Chocolicous The Joy of The Best Taste
Chocolicous The Joy of The Best Taste
Chocolicous The Joy of The Best Taste
4 Ps of Marketing
Product: The chocolate itself is the product. This includes the type of chocolate, such as milk,
dark, or white, as well as any additional ingredients or flavors. The various products are as
follows.
Churchie Chocolate: A mix of Dark chocolate with peanuts and rice balls
Fruit N Nut: Compound of dark chocolate mixed with dry fruits like cashews, almonds & raisins
Choco Truffle: Chocolate balls made in white dark and milk chocolate compound.
Price: The price of chocolate can vary widely based on factors such as the quality of the
chocolate, the brand, and the packaging.
Skimming Pricing: These prices are set high to benefit out of consumer’s demand for a new
product or design at any cost. Choco Truffle, Red velvet, and Peanut butter are some examples of
products that are kept at a somewhat higher level than the competition.
Economy Pricing: Chocolicous produces variations of its major goods in order to appeal to a
broad audience. Under this segment, we find products such as crunchie chocolate and fruit n nut
that are reasonably priced.
Bundle Pricing: This approach is used to sell a bundle of items at a presumably lesser cost than if
the customers bought the items separately. Such a bundle of several products is prominent during
holiday and festival seasons.
Peanut Caramel is for Rs. 135 Peanut Butter is for Rs. 140
Red velvet is for Rs. 130 Choco Truffle is for Rs. 145
Place: Our products are supplied from local bakeries to supermarkets across all over the country.
Both urban and rural regions have access to the items. We’ve seen that this has aided the
company’s growth. The distribution points have made the items available to many consumers,
resulting in a profit for the firm in terms of both customer base and revenue. We also sell a
variety of products in different countries, and the decision to sell which product in which nation
is dependent on demographic considerations, production costs, demand volatility, and the
presence of competitors.
Promotion: Promotion refers to the marketing and advertising of the chocolate. This could
include social media ads, print ads, or even product placements in movies or TV shows. The
company has a keen eye for detail and relies heavily on emotional advertising campaigns to
connect with its target audience, which has been the key to its success. Campaigns include “The
Joy of the Best Taste,” a slogan that appears on their celebrations-themed chocolates.
International Market
Our company was incorporated in the year 2019 and having commenced operations in 2020. The
first factory was built in Bandra. We aimed to provide the market with the finest chocolate,
cocoa, and cocoa derivatives. Currently, Chocolicous Company is the largest chocolate producer
in the Middle East. With our team of experts in chocolate production, we have managed to reach
state-of-the-art chocolate production. The confectionery industry in Singapore develops at a high
rate. The growth level was 20% annually (Koh). The largest importers of chocolate and sugar are
the US, North Asia, the EU, and Australia. Of the entire food consumption in Singapore,
confectionery has the largest percentage growth. As lifestyles in the Asia Pacific area become
enhanced, people’s taste choices are altering accordingly. Growing urbanization and income
levels among the citizens of Singapore are the main agents for market expansion. Along with
other Asia Pacific regions, Singapore is assumed to be a fast-expanding market owing to high
demand. Changing consumer choices lead to increased sales, which require thorough approaches
to expansion strategy development. The current leading chocolate manufacturers include Ferrero
Group, Mondelez International, Hershey Foods Corporation, Meiji Co Ltd, Arcor, Nestle, and
others. With the current expansion of chocolate products in Singapore, Chocolicous could take
advantage of the situation and enter the confectionery market with further development plans.
There is a diversity of entry modes into the international market, each of them having advantages
and disadvantages. Taking into consideration the aspirations of Chocolicous and the target
market, exporting seems the most suitable solution at this point.
Exporting is the business entry strategy that allows products to be sold directly to foreign
companies by the domestic company. Direct exporting is a better approach than indirect for our
company as this mode presupposes that production, sales, and delivery are performed solely by
the firm without any intermediaries. The benefits of direct exporting are numerous, the first one
being the high return of the company’s investment due to the absence of a third party. Such an
approach facilitates lower prices for the products, which are therefore more competitive.
