INTRODUCTION Yeo Hiap Seng (Yeo’s) has now become famous with the food & beverage industryboth locally and internationally in 1990. Taking root from a small little shopmaking soya sauce to the leading home-grown food & beverage company that itis today, the history of Yeo’s is the epitome of what dreams, hard work andperseverance can amount to.Foundedby Yeo Keng Lian in Zhangzhou inthe Fujian Province of China, the small scale proprietorship was renowned forits quality product, a practice that is vividly upheld till today.
Yeo boldlyventured into foreign soil and in 1935,set up the Yeo Hiap Seng Sauce Factoryin Singapore which soon flourished and quickly expanded into Malaysia in 1940s.Yeo’s made a name for itself by being a pioneer in many aspects. Yeo’s was the first to offer cannedcurry chicken to consumers. It was also the first in the world to offer bottledSoya Bean Milk and Chrysanthemum Tea, making it convenient and readilyavailable for mass consumption. Yeo’swas also the first company in the world to package its Asian drinks intetra-brik aseptic containers using the UHT process.Fromsoya sauce to the soya bean drink, Yeo’sslowly grows into food and beverage products which included a series of Asiantraditional beverages made from natural ingredients and herbs, and a wide rangeof products from chilli sauce, soy sauce, culinary sauce, sesame oil andinstant noodles.
Having already made a name foritself in Malaysia and Singapore, Yeo’s took the bold step to establish jointventures with several foreign companies as well as establish direct overseasoperations in countries such as Indonesia, Hong Kong, China, Canada, the US andother parts of the globe.Today, Yeo’s Malaysiaserves as Global Distribution for Indonesia, New Zealand, Australia, Europe,IndoChina and the US, making it a leading food and beverage company withinternational presence.1 CORPORATE ELEMENTSLOGOSLOGAN VISIONTo be a market leading food & beverage company with aglobal reach2MISSIONTo provide our customers with high quality and best valueproducts through the constant pursuit of innovation and excellenceVALUES*Business ExcellenceEmbracing excellence & innovation in our business*UnityWorking as ONE team*IntegrityHonesty & fairness always*LoyaltyPeople & customer focus to earn loyalty*DiligencePride, passion, hardwork & dedication are the hallmarks of our peoples HISTORY Yeo’swas once a little shop in China making soy sauce founded by Mr.Yeo Keng Lian in1990, the Yeo’s family labored hard to ensure that the products they offeredwas the highest quality and a belief that was vividly upheld till today.TheYeo’s family brought the business to Singapore in the 1930s by setting up YeoHiap Seng sauce factory. The Yeo’s basically made as the soy sauce grew tobecome many Singaporean’s favorite companion in their daily cooking.
Thiscompany also produced a series of Asian traditional products made from naturalingredients and herbs. It also produced a wide range of products like chillisauce, soy sauce, culinary sauce, sesame oil to instant noodles.Theproducts innovation has always been a key focus for Yeo Hiap Seng as thecompany was the first to offer canned curry chicken. And it was also the firstin the world to package its Asian drinks in Tetra Brik aseptic containers usingUHT (Ultra-High-Temperature) process. Award-winning products like Yeo’s IceGreen Tea & Pink Dolphin and the range of out-of-world Y-Generation drinkswith creative flavours are also well received in the highly competitive market.
3 PRODUCT LIST Yeo’s In LocallyYeo’s has been a trustedbrand known to many Singaporeans and has always been popular with the localconsumers. Its company has the understanding of the local taste and needs byproviding wide range of foods & beverages to cater to consumer differenttaste profile.Local brands &productsAsian drinks, ChrysanthemumTea, Lemon Barely Drink, Winter Melon Tea, Logan Red Date Drink, Grass JellyDrink, Sugar Cane Drink, Lychee Drink, Bandung Rose Drink, Soy Bean MilkCulinarysauces/paste/condiment, Satay Sauce, Szechuan Kung Po Sauce, Black Pepper Sauce.Sambal Oeleck Sauce, Black Bean Sauce, Sweet Sour Sauce, Hot Bean Sauce, HoiSin Sauce, Plum Sauce, Mee Siam Paste, Nasi Goreng Paste, Laksa Paste, Chilli/Tomatosauce, Oyster sauce, Sesame oil, Canned/Jar food, Chicken Curry, Singapore/MalaysiaCurry Sauce, Beef & Mutton Curry, Singapore Curry Gravy/Malaysian CurryPowder, Rendang Beef & Chicken, Anchovies in spices, Sardines in tomatosauce, Baked Beans in tomato sauce, Fish with salted black bean, Processed peas,Minced prawns in spices, Salted & Sweet soy beans, Nonya/original spread, Pandanspread, Kaya spread ,Coconut spread, Food products, Instant Noodles, Vermicelli.4 Yeo’s In GloballyYeo’s in globally itsintroduced their foods & beverages products to everyone and all productsare tailored to suit every taste.
