1.0 Situation Analysis 1.1 Current Marketing Mix 1.1.1 Current Product.

The benefits for the consumer include quenching their thirst, satisfying their sweet and pleasant taste and getting instant satisfaction for their basic physiological needs (Maslow's Hierarchy of needs 2010). Mr Bean's packaging is adorable because of Mr Bean's drawings and the way in which it symbolizes the brand of the company. It attracts people to buy the product especially, children. Mr Bean product labelling is Life's Simple Pleasures, which means everyone is entitled to lead a fulfilling and enriching life (Mr Bean 2009). The key Feature of Mr Bean product is that they use soya bean as the main ingredients, which provide rich nutritional value. The extra product that consumers can get when buying Mr Bean products is their own merchandise (Mr Bean 2009). Mr Bean is a consumer product because it is for personal use. Since, it is a low involvement product; consumer will not spend much time looking for the product. When consumer cannot find Mr Beans product, there is a high chance that they will go for a substitution product. Mr Bean has extensive product line that provides merchandise, which features the company soya bean mascot, which is unique from its competitors.

1.1.2 Current Pricing Mr Bean exists in monopolistic competitive market. Mr Bean products are classified as price elastic demand because changes in price will significantly affect the consumer demand due to intense competition (Price Elasticity of Demand n.d.). Mr Bean's price strategy is known as price product line pricing. They are also known, as price leader in the market, so its price is higher than its competitors. Not only price, consumers' buying decision will also include things such as the benefit, quality, and image. It is important that Mr Bean's business cost is used to determine the price for its product. That is why it can set the price higher than its competitors without losing customers. It is important the business cost is used to determine the price for its product. When the costs of operating business rise, it will reduce profit for the business. Typically, business will pass the cost to their end user by increasing the price of their products (orion n.d.). However, Mr Bean absorbs all the costs when business costs rise which is why Mr Bean does not increase their price for source of period.

1.1.3 Current Distribution Mr Bean has more than 50 outlet located island wide. This shows they have used intensive distribution method. Their outlets are located in MRTs, Heartland and shopping malls and hospitals, Singapore Management University (Mr Bean 2009). Mr Bean uses direct channel as their distribution channel. There is no intermediary level. In this case, consumer can purchase Mr Bean product directly from the manufacturer. Fast moving consumer good is the characteristic of Mr Bean product. People who are around Mr Beans distribution area are normally very busy and do not have any time to enjoy their meal. Thus, fast moving consuming good is the best choice for those people. That is why Mr Bean has decided to operate their outlet in this area.

1.1.4 Current Promotion Mr Bean has introduced a promotional product called Singapore Swirl. This is a special drink in celebration of Singapores 45th Birthday (Mr Bean 2009). The promotional product uses the colour of the Singapore national flag, white colour of ice cream accompanied by the red colour of Bandung. By using colour as a promotional message, people can easily recall Mr Bean promotional product whenever they think of Singapore National Day. So, it can help Mr Bean to increase their brand equity. Furthermore, Mr Bean has launching another promotional product called Mr Bean dollar (Mr Bean 2009). Mr Bean dollar can be used as gifts for special occasions. Consumers will feel fresh and excited when they buy this promotional product. At the same time, because this is a gift for a special occasion, this will make it more memorable when they receive this Mr Bean dollar. This increases Mr Bean's brand visibility and their sale. The main theme of the current promotion is to allow people to have fun and feel the excitement of the atmosphere. Both promotional messages eventually want consumer to purchase Mr Bean product.

1.2 Environmental Scanning 1.2.1 Political/Legal Environment Health Promotion Board (HPB) has focused on motivating Singaporeans to lead healthier lifestyles. In addition, Singaporeans are adopting healthier lifestyle compared to few years ago (MINISTRY OF HEALTH 2007). Mr Bean products also offer rich nutritional value to their consumer, such as soya ice-cream awarded with the Healthier Snack label under the Singapore Health Promotion Board for three consecutive years (Mr Bean 2009). 1.2.2 Economic Environment Consumer demand for Food and Beverage had increased from $4,646 million in year 2006 to $5,555 million in year 2008 (MONTHLY DIGEST OF STATISTICS SINGAPORE 2010). Since the spending for Food and Beverage has increased, Mr Bean grabbed this opportunity by launching a new product, which was a sand sales promotion to help them increase their sales. 1.2.3 Social/Cultural Environment The number of non-resident in Singapore has increase from 754,500 in year 2000 to 1,356,000 in year 2010 (CENSUS of population 2010). Not all the non-residence such as non-Asian like to drink soya milk. Therefore, Mr Bean provides diversification product that appeal to most non-Asian. 1.2.4 Technological Environment Mr Bean uses mass production to provide fresh and quality products to their more than 50 outlets (Mr Bean 2009). Their main mission is to delivery fresh and quality product to the entire customer. Therefore, Mr Bean's use of technology helps maintain their products quality and freshness to help them target the mass market effectively.

