The moment when the French team once again took the World Cup in the early morning of July 16, it also marked that the Chinese kitchen appliance company Vantage (002035.SZ, hereinafter referred to as "Vatican") was bet on the 2018 Russia World Cup marketing war.
With the promotion of “French team won the championshipâ€, “Vader launched the full refund†on July 16th, once ranked first in Baidu’s hot search list.
However, according to the interview of the first financial reporter, in fact, Vantage's full refund is only the product model specified during the promotion period. Compared with the official sponsor of the World Cup, Vantage's marketing can be described as "four or two."
Designated product refund
Although it is in the name of retreating the full amount, Vantage has imposed restrictions on time, channels and product models.
The "French team won the championship" is essentially a clever marketing and publicity campaign. The real gold and silver of Vantage is not much.
According to Vantage’s previous announcement, if the French national football team wins the World Cup in Russia in 2018, it will purchase Vantage’s designated products and participate in the period from 0:00 on June 1, 2018 to 22:00 on July 3, 2018. For consumers who win the championship, Vantage will refund the invoice amount of the designated product. The event was launched online and offline simultaneously.
Among them, the refund responsibility of the offline channel is borne by the sales regional distributor. According to preliminary statistics, the total retail sales of offline channels during the activity period is estimated to be about 700 million yuan, a year-on-year increase of about 20%. The terminal retail sales of the designated products of “winning the championship†is estimated to be about 50 million yuan, and the retail sales of the designated products will account for about 7% of the total retail sales of the offline channels. If the refund actually occurs, the cost that the dealer has to bear is only the purchase cost and part of the promotion cost of the designated product. The fee will be less than 50 million yuan.
The refund responsibility for online channels is borne by Vantage Headquarters. The total retail sales of online channels during the event is expected to be approximately RMB 300 million, an increase of over 30% year-on-year. The terminal retail sales of the designated products of “winning the championship†is estimated to be about 29 million yuan, and the retail sales of designated products in the “winning the full amount†account for about 9.67% of the online channel retail sales. If the actual refund occurs, the cost of the Vantage headquarters is only the production cost and part of the promotion cost of the designated product of “winning the full refundâ€, instead of the terminal retail sales of the designated product of “winning the full refundâ€. The fee will be less than 29 million yuan.
Guo Weide, vice president of Avi Cloud (AVC), told the First Financial News that June and July are the peak seasons for e-commerce. From the e-commerce retail data, Vantage’s share increased by 3%, outperforming the market; offline channels are complex and not Easy to count. However, this marketing has a significant impact on the brand image of Vantage, which is better than pure advertising investment. This is a precise marketing investment.
Mei Dunjian, assistant general manager of Guangzhou Gome, believes that Fang Tai and his boss have higher product prices. Vantage’s products have cost-effective products and marketing activities, so they are highlighted in this World Cup promotion.
A dealer in the western part of Guangdong Province also told CBN that although offline dealers took on more than online e-commerce platforms, Vantage's dealers basically participated in the promotion. Consumers who bought the "Winning Package" will receive a refund. Some consumers have purchased the winning package, but not much, because there are only one or two models for the winning package, which is basically a mid-range product. The price of the two-piece hood is about 3,000-4,000 yuan. Vantage has about one-third of the subsidies for offline dealers, and more of them are borne by dealers, but there are advertising effects.
In fact, the First Financial Reporter noticed that consumers who bought the winning package did not return the cash completely. The official authorized store of Vantage Online returns to the customer platform shopping card according to the customer invoice amount, such as Tmall returning cat super card, Jingdong returning to Jingdong E card, Suning returning to Suning gift card, Gome to US card. In addition, if the smoke stove package gift in the purchased championship package plus 400 yuan upgrade disinfection cabinet or gift disinfection cabinet, then this smoke stove package does not participate in the "return full payment". The same ID is limited to 2 sets of the same model to win the championship package to participate in the "return full payment" activity. Customers need to register before July 24.
Dealer pressure
Ten years ago, Vantage had a well-known sports marketing campaign and became the torch sponsor of the Beijing Olympics in 2008. Du Jianjun, the chairman of the Far East Advisory Group, who was once a marketing consultant of Vantage, told the First Financial News that the same is sports marketing. Vantage 2018 World Cup marketing is a bit like "gambling on the ball", becoming the official sponsor of the French team, eventually winning the championship in France, Vantage small investment High attention.
As the torch sponsor of the 2008 Beijing Olympic Games, it not only improved the visibility of Vantage, but also brought brand innovation of technological innovation, quality assurance and internationalization. Because the torch needs to be extinguished in the wind and rain, and it is transmitted globally. In contrast, the promotion of the French team's winning and retiring in 2018 has increased their popularity, but there are not many brand associations that bring technological innovation and quality assurance.
Moreover, during the 2018 World Cup promotion, Vantage's Beijing and Tianjin agents lost contact with the media, which caused the capital market to overestimate the pressure of the Vantage dealers in the weak real estate market, and whether the French team won the championship or not. Concerns about the performance of Vantage, so the stock price of Vantage shares fell on July 2. However, Vantage then clarified urgently.
After Beijing and Tianjin agents Wang Wei lost contact, Vantage has seized Beijing and Tianjin Vantage Gas Appliances Co., Ltd. through judicial procedures to protect consumer rights and Vantage's property from loss.
Regarding the latest developments in the Beijing-Tianjin agent's loss of cooperation, Vantage related people told the First Financial News that due to the entry into the judicial process, it is temporarily inconvenient to disclose more information.
In Du Jianjun's view, under the trend of new retail, the channels are diversified, and the consumption habits after 90s are different from those of the 70s and 80s, so traditional home appliance dealers face great challenges. Despite the rapid growth of e-commerce platforms such as Tmall, Jingdong and Suning Tesco, home appliance brands are not willing to care about offline channels, so there will be contradictions. The growth rate of offline channels is slower than online, and they also undertake important regional strategic tasks. .
Since the beginning of this year, the real estate market has been weak, and the days of traditional home appliance dealers have become even more difficult. Recently, in addition to the loss of the Huadi Beijing-Tianjin agent, a central air-conditioning dealer in Gree Hangzhou was also exposed. A home appliance dealer who asked not to be named told CBN that Gree and Vantage had the practice of pressing the dealers. If the sales task is not completed and the manufacturer's reward policy is not available, it will lead to high inventory.
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