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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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 ↓
EXTERNAL ENVIRONMENTMACRO AND MICRO ENVIRONMENTAL FORCES
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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↑ /↓
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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 ENVIRONMENTMACRO AND MICRO ENVIRONMENTAL FORCES
EXTERNAL ENVIRONMENTMICRO AND MACRO ENVIRONMENTAL FORCES
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
EXTERNAL ENVIRONMENTMACRO AND MICRO ENVIRONMENTAL FORCES
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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 Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
PRICE ELASITICTY OF CUSTOMERS DEMAND
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
PRICE ELASITICTY OF CUSTOMERS DEMAND
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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 Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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
Festival promoReview on promo
Festival promoReview on promo
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
The Taste of Original Hong Kong in ChocolateThe Taste of Original Hong Kong in Chocolate
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