Appendix A

UNIVERSITI TUNKU ABDUL RAHMAN

FACULTY OF BUSINESS AND FINANCE
FACULTY OF ACCOUNTANCY AND MANAGEMENT

(ACADEMIC YEAR 2021/2022)

MAY 2021 TRIMESTER

UBTM1013/UKTM1013 PRINCIPLES OF MARKETING

ASSIGNMENT COVER PAGE

Course Details

Faculty: Faculty of Business and Finance (FBF)

Tutorial Group: Tutorial 3
Tutor’s Name: Ms. Mah Pei Yew

Assignment Details

Company: Top Glove Corporation Berhad

Due date: Week 9, Friday (6th August 2021) before 5:00 PM.

Student Details

Name Student ID Programme Abbreviation

1. Woon Zheng De 2101782 BA

2. Ng Chan Hong 2003994 BA
3. Tneh Kar Seng 2001927 BA
4. Low Xiao Ying 2002123 BA
5. Ng Shi Qin 2102622 BA
6. Too Jing Yu 2101763 BA
7.
Important Note: Submission of assignment is the responsibility of the students. Failure to comply may
result in a zero mark.

`
 Appendix B
UNIVERSITI TUNKU ABDUL RAHMAN
FACULTY BUSINESS AND FINANCE
FACULTY OF ACCOUNTANCY AND MANAGEMENT

(ACADEMIC YEAR 2021/2022)

MAY 2021 TRIMESTER

UBTM1013/UKTM1013 PRINCIPLES OF MARKETING

MARKING SCHEME FOR GROUP PROJECT

Marks Marks
No. Assessment
Allocation Given
Introduction
i) Discuss the company’s background – the company’s history and
5 marks
1. profile, objective, vision, mission, organization structure,
management team, etc.
ii) Identify the target market of the company.

2. Company Internal Analysis

20 marks
Identify TWO (2) strengths and TWO (2) weaknesses of the company.

3. Competitor Analysis
10 marks
Identify and discuss the main competitor of the company.

Marketing Mix
i) Product strategy – Types of products and/or services, product
portfolio, level of products, branding, product support services,
quality, etc.
ii) Price strategy – Discuss the pricing approach used by the
4. 20 marks
company.
iii) Distribution strategy – Discuss how the company distributes its
products and/or services.
iv) Promotion strategy – Discuss how the company promotes its
products and/or services.

Idea Proposal
5. Provide TWO (2) detailed ideas/opportunities for the company to grow 15 marks
further. The ideas must be purely based on students’ ideas.

Conclusion
6. Conclude your assignment and discuss what you have learned from 5 marks
this project.

Quality of the written assignment

7.
Layout, citations and references, language proficiency, originality. 5 marks

TOTAL MARKS 80 marks

Name of Assessor: __________________________________

Signature of Assessor: _______________________________

`
 Contents

No. Particulars Pages

1. Introduction of Top Glove Corporation Berhad
- Company background 2
- Executive Chairman and Founder 2
- Board of Directors 3
- Our Guiding Principles 3
- Senior Management Team 4
- Corporate Structure 5
- Target Market of Top Glove Corporation Berhad 6
2. Company Internal Analysis
- Strengths of Top Glove Corporation Berhad 7
- Weaknesses of Top Glove Corporation Berhad 8
3. Competitor Analysis
- Top Glove Corporation Berhad 9
- Hartalega Holdings Berhad 9-10
- Rubberex Corporation (M) Berhad 10-11
4. Marketing Mix
- Products Strategy 12
- Price Strategy 12-13
- Distribution Strategy 13
- Promotion Strategy 13-14
5. Idea Proposal
- Employee Retention Rate 15
- Possible Competitive Advantages 16
6. Conclusion 17

