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Table of Contents
Contents
Executive Summary ..................................................................................................................................... 2
Introduction ...................................................................................................................................................... 2
Current Business Situation ....................................................................................................................... 3
Financial Analysis ......................................................................................................................................... 4
Strategic Analysis ......................................................................................................................................... 7
Summary ......................................................................................................................................................... 10
Strategic Plan ............................................................................................................................................... 10
Implementation Plan (New product strategies) ............................................................................ 13
Financial Forecasts ...................................................................................................................................... 17
Review of Corporate Governance Practices ................................................................................. 18
References ..................................................................................................................................................... 18
Appendices – Samlple ............................................................................................................................... 19
........................................................................................................................................................................ 19
Questionnaire ....................................................................................................................................... 20
Summary of questionnaire ............................................................................................................. 23
2
Executive Summary Having been awarded the Hong Kong Top Ten Brand Name Awards in 1999, Hoe
Hin Pak Fah Yeow Manufactory Limited is recognized as a reputable and traditional
pharmaceutical manufacturing company originated in Hong Kong.
In this report, we investigate and analyze the performance of the company in the
past three years and its current situation. For the financial analysis, the ratios reveals
that the company performed the worst performance in 2011 compared with 2010 and
2012 because of the sharp increase in operation expense. It alerts the need for the
company to enhance the efficiency of its sale and profitability. We analyze its internal
and external factors that affect the company by using SWOT analysis. Furthermore,
we have conducted the questionnaire to investigate the market position of the
company and the consumers’ view on the company. It shows that some of the Hoe
Hin’s products are lack of awareness.
Suggested strategic and implementation plans with financial forecasts are provided
in the last section. It is recommended to improve its sustainability and profitability by
using 4Ps marketing strategy including introduction of new product and new
promotion strategy. We are confident that these recommendations are helpful in
achieving the company’s goals.
Introduction
Established with a history of more than 85 years, Pak Fah Yeow International
Limited was a company based in Hong Kong producing and marketing over the
counter traditional analgesic medicine. Hoe Hin incorporates a list of different
products; White Flower Embrocation, in particular, is the principal multi-purpose
household product of Hoe Hin marked with great success throughout the years. The
quality of Hoe Hin Brand products was proved through various health and medicine
councils as well as the award received. Facing the dynamic change of the
environment, the company is continuing to expand into new international market in
order to enhance its competitiveness.
Current Business Situation
In order to analysis the customers' impression towards P
have designed a questionnaire and collected 89 out of 100 questionnaires from
participant in different generation.
From our observation, the most market consumptions are contributed from the
generation of Baby Boomer. The market size is relatively lower than the “Zihua
Embrocation”. Also, only “Pak Fah Yeow” was well known by respondents, only 19%
of respondents know the pr
Even the company has the largest market shares, recently, part of its market shares
may have flown to other brands especially for Zhihua Embrocation, which is a newly
established brand promoting a refreshing image. O
is not enough to keep the position in the industry. Expand the market is the only way
out to resurgence the business.
Current Business Situation
In order to analysis the customers' impression towards Pak Fah Yeow Limited, we
have designed a questionnaire and collected 89 out of 100 questionnaires from
participant in different generation.
According to the statistics, Pak Fah Yeow has
largest market shares. It has loyal customers. They
would not shift even more competitors join the
market. Many participants confident to it mainly as
it is the oldest brand and the certificates issued by
professional institution or government such as Q
mark and certificate of manufacturing facilities
issued by TGA.
our observation, the most market consumptions are contributed from the
generation of Baby Boomer. The market size is relatively lower than the “Zihua
Embrocation”. Also, only “Pak Fah Yeow” was well known by respondents, only 19%
of respondents know the product item of “Hoe Hin Strain Relief”.
Even the company has the largest market shares, recently, part of its market shares
may have flown to other brands especially for Zhihua Embrocation, which is a newly
established brand promoting a refreshing image. Only maintaining the loyal customer
is not enough to keep the position in the industry. Expand the market is the only way
out to resurgence the business.
