Wen | Ma Sijia of the Chinese Merchants Hall of Fame
The national brand was forced to delist in only 6 years, and it is once a household name.
At its peak, Golden Throat's share price had reached HK$8, but by the time the delisting was announced, it had fallen to HK$1.8. Success and failure, everything is attributed to the founder of Golden Throat, Jiang Peizhen, known as "Jiang Niangzi".
Jiang Peizhen was born in a rural family in Pingnan, Guangxi, poor children have long been in charge, Jiang Peizhen entered the Liuzhou Candy No. 2 Factory at the age of 14, from the grass-roots sugar workers all the way to the factory director. During her tenure as factory director, she carried out drastic reforms, not only conforming to the trend of the market economy, dissolving the joint venture relationship between the factory and the government-affiliated companies, but also vigorously investing money to introduce foreign advanced production lines to improve production efficiency. In a few years, the output value of the factory under the leadership of Jiang Peizhen has reached more than 97 million.
Since then, in order to seek new development of the factory, Jiang Peizhen has decided to engage in high-tech products at the suggestion of a certain leader. She traveled to shanghai universities for help, and met the noble man who achieved herself at East China Normal University, which was later the head portrait on the box of the golden throat - Professor Wang Yaofa. Professor Wang, who was developing a formula for chronic pharyngitis, hit it off with Jiang Peizhen, and the golden throat treasure was born, and Professor Wang did not charge a penny.
The popularity of the golden voice throughout the country is largely due to Jiang Peizhen's vigorous marketing in television advertising, most of the post-80s and post-90s have seen Ronaldo's golden voice advertisement on TV, but few people know that this advertisement was deceived by Jiang Peizhen.
In 2003, Ronaldo came to China, Jiang Peizhen, who could not afford a high endorsement fee, took out 300,000 US dollars and invited Ronaldo to the banquet as a fan, and Ronaldo was put on a golden throat T-shirt at the banquet site, and was also asked to take a photo with a golden voice.
While indulging in marketing, Jiang Peizhen is not concerned about product research and development. In 2015, Golden Throat announced that it would invest 65 million yuan in research and development, but it has not yet seen this funding. For a long time, Golden Throat has always had the problem of a single product, and it is facing a lot of crisis in the market with rich competitors. Jiang Peizhen's response was to launch golden throat herbal drinks in 2016, which was described by netizens as a "poisonous water" with a bad taste after its listing, and the net profit of golden throat in the same year was also reduced by 33.4% year-on-year due to the loss of the beverage business.
Jiang Peizhen's ability and vigor have turned Liuzhou Candy No. 2 Factory into a well-known golden throat group in the country. Her excessive obsession with marketing and lack of attention to research and development have made Golden Throat not only weaken its market competitiveness, but also face the dilemma of being forced to delist. The brilliance of The Golden Voice was largely attributed to Jiang Peizhen's investment in advertising and marketing, but marketing and research and development never conflicted, and only publicity ignored the core, and could only lead to an impasse after putting the cart before the horse.
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