SUSTAINABLE REPORT1 Contents Introduction.................................................................................................................................................2 Current market strategy...............................................................................................................................2 Targeting Market.........................................................................................................................................8 Positioning Map........................................................................................................................................10 Concepts, theories and Frameworks..........................................................................................................12 Recommendations.....................................................................................................................................12 Conclusion.................................................................................................................................................14 References.................................................................................................................................................15
SUSTAINABLE REPORT2 Introduction Sustainability defines the meeting of demand of present consumers without compromising the capacity of future generations to achieve the goals. Each and every company is required to offers the services to consumers by keeping in mind about the sustainability of the product(Clayton, & Radcliffe, 2018). The main aim of this paper is to discuss about the “sustainability”. In this paper, the sustainability position of Marigold Singapore Company has been evaluated. After the evaluation, recommendation will also be discussed. Marigold Singapore is a leading dairy and beverage company of Singapore. It provides the wide range of products to customers containing Marigold HL Milk, Marigold Peel Fresh, and Vitagen. It also provides the Yogurt products to customers to target the health conscious consumers (Marigold, 2019a). Current market strategy Marigold Singapore deal in a very competitive market and understanding the importance of customer demand and designing the best strategies to deal demand and earn a competitive position in the market. Present marketing strategy of Marigold Singapore contains the Research and Development department, the department made efforts to identify the internal and external factors those affecting the buying decisions of consumer. It sells daily use dairy products like milk, yoghurt, and juice of different quality and tastes(Dempsey, Bramley, Power & Brown, 2009). First step of marketing strategy in the company is to identify the changes in the consumer’s demand for the product and changes in the available competitive products in the
SUSTAINABLE REPORT3 market, than it designs its strategies to provide better quality with unique flavors and health tips to use the product in a sustainable manner. It uses digital marketing and consumer based marketing strategies to attract large group of customers. It advertise different recopies made by using the yoghurt, these recipes are healthy and tasty and suitable for the all age groups. Hence it marketing strategies are customer focused and its unique feature in itsadvertising is to use healthy diet tips to attract thehealth conscious customers, use of different flavors help it to design product differentiation strategies to deal the challenging environment of themarket (Garbie, 2015). Present activities of the organization are based on meeting the development of its products in the sustainable manner, management team including different departments form the organizationfocustomakethe policiesandprocessingof the organizationto meetthe sustainable management of tis activities, major focus of the management is to attain the social, economic, and environmental sustainability. Dairy industry deal managing the relations between thesuppliersandcustomers,thismanagementfocusonsupplyofnaturalproductafter transforming it into more healthier and in packaged form, useful healthy diet(Garg, 2015). Social sustainability Sustainability is an essential part for the entire organization dealing in the present global business environment. Social sustainability is a vast area affected by many factors from the society it operate its business. Sustainability includes the ability and efforts made by the companies to exist in the market with sustainably challenging position. Social sustainability focus on the factors theses are social inequality, social support, social responsibility, social justice, and cultural competences. Marigold Singapore had unique concept to major the impact of
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SUSTAINABLE REPORT4 its operations on the society and people. Social sustainability is a combination of company’s relationship with its stakeholders maintaining their relations to manage positive and negative impact of their activities(Hiremath, Balachandra, Kumar, Bansode & Murali, 2013). License to operate business in the environment require complete focus on its activities in the given four dimensions. These four dimensions include social and cultural life, voice and violence, amenities and infrastructure, and space to grow. Social environment of Marigold includes the stakeholders’ role importantly. These stakeholders are supplier of the raw material like dairy farmers, labors engaged in the pasteurizing activities to make the milk, yoghurt and other product useful for the consumers, shareholders investing in the operations of the company to fulfill their financial interest and the last group of stakeholders includes the final consumers. Offering the netter services to the customers is the final strep of company. All these stakeholders frame a society for the organization and these factors affect the social factors prevailing in the society. Hence, it focuses on the culture, faith beliefs and attitudes affect the consumers and product nature to attain the social sustainability without harming any social dimensions(Horlings & Padt, 2011). Economic sustainability Economic environment of a business indicate its sustainability in form its financial management to earn profitable outcomes. These financial outcomes focus to attain profit in sustainable manner. Marigold aims to become economically sustainable and profitable, economic sustainability includes proper corporate governance, risk management, and compliance. This requiresaneffectiveparticipationofallitsstakeholderstomanagethegoodcorporate governance returning the company a beneficial stable economic return. Economic activities
