2. PROJECT OBJECTIVE
Background
Going to operate a local chocolate shop
Conduct a marketing plan for our business
Objectives
Analysis the external environment to find out opportunities and threats
Conduct a potential customer analysis
Propose a marketing mix ( 4P )
Draw a appropriate marketing strategies with justification
The Taste of Original Hong Kong in Chocolate
3. BUSINESS CONCEPT
MISSION, FOCUS AND OBJECTIVES
Mission
Make every chocolate-lover addicted to our gorgeous products
Create a precious moment for customers to spend with their love one
Focus
Provide the finest chocolate and a unique experience
Corporate responsibilities
Make profits
Business Objectives
Achieve break-even in 2 years
Increase market share within 2 years
Keep growth in sales volume 2-3%
Retain 20% of customers
The Taste of Original Hong Kong in Chocolate
4. EXTERNAL ENVIRONMENT
MACRO AND MICRO ENVIRONMENTAL FORCES
Demographic
Both men and women like to eat chocolate
Economic
Middle class consumers in Hong Kong : purchasing power↑
→ willing to pay more for quality products↑
Ecological
Bad and hotter weather ↑
→ the supply and quality of cocoa bean ↓
The Taste of Original Hong Kong in Chocolate
5. EXTERNAL ENVIRONMENT
MACRO AND MICRO ENVIRONMENTAL FORCES
Technology
E-marketing: Facebook, Twitter or forums↑
Group buying ↑
Political-legal
The political situations of cocoa beans exporting countries are unstable
→ affect the supply of cocoa bean↑ /↓
The Taste of Original Hong Kong in Chocolate
6. EXTERNAL ENVIRONMENT
MACRO AND MICRO ENVIRONMENTAL FORCES
Social-cultural
Festival spending ↑
Living standard and taste : spending on high quality product↑
Prestige and recognition
→ Spending on more luxurious and well-packed gifts ↑
Cultural fusion of East and West: Popularity↑
Wedding spending ↑
→ Spending on buying personalized wedding gifts ↑
Demand of cocoa bean increases ↑
→ Chocolate for wedding and corporation ↑
Public
Consumer awareness of Fair Trade in Hong Kong ↑
→Spending on the organic and fair trade products↑
The Taste of Original Hong Kong in Chocolate
7. EXTERNAL ENVIRONMENT
MICRO AND MACRO ENVIRONMENTAL FORCES
Competitor analysis
Chocolatier Affection Company Limited
Strengths
Reasonable price Tailor-made and unique chocolate
Match up healthy style trend Variety of product line
Well designed products packaging Make use of technology
Location advantage Location advantage
weaknesses
X websites has been under construction X Lack of promotion
X Lack of corporate responsibility
The Taste of Original Hong Kong in Chocolate
8. EXTERNAL ENVIRONMENT
MACRO AND MICRO ENVIRONMENTAL FORCES
Opportunities
For the target customer
Both gender
Middle class
For the product
High quality and various chocolate
Organic Fair Trade chocolate product line
Festivals collections
Tailor-made chocolate for wedding gift and corporations
Add some Chinese elements on our chocolate
It can be one of the gimmicks of our shop
The Taste of Original Hong Kong in Chocolate
9. EXTERNAL ENVIRONMENT
MACRO AND MICRO ENVIRONMENTAL FORCES
Opportunities ( con’d )
For the packaging
Offer more luxurious well-packed gifts
For the promotion
E-marketing: Facebook, Twitter, Forums
Group buying
The Taste of Original Hong Kong in Chocolate
10. EXTERNAL ENVIRONMENT
MACRO AND MICRO ENVIRONMENTAL FORCES
Threats
For the cost of raw materials
Unstable political and natural factors
→ Unstable supply
→ Production cost may ↑
Promoting fair trade and organic products
→relatively pay more to the cocoa farmers
→ Production cost↑
Longer business operation history of our competitors
→ Restrict the market share and competitiveness
The Taste of Original Hong Kong in Chocolate
11. TARGET MARKET
RIGHT PRODUCT FOR OUR TARGET CUSTOMERS
Need of the market
Reduce anxiety and stress level
Seeks for the feeling of pleasure
To stay awake, and boost energy for work
Present chocolate as an appreciation
The Taste of Original Hong Kong in Chocolate
12. TARGET MARKET
RIGHT PRODUCT FOR OUR TARGET CUSTOMERS
Young Professionals Wedding Couples Corporate Customers
University graduates females University graduates females University graduates who
and males between 23-38 in the and males between 23-38 in the belong to working class or
working class or middle class working class or middle class middle class and work at either
small-medium firms or medium-
large firms.