3
ak Fah Yeow Limited, we
have designed a questionnaire and collected 89 out of 100 questionnaires from
According to the statistics, Pak Fah Yeow has
largest market shares. It has loyal customers. They
even more competitors join the
market. Many participants confident to it mainly as
it is the oldest brand and the certificates issued by
professional institution or government such as Q
mark and certificate of manufacturing facilities
our observation, the most market consumptions are contributed from the
generation of Baby Boomer. The market size is relatively lower than the “Zihua
Embrocation”. Also, only “Pak Fah Yeow” was well known by respondents, only 19%
Even the company has the largest market shares, recently, part of its market shares
may have flown to other brands especially for Zhihua Embrocation, which is a newly
nly maintaining the loyal customer
is not enough to keep the position in the industry. Expand the market is the only way
4
Financial Analysis
Profitability
Ratio Formula 2010 2011 2012
Gross margin GrossPro�it
Sales 57.02% 45.08% 56.24%
Profit margin NetPro�it
Sales 50.99% 39.88% 50.06%
Return on total
assets
Netincome
AverageTotalAssets 11.29% 8.91% 9.90%
Return on
equity
NetIncome
AverageShareholders’Equity 15.30% 11.92% 13.48%
According to the ratio analysis,
Pak Fah Yeow International
Limited had poor performance in
2011. Gross margin and profit
margin in 2011 are obviously
worse than 2010 and 2012. It
shows that the operating
expense especially the raw
material and consumables increased sharply by $9.294M. Also, the dividend income
was lower and did not have any gain on disposal of financial assets in that year.
Therefore, there is sharp decline in profitability. The efficiency of using assets and
equity in generating revenue of the company is fair. In 2011, it had lower
percentages of return on fixed assets and equity because of high operating expense
which lower the net income. Nevertheless, the percentages raised and were similar
to 2010 in 2012. Although the ratios decreased in 2011, there was an outstanding
improvement and caused 39.19% profit growth in the next year ie.2012. Obviously,
the company changes the strategy and pulls the profitability back in a stable level.
5
Liquidity
Ratio Formula 2010 2011 2012
Current ratio Currentassets
Currentliabilities 1.16 0.96 1.18
Quick ratio Currentassets– inventory
Currentliability 1.08 0.79 0.97
Based on the ratio analysis, it provides us
information that Pak Fah Yeow International
Limited is facing the short-term obligations
problem. The healthy sign of current ratio
and quick ratio is generally 1.5 and 1
respectively. The company’s current ratio
was below 1 and its quick ratio was drop
below standard in 2011. But now, the
company starts improving their strategy in managing funds and their short-term
financial strength. It still needs to put a lot of afford to manage its capital in a more
flexible way.
Activity
Ratio Formula 2010 2011 2012
Inventory
turnover
Sales
Inventory 14.58 7.47 6.17
Inventory turnover measure of the number of times inventory is sold or used.
Pak Fah Yeow International Limited had a significant decrease in inventory turnover
in 2011 and 2012. It suggests that there may
be a problem in the marketing plan. If the
company does not turn its inventory over
rapidly, there will be too much money is being
tied up in un-saleable inventory. It is necessary
for the company to improve its marketing plan
in order to increase its efficiency of sale.
6
Solvency
Ratio Formula 2010 2011 2012
Debit ratio Totalliabilities
Totalassets 0.27 0.25 0.27
Long-term debt
to equity
Longtermdebt
Totalassets 0.080 0.078 0.111
Interest
coverage ratio
Pro�itbeforeinterest
Annualinterestexpense 53.78 44.30 69.92
The company had stable and
low debit ratio and long-term
debt to equity. Also, the
company has high interest
coverage ratio which shows
its ability to honor its debt
payments. These indicate that
the company has high
borrowing capacity which higher its financial flexibility. The company has the ability
to borrow for the new development.
Market Value
Ratio Formula 2010 2011 2012
Earnings per
share
Netincome
Numberofshares 0.212 0.178 0.248
Price earnings
ratio
Marketpricepershare
Earningpershare 11.56 15.84 12.78
Price earnings ratio indicates the value and the expectation of the security in the
future. High P/E ratio indicates that the market is more willing to pay for the earnings
of the company. It means the market has high expectation for the future of security.
For P/E ratio is between 10 and 17, it is considered as acceptable level with
moderate expectation of the security in the future. Therefore, Pak Fah Yeow
International Limited has been predicted and expected still at fair value and stick with
the trend.