SUSTAINABLE REPORT5 includes the assurance of the profit earning but also focus that these activities don’t create any negative impact over the society and environment. Operating with the natural resources dairy industry is responsible to return positive return to these stakeholders. Cows and other animals are providing milk for the other product manufacturing in the Marigold hence management focus best relationship management with these stakeholders to manage the product quality(Misganaw, 2017). Pillar of economic sustainability include stable corporate governance, marigold invest its financial investment planning targeting to use the stakeholders issues and their important role in the management. Product differentiation and flavored product availability in the Marigold offer it a great profitable return. These unique features need to focus the proper economic sustainable planning to manage the risk management activities in the economic environment.(Tan, Yeo, Ng, Tjandra & Song, 2015) Ecological sustainability Environment play a very significant role in the production, manufacturing, and other activities related to the dairy industry. A company operating in the dairy and food sector need to manage its activities do not create negative impact over the environment and other ecological factors. Marigold handle relations with the suppliers providing natural material for its products, it needs to manage the positive and healthy environment for the animals, hence they can provide it the better quality material("MARIGOLD Yoghurt | Marigold", 2020). Process used by the management in the pasteurization and transforming milk into other edible products like yoghurt, cheese and recopies for these products. Pasteurization is process use techniques and machinery these impact the environment, it require sustainable management
SUSTAINABLE REPORT6 to secure the ecological or environmental balance with sustainable development. Lactic products require hygienic environment and packing of these products requires hygienic procedure and hence marigold require managing the environment in the surrounding for the processing of these products(Wang, 2016). Marigold Singapore operate and perform its production and manufacturing activities focused to manage the environmental sustainable management. Board of directors in the organization focus to meet the product differentiation and quality product to its customers, and these products focuses in the activities to meet the sustainable level to accomplish the sustainable development of its product(Tan, Yeo, Ng, Tjandra & Song, 2015). Present sustainable activities in the organization Current marketing strategies used by the organization are digital marketing, product differentiationstrategieswiththesustainablemanagementofvariousfactorslikesocial development, economic development and environmental development. Dairy industry has a great and open competition; this sector has easy entry for the new competitors hence Marigold face great challenges to meet the sustainable marketing strategies for its product. Yoghurts product it provide have very high quality and available in two qualities including zero and low fat products. Milk and juice provided by the company comes on the top position in the country hence it face a great challenges from its customer externally and internally it faces challenges to make product more attractive to manage the top leading position in the market(Wang, 2016). Following SWOT analysis will discuss its strategic competitive quality to understand its present position in the sustainable market. Internal environment of Marigold Singapore is flexibleandfullofinnerchallenges,departmentsinvolvedinplanning,controlling,and
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SUSTAINABLE REPORT7 production activities in the organization contribute to build its internal environment focus to attain its final goal of sustainable development through sustainable marketing strategies. SWOT analysis represents the following factors; StrengthWeakness Singapore has great quality of livestock producing the quality milk for other products. Marigoldcontributesinbetter environmentaldevelopmentforthe livestock to increase health and living of the animals. Milk productivity in the organisation is very high. Yoghurt available in the organisation have many flavour Product differentiation strategy is very helpful to attract new customers. Labours and management is trained and haveproperknowledgeof thedairy industry Research and Development department focusoncontinuouschangesinthe Livestockinthechangingclimate affectlife-cycleandhealthofthe breeding animals Decrease in the health lead uncertain death of the animals and cause loss to the assets of the company Poor conditions of supply channel in theorganizationaffectsupplychain management Internal management face challenges in maintaining the competitive position in the market Availabilityof cheapresourcesfrom the suppliers affect the product quality
SUSTAINABLE REPORT8 market competition Concept of providing healthy recipe to make different items from the frozen yoghurt is very unique in the market OpportunitiesThreat ProductproducedbyMarigoldhave unique characteristics hence they are becoming popular in the market Opencompetitioninthemarket facilitatestointroducecompetitive strategy Yoghurtandmilkqualityofthe organisationhas special emphasis on diet conscious young people Singaporehasavastpopulation consuming the pure milk product hence is have opportunity to become more unique in the market Highly competitive market scenario in theSingaporemaketheoperations challenging Highcostoflivestockmaintenance increase the cost of raw material Bargainingpowerofbuyersand supplierscan lead many challenges for the company Expansive grazing requirements make natural milk availability more costly More options available for the same productsleadpotentialthreatof competition Targeting Market
SUSTAINABLE REPORT9 Type of SegmentationSegmentation CategoryTarget Customers DemographicsAgeNot specific as anyone can eat 16 above consumers are targeted as targeting customers IncomeMiddle and Upper Class can afford the prices of products GenderMale, female, and others GeographicDensityPopulated area, Urban areas RegionSingapore PsychographicsLifestyleHealth Conscious customers Customers who like to eat dairy products Social ClassHigh class and middle class It is observed that the consumers of Marigold Singapore has been increases as nowadays, consumers are getting more health conscious for their health conditions. It has been seen that Marigold provides 0% of law fat product such as milk, and juice (Marigold, 2019b). The consumer who consumes these products is highly sustainable because these products do not affect the environment.It has been found that the most of the consumers of the company is health conscious due to which they always analyzed the product before buying it which depicts that they are highly sustainable. The packaging used by the company to provide the milk and yogurt products are effective as it does not affect the environment like plastic bags. The