`
Company Background
Top Glove Corporation Berhad has established in 1991 and is headquartered in Malaysia. It is the world’s
largest manufacturer of gloves. What started as only a local business enterprise with 1 factory and 1 glove
production line, has today captured 26% of the world market share for rubber gloves. The company has
manufacturing operations in Malaysia, Thailand, Vietnam, and China. It also has marketing offices in these
countries as well as the USA, Germany, and Brazil and exports to over 2,000 customers in 195 countries
worldwide. Top Glove Corporation Berhad was listed on the Kuala Lumpur Stock Exchange (now Bursa
Malaysia) in 2001 and Mainboard of the Singapore Exchange (SGX) in 2016. Top Glove has demonstrated steady
growth with a compound annual growth rate (CAGR) of 23.1% for revenue and 28.2% for profit after tax over the
past 20 years. With the help of its 22,000 employees, Top Glove continues to produce high-quality gloves at an
efficient low cost in line with its time-tested Business Direction. Not content to rest on its laurels, Top Glove has
set its sights on higher aspirations which include becoming a Fortune Global 500 Company by 2030. Accordingly,
it continues to expand its business scope and be on the lookout for M&A opportunities in similar and related
industries. (The World’s Largest Manufacturer of Gloves, n.d.)

Executive Chairman and Founder of Top Glove:

Tan Sri Dr. Lim Wee Chai is a Malaysian Businessman. He was

born and raised in the Chinese New Village in Jelebu. Dr. Lim
graduated with a Bachelor of Science Degree with Honours in
Physics from University Malaya. In 2015, he obtained his PhD
in management from the University of Selangor in Malaysia.
(Wikipedia contributors, 2021b) Dr. Lim’s personal motto is
“Work is my Hobby, Exercise is my Duty, Health is my
Wealth”, which keeps him motivated to work and stay healthy
every day. (Asean CSR - Tan Sri Lim Wee Chai, n.d.)

2|Page
 BOARD OF DIRECTORS
From left to right:
1. DATO’ LIM HAN BOON
2. LIM ANDY
3. AZRINA BINTI ARSHAD
4. SHARMILA SEKARAJASEKARAN
5. DATUK DR. NORMA MANSOR
6. DATUK NORIPAH BINTI KAMSO
7. TAN SRI DR LIM WEE CHAI
8. PUAN SRI TONG SIEW BEE
9. DATO’ LEE KIM MEOW
10. TAN SRI RAINER ALTHOFF
11. LIM CHEONG GUAN
12. LIM HOOI SIN

OUR GUIDING PRINCIPLES

VISION: MISSION: BUSINESS DIRECTION:
To be your world class partner in Ensuring safe human protection To Produce Consistently High-
gloves and healthcare products globally Quality Gloves at Efficient Low Cost

CORPORATES VALUE: QUALITY POLICY: BUSINESS ETHICS:

• Respect • Quality & productivity are • Honesty
• Integrity our business • Integrity
• Value • Continuous improvement • Transparency
• Empowerment & innovation are our duties
• Relationship • Towards zero defects is our
target
• Compliance with
customers’ and regulatory
requirements is our
responsibility

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 Senior Management Team

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5|Page
Identify the target market of Top Glove Corporation Berhad

In order to analyse the Top Glove Corporation Bhd’s target market, there can be categorized into four categories:

a. Age Target Marketing

Based on the products sold by the Top Glove Company, most of their products such as sexual wellness products
and home care products are targeted toward those 20 and over.

b. Income Sensitive Marketing

Top Glove Company usually target middle-class consumers and lower-class consumer. Top Glove Company
continues to produce consistently high-quality gloves at an efficient low cost in order to achieve a high perceived
value from their customers. Top Glove Company also cares about the lower-class consumer for conducting sales
promotion, especially in personal care products in order to reduce their financial burden during the Covid-19
pandemic.

c. Gender Specific Marketing

Based on the products sold by the Top Glove Company, they are focusing their marketing effort on males and
females for most of the products, but only the sexual wellness products are targeted at men only.

d. Geographic Target Marketing

Top Glove Company currently exports to more than 195 countries with a geographically diverse customer base
and has 7 distribution hubs globally in the USA, Germany, China, Vietnam, Thailand, Malaysia, and Brazil.
(Investor Presentation, 2021)

