BUSINESS PLAN

Business Plan: Rococo Chocolates in China



Business Plan: Rococo Chocolates in China

Introduction

Marketplaces and marketing practices have gradually turned more international and managers throughout the world face the challenge of executing their plans and decisions keeping in view a wide array of national and international marketing environmental variables. For sustainable growth and survival, it is crucial for organisations to understand the complexity and diversity of international marketing and acquire skills and aptitudes for effectively competing internationally. The demand for the recently turned convenience goods like chocolate has been steadily rising both in the west and now the east. Rococo, a chocolate manufacturer since 1983, is considering targeting a number of new international markets. In 2007, Rococo made a joint venture with Grenada chocolate company and the business volume has had tremendous growth since then. This paper presents an initial business plan for Rococo's global expansion. The paper first presents the objectives of going global, followed by the prevailing marketing environment for the chocolate industry. The expansion will start with China, the country that represents about a fifth part of the world's population. The reason to start with China is obvious: China is no more an economy where state's choices influence consumer choices. A marketing strategy has been drawn keeping in view the studied marketing environment of China. Particular emphasis is placed on identification of existing and future market potential. Finally an action plan is drawn highlighting the course of the expansion strategy.

Business Opportunity Analysis

Before formulating a business plan, one has to evaluate and screen the available business opportunities keeping in light a number of factors like market and nature of the product, the required finances and other resources, business location, and differential and competitive advantage (Barringer 2009, p.36). For instance, one might be interested in screening business opportunities like opening a production site which sells tangible food products. For screening opportunities like these, we formulate a business concept statement for the chosen business opportunity:

Concept Statement Template For Proposed Business Opportunity

Production Site for Chocolates in China

Proposed Project Name: Rococo Chocolates

Background:

The motivation for this business stems from the fact that a vast merchandising knowledge and taste exist for the project. Further, there are profitable opportunities related with the business.

Business Problem:

Getting the required space at a commercial location in Beijing, China. Funding the initial budget in excess of £50000.

Goal:

The desired outcome for the business is generating a revenue base above the industry average for the chocolate production site of similar capacity. Justification/Benefits:

Why should/must the project be started now? List reasons

1 Low operational cost. Hence, profitable opportunities for new entrants

2. Availability of debt finance for small entrepreneurs.

3. A return on investment higher than similar businesses

Assumptions/Constraints: List assumptions and constraints

1. Acceptability and popularity of new flavours of chocolate to be introduced with the launch

2. Getting trained and skilled staff

Resource Needs

Resources Available:

Hard cash of £ 50000.

Expertise of coffee merchandising

Good public relations (e.g. with chocolate vendors)

Special Resource/Skill Needs:

Marketing research for new flavours

Finance if budget exceeds initial investment

Estimated Cost: £ 40000

Source ...