Question 2 Brand\'s Essence of Chicken Brand\'s Essence of Chicken is a househol

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Question 2 Brand's Essence of Chicken Brand's Essence of Chicken is a household name in Singapore and the man heading the company intends to keep it that way. Cerebos Pacific group chief executive Gen Saito, is gearing up to mark the 180th anniversary of its most famous product this Brand's Essence of Chicken now accounts for 60 per cent, or $588.6 millio Cerebos Pacific's overall revenue. While the product may seem simple, Mr Saito wants to identify more of the science behind its benefits. "Many people know it's good your cognition and memory. My attempt is to put more science behind the product, so is relevant to more people and nations," say Mr Saito Instead of trying to diversify the business, he wants to focus on its flagship product. Usually when talking about expansion, people say if you want to grow the business, it is about the number of products. But it's not that simple. Rather than spreading across many different variants and products, I really want to concentrate on this chicken essence and get the best out of it." He is also looking at new and better ways of getting the message to consumers. "This is not a simple food or beverage product," he notes. "It is a health supplement. "So, to help our consumers, we want to embark on digital direct engagement. It is not the traditional way of doing things, such as TV commercials or magazines. We are novw investing heavily in creating a back-end system, so that we can identify each individual customer's profile (and) craft specific offerings for them, based on very accurate data tracking The Cerebos Pacific headquarters is located in Singapore. Mr Saito is looking to expand the business beyond South-east Asia, to Japan and possibly to Britain. But it is not all about profits either. He is also trying to inculcate a sense of corporate social responsibility (CSR) in his employees. "We encourage employees to participate in CSR projects and activities for the needy." Adapted for academic purposes: Focusing on r Straits Times, 29 June 2015, Money, page B1O he brand's essence, by Fabian Koh, The

Explanation / Answer

An interesting question which will give you a good idea about how market entries are done. We have the case of a company which has a very successful product in one part of the world, and now they want to expand to other countries.

Recommendation: This will be a two pronged approach. First, run discreet adverts, preferably on social media to a targeted audience. It is possible to profile users very accurately considering the amount of data which is generated on social media sites today. Run targeted ads, give facts and figures about the benefits that the product has brought in the home country. This creates interest in the target audience. Note that the product has not been launched yet.

Next, we come to the actual launch. Sell the product through flash sales, through an online channel. What this does is, it not only ensures that only the people who have been really following this product through the ad campaigns get it, but it also ensures that the company gets its first sample set for genuine feedback in each of the markets. By launching it online through a limited day sale, it induces a sense of curiosity and interest around the whole product. It also helps in much better demand planning. Once the company gets its first set of feedback, it can work on implementing if needed and then go for a full scale launch through retail stores.

This will be my approach (note that I have mentioned more than 2 reasons for my choice of approach in the above paragraph itself)

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