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 Company Internal Analysis

Strengths of Top Glove Corporation Berhad

1. Global Market Leader
Top Glove Corporation Berhad is the largest rubber gloves manufacturer in the world. Top Glove has 812
production lines, 50 factories, and 22000 employees, they can produce the products as fast as possible and able
ready to ship off to their customers. Top Glove has the largest global market share of glove industries in the world,
their products have been present worldwide, Top Glove has shipped off their products to 195 countries. Top Glove
is able to produce latex gloves at an efficient low cost and good quality because they adopt the latest manufacturing
techniques by using modern types of machinery. The advanced technology helps them to increase the productivity
and quality of their products and even perform better than the competitors. Meanwhile, Top Glove has been
recognized and awarded by The Asia Pacific Brands Foundation and achieve some achievements in the gloves
industry. Since they have been recognized and awarded, their customer will increase very soon because of their
high brand name, this will help Top Glove to gain more profit over the year and has a good customer line. With
this type of strength, Top Glove can achieve their goal easily which is they hope to become a Fortune Global 500
Company by 2030. Investors will look forward to the future and the share price of Top Glove because of this
strength and they will invest more funds into it.

2. High company reputation

Top Glove has earned a good reputation since its establishment in the year 1991. This is because the gloves
produce by Top Glove are good in quality, the gloves are produced by the employees who have been trained
professionally by the company before they work. Besides, Top Glove also has done some activities to give back
to societies. For example, Top Glove has donated some of its profit as a donation to society, Top Glove also has
giving out scholarships for education to the needy for the past few years. This may help the company to increase
their image, name and get respect from their customers because of the company’s contribution to the societies.
Since Top Glove products are good in quality, there will have many customers repurchase their product and
recommend the product to other people purchase it from Top Glove, this helps Top Glove to build a strong
customer base. Moreover, Top Glove treated their employees very well as their family and have benefits for them.
Top Glove has accommodation for their employees, has a clean working environment for them, and gets an annual
bonus when the company has a high revenue. Meanwhile, there are some customers pay Top Glove in advance,
even before Top Glove ship off the gloves, this is because of Top Glove’s honesty and integrity make this strength
and let the customers trust Top Glove. With this strength, Top Glove can attract more investors to invest in their
company to become their shareholders.

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Weaknesses of Top Glove Corporation Bhd

Weakness analysis is to discover deficiencies that prevent the company from progressing and that must be
addressed or mitigated. This analysis aims mainly to understand the limits of the company and solve them with
effective interventions. Furthermore, the weakness shows that the company does not fulfill the benchmark it was
supposed to accomplish.

One of the obvious weaknesses that can be found in Top Glove company is that they invest heavily in
machinery which could be a liability for TG to pay for this equipment. Top Glove company must make
substantial investments in the purchase of modernized machinery and recruit more competent workers in order to
operate its production (UKessay, 2017). It adopts advanced technologies in its production process to manufacture
its latex gloves. The equipment that they purchase is extremely costly. Additionally, the maintenance of these
machines is therefore relatively pricey, and it will be costly for Top Glove to fix them when there are any small
or big components damaged. The reason behind this is that the components used in the machines are not commonly
used by other producers within the same field or other areas of the field and substitutes for that particular
component are pretty difficult to find. As such, Top glove company has to constantly examine and optimize the
machinery's functionality in order to avoid them from deteriorating very soon.

Furthermore, another weakness that can be analyzed in Top Glove company is that they lack qualified
and skilled employees. It is crucially important for it to employ highly experienced and competent workers with
high salaries to run specific machines and conduct research. Some machinery demands qualified and skilled
individuals and Top Glove company does not simply recruit any employee to operate the equipment as it
requires expertise in the latex industry to operate these machines. Therefore, Top Glove company must spend
even more money on recruiting specialists who run its operations. Besides, having more highly trained
employees will attract new capital investments (Saieed, 2016). This should be driven by focusing on human
capital. In other words, for the business to shift the value chain and be competitive internationally, a greater
percentage of trained workers is necessary. If the company hires more skilled employees, not only will the
economy grow but increase its value chain and attract huge capital investments which will certainly benefit the
company by achieving its company’s goals and objectives in the long run.

