A Study on the Development Model of Quanjude, a Time-Honored Brand

    Xian Fa Shang ,Myeong Cheol Choi2 ,Fan Shen Han ,An Na Zou ,Hann Earl Kim
    Keywords: Time-honored brand, Quanjude, Development strategy, Five forces model, SWOT analysis ,

    Abstract

    Abstract
    China’s time-honored brands have a rich cultural heritage, carrying the history and culture of China, and
    they have been recognized and supported by the majority of consumers, forming strong reputations and
    influence. In the era of rapid development of the Internet and the impact of the new epidemic situation
    on the global economy, China’s time-honored brands not only usher in rare development opportunities
    but also face severe difficulties. This paper takes Quanjude, a well-known Chinese time-honored brand
    that has existed for more than 100 years, as the research object. Quanjude is loved by heads of state,
    government officials, people from all walks of life, and tourists at home and abroad, and it is referred to
    as “the first food in China.” The five forces model, SWOT, and other strategic analysis tools to analyze the
    corporate culture and development strategy of Quanjude in detail. The results revealed it is not difficult
    to find that the advantages of Quanjude outweigh the disadvantages. With the expansion of the same
    industry, the brand characteristics of Quanjude gradually fade, and the homogenization trend begins to
    appear; consumers can more easily find substitutes in the industry, which will occupy a part of the market
    share. Quanjude’s brand, with its high popularity, and the Chinese government’s strong support for the
    development of time-honored enterprises can overcome their disadvantages and give full play to their
    advantages.

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