In the eyes of the public, the word "domestic products" often seems to be synonymous with inferior products. However, it is undeniable that many domestic products are actually inexpensive, and these brand products are also known as the light of domestic products. Golden monkey toffee is actually such a product. 10 years ago, even though it occupied the dominant position in the white rabbit toffee market, it still had a position that could not be ignored. Now it has sunk to the bottom of the sea and disappeared. Why did the golden monkey toffee become like this?

Turn yourself into a miracle

Zhao Qisan, born in 1948, has never lacked successful people in other aspects in his life. When he was young, he was not interested in learning, which led to his poor academic performance. After graduating from high school, he went to work in an electrical appliance factory in his hometown. Although his academic performance is not good, Zhao Qisan, who has been running business all the year round, has a high emotional intelligence and gets along well in the electrical appliance factory. Two years later, he was promoted to factory director.

Zhao Qisan thinks this promotion is something to celebrate. The electrical appliance factory he never wanted to take over was in debt of more than one million. For young Zhao Qisan, the high debt is not a small sum. In addition, the reform and opening up has just begun, and it is difficult for the home appliance industry to make great achievements in this environment.

In Zhao Qisan's view, eating well in the 1980s was the last word, so he made up his mind to turn the electrical appliance factory into a food factory. In this way, Fu Jeer Agricultural Machinery Factory was renamed as Shenqiu Food General Factory. In fact, Zhao Qisan doesn't know much about the food industry, but he does what he knows. With his unremitting efforts, the food factory not only repaid the high debts, but also expanded the scale of the factory.

1992, after market research, Zhao Qisan found that candy brands were on the rise. The year when Zhao Qisan founded the company happened to be the Year of the Monkey, and it was named after Zhao Qisan's favorite animal, the golden monkey.

So the golden monkey brand was born. With the mass production of candy, chocolate and other products, the golden monkey has achieved an amazing annual income of more than 20 million yuan and seized a large number of candy markets. From 65438 to 0994, Zhao Qisan moved the company's headquarters to Shanghai and integrated all the resources. By 2008, the annual sales of golden monkeys had exceeded 2 billion yuan.

Finding another way is not a shortcut. Zhao Qisan made the golden monkey create 2 billion sales, which was achieved through hard work all the way. Zhao Qisan sized up the situation, clearly understood the market, and found a way that suits him best.

Lose yourself and be forced to "sell yourself"

Zhao Qisan is a benchmark figure in the food market. Running the market all the year round is really a good way for Zhao Qisan to get rich. In fact, he can do whatever he wants. In the early years, this management method was feasible. With the development of the market, there are more and more imitators, and what the market needs most is innovation.

Zhao Qisan has been addicted to the profiteering of "imitation" and has not realized that Golden Monkey Company needs to adapt to the times and innovate. The lack of this innovative means has left a hidden danger for the future development of golden monkey. Golden Monkey Company is a classic with the slogan "Three golden monkeys are a good cup of milk". Embarrassed, it actually copied the white rabbit toffee "Seven white rabbits are a good cup of milk".

Later, he was fined 6,543,800 yuan+0,930 yuan for counterfeiting the trademark of Ferriero Company without permission. Blind imitation greatly reduced the reputation of Golden Monkey Company, but Zhao Qisan ignored it. He was addicted to his own money empire.

For the successful listing of Golden Monkey Company, he began to expand wildly. He never thought this expansion was an accident. The Golden Monkey Company was influenced by word of mouth, which led to a sharp decline in performance, failure to go public successfully, poor management and frustration in listing. At the age of 67, Zhao Qisan had the idea of selling golden monkeys.

Two years later, the crisis of Golden Monkey Company became increasingly prominent, and Zhao Qisan had to cash out the shares of the company and sell the Golden Monkey Company. At that time, Hershey Company of the United States intended to open the domestic market through the acquisition of local enterprises in China and the sales channels of state-owned enterprises. The two sides hit it off. In the end, Hershey Company spent 3 billion yuan to acquire Golden Monkey, and Zhao Qisan directly cashed in 3 billion yuan. Looking back at Zhao Qisan's rhetoric in CCTV advertisements, "casting the trump card of fine products and building a century-old shop" has failed.

With the rapid development of Golden Monkey in China, Zhao Qisan lacks flexible consciousness and blindly follows the old business strategy. In today's society, everything is developing rapidly, and flexibility is particularly important. If you can't keep up with the changes of the times, you will be abandoned by the times.

Going around has become a domestic product.

Golden Monkey was originally a family business founded by Zhao Qisan. After Hershey acquired Golden Monkey, its foreign business model was not suitable for Golden Monkey, and the company was laid off, business rules changed and "acclimatized". The decline in performance has caused the company to be unable to pay its employees. Arrears of wages have led to troubles among internal employees, and conflicts have become increasingly serious.

In order to save the crisis, Hershey has formulated a strategy to improve sales performance, with the intention of making up for the arrears of wages by shipping. Unfortunately, this practice encountered a serious unsalable market, which once again aggravated the company's crisis. At this time, golden monkeys are at home and abroad. Because the problem has not been effectively solved for a long time, Zhao Qisan's good reputation accumulated in Henan has been gradually destroyed.

Hershey's series of reforms on golden monkey have no effect, and its patience with golden monkey is running out. After being disappointed with the golden monkey again and again, Hershey felt that the golden monkey could not create market value for it, and chose to sell it back to the China market at a low price. In the end, Shanghai Golden Monkey Food Co., Ltd. was once again acquired by Henan Yuxiang Food Co., Ltd. at a market price of 200 million yuan, and "transformed" into a state-owned enterprise four years later.

Hershey ignores that Golden Monkey is a family business, and its management mode should be treated differently according to local conditions. Foreign business models are not suitable for the long-term development of family businesses. Only the right one is the best.

The golden monkey, which has been sold twice, has become a classic of domestic products, and a large part of its accumulated customer base remains. For many people, golden monkey toffee is a memory of their childhood. It still has the conditions for survival under the control of white rabbit toffee, but it is impossible to return to the peak. The future of Golden Monkey Company depends on whether it can have innovation and innovative development points.