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Marketing Plan Mr Bean Singapore .pdf



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Title: Marketing Plan: Mr Bean Singapore
Tags: Marketing plan, mr bean, singapore, mr bean singapore, mr bean SWOT , mr bean
STEEP, mr bean Market analysis, SWOT analysis, STEEP analysis, marketing plan assignment,
marketing plan assignment help
Description: If you are looking for Marketing plan on Mr. Bean Singapore, then you can check
the complete presentation here or download from
Category: Marketing Plan

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Executive Summary
The present report consists of a marketing plan created for “Mr Bean” the foremost chain
soya bean food & beverage retailer in Singapore today. The international marketing plan is
prepared for the organization for diversifying its activities and operations in the Costa Rica
market. The marketing plan contains marketing aims and objectives and benefits of products and
services of Mr Bean. The current report involves STEEP, SWOT and Market analysis of Mr
Bean in the markets of Costa Rica. The report highlights marketing strategies and other
important measures implemented by Mr Bean to market its products and services in the Costa
Rica.

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Table of Content

Contents
Background........................................................................................................................................5
Business Environment.........................................................................................................................6
STEEP Analysis .............................................................................................................................6
SWOT Analysis..............................................................................................................................8
Market Analysis............................................................................................................................ 10
Marketing Strategy ........................................................................................................................... 11
Objectives .................................................................................................................................... 11
Target Market Segment ……………………………………………………………………………………..13
Market Positioning ....................................................................................................................... 13
Product strategy ............................................................................................................................ 14
Product Characteristics.................................................................................................................. 14
Product Design ............................................................................................................................. 14
Pricing Strategy ............................................................................................................................ 14
Distribution Strategy ..................................................................................................................... 15
Promotional Strategies .................................................................................................................. 15
Implementation and control ............................................................................................................... 15
Conclusion ....................................................................................................................................... 16
References ....................................................................................................................................... 18

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Background
Mr Bean was founded by Kang Puay Seng and Loh Jwee Poh in the year 1995 and at
present is one of the leading chain soya bean food and beverage retailers in Singapore. The
company has initially started as a small stall in People’s Park hawker Centre, Singapore. The
company is a renowned retailer of Singapore. The owners of the company while visiting an
exhibition discovered a machine that could effectively produce soya products rapidly.
Considering this a big business opportunity, they build small kiosks in target areas at schools,
shopping malls, hospitals and stations (Mr Bean, 2009). As a result of good response by people
owners of the company started two more stalls, one in Marine Parade and the other in Ang Mo
Kio. The company mainly sells soya bean based products and beverages. Mr Bean provides a
range of soya bean drinks and snacks. People of all age groups enjoy varieties of ice blended
flavored soya drinks, pastries, cookies, ice-creams and many more delicious products.
The company operates a chain of retail stores through its operating organization. At
present, the company runs more than 60 retail stores (63 island across Singapore, and 2 in
Japan). Due to its popularity and fame among people of Singapore, the company received two
most precious awards which are Singapore Promising Brand Award and the Most Popular Brand
Award. The Singapore Food Manufacturers Association entitles the company with My Favorite
Consumer Brand Award. Today, the brand is so popular across the world that visitors cannot
resist themselves to bump into a Mr Bean store. The brand has no or very little direct competition
and a limited geography. The brand to interact more with customers has now moved to online
and its online portal is created to offer customers a direct brand association- from the jolly brand

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lucky charm to the application of signature fonts and colors. The company is now planning to
diversify its operations in the markets of Costa Rica to increase sales and achieve high revenue.

Business Environment
The company has been able to attract a major segment in the markets of Costa Rica and
the present marketing plans involve the development of marketing strategies for customers of all
age group. The company will adopt the same fast food concept while marketing soya products
and beverages in the Costa Rica. By making use of experience and technology, Mr Bean will
produce fresh and delicious soya products with rich nutritional value. The company will create a
visionary management team and dedication to expand successfully in the regions of Costa Rica.
The company will conduct following four analyses to understand the business environment and
preferences of people in the Costa Rica.
STEEP Analysis
STEEP Analysis stands for social, technological, environmental, economic and political
factors influencing the business and is highly considered to be one of the most efficient
analytical tools implemented by international marketers to analyze the effects of externals to the
organization. The following STEEP analysis is conducted for the Mr Bean for its operations in
the Costa Rica:
Social Factors: There is a extreme change occurs in the desires and needs of consumers in the
Costa Rica and it is necessary for the businesses associated with the soya products and beverages
to introduce changes offered by the company according to the changes in tastes and preferences
of the customers in the Costa Rica (Drummond, Ensor and Ashford, 2013). It is essential for Mr

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Beans to develop soya products according to the taste of customers along with the business
practices to remain successful in the markets of Costa Rica.
Technological Factors: There are fast changes happening in the technology. Mr Beans in order
to make minimize the overall cost of the company and to enhance sales and profits of the
company need to make huge investments in the research and development process to explore
new and innovative technologies for soya products. It is necessary for the Mr Beans to adopt new
and advanced technologies which in turn, assist in enhancing the productivity and sales of Mr
Beans.
Environmental Factors: The owners of the company believe in the art of giving and sharing. The
company believes in involving resources, efforts and most specifically hearts in providing
pleasures and happiness to those who are in need of help. Since many years, Mr Beans have
adopted many innovative and advanced efforts in terms of environment. The company has
created policies and rules in terms of recycling, eliminating waste, building environmentally
sound stores and facilities, saving the energy and water. The company use and buy renewable
energy credits to eliminate the environment footprints of its operations (McDonald, 2012).
Economic factors: As people are becoming health conscious the industry of soya products has
now become high and growing market in the world. On the basis of researches it has been
observed that people of Costa Rica have been continually including healthy and nutritional
products in their diet as a result of which Mr Beans has high chances of gaining more and more
market shares in the Costa Rica (Marich, 2009). It seems that there is high potential for Mr
Beans in the new emerging markets such as Costa Rica and other parts of the country as well.

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SWOT Analysis
SWOT analysis is tool that offers information about the strengths, weaknesses,
opportunities and threats that exist in the internal and external business environment of an
organization. It helps the business to develop various strategies and plans for cope the threats
present in the era of high competition (Reid & Bojanic, 2009). Besides this, it also aids in
developing strategies and schemes for achieving new opportunities available in the market.

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External Opportunities

External Threats

There are number of opportunities available for

Mr Beans will face various threats in the

Mr Beans, and using those opportunities will

market. This is because of the rise of

assist in expansion and progress of various

globalization, which helps the Mr Beans to

business operations.

expand its operations in Costa Rica and leads



The change in the preference of
customers towards fast-food and their





The major competitor of Mr Beans in

inclination towards highly nutritional

Costa Rica would be local and

food helps in expansion of Mr Beans in

domestic grocery stores offering a wide

Costa Rica.

range of soya products and beverages.

In addition to this, various promotional

Initially it would be difficult for the

events and online marketing activities

company to shift the focus of customers

aids in expansion of the business in

from their local products.

Costa Rica.


to an increase in the level of competition.



The other threat is the increase in the

The company also has the opportunity

marketing costs of products of Mr

to grasp the untapped market of adults

Beans, as it is difficult to operate

and sports persons in the Costa Rica by

various marketing activities in some

categorizing its products as healthy

other country in an effective and

offerings as soya products and

efficient manner in the mature markets.

beverages are high in protein and
essential fatty acids.

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