Medium and small companies have been greatly affected by the economic crisis. In the face of financial difficulties, consumers may choose to make their own Soya milk, bean curd, or grass jelly by buying ingredients like Soya beans and fruit juice and blending them together to create a final product found in supermarkets or convenience stores. This presents a potential danger for Mr. Bean, which is one of the leading companies specializing in Soya bean-based products.
Mr. Bean offers a range of popular products including Soya milk, ice-cream, and flavored Soya milk with fruit juice. The company places a strong emphasis on providing fresh products and therefore must ensure continuous preservation. This is also followed by other companies like F&N or Kopa. As a result, Mr. Bean must differentiate itself by offering unique features for each product. Another consideration is the availability of fresh ingredients as the Singaporean government prioritizes food hygiene and safety.
Mr. Bean is a reputable company that has earned consumer trust through its production of fresh soybean-based products. Since 1995, this brand has firmly established itself in the minds of customers and remains influential. Currently, the company’s primary emphasis is on importing materials for production while also ensuring their origin and understanding farmers’ cultivation methods. Due to the economic recession, expenses are rising across the board, including employee salaries which need to be increased to assist with covering these costs.
The company’s future plans may be impacted by the salary increase, leading to a decrease in profits. Additionally, Mr. Bean has encountered material cost issues. Furthermore, it is crucial for the company to acknowledge its societal impact. Customers will view favorably a company that aims to enhance people’s lives. Hence, the company should participate in more social activities to aid individuals facing hardships.
