Marketing Planning and Research

This report focuses on developing a marketing and research plan for Old Chang Kee, a business organization in Singapore's food industry. It includes an environmental analysis, market strategy, market research, and marketing mix strategy. The main objective is to increase revenue and gain a competitive advantage.

Marketing Planning and Research

Contents
Introduction................................................................................................................................3
Environmental analysis..............................................................................................................4
Marketing Strategy.....................................................................................................................6
Market research..........................................................................................................................9
Marketing mix summary..........................................................................................................11
References................................................................................................................................12

Introduction
Marketing management has become one of the primary sources of boosting sales and profits
in a business organization. Different type of promotional strategies is used by business
organizations to attract new customers and gain a competitive advantage in the market.
Providing Quality Services is not enough in the current business environment as it is
important to communicate the specifications of product and services so that they can analyse
and compare product and services of a particular business organization with other
competitors in the market (Bagozzi, Rosa, Celly & Coronel, 2018). The main focus of this
report would be on developing marketing and Research report for Old Chang Kee. Old Chang
Kee is a business organization operating in Singapore's food industry. Majority of product
and services offered by these organization falls into the category of snack food and
beverages. This organization was established in the year 1956 and has been a profitable
organization over a period of time. This report will conductor and environmental analysis to
identify external factors that can affect the business organization. The main focus of this
report would be on developing a market research report that will include market strategy and
marketing mix strategy. In addition to the two primary research conducted for identifying the
behaviour of the customer will also be analysed in this report.
Main objective of preparing this marketing plan is to increase overall revenue and give
competitive advantage to Old Chang Kee in next financial year. It is expected that with the
introduction of marketing plan management of the company will be able to increase its
overall revenue and profitability margins. Marketing strategies of the organization will be
focused on a particular market segment i.e. senior citizen. Marketing plans of the company
will be focused on increasing the sales of the company through senior citizens.

Environmental analysis
Understanding the environment in which business organization is operating is very important
for the management of the company for developing Strategies and plans for future and day-
to-day operations. One of the best strategies to conduct environmental analysis is Pestle
analysis. It helps in the identification of different factors of the business environment that can
have a negative or positive impact on business operations. An environmental analysis can be
defined as identification and analysis of different factors generated by the external
environment that can have a significant impact on operations of the business organization
operating in such an environment (Tremewan, 2016). Advantages of using environmental
analysis-
 Management of the company can easily identify threats that can have a negative impact
on business operations with the help of environmental analysis.
 Management can also identify opportunity factors that can help in future growth and
development.
Pestle Analysis
Political factors
Singapore is a democratic country and
leaders are selected by the general public
through elections.
Political risk in this country is very low as
compared to other countries on this
continent.
There are some limitations to the right of
free speech for the opposition party in
Singapore which creates a certain level of
political risk (Yeung, 2017).
Economic environment
Singapore is a free economy and it is
developing at a study rate over the period of
time.
Out of the Association of Southeast Asian
nations, Singapore has the highest per capita
income that shows that the economic
condition of this country is strong.
Business environment of Singapore is
corruption free that helps in internal and
external development of economic.
Social factors
Tradition and cultural values are given
higher importance in all the countries in the
Technological factors
Technology and the internet have played a
very important role in the growth and

association of southeast Asian countries.
Literacy rate in this country is very high and
it is compulsory for everyone to get enrolled
in primary schools with regular attendance
(Chong, 2014).
The importance is given to Chinese and
English language in Singapore which will
be helpful for the development of business.
development of the business sector in
Singapore.
Over the period of time E-Commerce
business is spreading widely in the business
sector of this country (Chiu, 2018).
Government organizations are also moving
towards the internet era.
Legal environment
There are various legislature is applicable to
a business organization that is required to be
followed by compulsorily.
Majority of these rules and regulations are
developed that helps in long term growth
and development of the business sector.
Environmental factors
Ministry of the environment has established
the various anti-pollution legislature that
helps in controlling air quality and other
environmental factors.
Pollution is spreading rapidly in urban areas
and it will definitely result in stricter rules
and regulations for manufacturing
organizations (Sidhu, Ho & Yeoh, 2014).
On the basis of a macro environment analysis it can be said that the factors will not have any
kind of negative impact on business operations of any business organization operating in food
and beverage industry including Old Chang Kee. There is a stability in political and
economic environment that will help the business organization to grow in future.
Micro environmental factors
SWOT analysis can be used for analysing the internal factors that are affecting business
operations-
Strengths-
 Network of retail stores in organization is very large that helps in reaching customers
at different places.

