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3.2.1 Huge demand 12
3.2.2 Strong bargaining power 13
3.3 Analysis of substitutes 13
3.4 Analysis of potential entrants 14
3.5 Analysis of Suppliers 15
Chapter Four Research Design 16
4. 1 Hypotheses 16
4.2 Structure of the questionnaire 16
4.3 The process of conducting the questionnaire 16
Chapter Five Data Analysis and Results 18
5.1 Consumption structure of milk 18
5.2 Factors affecting purchasing decision 18
5.2.1 Quality and safety 19
5.2.2 Formula and function 19
5.2.3 Taste and flavor 20
5.2.4 Price 22
5.2.5 Package 22
5.3 Channels to get information 23
Chapter Six Conclusion and Suggestions 24
6.1 Conclusion 24
6.2 Suggestions 25
6.2.1 Product differentiation strategies 25
6.2.2 Construction of milk source bases 27
6.2.3 Brand image establishment 27
References 29
Appendix 31
On the Competitive Strategies of Yili QQ Star in Kid’s Milk Market
Chapter One Introduction
1.1 Research Background
With the development of economy in our country and continual rising of people’s living standard, milk has now been playing an increasingly important role in our diet and people’s demand for milk has keeping on growing. People now pay much more attention to health than before and they not only just care about the basic nutrition but also the added functions of milk. This is especially true when it comes to kid’s milk. Since there are only 1 or 2 kids in most Chinese families, parents care so much about the health growth of their kids. Parents buy milk for their kids to help their intellectual and physical development.
In 2008, The Mengniu Dairy Group firstly recognized that although kids in our country had basically formed the habit of drinking milk, more than 70 percent of them were drinking ordinary pure milk and high-end milk for adult. These kinds of milk can only provide basic nutrition and have little effect on intellectual development, bone growth and immunity strengthening, which are important in kid’s growth and highly valued by parents. Driven by the great market demand, Mengniu launched a new product called Future Star, filling the gap in the market. Before long, Yili launched QQ Star. This became an emerging market in domestic dairy industry. In the last few years, the consumption of kid’s milk has been keeping on increasing at a high speed. Owning to the first-mover advantage, Mengniu and Yili became the two leaders in this market and got huge benefits.
However, other domestic dairy enterprises like Bright, Wangzai, Sanyuan, Shengmu and Weigang have also launched their own sub-brand for kid. In addition, famous foreign brands like Anchor and Milkana have brought their kid’s milk products into Chinese market, attempting to share the big market. The market is gonging to maturity now and the products of different brands lack of differentiation. These all makes competition in this market get more and more fierce. Under this circumstances, it’s much harder for Yili QQ Star to stay ahead in this market.
1.2 Significance and purpose
1.2.1 Theoretical significance
Porter’s competitive strategies had been widely applied in many different industry. Five forces model had been widely used to analyze the overall environment and competition in various markets. Many company formula their strategies according to the three generic strategies. However, kid’s milk market is a comparatively new market and there is currently no study about competitive strategies in this special market. It is meaningful to apply this theory in this new market and complete Porter’s competitive strategies by putting them into practice.