Strengths
Mr Bean is the market leader for soya bean related food and beverage in Singapore It is a well-respected brand, clinching many awards including the Established Brands Award and the Most Popular Brand Award for the third consecutive year It has a strong market presence with 56 outlets island-wide. Only the finest ingredients and highest grade of NGMO (Non genetically modified) soya bean is used in its products
Weaknesses
There is minimal product differentiation from main competitors. Mr Bean is dependant on a main competitive advantage – the retail of soya bean products. This might hinder business diversification should the need arise It is a strong local brand but currently has no international presence
Opportunities
Mr Bean can choose to co-brand with other food and beverage businesses Mr Bean can also brand franchise to manufacturers of other goods and services It can also tap into a new international market – the emerging markets of health-conscious publics in
Asia Threats
Mr Bean will be greatly affected if there is a rise in the price of soya beans or dairy products Mr Beans’ success might lead to the potential threat of imitating competitors There might be a shift in the health-conscious market trend, causing a decrease in the demand for such products
Environment
Macro-environmental Factors (STEEP)
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Social-Cultural
– Literacy rate of 96%, making the Philippines the third-largest English speaking country in the world
– Main religion is Roman Catholicism
– Philippines has a strong snacking culture
– Food on the go is appealing to the mass market as they are generally time-poor
– Filipinos are increasingly aware of health concerns and are turning to healthy food
– 25% of the population are students who have high spending power (Filipino Kids and Their Lifestyle, 2007, sec 1, par 9)
– They are open to foreign brands
Technological
– Filipinos are relatively tech-savvy
– There is consistent growing Internet usage in Manila
According to the research group BSBC Hook UAI, there was a 21.3% increase in Internet users from 2002 to 2004 in Metro Manila (Philippines Internet and Telecommunications Report, 2009, sec 2, par 3)
– Philippines is a developing country with proper infrastructure
– Technical support for equipment in urban areas is easily accessible Economic
– GDP (PPP): USD 327.2 billion in 2008 (The World Fact Book, Philippines, 2009, sec 5, par 2)
– The economy consists mainly of agriculture, manufacturing and mining businesses
– It is aiming towards becoming a developed country by 2020
– The economy is reliant on foreign currency
Environmental
– Petrol prices and energy costs are volatile and potentially unpredictable – Local resources should meet a respectable standard and quality – Philippines is the world’s biggest producer of coconuts, and third-largest producer of bananas
Political
– Political issues in the country still exist today (eg. corruption and policy inertia) and are likely to continue. However, they will not get worse. (Philippines Risk Rating Update, 2008, sec 1, par 2) – According to PERC Ltd, Philippines has a risk factor of about 5.5 (1 being the lowest, 10 being the most risky)
