BMA 5009 FM2(Group4

)

Bawang in Singapore
For Professor Leong Siew Meng

NI CHUN (HT095582N) NIRMALYA MAITRA (HT095519M) PAYAL KESWANI (HT095520Y) PETER LEE SHUN TA (HT095467E) PETTAS KYRIAKOS (HT095568A) RAHUL MAHESH GUPTA (HT095522X) ROLAND CRISPIAN LIM (HT095524W) SANAT VALLIKAPPEN (HT095525H)

 

Table of Contents

Introduction….......................................................................................................................3

Bawang Milestones…...........................................................................................................4

Bawang in China.................................................................................................................. 5

Hair Loss and its Psychological Effects.............................................................................8

The Singapore Hair Care Market……………………………………………………….10

Porter’s5-Forces Analysis of Bawang……………………………………………………13

SWOT Analysis of Bawang in Singapore………………………………………………. 14

Segmentation, Targeting and Positioning……………………………………………….18

Consumer Survey…………………………………………………………………………20

Financial Analysis…………………………………………………………………………27

Recommendations………………………………………………………………………... 31

Controls……………………………………………………………………………………39

 
 

 

Introduction
Bawang International (Group) Holding Limited

(Bawang), headquartered in Guangzhou, China, is a Hong Kong Stock Exchange-listed manufacturer and distributor of Chinese herbal shampoo and hair care products as well as other home and personal care products. It has come to be recognized as a leading shampoo brand in the People’s Republic of China (PRC). In September 2008, Bawang1 entered into an exclusive distribution agreement with Hannah Holdings Pte Ltd, an independent third party distributor of health and beauty products in Singapore since 2004. This agreement to market and distribute Bawang’s flagship brand, known by the same name, is for three years, extendable by another three.

Hannah is supported by a vast distribution network of about one thousand distribution points island-wide and in 2005, Trim Slim, one of the products it distributes, won the “Best selling slimming tummy tablets” at Guardian’s prestigious Health & Beauty Awards. In 2006, Mygenlife Ultimate Detox, another product Hannah distributed, won the “Best selling detox product” at the same event. On the face of it, Hannah appears capable of getting Bawang, the traditional Chinese brand, into the hearts and minds of consumers in Singapore.

However, based on the group’s interview with Mr. David Tan, the CEO of Hannah (Appendix A), we learnt that Bawang is far from replicating its PRC success in Singapore.

                                                            
In this report, the name Bawang is used interchangeably for the company as well as for a brand of shampoos that the company manufactures and distributes.
 
 
1

 

Its share at the end of 2008 was around 2.6 percent (on a pro rata basis)2 of the entire Singapore shampoo market, despite shelf presence across almost all the major retail stores. Hannah also revealed that Bawang is yet to take up any marketing initiative specific to Singapore. The parent company Bawang relies entirely on Hannah to sell its namesake brand products in Singapore. We intend to discuss the specifics of the Singapore hair care market and how Bawang can go about creating an effective marketing strategy that conveys the value proposition that its products offer.

Bawang Milestones
 1928 – Chairman Chen Qiyuan’s great grandfather, a 16 generation member of a family
th

with a long history of research into Chinese traditional herbal products, established a small plant in Guangdong province in southeastern China to produce herbal hair care products
 May 1989 – Bawang International (Group) Holding Limited was founded by Chen

Qiyuan, and it launched its flagship product Bawang.
 2002 - Bawang Guangzhou, as the Chinese operating company is called, started Bawang

Industry City, a modern production site in Guangzhou, of over 10,000 square metres.
 2005 - Appointed well-known Hong Kong action movie star Jackie Chan to be its brand

ambassador, helping the Bawang brand achieve a premium position as a herbal shampoo brand.
 After 2005 - Bawang set up an extensive distribution and retail network comprising 567

distributors and 46 retailers, covering 24 provinces and four municipalities in the PRC as well as Hong Kong and Macau.
                                                            
2

Total shampoo market size in 2008 was SGD 45.9 million

 
 

 

 September 2008 – Entered Singapore through a distribution agreement with

Hannah Holdings Pte Ltd.
 November 2008 - The construction of a new production base near Guangzhou’s new

Baiyun airport was commenced. It will have an area of over 200,000 square metres and will strengthen the R&D and production capabilities of Bawang.
 May 2009 - Got Chinese singing sensation Faye Wong to endorse a new brand, Royal

Wind, in China.
 July 2009 - IPO on the Hong Kong Stock Exchange raised HK$ 1.67 billion (US$ 213.6

million). Refer to Exhibit A for the Corporate Structure before the IPO.

Bawang in China
Products: Bawang sells its Chinese herbal shampoo and hair care products under the Bawang (hair-loss shampoo mainly targeted at males), and Royal Wind brands (female anti-dandruff shampoo), and its non-herbal shampoo under the Litao brand. It also sells skin care products under the trade name Smerry. In China’s overall hair care segment, Bawang increased its sector share from well below 1% in 2004 to 5% in 2008, overtaking La Fang International Group as the fourth largest hair care player in the country. This is thanks to its above-average growth in shampoo sales, from less than RMB (renminbi) 50 million in 2005 to RMB 1 billion in 2008. However, it still lags P&G, C-Bons Group and Unilever, all three of which have more diversified product lines than Bawang. In the herbal shampoo market, Bawang is clearly the leader in China. Its market share in this category in the PRC in terms of retail sales in 2006, 2007 and the first half of 2008 were approximately 24.3%, 43.5% and 46.3%, respectively, far ahead of the No. 2 player. Although the company markets its products under four different brands, 94% of its revenues
 
 

most consumers possess very limited knowledge of the composition and benefits of chemical ingredients put in most non-TCM shampoo products. Bawang has strong proprietary R&D capabilities to develop products and ingredients suited for different types of hair fall.4% increase from the 181. incorrect methods of hair wash                                                              Bawang has listed a number of herbal ingredients commonly found in its shampoo products with explanations of each of the herbs as well as the medical qualities. Prior to Bawang’s entry into the hair-loss shampoo market in 1989. androgenic hormone baldness (hair fall due to excess secretion of androgenic hormone on the scalp).3 The Chinese perceive natural herbal ingredients as a healthy alternative to chemical formulae.  come from its flagship Bawang brand products. Bawang posted a net profit of 281. The herbs are: 1) Cacumen Platycladi 2) fleece-flower root 3) Drynaria 4) Ginseng 5) Eclipta 6) Black Sesame Seeds 7) Ganoderma lucidum 8) Angelica 9) Ginger 10) Gleditsia 11) Tea Seed 12) Chinese Arborvitae Leaf http://smerry.cn     3 .27 million) in 2008. a 55. pathological baldness (hair fall due to an imbalance of microelements on the scalp) and any other types of hair fall (hair fall due to work stress.com. In contrast.8 million yuan (USD 41. In 2008. environmental pollution.3 million yuan (USD 26. black sesame seed is widely known to be an effective herb in enriching the blackness of the hair when consumed as a supplement in food and medicine. For instance. there was an absence of any leading brand in such a niche area of HPC (household and personal care) products.55 million) reported in 2007. They are familiar with such ingredients and aware of their medicinal qualities. Product differentiation: Bawang differentiates its products using the TCM (Traditional Chinese Medicine) formula with natural herbal ingredients in all of its hair care products as compared to primarily Western FMCG brands such as Procter & Gamble and Unilever which use chemical formula. In addition to the use of herbal ingredients. For instance. the Bawang anti-hair fall shampoo is effective for the following cases of hair fall: seborrheic alopecia (hair fall due to excess secretion of sebum on the scalp).