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SUSTAINABLE REPORT10 consumers are also sustainable as they always take care of these things such as packages, quality of food and the others(Andaleeb, 2016). Positioning Map As per the above map, it is observed that Marigold is number one company in diary industry of Singapore. Meiji gives the close competition to the company in terms of high quality and trust. Meiji also provides the similar services to customers in different flavors with the high quality due to which it gives the high competition to Marigold. Marigold is Singapore no. 1 pasteurized Low Fat Milk, Pasteurized Juice and UHT Milk provider. These products of the company make it number one company in Singapore. Strategies of the organization from competitors It has been seen that Marigold Singapore implements the digital marketing strategy, research and development strategy and product differentiate strategy to achieve the objective in High Cost UnsustainabilitySustainable Low Cost F&N Magnolia Meiji Marigold
SUSTAINABLE REPORT11 the market. Digital marketing strategy of the company helps to promote the services in the market. Digital marketing strategy of the company promotes the company services in various sites such as websites, on social media applications and the others. The other companies also use the digital marketing to attract the consumers towards its services but Marigold is the company who uses it with the loyal promises. Advertisement with the high trust makes it unique and also duplicate because other companies also use this strategy. Research and Development strategy states that the company analyzes the customers demand before manufacturing it as it helps to satisfy the demand of consumers. The company provides the four flavors of Marigold recipes such as Aloe Vera, Baked Lobster, Red Berries, and Sauteed Cod that helps to satisfy the demand of consumers as these are developed according to needs and wants of consumers. The company also provides these food services with the high quality of packaging such as tetra packaging. Tetra packaging’s contributes to low carbon circular economy and it is recycled which states that it is sustainable for the society and consumers. This strategy makes it unique from others competitors. Products differentiation is another strategy of the company that makes it different from other. As per the above discussion, it has been seen that the company offers the four types of Yogurt flavors and it provides the health tips on its website, which makes it different from others. A healthy tip makes the consumers healthy and encourages them to stop using the chemical products that is harmful for them but also for society and environment (Marigold, 2019b). The different recipes and health tips makes it different from the other companies and sustainable for the environment and society.
SUSTAINABLE REPORT12 These strategies are also focuses on sustainability, which is beneficial for the company. Packaging and different recipes with the health tips represents that the company is genuinely focuses on sustainability. The satisfying demand of consumers also sustainable as the wastage of products is reduces as the customers waste the food material those are not liked by them. Wastage of food is a major issue on the earth, which is, reduces by the company with the help of research and development strategy. Comparison from competitors As compare to its competitor, it can be said that Marigold does not copy any company and always take care of consumer’s demand, which helps it to build the trust among the society. According to the analysis, it has been seen that Meiji gives the high competition to Marigold as it also provides the trust worthy goods to consumers (Young, 2017). Concepts, theories and Frameworks The concepts, theories and frameworks are applying in the organization are suitable as it helps to evaluate the sustainability. SWOT Analysis, target market and culture analysis are the concepts and frameworks that are implemented by the company to evaluate the sustainability. These models help to evaluate the strength, weaknesses, opportunity and threats in terms of sustainability that is why; it is a right choice to evaluate the organization sustainability. Target market also helps to examine the sustainability of customer. Recommendations There are three recommendations will be discussed that has been given below: Media Channels
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SUSTAINABLE REPORT13 It is observed that the company is sustainable, as it does not affect the environment, society and the others. It is essential for the company to aware the consumers in terms of sustainability so that they also take care about the products while buying it. Media Channel is the only sources that can helps to promote the sustainability. It is suggested that the company has to use the media channel to aware the consumers(Kennedy, 2016). In media channels, the company has to use the social media for promoting the sustainable products in the market. It has been seen that social media has been used by the consumers for entertainment purpose on daily basis due to which the company can aware the large number of consumer in every single minute. Apart from social media, it can also use the mobile application or mobile advertisement to spread the awareness among the consumers. Mobile are also a good entertainment device that customer always uses for their works(Goldberg, Fishbein, & Middlestadt, 2018). These media channels are beneficial for increasing the volume of sales of the company of its products and for the distribution. Target Market It has been seen that the company targeting particular customers and analyzed their demand. It manufactures the product after analyzing the demand and needs of consumers such as different flavors of Yogurt. The company has to put some changes in target market so that it can grab the high market share. It has to target the all age of consumers and has to attract the families, children with the different flavors so that they are getting attracted towards it and achieve the high success in business. Attracting these customers helps to motivate to stay healthy and fit, which affects enhance the value of sustainability in the society(Dietrich, Rundle-Thiele, & Kubacki, 2017).
