How do Companies Stay Competitive at the Maturity Stage?

How do companies maintain their position in the market when their product has already come to the maturity stage of the product life cycle? This is the question lingered in my head for many days before I wrote this blog.

This question really is a main debate topic of a Chinese TV show called “brainstorm” that I watched on a Saturday afternoon. “Brainstorm” is a great show where the participants are all CEOs or people of senior positions of famous enterprises gather together to brainstorm ideas regarding a certain question. I was first attracted to the show when the CEO of a famous candy manufacturing company appeared on my screen. This candy has a name called “Big White Rabbit” (straight translate from its Chinese name).

It has been my all time favourite candy for the past twenty years and it has also been my parents’ all time favourite. My family has this tradition of always keeping some of this candy at home since I was very little.

The CEO of this company was one of the participants for the brainstorming session and he rose up the question of how to stay competitive in the 21st century candy market while almost no one even remembers his product nowadays. Yes, it is very sad that the candy doesn’t have sophisticated packaging nor does it have a wonderful unforgettable taste. The price of this candy is very inexpensive, and to be honest, it jams in your mouth kind of too much when you try it. Compare to other candies in nowadays market; this candy should have been forced out of the market long time ago. It has a even longer history than Coke Cola. How can it stay in the market for so long just like a miracle? Because of its brand– a traditional candy brand that targets Chinese people who are hugely influenced by tradition. The CEO talked about the fact that since February is the month of the Chinese New Year, the CEO found out that their sales has increased dramatically over this month. Why? Because it’s the month where mothers and grandmothers go out shopping for preparation of the New Year’s party and obviously the company’s consumers are people aged over 40.

However, I think differently. Even though mothers and grandmothers might be the main consuemrs to this candy, other people who don’t fall under this category might go buy this candy just for the sake of the “emotion attachment”. I personally love this candy and will keep one or two in my bag at all times. It’s the power of people’s emotion that counts when it comes to marketing. It outrages all the other factors, no matter if it’s innovation or STP. Love big white rabbit! YAY!