to endorse its herbal products. (i) (ii) Television commercials and sponsorship of television programs Advertising in newspapers. primarily consisting of male. cooperating with universities and Chinese government authorities                                                              4 Information on hair fall cases is taken and translated from Bawang’s Chinese website     . magazines. the internet.4 Bawang emphasizes on its TCM roots and high product quality to justify its middle-high pricing strategy in China. middle-income consumers who are interested in its flagship anti-hair loss products. Marketing efforts: Bawang’s marketing strategy has involved high-profile celebrity endorsements to convey the quality of its products to the target market. (iii) (iv) (v) (vi) banners and kiosks. Bawang got one of China's most famous middle-aged men. Strategically selecting suitable celebrities as brand ambassadors Organizing regular and frequent in-store marketing activities and roadshows Attending Chinese herbal-related events to market its products Investing in R&D facilities. international Kung-Fu action star Jackie Chan. The combination of TCM herbal ingredient formula and Chinese Kung Fu proved to be a winning formula and most people identified Bawang as a trustworthy Chinese brand with high-quality products. These combined features are crucial in differentiating Bawang from both domestic and foreign brands in China. billboards.  and perming). Bawang also roped in 40-year old singing sensation Faye Wong. in 2009 as brand ambassador for its Royal Wind brand and its recently launched skin care products. beginning 2005. public transportation. In a coup of sorts. Bawang has also successfully implemented integrated marketing techniques to reach the Chinese consumer.

8 percent of the total population) in Singapore suffer from hair loss. In fact. 70 percent of the 1536 men surveyed considered hair to be an important feature of image and 62 percent agreed that hair loss could affect self-esteem.000 people (9. illness. birth control pill usage. Hair loss causes both men and women to look older. The NEWater project was commissioned in 1998 as a joint venture initiative     . hair loss signals the end of youth and sex appeal. The same goes for women. a 2004 survey. a 1992 study in the Journal of the American Academy of Dermatology that compared the psychological impact of hair loss on men and women found that women were less able to come to terms with hair loss. hormonal changes. Hair Loss in Singapore An estimated 469. heredity/genetics.sewage water treated with chemicals . Hereditary hair loss makes up about 63 percent of local hair loss cases. of which half are women. For many. commissioned by Pfizer Consumer Healthcare.is also instrumental. found that 30 percent of Singaporeans who lose their hair are psychologically affected by it. In a study conducted in 2005 to identify the impact of hair loss on the self-esteem of men aged 18 to 45 in five European countries. pregnancy. it is widely believed though not empirically proven that NEWater . In addition. as hair loss is scientifically referred to as. The study also revealed that men who had more profound hair loss were more dissatisfied with their appearance and were more concerned with their older look than those with minimal hair loss. While genes explain a large part of the hair loss problem in Singapore. can be caused by aging. stress. and chemotherapy.  Hair Loss and its Psychological Effects Alopecia. Hair loss often affects a person's self-esteem and its discovery can be a stressful experience for both sexes.

Well. and whether these harm our hair follicles and cause thinning of hair. since 2002.” The blogger goes on to say that he believes that since it was only some years ago that NEWater was introduced into Singapore’s reservoirs. there is no proof of this premise unless the relevant authorities shed some light on what chemicals have been added to Newater. In fact. In a survey conducted by iAremyhair from 2007 to 2008 (Exhibit B). the sales of hair loss treatment products are forecasted to grow at 16 percent within the next five years due to Singapore’s aging population (Exhibit C).     . Nonetheless. 36 percent said they would trade items like mobile phones and 16 percent were willing to trade an expensive car! It is therefore not surprising that the hair loss treatment category saw the fastest current value growth (at 6 percent) in Singapore’s medicated skin care business in 2008. which expresses concerns about NEWater: “I have heard quite a number of people who spoke to me on their beliefs that NEWater is contributing to the increasing hair loss situation (sic) in Singaporeans. 71 percent of the 178 Singaporeans surveyed believed they were suffering from hair loss. Moreover.  between the Public Utilities Board (PUB) and the Ministry of Environment and Water Resources (MEWR) and was initially designed to meet Singapore’s non-potable water needs. The following are excerpts from a blog posted on the website of Singapore Hair Loss Support Group. he has reason to believe that it is indeed NEWater that’s adding to the Singaporean’s hair loss woes. Yet. However. 69 percent of the respondents said that they were willing to trade a personal possession for more hair. When asked what they would be willing to trade. and it was around that same time that more and more Singaporeans started balding. 62 percent of the survey pool felt that hair loss would have a negative impact on their social lives and careers. NEWater is being blended with fresh water from Singapore’s reservoirs for drinking purposes. 39 percent of the respondents felt that hair loss could not be cured while 45 percent were unsure whether it could be cured.

Instead. As consumers have become increasingly affluent. Market Trends: Consumers are becoming more image-conscious and are no longer satisfied with the usual shampoo and conditioning routine. they look for hair masks and treatments which provided an extra moisturizing effect compared with standard conditioners.  The Singapore Hair Care Market The shampoo market in Singapore has been growing at almost a constant rate. but demand products with additional benefits or improved performance. Hair care products saw slower current value growth in 2008 than in 2007. larger budgets from international manufacturers also meant that they were able to spend more on marketing campaigns for their products to raise awareness amongst consumers (refer to Exhibit D for market shares). as hair care categories such as shampoo already had full penetration.9 million litres of Shampoo purchased every year. they are no longer satisfied with cosmetics and toiletries providing basic features. Further. Following are the key notes from the current shampoo market: Hair care products experienced 5 percent current value growth in the last year to reach sales of SGD 135 million in 2008 Consumers are increasingly keen to use special treatments on their hair Conditioners saw the fastest current value growth of 8 percent in 2008 Unit prices of hair care products increase in 2008 due to improved products L'Oréal (S) Pte Ltd led hair care products category with a 22 percent value share in 2008 The hair care market is expected to grow by a CAGR of 2 percent in constant value terms over the coming year International manufacturers dominated hair care in 2008. The poor sales performance of two    . with about 1. due to their wide product ranges and innovative product launches.