1.2.5 Natural Environment Soya bean is a core ingredient for all Mr Bean products. Therefore, if any unpredictable natural disaster happened it will increase the production cost on Mr Bean. Therefore, Mr Bean started to develop a extensive product breadth that does not rely on Soya Bean. For example, grass jelly drinks (Mr Bean 2009). 1.2.6 Competitive Environment Mr Bean has face intensive competition; this includes both direct competition like Jollibean and indirect competition such as Pepsi. Mr Bean is in Monopolistic market and Jollibean is the close rival to them. Mr Bean has established their own brand logo and merchandise which make them able to distinguish themselves from their competitors (Mr Bean 2009). 1.2.7 Demographic Environment From the Population Age Pyramid (Appendix1), it shows the average population in Singapore has been expanding during the decade (from 2000s to 2010s). From year 2000 to 2010, Singapore population have increase from 4,027,900 to 5,076,700 (CENSUS of population 2010 ). Mr Bean provides a variety of soya bean drink and snack that appeals to a large number of people. Therefore, they can effectively target the mass market in Singapore.

1.3

SWOT Analysis

Strengths Leading chain soya bean food & beverage retailer in Singapore today (Mr Bean 2009) . Uses advanced technology to produce soya milk (Mr Bean 2009). High quality of ingredients (Mr Bean 2009). Intense distribution more than 50 outlets located island wide (Mr Bean 2009). Mr Bean clinched the Established Brands Award and the Most Popular Brand Award from years 2007 to years 2009 (The 7th Singapore Prestige Brand Award 2008 n.d.). This award creates a strong brand name for Mr Bean. Extensive product line. Opportunities

Weaknesses Minimal product differentiation from main competitor. Their product all based on soya bean. Person who has uric acid cannot to consumer soya bean. Some of the Mr Bean product is not available on all outlets like, ice cream. Mr Bean not operated 24hr like his competitor. Limited purchase option. Such as call delivery.

Threats

Since Mr Bean has their own official website, Stiffer competition from local competitors. so they can develop online delivery. Mr Bean can develop home call delivery. Natural disaster occurs may increase the bean price. Therefore, it will increase the cost of production to Mr Bean. Profit for Mr Bean will fall. Therefore, threat for Mr Bean. Elderly population will grow between 11 per cent and 26 per cent from 1990 to 2030 (Phillips 2005). They usually have Gout, so they cannot consume soya bean.

It can also diversify its products by customizing products to ones liking.

Extend their product line to be healthier conscious. Could operate on 24hours. Usage of EZ link cards for consumers

2.0 Segmentation Theory 2.1 What is market segmentation? Market segmentation is defined by dividing a market into distinct groups of buyers with different needs, characteristics, or behaviour who might require separate products or marketing mixes (Adam and Armstrong 2008). 2.2 Why Segmentation is used? Segmentation is used, as there is no homogenous group market. Every buyer has his or her individual needs and behaviour. Marketer uses market segmentation as a means of identifying potential buyers because no company can possibly serve the entire customer (Sharma and Lambert 1994). Since different segment have different need, marketers can use segmentation to know the need of individual segmentation and create separate product for each segment to fulfil their needs. Thus, this can increase firm profit margins and profitability. Furthermore, customers have different disposable income. Therefore, different in how sensitive they are to price. By segmenting markets, businesses can raise average prices and subsequently enhance profits (market segmentation - why segment markets? n.d.). 2.3 How can firms benefit from a multidimensional approach to segmentation? Multidimensional approach that describes the individuals that make up this important segment using the specific characteristics involved in their geographic, demographic, psychographic, and behavioural traits. For geographic segmentation, it is based on regional variables such as region, climate, population density, and population growth rate. Demographic segmentation is based on variables such as age, gender, ethnicity, education, occupation, income, and family status, Psychographic segmentation is based on variables such as values, attitudes, and lifestyle. Lastly, behavioural traits include the user status and rate, brand loyalty and user behaviours. Through well-designed and carefully conducts research, firm can identify the particular needs of each market segment to create marketing programs that best match those needs and expectations. Also, company can make more profit from the targeted group whom are interested in the product (Recklies 2001).

3.0 Target market 3.1 Geographical traits Singapore is a highly urbanized country. The identified target group for Mr. Bean product is considered to be dispersed, as they are located in all over the entire island (MRBIAO 2008). The climate of Singapore is tropical, being hot and humid all year round with only a slight variation in temperature between winter and summer (Worldtravels 2010).

3.2 Demographical traits Generation Y, female, age ranges from 20 to 34. They are categorised into bachelor stage under life cycle stage and they are single (Family Life Cycle 2010). The target group is Singaporeans as well as all residents in Singapore. Their occupation is classed as working executive. Thus, their expected income level is around $1500 to $2500 per month. This depends on their level of education, which is generally high. Therefore, most of the generation Y females will be able to afford the price of Mr Bean product.

