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International Marketing - Zokoko Assignment

   

Added on  2021-04-21

13 Pages3499 Words81 Views
Running Head: International MarketingInternational Marketing

International Marketing 1ContentsIntroduction.................................................................................................................................................2Company Profile and Product Overview.....................................................................................................2Industry Background...................................................................................................................................2Segmentation and Target Market.................................................................................................................4PESTEL of Singapore and Malaysia...........................................................................................................5Recommendations for market entry.............................................................................................................8Conclusion...................................................................................................................................................8Reference...................................................................................................................................................10

International Marketing 2IntroductionThe below mentioned task talks about the company and product background of Zokoko, it is anAustralian organization which is famous for providing rich and premium chocolates in themarket. Now the organization is aiming to expand their business in an international market. Thetask analyses the Singapore and Malaysian market for Zokoko. More details about the task arediscussed below: Company Profile and Product OverviewThe company Zokoko was formed in the year 2008 as a chocolate producing and manufacturingorganization. The company is formerly based in New South Wales Australia. The café and thefactory of the company are based in Blue Mountains in EMU Heights. The company proceduresand sells unique chocolates in the market of Australia. The aim of this organization is producechocolates that reflect their origin (place where they belong to). The company is known forproviding premium artisan chocolate in the market. They have gained specialization in sellingsingle-origin dark chocolate. The feature that makes the company unique in the competitivemarket is because Zokoko is the one between few companies present in Australia that makeschocolates from ‘bean to bars’. The company belongs to the chocolate industry where they aimto place themselves among organizations that provide real and pure chocolates to the targetaudience present in the market (Heritage 2018). Further, the company is a private enterprise that is emerging as a large scale organization byexpanding their business in different areas. The vision of the company is to provide rich andauthentic and tasty dark chocolates made from the bean to bear process. These products of thecompany are served in numerous cafes present in Australia Coco Harvest, Ralph's Café,Essential Ingredient Prahran, Wollongong Flowers, Wiffens etc. And it is surprise to know thatZokoko was also awarded as Favourite Chocolate in The Sydney Morning Herald Good FoodGuide 2012. The company is running successfully in the market of Australia and is furtheraiming to capture the international market base as well (Zokoko 2018).

International Marketing 3Industry Background The domestic target market of the company Zokoko is the Australia chocolate industry, theindustry is facing the changes in the market due to change in customer preferences from last fiveyears (TechSci Research 2018). As, the industry specifically focuses on the choice andpreference of customers which gives an advantage to Zokoko to excel in the potential market.There has been an increase in focus on the health and wellbeing of customers due to whichcompanies have started using less fat, sugar and packaged flavors in the chocolate. The productshave been diversified which gives a better option to the customers to choose according to theirpreference (Barrientos 2011).Source: (Statista 2018)Production of healthy products has become a demand for the companies present in the industryas the customers have started shifting their focus from heavy chocolates to healthy products likeyogurt. Also, there is a good thing to know that the consumer taste and preference has startedshifting towards premium products from the analysis of last 5 years. The revenue of the wholechocolate industry has increased by 2.2% from 2013-18 which is $6 billion (IBIS World 2018).Adding details in the domestic market of Australia, it is evaluated that is projected to grow atCAGR of over 7% during 2018-2023. High demand of confectionery products and increasing theinternational player are increasing the Australian market of chocolates (IBIS World 2018). Thecompany gives opportunity of employment to more than 11,225 people and it includes around

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