9 24 12. natural soils without the use of toxic pesticides.7 24.  in-one (shampoo and conditioner) products also stifled the overall growth of hair care in 2008.9 1.7 115. Two-in-one products saw the fastest decline in current value terms in 2008.6 2005 39.2 26.3 18.3 2007 43.6 134.1 7. Many consumers switched up to premium brands that promised greater benefits.7 25.8 20.7 28.5 21.9 1. Unit prices of hair care products increased in 2008.4 4. trade associations.8 2006 41. Besides.9 4 19 8. Conditioners saw the fastest volume and current value growth in 2008.9 Source: Official statistics.6 33 128. many consumers also looked for more expensive hair treatment products.8 2008 45. Euromonitor International estimates     . Sales of Hair Care Products by Subsector: Value 2003-2008 S$ million Shampoo 2-in-1 products Conditioners Styling agents Colourants Salon hair care Hair care 2003 36. company research.1 11 12. due to the increasing number of image-conscious consumers who switched up to more expensive hair masks and treatments to provide extra moisture for their hair.8 12. Value growth in 2008 came mostly from consumers switching up to more expensive conditioners.5 3. trade interviews. It also carries hair treatments which repair damaged hair.2 31 122.8 11. Estée Lauder Cosmetics Pte Ltd launched Origins Organics in April. This range includes hair care products which use only certified organic ingredients grown in rich. Active product launches such as Liese Hair Cocktail by Kao (S) Pte Ltd and Pantene Pro-V 3 Minute Miracle Treatment by Procter & Gamble (S) Pte Ltd further boosted the growth of conditioners in 2008.6 11. as consumers were increasingly willing to pay more.4 3. trade press.9 103.4 13.7 108. L'Oréal (S) Pte Ltd also launched Elsève Damage Care.8 13 13. which includes shampoo and conditioners.9 34.2 2004 37. as there were increasing numbers of consumers who switched from using two-in-one products to using a separate shampoo and conditioner.6 13.

two-in-one products are expected to continue to see a decline. moving back to mass hair care products.     . as hair care products have already achieved high penetration. Nevertheless. but purchases have to be made online or through small traders. who offer such products at cheaper rates.  Market Prospects: Consumers have become increasingly beauty-conscious and hair treatments and masks will become more popular. growing image-consciousness amongst consumers will see them more willing to choose hair treatment products. making them more cost-conscious. Also. Buying cheaper products and buying from channels that offer more price discounts will likely erode the unit price. there are hardly any products available in the Singapore market. However. who till 2008 had been switching to premium products and salon hair care. The significant other herbal shampoo being sold in Singapore is Clairol Herbal Essences by Procter and Gamble. 2010 could offer a few rays of sunshine for the hair care industry. growth in categories such as shampoo will be limited. Manufacturers will be looking to introduce more such innovative products. But as green shoots start to emerge. but it only addresses issues of hair smoothening and shining. They will more likely buy premium products from beauty specialist retailers. The recent economic slowdown has no doubt punched a hole in consumer wallets. as they indeed have been. Herbal Shampoo: In spite of a growing demand for natural hair care products. There is also the likelihood of consumers. Traditional Chinese herbal products have been growing in popularity in the island nation. That may suppress the growth of the hair care market.

but has the same effectiveness. (iv) fragrance. Bawang should increase its brand loyalty among consumers. Chinese arborvitae and euphorbia hirta. Besides. Bawang should always price aggressively. In order to reduce the bargaining power of suppliers. Bargaining power of suppliers – Bawang’s raw materials primarily consist of (i) Chinese herbs such as polygonum. ginseng. where new products with improved features are introduced on a regular basis. To mitigate this effect. It can do so by promising quality and over-delivering. If the new product comes with a lower price tag. It should also think of innovating and improvising and try keep production costs to the minimum in order to price effectively.  Porter’s 5-Forces Analysis of Bawang Threat of Substitution – In this extra-competitive world. buyers have good bargaining power as the market is flooded with an unimaginable number of varieties. To mitigate this risk. the danger of substitution is exacerbated. Bargaining power of buyers – In the shampoo industry. Bawang should increase the number of suppliers for each     . Bawang faces the threat of substitution. (ii) surfactant. Chinese honeylocust. It should also focus on addressing to consumer complaints swiftly and efficiently. the cost of switching brands is not high. The company currently has two suppliers for each of these raw materials. (iii) coconut oil.

pricing strategy and distribution channels. relationship management. Competitive Rivalry – There are many players in the industry and many of them provide attractive products and deals. Customer loyalty. SWOT Analysis of Bawang in Singapore     . product differentiation. Bawang should focus on building supplier relationships so that it becomes awkward for suppliers to demand undue prices. Threat of new entry – Bawang faces a threat from new entrants to the herbal shampoo market. capacity and access to distribution channels are other entry barriers that Bawang can work on. Also. It must erect strong entry barriers by working on patents and proprietary knowledge and technology. market share.  ingredient. there are fair chances of them switching to competitors’ products. To circumvent this. If the buyers don’t get a good deal from Bawang. Bawang should focus on product differentiation.

accumulated experience and knowledge of the Chinese herbal shampoo and hair care products market in the PRC. Singapore distributor Hannah . In Singapore. gives it a proven track record of developing quality Chinese herbal shampoo and hair care products. Its proprietary formulae. and has rigorous inspection policies to check on quality of raw materials and packaging materials. We believe its focus on research and development has helped make Bawang a leading brand in Chinese herbal shampoo in the PRC. that day may not be far when Bawang is recognized as the No. It received ISO 9001 quality management system certification in 2007. Between 2006 and 2008.  Strengths Strong product research and development centre – In China. Quality products – Bawang emphasizes on the quality of its products and adopts stringent quality control measures in the selection of raw materials. packaging materials and throughout its production process. Bawang can be     . and believes that setting the benchmark high can assure the quality of products. Bawang maintains a competitive edge by striving to continuously diversify its product offerings and upgrade existing products. it has developed and launched 36 new products under the Bawang umbrella. It adapts to the ever-changing market trends by offering Chinese herbal HPC (hair and personal care) products that match consumer preferences. 1 Chinese herbal brand in Singapore. technology.Hannah has a strong reputation in Singapore. thus enhancing its reputation. It is supported by a vast network of 1000 distribution points in Singapore and has established a reputation for launching winning products in the marketplace. This research is coupled with the right marketing initiatives. It has stringent criteria based on which it selects suppliers.