 Customer base of this organization is diverse
 Quality of product and services offered to customer are better as compared to other
competitors.
Weaknesses
 Management is not to focus on risk management as there is no risk management
committee.
 Use of Technology has been Limited as organization is labour intensive.
Opportunity
 Number of storage can be increased as financial resources available with the
organization are high.
 Demand of product and services in food industry increases on a regular basis,
therefore it can be said that market is expanding regularly.
Threats
 Level of competition in this market is very high which will affect profitability as price
cannot exceed the prices charged by competitors.
SWOT analysis of this organization clearly states that there are some weaknesses of Old
Chang Kee but management has enough resources to take utmost advantage of the available
opportunities. Focus of this organization should be on using technology to increase
productivity of the organization with cost efficiency.
Competitor analysis
Level of competition in this market is very high and there are various other organizations
operating in this industry. Main competitors of Old Change Kee in Singapore are Bengawan
Solo, Breadtalk, Polar Puffs and Cake, Prima Deli and bakeries. Out of these competitors
Polar Puffs and cakes would be the primary competitor of Old Chang Kee.
Strengths-
1. This organization has been operating in this food industry for a long period of time.
2. Customizable food items are available that increases the popularity of these products
and services in market.

Weaknesses-
1. This organization has individual kitchen at each of their outlets that increases the cost
of production.
2. Business operations are highly dependent on availability of suppliers.
On an overall analysis it can be said that competition level in this industry will definitely
have negative impact on business operations of Old Chang Kee.
After analysing macro and micro environmental factors it can be said that the level of
competition in this market is very high and introduction of a new business organizations can
have negative impact on profitability and revenue of Old Chang Kee. This is the reason that
introduction of a new market plan is very essential for increasing revenue and gaining
competitive advantage in market.

Marketing Strategy
A marketing strategy can be defined as the plans prepared by business organization for
promotions and advertisement of product and services. Importance of marketing strategy has
increased in the current business environment as it has become one of the most important
sources of taking a competitive advantage in the market. Importance of conducting a
marketing strategy are as follows-
 Marketing strategy helps in gaining competitive advantage in a business environment
which is the primary focus of business organizations operating in a competitive market
(Ng, Mao, Chen, Rajagopal & Wang, 2017).
 Pricing strategies can be developed with the help of marketing strategies.
 Overall revenue of the organization can be boosted with the help of an effective and
efficient marketing strategy.
New marketing plan for Old Chang Kee
Segmentation- Market segmentation can be defined as the process undertaken by a business
organization to categorize different customers into a particular category. This type of
categorization is very helpful in preparing strategies for intended target customers.
Geographical segmentation will be most appropriate in the food industry as categorization on
the basis of customers will be very difficult to for organization operating in the food industry.
Another important is segmentation strategy that will be used by Old Chang Kee would be
demographic segmentation. In this segmentation strategy management of the company will
be focused on categorisation of target customers on the basis of their age. Senior citizens will
be targeted for increasing revenue of the company through amendments in marketing
strategies.
Targeting strategies can be defined as the strategy adopted by the business organization to
promote goods and services in a particular market segment. There are various strategies that
can be used for targeting such as undifferentiated strategy, segmented strategy, concentrated
marketing strategy, etc. Targeting strategy is very important for a business organization as it
will help in identifying specific characteristics that will be used for developing promotional
Strategies for different segments.

