Asia Pacific Breweries (APB) is the leading beer brewery in the Asia Pacific region. The company’s most iconic product, Tiger Beer, is notably one of Singapore’s most successful brands in the world and is valued at S$820 million.
The lucrative beer industry has attracted numerous foreign beers to vie for the market share in Singapore which is valued at S$562.7 million. As the beer industry in Singapore is reaching maturity, beer companies have to find innovative means to remain competitive to have a profitable share of the market.
Recently, there have been increasing trends of younger customers consuming alcoholic beverages. With improvements in economies, education and technology, younger consumers have acquired a stronger purchasing power and frequent purchasing patterns. Beer companies are aware of the recent change in trends and have turned their attention to market and invest in this segment.
Akin to the changing market conditions, our target market for Tiger Beer is those aged between 18-30 years old. Tiger Beer has a strong brand equity in Singapore and abroad, however it may appear ‘old-fashioned’ to the younger consumers.
To assist the consumers to change their perception of our product, we have derived a market plan. This report aims to apprise the management of our market plan in terms of our strategies comprising the 4Ps of Tiger beer (Product, Price, Placement & Promotion). The plan also includes an action plan along with control measures to indicate the various processes in which our strategies will be executed and supervised effectively.
2. Market Situation
1. Company Vision
Asia Pacific Breweries (APB) corporate vision is to be one of the leading brewers in the Asia Pacific region, and its strong portfolio of brands is synonymous with quality and innovation.
2.2 Company Mission
Asia Pacific Breweries Limited upholds the values of integrity, competence and commitment to excellence and a high standard of corporate governance. Its aim is transparency and accountability, while creating and enhancing long-term shareholder value through enterprise and strategic growth, in its continual quest for new markets for its beers. (Tiger Beer Annual Report, 2004, Pg. 73)
2.3 Company Objectives
Keeping focus in our vision, staying sharp in our execution, strengthening the company’s competitive advantage. (Tiger Beer Annual Report, 2008, Pg. 21)
Malayan Breweries Limited, was established in 1931, and was renamed Asia Pacific Breweries, APB in 1990. It is a collective business enterprise between Heineken International and Fraser & Neave (F&N). APB’s primary activities comprise the production and distribution of beer and stout products locally.
Since their establishment, APB has seen their business expand globally, providing numerous opportunities to diversify and develop new brews to bolster their portfolio. Presently, APB possesses an illustrious portfolio of more than 40 beer brands, such as Tiger Beer, Heineken, Barons Strong Brew and ABC Extra Stout (Asia Pacific Breweries Limited, Corporate Profile).
In 2010, Singapore’s beer industry acquired a total revenue of $769.2 million with a compound annual growth rate (CAGR) of 4% within 2006-2010. Lager sales which constituted 73.1% of the market's overall value generated total revenue of $562.7 million, making it the most lucrative beer variant in the beer market.
Asia Pacific Breweries (APB) is the market leader in the Singapore beer industry with a market share of 64%.Tiger Beer is Singapore’s mainstream beer, which boasts an impressive portfolio brand value of S$820 million. (Marketline 2012, Beer in Singapore Summary)
Brewed from the finest of ingredients, under the most stringent of quality controls and meticulous brewing methods, Tiger Beer has been rated as one...