at the other. While at one end. There are no significant players providing cost-effective herbal hair care solutions. CK). there is a large untapped market for herbal hair care products.Bawang offers an extensive range of hair care products to consumers. adds to unit costs. Bawang also manufactures and distributes non-herbal shampoo under the Litao brand and skin care products under Smerry. Brand and product mix . pharmacies (eg. Bawang launched its Royal Wind brand. OG. Econ Mini Mart) and Chinese medicine stores (eg. Weaknesses Lack of effective marketing strategies – Bawang does not have strong marketing strategies for Singapore. ZTP). In 2009.     . and become successful. Bawang can tap into this market and gain the first mover advantage. It is not focused on brand awareness and advertisement in this new market. its sole distributor. supermarkets (eg. encompassing an anti-dandruff shampoo under the same Chinese herbal concept in the PRC. That it has to ship its products to Singapore. if these other brands are introduced in Singapore. Bawang can piggyback on their success and command more credibility. Unity). Opportunities Untapped market – Although the Singapore shampoo market is rather crowded. Mustafa. Higher costs of production – Bawang manufactures all its products at its current production unit located in Baiyun District in Guangzhou. and relies heavily on the distribution muscle of Hannah.  found in department stores (eg. NTUC Fairprice. successful multiple brands in the PRC acts as a cushion to offset any initial losses that Bawang may face in Singapore. Watsons.

Threats Competition – Bawang faces competition from well-established international and domestic brands in Singapore. marketing and promotion. price and the ability to respond to customers’ needs and preferences. of its revenue.1%. 2007 and 2008. its products have limited operating history when compared to some of the long-standing and well-recognized international brands present in Singapore.8% and 32. Consumer preferences and consumption patterns . market positioning. product quality. these costs represented 39.Costs of raw and packaging materials represent a significant portion of Bawang’s revenue.  Cross-selling – Bawang can leverage its success in hair-loss shampoo products to target and attract female consumers with its Royal Wind anti-dandruff shampoo brand. If the company fails to predict or meet consumer preferences or demand. Consumer preferences could shift away from hair care products with traditional Chinese ingredients for the following reasons: (i) Consumers believing claims made by chemical-based shampoo producers that their products have pharmacological benefits (ii) Any negative publicity relating to Chinese herbal or related products. business scale. 42. Also. then its products may lose competitive advantage. Costs of raw and packaging materials . Any significant fluctuation in prices of these materials may have a significant impact on the     . It competes with other brands in areas such as brand recognition. consumer preferences are fickle and consumption patterns constantly change. research and development capability. For each of the years ended 31 December 2006.5%. product variety. However.Bawang’s success depends on consumers’ inclination or otherwise towards hair care products with Chinese herbal ingredients. respectively.

coconut oil and fragrance. Raw materials include Chinese herbs. loyalty status and attitude. and has captured considerable brand loyalty. income levels and nationality. Bawang’s distributor in Singapore has adopted the strategy of mass marketing.  company’s profitability. Behavioral segmentation: Bawang can also look to segment the market based on behavioral patterns such as frequency of usage. Bawang has the potential of greater market penetration if attempts to segment the Singapore market and devise appropriate strategies to target each segment. it should target that segment which already uses Bawang products. benefits. and packaging materials include plastic bottles. Targeting Bawang should target the market segments with two clear objectives: a. gender. paper boxes and labels. Demographic segmentation: Bawang can look to divide the market by demographic parameters such as age and life cycle stage. surfactant. this approach is unlikely to yield dividends in the long run as it has to position itself in an already saturated market and compete against large multinationals. b. The Singapore market can be segmented based on various parameters: a. Targeting and Positioning Segmentation Hannah. Sustenance of existing market share: For this. This latter group extensively marketed its products through the evolution phase of the Singapore market.     . Segmentation. Although this strategy may have been used to introduce the product and generate awareness.

are non-users. 3. 5. Achieving market penetration: To achieve this.000 people in Singapore suffer from hair loss and the increasing popularity of herbal products in Singapore. The segments in Singapore seem to satisfy all required conditions for such niching to be effective. Positioning Having identified the target segments. Bawang can also target consumers who. Bawang can position itself with a unique image to capture maximum penetration in each segment. The part of this consumer segment that might be willing to shift to a herbal hair care solution can also be a lucrative target segment for Bawang. Accessible: These sections of the population are easy to access through various forms of awareness campaigns. Bawang can break down the target into niche market segments. The only     . Bawang should first target the population segment that is unaware of the product. Based on the above parameters. Substantial: Given that 469.  b. 1. though aware of Bawang. it is easy to conclude that the target segment will be significantly large and hence profitable to serve. 2. Differentiable: The segments are distinguishable on the basis of their awareness and level of loyalty towards the product. This segment should be further broken down into those who prefer herbal products over synthetic ones. Bawang enjoys a unique advantage in that there are no similar products available for sale in retail stores. 4. since their brand loyalties lie elsewhere. In Singapore. Measurable: The size of the segments can be measured by combining primary data obtained through surveys and combining that with secondary demographics data. Actionable: Each segment can be targeted by formulating effective marketing programs.

The survey also helped us estimate product awareness and users’ opinions regarding several of Bawang’s attributes. In fact.9 27. The question captures whether the participants suspect they have a hair loss problem rather than being diagnosed with one. Based on the response.27. we infer that there is a potential market for hair-loss combating solutions in the Singapore market. The questions and responses from the survey follow: Do you suspect you have a hair-loss problem? 67.3.9 percent of the participants believe they have a hair loss Male Female TOTAL 72. although the 32. and yet differentiate itself based on its unique use of Chinese herbs for hair treatment. a survey was conducted. and the hair loss shampoos Bawang is competing against. if any. As such.  products that belong in the same category are the minuscule number of herbal shampoos sold online. This helped us detect the size of the potential market. 36. Bawang has the unique positioning opportunity in the general shampoo and hair care products segment. the participants in this market.     .7 63.6 67.3 problem.3 versus 26. on of them being anti-hair loss shampoos.4 applicable to men rather than women. Consumer Survey In order to evaluate the current perception about Bawang as well as its potential in the Singapore market.1 average age of men in the sample is only one year higher This is mostly Yes No than that of women . less than 10 percent of Singaporeans are estimated to be suffering from hair loss.

