NUS MKT1003 Principles of Marketing Group Project Assignment

NUS MKT1003 Principles of Marketing Group Project Assignment
Academic Year 2009/2010 Semester 2

Super Coffeemix Manufacturing Ltd

A. History and management structure of the company

History

Super Coffeemix Manufacturing Ltd was established in 1987 and listed on the Singapore Exchange in 1994. Headquartered in Singapore, Super is a leading diversified manufacturer of instant convenient food and beverages that are marketed and distributed globally.

Super was the first to introduce the concept of 3-in-1 instant coffeemix in Singapore. The product proved to be a huge success, and this concept has since been adopted by other coffee manufacturers. Over the years, Super has diversified its range of products to include more than 300 different types of food and beverages. These products are distributed to more than 50 countries worldwide through a well-established distribution network comprising local retailers and distributors. By leveraging on its strengths in Research & Development, Super’s products are customized to suit the unique palates of its markets.

The Group adopts a global outlook and has operations internationally with manufacturing facilities in Singapore, Malaysia, China, Myanmar and Indonesia and a network of direct sales offices and distributors strategically located to reach Asia-Pacific and world markets.

Today, Super owns a family of brands, which include Super, Café Nova, Super Power, Grandeur, Owl, Coffee King, Gold Eagle, Negresco and Eagle King. Continuous emphasis on brand awareness and product quality has earned Super numerous accolades and awards for its brands and products. Some of these include the “Brand Laureate Award” for 2 consecutive years since 2006, the “Top 5 Fastest Growing Singapore Brand” in the Singapore Brand Award 2006, the “Promising Brand Award” and the “Heritage Brand Award” in the 5th Singapore Promising Brand Award in 2006, the “Grand Gold Medal” awarded by Monde Selection at the 43rd World Selection in 2004 and the “Strongest Singapore Brands Award” in the Singapore Brand Award 2003.

Super currently operates 13 manufacturing and packaging plants spread across Asia. Each facility is equipped with state-of-the-art production lines that are customized to meet stringent international manufacturing standards. As a testament to its manufacturing excellence, Super is one of the few companies in the world with manufacturing capabilities for cereal lakes, soluble coffee powder and non-diary creamer.

Management structure

The Board’s primary role is to protect and enhance long-term shareholders’ value. It supervises the executive management and sets the overall strategy of Super, encapsulated in their Vision, “to be the leading F & B manufacturer, providing excellent quality Instant convenient food and beverage products to the global market.”

The Board consists 15 Directors, 8 of whom hold executive positions and lead a business unit, 2 non-executive directors and 5 independent non-executive directors. Under its supervision is 4 key executives who manages the subsidiaries of Super.

B. Markets (countries and customer groups) served and products & services offered.

Markets served

Super’s distribution network spans and serves a large number of countries worldwide. The main markets for Super’s exporting activities are mostly in Asia and they include China, Malaysia, Mongolia, Myanmar, Philippines and Thailand.

The main contribution to sales revenue comes from markets in the Southeast Asia region which include Singapore, Thailand, Myanmar, Malaysia, Philippines and Vietnam. Together they account for more than 80% of Super’s annual revenue.

Customer Groups

Super targets and serves two major customer groups. Effort is put into optimising marketing strategies to appeal to the target market and into developing products that suit the needs of these separate customer groups.

A main customer group served by Super is categorised as Families and Homemakers. These customers are mainly made up of people who require convenient access to instant beverages and foods at home and thus have a high demand for Super’s products. As these customers use the products on a daily basis, value and pricing are important factors in the marketing of the range of products targeted towards them.

The second customer group served by Super are the Professionals, Managers, Executives and Businessmen. These customers lead a busy and quick paced lifestyle and are thus inclined towards quickly consumable foods and beverages that will save them time and effort. However, as this group of customers are generally more affluent, they will have a self image that they would want to maintain and Super caters to this by packaging their higher range products with better design and also by using marketing strategies that are more appealing and are targeted at this customer group.

Products offered

Super offers and produces a wide range of food products which include coffee, tea, cereal products and instant noodles.

Coffee products account for over 75% of Super’s operating revenue and are a major product group that Super is serving. Thus, the following report will focus on using the various coffee products as examples to illustrate the difference in marketing strategy used by Super to target different market segments.

