老曾记 市场研究报告

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1、MarketingProjectNovember42011Iwrotethis,butfeelfreetoeditit.PreparedbyTeeJiaRongChoSungHyeAnandrajYunJiaoYanJunExecutiveSummaryStartedin1956asasmallstall,OldChangKeehastransformeditselfintoasuccessfullocalbrandthatisbestknownforitscurrypuffsandotherfried-fingerfood.Itsgrowthintheindust

2、rycancertainlybeattributedtoitsvarioussuccessfulmarketingstrategiesthroughtheyears.GiventhedynamicnatureoftheF&Bindustry,OldChangKeehastoconstantlyadapttothechangingenvironmenttoremaincompetitive.Withtheincreaseincompetition,OldChangKeehastoreviewitsmarketingpoliciesandfocusonitscoreco

3、mpetenciestomaintainitsbrandimagetobesynonymouswithtradition.ThisreportseekstohighlightandanalyzethecurrentmarketingstrategyandmixesthatOldChangKeeisemployingbasedonthecompany’sintendedcustomeranalysisandsegmentation.ThiswillbedoneusingthePESTELframework,Porter’sFiveForces,andSWOTanaly

4、sis.Inaddition,thereportwillidentifyareasthatOldChangKeecanimproveonandproviderecommendationswithrespecttoitsmarketingobjectives.Theresearchdatawasgatheredfromonlineannualreports,websitesandaninterviewwiththeCEOofOldChangKee,MrWilliamLim.Usingamacro-environmentalanalysis,ithasbeenident

5、ifiedthatOldChangeKeehastoconstantlyintroducenewproducts,whilemaintaininglowpricestoremaincompetitive.Inkeepingitspriceslow,ithastointegrateITintoitsproductionsystemaswellastodiversifyitssourcesofrawmaterials.ThisisfurthersupportedbyPorter’sFiveForceswheretheintensityofrivalryandtheava

6、ilabilityofsubstituteproductshavebeenidentifiedtobethemainconcernsforOldChangKee.Duetoitslowmarginalprofit,providingpricepromotionsmaynotbefeasibleforOldChangKee.Therefore,itisrecommendedthatmovingforwardOldChangKeefocusonitsAdvertisingandPublicRelationstoreachoutfurthertoconsumersandi

7、mprinttheirbrandnameintothemasses.Thiscanbedoneviaconductingentrepreneurialtalksinschoolsaswellascreating‘promotioncards’toengagepublicparticipationwhilecreatingtheopportunityforthemtotryawholerangeofproducts.2.CompanydescriptionOldChangKeeisanestablishedcompanyinSingaporeF&Bindustry