4 although they believe the problem is present. Hair loss Shampoo No Hair loss Shampoo Hair loss No hair loss 22.8 Interestingly. This implies that the market for Bawang is in fact beyond consumers facing hair loss problems.3 6. The rest of the market is dominated by brands such as Pantene (33. use an anti-hair loss shampoo. 22. The remaining 31.6 percent do not use one.6 More specifically. only 68. Precaution is perhaps the reason for this choice. TOTAL 53.7 20.3%). as well as Sunsilk (13.3%).2 77.2 percent of shampoo users who said they did not have a hair loss problem. Although participants using     .4 percent of individuals believing to suffer from hair loss use a shampoo in order to treat it. which one do you use? (Choose up to 3) SHAMPOO Pantene (P&G) Bawang H&S (P&G) Sunsilk (Unilever) Phyto Foltene Other Frequency 33. Notably 73.3 Bawang is preferred by 26. Head & Shoulders (20%). If you are using a hair loss shampoo. They use one on a parallel basis with other shampoos.7 33.4 31.7 percent of hair loss shampoo users.3 (%) 26. regardless of whether or not they have hair-loss issues.3 percent of the participants use Procter and Gamble anti-hair loss shampoos (Pantene and H&S).6 46.  Do you use a hair loss shampoo? Almost half the participants use a hair-loss shampoo.7 6.0 13. 68.

8 Clear (Unilev) 15.7 7. Bawang certainly needs to make consumers more aware of its existence. once the shampoo’s existence becomes known. see if consumers prefer that as an attribute in hair loss shampoos. Sunsilk and Clear explicitly state on their respective bottles that they help prevent hair loss caused by hair breakage.3 percent of the hair loss suffering consumers who are aware of its existence do not use it. Yes TOTAL 32 No 68     . Pantene. not hair falling from the root. Have you heard of Bawang? Only 32 percent of the participants had heard of Bawang.2 7.  shampoos other than Bawang would also include others in their list. Bawang should consider investigating the ‘root’ problem.7) 5. Sunsilk and H&S. and possibly use that as one of its points of difference (POD) while communicating about the brand. it has a high probability of being used.7 Participants preferred Pantene.2 H&S (P&G) 30. In other words.7 percent chose Bawang from the list.7 percent of hair loss suffering and hair loss shampoo users use Bawang means that only (32-26.4 Bawang Vichy Dercos Other Frequency (%) 46. If you had to use a hair loss shampoo.7 7. which one would you choose? (Choose up to 3) SHAMPOO Pantene (P&G) Sunsilk (Unilev) 46. Only 7. The fact that 26. 75 percent of Bawang consumers use it on an exclusive basis.

1 Radio 0 Other 7. The frequency in which brand awareness was created though newspapers.     .1 percent. we should expect that positive word of mouth is being generated and this happens due to a satisfactory experience with the product.1 TV 11.M.O. The remaining 42. But in order for this to hold. Though it is hard to attribute what part of the sales comes from advertising and what part comes from WOM.3 percent of Bawang users either strongly dislike. Packaging About 57.7 percent either strongly dislike or slightly dislike it. the following questions were formed: How do the following appeal to you about Bawang product? A. This is attributable to trust and familiarity of the parties with each other.7 Newspaper 11. In order to detect whether this was the case. magazines. 66.1 Magazine 11. or somewhat dislike the packaging.7 The vast majority of consumers heard about Bawang via word of mouth.  Via which media did you hear about Bawang? MEDIA Frequency (%) W. it is widely accepted that WOM has a greater impact than any other form of information. It could also explain why most consumers who are suffering from hair-loss and are aware of the product are actually using it. television ads and other sources was 41.

About half that percentage strongly like or somewhat like the price.70 12.95 9.69 BOTTLE PRICE 10.  B.6 percent of the users tend to either strongly dislike it. There is obviously a bias in this answer since every consumer. In fact it has the highest price per 100ml when compared against competing shampoo brands from P&G and Unilever. is preferred by most of the current and potential users. SHAMPOO Bawang Head & Shoulders Head & Shoulders Sunsilk Sunsilk Clear Pantene PRICE/100 ML 2. is incentivised to overstate his dissatisfaction. 66. Bawang is indeed relatively expensive.45 9. However.74 2. being a price taker. as shown. according to our measurements.49 2. It is at least 60 percent more expensive than Pantene which.77 1.78 1.70 6.95 17.91 1. or somewhat dislike it. Price When asked about the product’s price.75 12.70 BOTTLE VOLUME 400 400 750 350 700 550 750     .36 1.

which is associated with pureness. Bawang has a distinctively herbal scent.7 percent seem to slightly dislike it and there were zero users expressing strong discontent. and oneness with nature. D. what is it that attracts them to the shampoo? The consumer’s opinion about the following attributes was also asked in the survey: C. Only 16. slightly or just like the scent of the product. Competing products had adopted a very aggressive pricing policy. somewhat. Bawang is the only shampoo which had a steady price throughout the sampling period. with promotional offers and discounts of up to 50 percent. Jackie Chan Image According to the survey. or simply like the shampoo’s endorsement by Jackie Chan.  Every shampoo which is more expensive than Bawang is only sold in pharmacies (Watsons and Guardian) and the price increase from the price of Bawang becomes rapid (Exhibit E). the Jackie Chan Image as a user and advertiser is another value adding factor to the Bawang experience. Unlike detergent-based shampoos. Scent Approximately 83 percent strongly. Moreover. Almost 83% of the users strongly.     . If users are not satisfied with the product’s packaging and price. with only 17 percent disliking it.

  E. a question with regards to Bawang’s effectiveness was asked. There were no responses in the negative. About 45 percent of Singaporeans have consulted traditional medicine providers. The remaining 33. and you get a very attractive market     . Traditional Chinese Medicine (TCM) is the most prominent traditional therapy. and Singaporeans do seem to value Traditional Chinese Medicine. Bawang should take full advantage of this perception as customers seem to value the association of the product with Chinese. Add the rising incidence of hair loss problems in Singapore. According to our survey. Considering that the vast majority of shampoos are detergent-based. Chinese Herbs There was no consumer who said he was dissatisfied with Bawang’s herbal qualities. the fitness for use is vital for the consumer’s decision and loyalty. Singaporeans consider TCM relatively safe and less invasive compared with Western medicine. Singapore becomes an appealing market for a Chinese herbal shampoo such as Bawang.3 percent were somewhat satisfied.In 2001. 66.7 percent have a strong liking for the product’s effectiveness. TCM in Singapore . both in terms of the number of its practitioners and patients and in its farreaching appeal. a study conducted by the World Health Organization (WHO) found that in Singapore. Bawang should use this characteristic as its POD (Exhibit F for the group’s proposed ad highlighting the ingredients). As such. Apart from the intangible characteristics. Effectiveness Lastly. E.

with revenue increasing from 392 million RMB in 2006 to 1. However.4 billion RMB in 2008. the net profit margin decreased from 29. Moreover.55 percent in 2006 to 63.55 percent in 2006 to 19. customers feel they are getting high value for money.95 percent in 2008. based on the above responses and considering that Bawang has adopted a very mild advertising policy in Singapore. recording a compounded annual growth rate of 89 percent during the period. the Jackie Chan image and effectiveness of Chinese herbs seem to be the strong attributes binding the product and its users. the survey shows that despite the product’s high price. Although packaging is a marginally negative factor and price is definitely a negative. In other words.   Survey Conclusions Based on the above responses. we can detect a plethora of product attributes that play their own role in the choice of Bawang by customers.     . its expansion and acceptance in the Singapore market can be explained with the help of the following diagram: Satisfied  Bawang  User  Word Of  Mouth  New  Bawang  User  Financial Analysis Bawang has seen extraordinary growth over the last three years in China.9 percent in 2008. The gross margins increased from 57.