C. Recent performance of the company.

Recent Performance

The economic downturn has no doubt created a lot fluctuation in the market. Almost every countries and companies were affected quite badly by the crisis. Super Coffeemix Ltd. also was affected by the crisis. In the Singapore Exchange, Super Coffeemix’s stock price has declined sharply, as much as 40.90%, during the last 52 weeks. Nevertheless, they still manage to control their earnings and dividends payment to be quite stable during those 52 weeks (see Graph 1).

While the world is suffering from global economic crises and melamine calamity, Super managed to stay and created good results for the 3rd Quarter of 2008 (David Teo, 2008). Super Coffeemix Ltd. has reported a 27% increase of net profit for the third quarter in the year 2008, compared to the same quarter the year before. We can see from Table 1, Super Coffeemix’s revenue has increased by around S$ 20 million in one year. They have successfully cut their other losses by 75%, and, therefore, gain more profits. It is certainly not easy to improve the company performance in hard time like this, but Super managed to do it. According to Mr. David Teo, the Chairman of Super CoffeeMix Ltd., beside of increasing their key markets, in order to enhance the company’s growth, Super also aims to penetrate into new markets such as Ukraine and South Africa.

In the annual 2008 Singapore International Ranking, Super is still below Food Empire Holdings Ltd. (83th), with their coffee MacCoffee, which also has 3 in 1 coffee as its main products, as one of its main competitors in the market. However, Super excellent performance in the year 2008 has resulted in a jump in the annual 2008 Singapore International 100 Ranking, from the 105th position to the 100th position .

D. Macro-environmental analysis by company

Political Factor

Super Coffeemix Manufacturing Ltd, being registered locally, is able to take advantage of the positive political environment in Singapore and use it to build its brand image as being trustable and always safe for consumption. The Agri-Food and Veterinary Authority of Singapore (AVA) also does constant screening on the products which Super offers as part of the requirements for distributing in Singapore which further strengthens the point of it providing a resilient supply of safe beverage.

Economic Factor

The main economic factors affecting Super at this point of time are their competitors and the economic recession. Super CoffeeMix Ltd. has quite some competitors in F&B; market, such as Nescafe and MacCoffee. Nescafe, a European brand, has been well established already. The part on competitors will be discussed more on the next section.

As we all know, the world is currently facing one of the worst economic downturn since the Great Depression, and Singapore is not spared. Super CoffeeMix, as F&B; manufacturing company, is faced with quite a few problems. Not only that the consumers’ buying power is decreasing, but also consumers have become more selective in their buying process. However, as shown in table 1 in the previous part, Super managed to increase their profit by increasing their key market and expanding into new market. One factor that allowed this to happen is due to fact that many consumers are switching from ready-made coffee from coffee houses such as Starbucks or Coffebean to instant coffee as a mean to saving money.

Social Factor

A lot of professionals are adapting the fast pace lifestyle, where they have very little time to sit back and relax. In this case, Super CoffeeMix will be able to successfully attract this type of consumers with 3 in 1 coffee products. The convenience of being able to brew a cup of coffee anytime, anyplace instead of going to a coffee shop just for a cup of coffee, coupled with the cheap price is a huge selling point for Super coffeemix

Furthermore, adults are not the only ones drinking coffee nowadays. Teenagers and students have adopted drinking coffee as part of their lifestyle. Putting this into consideration, Super realizes that this second type of customer will focus more on the brand and packaging more. That is why Super introduced Cafe Nova, which mainly targets the young generations.

Technological Factor

Super continually tries to cope with the advance of the technology. The Research and Development team thus holds a very important role in the company. The R&D; team is supplied with specialist personnel, and sophisticated equipment. The R&D; team does not only have role in developing the products for the market, but they also do the quality control for the products. Under the guidelines of ISO9000, Super tries it best to make sure that every product that will and has been released on to the market has the highest standard of quality. Overall, Super has a team of 5 food scientist to do standard test on their products on regular basis.

The success of developing a lot of new products to the market does not make Super stop from their continuous development. The team always works hard to search for a lot of new products that will totally satisfy the customers.

E. Market, industry and competitive analysis by company.

Firstly, in order to find the market analysis by the company, the defined market has to be identified first to get a more accurate depiction of the target market. For the different range of coffee available from Super, it can be seen that the target market for Café Nova is the PMEBs, particularly the younger crowd. This is seen from the way the coffee is promoted and advertised, showing hip yet sophisticated men and women hanging out and drinking Café Nova. The Coffeemix 3-in-1 on the other hand targets families and is seen from the use of local celebrities for the advertisements that are close to the hearts and minds of the everyday Singaporeans who know them from watching Chinese serials and are thus able to relate to them. A more detailed analysis of the target customers’ demographics will be done in the next section.