SUSTAINABLE REPORT14 Product Packaging As discussed above, the company uses the tetra packs for delivering the services, which affects the environment in low level. However, somewhere it also affects the society that is why; it has to uses the different packages such as aluminum cans, paper boxes and the other those can replaceable and the products can protect in it. It is a best way to reduce the pollution and protect the eating material for consumers. It improves the sustainable report of consumers(Lindh, Olsson, & Williams, 2016). Conclusion From the above discussion, it is concluded that Marigold is one of the leading companies of Singapore yogurt product. The company also provide the different flavors of yogurt those are healthy and tasty for consumers. It has been evaluated the current market strategies of the company is product differentiation, digital marketing and research and development those are evaluated on the basis of three factors such as social, political and economic. Target market customers of the company are also sustainable while purchasing the products. SWOT Analysis has been done in order to determine its sustainability. At the end, it is recommended that the company has to use the media channels, set new targets for promoting the sustainability in the society.
SUSTAINABLE REPORT15 References Andaleeb, S. S. (2016). Market segmentation, targeting, and positioning. InStrategic marketing management in Asia: case studies and lessons across industries(pp. 179-207). Emerald Group Publishing Limited. Clayton, T., & Radcliffe, N. (2018).Sustainability: a systems approach. Routledge. Dempsey, N., Bramley, G., Power, S., & Brown, C. (2009). The social dimension of sustainabledevelopment:Definingurbansocialsustainability.Sustainable Development,19(5), 289-300. doi: 10.1002/sd.417 Dietrich, T., Rundle-Thiele, S., & Kubacki, K. (2017).Segmentation in social marketing. Springer Singapore:. Garbie,I.(2015).SustainabilityOptimizationinManufacturingEnterprises.Procedia CIRP,26, 504-509. doi: 10.1016/j.procir.2014.07.085 Garg,A.(2015).GreenMarketingforSustainableDevelopment:anIndustry Perspective.Sustainable Development,23(5), 301-316. doi: 10.1002/sd.1592 Goldberg, M. E., Fishbein, M., & Middlestadt, S. E. (2018).Social marketing: Theoretical and practical perspectives. Psychology Press. Hiremath, R., Balachandra, P., Kumar, B., Bansode, S., & Murali, J. (2013). Indicator-based urban sustainability—A review.Energy For Sustainable Development,17(6), 555-563. doi: 10.1016/j.esd.2013.08.004
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SUSTAINABLE REPORT16 Horlings, I., & Padt, F. (2011). Leadership for Sustainable Regional Development in Rural Areas: Bridging Personal and Institutional Aspects.Sustainable Development,21(6), 413- 424. doi: 10.1002/sd.526 Kennedy, A. M. (2016). Macro-social marketing.Journal of Macromarketing,36(3), 354- 365. Lindh, H., Olsson, A., & Williams, H. (2016). Consumer perceptions of food packaging: contributing to or counteracting environmentally sustainable development?.Packaging Technology and Science,29(1), 3-23. MARIGOLDYoghurt|Marigold.(2020).Retrievedfrom: http://www.marigold.com.sg/products/yoghurt/yoghurt.html Marigold. (2019a).About Us.Retrieved from : http://www.marigold.com.sg/our-company/about-us.html Marigold. (2019b).Recipes.Retrieved from : http://www.marigold.com.sg/products/yoghurt/yoghurt.html Misganaw, G. (2017). Production Potential, Challenges and Prospects of Dairy Cooperatives inAksumandAdwaTowns,Ethiopia.JournalOfDairy,Veterinary&Animal Research,5(6). doi: 10.15406/jdvar.2017.05.00165 Tan, H., Yeo, Z., Ng, R., Tjandra, T., & Song, B. (2015). A Sustainability Indicator Framework for Singapore Small and Medium-Sized Manufacturing Enterprises.Procedia CIRP,29, 132-137. doi: 10.1016/j.procir.2015.01.028
SUSTAINABLE REPORT17 Wang, L. (2016). Book review: The Singapore Water Story: Sustainable Development in an Urban City State.Urban Studies,53(12), 2675-2677. doi: 10.1177/0042098016652557 Weingaertner, C., & Moberg, Å. (2011). Exploring Social Sustainability: Learning from Perspectives on Urban Development and Companies and Products.Sustainable Development,22(2), 122-133. doi: 10.1002/sd.536 Young, P. (2017).Top 5 Yogurt brands in Singapore.Retrieved from :https://www.dairyreporter.com/Article/2017/02/07/Top-5-yogurt-brands-in- Singapore