Factors Contributing The Success Of Yeos Industry Marketing Essay

Determine the current opportunity and threats for Yeo’s and to analyse on how these factors would contribute to the success of Yeo’s in the F&B industry.

Overview on Yeo’s company

It is a brand synonymous with traditional South East Asian cuisine & authentic Asian beverage with over a hundred years of history in Singapore and a home-grown brand that enjoys accolades of awards.

Yeo’s has developed to be a recognized brand locally and internationally with a reputation for excellence and a complete understanding of consumer needs with winning portfolio products. Yeo’s is also expanding together with its business partners, well into the market of Asia and the world in the millennium and beyond.

Yeo Hiap Seng is a public listed arm of FAR EAST ORGANISATION, which is affiliated to the Sino Land Group.

About Yeo’s

History & heritage

Yeo’s was once a little shop in China making soy sauce out of Zhangzhou, Fujian Province. It was founded by Mr.Yeo Keng Lian in 1990, the Yeo’s family laboured hard to ensure that the products they offered was the highest quality and a belief that was vividly upheld till today.

Yeo’s was once a little shop in China making soy sauce out of Zhangzhou, Fujian Province. It was founded by Mr.Yeo Keng Lian in 1990, the Yeo’s family laboured hard to ensure that the products they offered was the highest quality and a belief that was vividly upheld till today.

The Yeo’s family brought the business to Singapore in the 1930s by setting up Yeo Hiap Seng sauce factory. The business flourished as the soy sauce grew to become many Singaporean’s favourite companion in their daily cooking. With the gaining popularity, Yeo Hiap Seng expanded into more diversified food and beverages. Apart from the traditional soy bean drink which a hit favourite for many locals, the company also produced a series of Asian traditional beverages made from natural ingredients and herbs. It also produced a wide range of products like chilli sauce, soy sauce, culinary sauce, sesame oil to instant noodles.

The products innovation has been a key focus for Yeo Hiap Seng as the company was the first to offer canned curry chicken. And it was also the first in the world to package its Asian drinks in Tetra Brik aseptic containers using UHT (Ultra-High-Temperature) process. Award-winning products like Yeo’s Ice Green Tea & Pink Dolphin and the range of out-of-world Y-Generation drinks with creative flavours are also well received in the highly competitive market.

Today, with direct operation in Singapore, Malaysia, Indonesia, Hongkong, China, Canada, US and other parts of the globe, Yeo’s has grown into a successful food & beverages group of companies with an international presence. And although the company has grown into a world-class conglomerate from its soy sauce making days, one thing that remains is its products will continue to offer products of the highest quality, in order to bring the best value to the consumers.

Vision, Value & Mission

Vision

To become a market leading food & beverages company with a global reach.

Value (BUILD)

Business excellence – Embracing excellence & innovation the business.

Unity – Working as one team.

Integrity – Honest & having fairness always.

Loyalty – People & Customers focus to earn loyalty.

Diligence – To have pride, passion, hard work & dedication are the hallmarks of the Yeo’s employees.

Mission

To provide customers with high quality and best value products through the constant pursue of innovation and excellence.

Milestone

Year 1900

Yeo Hiap Seng originated from a small scale proprietorship making soy sauce in Zhangzhou, Fujian Province (China) by founder Mr.Yeo Keng Lian.

Year 1935

Yeo Hiap Seng’s factory was established as a partnership business in Singapore with a capital of S$150.

Year 1950

Yeo Hiap Seng started producing food & beverage products in addition to soy sauce under the Yeo’s brand. In 1950, Yeo Hiap Seng was also the first to develop canned chicken curry.

Year 1953

Yeo Hiap Seng pioneered the bottling of soy bean milk and chrysanthemum tea.

Year 1955

The business expanded quickly and it was incorporated as a private limited company.

Year 1967

Yeo Hiap Seng was the first in the world to package its Asian drinks in Tetra Brik aseptic containers using UTH process. And by late 1960s, Yeo’s has carried a wide range of food & beverages from different kind of sauces and instant noodles to Yeo’s Asian drinks.

Year 1969

Yeo Hiap Seng Limited was listed on the stock exchange of Singapore.

Year 1975

Yeo Hiap Seng (Malaysia) Berhad was listed on the KL (Kula Lumpur) stock exchange.

Year 1998

Its company relocated to 3 Senoko Way in February 1998.

Year 2000

Yeo’s Ice Green Tea and Pink Dolphin clinched two top trends and innovation awards at SIAL 2000 (Salon International de L’alimentation) in Paris.

Year 2001

Yeo’s 8 Treasure Tea has won the New York festival bronze medal & John V seller advertising award.

Year 2002

Yeo’s was conferred the People Developer Standards award by Singapore’s productivity and standard board.

Year 2003

Yeo’s unveiled a new range of Y-generation drinks with creative flavours with vibrant looks and hip logo to embrace the younger consumers.