Competitive analysis for the instant coffee market may be quite difficult to examine due to the nature of the instant coffee market. There are numerous brands in the market each with its own unique selling point. Also, According to the National Coffee Association’s annual drinking study, only about 7% of coffee drinkers consume instant coffee every day, and only 9% of coffee drinkers said they’d sipped instant in the last week (York, Emily, 2009) which shows the extend of competitiveness in the instant coffee industry. Close examinations, however, will be done with one of Super’s main competitor, Nescafe, for consistency throughout the whole paper.

Nescafe has a long history dating back to around 1930. Super, being a young player on the market, should be commendable for its growth to being such a big player, growing from strength to strength year in and out. The marketing model of Nescafe includes building brand loyalty by ensuring quality products and providing recipes on how to make Nescafe coffee taste better by adding other easily obtainable ingredients.

Therefore, core competencies include striving to be unique in its own way so that competitors will not imitate products. Communication is important as well to be able to relate to consumers and understand their needs and wants. Also, by tapping on its Unique Selling Point of Super, which includes ability to target a wide market due to its various ranges of products, they are able to market and introduce new products easily as compared to a relatively unknown brand.

F. Customer analysis and segmentation by company.

Super adopts the segmentation strategy of having multiple products for multiple market and customer segments.

Super segments and targets customers based on a few categories. The first of which is their income level. The regular Super Coffeemix instant coffee is targeted towards the middle to low income range consumers that include families and homemakers. As these customers are more price sensitive, the product is priced cheaper than the other products in Super’s product line up and also competing products from other companies like Nestle. As for the higher income customer groups, Super believes that these customers will be more willing to pay a higher price for better quality and thus markets the more expensive Grandeur and Cafe Nova line of products towards these customers by using better designed packaging and higher quality beans.

This forms the basis of Super’s two-tier approach to marketing their products by offering different variations of the product to high-end and low-end segments separately. This approach is effective in the Asian market as higher income customers are becoming increasingly affluent.

Customers are also segmented by Super according to their Lifestyle and Age. Extensive effort has been put into targeting higher end products to the more affluent and young customers like professionals, managers, executives and businessmen (PMEB) who live busy and active lifestyles. This is especially seen in the Cafe Nova line of products where the marketing campaign consisted of advertisements and endorsements from young celebrities and also colourful and hip packaging that includes fictional characters that are shown to be also active and hip. Super believes that this image will make the coffee appeal to PMEBs by resonating with their self image.

Another segmenting variable used are the benefits of the product sought by the customers and the function that the product fulfils for the customer. For the homemakers, instant coffee is simply used at home as a daily beverage choice and thus is used up relatively quickly. Super optimises their regular coffee product for this high usage rate by packaging a large number of up to 48 satchels in one packet of instant coffee. This is in contrast to the Grandeur specialty coffee which is targeting at coffee enthusiasts and people who consume coffee as an occasional luxury and are more concerned about the taste of the coffee. As the these consumers will drink the coffee less frequently than daily consumers, Grandeur coffee is packaged in boxes of only 12 satchels to cater to the customer’s lower frequency of use.

Super also segments their customers according to their geographical region. Countries such as Thailand, Myanmar and Malaysia are price sensitive markets and thus lower priced and more economical products are marketed more in these regions. In Malaysia, localised advertisements are also used to appeal to the local market more. These advertisements are made in Malay and feature products that are produced for the specific market, such as the 6-in-1 Coffee with Tongkat Ali.

G. Marketing objectives of company & Marketing strategy and marketing mixes of company

Marketing Objective and Strategies

Brand awareness

Super Coffeemix recognized the importance of advertising and promotion in various channel being a critical tool to reach the masses with its flagship 3-in-1 instant coffee product. This is because they wanted to position Super Coffeemix with products that offer great convenience to coffee drinkers and differentiate themselves from their competitors.

To create brand awareness and to strengthen Super Coffee’s direction as the preferred choice for instant coffee mixes category, they set aside around 11-13% of its gross revenue for A&P; to increase consumer awareness of its brand in its major markets in recent years and they have more than 300 types of products.

Advertising & Promotion:

Above the line A&P;

Above the line A&P; refers to the advertising of products via mass media, like sponsorships and advertisements on the television, newspaper and outdoor posters. These methods aim to target the general public.

