Market Analysis and Product Range of Zokoko

This assignment requires a comprehensive market analysis of Zokoko, including its products, pricing, and target audience. The product range includes various types of chocolate bars and drinking chocolate. The task also involves providing a detailed description of each product, including characteristics, size or weight, and price in AUD.

Running head: INTERNATIONAL MARKETING
International Marketing
Assessment Item 3
Marketing Plan
Student’s name:
Name of the university:
Author’s note:

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Executive Summary
This report is based on Zokoko chocolate manufacturer that decides to enter Singapore market
for market expansion. Zokoko mainly sells the products of chocolate with premium quality. It is
Australian based company and it has its own cafe in Australia. In Australia, it has large market
share. In Singapore, Zokoko will face competition as chocolate manufacturers are there in
Singapore. Economic boom and political stability will provide positive impact on Zokoko
business. Zokoko will get benefit from Singapore as Singapore provides help in opening of new
business. Zokoko will take the Foreign Direct Investment strategy to establish the factory and it
will take franchisee strategy to spread the cafe in Singapore. Zokoko will target the upper middle
class people to sell the products. It will also take the product differentiation strategy in order to
enter Singapore. In addition, product extension strategy will be taken along with price skimming.
In addition, Zokoko organisation will take use intermediaries in order to distribute the products
to retailer. Zokoko will take the strategy of online and social media promotion with content
marketing to reach large numbers of customers.

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Table of Contents
1. Introduction..................................................................................................................................3
2. External environment summary..................................................................................................4
2. Competitor analysis of the Chocolate industry in Singapore......................................................6
Porter’s Five Forces Model.........................................................................................................6
3. Zokoko market readiness.............................................................................................................9
SWOT analysis............................................................................................................................9
4. Zokoko’s mode of entry.............................................................................................................11
5. Development and Justification of STPD strategy......................................................................11
6. Product strategy.........................................................................................................................16
7. Price strategy.............................................................................................................................17
8. Promotion strategy.....................................................................................................................18
9. Distribution strategy..................................................................................................................20
10. Conclusion...............................................................................................................................21
Reference List................................................................................................................................23
Appendix........................................................................................................................................30

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1. Introduction
A marketing plan is a blueprint which outlines the business advertising and efforts of
marketing for the year to come. Marketing plan mainly describes business activities which are
involved in obtaining specific marketing objectives within a set of times. In this paper, marketing
plan of Zokoko is explained to enter Singapore market. The organisation Zokoko was established
in 2008 and it manufactures and sells chocolate. Zokoko has it headquarter in New South Wales
and the factory, as well as café, is in the Blue Mountains in EMU Heights. Zokoko wants to
make unique, amazing chocolate which reflects the original taste of chocolate (Zokoko.com
2018). The process of manufacturing the chocolate results in the pure taste of chocolate mass or
liquor. Zokoko wants to enter Singapore and this marketing plan is described the marketing
strategy and entry mode of Zokoko to Singapore.
In this marketing plan, marketing environment and competitors’ analysis is done to draw
the external marketing condition of the organisation Zokoko. STPD strategy is given to showcase
the target market and differentiation strategy. At the end, product, price, promotion and
distribution strategies are given in order to market the product in Singapore. Singapore is one of
the easiest countries to expand the business as Singapore provides excellent telecommunication
and the disposable income of the people is high. Singapore provides strong financial and
transport infrastructure. Singapore offers concessions in tax and it provides easy loan condition
as part of the investment incentives.
Objectives of a marketing plan
 To create a foothold in Singapore Chocolate industry
 To establish a large customer base in Singapore

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 To make a strong brand awareness of Zokoko in Singapore
 To reach 3% profitability by the end of 2021
Zokoko is going to enter Singapore market and Zokoko wants to create foothold in
Chocolate industry in Singapore. In addition, Zokoko wants to establish a large customer base in
Singapore. Zokoko should make strong brand awareness in Singapore for the brand. Zokoko will
be new in the market; however, Zokoko will try to reach at least 3% of the profitability by the
end of 2020.
2. External environment summary
Political stability helps the foreign companies to do the business Singapore and PERC
(Political and Economic Risk Consultancy) stated that Singapore has the lowest political risks in
Asia. Singapore is a democratic country and people themselves elect the leaders of the country.
Singapore is Republic within the Commonwealth and reason behind the political stability is
using the modified version of Westminster Parliamentary system (Tremwan 2016). The
economic condition of Singapore is going higher as current GDP growth of the country is 3.6%.
Current GDP rank of Singapore is 37th and current GDP is US$ 340 billion (Goh and Kavaljian
2017). The inflation rate is Singapore in 0.4% and labour force in Singapore was 3.661 million in
2017 (Euromonitor.com 2018). Labour force in Singapore is educated and the foreign
organisations can use the educated people of Singapore as employees. Singapore is vibrant free
market economy and its per capita income is the highest among ASEAN countries. Issues of
labour shortage, declining productivity and rising labour costs can create issue for Zokoko.
Singapore ranks second in ‘ease of doing businesses in the world according to The World Bank.