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 Competitor Analysis

Competitor analysis is the process of categorizing and evaluating businesses in the market that provide similar
products or services to the company based on a set of established business criteria. Malaysia is the world's biggest
glove manufacturer, supplying around 240 billion pieces of rubber gloves worldwide, or nearly 70% of the 360
billion pieces expected in 2020. Due to the COVID-19 pandemic, medical gloves are seeing an increase in global
demand.
• Top Glove Corporation Bhd

Top Glove is the world's biggest manufacturer of natural rubber. It reported record-breaking achievements in
the fiscal year 2020. The company recorded a 51% increase in sales revenue to RM7.24 billion and a 384% rise
in profit to RM1.79 billion. The enormous development was caused by a global surge in demand for gloves
because of the COVID-19 outbreak.

Top Glove has 800 innovative production lines with a production capacity of 100 billion gloves annually. It
employs around 22,000 employees across 50 industries. The company exports to 195 countries spanning Asia,
Europe, the Middle East, Africa, and the Americas today.

Top Glove is a one-stop glove procurement business that produces rubber and synthetic gloves with great
quality, long-term dependability, and consistency at an affordable price. It not only manufactures gloves, but also
offers home care, personal care, and other products. It has installed a robotic arm to improve manufacturing
efficiency and reduce human employment. Top Glove has continued to upgrade its quality control digital systems
using modern manufacturing technology. It boasts an 89 percent customer satisfaction rate in 2020, which is
measured every six months using an online survey, and a 19 percent response rate.

Top Glove and Global Doctors have collaborated to establish a medical facility in Setia Alam. The TGGD
Medical & Dental Clinic strives to offer the community high-quality primary care, specialty care, and dental
treatments. It also became the first Malaysian rubber glove manufacturer to introduce a dedicated customer portal
to better serve its growing international customer base of over 2,000 customers.

• Hartalega Holdings Berhad

Hartalega Holdings Berhad was established in 1988. It is the world’s largest manufacturer of nitrile gloves.
According to Hartalega’s annual report, revenue increased to RM2.9 billion, while profit increased to RM555.4

9|Page
million. Similarly, the Covid-19 pandemic has resulted in an enormous increase in demand for the company's
goods. The industry is dedicated to expanding its capacity effectively to play an important role in the pandemic
response.

The company is also an original equipment manufacturer that makes high-quality surgical and laboratory
gloves. Hartalega has an annual production capacity of 40 billion pieces of gloves. They have modern technology
and the fastest production lines in the market, allowing them to create more than 45,000 gloves per hour. It has a
human capital of over 8,800 people. Hartalega exports its products to 137 international clients in 39 countries,
including North America (75%), Europe (12%), Asia Pacific (9%), and other regions (4%).

In addition, Hartalega has a highly automated manufacturing system to match the high-speed production lines
and reduce the need for zero human involvement. The product features soft and stretchy nitrile gloves that improve
tactile sensitivity and imitate the properties of natural rubber latex gloves without causing protein allergy
problems. It is also lightweight and cost-effective in a glove for customers. The gloves provide a powder-free
surface finish without the need for typical offline chlorination, resulting in economic benefits.

It developed the Next Generation Integrated Glove Manufacturing Complex (NGC) in Sepang, Selangor, as
a forward-thinking industry, long before its competitors were considering the long-term requirement for capacity
growth.

• Rubberex Corporation (M) Berhad

Rubberex Corporation (M) Berhad has been in operation since 1987. It recorded annual sales of RM415.1
million and a profit of RM131.1 million for the financial year ended December 31, 2020 (FY20). They are a
reliable manufacturer with more than 30 years of expertise. It manufactures natural rubber, synthetic rubber, and
vinyl gloves for professional applications. Rubberex is a rapidly expanding international glove manufacturer with
long-term customers in Europe, North America, South America, and the Asia Pacific. The company's exports
supply over 100 countries. They employ over 800 people.

