The digital evolution of the Singaporean consumer prompted NTUC Fairprice, Singapore's iconic grocery brand, to a major rethink in marketing strategy — but changing direction as a market leader is not without its challenges, according to a senior executive at the company. Christina Lim, Director - Brand and Marketing for NTUC Fairprice, addressed this issue at a recent industry conference, where she explained that while the grocery chain commands a dominant market share in Singapore, the company cannot stand still but has to evolve along with the city-state itself.
Hire Writer Political factors pertain to the degree of influence and capacity of governments to intervene in the operations of businesses through public policy, tax laws, import and export restrictions and other trade regulations Aguilar, Singapore, being a largely commercial and highly urbanized country, is mostly unable to grow its own agricultural products that are needed in the production of food and beverage goods.
This being the case, the country is largely dependent on international trade with countries like the United States, Australia, a large part of Europe and the Middle East. The country maintains a relatively open economy—being able to conduct business with the aforementioned countries with minimal sanctions and restrictions.
In fact, the Singaporean Ntuc fairprice case study does not impose any import taxes on most food and beverage products with the exception of tobacco and alcoholic goods.
According to Tangdespite the general slowdown of the Singaporean economy in the recent years, the country achieved higher than expected economic growth in the final quarters of While this proves to be a positive sign for the economy, he still warns that may be marred with dismal business growth and a lack of consumer confidence as the Singaporean economy may get affected by the continued weakening of the Euro, the slowdown of the Chinese economy and the protectorate stance of the Trump administration.
Social Factors Social factors primarily pertain to the general behavior and Ntuc fairprice case study of a group of consumers. Particularly, it can pertain to their current set of preferences as dictated by their demographic profile, psychographic dispositions and the presence of new trends in the market Aguilar, In fact, Singaporeans are known to clock in an average of 46 working hours per week—one of the highest in the world Ministry of Manpower, This may have led many customers to develop of culture of convenience—opting for activities and services that can help them save time and be more productive.
Firstly, this could mean a sustained increase for demand of instant and easily prepared food items. Secondly, it could also mean that more and more users are open to trying and subscribing to their online platform.
They may pertain to new discoveries that can help create new products or services or to new innovations that can streamline systems and costs Aguilar, Being a highly urbanized society, the Singaporean market has become highly dependent on technology.
This includes grocery shopping. In the same year, more thanshoppers bought their groceries online to be able to save time and effort in shopping for their everyday needs Jenner, This could imply a huge opportunity to grow FreshPrice Online.
Environmental Factors Environmental factors pertain to the general attitude of customers and the stance of the government when it comes to preservation of the natural environment.
This continuously increasing trend has forced the Singaporean government to implement a more systematic public waste collection scheme and a more stringent illegal dumping law.
Being one of the largest producers of solid food waste in the country, FairPrice took a proactive stance and led the implementation of the Food Waste Index that essential measures and tracks the waste the company produces on a periodic basis.
It is the first step towards the implementation of other key initiatives Zero Waste Singapore, Legal Factors Legal factors pertain to the stringency of the government and other governing bodies in key aspects of business operations.
These factors may cover employment regulations, workplace safety requirements, product testing procedures, anti-trust laws, competitive regulations and other similar factors. In the case of FairPrice, the threat of new entrants can be considered low.
Firstly, entering the supermarket and grocery industry requires substantially large capital to be devoted to the purchase of expensive real estate, building and infrastructure requirements as well as the different facilities and fixtures used in day to day operations.
The business will also require huge investments in inventories, warehousing and wages for the labor force. In the case of FairPrice, this can be considered only moderately threatening. The decisions of one customer may prove immaterial in the long run.
However, in the unlikely scenario where FairPrice decides to increase prices or suffers from the poor service of their personnel, it is not impossible for customers to opt for different supermarkets.
Bargaining Power of Suppliers Low Likewise, the bargaining power of suppliers pertains to their ability to put pressure and influence the strategic decisions of a company. Suppliers may prove to be very careful in negotiating and doing business with a client of over a hundred branches as they may be easily replaced with a different brand.
In fact, FairPrice may have enough leverage to demand the lowest prices and the biggest margins from its many suppliers. Threat of Substitutes Moderate The threat of substitutes pertains to the propensity of current customers to try out alternative products and services Porter, NTUC FairPrice was first established in as NTUC Welcome Supermarket in Toa Payoh, to solve the rising oil and daily prices then due to leslutinsduphoenix.com prime minister Lee Kuan Yew opened the first supermarket at Block , Toa Payoh Lorong 4, and it was the first of its kind.
Around the same time, other unions such as the Singapore Industrial . NTUC- Case Study; Case Studies NTUC Link Relies on Ashnik for a Highly Available and Scalable Database Technology and Support for its Campaign Management Solution.
ABOUT THE CLIENT. NTUC Link spearheads Plus! – Singapore’s largest and most . This case NTUC FairPrice in focus on NTUC FairPrice was a successfully run cooperative supermarket chain of NTUC (National Trades Union Congress) in Singapore. Started as a cooperative to moderate the cost of living in Singapore, it dominated the grocery retail market in Singapore.
Background NTUC FairPrice NTUC FairPrice is a social enterprise of Singapore National Trades Union Congress (SNTUC), the only trade union centre in Singapore.
Founded in , the vision of the organization was to moderate the cost of living. SINGAPORE: The digital evolution of the Singaporean consumer prompted NTUC Fairprice, Singapore's iconic grocery brand, to a major rethink in marketing strategy – but changing direction as a market leader is not without its challenges, according to a senior executive at the company.
This case NTUC FairPrice in focus on NTUC FairPrice was a successfully run cooperative supermarket chain of NTUC (National Trades Union Congress) in Singapore.
Started as a cooperative to moderate the cost of living in Singapore, it dominated the grocery retail market in Singapore. It returned dividends and other .