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Singapore was the eighth biggest recipient of FDI in the year 2017 as the foreign businesses have
been coming to Singapore to set up the branches and sell the products.
Foreign Direct
Investment
2014 2015 2016
FDI Inward Flow (m
USD)
73,9800 70,580 61,600
FDI Stock (m USD) 1,019,462 1,082,012 1,096,230
FDI Inwards 89.9 91.2 369.2
Table 1: Foreign Direct Investment in Singapore
(Source: Euromonitor.com 2018)
Chocolate confectionery industry in Singapore has touched the record value CAGR of
5% and average chocolate consumption is almost 2kg per year per person in Singapore
(Euromonitor.com 2018). In case of social condition, Singapore believes in traditional family
and it values the younger generation. The people work hard in this country and the preference of
the people also changes with time. Current purchasing power of Singapore people is average
57811.60 USD and it reached all time high during 2016 as 81443.43 USD (Lim 2017). The
purchasing power of the people is high in Singapore and the new business always does well in
Singapore. The literacy rate is high in Singapore and the people's open-mindedness attracts the
business. In addition, in chocolate making business, the chocolate makers use the new equipment
and technologies so that the manufactures can make the products easily. The cost and
manufacture time goes lower with the use of technology. Singapore is brilliant in technology and
equipment infrastructure and internet is prevalent among the people (Tremewan 2016). The legal

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system in Singapore is transparent and the businesses need to follow regulation and legislation.
Regulatory, business and legal settings support Singapore to develop and economic growth. In
Singapore, the organisations need to follow Electronic Transactions Act, Amendments to the
Evidence Act, Intellectual Property Rights and Content Regulations (Wang and Deng 2017). In
addition, Singapore government made the Ministry of Environment and Anti-Pollution Unit and
this department works relentlessly to maintain the environment factor and the air quality.
2. Competitor analysis of the Chocolate industry in Singapore
Porter’s Five Forces Model
Porter’s Five Forces Description Forces
Industry rivalry In Singapore, the established chocolate makers are
numerous and the companies have strong rivalries among
them. There is a low item of separation as each of the
company is giving quality chocolate.
High
Threat of new
entrant
To start a new business in Singapore, it is easy to open in
chocolate industry as the capital need for opening chocolate
manufacturing is not high. In the market, the exchange cost
is low and the customers can switch to new products if they
find it tasty and of better quality (Lim 2017). The barriers to
entry in the market are not strict as the new company can
easily open. IN chocolate industry, product differentiation is
high and switching cost of customer is low.
High
Threat of substitute Threat of substitutes in Singapore market is enormous as the Medium

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customers have to choose among the large numbers of
choices. In the market, the customers can choose from the
chocolate companies like Royce, Le Chocolatier,
Shiokjapan, Candy Empire, Aalst Chocolate, and Laurent
Bernard Chocolatier. Gourmet chocolate represents the
large market share and consumers are willing to spend a
large amount of money for premium quality products. Many
of the international chocolate sellers are in Singapore also;
Hershey and Ferrero Rocher.
Bargaining power of
suppliers
In chocolate industry, the suppliers are important as the
chocolate manufacturers need to have a constant supply of
colourants, sugar, aromas and gelatine (Chiu 2018). In
Singapore, the prices of chocolate companies are reasonable
and the Zokoko will not get enough option to switch the
suppliers. Therefore, the switching cost of the suppliers is
medium.
This
force is
Medium.
Bargaining power of
customers
For Zokoko or the chocolate organisations in Singapore,
there are two markets present in the industry, one is a B2B
market and another market is B2C. The customers have
high bargaining power in Singapore in case of chocolate as
the customers can shift to other international chocolate
giants. Zokoko is dedicated bean to bar process and it is
designed to celebrate the chocolate in every way.
High

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Revenue in the Chocolate Confectionery segment amounts to US$70m in 2018 in
Singapore. The market is expected to grow annually by 6.1% (Statista.com 2018).
13%
12%
25%
4%
23%
12% 11%
Singapore chocolate industry market
share
Hershey
Kraft
Cadbury
Ferrero Rochers
Nestle
Lindt
Meiji
Figure 1: Singapore chocolate industry market share
(Source: Chokshi et al. 2016)
Competitors’ analysis of Zokoko in Singapore
Strengths Weaknesses USP
Hershey Company  It is one of the
largest
chocolate
manufacturers.
 Wide
distribution
Purchase of cocoa is
not in organised
manner and the
expansion is limited.
Innovative chocolates