Year 2004

For the first time, Yeo’s lent its support to Singapore’s soccer league as co-title sponsor of the NTUC income.

Year 2005

Yeo’s & H20 won the Reader’s Digest super brand gold award for soft drinks & sport/energy drinks category. And to target the health conscious consumers, drinks like Chrysanthemum tea light with 40% less calories and 100% juice range was introduced. Those drinks are endorsed with the healthier choice symbol from the HPB (Health Promotion Board) in Singapore.

Year 2007

Yeo’s has successfully launched the Asian drinks and ready to drink tea in convenient PET 500ml packaging to reach out to the younger set of consumers. This includes different type of flavours of drinks like Iced Winter melon Tea, Sugar cane, Lemon barley, Lychee, Green tea, Peach tea and etc.

Commitments

Yeo’s brand bears the hallmark value of superior quality which uses finest ingredients and manufacturing under stringent methods and complying with the international food processes standard.

Its well structured & innovative team of Research & Development have also worked tirelessly to product development, seeing through every changing need of the consumers and breaking into new tastes and varieties. As a result, a wide range of quality Asian products with wholesome goodness and great taste extending from Asian drinks to food products.

Yeo’s is also aided with direct manufacturing facilities in Singapore, Malaysia and China with the ability to meet the world’s demand, handling hundreds of different products and packaging in the most efficient manner. For quality part, the company applies international method of quality assurance such as the HACCP (Hazard Analysis & Critical Control Point) to control all potential hazards on the food manufacturing processes. And all these has equipped Yeo’s an excellent combination of efficient production and packaging methods that meet the highest standards.

Yeo’s in locally

Overview

Yeo’s has been a trusted brand known to many Singaporeans and has always been popular with the local consumers. Its company has the understanding of the local taste and needs by providing wide range of foods & beverages to cater to consumer different taste profile.

Local brands & products

Asian drinks

Chrysanthemum Tea

Lemon Barely Drink

Winter Melon Tea

Logan Red Date Drink

Grass Jelly Drink

Sugar Cane Drink

Lychee Drink

Bandung Rose Drink

Soy Bean Milk

Culinary sauces/paste/condiment

Satay Sauce

Szechuan Kung Po Sauce

Black Pepper Sauce

Sambal Oeleck Sauce

Black Bean Sauce

Sweet Sour Sauce

Hot Bean Sauce

Hoi Sin Sauce

Plum Sauce

Mee Siam Paste

Nasi Goreng Paste

Laksa Paste

Chilli/Tomato sauce

Oyster sauce

Sesame oil

Canned/Jar food

Chicken Curry

Singapore/Malaysia Curry Sauce

Beef & Mutton Curry

Singapore Curry Gravy/Malaysian Curry Powder

Rendang Beef & Chicken

Anchovies in spices

Sardines in tomato sauce

Baked Beans in tomato sauce

Fish with salted black bean

Processed peas

Minced prawns in spices

Salted & Sweet soy beans

Nonya/original spread

Pandan spread

Kaya spread

Coconut spread

Food products

Instant Noodles

Vermicelli

Yeo’s in globally

Overview

Yeo’s in globally its introduced their foods & beverages products to everyone and all products are tailored to suit every taste. In an effort, Yeo’s step up their effort in packaging and localization of the product range & flavours. It has since been well received by the locals in the countries.

Global brands & products

US & Canada

(Asian Drinks & Ready to drink Tea)

Packaging – 250/300ml/330ml/480ml/1L

(Juice Drink)

Packaging – 300ml

(Soy Drink)

Packaging – 300ml/1L

(Culinary/Condiments Sauces)

Packaging – 170ml/250ml/375ml

(Canned/Jar food)

Packaging – 160g/150ml

UK(Europe)

(Culinary/Condiments Sauces)

Packaging – 170ml/250ml/375ml

(Food products)

Packaging – 375g

Australia & New Zealand

(Asian Drinks & Ready to drink Tea)

Packaging – 250/300ml/330ml/480ml/1L

(Juice Drink)

Packaging – 300ml

(Soy Drink)

Packaging – 300ml/1L

(Culinary/Condiments Sauces)

Packaging – 170ml/250ml/375ml

(Canned/Jar food)

Packaging – 160g/150ml

(Food products)

Packaging – 85g

China

(Asian Drinks & Ready to drink Tea)

Packaging – 250/300ml/330ml/480ml/1L

(Juice Drink)

Packaging – 300ml

(Soy Drink)

Packaging – 300ml/1L

Hong Kong

(Asian Drinks & Ready to drink Tea)

Packaging – 250/300ml/330ml/480ml/1L

(Juice Drink)

Packaging – 300ml

(Soy Drink)

Packaging – 300ml/1L

(Culinary/Condiments Sauces)

Packaging – 170ml/250ml/375ml

(Canned/Jar food)

Packaging – 160g/150ml

Malaysia

(Asian Drinks & Ready to drink Tea)