In conclusion, competitor analysis is an essential component of a company's strategic planning. When

examining competitors' strengths and weaknesses, businesses can use competitor analysis to evaluate their
position. Hartalega was chosen as Top Glove's major competitor because both are the world's largest glove
manufacturers. They have a large manufacturing capacity for creating gloves of superior quality, efficiency, and
safety for their customers. Both are high-tech and development companies with highly trained teams. The industry
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prioritizes quality, efficiency, innovation, research and development, advanced technology, and, most importantly,
its employees. In addition, they have a higher market share: Top Glove has a market share of 26%, while Hartalega
has an 18% market share. Top Glove Corporation's main competitive advantage is reliability, as it is still the
world's largest rubber manufacturer. First, customers will trust Top Glove since it is a well-known brand in our
country. It also focuses on the quality and cost-efficiency of the product. In contrast, Hartalega’s nitrile gloves
have seen falling margins due to high raw material prices. To stay competitive in this industry, the company can
differentiate itself from competitors by adding value to products in some way. The product also can higher quality
than those of their competitors.

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 Marketing Mix

i) Product Strategy
The product type of gloves is industrial products. The consumers of this product are business consumers, and
they are from several industries, from medical treatment to manufacturing and processing. Top Glove is a larger
organization. The main product of Top Glove is gloves. The glove product line includes surgical gloves,
examination gloves, household gloves, food haling gloves, industrial gloves, and supported gloves. (Top Glove

Website,2020）The product support services provided by Top Glove can be by telephone, mail, social media, and

so on. Gloves are good quality and safe to use because the gloves produced by top gloves have received many
certifications. This product is made in line with ASTM D4679-02 and ISO9001:2015 Quality Management System
and QSR (GMP). In addition, it is also sterilized by Gamma-Ray Irradiation or EtO and bioburden and sterility
tested. (Top Glove Website,2020)

The core benefit of surgical gloves is to protect the hands of doctors with extra strength to avoid hand injury
or infection with bacteria and reduce hand fatigue which the design is completely in line with the anatomy. In
addition, the palm surface is slightly roughened to provide excellent wet and dry grip. Secondly, the core benefit
of household gloves is that they can be kept hygienic and skid-proof under wet and dry conditions because they
are made of diamond texture. Furthermore, the core benefit of food handling and industrial gloves is that can

prevent harmful or dangerous substances from being touched at work. (Top Glove Website,2020）The second

level of the product is an actual product. The product features are suitable for both left and right hands, hand
specific, good touch, and flexibility. The product design surface is smooth, the palm and finger surfaces have
diamond texture patterns, and the cuffs are beaded. (Top Glove Website,2020) The third level of the product is
augmented product. Top Glove provides after-sales service for customers. Customers can discover contact
information on the company's website, such as a phone number and an email if they have any inquiries about the
company's products.

ii) Price Strategy

The pricing strategy used by Top Glove is cost-based pricing. Cost-based pricing is a pricing strategy to set
the price of the product according to the cost for producing, distributing, and selling the product. The main glove
products are made of raw materials, such as rubber and latex. Therefore, the price of gloves is affected by the
fluctuation of raw material prices. For example, from October 2019 to early January 2020, the occurrence of fungal
diseases damaged rubber trees, resulting in a decline in the supply of rubber, so the price soared. (Top Glove

12 | P a g e
Annual Report,2020). However, the price of gloves is high because of the high production cost. According to the
cost pricing, we can ensure that the company bears all the costs and indirect costs of making products and make
profits. On the contrary, the company that uses this strategy ignores the demand of customers to set the price of
products, ignoring the importance of customers. In addition, the company did not observe the standard price set
by competitors, which caused the company's business to be unsatisfactory. (Sanjay,2021)