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and Hershey
made
partnership
with Nestle.
Ferrero Rocher  Product
quality is
luxurious.
 Awareness of
popular brand.
 This brand has
instant
customer
recognition in
Singapore.
Highly priced in
Singapore.
Not advertised in
Singapore.
Ideal product for
gifting.
Available in new two
brands Ferrero
Cappuccino and
Ferrero Rond Noir.
Table 2: Competitors’ analysis of Zokoko in Singapore
(Source: Self-developed)
3. Zokoko market readiness
SWOT analysis
Strengths:
 Zokoko manufactures mainly the dark chocolate. Chocolate liquor is then mixed with
sugar and additional cocoa butter is mixed with refined to reduce the particle size.

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 Zokoko is famous for packaging of the products as Zokoko packages the products with
quality so that it looks good. Zokoko believes that making fine chocolate is a journey and
Zokoko wants the customers to taste the secret (Zokoko.com 2018).
 Zokoko sells through stores and it has its own chocolate cafe.
Weaknesses:
 Zokoko is facing the issue of purchasing of Cocoa as the organisation does not purchase
the cocoa in an organised manner.
 Sometimes, Zokoko does not use the trade practices. Zokoko does not follow the
expansion policy although it is in the FMCG segment.
Opportunity:
 Zokoko makes mainly the products of dark chocolate and milk chocolate. The
opportunity lies in the snacks section where they can expand the business.
 Expansion of the business apart from Australia can be another opportunity for the
business (Thomas 2017).
Threats:
 Competition in the market is high as in Australia; there are many other chocolate makers.
There are Hershey's, Cadbury, Mars and M&M which are indeed strong brands in the
market.
 People are becoming health aware; therefore; the people have a suggestion of less
consumption of sugar (Noori & Najafpour 2016).

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4. Zokoko’s mode of entry
As stated by De Moorji (2015), foreign market entry can differentiate between the
organisations as each of the strategy has its own degree of risks, control, commitment and ROI.
Zokoko can take the strategy of Franchising. Zokoko will be producing chocolate products in
Singapore, in the target market so that the company can avoid the import duties and other taxes
easily. The chocolate products are produced in the cafe of Zokoko in front of the customers.
However, Zokoko will import the packaged chocolates from Australia those will be delivered in
retail and supermarkets. Zokoko already has its cafe in Australia and they can start franchising
cafe in Singapore in order to build strong brand awareness. Franchising system will allow semi-
independent business owners to pay the royalties and fees to the parent company in return for the
use of the trademark to sell the products (Samiee et al. 2016). Zokoko can start its franchising to
some of the independent business owners so that the business owners can use the same format
and system. Zokoko can offer the equipment, secret of the recipe, operational manual and
managerial system for the franchise in order to run the business. The franchisor and franchisee
have the license agreement (Demangeot et al. 2016).
5. Development and Justification of STPD strategy
Segmentation:
As stated by Li et al. (2018), marketing segmentation enables the company to target
various types of consumers who perceive the value of products.
Segmentation approach Consumer characteristics Justification
Geographic Zokoko management can
segregate the market based on
Zokoko will be able to
improve the customer base

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the geographic segment and in
this scenario, the organisation
needs to target the customers
based on location, urban or
rural and region.
because of climatic change in
Singapore.
Demographic Zokoko can target the
customers based on the
demographic segment in which
Zokoko needs to target based
on age, occupation, gender,
socio-economic condition
group
Age: The products are mainly
meant for young generation
and middled aged
Well educated and upper
middle class people
Young and the middle aged
people like to consume
chocolate. Chocolate
consumers are mainly young
and belong from upper middle
class people.
Psychographic Psychographic segmentation
can be targeted through the
customers who prefer to
purchase dark chocolate or the
premium quality chocolates.
Health conscious
As opined by Westwood
(2016), people who are
concerned about their health
are likely to eat quality and
natural products.
The customers can be targeted

