Identifying Opportunities for Achieving a Competitive Advantage in Singapore Today

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Identifying Opportunities for Achieving a Competitive Advantage in Singapore Today Introduction Today, Singapore enjoys a thriving free market economy and represents an important financial center for Southeast Asia. In this environment, it is not surprising that dozens of new businesses are opening each week in Singapore to take advantage of these boom economic times, including Western operations such as Starbucks and McDonalds, which offer fast service and a known quality. As the shop owner of a cafe in a quiet part of Singapore that serves a range of snacks, simple meals and non alcoholic beverages, the competition from these global brands may signal the beginning of the end unless aggressive marketing steps are taken today. To this end, this paper provides a review of the relevant peer-reviewed and scholarly literature to develop a marketing plan for such a café in Singapore, followed by a summary of the research and important findings in the conclusion. Review and Discussion Marketing plans for small companies should include a positioning statement that is congruent with their business plans and address segmentation in order to effectively target their market (Solomon, 2011). The positioning statement for the Singapore café in question would therefore emphasize world-class customer service as a way to differentiate this small business from encroachments by competitors such as Starbucks and McDonalds. Fortunately, this aspect of the marketing plan can be highly

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