JB Choco Chocolates
Executive Summary 2
Mission Statement 3
Description of the Product or Service 4
What Makes Us Different 4
Risk and Risk Mitigation strategies 5
Legal Issues 5
Political Issues 5
Cultural Issues and Influences 5
Risk Mitigation Strategies 6
Target Market Analysis 6
Market Entry Strategies 7
Product and Pricing Strategies 9
Product Alignment 9
Product Positioning 9
Pricing Strategy 9
Distribution and Customer Service Strategies 10
Promotion Strategies 10
Public Relations 11
Conclusions and Recommendations 12
JB Choco provides a high quality chocolate product that consumers across North America have enjoyed for the last decade, but the time has come for us to target new markets. Market expansion into the Chinese market is the next step for JB Choco. With a population of over a billion residents, we need to expand our product offers, to jump into this new market.
Though China’s emerging chocolate market will present new and strong difficulties, with tens of millions of new consumers emerging each year, our companies will have more opportunity than ever to build a long, sustainable and profitable Chinese division.
JB Choco Chocolates is looking to expand its brand by entering the Chinese market. Within China, we are looking to attract sales from the upper middle class who are continuously growing more affluent. For entering this market, we have three recommendations:
Target upper middle class
Hire business agent to mitigate risks
Create flag ship store in heart of luxury district
By targeting this upper middle class we will require the aide of a business agent that will help us mitigate risks associated to doing business in China. Creating a flag ship store will allow us a home base to showcase our products and be the centre of our distribution network.
JB Choco Chocolates headquarters out of Burnaby British Columbia, was started 5 years ago by Jerome Benedict with the intention of producing high quality chocolate products for the consumer market. By sourcing unique and high quality ingredients from all corners of the world, Jerome has built a strong brand in the North American market. Having created distinctive flavours that attract a high dollar value, JB Choco has created a strong brand with a competitive advantage. Introducing ourselves to the Chinese market, we are looking to capture market share within the upper middle class with an objective of gathering a 45% share of the market and producing a strong brand that is globally recognized.
Currently we hold a strong market share in North America, but with the expansion to the Chinese market, we hope to build a base of operations to expand into all Asian regions. Chinas large population will be the testing grounds for our new flavours and provide feedback for us on how to create products for that Asian market.
“At JB Choco chocolates we’re committed to working towards a sustainable future that will provide a high quality product that can be enjoyed throughout different culture. Our unique tastes hope to challenge and expand consumer pallets and open the world of high quality cocoa.”
Description of the Product or Service
JB Choco chocolates are made with only the finest of high quality ingredients from all over the world, including chocolate from Belgium, dairy products from our own country, vanilla bean from the West Indies, almonds from Spain, and pure cane sugar from Columbia. The chocolatiers at JB Choco make sure that they take their time in melting the chocolate till it is just right. We roast the nuts and mix the centre filling to perfection and ensuring that every design on the tops of the chocolates are done to the very best of standards so that they all look perfect and uniform. Each flavour of chocolate has its own individual design that is unique to JB…