The public Macau Institute for Tourism Studies (IFTM) said in a statement yesterday that its students have proposed a product diversification strategy to one of the city’s oldest brands.
According to the statement, the institute Visiting Assistant Professor Fernando Lourenço and his students supported Aphelion Media Limited in the first half of this year on a project to help Tong Iec Pak Fa Fui (同益百花魁), a 116-year-old brand that specialises in fruit preserves, soya sauce and vinegar, rebrand its products.
The project was based on the government’s “Macau Classic Brand” remodelling support programme.
The role of the IFTM students was to write business plans for product diversification strategies for the company in line with the newly developed brand design as proposed by Aphelion Media Limited, according to the statement.
Under Lourenco’s supervision, the IFTM students contributed their creative ideas to the project, while the theses of Hotel Management student Pyper Zhang Xiaochang and Tourism Event Management student Vanessa Long Wan Yun raised the quality of the research project, the statement said, adding that the project “indicated the importance of engaging students with the industry because benefits are mutually distributed and shared.”
This undated handout photo provided by IFTM yesterday shows the old-brand Tong Iec Pak Fa Fui (同益百花魁) in Rua de Entre-Campos in Patane district.
