In a case study, Professor Wei Tian from Fudan University School of Management invited Mr. Wang Liansheng to share his story in founding Gufang, a brand famous for its dark muscovado sugar made with techniques practiced by local farmers for 1200 years.
In 2009, Wang noticed a hand-made dark muscovado sugar which is so much superior to the industrially produced brown sugar in taste and function. He quickly accumulated data and established industrial standards for this handcraft. Professor Wei observed that Wang’s experience showcased how essential it is for entrepreneurs to find the gap in the market, establish barriers for competitors, and ensure consistent quality.
Due to more refined production methods and choice of raw material, Gufang sugar is ten times more expensive than the brown sugar. However, Wang sought to target young Chinese women who believe in the health benefits of dark muscovado sugar during menstruation. Professor Wei pointed out that consumers are willing to pay for the added value if their needs can be accurately met.
Moreover, Wang has been selling his product on the most popular Chinese internet platforms like Tianya, Taobao, RED, and TikTok, which is praised by Professor Wei as one of the earliest examples of fan economy and internet marketing.
