Tiger Balm: Internationalization and Product Extension
(9 pages of text)
Haw Par Corporation’s healthcare division produces Tiger Balm, the external analgesic rub that has gained global popularity. Despite delivering strong results, the division remains dependent on Asian markets, which poses challenges with regard to low affordability, weak protection of intellectual property and aggressive competition. To achieve sustained growth, the company’s executive director is considering several alternatives: geographic expansion, by entering more markets; product expansion, through deeper penetration of existing markets with new products; and extending the brand into the highly competitive wellness space. He also needs to decide whether the division should pursue organic or inorganic growth.
This case is suitable for use in either a strategy or an international business course. In a strategy course, the case can be used later in the course, when international expansion is discussed. In an international business course, the case can be discussed whenever international expansion is a relevant theme. The case discussion illustrates the following learning objectives:
- The importance of developing durable assets such as a brand reputation and effective distribution systems.
- The repositioning and international expansion of a reputable but stagnant brand.
- The difficulty of choosing from among several alternative growth strategies.
Health Care Services
Singapore, Medium, 2015
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