7
Strategic Analysis
Strength
1. Good reputation:
Pak Fah Yeow International Limited obtained a lot of certificates. For example, it
awarded Good Manufacturing Practice certificate by Therapeutic Goods
Administration, Department of Health, Australia (1996), Hong Kong Top Ten
Brand Names Awards (1999), Q-mark Licence for White Flower Embrocation
(2000) and the certificate ISO9001:2000 (2003). These certificates are evidence
that Pak Fah Yeow International Limited can produce high quality traditional
analgesic medicine. Besides, this company established more than 85 years, all
products are manufacturing in Hong Kong. It gains a lot of trust from consumers
and builds a long-term relationship with them. It is because Pak Fah Yeow can
effectively bring relief to discomforts.
2. Steady supply of raw material
As Pak Fah Yeow Limited established for 85 years, it had built up a long term
relationship with reliable suppliers which ensure the quality of the raw material. It
helps to maintain customer loyalty. Also, the price of raw material is relatively
stable except inflation factor, which helps the company to make cost control
easier and set the product price at reasonable level.
Weaknesses
1. Risen in Production Cost
From the 2011 Annual Financial Report, the production expense especially for
raw materials and consumables (Used for the production of white oil and related
products) increased from HK$21,437,000 in 2010 to HK$30,731,000 in 2011 due
to inflation. This shows a total of HK$9,294,000 material costs were recorded,
neglecting the other operating expense such as staff costs and electricity fee.
However, the turnover showed a mere growth of HK$8,042,000 only. Despite
that this cost had been cut to around HK$750,000 in the next year, the
production cost was remained large and indeed a factor leading to the decrease
in company’s revenue or retained earnings. Thus, the money used for other new
development plans will become less flexible.
8
2. Instability of profit ratio
According to our financial analysis to Pak Fah Yeow International Ltd., the profit
margins had a great fluctuation during the period form 2010 to 2012. The profit
margin was 50.99% in 2010, then followed by a sharp drop and reached a
bottom point of just 39.88% in 2011. In 2012, the ratio bounced back to a high
level of 50.06%. Although the Company had some other business like stock and
property investments, the reduction in sales maid not have a tremendous effect
on the Company’s daily operation. Although the profit margin rose back, it still
has its uncertainty in the future. Thus, this unstable trend was actually unhealthy
for the Corporation.
Opportunity
1. The Aging Era
Referring to the Hong Kong Population Projections 2012-2041, it is foreseen that
the proportion of seniors aged 65 and over would have an exponential growth
from 13% in 2011 to 30% in 2041; compared with the decrease of proportion of
the people aged under 15 from 12% in 2011 to 9% in 2041. The former
proportion continues to rise. As out target customers are elderlies, this coming
aging era will bring about a large group of customers as well as high profit to the
Company.
2. New Market in Southeast Asia
The revenues gained from the sales of Hoe Hin Brand products and related
assets for both property and treasury investments in Southeast Asia market
have been increasing throughout these 3 years (2010 – 2012), especially
increase by $1M from 2011 to 2012. This positive sign reflects that Southeast
Asia will absolutely be the potential market for the Company to expand.
Therefore, it is a great opportunity to market Hoe Hin Brand products extensively
and increase the market share of these products in Southeast Asia.
3. Advanced technology
Nowadays, the improvement of technology improves the efficiency of production
and promotion. The Company has started using technology to carry out
measuring and filling process. The widespread of e-commerce gives the
9
opportunity to Pak Fah Peow International Limited to spread its business around
the world easier. It helps to enlarge the market instead of just mainly focusing in
Hong Kong. It provides a convenient way to have transactions with overseas
customers. Also, Smartphone becomes more prevalent among people. There
are various promotions’ methods which are cheaper and better access to
different customer groups such as Apps or Quick Response code (QR code).
Threat
1. Competitors
Pak Fah Yeow International Limited must watch closely toward substitutions,
such as AXE Brand Universal Oil and Zihua Embrocation. The former is the
main competitor in Southeast Asia and the latter is new competitor in Hong Kong
in recent years. AXE has a strong customer base in different market. Pak Fah
Yeow needs to put more effort into promotion in order to increase the market
sharing. Also, it should improve the flavor of Pak Fah Yeow since there are lots
of people explain that Zihua Embrocation is more acceptable. This new
competitor is willing to put resources in promotion activities and advertisement. It
will possibly attract some consumers to buy and try Zihua Embrocation.
