Proceedings of The 5th International Academic Conference on Research in Social Sciences
Year: 2022
DOI:
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Comparative Research on Branding Ecosystem of Traditional Chinese Medicine (TCM) through E-partnership in USA and Denmark
Song Yang , Yingmiao Jiao , Xingai Qiu2, Hong Chen, Leman Wu, Xueying Zhang, Yanping Chen, Zihuan Yue, Xiuli Chen
ABSTRACT:
With the development of technology, economy and the improved standard of living, people are caring more about mental and physical health when they must confront a treatment. Since research and development for Traditional Chinese Medicine (TCM) and western medicine is based on completely different metrics, this research aims to find a better path for TCM regarding how the proposed set of branding strategies play roles in the international branding ecosystem in the digital era. For international branding in TCM to enhance the brand performance (price) in the era of digitalization, this research looks at ways to strategize prospect, prescription, partnership, patent, place, product, professionalism, people and philosophy (indicated as10P) of traditional Chinese medicine. Through tracking the brand strategies of patent and place, this research examines the performance of TCM available at Amazon both in USA and Denmark (the strategy of E-partnership) sort by three product categories (highest to lowest price, lowest to highest price and customer review). The significance of regression on the relationship between brand performance (price) and strategies of product, patent, professionalism, people, place, partnership, etc. are analyzed. The research results prove the significant roles of place, patent and partnership. Meanwhile, the comparative research explores the similarities and differences on branding performance of TCM between USA and Denmark and the possible causes are discussed.
keywords: consumers’ behavior, digital, herbs, patent, prescription.