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Water purifier is a must-have daily necessities in today's family, which can effectively filter out impurities and harmful substances in the water and ensure the safety and health of drinking water. Angel Water Purification, as a leader in China's water purifier industry, has been providing consumers with high-quality water purification equipment with its professional technology accumulation and rich experience. However, in an increasingly competitive environment, Angel Water Purification seems to be unable in recent years.
The shortcomings of technological innovation hinder market breakthroughs
As an enterprise with water purification as the core, Angel Water Purification is stretched thin in terms of technological innovation capabilities, and there are obvious gaps and disadvantages compared with competitors in the same industry.
First of all, from the perspective of technology research and development investment, the investment in Angel water purification is not high. According to the 2019 annual report, the R&D expenses of Angel Water Purification are 10.5 billion yuan, accounting for 24%, while Midea Group's R&D expenses for the year were 113.4 billion yuan, accounting for 364%。In absolute terms and relative proportions, Angel Water Purification's R&D expenses are significantly lower than those of its main competitors.
R&D investment is an important support for technological innovation capabilities, which directly affects the performance of enterprises in product R&D and technological innovation. Insufficient investment in R&D may limit its technological innovation capabilities and put it at a disadvantage in the fierce market competition.
Judging from the patent application, the number of patents for Angel water purification is not much. According to the data of China Intellectual Property Network, the number of patents of Angel Water Purification is relatively small compared with its competitors, and there is also a certain gap in quality. Specifically, the proportion of invention patents for Angel Water Purification is low, which may reflect its lack of originality and creativity in technological innovation.
In addition, from the perspective of new product release, the launch speed of Angel Water Purification's new products is not very fast. According to the information on its official website, in 2020, Angel Water Purification launched a total of 6 new products, covering smart pipeline machines, smart kitchen machines, smart water softeners and other types. In contrast, other competitors are likely to launch more new products.
It is worth noting that the launch speed of Angel Water Purification's new products is lower than that of competitors in terms of quantity, and it is also relatively single in category. New product release is an important demonstration of technological innovation ability, only by continuously launching new products that meet market demand and consumer preferences, can we ensure the innovation and optimization of enterprises in the product field, as well as the attractiveness and influence in market competition.
To sum up, Angel Water Purification has obvious deficiencies and weaknesses in technological innovation capabilities, and lacks core competitiveness compared with competitors in the same industry. This is very unfavorable for an enterprise with water purification as its core business, because technological innovation is the lifeline of the water purifier industry and the key factor that determines whether the company can maintain a leading position in the fierce market competition.
The brand image is vague and facing growth difficulties
In addition to the lack of product innovation ability, another major challenge faced by Angel water purifier is that its brand image is not prominent, and it is difficult to stand out in the fierce competition.
Brand image refers to consumers' impression and perception of a company or brand, and is an important means for enterprises to attract and retain consumers. However, Angel water purifier has obvious deficiencies in brand image, and its brand positioning, marketing strategy, word-of-mouth evaluation and other aspects lack clear and distinctive characteristics, which is difficult to form differentiation and advantages with other water purifier brands.
According to the China Brand Research Institute, in 2020, the brand value of Angel Water Purification was only 16800 million yuan, far lower than competitors such as Midea, Haier and Gree.
Similarly, in terms of brand influence, Angel water purifiers are also at a disadvantage. According to iiMedia Consulting, in 2020, Angel Water's brand influence index was only 12%, while Midea, Haier and Gree are. 4% and 56%。These data reflect the ambiguity and lack of prominence of Angel Water Purification in terms of brand image.
On the one hand, due to the lack of prominent brand image, consumers' awareness and loyalty to Angel water purifiers are low, and it is difficult to form a stable consumer group and market share. On the other hand, due to the lack of prominent brand image, it is difficult for Angel water purifier to shape its own core values and cultural connotations, to convey its own product concepts and service concepts to consumers, and to establish emotional connection and trust with consumers.
Nowadays, with the increase of consumers' attention and expectations for brands, the water purifier market has shown a trend of branding, personalization, and emotion. However, Angel Water Purification did not grasp these trends, did not create a distinctive and warm brand image, but was surpassed by other competitors.
There are three main reasons for this. First, the brand positioning is not clear, and the slogan "Healthy Water Expert" does not reflect the advantages and characteristics of Angel Water Purification, nor does it clarify its target consumers.
Second, the marketing strategy is not effective, relying too much on traditional advertising and channels, and ignoring the new, social, content marketing and other methods, and failing to establish good communication and interaction with consumers.
