastage which can incur costs, Fingerprinting
technologies stand to be useful for every enterprise to manage resources efficiently, and
produce high-quality products. Virtual stores will become profitable in future since trend
of using smart phone expands, and number of people expose to Internet has gradually
grown.
For socio-cultural context, we have seen that there is demand on TCM from other
regions, such as Europe (Yang & Das, 2011). Moreover, the phenomenon where there
will be more and more countries to give TCM a legal status within the countries, as well
as marketplace globalization, grants TCM chance to gain more customers from regions
outside Asia (World Federation of Chinese Medicine Societies, 2012). After observing
that most of TCM is actually safe for consumption (The Conversation, 2012), there are
relieves among most people from countries of other regions who actually had fear on
9

UBTM1013 Principles of Marketing

consuming TCM. From the dissertation of Sharon W. Bertrand (2009), seventeen nurses,
who had used modern treatment previously, had their illness recovered after using
treatment of TCM. This proves that TCM has its usefulness. Besides that, there are
integrations of TCM and Western Medicine (WM) in reality. According to Zhang
Rongxun (1982), some psychiatric disorder, like adhesive obstructive arachnoiditis, can
be treated with combination of TCM and WM. Added by James Lake (2004), both TCM
and WM can be skillfully integrated, and each can benefit other. In short, TCM will gain
its own legal status worldwide, as well as recognition through harmonization between
TCM and WM in future, and therefore, a privilege for TCM.

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UBTM1013 Principles of Marketing

4. Recommendation
With using available Chromatographic Fingerprinting Technology, Eu Yan Sang can
produce more new products with high quality. We suggest that Eu Yan Sang should
identify unmet needs among customers. There should be always analysis on market
before making any products. Identification of unmet needs can be done through
approaching to customers, recognizing their problems, and understanding their business
or operation and its workflow (Cooper, R.G., Edgett, S. & Kleinschmidt, E.J., 2002).
Then, Eu Yan Sang should find those needs in which they can serve profitably. For
example, Eu Yan Sang Menoease Pill is invented due to high needs among elder woman.
Successful market planning and implementation helps a company to gain more profits
eventually.
We recommend that Eu Yan Sang can market its products through virtual stores.
With virtual stores, Eu Yan Sang can save much cost as the setup cost and maintenance
cost for the store is low. The right kinds of products offered by a virtual store can create
cost advantages and attract customers (Chen & Tan, 2004, cited by Chen, I.Y.L., 2010).
Setting virtual stores posters can save the customers time and can approach to
customers more closely, as the store itself reaches to people. According to the research
from Euromonitor International (2012), as well as Mohd Azam Osman et al. (2012), the
trends of using smart phones are increasing from years to years. However, Eu Yan Sang
needs to determine regions which have its mass smart-phone-users customers before
establishing the virtual stores posters. Eu Yan Sang can also set up seasonal virtual
stores, in which the virtual stores posters are only available during certain period of
time like pre-Chinese New Year. It is important for marketers to offer right products, at
right place and time. In short, with the upward trend of smart phone use, as well as more
people will get exposure of Internet, virtual stores play important part to give promise Eu
Yan Sang to gain more customers, indirectly, more profits
As there is demand from non-Asia countries on Traditional Chinese Medicine
(TCM), and TCM will gain its more-legal status in many countries in future, therefore we
suggest that Eu Yan Sang should expand its market to other region which perhaps has
demand on TCM highly. Eu Yan Sang would need to understand the available law on
TCM in every country before marketing their products in other regions. Many western
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UBTM1013 Principles of Marketing

countries such as United States, Canada, Britain and other developed countries have
endorsed regulations and policies for Acupuncture and Traditional Chinese Medicine,
from the research of the Wu Bing Jiang (2012) and Yang Jingzhong& Devapriyo Das
(n.d.). We suggest that Eu Yan Sang can collaborate with Western Medicine (WM)
enterprises to establish Chinese and Western clinic and hospital. With current treatment
offered like acupuncture, massage, Tui Na and herbal medication, clinics of Eu Yan Sang
can harmonize the TCM treatment with modern treatment. According to Professor Xuemei You, integrated TCM and WM therapy is safe and effective in treating disease like
arteriosclerosis obliterans (ASO). This helps to portray globalization of TCM, as well as
reflect trend of combining TCM with WM in reality. Internalization of TCM nowadays
can help Eu Yan Sang to gain more profits.

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UBTM1013 Principles of Marketing

5. Conclusion
Eu Yan Sang has become an established company in the TCM industry due to few
reasons: the greater quality of the products and services, affordable price for all income
levels of people, a whoop and a holler promotion and well-planned distribution strategy
around its target market. With identifying marketing opportunities aroused from external
environment, Eu Yan Sang should utilize the opportunities in order to gain more profit.
We have learned numerous experiences upon completing this project. Rome
wasnt built in a day. A company cannot become successful in a short time; instead it has
to go through stages by stages for doing well. Planning and analysis on market
environment should be done before implementing any strategies. Company should also
know to have marketing controlling to reduce defects.
Besides that, we have actually gained knowledge on Traditional Chinese
Medicine (TCM) after accomplishing this project. Since Eu Yan Sang involves in TCM
industries, we have to do research on products related to TCM. Indirectly, we have learnt
the usefulness of alternative medicine. As the final sentence, we would like to thank those
who have helped us in this assignment, directly or indirectly.

(2958 words)

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UBTM1013 Principles of Marketing

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