2. Difficult to capture the market of teenager
According to our survey, 74% of teenagers (10-21 years old) explain that they
would not use Pak Fah Yeow even they are uncomfortable. Most of that think
that the flavor of Pak Fah Yeow is unpleasant. It is a serious threat. It is because
teenagers are potential customers in the future.
3. Additional stamp duty
Hong Kong and Singapore Government introduced additional stamp duty in
order to cool off speculative elements in commercial or industrial properties in
the past few years. Rental is one of operating income of Pak Fah Yeow
International Limited. It owes a lot of properties. The measure may affect the
amount of rental or the value of the properties in the future, and may affect the
financial performance of corporate.
10
Summary
Analyzing the current business situation, Hoe Hin White Flower Embrocation still
stands firm with the largest proportions of market share in the Chinese Medicine Oil
industry due to good reputation. To maintain its competitiveness and position, Hoe
Hin requires expanding their international market.
Furthermore, Hoe Hin Brand Products is actually situated in a Maturity Stage of the
Product Life Cycle. Not only does the sales growth decline, the Chinese Medicine Oil
market in Hong Kong also becomes saturated. Therefore, Hoe Hin should take the
advantages of its strengths and opportunities to improve its weaknesses but avoid
those threats which may worsen their situation. For the Financial situation, Hoe Hin
mainly engaged in two parts: sales of Hoe Hin products and some treasury and
property investments. Although the financial situation of Hoe Hin is not with high
profitability and liquidity, it has stable and high solvency. Part of the capital can still
be used to implement new plans and modify its products or promotion strategies.
Strategic Plan
Assumptions
1. Assume there is no financial difficulty in recent 5 years of the company
2. Assume Pak Fah Yeow Limited has good reputation in general public and
business.
3. Assume the inflation will keep in a stable rate.
4. Assume Pak Fah Yeow Limited has enough human and financial resources to
support the establishing of the new product and marketing strategies.
Distribution Strategies
Vending machine
In order to increase the efficiency of sale, Pak Fah Yeow International Limited can
use vending machine to sale the company products such as Hoe Hin White Flower
Embrocation, Hoe Hin Strain Relief and new product. As we all know, the purchasing
channel of medicine for the consumers is mainly retailer. Using Vending machine to
sell Hoe Hin products provides an advertising effect which is a fashion way to sell
medicine to attract more customers. It is also a more cheaply and efficiently way
11
because it minimizes the order process cost from the wholesalers or retailers,
storage-space charges from retailers and some of the promotion cost. As it is directly
sell to the ultimate consumer, the products can be charged at higher prices and
increased its profit. In addition, it can be placed in a variety of high-traffic locations
and provides 24 hours available for sales that makes the products more convenient
for the customers. The distribution coverage of vending machine is on a selective
base where mainly placed at busy area and piers.
Establish shops on online marketplace
Hoe Hin Pak Fah Yeow International Limited (the company) is always looking to
expand into new international markets. As the development of the Internet, many
people like shopping on the online shopping platform like ebay, taobao. If the
company establishes accounts on these online platforms, it can increase the
company exposure to new potential customers especially overseas customers who
are looking for Chinese medicine oil. It can increase the popularity of the company in
overseas which can expand its markets.
Promotion Strategies
Booths
In order to increase the reputation of Pak Fah Yeow International Limited and its
products, we decide to setup booths in downtown areas, for example, Mongkok and
Causeway Bay pedestrianisation. There are a lot of tourists and local people. We
can distribute Pak Fah Yeow (sample) to them and introduce the application of it.
This activity can promote Pak Fah Yeow to the foreigners, thus they will notice the
product and its effectiveness. It could be the first step to introduce Pak Fah Yeow
into international market.
Apps advertising
According to our financial report, the operation cost of Pak Fah Yeow International
Limited is high. We need to economize on expenditure. We find that most of people
think that they are little notice the advertisement about Pak Fah Yeow and Hoe Hin
Strain Relief on radio and newspaper. Thus, we decide to cancel the advertisement
on these promotion channels. On the other hand, we will allocate resource on online
12
advertising and apps advertising. These methods should be less costly than
traditional advertising.