iii) Distribution Strategy

Top glove corporation is the world’s largest manufacturer of glove. Top glove considers the suppliers as their
business partners and a part of the extended Top glove family, and they are always looking for new business
partners to cooperate with its corporation (Top glove website, 2020). The top glove manufacturer has distributed
its products across 195 countries worldwide and has more than 2000 customers (Lim et al., 2021). Besides, Top
glove has 7 distribution hubs globally, which were the USA, Germany, China, Vietnam, Thailand, and Malaysia.
In addition, Top glove had an original equipment manufacturer (OEM) in each country.
The distribution channel of Top glove is as follows: 1) manufacturing > online websites > end users, 2)
manufacturing > business consumers. Top glove distributes 20% of gloves of its brand via the online platform and
directly to the end-users. Through the online platform, Top glove not only available at its own official website but
also available on Lazada and Shopee. Top Glove official websites provide shipping for all orders within Malaysia
and Singapore. Moreover, gloves manufactured by Top glove original equipment manufacturing (OEM)
contributes for 80% of the product portfolio. As well clients of Top glove come from several of industries,
including medical, manufacturing and food processing (Shak. C.H, 2020). Furthermore, Top glove products cater
to the medical profession, surgeons, cleanrooms, and industrial uses, as well as the food industry and beauty
industry. Meanwhile, Top glove corporation used a direct distribution system, which enables them to set up their
own direct distribution channel and reach out to their customers directly.

iv) Promotion Strategy

The promotional mix that Top glove corporation used is as follows: Digital direct marketing and public
relations. The digital direct marketing tools that top glove used is social media. Top glove actively promotes its
products through social media, such as Facebook, Instagram, Top glove official website, and more. It not only can
attract more customers but also can build and maintain a good relationship with their customers through the social
media. For example, Top glove posted advertising of limited offer post on their Facebook and Top Glove official
website. The post is as below ‘Buy 4 get 5 promotion (4 Boxes of the masks + Free 1 Hand Sanitizer)’ at RM74.40
only, and it is limited to 500 sets only (Top Glove Corporation Bhd Facebook, 2020). Customers will easily get
drawn to catchy words like ‘limited offer’ and ‘promotion’. Besides, through social media, websites, Top glove

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can easily post the latest updates of its business, promotions, or information while customers just only have to go
through online by using their phones and can be able to check the newest offerings and others.
At the same time, Top glove corporation also used public relations as its promotional tool. Top glove
Corporation does many campaigns, community services, and sponsorship. For example, Top Glove corporation
had created a Top Glove Foundation (TG Foundation) which contributed scholarships and donations to the various
group that who need help, such as charitable organizations, healthcare-related groups, schools, religious
associations, and universities (Top Glove Website, 2020). Top Glove also runs a blood donation campaign every
year, repair and maintenance work for roads, school redevelopment, and so on, it is adding value to the community.
Community services improve public goodwill by contributing money and time. Moreover, campaigns and
sponsorship help Top Glove corporation builds a reputation, increase brand visibility, and building a community.

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 Idea Proposal

1) Improve the employee retention rate in Top Glove Corporation Bhd.

The employee is one of the most important human resource assets for the organization, which will directly
influence the organization’s image or the quality of outcomes for the business activities. It is said that most of
the employees will work for the company as it provides many benefits than others company. Some employee
retention strategies should be considered by the Top Glove company such as offer the right benefits,
understanding and listening to the employee’s aspirational and feeling, and provide a flexible work schedule.

Firstly, benefits play an essential role in keeping an employee happy, motivated, and healthy. Every worker
wants to feel appreciated for what they have done. An employee’s gratitude may give a huge impact on the
company in terms of the production or the quality of services. Top Glove company should set up a formal
reward system to avoid any unfair situation among the employees and provide incentives to the employees who
have achieved their target. Top Glove company should have the company event such as an annual awards
ceremony or annual dinner to the employees, which the employees may feel they are valued well beyond what
they have contributed to the company.

Besides annual dinners and incentives, Top Glove company should provide a flexible work arrangement to
the employees. A person's daily routine not only focuses on working but also includes personal time such as
communicate with family, exercise with colleagues, etc. Irregular scheduling may lead to work-family conflict
or stress to the employee. Thus, a healthy work-life balance is essential to create job satisfaction and keeping the
employees feel enjoyable about their tasks.

Lastly, it is important that the management team understands and listen to the employees’ aspirational and
feelings. As we know that some people will not be confident in sharing their feelings or suggestion in a public
situation. Ergo, Top Glove company may conduct a survey monthly or semi-annually for the employees to
express their feelings or provide any suggestion regarding the business activities. Top Glove company should
provide consultation services or the other necessary actions to solve the employees’ problems so it can create a
peaceful workplace.