The differentiated marketing strategy should be used for the purpose of developing target
markets (Wu, Huang & Chou¸2014). Target market to for this organization should be divided
into two categories i.e. corporate customers and individual customers.
Differentiation- Differentiation can be defined as the process of identifying the competitive
advantage of a particular and using such competitive advantage for promotion of goods and
services. For example, if the business organization has the best quality of a product and
services in the market then marketing and promotional strategy will be based on the quality
of a product. Advantage of using the differentiation strategy is that management will be able
to communicate the advantages of using their product and services over competitors. In the
food industry, the best method of differentiation is product differentiation. Management is
required to offer product and services which are different from other organizations in term of
teacher performance quality and design. The main focus of the organization should be on
quality as it is the most important factor considered by customers of before making a
purchase decision.
Positioning
Marketing positioning can be defined as the process of establishing a brand image among the
targeted customers. The main advantage of market positioning is that it will help in changing
the perception of customers in relation to product and services. The purchasing behaviour of
a customer can be altered with the help of Market Positioning (Catherine Henderson, 2015).
Market positioning map-

This marketing positioning map clearly shows that the quality and price of product are
considered by a business organization to position the product and services of Old Chang Kee
among customers. According to the above position in the map it can be evaluated that the
quality of product and services are high there as prices charged from the customer are not
very high as compared to other competitors in the market. This balance in price and quality
will help in gaining a competitive advantage in the industry.

Market research
This report has used the combination of secondary data as well as primary data for
conducting market research in relation to food Industry of Singapore. Primary research has
been focused on identifying the behaviour of customers in this market.
Secondary research
Market worth
According to the report issued by the department of statistics Singapore, total sales value
generated by the food industry in the month of February 2019 has been 3.3 billion (Hashim,
Ridzwan, Bakar & Hashim, 2015). Out of this total revenue, 5% revenue is generated with
the help of online selling and it is expected to increase in coming financial years.
Growth rate
On an overall analysis total revenue has decreased by 10% as compared to the month of
February 2018 and it has a decreased by 1.5% as compared to January 2019 (Catherine
Henderson, 2014). On the basis of this trend, it can be said that the total revenue from this
industry is expected to decrease in the near future. Business organizations are required to
change their operation strategy to make sure that this industry moves forward towards growth
and development.
Target audience
The target audience of this report issued by the government of Singapore is all the business
organizations that are operating in the food and beverage industry of Singapore.
Primary data
A detailed questionnaire was developed for the purpose of evaluating the behaviour of
customers in this market towards product and services offered by Old Chang Kee.
Questionnaire findings
Target audience demographics- Out of a total of 8 respondents of the questionnaire, sex
worker male and two were female audience. In addition to that, all the respondents belong to
different age categories that range from 18 years to 64 years. Majority of these respondents
are living in the Northeast for 6 to 15 years (Quinlan, Babin, Carr & Griffin, 2019). On the

basis of this demographic, it can be said that this sample is an appropriate representative of
the total population. It can be said that to an analysis done with the help of the sample will be
beneficial for achieving the overall goals and objectives of the research.
After evaluating the result of the questionnaire, it can be said that one of the primary factors
that should be considered by the management of Old Chang Kee world development of their
product and services is quality (Flick, 2015). In addition to that brand value is also
purchasing behaviour of a consumer in a significant manner, therefore management should
also focus on developing the brand image of the company in promotion advertisement
strategies.
Focus Group interview finding
After conducting overall analysis of the primary data following conclusions can be made-
 Majority of respondents have stated that they will go for a healthy option while choosing
food and beverage options, therefore it is important for the management to include the
healthy option in their product and services. Customer behaviour is changing rapidly to
word eating healthy options as compared to fast food. Similarly, nutrition core value of
food products is also considered in food consumption (Kumar, 2019).
 spring social media is also playing a very important role in choosing product and services
for consumption in the food industry, social media marketing is important to step that will
help in the promotion of goods and services by Old Chang Kee.
 Brand valuation is also an important factor identified in this report as the brand image is
considered by customers before purchasing the product of a particular food company. 3
out of 5 respondent has said that they are loyal towards the brand of Old Chang Kee,
therefore it can be said that management has been able to gain customer loyalty about the
period of time (Mackey & Gass, 2015).
 Four out of five respondents have said that they prefer to use product and services offered
by Old Chang Kee over other products available in the market.
 Out of 5 respondents has also provided that other people in their lives influence the
decision of selecting a particular brand, therefore it can be said that word of mouth
publicity is an important to factor for growth and development in the food industry
(Silverman, 2016). Word of mouth publicity can only be developed by providing good
quality of product and services.