Price strategies
Odd even pricing
it means pricing at odd-numbered prices to connote a bargain and pricing at even-
numbered prices to imply quality. Such as set the price of Pak Fah Yeow (10ml)
which sell at online shop and retail shop at $29.9. It make customer feel that they are
paying a lower price for the product.
Price bundling
it is marketing two or more products in single package for a special price. For
example, put Hoe Hin White Flower Embrocation and Fuzai 239 together into one
package. Also, it is useful for promote the new product. Sell the new product in a
package allows customer to try the new product with lower cost.
Product Strategy
New Product (Hoe Hin Strain Relief Patch)
According to our survey, we found that some of the products especially Hoe Hin
Strain Relief are seldom recognized by people. It is important for Pak Fah Yeow
International Ltd. to modify and introduce a new product in order to recall customers’
awareness and increase the inventory turnover of those less popular Hoe Hin brand
products. The new product will be designed in a convenient way for customers to
use and carry (Details shown in Appendix) instead of a bottle of Chinese Medicine
Oil.
13
Implementation Plan (New product strategies)
Stage Period Description Objective Budget
Ide
a g
en
era
tion
Nov
2013
-
Jan
2014
(Done)
Generate as many as ideas and ensure
that all new product idea available to the
company.
1. Hoe Hin Strain Relief Patch
Application:
relieve pain associated with and
strain of muscle
2. White Flower Embrocation (roller
design)
Application: Relieve headache
3. Pak Fah Yeow Anti Mosquito Patch
Application: mosquito repellent
4. Hoe Hin Sun Cream
Application: sunburn protection
5. White Flower Candy
Application: relieve of Motion
sickness
• Recognizing
available source
of new product
idea for
screening
N/A
Ide
a S
cre
en
ing
Jan
2014
(Done)
Screening the idea that generate in the
first stage. It eliminates the ideas that are
inconsistent to the company situation.
Having considered the available resource
and technology, we think that producing
Hoe Hin Strain Relief Patch is more
suitable. As the production of other
products required more advanced
technology and facilities which will incur
high cost, they are not suitable under the
limited liquidity.
• Expand the
market
• Improve the
efficiency of
using company’s
assets
• Increase its profit
N/A
14
Bu
sin
ess a
na
lysis
Jan
2014
(Done)
1. According to the survey, XX% people
willing to try Hoe Hin Strain Relief
Patch. Most urbanite has the problem
of pain associated with sprain and
strain of joint and muscle because of
long duration of using computer and
lifting heavy objects. Thus, these show
this product has its potential market.
2. Although there are some competitors
have already existed in the market,
Hoe Hin still has its own strength
which is its good reputation that
attracts the customers to try the new
product.
3. From the survey, it is found that some
of the Hoe Hin’s product is not well
known. As the promotion of new
product can increase the awareness of
Hoe Hin’s product, it is believed the
overall sales will increase.
4. As the new product is designed in a
new package instead of the traditional
bottle design, it gives a new fresh
image to the public to have more
favorable impression.
Indicated the
feasibility of the
idea in term of
demand, cost,
sales and
profitability
1.Expand size of
the market
2. Enhance its
competitiveness
3. Build up a new
company image N/A
De
ve
lop
men
t
Feb
2014
-
May
2014
develop a prototype To test the
feasibility and
efficacy of the new
product.
30,000
May
2014
Conduct laboratory tests To ensure users’
safety by hiring 20 200,000
15
-
Jun
2014
people to keep
using the new
product.
To test the efficacy
of the new product.
Jun
2014
installment of machine Installment 2
manufacturing at
the first year.
400,000
Jun
2014
-
July
2014
government approval To apply for the
government
approval to
registered
pharmaceutical
product.
500,000
July
2014
-
July
2017
Establish
Marketing strategies
Promote the new
product with the
most efficient and
effective way.
For Price: set it at
lower level when it
at the promotion
stage and make a
package set with
hot sell product
item.
500,000
For promotion:
setup booths in
downtown areas.
For place: Using
Vending machine to
sell Hoe Hin
products
16
Te
stin
g
Aug
2014
-
Oct
2014
1st: Release
We will produce limited Hoe Hin Strain Relief
Patch (100,000 units) and it will be available
in specific distribute points with the aim of
determining the reaction of potential
customers. Hoe Hin Strain Relief Patch will
be available in Central, Admiralty, Wai Chai
and Causeway Bay etc. There are lots of
offices and those people working in office,
who are our target customers.