In conclusion, the strategies that have been mentioned above will allow Top Glove company to increase the
employee retention rate. Moreover, it will attract more young talent to join as a member of the company.

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 2) A set of possible competitive advantages for Top Glove company to build a strong position.
Based on the competitive analysis above, we have stated that the main competitor for Top Glove Corporation
Berhad is Hartalega Holdings Berhad. Top Glove company should differentiate itself from the competitor in the
aspect of product, service, and image.

Firstly, based on product differentiation, it consists of features, performance, style and design. According to
the Hartalega official website, we can notify that the company only offers hand protection products to the market
while the Top Glove company actually provides not only hand protection products, but also dental care or
personal care products to the market. Based on the variety of products offered by Top Glove company, it should
not only focus on glove production but need to improve the quality or add new features in terms of dental care or
personal care products. For instance, Top Glove company can design a new body shampoo that is suitable for all
people, no matter kids or older, that can kill the bacteria and also protect our skin from sunlight.

Secondly, it is said that people nowadays not only require a high-quality product but also need efficient and
convenient services from the company. Based on the service differentiation, it consists of speedy or careful
delivery, customer care, etc. According to the Top Glove company website, it provides dental services, primary
care services, corporate medical services, etc. Besides these, it can provide door-to-door services to the people
who needed in the aspect of dental care or health care. Thus, it actually provides convenient and good quality
services to the customers which may increase the satisfaction or loyalty from the customers.

Lastly, image differentiation refers to the image of a company or a brand in the customers’ minds. It is
important to have a positive image about the company so that the people will spread the good information in
terms of its products or services to others, which actually indirectly helps the company to promote itself. It is a
suggestion that the Top Glove company can build a strong position in the market with the help of famous people
such as Datuk Lee Chong Wei or Datuk Nicol David. These famous people play an essential role in helping the
company to advertise or promote its products and services to people, which may help the company to develop its
image differentiation.

In conclusion, it is important for Top Glove company to build a personality around the brand that people
know and immediately think of. Ergo, it may survive in the competitive environment nowadays and maintain its
strong position in the market.

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 Conclusion

In conclusion, we have learned throughout this assignment that an annual report is critical to a company.
The purpose of the annual report is to provide information on a company's operational and financial performance.
Top Glove has evolved from a small industry with a single facility to become the world's largest producer of
rubber gloves. Top Glove was the first rubber glove manufacturer to own its rubber plantation property to ensure
a continuous supply of latex. The financial capability of the company is very stable. Thus, the company must
maintain a solid profit by offering higher-quality rubber gloves to customers in Malaysia and other countries. In
addition, we discussed that sustaining a solid grasp on the market helps with the exportation of products throughout
the world. Top Glove has an appealing core industry with a record of rapid development in the use of rubber gloves
in developed countries and future growth prospects in new markets. The company has positioned itself effectively
for continuous growth in production capacity.

Besides that, competitor analysis is an essential element of a company's strategy development. Top Glove
must understand its consumers, assess the capabilities of its competitors, and develop technological advancement
as a strategic tool. Next, a company may have many markets segment with different characteristic, we studied that
the marketing mix is critical in developing a plan for successfully positioning the product in the market so that the
company can satisfy all the market segment. Moreover, the management team of Top Glove company might make
good use of its strength to enlarge their market share in glove industry to perform better than its competitors and
improve the weaknesses so that it can survive in the competitive environment. We concluded that a company
should be dynamic in the business environment. It can expand its business portfolio, so it needs to make modest
adjustments to its products or services. Lastly, we provided some ideas proposals that might work effectively for
the Top Glove company, lead the company to the direction of success as well as achieve its goals which include
becoming a Forbes Global 500 Company by 2030.

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 References

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https://graduateway.com/top-glove-company-background/
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speakers/373-tan-sri-lim-wee-chai
Borad, S. B. (2021, March 22). Cost-Based Pricing – Meaning, Types, Advantages and More.
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Hartalega. (n.d.). Annual Report 2020.
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