Table of Contents - HKIAAT · and external factors that affect the company by using SWOT analysis....

1

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


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



of respondents know the product item of “Hoe Hin Strain Relief”.



established brand promoting a refreshing image. Only maintaining the loyal customer


out to resurgence the business.

3

ak Fah Yeow Limited, we


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





nly maintaining the loyal customer


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


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


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


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


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?



� 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?



� 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


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


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)


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


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


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


19

12

39

Poor package Poor

applications

Difficult to use


67

32

Fuzai 239 Hoe Hin Strain Relief White Flower Ointment


24

27

mark

license

Price


27

Difficult to use inconvenient to

buy


43

White Flower Ointment


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%


TV Commercial

29%

Newspaper

Magazine

7%Radio

2%

Billboards

14%

Painted vehicle

Online Promotion

22%

Public Relations

19%


Hoe Hin Strain

Relief Patch

62%

White Flower


25


Newspaper

4%

Magazine



Table of Contents - HKIAAT · and external factors that affect the company by using SWOT analysis....

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