In an effort, Yeo’s step up their effort inpackaging and localization of the product range & flavors. It has sincebeen well received by the locals in the countries.5Global brands (1) US & Canada(Asian Drinks & Ready to drinkTea)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(2) UK(Europe)(Culinary/Condiments Sauces)Packaging -170ml/250ml/375ml(Food products)Packaging – 375g(3) Australia & New Zealand(Asian Drinks & Ready to drinkTea)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(4) China(Asian Drinks & Ready to drinkTea)Packaging -250/300ml/330ml/480ml/1L(Juice Drink)Packaging – 300ml(Soy Drink)Packaging – 300ml/1L(5) Hong Kong(Asian Drinks & Ready to drinkTea)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(6) Malaysia(Asian Drinks & Ready to drinkTea)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(7) North Asia(Japan)(Culinary/Condiments Sauces)Packaging – 150/250ml(8) Vietnam(Asian Drinks & Ready to drinkTea)Packaging -250/300ml/330ml/480ml/1L EXAMPLES: FOOD DRINKS SWOT ANALYSIS v STRENGTHSYeo’shave been a well known & trusted brand over a decade in food & beverageindustry.Yeo’shave strong team of employees working on their products for consumers, changingthe need of consumers by creating more new taste and varieties in theirproducts.Yeo’shave made efforts in promoting & advertising their products through manyways, both locally & globally. (Eg: Promotions & Events)6v WEAKNESSYeo’s, for their food products, they only focused onprocessed foods.
(Eg: Instant Noodles & Canned Sauces)v THREATSThey are many same strong industry competitors suchas F or Pokka which are also doing quite well in the industry. More new sameindustry competitors are entering into the market. (Eg: Mogu Mogu jelly juice)v OPPORTUNITIESYeo’sis a trusted and well known brand in the F&B industry, thus it can help tocontinue 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 moreopportunities for F&B Company like Yeo’s. v TargetMarketHousewifeStudentsFood HawkerRestaurantMarketSegmentation: Yeo’schooses housewife consumer as its target market.
Housewife prepares meal forher family every day, she is the one who decides what to cook and whatingredients to use. They are using the salted soya bean to make the food moredelicious. With the products that produce by Yeo’s such as canned foods are thesimplest food to be prepared. We focus in the curry which is the famous foodsfor the Asian people. Due to this reason, we can say that housewife is the”decider” in using some canned foods in her cooking for her wholefamily. The most famous products are sardine in tomato sauces, chicken curry,chicken kurma, beef curry, lamb curry and cuttlefish in soya sources andothers. Consumer in this segment normally ages from 30 – 78. This segmentfocused on canned foods such as tuna flakes in vegetables oil, tuna with slicedchili and tuna with chili and basil leaf, which are mostly favorable byhousewife.
Moreover,students who that staying outside is one of the consumer that hit the list ofmarket segmentation because they are expanding fast. Most of it serves theirmeal by eating the canned foods. They are potential for chicken curry, sardinein tomato sauces and the most favorable is the tuna canned food which providein different type of taste.Foodhawker nowadays is expanding faster as to the economy downturn recently.
Moreand more people tend to involve in food industry. They will sell sandwiches inmorning and afternoon. They are potential for tuna flakes in vegetables oil,tuna with sliced chili, tuna with chili and basil leaf and sardine in tomatosauces.
Restaurantis well known in this region for serving local and foreign food. As majorattraction to consumer restaurant have serve local food. MARKETING MIXYeo’s ppromoting their brand to consumers. YEO’S advertising theirproduct, generating sales, and creating brand loyalty.It is one of the four basic elements of the market mix,which includes the four P’s: price, product, promotion, and place. The two mainareas of focus are magazine and newspaper.Magazine – YEO HIAP SENG canpublish in daily magazines their advertisements. Magazine is a very good toolto brief potential readers about the company.
Many magazine readers are aroundall over the world, and some even read it daily as a part of their activities.Most of the other people read magazines during their free time.Newspaper – Newspaper will be abetter choice compared to magazine. This is because the amount of newspaperreaders is more than magazine readers. Through newspaper, YEO HIAP SENG canpublish their potential products with pictures, location, profile andinformation regarding the product.
It is very easy for YEO HIAP SENG to reachtheir target market through newspaper because almost everyone reads newspaperin almost over the world.Promotion is also defined as oneof five pieces in the promotional mix or promotional plan. These are personalselling, advertising, salespromotion, direct marketing, and publicity.A promotional mix specifies how much attention to pay to each of the fivefactors, and how much money to budget. Promotion covers the methods of communicationthat a marketer uses to provide information about its products. CONCLUSIONInconclusion, I think Yeo’s is a successful company in the F industry bothin locally & globally.
Its company had put many efforts into many areaslike (Eg: Research & Development), to create and ensure all products are ofthe highest quality and provide to all consumer’s needs.FromYeo’s milestone, Yeo’s have been making progress in their products, by comingup with more taste and flavors in their products occasionally. And constantlycome up with promotions, events to promote their products and bring awarenessto the consumer and this also helps to increase their business too.Yeo’sVision, Value & Mission is also something remarkable. Because based on theresearch, Yeo’s managed to have fulfil above three for their company and frompersonal view, I think it is because of these, it has resulted Yeo’s to becomea trusted and well known company in the F industry today.
1http://www.yeos.com.my/corporate-info/2 www.yeos.com.sg/Corporate_Overview3 www.yeos.com.sg/History_and_Heritage4 www.yeos.com.my/5 www.yeos.com.my/6 www.yeos.com.sg/