Over the years, Super has carried out many advertising campaigns. These advertising campaigns help create the brand awareness by increasing the exposure of the brand itself. These advertisements reach out to the public directly, and through its creative design, capture the attention of the consumers and enhance the brand name.

In the past, Super has successfully launched television advertisement campaigns such as the Super Coffeemix New Packaging commercial featuring Zoe Tay and Li Nanxing in 2004 and the commercial for Café Nova featuring Michelle Chia in the same year. They have also employed newspaper advertisements for the launch of Grandeur, one of their newer products. For outdoor advertising, Super has done bus stop advertisements with ClearChannel outdoor. These advertisements capture the public’s attention and increase the awareness of the brand name allowing Super to achieve its marketing objectives.

Besides these forms of advertisements, Super has also been involved in the sponsoring of media events such as the Mediacorp Chinese News, where the Grandeur logo was part of the clockface for three years. They have also previously sponsored television shows such as the Sing Shiong Show. These sponsorships increase the brand exposure, allowing increase awareness of the Super brand name.

Below the line A&P;

Below the line A&P; involves the non-media form of advertising unlike above the line A&P; where media is used for the promotion of a brand or product, below the line A&P; employs methods such as sponsorship of events, trade marketing, promotions and product facing. These often target on-the-spot purchase.

Throughout their history, Super has been known for the sponsorships of the many events such as food fairs and the Subaru challenge and The New Paper Big Walk. Through sponsorship of such events, where Super products are being used directly by the customers, the Super brand name can be exposed directly to the audience in the events.

Besides sponsorships, Super employs trade marketing as well. They offer trade discounts and trade allowances to encourage distributors to have promotions on their items, stimulating sales and encouraging customers to purchase their items. Trade marketing increases the profit margin of the distributors by reducing the cost price of the coffee mix. This allows the distributors to sell their products at a discounted price or even encourage the products to be placed in better positions. This is especially important to Super as most of their products are sold in supermarkets where there are many shelves and product placements. To have a product that is within eye level of the customer, it encourages customers to make on the spot buying decision and choose Super. These below the line A&P; encourages customers to purchase the products Super offers, thus increasing the exposure of the products and the brand name.

Increase market segments

To increase the market segments, Super has expanded its market overseas and target the different demographics within the countries. This is due to the fact that Super is already a well-established brand in a saturated market in Singapore. Where else overseas, the potential for growth is much greater. Thus, by doing so, Super increases their profit margin by selling to a global market. It also increases brand awareness and builds the brand name as a whole.

Besides Singapore, Super sells their products in countries such as Thailand, Myanmar, Malaysia, Philippines, Mongolia, etc. In total, they market their products to 50 different countries. Even in the different countries, Super also targets different groups of people. Form different age groups, to different spending powers to different family life cycles. Super has come up with a different range of products and marketing strategies to meet the different target groups:

Super 3 in 1 Coffeemix:

Super 3 in 1 Coffeemix, has a target demographics of housewives and families. It is known for being economical and convenient drink for most to drink at home or in the office. Due to the fact that it is economical, it is able to target the low-income group and more price sensitive markets like those in Thailand and Myanmar. Therefore, despite the new packaging, has retained the original Super Logo and original green and red package colourings. This is to maintain its previous image as an affordable choice for families.

Café Nova:

Café Nova on the other hand, has a target demographic of PMEBs and people under 40 years of age. It is marketed as a convenient and better-quality instant coffee drink for people to consume at work or at home. To meet the targeted younger and higher income group, Café Nova is packaged differently, with cartoons, different brand name and slogan, more lively fonts and even new slimmer sachets. It is also sold at a higher price than Super 3 in 1 Coffeemix and has more healthy flavours. These aspects allow Café Nova to target a younger and higher income group.

Grandeur:

Grandeur has a target demographic slightly wider than Café Nova. Unlike Café Nova where a greater focus is on targeting the younger people, Grandeur is meant to target a wider age group. It is also a better quality coffee, and with better ingredients. This allows Grandeur to target a higher income group and thus sell itself as a classier brand. The packaging of Grandeur is classier than that of Café Nova. It does not have animation or lively texts, instead it has a more serious packaging and fonts. The seriousness of the design reflects on the their target audience, whereby only serious coffee drinkers who enjoy the better quality of coffee are willing to pay more for the desired quality.

