Monday, November 12, 2007 VFI to present new products
CEBU-based meat processor Virginia Food Inc. (VFI) plans to increase its 15 percent annual growth in 2006 with the introduction of three more meat products this year.
VFI vice president for sales and marketing Stanley Go said the company will introduce before the end of the year three frozen meat products that are 90 percent fat-free.
The new products will cater to health-conscious consumers.
“We want to build our home-base market, which is Cebu. We want to develop more brand recall through our products,” Go said.
He said five percent of the 15 percent growth rate the company has been enjoying since 2005 is due to brands like the Virginia corned beef loaf, chorizo de Cebu, chicken hotdog, meat balls and beans, and El Rancho burger patty, among others.
Strengthen market
The introduction of additional products will increase VFI’s strong performance in the Philippine market for frozen meat products, Go said.
He said frozen products account for 60 percent of the company’s annual sales growth while 40 percent are contributed by canned goods.
“The big chunk of the business is on hotdogs,” Go told reporters during the launching of the Happy Booster hotdog at the SM City Cebu last Friday.
The company produces an estimated 25 tons of hotdogs per day, distributed all over Visayas and Mindanao.
“We also want to strengthen our canned products,” Go said.
He said the company chose the El Rancho Corned Beef Loaf as its flagship product under the canned goods variances for its uniqueness.
VFI carries the Virginia, Winner, El Rancho and Champion brands.
Go said the Virginia brand caters to the “premium” or high-end market, Winner for the middle-end market, while El Rancho and Champion for the mass market.
Research
The Virginia and Winner brands, in particular, are popular among Cebuanos, while Champion and El Rancho are considered “strong” in Iloilo, Samar and Leyte, he added.
Go revealed that VFI is planning to penetrate Luzon as well as the international market in the middle of next year.
This, he said is the reason the company is actively investing in research and development as well as brand recall.
In preparation, he said VFI is now working on acquiring accreditations and certifications including the Hazzard Analysis Critical Control Point.
The company is eyeing to export to other Southeast Asian countries.
Recently, the National Meat Inspection Services named VFI the Best Meat Processing Plant in the region, Go announced. (MMM)