Bawang could allocate more funding to increase its marketing campaign in Singapore. The strategy was successful and helped Bawang capture substantial market share. it has spent relatively little on advertising in the country as compared to China. Taiwan. In terms of the use of 30 percent of proceeds on future marketing and promotion. Since Bawang entered Singapore with sole distributorship.     . Financial Strength Bawang has had a successful IPO in Hong Kong in July 2009. The firm plans to use 18 percent of the IPO proceeds of USD$ 213 million to finance its overseas expansion into Singapore. Malaysia and Thailand.  Analyzing the reasons for growth Bawang adopted an aggressive strategy in 2007 by hiring 6219 salespersons to increase brand awareness.

The advertising expense constituted around 14 percent of its revenue on average during the period 2006 to 2008.  Advertising Expense Bawang has been spending substantially on advertising for its global operations.     .

  Singapore Market Analysis According to data from Euromonitor.8 * 0. The cost per litre of shampoo is 45.9 million in 2008. If we suppose that the per capita consumption in 2008 was also 0.8 million in 2008. then based on population figures of 4.75 liters.75 = 3. total consumption of shampoo comes out to be 4. The Bawang’s market share was around 2.     . the total Singapore shampoo market was SGD 45.6= SGD 12.6 percent on a pro rata basis (Bawang was launched in Singapore in September 2008). but it is definitely below other herbal products it is competing with.6 million litres.75 litres in 2007.75 The cost of Bawang thus comes out above the industry average.9/3. Per capita shampoo consumption Singapore had a per capita shampoo consumption of 0.

advertising is crucial. Bawang could adopt the marketing strategy it had adopted in China and hire more salespersons and do more television advertising to increase brand awareness in Singapore. message and measurement – to increase brand awareness. Recommendations In order to replicate the success of Chinese market in Singapore. Unlike other markets where Bawang has an advertising budget of around 14 percent of sales. money. it is practically minuscule. Bawang needs to step up its marketing endeavors to spread awareness of its products and increase its popularity amongst Singaporean consumers. Bawang should follow the ‘5 Ms of Marketing’ – the right mix of mission. increasing sales potential multifold. as illustrated below. media. The Five Ms of Mass Media Campaign For any product to be successful in a new market. In Singapore. in Singapore.     . But if delivered well. the advantage is that a product can become appealing to a diverse group of people. Bawang should consider the factors listed below before deciding on advertising.  Advertising Expense The visibility and brand awareness of Bawang in Singapore are quite low. advertising can be tricky. Brand Awareness Bawang’s immediate short term objective is to effectively market its products to increase brand awareness. where people are from diverse ethnic backgrounds. One of the reasons for this is the limited advertising campaign in Singapore.

repairs and nourishes weak hair and fights dandruff. and conviction among consumers to purchase it. Therefore. advertisements should aim to create liking and preference for the product. c. its benefits and its effectiveness. b. Bawang should make them aware of it. darkens hair. It can do this by conveying to consumers that Bawang reduces hair loss.  Mission a. Money Bawang is in its infancy in Singapore. and repeat the advertising a number of times over the course of the day.Once the consumer are aware of the brand and willing to buy. So in order to persuade consumers to buy this product. It should then use straightforward messages that emphasize the brand’s key benefits. Intermediate Mission .Create brand awareness and knowledge of the new product. advertising should aim to stimulate repeat purchase of the product. Short Term Mission . However. Moreover. it launched recently and hence is relatively unknown. in Singapore.Once the consumer is made aware of the product. It should consider     . people are not as well acquainted with the benefits of Chinese herbs. Bawang is a widely known brand and people are aware of the herbs used in the shampoo. Long Term Mission . In China. it should carefully allocate its advertising budget.

Billboards – Billboards is an effective mode of advertising. and therefore. Message As users are exposed to innumerable shampoo advertisements. Bawang will again require a larger budget. then the budget can be commensurately reduced. Media There are various advertising options that Bawang can consider. Since shampoo product is not seasonal and is sold through the year. Bawang’s message should be unique and be able to break through the clutter. we advertising should be gender neutral to increase the product’s appeal among both males and females.  following factors before deciding on the budget: A. It should target locations of heavy traffic. a large advertising budget is necessary to build brand awareness and encourage consumers to try the product. It should also consider competition before deciding on the advertising budget. Their effectiveness can be conveyed through some success stories from China. Placement of a billboard is important for its visibility. That it highlights its distinct feature of being produced from Chinese herbs is paramount. it is important for Bawang to generate a fresh message that creates an immediate and lasting effect in consumer minds. Celebrity endorsement of the product can go a long way in establishing the brand’s credibility among consumers.     . Often. It is a new product in Singapore market. To gain a foothold in a market already saturated with different brands of shampoo. Once the brand becomes established. crucial intersections in Singapore and arterial highways that reach Singaporeans from their home to office. but should be all the year round. B. Also. a message receives more visibility depending on the person delivering it. advertising should not happen in bursts.

if any. television advertising should ideally be aired in evening prime time slots so that there is maximum impact. who are at work most of the day.     . Publishing ads through Google’s AdWords. and posting targeted specific groups on social networking websites like Facebook and Orkut can be effective means of advertising. that advertising has generated. who are in the habit of picking up a newspaper or flipping through a magazine. Bawang should be advertised through this medium. The target market being middle-aged men and women. Print Ads – With the target market for Bawang being middle-aged men and women. Internet – In this digital era. Bawang should fully exploit this medium. Measurement Through consumer surveys. in which most Singaporeans have access to the internet and spend a considerable amount of time online. Bawang may also consider measuring advertising’s sales effect. personality e and other brand intangibles can be best portrayed through moving images.  Billboards should also be capable of producing digitally enhanced graphics and backlighting. a service that sorts consumer preferences by tracking online consumer behavior and targeting them with relevant ads when they come online. There is no argument that brand image. Bawang can track the awareness and buzz. Television – This will be the most effective advertising medium as it can effectively demonstrate product attributes and persuasively explain consumer benefits.