On an overall evaluation of this primary and secondary data research, it can be said that the
position of Old Chang Key in Singapore Food Industry is strong.
Marketing mix summary
Following are the important elements of marketing mix-
Product- First of all management is required to analyse the product and services offered to
customers in order to make sure that they are in accordance with their needs and
requirements. For improving marketing strategies management of the company will be
required to make changes in some of the products and services by the company. Augmented
product strategy should be used by business organization to provide additional services to its
customers. It is would be in line with current marketing strategies to include healthy products
and services
Pricing- Pricing should be in accordance with pricing strategies adopted by other competitors
in market. Quality of product and services similar as compared to competitors and price
should not be higher than competitor. Prices of the products and services that already sold by
management of Old Chang Kee should be priced in accordance with the quality of products
i.e. prices can be higher than competitors such as Prima Delhi and Polar Puffs & Cakes if
quality of products and services is higher (Khan, 2014). In addition to that pricing strategy of
penetration pricing should be used by management for health products and services that are to
be introduced in market.
Place- Place can be referred as the location from which business organization is selling its
product and services and it should be accessible to customers easily. Place of promotion is
also an important factor that will help in increasing profitability of the company. Main focus
for marketing team of Old Chang Limited should be promoting the new healthy food and
beverages in old age homes as senior citizens are considered as target market in this
marketing strategy.
Promotion- Promotion request to the promotional strategy that will be adopted by the
organization for promotion of their product and services. This element of marketing mix will
be discussed in detail. According to the new marketing strategies of the company, main focus
would be on increasing the market share through selling products and services to senior

citizens. For this purpose personal selling techniques should be adopted for contacting old
age homes. For existing target market, Old Chang Kee should use TV Advertisement and
social media advertisement (Chumaidiyah, 2014). Main focus should be on social media
advertisement as it is more cost efficient and more effective in current business environment.
Detailed strategy for one element of marketing mix
There are different factors that are considered while deciding the marketing mix for a
business organization but this report will be focused on promotional strategies identified by
Old Chang Kee. Promotional strategy factor of the marketing mix will help in deciding the
promotion strategy that will be used by business organization for the promotion of its goods
and services. There are different promotion strategy that can be used by the management of
Old Chang Kee such as-
Social media marketing- in the current business environment social media marketing would
be the most appropriate strategy as it has characteristics of mass communication. The primary
advantage of this methodology is that it is very cost efficient as compared to other
promotional strategies such as direct marketing or person marketing.
Salesperson- corporate customers should be attracted with the help appointment of
salesperson at different location of the company (Chernev, 2018). The sales person will be
responsible for contacting the head of business organizations that required food sold by the
business organization on a regular basis. Management should be focused on corporate
customers such as hotels and airlines.
Public relations- maintaining an effective and efficient relationship with target customers is
also an important factor that can contribute to boosting sales revenue of the company. This
can be done by providing a different kind of discount and rebate offers on a regular interval
of time at different retail stores.
Personal selling- sales representatives should be appointed by the business organization story
of the company which will help in providing information about different food products
offered by the company (Baker, 2014).

