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SUMMARY OF JOYOUNG SOYMILK MAKER JOYOUNG brand was launched in 1994 and invented the world’s first automatic soymilk maker home appliance. . It became one of the most prominent brand in its field and had captured the 80 percent market share. It had nearly two thousand employees and the company's sales grew by RMB 6 million to RMB 12 million. They fought the competition by being constant innovators to develop a high-quality and differentiated products that met the needs of its customers. It was among the fast-learning Chinese companies which relied on extensive market research.

Due to which it could not succeed and had first two thousand units remained sacked in storage for months. . But later when they decided to conduct market research they dint only succeeded but surpassed the sales of Phillips home appliances in the Chinese market. but the customers had no idea what this machine does.Contrary to its current success. Joyoung soymilk could not succeed at the time when they launched the product as they assumed that the product would be accepted by the customers.

.Objective To Make it easier for consumer to enjoy healthy life styles. To do constant innovation of product so as to satisfy the consumer and to fight competition. To develop high quality and distinctively designed products that meet consumer’s need.

• No positioning. • Targets were not set properly. . • No good strategy was followed.Approaches to the Problem • They did not conduct market research and relied on the historical assumptions. • No new promotions strategies.

2. 3.Customer’s profile • There are various factors on which customers profile is made for market segmentation. . What is the Marital status – single or married. 35 – 54 55 and above. Gender – male or female. but the factors used by Joyoung ltd were:1. In which Age group they belong – under 34 .

000 .RMB 19. What is there basic pay :- Less than RMB 5. Their psychological character's :. opinion and interest.999 RMB 15.usage.RMB 24.000 . Behaviour related characteristics:.000 RMB 5.000 .999 RMB 20.999 RMB 25000 .000 . 6. loyalty status. .4. benefits.RMB 9. 5.and higher.RMB 14.attitude.999 RMB 10.

• Joyuoung soymilk maker tends to satisfy the customers need of providing healthy lifestyle. Joyuoung soymilk maker satisfies there need by developing high quality and distinctively designed products that meet customer needs.Needs that satisfies the customer • The need of the customer is the motivating factor for them to buy the product. • As for health conscious people the products they consume need to be of high quality without any adulteration. .

. • Constant innovation should be done to develop high-quality product and distinctively designed product should be made to satisfy the consumer’s needs. • Should target new market. • Market segmentation should be done.What they should do? • Before launching any new product market research should be done.

Conclusion Subject Of Evaluation • Constant growth of Joyoung company ltd. .

Criteria • Extensive research Hired SICC to conduct research • Captured a wide range of markets With the help of different type of products • Constant innovation To make the products more user friendly. .