They are demanding towards Seek for products Attention on the packaging of
products and services diversification, excellent the products
services
Favor products comprised with Attention on the packaging of Specific request (e.g. company’s
East and West elements the products logo) on products
Read about others’ experiences Tend to visit diff. shops to Prefer all-in-one service
via Internet compare the price
Prefer all-in-one service
The Taste of Original Hong Kong in Chocolate
13. PRODUCT
THE CHINESE THEMED COLLECTION
The Chinese Themed Collection
Different ingredients
White chocolate, milk chocolate, dark chocolate, chocolate with almond, milk
chocolate with Hazelnut, milk chocolate peanut etc
Chinese characters
12 animals of the Chinese zodiac: Chinese Dragon and tiger
Other Chinese characters : money, beautiful
Messages in Chinese: ‘Happy Birthday’, ‘Thank you’ , ‘I’m sorry’
3D designs
Chocolate dim sum: chocolate steamed prawn dumplings, chocolate Chinese
birthday buns
Chinese feature designs chocolate: a set of Chocolate Chinese chess, chocolate
Chinese Warriors, chocolate Chinese tea set
Packaging
Chinese takeout boxes with traditional designs and small bamboo steamers
The Taste of Original Hong Kong in Chocolate
14. PRODUCT
OTHER COLLECTIONS
Fair trade and organic collection
Healthy chocolate bars
Concerning of social responsibility
Tailor Made collection
For corporations and couples
Personalized collection
Festival collection
For different festival
Eg: Chinese New Year
Chinese Dragon Boat Festival: chocolate dumpling
The Taste of Original Hong Kong in Chocolate
16. PRICE
ELASITICTY OF CUSTOMERS DEMAND
Competitor-based pricing
Set price based on our competitors
Competitors successfully gain certain market share
Price close to our competitors
→ Not to bear a risk of losing market share to competitors
Quantity Pricing
The most purchase, the more discount
Encourage bulk purchase
→ boost the sales
The Taste of Original Hong Kong in Chocolate
17. PRICE
ELASITICTY OF CUSTOMERS DEMAND
Pricing Stratygy
Right price for Right customers
Lower price for Chinese Themed Collection and Festival Collection
Moderate price for Fair Trade and Organic Collection
Less than $10/pcs on average
Higher price for Tailor-made product
High spending customer: wedding couples and corporate clients
High quality tailor-service
→most expensive item
The Taste of Original Hong Kong in Chocolate
18. PLACE
DISTRIBUTION CHANNALS
The One (Tsim Sha Tsui)
An upscale mall
Nearby bridal and wedding shop
High accessibility
Central Business District
→attract young professional
The Taste of Original Hong Kong in Chocolate
19. PROMOTION
INFORMATIONAL SOURCE BASED CHANNAL
Website
A Chinese atmosphere fulfilled website to develop a brand image
Magazine
Build up customers’ confidence in product and arouse their desire
Group Buying
50% discounted price for customers’ to establish brand recognition in short time
within a limited quota
Social Network
Using Facebook and Pinterest to allow recommendation and exchange of
information to infiltrate the market
Email
Mainly focus on target corporate customers through a well designed leaflet
The Taste of Original Hong Kong in Chocolate
20. MILESTONE
PLANNING FOR THE ENTIRE YEAR
Magazine
Review on magazine Review on
Festival promo
promo customer and
Review on Festival promo
E-brochure purchasing
promo Review on promo
Review on behavior
E-brochure
purchasing behavior E-brochure
April May June July Aug Sept Oct Nov December Jan Feb March
Festival promo
Review on promo Festival promo
Group buying E-brochure
Review on sales & Review on promo
accomplishment Review on
Festival promo
E-brochure purchasing
Review on promo
E-brochure behavior
Social network promo
Customer survey
The Taste of Original Hong Kong in Chocolate
21. PROMOTIONAL VIDEO
VIDEO DESCRIBING OUR BRAND IMAGE AND CONCEPT
http://www.youtube.com/watch?v=kIvTLI3QvCY
The Taste of Original Hong Kong in Chocolate