Control
Control refers to the strategies adopted by business organization to ensure that all the
business activities are conducted in accordance with the planning. In the given scenario
performance evaluation will be a important to control measure in order to identify impact of
marketing strategies on financial performance of the organization.
Implementation- For the purpose of implementing performance evaluation controls it is
important to identify key performance indicators that well help in evaluating the performance
of the company. Actual data at the end of financial year will be compared with the key
performance indicators to make sure that plans are executed with efficiency and
effectiveness.
Metrics
Financial metrics that will be used for evaluating performance of the company would be as
follows-
Monthly revenue- Primary objective of evaluating monthly revenue would be to analyse
increase in sales due to marketing activities.
Gross profit and net profit- this will help in identifying improvements in profitability
situation.
Break even analysis- Break even analysis will help in identifying the number of days required
by business corporations to recover fixed and variable cost.
Contingency planning- If none of these financial metrics are able to identify the financial
performance of the company then ratio analysis will be used in order to identify the trend of
financial data as compared to previous accounting periods.
Reflective statement
According to the feedback received on the current marketing plan, there is a requirement of
making certain changes to improve the marketing plan for Old Chang Kee. These changes in
the marketing plan will help the business organization to attract a particular category of
customers rather than focusing on all the potential customers. Focus on a particular category
of customers will help in establishing specific strategies.

As it is suggested that there is a requirement of selecting a particular target market before
preparing strategies for the development of promotional strategies. Changes to be
incorporated in the original marketing plan would be as follows-
Market segmentation- Market segmentation will be in accordance with the demographic
characteristic of the age. All the potential customers will be divided into different age groups
and it will help in identifying the target market of senior citizens. The main focus of Old
Chang Kee would be on attracting the senior citizens as this market is not explored by any
other competitors in the food and beverage industry. A major focus of all the competitors is
on younger generations but there is a huge market of senior citizens that can result in
effective and efficient profits and revenue for the company.
Differentiation strategy- Differentiation strategy for establishing unique characteristic of
products offered by Old Chang Kee would be to the quality of the product. The target market
of the new strategy is senior citizens and it is very important for this category of customer to
ensure that the quality of the product is in accordance with their needs and requirements. In
addition to that introduction of healthy products will also help in providing a value
proposition to this organization as a target market will be interested in the consumption of
healthy product rather than consuming only fast food.
Market Positioning- Current market positioning of Old Chang Kee should continue to operate
in case of selected market segmentation. Currently, focus of the organization is on
maintaining the quality of product at reasonable prices and Market Positioning is undertaken
accordingly. Similar market positioning will help in attaining the attention of the target
market.
Market research- Market research will help in understanding the needs and requirements of a
new customer target market as product and services are required to be altered in accordance
with the needs and requirements of senior citizens. For this purpose management of the
company can conduct market research in old age homes and any other areas where data can
be collected from senior citizens. The main focus of the questionnaires and service should be
on understanding the needs and requirements of senior citizens from a business organization
operating in the food and beverage industry. This market research will also help in
establishing a specific marketing and promotion strategy to attract senior citizens.
Promotional strategies –

Promotional strategies that will be helpful in attracting senior citizens would be as follows-
Understanding the criteria of decision making- First and foremost management of the
companies required to understand the criteria on the basis of which they make decisions
before purchasing a particular food product. in this analysis, it is identified that senior citizens
do not focus on any specific brand or price of a product before making a buying decision. The
main focus of this category of people is on their health and quality. Therefore Old Chang Kee
is required to focus on the quality of a product and introduction of healthy products in the
market.
Changing the infrastructure of stores- the infrastructure of food retail outlets of Old Chang
Kee are also required to be changed in accordance with the facilities to be provided to senior
citizen. All the sources should be wheelchair accessible and comfortable space should be
available for a senior citizen to sit down and consumed their food. In addition to that, there
should be a facility of free home delivery specifically for senior citizens as senior citizens
might not be able to attend the Old Chang Kee retail store on a frequent basis. Frequency of
purchase by senior citizens at these stores will increase significantly with the introduction of
a free home delivery service.
Personalized experience- One of the most important strategies that will help in the attraction
of this target market is providing a personalized experience rather than computerized. Retail
stores of Old Chang Kee should have waiters and waitresses that will attend senior citizens
and take their orders. Senior citizens might not be comfortable to order food online for which
management is required to also initiate the process of ordering food on the telephone.
Controls- All the controls established in previous marketing plan was sufficient but there is a
requirement of analysing the profitability of the company contributed from senior citizen
market. management of the company can evaluate this profits through including a particular
narration in transaction processing which will help in identification of order that are made by
senior citizens.

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