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Factors Contributing The Success Of Yeos Industry Marketing

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Added on  2021-02-22

Factors Contributing The Success Of Yeos Industry Marketing

   Added on 2021-02-22

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Project Brief In this project proposal, we should have a greater understanding of Yeo’s as a business entity through its direction to their business strategy. We might also explore on the factors that contributed on its performance and achievement as a business enterprise. Through this, we should have a clearer picture on the development and operation of the company in its first joint project including Malaysia, Hong Kong and Australia. Company Description Yeo Keng Lian, the original founder who set up a shop in 1901 and named Hiap Seng which was later changed to Yeo Hiap Seng it is also known as Yeo’s, a recognized food and beverage supplier and manufacturer in Singapore, with the products that were sold across more than 55 countries worldwide. The company has also diversified its goals and objectives in the development of property as well as in the building of condominiums and landed properties. In the 1990s, the ownership of Yeo’s was transferred to the Far East Organization (Ng Teng Fong). The company also has a global network that includes the Asia-Pacific, Europe, North America as well as Oceanic regions. Product / Service Factors With its increasing popularity, Yeo’s has begun to expand to include more diversified food and beverage products under the Yeo’s brand. Starting with the traditional soybean milk, a preferred choice among the locals, has been very well received and has since expanded its catalogues to produces many other Asian beverages. In the later years, the company also chose to expand its food choices, which includes chili sauce, culinary sauce, and sesame oil to instant noodles. Market rivalry is not only solid, it is also growing more intense from year to year. These advancements explain the recent talk of ‘marketing battle’ and ‘competitive intelligence system’. That is because the market has become so competitive that customer awareness is no longer sufficient. Companies should start to pay close attention to their adversaries. It would seem like a straightforward job for a company to identify its rivals. However, the scope of the company’s existing and potential competitors is much wider. A company is more likely to be ‘buried’ by its latent competitors than by its existing competitors. Environmental Factors The SWOT analysis Strength - For decade, Yeo’s has become a well-known and trusted brand in the food and beverage industry. They have a large team of employees working on their service and products for consumers, transforming customers demands by providing more distinct flavours and variations of their production lines. Efforts have been made to promote and advertise their products and services in both international and regional, such as advertisements and events.
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