2. Environment Analysis
2a. Macro-environment factors
Singapore Being a member of Association of Southeast Asian Nations (ASEAN) and Asian Pacific Economic Cooperation (APEC) (CIA World Fact book, 2011). Has help businesses pay less import tariffs or custom duties.
The low crime rate and strong police force in Singapore (Singstats, 2013) is safe for long hours operation, while legislation under Agri-Food and Veterinary Authority of Singapore (AVA) determine the equality of food served to customers, and issuing licence to handle food are the policies that must be followed.
Singaporeans is also more health conscious due to active health awareness campaign by Health Promotion Board (HPB). Technological such as genetically modified food (GM foods or biotech foods) are foods produced from genetically modified organisms might affect the quality of the ...view middle of the document...
RBH’s competitive advantage against competitors is to maintain the high standard and taste in beancurd production by using high qualities ingredients, developed new flavors and differentiate by selling only traditional beancurd.
3. Marketing Strategy
The overall strategy and objective is to analyse the current external and internal situation and must be relevant to the direction of the company.
3a. Marketing Objectives
The primary objective of Rochor Beancurd House is to expand and defend distribution to retain existing customers and acquire new customers and the secondary objectives are to improve the quality of goods and services and increase output or speed of new product development.
3b. Financial Objectives
Rochor Beancurd House targets the revenue growth by 10% yearly by keeping the cost of goods low, build good partnership with suppliers, and improve production efficiency. The target is to increase 20% of the market shares in Singapore by end of 2014.
3c. Segmentation, Positioning, and Target Market
RBH segments its customers into demographic such as age, gender, income and ethnicity. The core targeted age group is 10-15 and 30 years old onward are the targeted age group, for segmenting by behavior, Rochor Beancurd House’s customer are usually moderate users as it also belongs to a type of slow food as it is using fresh raw ingredients to produce. The targeted market will be several customer groups with different product needs.
4. Marketing Research
4a. How Group Presentation 1 and 2 Feedback Help to Deal with Marketing Plan and Research Report
The feedback given for both presentations 1 and 2 were useful. Some of the key points that are left out are being highlighted. When other groups do their presentation, we can also learn from them. In presentation 2, our group received positive feedback on setting the marketing objective by prioritising them into primary and secondary objectives. However, one of the details that we left out was not able to quantify the objectives that we wanted.