Evaluate the sales 600,000
Nov
2014
-
Jun
2015
2nd : Modify
We collect feedback from target customers
Thus, we can consider introduce Hoe Hin
Strain Relief Patch in whole market or not.
Determine the
reaction of this new
product
700,000
Co
mm
erc
ializ
atio
n
From
July
2015
In this stage, we need to:
� order production materials and equipment
� start production
� build inventories
� ship the product to field distribution points
� train the sales team
� announce the new product to the trade
� promote to potential customers
To determine
whether we need to
increase the
production when
the reaction of Hoe
Hin Strain Relief
Patch is positive
17
Financial Forecasts
Pak Fah Yeow International Limited
Statement of Comprehensive Income
2012 2014 2015 2016
HK$’000 HK$’000 HK$’000 HK$’000
Turnover 128,543 134,970 136,256 137,541
Other revenue 916 916 916 916
Other net income 196 196 196 196
Changes in inventories of finished goods 2,262 2,262 2,262 2,262
Raw materials and consumables used (29,989) (30,888) (30,708) (30,828)
Staff costs (24,606) (25,590) (25344) (25393)
Depreciation expenses (2,056) (2117) (2117) (2117)
Net exchange gain (loss) 78 78 78 78
Other operating expenses (32,392) (35,135) (34,836) (34,535)
Profit from operations before profit or
Loss of investment properties 42,952 44,692 46,703 48,120
Net gain(loss) on financial assets at
fair value through profit or loss 4,198 4,198 4,198 4,198
Revaluation surplus in respect of
investment property 25,147 25,147 25,147 25,147
Profit from operations 72,297 74,037 76,048 77,465
Finance costs (1,034) (1,106) (1,086) (1,086)
Profit before taxation 71,263 72,931 74,962 76,370
Taxation (6,919) (7,074) (7,271) (7,407)
Profit for the year, attributable to
owners of the Company 64,344 65,857 67,691 68,963
2014 2015 2016 Rate of increasing of sales revenue 5% 6% 7% Rate of increasing of material used 3% 2.4% 2.8%
Staff cost 4% 3% 3.2% Depreciation 20% 3% 3% 3%
Other operation expense: Promotion cost increased 800,000 500,000 200,000 Others (Rent, electronic) 6% 6% 6%
Financial cost 7% 5% 5% Taxation 155,000 352,000 488,000
18
Review of Corporate Governance Practices
1. There are two directors, Mr. Gan Wee Sean and Mr. Gan Fock Wai, in this
company. As one of the directors is in his age of retirement, it is necessary for
the company to plan well in the form of boards as well as the handover.
Therefore, the company can maintain its stability.
2. All boards have already had orientation programs and professional
development. These ongoing actions can be kept. Those who are in
managerial positions may have the opportunity for ongoing professional
development such that they are able to precise decisions in different aspects.
3. Having considered in terms of entity’s size, complexity, risk of operations and
the needs of the board, Board has been developed in an appropriate structure.
Evaluations should be conducted periodically in order to ensure the broads
can execute their duties.