Additionally, a face-to-face relationship with clients becomes possible. Direct exporting requires
no investment in foreign production resources, which minimizes the investment hazards and
market entry delay. Employing this strategy enables the company to access data about foreign
market competition and prepares it to deal with seasonal market inconstancies. Finally, exporting
mode decreases the company’s dependence on the already-established markets. While bringing
many advantages, the chosen strategy also has some limitations which should be taken into
consideration. First, it may be more costly because of transport tariffs and marketing expenses.
Also, there may be a restricted admission to local data as the company will be considered a
stranger. There is also a necessity to cultivate customer infrastructure in a foreign country. Other
challenging tasks include the necessity to source clients, the possibility of losing control over the
market, and any obstacles to reducing trade barriers. However, with proper management
approaches, the disadvantages of the entry mode will be eliminated, and the advantages will
bring about the best solutions for the company. The rationale for the chosen entry strategy
includes a thorough consideration of the company’s possibilities, calculating the benefits and
predicting possible disadvantages, and coming up with the initial suggestions of target markets.
To reach the international market, Chocolicous needs to have several departments in its
organizational structure. There should be such sections as human resources, sales, accounting,
transporting, logistics, and design. Each department will have its workload and will report its
activity to senior management. Thus, a hierarchy of managerial staff is also needed. The
president of the company will accept the reports from the vice-president. All the managers will
be accountable to the vice-president. The leadership board will regulate the division of the
responsibilities between the departments.
One of the advantages of the functional organizational structure is the possibility of exchanging
ideas and experience among employees of any given department. Another benefit of this
arrangement is high productivity and efficacy due to the workers’ defined tasks. Still, this
structure has some limitations. For instance, there is a limited possibility for teamwork and poor
coordination among the departments. However, with proper approaches, the company will make
use of the functional structure’s advantages and will limit the constraints.
When entering international markets, Chocolicous consider several modes of entry.
Here are some of the options:
Exporting: This involves selling products from the domestic market to customers in the
international market. This mode is generally less risky and less expensive than other modes of
entry, but may face trade barriers, shipping costs, and competition from local brands.
Licensing: This involves allowing a foreign company to use Chocolicous' brand and technology
to produce and sell its products in the foreign market. Licensing allows Chocolicous to leverage
the expertise and local market knowledge of the foreign partner but may result in a loss of
control over the brand and quality of the products.
Franchising: This involves allowing a foreign company to use Chocolicous' brand and business
model to operate its own stores in the foreign market. Franchising allows Chocolicous to expand
quickly and with less capital but may also result in a loss of control over the brand and quality of
the products.
Joint ventures: This involves partnering with a local company in the foreign market to create a
new entity that combines the strengths of both companies. Joint ventures allow Chocolicous to
access local market knowledge, resources, and distribution channels, but may also result in
conflicts over control and decision-making.
Direct investment: This involves Chocolicous setting up its own operations in the foreign market,
such as building its own production facility or acquiring a local company. Direct investment
allows Chocolicous to have full control over the brand and quality of the products but may be
more expensive and riskier than other modes of entry.
The best mode of entry for Chocolicous depend on factors such as its financial resources, risk
appetite, market knowledge, and strategic objectives. The company conducts a thorough analysis
of the potential benefits and risks of each mode before deciding.
PESTLE Model
The PESTLE model is a tool used to analyze the external factors affecting a company's
operations. Here's how it is applied to Chocolicous:
Political factors: Government policies and regulations, such as taxes and import/export laws,
impact Chocolicous' operations and profitability.
Political stability and instability can also affect the company's operations, especially if it operates
in countries with unstable governments.
Economic factors: Economic conditions, such as inflation, interest rates, and economic growth,
have an impact on Chocolicous' sales and profitability.
Consumer income levels also affect the company's sales and demand for its products.
Sociocultural factors: Changes in consumer preferences and lifestyles affect Chocolicous' sales
and demand for its products.
Trends in health and wellness also have an impact on the company's operations and product
offerings.
However, the company also face challenges if it is unable to keep up with technological
advancements.
Legal factors: Chocolicous comply with laws and regulations related to food safety, labeling, and
advertising.
Intellectual property laws can also impact the company's operations, especially if it has
trademarks or patents for its products.
Environmental factors: Chocolicous considers the environmental impact of its operations, such
as the use of packaging materials and the sourcing of raw materials. Consumer awareness of
environmental issues also affect the company's reputation and demand for its products.
Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.
Alternative Proxies: