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Brand Road Series (3) Laoganma's brand building road: pay attention to product quality and maintain brand image

Huatai Securities 2116-11-23 19:41

1 Hot comment on Laoganma's revenue

. At present, "Laoganma" series products occupy half of the similar products in China, selling 2 million bottles of Chili sauce every day. In 2114, the sales revenue reached 4 billion yuan and the profit reached 911 million yuan. The company has broad development prospects. In the past two decades, the sauce market has grown at an average annual rate of 21%, with great potential. Laoganma insists on honest management, and has established a good reputation by virtue of its unique formula and excellent product strength, becoming a leading brand in the sauce market.

targeted at the low-end market, the target group of Laoganma products with high user consumption viscosity is mainly concentrated in migrant workers, college students and white-collar workers who have worked for a short time. Generally speaking, this kind of consumer group does not have strong economic strength, and the pace of life is relatively compact, the dining structure is simple, and the overall demand for high-end catering is not high, so delicious and convenient sauce has become the first choice for auxiliary dining. This laid the foundation for Laoganma to open the national Chili sauce market and realize the nationwide expansion.

The structural advantages of products are difficult to replicate, and the moat of brands is increasingly prominent

First of all, "Laoganma" won the "taste war" in the sauce market with rich and unique tastes; On the other hand, "Laoganma" gives full play to the scale effect and brand advantage to reduce costs, and through the strong attack of cost advantage, the price is close to the people and the consumption viscosity of consumers is improved. In addition, in terms of packaging, Laoganma's product packaging and trademark brand, which have remained unchanged for 21 years, have formed enterprise characteristics, become the brand symbol of "Chili sauce" in consumers' hearts, and strengthen consumers' brand identity with Laoganma.

The channel effect is obvious, and the brand moat has been built.

Laoganma has established sales channels and catering channels extending in all directions. In terms of sales channels, "Laoganma" first established a large regional distributor, then established a secondary network all over the region through the large regional distributor, and finally formed a sales channel all over the country to form a moat of sales network, and actively used this advantage to output stable and high-quality products, further strengthening its brand image; In terms of catering channels, "Laoganma" series products are also favored by terminal catering enterprises with high-quality and stable Chili sauce, which promotes the spread of corporate brands.

actively explore overseas markets and promote brand internationalization

In addition, "Laoganma" actively explored overseas markets and gradually formed the guiding ideology of business strategy of "relying on the domestic market and actively expanding the international market". The company first positioned itself in overseas Chinese, focused on emotional cards, and gained stable consumer groups in overseas markets; Secondly, "Laoganma" changed its business strategy and set up authorized agents directly in overseas markets, which formed a win-win situation for authorized agents of "Laoganma" and promoted the widespread spread of corporate brand influence in overseas markets.

Enlightenment of "Laoganma" brand building

Market positioning is the premise of brand expansion, excellent product quality is the foundation of brand communication, channels are the boosters of brand communication, and product internationalization and technological innovation are the important components of brand influence. In addition, the entrepreneur's individual spirit also plays an important role in promoting corporate brand communication.