Besides having a range of products such as the ones above, Super also spends a lot of money advertising overseas. These new product launches and intensive advertising in South East Asia, China and Mongolia has generated an over 20% growth in group sales revenue from S$210.7m in 2006 to S$253.6m in 2007. Majority of growth coming from overseas, Super focuses their advertising overseas due to the potential market.

Similar to their above the line A&P; in Singapore, Super has been marketing overseas as well. In Thailand, Super sponsored events like the 2005 Miss Thailand Universe competition and there was even a Super Gameshow in the same year. In Malaysia, there were successful advertisement campaigns featuring the Super Coffeemix and Super Power Coffeemix done by Veer Motion Graphics. There was also an event called the “Super Grab & Run” where the contestants can win cash prizes and Super products by grabbing as much Super products in a set time frame.

By adopting such intensive advertising campaigns and having a range of products, Super has managed to capture different market segments and increase their overall sales revenue.

Maintain positive and stable growth

To maintain positive and stable growth, Super has to increase market coverage and product offerings. They also have to increase consumer purchase to fuel the business. To do so, Super has to ensure a comprehensive market mix. By offering a wider range of products such as the Super Coffeemix, Café Nova and Grandeur, Super can reach out to a greater range of people. They also have to increase their market segment by marketing to different countries and providing sufficient advertising in the retailed countries as previously mentioned. Similarly, as previously mentioned, by applying above and below the line A&P; to all the countries they sell to, Super can increase the overall size of market they serve and increase the consumer purchase.

Besides these, Super has to reduce production costs and try to cushion the increasing price of raw materials to sustain profit margins. To reduce the production costs, Super has set up manufacturing plants in China, Malaysia, Myanmar and Thailand as well. With the cheaper labour costs in these countries, Super is able to keep production costs down. On the other hand, due to the increasing prices of raw materials, Super has come up with methods to cushion this inflation. Despite the substantial increase of prices of raw materials, Super is unable to increase the price of their products sold too much as it would result in the loss of their reputation as an economical choice for families. Hence Super can only increase the prices of their product by 7 to 8%, which is not very noticeable to customers. At the same time, Super reduced the package sizes to save costs. Previously, in the Super 3 in 1 Coffeemix, Super sold 48 sachets at S$5.20, but now, Super sells 45 sachets at the same price. The reduction of number of sachets is not very noticeable and allows Super to cushion the effects of rising raw material price and maintain their customer base.

Competitive advantage

One of Super’s main competitors is Nescafé. Nescafé is a European brand and is a subsidiary of Nestle, a food and beverage giant. Nescafé is also known for being a more expensive brand as compared to Super. This, coupled with the fact that Nescafé is a European brand, gives people the impression that Nescafé has better quality coffee. Thus Super, is at a disadvantage in Singapore where consumers can afford to pay more for a better quality of coffee.

However, in more price sensitive markets like Thailand and Myanmar, the lower cost serves as a great advantage to Super. As Nescafé is a European brand, people in these markets would perceive their coffee to me more expensive. On the other hand, Super, being a South East Asian brand, is more known for being affordable and economical, giving Super an edge over its competitors. As compared to Singapore, the number of potential customers in these regions is far greater and represents a much greater profit margin as compared to merely focusing on marketing in Singapore. This corresponds to the significant market growth in these regions as compared to Singapore which results in an overall group sales revenue growth.

H. Evaluation and Recommendations

A comparison between Super and Nescafe, one of their main competitors, shows how Nescafé is more successful in attracting the younger generation. This is seen through their various advertising campaigns targeting the youngsters with trendy packaging and using world famous sportsmen like Lewis Hamilton to market their coffee. The benefit of attracting the younger generation is that it allows for the building of customer loyalty. This in turn represents a stronger customer base fuelled by customer loyalty. Thus its our belief that Super should follow in the footsteps of its competitors and reach out more fervently to youths.

While Super has delivered a new product Café Nova, aimed predominantly towards their younger audiences, we feel that they are still losing out to other more successful and established brands like Nescafé. One of the reasons is due to the importance of convenience for the generation of youths, often preferring their beverages to be ‘on the go’, as consumption can take place anywhere. As such many find it inconvenient to brew the instant coffee packets that Super prides itself with and instead, often preferring to purchase canned coffee, like the one offered by Nescafé.

Super can follow Nescafé’s example and package Café Nova as a canned drink and market it to the youths drawing them by the unique flavours offered, Unsweetened, Oligofructose and Latte. Through the use of vending machines, their products would be made more readily available and this would improve their branding, showing the impact of canned drinks. If they are able to tap into the youth market and retain them as loyal customers, they can continue to offer their different ranges of coffee as this generation grows. This provides a well-established customer base that would enable Super to further ascertain its presence with the other demographics of Singapore.

