The founder of Nongfu Spring, Zhong Sui, has not had a good time recently.
According to reports, after his son Zhong Shuzi became an American citizen, Nongfu Spring's sales volume was nearly 90%, from one million bottles a day to 50,000 bottles today.
Although Zhong issued a statement to clarify, ** has intensified.
Many people believe that the money earned by China will eventually go to foreign countries, and who doesn't want to leave the money to their son?
Don't buy Nongfu Spring" is getting louder and louder.
Recently, Nongfu Spring's share price fell by 10%, and its market value evaporated by 22.5 billion.
Has the popular boycott paid off? Zhong is a journalist and seems to have a unique perspective on marketing.
Previously, he had won brand awareness by advertising Nongfu Spring as "nature's porter".
Nongfu Spring quickly occupied market share with clever marketing methods, beating Wahaha and Robust.
Today, it is the leader in the domestic drinking water market and can be found in almost every store. Zhong has enjoyed great success in the Chinese market, but its other major asset, Wantai Biotech, appears to be stymied.
Wantai Biotech has developed a domestic HPV vaccine and has been successful in the market. But as more similar products hit the market, its net profit plummeted. With the enhancement of domestic life science and technology strength, micro-innovation alone can no longer continue to succeed, and the times are changing.
Baiyunshan once monopolized the small blue film market, but with the emergence of other new technology products, its performance has been declining.
Time Shop has launched products such as "Double" to attract customers with advanced gameplay.
The Chinese market is flooded with new products that compete with Nongfu Spring and Wantai Biotech.
Businessmen put profit first, but entrepreneurs like Cao Dewang who support the real economy and philanthropy are more respected.
On the contrary, Chung had previously donated only 24,000 bottles of water and did not show more acts of kindness.
After the son's naturalization incident, there was an uproar, which also shows that the public attaches more importance to the sense of social responsibility of entrepreneurs.