Executive Summary Starting A Business With A Curry Puff

10executive Summarystarting A Business With A Curry Puff Old Chang

Starting a business with a curry puff, Old Chang Kee now has established itself as the leader in the local food provider market in Singapore. The usage of cost leadership is their basic strategy to combat competition with their immediate competitors. The ever flourishing food market in Singapore has had numerous food chains opening up and closing yet Old Chang Kee has made its footprint all over since 1956 and has survived. This report explores the brand awareness along with comparison of their brand inventory for measuring brand equity of Old Chang Kee along with recommendations for its future benefits. Online surveys and direct interviews were conducted to evaluate Old Chang Kee’s brand awareness, the level of quality satisfaction it provides, judgement, and brand-feel, brand image, and last but not least the brand loyalty.

Both qualitative and quantitative data analysis has been done to get information about the company as well as its customers. Customer-based brand equity (CBBE) model and brand knowledge model were the theories used to evaluate brand equity. When we compared the brand exploration, it was evident that Old Chang Kee was leading in its brand awareness though it lacked in brand resonance. Old Chang Kee is quite strong when its connection comes with its customers and it’s quite ahead in brand inventory and awareness compared to its competitors. After the analysis, the report lays down marketing programs and solutions for the challenges that Old Chang Kee faces today to improve customer loyalty and internal management consistency.

Old Chang Kee needs to concentrate on its internal management of employees in their training. To conclude, Old Chang Kee needs to strengthen its brand loyalty for its customers using more loyalty programs.

Paper For Above instruction

The success of Old Chang Kee, a Singaporean food brand renowned for its iconic curry puffs, exemplifies strategic brand management and the importance of understanding consumer perceptions in maintaining competitiveness in a saturated food industry. Since its inception in 1956, Old Chang Kee has positioned itself as a cost-leader by offering affordable, high-quality snacks, primarily through a broad network of outlets across Singapore and neighboring countries. The company's strategic focus on brand awareness, customer perception, and loyalty has helped it withstand intense market competition and evolving consumer tastes.

Historical Context and Brand Evolution

Old Chang Kee's roots trace back to a small coffee shop stall operated by Chang Chuan Boo, a Hainanese immigrant. The pivotal change occurred in 1986 when Han Keen Juan acquired the business, revitalizing its brand and modernizing operations. This transformation allowed Old Chang Kee to expand its product line beyond its famous curry puff to include a diverse menu consisting of fishballs, chicken nuggets, laksa, nasi lemak, and more. Their strategic diversification aimed at capturing a broader customer base, including families, young professionals, and tourists.

Market Positioning and Consumer Perception

With an emphasis on affordability, Old Chang Kee maintains product prices between $1 to $2, making it accessible to a wide demographic. Its positioning as a value-for-money brand has garnered positive consumer perceptions, leading to high brand awareness, particularly among the local population. According to the Customer-Based Brand Equity (CBBE) model, this perception significantly contributes to brand loyalty and purchase intent. However, despite strong awareness, the brand faces challenges in building deeper customer resonance and emotional connection, which are critical for sustained competitive advantage.

Operational Strategies and Quality Assurance

Operational excellence is central to Old Chang Kee's brand promise. The company emphasizes quality control, obtaining HACCP certification to ensure food safety and hygiene. Its focus on maintaining high standards in raw material handling, processing, and sanitation builds consumer trust. Location strategy also plays a crucial role, with outlets strategically placed in malls, petrol stations, and food courts to maximize visibility and convenience. The expansion into Malaysia, China, and other markets demonstrates an ambition for regional growth, leveraging its strong brand recognition and proven product appeal.

Financial Performance and Market Challenges

Recent financial data indicate a slowdown, with revenue decreasing slightly and profit declining due to operational costs and store closures. The firm's investment in new factory facilities aims to streamline production and support future expansion, alongside facing rising lease and labor costs. The competitive landscape has intensified with new local and international entrants offering similar snack products, challenging Old Chang Kee to innovate continuously and adapt to changing consumer tastes.

Brand Equity Evaluation and Recommendations

Using the brand knowledge and customer-based brand equity models, Old Chang Kee's brand awareness is very high; however, brand resonance—or emotional connection with customers—is less developed. To strengthen brand equity, Old Chang Kee must focus on enhancing customer engagement and loyalty. Implementing targeted loyalty programs and personalized marketing can foster deeper bonds. Internally, improved employee training and consistent service quality are critical to ensuring the customer experience aligns with brand promises.

Future Strategic Directions

To sustain its leadership, Old Chang Kee should consider expanding its menu to include healthier options aligned with health-conscious trends, possibly introducing vegetarian or low-calorie items. Investing in digital marketing and social media engagement can help attract younger consumers and tourists. Additionally, exploring e-commerce platforms to offer online ordering and delivery services will tap into the growing digital demand. Regional expansion should be preceded by thorough market research, including taste preferences and cultural considerations, to reduce risks and tailor offerings accordingly.

Conclusion

Old Chang Kee's journey illustrates that maintaining a strong brand requires a strategic mix of operational excellence, positive consumer perception, and continuous adaptation to market dynamics. While its brand awareness remains robust, deepening customer loyalty and resonance will be vital for long-term success. By refining internal management, leveraging technology, and innovating product offerings, Old Chang Kee can solidify its competitive advantage and expand regionally, ensuring the brand remains a beloved staple of Singapore’s culinary landscape.

References

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