mkting(lorraine19 mar) 4

MARKETING PLAN HONG-COLATE

PROJECT OBJECTIVE

The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate

BackgroundBackground Going to operate a local chocolate shop Conduct a marketing plan for our business

ObjectivesObjectives 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

BUSINESS CONCEPT MISSION, FOCUS AND OBJECTIVES


MissionMission Make every chocolate-lover addicted to our gorgeous products Create a precious moment for customers to spend with their love one

FocusFocus Provide the finest chocolate and a unique experience Corporate responsibilities Make profits

Business ObjectivesBusiness Objectives Achieve break-even in 2 yearsAchieve break-even in 2 years Increase market share within 2 yearsIncrease market share within 2 years Keep growth in sales volume 2-3%Keep growth in sales volume 2-3% Retain 20% of customersRetain 20% of customers

EXTERNAL ENVIRONMENTMACRO AND MICRO ENVIRONMENTAL FORCES


Demographic Demographic Both men and women like to eat chocolate

Economic Economic Middle class consumers in Hong Kong : purchasing power↑ → willing to pay more for quality products↑

Ecological Ecological Bad and hotter weather ↑ → the supply and quality of cocoa bean ↓



Technology Technology E-marketing: Facebook, Twitter or forums↑ Group buying ↑

Political-legal Political-legal The political situations of cocoa beans exporting countries are unstable

→ affect the supply of cocoa bean↑ /↓


Social-cultural 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 ↑

PublicPublic Consumer awareness of Fair Trade in Hong Kong ↑ →Spending on the organic and fair trade products↑


EXTERNAL ENVIRONMENTMICRO AND MACRO ENVIRONMENTAL FORCES


ChocolatierChocolatier Affection Company Affection Company LimitedLimited

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

Competitor analysisCompetitor analysis


OpportunitiesOpportunitiesFor the target customerFor the target customer

Both gender Middle class

For the productFor 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



Opportunities ( con’d )Opportunities ( con’d )For the packagingFor the packaging

Offer more luxurious well-packed gifts

For the promotionFor the promotion E-marketing: Facebook, Twitter, Forums Group buying

EXTERNAL ENVIRONMENT MACRO AND MICRO ENVIRONMENTAL FORCES


ThreatsThreats For the cost of raw materialsFor 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

EXTERNAL ENVIRONMENT MACRO AND MICRO ENVIRONMENTAL FORCES

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

TARGET MARKET RIGHT PRODUCT FOR OUR TARGET CUSTOMERS


Young Professionals Wedding Couples Corporate Customers

University graduates females and males between 23-38 in the working class or middle class

University graduates females and males between 23-38 in the working class or middle class

University graduates who belong to working class or middle class and work at either small-medium firms or medium-large firms.

They are demanding towards products and services

Seek for products diversification, excellent services

Attention on the packaging of the products

Favor products comprised with East and West elements

Attention on the packaging of the products

Specific request (e.g. company’s logo) on products

Read about others’ experiences via Internet

Tend to visit diff. shops to compare the price

Prefer all-in-one service

Prefer all-in-one service

PRODUCT THE CHINESE THEMED COLLECTION


The Chinese Themed CollectionThe Chinese Themed Collection Different ingredients

White chocolate, milk chocolate, dark chocolate, chocolate with almond, milk chocolate with Hazelnut, milk chocolate peanut etc

Chinese characters12 animals of the Chinese zodiac: Chinese Dragon and tigerOther Chinese characters : money, beautifulMessages in Chinese: ‘Happy Birthday’, ‘Thank you’ , ‘I’m sorry’

3D designsChocolate dim sum: chocolate steamed prawn dumplings, chocolate Chinese birthday bunsChinese feature designs chocolate: a set of Chocolate Chinese chess, chocolate Chinese Warriors, chocolate Chinese tea set

PackagingChinese takeout boxes with traditional designs and small bamboo steamers

PRODUCT OTHER COLLECTIONS


FFair trade and organic collectionair trade and organic collection Healthy chocolate bars Concerning of social responsibility

Tailor Made collectionTailor Made collection For corporations and couples Personalized collection

Festival collectionFestival collection For different festivalEg: Chinese New Year Chinese Dragon Boat Festival: chocolate dumpling

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



Pricing Stratygy Right price for Right customers

Lower price for Chinese Themed Collection and Festival Collection

Moderate price for Fair Trade and Organic CollectionLess than $10/pcs on average

Higher price for Tailor-made productHigh spending customer: wedding couples and corporate clientsHigh quality tailor-service

→most expensive item

PLACE DISTRIBUTION CHANNALS


The One (Tsim Sha Tsui) An upscale mall Nearby bridal and wedding shop High accessibility Central Business District

→attract young professional

PROMOTION INFORMATIONAL SOURCE BASED CHANNAL


WebsiteWebsiteA Chinese atmosphere fulfilled website to develop a brand image

MagazineMagazineBuild up customers’ confidence in product and arouse their desire

Group BuyingGroup Buying50% discounted price for customers’ to establish brand recognition in short time within a limited quota

Social NetworkSocial NetworkUsing Facebook and Pinterest to allow recommendation and exchange of information to infiltrate the market

EmailEmailMainly focus on target corporate customers through a well designed leaflet

MILESTONE PLANNING FOR THE ENTIRE YEAR


April May June July Aug Sept Oct Nov December Jan Feb March

Festival promoReview on

promoE-brochure

Review on customer and

purchasing behavior

Group buying

Festival promoReview on promoReview on sales & accomplishment

E-brochure

MagazineReview on magazine

promoE-brochureReview on

purchasing behavior

E-brochure

Festival promoReview on promo

E-brochure



Review on purchasing behavior

E-brochure

Social network promoCustomer survey

http://www.youtube.com/watch?v=kIvTLI3QvCY

PROMOTIONAL VIDEO VIDEO DESCRIBING OUR BRAND IMAGE AND CONCEPT


mkting(lorraine19 mar) 4

Education

dark chocolate

finest chocolate

present chocolate

hong kong spending

unique chocolate match

milk chocolate peanut

local chocolate shop

external environmentmacro