Tiger Balm: reinvigorating A lifestyle Case study Companies know... Tiger Balm: reinvigorating A lifestyle Case study Companies know that there are huge financial benefits in the business of effective pain relief. Analgesics, a category of pain medication, continues to evolve as an ageing population and changing lifestyles have increased the likelihood of aches. According to Allied Market Research, retail sales of topical analgesics will reach an estimated value of $26.4 billion by 2022. Consumers are also increasingly turning to herbal remedies, which are believed to offer a more natural approach to healing. Figures from Global Industry Analysts suggest that the global herbal products market will be worth $107 billion in 2017. The growth is related to an increasing awareness of general health and wellbeing. The century-old topical ointment Tiger Balm is a traditional brand that millions rely on for the quick relief of aches and pains. Tiger Balm has evolved from its humble origins to become a household name in 100 countries around the world. Packaged in hexagonal jars that bear the label of a leaping tiger in their logos, the ointment is offered primarily within the Chinese market. Tiger Balm's founder, Aw Chu Kin, a Chinese herbalist in Burma, passed on the product's secret formula to his sons and made them promise to donate some of the sales proceeds of the ointment to charity. Due to the success of Tiger Balm, the company Haw Par was created. It soon grew to become a conglomerate, with interests in several industries, and in 1926 the headquarters were moved to Singapore. As business flourished, so did the company's philanthropy. Tiger Balm has contributed much to local communities, especially for education and welfare concerns. Tiger Balm's heritage is a great brand story. However, although Tiger Balm had strong brand awareness among consumers, it had become associated with older adults. Tiger Balm needed to reinvigorate itself to appeal to younger consumers. In the 1990s, it started to leverage its brand equity and expand its product range to suit changing consumer needs. It also implemented a lifestyle approach in its marketing. Tiger Balm began to package the balm in various forms and sizes to meet a more international market and to appeal to those who were involved in sports. Repositioning the brand as a personal care product rather than an ancient home remedy made the brand more appealing to a younger generation. Tiger Balm products are now classified into three lines: Tiger Balm with You at Home, Tiger Balm with You at Work, and Tiger Balm with You at Play. Although Tiger Balm has seen sales grow in many parts of the world, it is inevitable that the brand will face challenges in the various markets that it competes in. To improve its market share, Tiger Balm has to adopt innovative marketing ideas and stay relevant. Tiger Balm now uses online advertising platforms, such as YouTube and Google. On its website (www.mytigerbalm .com), consumers can ask questions, obtain assistance in analyzing symptoms, and buy recommended products. By providing a total brand experience, the brand is able to stay relevant and connected with consumers. The brand building has taken generations to get right. Tiger Balm sells over 50 million units per year and boasts 60 percent active ingredients, not the predominantly wax or petroleum of other brands. Tiger Balm's brand extension strategy has seen the development of Classic, Balance, Active, and Junior. These extensions take time to launch and the brand will often test markets in a discrete territory, such as Singapore, to iron out strategy and market issues before rolling it out. In line with its brand philosophy, Tiger Balm is still very much involved in good deeds, and it supports and sponsors many charities. Such commitment to philanthropy is Tiger Balm's way of creating an emotional connection with its customers and the community at large and setting the brand apart from the competition. Despite substantial changes in the business and marketing landscape, Tiger Balm has remained focused on delivering its brand promise and the core value of its products while seeking and engaging alternative marketing strategies to stay relevant. The journey will continue for Tiger Balm as it innovates alongside people's changing lifestylesat home, at work, and at play. The brand has successfully extended from pain-relief to broader well-being.48 10-44. Propose an integrated lifestyle-marketing program for Tiger Balm products based on a tie-in with a chosen sporting activity. Include both traditional and nontraditional promotional tools. 10-45. Describe a possible guerrilla marketing campaign for Tiger Balm. 10-46. Identify any opportunities for product placements for Tiger Balm products. 10-47. Is there a potential overlap between the brand community for Tiger Balm and the cricket community? Describe the ways that Tiger Balm's marketing department could build and enhance the relationship between the two communities