Tyson Foods 2003 Annual Report Download - page 4

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2Tyson Foods, Inc.
In the past two years, we have made huge strides. For a company of our size and complexity, I am extremely pleased
with what the Tyson team has done in such a short time. We introduced 500 new value-added products, reduced debt,
integrated systems, eliminated redundant positions and closed underperforming plants.
Value-Added Products In fiscal 2003 we embarked on an aggressive campaign to increase the percentage of sales
from value-added products from 35 percent to 50 percent over the next three to five years. We’ve had successful
product launches under the Tyson brand in categories where previously we did not have a presence, such as fully-
cooked bacon, self-serve deli meats, luncheon meats, dinner meats, fresh pork, canned broths and bullions. These
new products have added to an already unbeatable product portfolio.
Master Brand Simply put, our branding strategy is to focus on Tyson as our national brand for protein flanked by strong
regional brands such as Wright bacon in the Southwest and Weaver chicken in the Northeast. We are leveraging the
Tyson brand through co-promotions, co-merchandizing and endorser branding partnerships. The brand is supported
with a $100 million marketing campaign including national print and broadcast advertising, consumer promotions and
in-store events. Tyson Foods also produces private label products for customers under a two-tier strategy in which we
provide both branded and private label products to manage the category for better overall growth.
Account Teams Our brand is about giving our customers quality foods they can trust as well as providing the service
and expertise to back them up. Our customers remain our first priority, and we strive to give them “value beyond the
box.” To better serve our customers, we have expanded the account team strategy I told you about last year. The account
team leaders manage the relationships one-on-one, giving our customers access to all of Tyson Foods’ products and
2003
2002
2001
24.5
23.4
10.6
2003
2002
2001
sales
dollars in billions
0.96
1.08
0.40
diluted earnings per share
dollars
2003
2002
2001
820
1,174
511
cash provided by operating activities
dollars in millions