Every hot review 丨 golden throat delisting proves that the company cannot rely on marketing alone

Every commentator Xu Shuai

The once-household golden voice is about to be delisted. A few days ago, Golden Throat announced that it is expected to revoke the listing status of shares on the Hong Kong Stock Exchange at 9 a.m. on December 15 this year.

"Dream Quest" tells the story of Igman's allegory of death, and a person has three chances to be remembered in his life. Why not a company like Golden Throat? For the first time, Golden Voice became famous with Ronaldo and the intensive advertising on CCTV. The second time, on July 15, 2015, Jiang Peizhen beat the gong on the Hong Kong Stock Exchange, and people knew that the boss of the golden voice became a billionaire. The third time is now, the former star enterprises are about to be delisted.

Delisting is better than bankruptcy, and golden voices at least have a chance to make a comeback. Those explosive products that were once as famous as the golden voice and were famous for marketing are now invisible to everyone. For example, the little bully learning machine of the same era as the golden voice, and so on. These are all vivid cases in the history of Chinese enterprises, but unfortunately, the lesson that mankind has learned in history is that it will never learn. Otherwise, it is difficult to explain why some so-called Internet companies are still obsessed with viral marketing. It's just that it used to be on TV, but now it's replaced by other forms such as elevator advertisements.

Many times, we simply understand the "lessons" from an empirical level, attributing it to the poor management of the business or the bad track it is on. It is rare to understand the commonality of the "lesson" from the perspective of universality - why do the once star companies suddenly do not understand the market demand?

In the author's opinion, The Golden Voice understands market demand too statically and ignores the changes in demand brought about by the economic boom. Behind this is the change and prosperity of China's market economy from an extensive to a more refined division of labor.

In 1995, Jiang Peizhen took out 5 million yuan to advertise on CCTV. CCTV was the most important national medium for Chinese people to contact product advertising at that time, and the golden voice that was centrally exposed was naturally more likely to be famous. In the pioneering stage of the market economy, the marginal effect of "becoming famous" is enormous. "Protect your voice, please use a golden voice", in the era of relatively closed information, such a simple and clear goal can easily hit the needs of the audience.

At that time, when the market division of labor was not developed, marketing was an important factor in the success of enterprises. But with the enrichment of consumer awareness, the importance of marketing in business operations is no longer as high as in the past. In today's economic boom, this kind of "famous" marketing cannot be all-encompassing. Many people will even question whether the sugar content of golden throat lozenge is necessarily effective for the throat. These emerging products such as Fat Sea have gradually become alternatives, gradually challenging the golden voice of the past in the ranking of demand.

In 2020, the sales revenue of Golden Throat Throat Tablets was about 580 million yuan, a year-on-year decrease of 19.3%; the sales revenue of Throat Treasure series products was about 53.7 million yuan, a year-on-year decrease of 19.6%.

This is actually a common dilemma of partial marketing enterprises, which is remembered for a while and difficult to remember for a lifetime. The price of demand is always marginally changing, and the higher the value ranking, the more consumers can be retained. The "golden throat dilemma" reflects the change in consumer value preferences, when the value ranking has been very low, even if the marketing effort is successful, it is ultimately powerless to return to the sky.

Then there is marketing itself, and unscrupulous entrepreneurs who start up have the possibility of taking advantage of the sword and seeking wealth and danger. But with such emphasis on intellectual property protection, the story of Golden Voice and Ronaldo is difficult to repeat. The rule of law and market rules are constantly improving, consumer demand is constantly improving, and the successful experience of Golden Throat in the past is difficult to replicate.

In the past, the transformation of "arbitrage entrepreneurs" to "innovative entrepreneurs" shows that marketing alone is difficult to achieve. The significance of the market is that higher demand needs to be met with a higher level of supply.

The delisting of Golden Throat proves that marketing alone is a road that cannot be followed.

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