3.3 Psycho graphical traits The target group who has graduated from university or college, their average income level will higher than average household income , so they classifies as upper class. This group of people are fall into Experiencers in VALS2. They are young, enthusiastic, impulsive consumers, who seek to savour the new and offbeat product. They have less responsible so they can spend much of their income on trendy consumer goods and entertain themselves. Also, Experiencers constantly trains to be healthier lifestyle. For example, eat and drink in good health habit. Furthermore, they are active in both physical and social activities (Experiencers n.d.). They are group into Look at Me under Roy Morgan. They are looking for fun and freedom away from the family. They are concern about their image, want be slim and look good. They are very conscious of conforming to their peer group. Even thought they want to be independent but they still expect the family to support them, feed them. Money is essentially for them because they need it to let them able to enjoy. They responses tend to be associated with hedonism (Look At Me n.d.). For personality traits, they belong to the passionate category which means they are emotional and spiritual. For AIO, an activity is community, interest is food, and opinion is product. 3.4 Behavioural Traits The targeted group are using Mr Bean product brand as anytime snack food. They are seeking benefit of the nutrition; quench their thirst, and pleasant taste from Mr Bean. Mr Bean has extensive breath of product line that encourages them to become a heavy user. Moreover, this group of people have a higher income and purchasing power which enables them to be the decision maker. Furthermore, Mr Bean had used customer loyalty program such as membership to influence the target group to become strong brand loyalty customer (Mr Bean 2009). The readiness stage for this group of target people is known as liking. Liking will encourage them to use money to purchase Mr Bean product. Their overall attitude toward Mr Bean product is strong and positive because they like the product.

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6.0Reference
2010 GDP growth forecast for 2010 at 13.0 to 15.0 per cent. August 10, 2010. http://www.singstat.gov.sg/news/news/gdp2q2010.pdf (accessed August 25, 2010). Adam, Kolter, and Denize Armstrong. 2008.Priniciple Of Marketing. 4th edition. N.S.W: Frenchs Forest N.S.W. CENSUS of population 2010. 2010. http://www.singstat.gov.sg/pubn/popn/c2010acr.pdf (accessed september 8, 2010). Experiencers. http://www.strategicbusinessinsights.com/vals/ustypes/experiencers.shtml (accessed August 30, 2010). Family Life Cycle. March 8, 2010. http://www.citeman.com/9102-family-life-cycle/ (accessed September 10, 2010). Look At Me. http://www.roymorgan.com/products/values-segments/look-at-me.cfm (accessed August 29, 2010). market segmentation - why segment markets? http://tutor2u.net/business/marketing/segmentation_why.asp (accessed September 10, 2010). Maslow's Hierarchy of needs. 2010. http://www.netmba.com/mgmt/ob/motivation/maslow/ (accessed September 9, 2010). MINISTRY OF HEALTH. 2007. http://www.moh.gov.sg/mohcorp/speeches.aspx?id=12396 (accessed August 26, 2010). MONTHLY DIGEST OF STATISTICS SINGAPORE. August 2010. http://www.singstat.gov.sg/pubn/business/essfnb2008.pdf (accessed September 5, 2010). Mr Bean. 2009. http://www.mrbean.com.sg/ (accessed August 27, 2010). MRBIAO. Singapores approach to population diversity is similar to its approach to biodiversity. August 5, 2008. http://www.mrbiao.com/blog/singapores-approach-to-population-diversity-issimilar-to-its-approach-to-biodiversity.html (accessed August 30, 2010). orion, amarin. When production costs increase, why does production decrease? http://answers.yahoo.com/question/index?qid=20071105025921AAd1PTy (accessed August 31, 2010). Phillips, David R. 2005.Singapores ageing population and Social challenges and responses. New York: Routledge Price Elasticity of Demand. http://www.netmba.com/econ/micro/demand/elasticity/price/ (accessed September 4, 2010). Recklies, Dagmar. Why Segmentation? 2001. http://www.themanager.org/marketing/segmentation.htm (accessed August 30, 2010).

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Sharma, Arun, and Douglas M Lambert. 1994 . "Segmentation of Markets Based on Customer Service." Iinternational Journal of Physical Distribution & Logistics Management 24, no. 4: 50-58. Singapore Income Tax: Corporate Tax Guide. http://www.guidemesingapore.com/corporatetaxation/c321-corporate-taxation-system-overview.htm (accessed August 25, 2010). The 7th Singapore Prestige Brand Award 2008. http://www.mrbean.com.sg/cmsresource/PDFs/SPBA2008.pdf (accessed August 25, 2010). WHAT'S YOURS? http://spring.gov.sg/EnterpriseIndustry/BC/BP/Documents/Behind_every_brand_is_a_story_whats_ yours_Book1.pdf (accessed August 25, 2010).

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Appendix 1

http://www.singstat.gov.sg/stats/charts/popn-area.html#popnB

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