Such a     . it needs to attain optimal visibility on store shelves. Bawang should persuade retailers to place its products in these areas to gain visibility. But the product in no way seems to stand out from the multitude of other products available for hair care. These are typically special interest products or items with ongoing promotional offers. These areas serve as in-store marketing platforms for Bawang. Product Promotional Zones: In China. Being a new entrant to Singapore and a less known brand.  Measuring Sales Impact of Advertising         Share of Expenditures               Share of Voice      Share of mind and heart             Share of market  Sales and Promotions Bawang products are available on store shelves of all major retailers in Singapore. Bawang has created special zones in retail stores by acquiring an area of the shop floor exclusively to showcase Bawang products and promotions. The following specific strategies must be implemented in Singapore for this: Special Zones: Many retail stores have special zones dedicated for new and niche products.

While the actor has tremendous appeal in Asia. Bawang can enhance its image by having local Singaporean celebrities. Bawang can also employ the following strategies to garner a share of the Singapore customer’s heart and mind. newspapers or magazines on healthcare/fashion. Bawang. it can also be placed alongside herbal and medicinal products in retail stores. Additionally. along with. can be extremely effective. both male and female. Bawang may also seek endorsement from international celebrities to appeal to the demographic mix of Singapore. Public Relations and Publicity Celebrity endorsements: Bawang has chosen action star Jackie Chan as its brand ambassador. Distribution of samples: One surefire method of increasing brand awareness is to allow consumers to try the product before purchasing it. through its distributor Hannah. Herbal and medicinal product areas: While Bawang is essentially a shampoo brand. Bawang also gets into special agreements with retailers to employ personnel dedicated to monitoring sales and promoting Bawang within the stores. should implement the same strategy in Singapore. if adopted in high-footfall retail stores and malls in Singapore. endorse the brand. Other endorsements: Bawang should additionally look to obtain endorsements from healthcare treatment centers and health spas.  promotional strategy. Such endorsements will reinforce Bawang’s image as a highly recommended hair care product.     . Retail Monitors: In China. say. Bawang could distribute small sample sachets of its products complementary.

short of time and tired of traffic and parking headaches appreciate buying products online or over the phone. social events. Since beauty pageants are related to beauty and good looks. parties and ‘green’ events. Bawang can broaden its target market. yet not in-the-face self-promotion. The growth of the internet. Events and Experiences Bawang can sponsor events like beauty pageants. Elite events that will lend the brand more prestige and credibility could again be a source of targeting potential users for Bawang. By becoming part of a special and more personally relevant moment in consumers’ lives. Bawang should support environmental causes and sponsor events related to going green. Bawang can increase brand awareness through sustained. and usually attended by youngsters. Bawang can use this as a platform to widen its target base from middle-aged men and women to youngsters. Beauty Pageant – By sponsoring beauty pageants.  Testimonials: The company should regularly collect and publish testimonials from satisfied customers through appropriate media channels as well as through its website. the increased use of credit cards     . ‘Green’ events – Being an herbal product. Moreover. Consumers. Cause-related marketing and tie-ups with non-profit organizations and charities can further improve perception about Bawang. email and mobile phones has increased direct marketing avenues. Social events and parties – Bawang can also sponsor social events and parties to enhance its corporate image. Direct Marketing Ordering Online: Market de-massification has resulted in an ever-increasing number of market niches.

This can help Bawang increase revenue. Packaging On analyzing Bawang’s current packaging. but totally out of sync with the urban and trendy outlook of the modern-day Singaporean. Bawang can use this opportunity and market its products through telemarketing. in sync with its herbal features. in an average Asian household. Hence. catalogues and online marketing. B. Telemarketing: Bawang can use call centers to attract prospective clients and service the needs of existing ones. Since the product is suited for use by both genders. Moreover. the woman is the primary buyer of household products including toiletries. as a first step. The color of Bawang’s packaging is dark green or black. Bawang should focus on improving the ease of use and physical attractiveness of its website. reduce selling costs and improve customer satisfaction. To achieve its communication and sales objectives.     . Bawang’s current packaging gives it a masculine look.  makes direct marketing easier. The site should also be quickly downloadable. even a male product needs to be gender neutral for it to be picked up. the following observations are evident: A. Online Marketing: This will be the most cost-effective form of marketing. it should be repackaged to suit females.

External Information Bawang can use several ways to get feedback from the customers. Bawang can get a more comprehensive understanding of its customer preferences.  Collaborate with external parties In addition. Internal Information Bawang must not only analyze direct sales data with regards to retailers. such as:  Set up a forum – People suffering from various hair problems including hair loss. it will be useful to get important information from external parties such as distributors. Based on information gathered from this forum. 2. dandruff and itchy scalp could share their problems and make recommendations to Bawang. Bawang must monitor the outcome of the strategy. The effect on revenues after the implementation of the strategies would help Bawang gauge the effectiveness of its strategies.  Controls After implementing the proposed strategy. It can be done in two ways: 1. but also with regards to the different variants of the Bawang shampoo. wholesalers and retailers regarding sales trends and sales figures to evaluate the effectiveness of the strategies.Commission marketing research  Bawang could also engage marketing firms to survey the effectiveness of employed strategies.     . developing marketing trends and thus discover how well do people identify with the Bawang brand.

  Exhibit A Bawang Corporate Structure     .

  Exhibit B Age of Respondents Gender of Respondents Do you have hair loss?     .

  Main Cause for Hair Loss Can hair loss be cured 100 percent?     .

  Do you believe hair loss will affect your social life/career? How will hair loss affect you most?     .

what item?     .  Would you be willing to trade a personal possession for more hair? If yes.

8 11. Trade associations. Trade interviews.0 1. Euromonitor International estimates     .5 2.3 6.0 1.5 2.5 2. Trade press.8 11.3 4.2 3.6 7.8 1.0 4.0 2.6 11. Store checks.5 4.5 3.7 19.5 3.0 2.4 1.9 12.  Exhibit C Sales of Medicated Skin Care by Subsector: percent Value Growth 2003-2008 2003-08 percent current value growth 2007/08 2003/08 TOTAL CAGR Medicated skin care Hair loss treatments Topical antifungals Vaginal antifungals Medicated shampoos Acne treatments Antipruritics Topical germicidals/antiseptics Topical allergy remedies/antihistamines Antiparasitics/lice (head and body) treatments Lip care treatments Emollients/therapeutic moisturisers Haemorrhoid treatments Child-specific medicated skin care Nappy (diaper) rash treatments 2.3 3.5 2.0 24. Company research.7 19.2 9.8 6.8 15.1 Source: Official statistics.6 1.2 3.1 10.0 2.5 3.4 1.9 12.5 4.5 2.7 2.5 3.0 37.

