Analysis Of The Poy-Sian Brand

Poy-Sian is manufactured by Gold Mints Products Company Limited. This company was established in 1936 and is based in Bangkok, Thailand. The Poy-Sian brand is viewed as a trusted brand of good health and strength worldwide. It is an external medicine which has a diminished effect on dizziness. Poy-Sian also contains menthol, camphor oil, eucalyptus and parsnips. The Poy-Sian brands networking began in the form of a small traditional herbal shop in Chinatown in 1936. In the past 10 years, Gold Mints Products Co. Ltd has been able to generate good revenue from their sales within this pharmaceutical market. The company soon developed a second generation line of products under the Poy-Sian brand of which they refined the inhaler formula, ultimately completely transforming it into a one way inhaler called PEPEX. The PEPEX line was successful for ten years and thereafter, their R&D department developed a brand new formula from original secret ingredients, which would later transcend into the brand as we know it today. The 2-in-1 Poy-Sian inhaler became a huge success due to its refreshing and convenient property. As we know, this product is extremely small making it easy to carry around, thus making it a substitute for balms and medicinal oils since as early as the 1990s. Since then, the company has actively been working to expand the product portfolio by way of developing new products which appeal to the health conscious individuals, for example: Pimsaen and Som-Mue, to name a few. Today, due to the GMP certified factories which consist of state of the art technology, the Poy-Sian brand is now the leading brand in Asia as well as a recognized cultural brand in Thailand. This company still manages to maintain the mission and passion of the founder, who founded the company 80 years ago.

4-Ps:

Product Line

Poy-Sian currently has 7 products which include Balms, Oil and Inhalants.

Places of Distribution

Poy-Sian took over 20 years to build their own market. Currently, their products are being distributed all over Thailand, for instance: local shops and markets around your residential area, 7-elevens, small department stores such as Max-Valu or you can also buy variety packs in department stores such as Makro, Tesco Lotus, Big C etc.

Price

The price of the Organic Aromatherapy Oils range from 20 to 70Baht. Each product within the line presents different scents, different organic oil extractions and also differ in terms of the quantity per one product.

The price varies based on the amount of product in one order- in bulk purchases, the price per Inhalant can drop to as little as 13Baht. The most popular aromatherapy product commonly chosen is Poy-Sian 2 in 1. As it cost 18 baht per 2ml.

Pimsaen of Poy Sian cost 18 baht per 3ml, 22 baht for 8cc and 30 baht per 5 ml.

Pe-Pex of Poy-Sian for the relief of cold with the price of 30 baht.

Second generation Poy-Sian brand 2 in 1 refreshing and aroma oil stick with the price of 18 baht per 2ml.

Pax cold feeling with the price of 22 baht per 2ml and 50 baht per 50ml.

Pepex 2 in 1 inhaler for congestion relief priced at 24 baht per 2 ml.

Yamong, Aromatherapy balm priced at 30 baht per 22 grams.

All the prices listed are according to the 7-11 department stores.

Poy -Sian 2in1 inhaler priced according to Tesco Lotus is 22 baht for 2ml which is 4

baht more expensive than 7-11, however according to Amazon the price per 2ml has risen up to 35 baht.

Pimsaen of Poy Sian cost 26 baht per 8 ccs. But according to Herb-a-holic - the element shop -it costs 32 baht per 8 cc. According to Amazon the price of the product of 8 ccs is 170 baht.

Pepex costs 20 baht which is 2 baht cheaper than 7-11 and through Amazon costs 54 baht per 2ml.

Yamong Aromatherapy balm costs 60 baht per 22 grams as per Amazon, which is double the price of the one at 7-11.

Pimsaen cost 64 baht for the 5ml on Amazon.

Poy Sian second generation Mark 2 costs 38 baht each on Amazon.

Pax cost 43 baht per item on Amazon.

The price of Poy Sian seems to increase on an International Platform based on the demand. Whilst it may be cheap in Thailand, due to taxes and shipping costs it is a lot more expensive in overseas countries and markets.

Channels used for Advertisement and Promotion

20 years ago the internet was not a platform in which to connect with customers, thus this brand relied on advertising by way of radio, television, newspapers and magazines. Today, their advertising platform has extended to better signage in stores and various imagery around the city to promote the product.

STRATEGIC FOCUS

Poy-Sian maintains a product development strategic focus. They enhance current products and product packaging to produce a second or third generation but do not come up with completely new products. They do this to maintain their current clientele and to make sure they stay true to their mission, but at the same time they appeal to a new market by adding or removing certain ingredients to improve current products.

MISSION

The reason the Poy Sian company and brand exists is to help their customers, their families and friends stay in good health. Poy-Sian’s main mission is to be a trusted symbol of excellent health all over the world, keeping the original natural herbal product formula and maintaining their commitment to their time-proven and sensitive spirit along with maintaining their standard of high quality. The organization strives to become Asia’s leading inhaler brand, using their almost unchanged and trustworthy formula as their main competitive advantage.

OBJECTIVE

Poy-Sians objective is to maintain their current reputation as a leading and trustworthy menthol brand in Asia, but also to expand further abroad. They wish to expand their product line whilst not changing or straying from their original recipe or mission of their founding father. The brand wishes to expand through the improvement of current products by means of innovation and product enhancement, to eventually have products for every person, be it young or old, light skin or dark skin, for permanent or day to day use etc. The brand wants to ensure that their product reaches everybody conveniently and that they cover all areas of distribution.

SWOT ANALYSIS

Internal

Strength:

The company has long history of over 80 years started in 1936 and is being recognized as a symbol of health and strength in Asia.

Poy- Sian has excellent formulas in their products with many secret ingredients.

Their main product (Poy-Sian inhaler) is very easy to use and works effectively. It is also small and compact making it easy to carry around on a daily basis.

To fulfill the need of all customers, Poy-Sian also expands their portfolio with a variety of products such as: Pimsaen, Som-Mue to name a few

Poy-Sian is one of the leading brands of inhaler in Asia and they are especially well known in Thailand

The firm has GMP certified factories with state of the art technology, so it is committed to quality

Weakness:

The sales of Poy-Sian still rely heavily on the Thai market as the brand name and products are still extremely weak on the international trade platform.

Simple and traditional design has lasted for decades whilst some competitors have better designs which make their designs more appealing – Poy-Sian should work on enhancing their packaging to make it more appealing to the customer.

The company still lacks sufficient marketing of their products, as their marketing strategies seem to be mostly by means of mouth-to-mouth transmission.

External

Opportunities:

A growth potential market in neighboring countries for this kind of product – such as Vietnam, India, China … In addition, there are still many potential areas which the company has not yet expanded to, but can.

Poy-Sian has a great number of loyal customers in Thailand and their following continues to expand due to the products efficiency, effectiveness and reliability.

Threats:

Many traditional herbal inhalers could be used to replace Poy- Sian, such as Herbpiness, Anona, Fung etc.

Many strong competitors in the business with similar products such as Vicks, Pigeon, Siang pure are constantly designing new products and formulas which places great competitive pressure on the Poy-Sian brand

In terms of International expansion, sparks the topic of inhalants being illegal in certain countries which will in effect hinder the brands expansion to those regions.