3.  Facing saturated market

No matter now hard you push, sales figure remains unchanged? Many competitors’ products look like yours? These implied the existing market is saturated. All you need is a detailed plan in broadening your cliental, enlarging your market share and expanding your business in new markets!

Brands have different tactics towards expansion, either locally or internationally. To expand local market, existing brands re-package their brand images through comprehensive marketing strategies. Kei Wah Bakery, a traditional brand in Chinese bakery, was able to re-build its images as young, grand and classic. Its slogan in TV ads “Hong Kong’s Gift” has gained recognition from Hong Kong people, which enabled Kei Wah to differentiate from other competitors.

Another way is to diversify investment into different markets. By developing new brands or products, I.T., a large-scaled retailing chain stores based in Hong Kong, owns a number of clothing brands. One of its brands, “b+ab”, specializes in office lady wardrobe while its another brand, “Double-park” focuses in boyish clothing. Companies can be benefited through introduction of new brands to create noise and bring freshness to customers.