Reference
A study of corporate governance practices in leading corporates in india. (2007). Retrieved from http://www.nfcgindia.org/pdf/corporate_governance_report.pdf
Aastocks.com ltd. (2014, January 15). Retrieved from http://www.aastocks.com/en/stock/CompanyFundamental.aspx?CFType=1&symbol=00239
Anonymous. (2013, April). Inventory turnover. Retrieved from http://www.readyratios.com/reference/asset/inventory_turnover.html?sphrase_id=103113
Bloomberg markets. (2014, January 15). Retrieved from http://www.bloomberg.com/quote/239:HK
Inverstors chronicle. (2014, January 15). Retrieved from http://markets.ft.com/research/Markets/Tearsheets/Financials?s=239:HKG
Ou-Yang, L. Hong Kong, Census and Statistics Department, (2012). Hong kong population projections 2012-2041. Retrieved from website: http://www.statistics.gov.hk/pub/B1120015052012XXXXB0100.pdf
Uhrig, J. Australia, Department of Finance, (2003). Review of the corporate governance of statutory authorities and office holders. Retrieved from Canprint Communications website: http://www.finance.gov.au/sites/default/files/Uhrig-Report.pdf
19
Appendices – Samlple
Application
• Dispel wind • Remove obstruction of the meridians and collaterals • Analgesic • Simple backache • Bruises • Ease swelling • Temporarily relieve minor ache and pain associated with sprain
and strain of joint and muscle
Active Ingredients
• Camphor — 10% • Menthol — 15% • Methyl salicylate — 48%
Hoe Hin Strain Relief Patch和興活絡貼和興活絡貼和興活絡貼和興活絡貼
Vending machine
20
Questionnaire
Questionnaire on Pak Fah Yeow International Limited
問卷調問卷調問卷調問卷調查查查查
We are students from Hong Kong Community College. We would like to investigate
on the operation of Pak Fah Yeow International Limited. A questionnaire has been
prepared for you to share your opinions and thoughts with us. Please take 10 to 15
minutes to complete the questionnaire below.
我們是香港專上學院的學生。我們正希望在進行一項有關白花油國際有限公司的調查。
希望您能分享您的意見和想法。請花 10到 15分鐘完成以下問卷。
Please put a ‘����’ where appropriate. 請在請在請在請在����內內內內加加加加‘����’
1. Which brand you have used before?您曾經用過下列哪個品牌?
� Hoe Hin Pak Fah Yeow和興白花油
� Wah Sing Zihua Embrocation華星紫花油
� Axe Brand斧標
2. Which of the following would you use as the preferred brand in the future? 將來
你會以下列哪一個品牌作為首選?
� Hoe Hin Pak Fah Yeow和興白花油
� Wah Sing Zihua Embrocation華星紫花油
� Axe Brand斧標
3. What are the criteria of choosing Chinese medical oil? 以下哪幾項為你購買藥油
的準則?
� Brand’s history品牌歷史 � Production place製造地
� Wide applications功效多 � Package 包裝
� Other certificates其他證書 � Q-mark license Q保證
�Price價錢 � others 其他(please specific請註明):__________
21
4. Which one is your favourite brand?您最喜愛用哪個品牌?
� Hoe Hin Pak Fah Yeow和興白花油
� Wah Sing Zihua Embrocation華星紫花油
� Axe Brand斧標
5. Do you like using Hoe Hin Pak Fah Yeow?您喜愛用和興白花油嗎?
� Yes喜愛 (Skip question7略過第 7題) � No不喜愛(Skip question6略過第 6題)
6. Why do you like using Hoe Hin Pak Fah Yeow? 您喜愛使用和興白花油的原因
� Long brand’s history品牌歷史 � Hong Kong Production製造地
� Well applications功效佳 � Nice package 包裝好
� Good flavor 氣味好 � Low or acceptable price平或價錢合理
� With Q-mark 有 Q保證 � With other certificate有其他證書
� others 其他(please specific請註明):_____________
7. Why do not you like using Hoe Hin Pak Fah Yeow? 您不喜愛使用和興白花油的
原因
� Strong smell 氣味太濃 � Expensive 貴
� Poor package 包裝欠佳 � Poor applications功效欠佳
� Difficult to use難以控制倒出的份量 � inconvenient to buy 可以購買的地方不多
� others 其他(please specific請註明):_____________
8. Do you know the following product of Hoe Hin?您知道和興有什麼產品?
� Hoe Hin White Flower Embrocation和興白花油
� Fuzai 239福仔 239
� Hoe Hin Strain Relief和興活絡油
� White Flower Ointment和興白花膏
22
9. Where do you purchase Chinese medical oil? 哪一項是您購買藥油的主要途徑?
� Pharmacy藥房 � Personal Care Products store個人護理產品
�Convenience Store便利店 � Health care products store保健產品商店
� Online Shop網上商店
10. Which promotion channels do you like the most? 您最喜歡哪一個推廣渠道?
� TV Commercial 電視廣告 � Newspaper報紙 � Magazine雜誌
� Radio電台 � Billboards廣告牌 � Painted vehicle彩繪車
� Online Promotion 網上推廣 � Public Relations 公關活動
� others 其他(please specific請註明):_____________
11. Which of the following products do you like to try? 若果現在和興白花油推出下列
產品,您會想嘗試哪一項?
