Global Brands Seek to Profit From Year of the Monkey Marketing Strategy
Desiree Sison | | Feb 04, 2016 07:09 AM EST |
(Photo : Photo by ChinaFotoPress/ChinaFotoPress via Getty Images) Dough sculpture artist Li Jinguo makes dough monkeys on January 13, 2016 in Rizhao, Shandong Province of China. Several global brands have adopted the Year of the Monkey-themed marketing strategies for their products as the Chinese New Year approaches.
As the Chinese New Year approaches, sales have been up for international retail brands who have opted to take advantage of the celebrations by designing their products with monkey images and characters.
International products such as PepsiCo, KFC, and Mondelez China are among those who have joined the Chinese New Year bandwagon by altering their marketing strategy and adopting the Year of the Monkey theme for their wide array of products and services.
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At KFC restaurants, Monkey King toys have become the latest craze with many customers lining up to get the toys. The gift sets costs 200 yuan (roughly $30) on the retail shopping website, Taobao.com.
KFC and Shanghai Art Film studio
The gift sets were designed by KFC and the Shanghai Art Film studio. It includes three Monkey King toys and three cartoon and coloring books.
PepsiCo has released commemorative soda cans in China inspired by the Peking Opera version of the Monkey King. The special edition Pepsi cans were first released on online retail giant, JD.com on December 29.
Mondelez China, a snack and food giant based in the US, has also designed their gift packages with monkey images.
Happy customers
The President of Mondelez China Stephen Maher said he is hoping that the beaming golden monkey designs in the stores' displays as well as their promotional items like gift bags would make their customers happy.
Marketing strategists said the monkey-themed sales promotion by these companies indicates that global brands have slowly been adapting to the Chinese market.
Despite several companies joining the monkey-related bandwagon, analysts, however, are ambivalent about a substantial return of profits.
Analysts, however, agree that the marketing strategy is a way for companies to engage Chinese customers in a traditional and cultural setting.
Reports indicate that some local brands have likewise adopted the marketing strategy but have not been able to achieve their targeted profits.
TagsYear of the Monkey, Chinese New Year, KFC, PepsiCo, Mondelez China
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