Packaging – 250/300ml/330ml/480ml/1L

(Juice Drink)

Packaging – 300ml

(Soy Drink)

Packaging – 300ml/1L

(Culinary/Condiments Sauces)

Packaging – 170ml/250ml/375ml

(Canned/Jar food)

Packaging – 160g/150ml

(Food products)

Packaging – 85g

North Asia(Japan)

(Culinary/Condiments Sauces)

Packaging – 150/250ml

Vietnam

(Asian Drinks & Ready to drink Tea)

Packaging – 250/300ml/330ml/480ml/1L

Promotions and Events in Locally & Globally

Local Promotions

Vote Your Favourite Hip Hop Move & Win Attractive Prizes 2007/8

Great Singapore Feast 2009

H-TWO-O Refuel & Win Promotion 2008

Locally

Win $888 cash as the winner of the SEPANG Challenge! 2008

Good Times with YEO’S Promotion 2008

Spend & Redeem Refreshing Iced Green Tea 2007/8

S-LEAGUE H-TWO-O ULTIMATE MOVE CHALLENGE 2008

LUCKY DRAW RESULTS: Enjoy Refreshingly Good Times with Pink Dolphin! 2007

Local Events

Mr & Miss Glow in Pink! Contest Sharing of tips on keeping healthy & attractive to Glow in Pink through blogging.

National Day Mural Competition Able to present their own project and present it to Singapore on the 45TH birthday.

Pink Dolphin “Save the Earth” Bottle Art Competition Bring awareness to students in creative ways to conserve the environment.

H-TWO-O Ultimate Dance Challenge To allow dancers to display great determination onstage.

H-TWO-O Ultimate Photography Challenge Celebrate the essence of sports and harness the unity camaraderie, strength, endurance and feeling of achievement that is in line with the brand values of H-TWO-O.

Pink Dolphin Charity Heritage Walk Participants will learn interesting stories beyond the bricks & mortar of Singapore river.

H-TWO-O Ultimate Challenge 2009 Allow participants to compete in the inaugural challenge.

Yeo’s Modern Mixes Launch Party Introducing a new twist to Singapore local favourite Asian drinks for the festive season.

Come Celebrate The Singapore Spirit with YEO’S on National Day! Enjoy in national day celebrations and enjoy free Yeo’s drinks.

GLOW IN PINK! – With PINK DOLPHIN Learn about breast cancer and support Breast cancer foundation.

Hip Hop Move Finale Party 2008 Get close with all the S-league players doing their best hip hop.

Globally Promotions & Events

(US & Canada)

University of California, Irvine (UCI) charity event.

Life Festival 2008 – Toronto, Canada.

Indo China – South Asia

(Cambodia)

Sept 07- YEO’S Skateboard Workshop in Phnom Penh drew large crowd at the local recreation centre.

(Myanmar)

There is Billboard advertisement near the Yangon Airport.

(Sri Lanka)

YEO’S participation in Kids & Teens Exhibition in Sri Lanka.

(Vietnam)

YEO’S contributed a container of Soy Bean Milk ( 2300 cartons ) to the RED CROSS in Apr 2007 for distribution to the people in the Mekong Region ( Southern Vietnam provinces ) who are affected by the typhoon at that time.

(Hong Kong)

YEO’s! 108 birthday anniversary celebration.

SWOT Analysis

STRENGTHS

Yeo’s have been a well known & trusted brand over a decade in food & beverage industry.

Yeo’s have strong team of employees working on their products for consumers, changing the need of consumers by creating more new taste and varieties in their products.

Yeo’s have made efforts in promoting & advertising their products through many ways, both locally & globally. (Eg: Promotions & Events)

WEAKNESS

Yeo’s, for their food products, they only focused on processed foods. (Eg: Instant Noodles & Canned Sauces)

THREATS

They are many same strong industry competitors such as F&N or Pokka which are also doing quite well in the industry.

More new same industry competitors are entering into the market. (Eg: Mogu Mogu jelly juice)

OPPORTUNITIES

Yeo’s is a trusted and well known brand in the F&B industry, thus it can help to continue gaining supports from those loyalty consumers.

As the economy is getting better, there will be more demands for industry like F&B. Thus, there will be more opportunities for F&B company like Yeo’s.

Conclusion

In conclusion, I think Yeo’s is a successful company in the F&B industry both in locally & globally. Its company had put many efforts into many areas like (Eg: Research & Development), to create and ensure all products are of the highest quality and provide to all consumer’s needs.

From Yeo’s milestone, Yeo’s have been making progress in their products, by coming up with more taste and flavours in their products occasionally. And constantly come up with promotions, events to promote their products and bring awareness to the consumer and this also helps to increase their business too.

Yeo’s Vision, Value & Mission is also something remarkable. Because based on the research, Yeo’s managed to have fulfil above three for their company and from personal view, I think it is because of these, it has resulted Yeo’s to become a trusted and well known company in the F&B industry today.