� Hoe Hin Strain Relief Patch和興活絡貼 (Application: relieve pain associated with
and strain of muscle用途: 舒緩肌肉酸痛)
� Pak Fah Yeow Anti Mosquito Patch白花油驅蚊貼 (Application: mosquito repellent
用途: 驅蚊)
� Hoe Hin Sun Cream和興太陽油 (Application: sunburn protection用途:防曬)
� White Flower Candy白花糖 (Application: relieve of Motion sickness用途: 舒緩暈
動病症)
� others 其他(please specific請註明):_____________
12. What is your impression toward Pak Fah Yeow? 您對和興白花油有什麼印象?
________________________________________________________________
Personal information 個人資料個人資料個人資料個人資料
Age年齡: � below 10 �10-20 �21-30
�31-40 �41-50 �51-60 � above 60
Gender 性別: �Male男 �Female女
Summary of questionnaire
Wah
Sing
Zihua
Embroca
tion
9%
Axe
Brand
24%
Q1. Which brand you have
used before?
78
28
Brand’s
history
Production
place applications
Q3. What are the criteria of choosing Chinese medical
oil?
Wah
Sing
Zihua
Embroca
tion
4%
Axe
Brand
19%
Q4. Which one is your
favourite brand?
Hoe Hin
Pak Fah
Yeow
67%
Q1. Which brand you have
Wah
Sing
Zihua
Embroc
ation
6%
Axe
Brand
19%
Q2. Which of the following
would you use as the
preferred brand in the
future?
4657
40
69
Wide
applications
Package Certificates Q-mark
license
Q3. What are the criteria of choosing Chinese medical
Hoe Hin
Pak Fah
Yeow
77%
Q4. Which one is your
favourite brand?
No
45%
Q5. Do you like using Hoe
Hin Pak Fah Yeow?
23
Hoe Hin
Pak Fah
Yeow
75%
Q2. Which of the following
would you use as the
preferred brand in the
34
mark
license
Price
Q3. What are the criteria of choosing Chinese medical
Yes
55%
Q5. Do you like using Hoe
Hin Pak Fah Yeow?
49
19
Brand’s
history
Production
place applications
Q6. Why do you like using Hoe Hin Pak Fah Yeow?
42
20
Strong smell Expensive
Q7. Why do not you like using Hoe Hin Pak Fah Yeow?
99
Hoe Hin White Flower
Embrocation
Q8. Do you know the following product of Hoe Hin?
22
31
46
52
Wide
applications
Package Certificates Q-mark
license
Q6. Why do you like using Hoe Hin Pak Fah Yeow?
19
12
39
Poor package Poor
applications
Difficult to use
Q7. Why do not you like using Hoe Hin Pak Fah Yeow?
67
32
Fuzai 239 Hoe Hin Strain Relief White Flower Ointment
Q8. Do you know the following product of Hoe Hin?
24
27
mark
license
Price
Q6. Why do you like using Hoe Hin Pak Fah Yeow?
27
Difficult to use inconvenient to
buy
Q7. Why do not you like using Hoe Hin Pak Fah Yeow?
43
White Flower Ointment
Q8. Do you know the following product of Hoe Hin?
Personal Care
Products store
11%
Convenience Store
22%
Health
care
products
store
8%
Q9. Where do you purchase Chinese medical oil?
Painted vehicle
3%
Online Promotion
22%
10. Which promotion channels do you like the most?
Pak Fah Yeow Anti
Mosquito Patch
12%
Hoe Hin Sun Cream
7%
White Flower
Candy
19%
Q11. Which of the following products do you like to
try?
Pharmacy
59%
Online
Shop
0%
Q9. Where do you purchase Chinese medical oil?
TV Commercial
29%
Newspaper
Magazine
7%Radio
2%
Billboards
14%
Painted vehicle
Online Promotion
22%
Public Relations
19%
10. Which promotion channels do you like the most?
Hoe Hin Strain
Relief Patch
62%
White Flower
Q11. Which of the following products do you like to
25
Q9. Where do you purchase Chinese medical oil?
Newspaper
4%
Magazine
10. Which promotion channels do you like the most?
Q11. Which of the following products do you like to