Third, the word-of-mouth evaluation is not high. According to Tianyancha data, as of November 2021, Angel water purifiers have received a total of 120,000 reviews, of which 956% with a neutral rating of 28% with a negative rating of 16%。
In contrast, in the same time period, Midea, Haier and Gree each received 980,000, 750,000 and 540,000 reviews, of which the positive ratings are: 8% and 984%, and the winning rate is. 6% and 12%, and the negative review rate is: 6% and 04%。From these data, it can be seen that Angel Water Purification is not only far behind in terms of quantity in terms of word-of-mouth evaluation, but also inferior to its competitors in terms of quality.
From the above, it can be seen that Angel Water Purification has serious problems in terms of brand image, and needs to be improved and optimized from brand positioning, marketing strategy, word-of-mouth evaluation, etc., in order to enhance its competitiveness and influence in the market.
The single sales channel restricts market breakthroughs
Angel Water Purification's performance in the market is not satisfactory, and there is a significant gap compared with excellent brands in the same industry. First of all, Angel Water Purification has a low market share, far behind its competitors in the same industry.
According to the China Water Purifier Industry Association, the size of China's water purifier market reached 35 billion yuan in 2019, a year-on-year increase of 15%. Among them, the top five brands are Midea, Oaks, Qinyuan, Joyoung and Haier, which together account for 55% of the market share. Angel Water Purification only ranks tenth, with a market share of only 25%。
Secondly, the sales channel of Angel water purification is relatively simple, lacking diversification and innovation. At present, Angel Water Purification mainly relies on traditional offline channels for sales, such as specialty stores, distributors, and merchants. Although these channels can cover a certain range of customer groups, there are also some drawbacks, such as high cost, low efficiency, and difficult management. With the development of the Internet and e-commerce, online channels have become an important sales platform for the water purifier industry.
According to statistics, in 2019, the online sales of water purifiers in China accounted for 40%, a year-on-year increase of 25%. However, Angel Water Purification** has not invested enough in the channel, resulting in its online sales accounting for only 5%. This undoubtedly limits the market expansion space and potential customer groups of Angel Water Purification. In fact, online channels can not only reduce sales costs and improve sales efficiency, but also expand market coverage, increase market popularity, and enhance brand awareness and reputation.
Thirdly, Angel Water Purification's customer base is relatively narrow and lacks differentiated and personalized services. At present, Angel Water Purification mainly provides water purifier products and services for medium and high-end family customers, ignoring the needs of other types and levels of customers. For example, in rural areas, many farmers need to use water purifiers to improve the quality of drinking water due to poor tap water qualityIn the commercial field, such as hotels, restaurants, schools and other institutions, water purifiers are also needed to ensure water hygiene;In special fields, such as hospitals, laboratories and other places, water purifiers with specific functions are also needed to meet special water needs.
However, Angel Water Purification has a low market penetration rate in these areas, and does not provide differentiated and personalized products and services according to the needs and characteristics of different customers, resulting in a lack of diversity and loyalty in its customer base.
In fact, different types and levels of customers have their own water needs and preferences, and if we can provide products and services that suit them according to their needs and characteristics, we can increase customer satisfaction and stickiness, thereby increasing market share and sales. Therefore, Angel Water Purification should have an in-depth understanding of the needs and characteristics of customers, market segmentation and positioning, and provide differentiated and personalized products and services.
To sum up, Angel Water Purification's ability to expand the market is not strong, mainly in the low market share and single sales channels.
First, the customer base is narrow, etc. These problems not only affect the brand image and market position of Angel Water Purification, but also restrict the development potential and prospects of Angel Water Purification.
Conclusion
In general, in the torrent of market competition, Angel Water Purification is facing the shortcomings of innovation, the ambiguity of brand image and the dilemma of market expansion, and it is urgent to find a strategy to break the situation. However, Angel Water Purification has a solid professional foundation and rich technical accumulation, as long as it finds its own positioning, clarifies its brand value, and gives full play to its professional and technical advantages, it will be unique in the market competition.
At the same time, the vigorous development of China's water purifier market provides huge business opportunities for water purifier companies, which is expected to reach 50 billion yuan by 2025, with an average annual compound growth rate of 13%. In order to achieve a breakthrough in the market, Angel Water Purification needs to strengthen its innovation capabilities, enhance its brand image, expand market channels, and create a professional, high-quality and trustworthy water purifier brand.