4 0.9 0.7 0.8 20.4 2.5 100 Source: Trade associations.6 4.9 20.7 5.7 0.5 0.7 0. The Henkel KGaA Nu Skin Enterprises Singapore Pte Ltd Tohtonku (S) Pte Ltd Way Co Pte Ltd Colgate-Palmolive Eastern Pte Ltd Amway (S) Pte Ltd Sara Lee Singapore Pte Ltd Kosé Singapore Pte Ltd Johnson & Johnson Pte Ltd Shiseido (S) Co Pte Ltd Combe Inc Lion Corp (S) Pte Ltd Reckitt Benckiser (S) Pte Ltd Hoyu Co Ltd Wella AG Clarins Pte Ltd Private Label Others Total 2004 19.7 16.6 0.2 0.1 1.8 1.2 0.7 0.7 0.1 0.1 0.8 0.4 1.6 2 1 1 0.1 0.2 0.1 0.1 2.6 0.6 0.1 0.6 0.2 0.2 100 100 2008 21.4 0.1 0.7 2.4 0.8 0.  Exhibit D Hair Care Company Shares by Retail Value 2004-2008 percent retail value rsp L'Oréal (S) Pte Ltd Unilever Singapore Pte Ltd Procter & Gamble (S) Pte Ltd Mandom Corp (S) Pte Ltd Kao (S) Pte Ltd Hoyu Singapore Pte Ltd Revlon Inc Body Shop (S) Pte Ltd.3 6.3 0.7 20.9 6.3 0. trade press.9 3 2.9 1.8 0.2 0.6 0.1 0.9 0.5 0.6 0.3 0.7 0.2 0.2 2.1 1 19.6 100 1 22 100 1.1 0.9 6.4 0.1 1.8 17.7 3.7 2.1 0.3 0.4 0.1 0.2 0.4 14.3 0.6 3.4 2.9 0.5 3.1 20.6 17 15. trade interviews.9 18.9 17.4 0.7 0.3 0.6 2. Euromonitor International estimates     .2 16.5 19.2 2 1.5 3 2005 19.4 0.6 0.1 22.1 0. company research.3 2.5 1.6 0.6 0.1 6 2 2006 2007 19.

00 9.  Exhibit E Retail prices of competing anti-hair loss shampoos BRAND Rene Furterer Foltene Ducray Anaphase Phyto thinning hair Vichy Dercos Grorich hair follicles Shokaigan Intensive Treatment Shampoo Pregaine Pregaine for frequent use Pregaine Pregaine for frequent use Dove Therapy BA WANG Head and Shoulders Head and Shoulders Sunsilk Hairfall Solution Sunsilk Hairfall Solution Clear Pantene pro V hair fall control Price/100ml PRICE VOL 24.78 1.00 19. Guardian and Cold Storage     .50 10.00 18.95 16.38 2.48 8.69 59.00 9.91 1.70 6.70 700 200 200 400 400 375 400 400 750 350 700 550 750 Source: Watsons.48 7.90 11.00 150 200 150 200 200 300 8.75 12.67 19.56 8.49 2.77 1.75 2.00 27.20 6.91 2.45 9.80 25.33 37.95 17.50 9.90 32.70 12.90 16.00 38.60 16.95 28.36 1.00 28.

  Exhibit F Group’s Proposed Advertisement highlighting the Herbal Ingredients     .

Based on our preliminary research.sg    MBA 2011 Real Estate       .   We have chosen to do a study on Bawang because we are interested in exploring its growth potential here in Singapore.sg> To: cara.lee@nus.sg Sent: Tuesday.     Thank you. we have noted that Bawang is the fourth largest hair care player in China yet it is relatively new in Singapore.Forwarded Message ---From: Peter Lee Shun Ta <peter. Wong. Bawang as part of our Marketing project.com.   As your company is the sole distributor of Bawang in Singapore. Lee  peter.    Peter S.  Appendix A ----. your office may contact me or my colleague Roland Lim at telephone nos.wong@hannah.s. For confirmation and/or further queries/concerns. 2009 7:01:18 Subject: Regarding Bawang Brand Research (NUS MBA)     Dear Ms. we would like to schedule a meeting with you or a representative from your firm to discuss more about the brand and how our study can help provide relevant research data and insights to your company with regard to the said brand.  Sincerely.   We sincerely hope that you will accommodate our request and we look forward to your reply. 9101-6977 or 9083-4523.lee@nus.s. September 22. Greetings! My name is Peter Lee and I am writing to you on the behalf of myself as well as several of my fellow MBA students at the National University of Singapore (NUS) who are currently conducting a research study on the hair shampoo brand.edu.edu.

com/blog/singapore-hair-loss-support-group http://www.DHT.shtml http://apps.jpg http://en.com/images/ganoderma-tsugae_ngco.e2121.int/medicinedocs/en/d/Jh2943e/9. Swee Hong Ang.emedexpert.org/wiki/Alopecia http://stress.php3?viewid=362&setlang= http://www.ingredients.com/hair. trade interviews from which Euromonitor International gathered information Marketing Management: An Asian Perspective (Fifth Edition) Philip Kotler.html http://www.com/ http://www.shtml http://aremyhair.wikipedia.blogcatalog. Kevin Lane Keller.com/upload//9000/200/10/0/139210.com/all_about_hair_loss.gov/pubmed/15862941 http://www.naturalstandard. store checks. company research.loss.ncbi.reishiscience.1185/030079905X61820?journalCod e=cmo http://www. Chin Tion Tan     Online references:                  http://en.who. Ltd marketing document.16. trade press.com/en/ganoderma-health-products.htm http://cdn-write.demandstudios.html http://www.jpg http://gano-online.wikipedia.htm http://ezinearticles.com/naturalstandard/images/monographs/main/ss_fot i.  Bibliography   June 2009 prospectus document of Bawang International (Group) Holding Limited Overview of Singapore Hair Care Market (Datamonitor September 2009) Porda International (Finance) PR Co.com/?The-Psychological-Effects-of-HairLoss&id=881415) http://informahealthcare.herbsforhairloss.endhairlossnaturally.com/tips/hair-loss-effects.nlm.org/wiki/Polygonum_multiflorum http://www. “Bawang Group Announces Proposed Listing on the Main Board of the HKEx” Official statistics.about.com/doi/abs/10.jpg     . trade associations.com/herb_db/viewherb.com/od/otherconditions/a/22707hair_loss. Siew Meng Leong.nih.