It is also our opinion that Super should continue, if not, improve on its marketing in terms of its Singapore market. Despite Singapore’s market being a small contributor to its group’s revenue (3%), Super can make use of the greater affluence of Singaporeans to market their higher end coffee products, such as Café Nova and Grandeur, both of which targets mainly young working class adults, which would reap more revenue than their regular coffee mixes. Over the years, Super has generally placed less emphasis on media advertising in Singapore, focusing more on sponsorship of events to market their brand. However, most young adults would remember Super for their media advertisements and highly popular game show series broadcasted in Singapore. Thus in order to remain popular and distinguishable in the Singapore coffee market, Super should improve on its marketing strategies and improve its advertising means to include the internet as this specific group of people are constantly ‘online’. A look at Super’s official website (www.super.com.sg) shows how Super has a long way to go in order to be on par with other F&B; brands like Nescafe. The use of the internet is also important in creating awareness for their various products. Despite producing over 300 F&B; products, most of them are largely incognito and many are just familiar with their coffee range of products due to the Groups Super Coffeemix name.

Having already set up manufacturing facilities and distribution networks in countries such as China and Thailand, which are the 2 fastest growing coffee markets in East Asia. Super should continuously focus on its branding to make itself relevant to the locals. As these countries develop, Super can also reposition its products to cater to the more affluent segment of the population, as their current range of coffee products are generally presented to be affordable to the masses, which may appear to be of low standards to some.

Building of brand loyalty is an important concept that Super seems to not have paid much attention to. Some customers are also not willing to pay for much that is why Super uses competitive pricing in several southeast asia markets (Super Media release, 2006), and this is why brand loyalty is so important as an alternative to engaging in a price war.

With customer loyalty comes repeated buying and together brings about benefits such as being able to charge a higher price for the same good, being more viable even when the economy is on the downturn, easier implementation of brand extension etc. In order to successfully build brand loyalty, one important factor is that customer must understand and appreciate the brand identity. By having a simple yet focused brand that customers are able to relate to would win over the hearts and minds of those that stand for the same ideology. Also, there has to be continual communication between Super and the customers in order to satisfy the ever-changing needs and wants of the customers.

References

Books / Journals

2009 “Drinks: Industry Update”. MarketWatch: Global Round-up, Vol. 8 Issue 3, pp31-32.

Juliet Chung, 2009, “Coffee Steeps in Value Marketing Wall Street Journal” Eastern Edition, Vol. 253 Issue 12, pB8.

Full Year Financial Statement for the Year ended 31 December 2007, Tan Cher Liang, Company Secretary, p15.

York, Emily Bryson, 2009 “Via brand will be Starbucks minus the baristas-and the brewing.” Advertising Age, Vol. 80 Issue 6, p3-18

Roger Kerin, Steven Hartley, Eric Berkowitz and William Rudelius (2006) ‘Marketing’, 8th Edition, McGraw-Hill Irwin Publications.

Websites

“SUPER COFFEEMIX Investor Annual.” SUPER COFFEEMIX. http://www.super.com.sg/investor_annual.html (accessed February 20, 2009).

” Super Coffeemix’s 3Q08 Net Profit Jumps 27% to S$6.5 millions.” Flex News Food. http://www.flex-news-food.com/pages/20427/Coffee/Singapore/super-coffeemixs-3q08-net-profit-jumps-27-s$65-millions.html (accessed March 20, 2009).

“2008 Singapore International Ranking.” iesingapore. www.iesingapore.gov.sg/wps/wcm/connect/2d1c06804bcea56ba39ee7134b36e21c/Annex_1-Results.pdf?MOD=AJPERES (accessed March 17, 2009).

“Super Coffeemix Manufacturing Limited << Stock Report.” WallStraits Wines. http://www.wallstraits.com/IntelliSort/stockreport.php?code=S10 (accessed March 1, 2009).

“Singapore super coffee breaking into the Chinese market.” Robroad. http://www.robroad.com/light-industry/global/200712/21241.html (accessed March 5, 2009).

“Latest Financial Updates.” Branding, Design for web and print media.. http://www.stridec.com/~ryu2/super/index.php?option=com_content&view;=article&id;=42&Itemid;=41 (accessed March 14, 2009).