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Lifestyle: College goers and
other outdoor as well as
indoor-oriented customers
through the personality,
lifestyle, attitudes and class.
Behavioural Moreover, Zokoko can divide
the market based on the
behavioural segment where the
customers want value for
money products from the
company.
Seeks luxury products
Zokoko can target the people
who are likely to eat luxury
products. Zokoko
management can target the
customers based on their rate
of purchasing of the chocolate,
benefits sought and readiness
to purchase the product and
loyalty status.
Table 3: Market segmentation of Zokoko in Singapore
(Source: Self-developed)
Targeting strategy
The target market is the group of customers that the organisation decides to aim its
marketing efforts (Oladepo & Abimbola 2015).
Primary target market
Zokoko can target the upper middle-class people in Singapore. Upper middle-class
people in Singapore can afford the chocolate and they can spend time at a cafe eating chocolate
and coffee. The upper middle-class people in Singapore will be the primary target customers and
the upper-class family can purchase the dark chocolates for their kids and teenagers. Families

14INTERNATIONAL MARKETING
with higher income group can be health conscious; therefore, the advertisement campaign should
convince the customer group. People who will pay a premium for better quality will be targeted.
Secondary target market
Zokoko can target the psychographic customer segment in which they can target the
customers who occasionally visit the cafe and consume the chocolate. The organisation needs to
research the user status of purchasing the chocolate and some of the loyal customers will be in
Singapore who will purchase the chocolate repeatedly.
Positioning strategy
The organisations will provide the efforts to differentiate the brand from the competitors
and effective positioning is determined by the successful communication (Huang & Sarigollu
2014). Zokoko can position itself as a luxurious chocolate brand. Zokoko will promise the high
quality and excellent tastes to the customers. Zokoko will provide smart shopper choice with best
competitive pricing. Zokoko uses chocolate liquor to mix with the sugar and additional cocoa
butter. The bar of chocolate will showcase in the advertisement in order to position itself
differently in the market. Zokoko will try to give the brand packaging with high-class appeal.
The organisation will also provide competitive pricing with ‘no frills’ alternative at reasonable
quality. Zokoko will use brand strategy of high price and high quality so that the customers
easily differentiate the brand. The positioning statement will be premium quality along with
competitive pricing so that the customers can consider Zokoko.

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Figure 2: Positioning strategy of Zokoko in Singapore
(Source: Self-developed)
Differentiation strategy
Zokoko will bring various types of products for the large numbers of different customers
and many expats live in Singapore also. Zokoko will do the product differentiation as Zokoko’s
premium quality dark chocolate with fine aroma will make the organisation different from other
brands. The chocolate is heated and stirred to develop the flavour in front of the customers in the
cafe in order to create luxurious texture. Product differentiation strategy will be taken through
the flavour innovation and flavour innovation can drives the sales of the organisation. Singapore
has high literacy rate and the customers are aware of the fact of health benefits from the
chocolates. Zokoko needs to share the nutritional values of the products and the organisation can
use the consumers’ interests through social media. In addition, Zokoko will make channel
differentiation as Zokoko will send their products to the customers through their two different
strategies in Singapore; FDI to manufacture the chocolates for open market sales and another one
is franchisee to offer different types of chocolates and coffee (Hamilton and Webster 2015).

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Zokoko will also use image differentiation, it has its own logo and with use of social media
channels and out-of-home advertisement; the organisation will try to make different image in
order to be accepted by the customers.
6. Product strategy
Zokoko is a chocolate brand in Australia and it offers dark and milk chocolate to the
customers. It has its own cafe in Australia where the customers can get variety of products and
Zokoko has its online presence as well in Australia. In Singapore, the organisation will mainly
offer the famous chocolate products as delicious for healthy and growing people. Zokoko will
offer chocolate bars, drinking chocolate, Tranquilidad, Chale, Goddess Dark, Cocoa Powder and
Cocoa Nibs and many more. At Zokoko making bean to bar chocolate is all about celebrating the
natural flavours that are present in the beans. The process of making the chocolate is clear to the
customers as Zokoko makes it clear n website. The organisation does sourcing from unique
cocoa. The second stage is roasting when the organisation develops the flavour. In the next stage,
nibs are then pressed between granite rollers and lehman melangeur. Zokoko has its own cafe
and where the customers can get beautiful handmade chocolate. The customers can purchase
single origin chocolate cakes, bar and sweet treats. The organisation focuses on the finished
products as it must be wrapped in such a way that is ready to be savoured. Zokoko treats the
beans with respect and care and carefully working with them to bring out their natural flavours
(Zokoko.com 2018). Zokoko has its own cafe and people can experience the range of beautiful
handmade chocolates, cakes, single origin chocolate bar and sweet treats. This cafe also provides
own-roasted coffee. This particular Zokoko cafe is situated in our chocolate factory. This cafe
offers some of the famous chocolate crackles, ultimate chocolate cake, fudge brownie and
chocolate gift box for gifting someone special.

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In Singapore, Zokoko will take the product modification strategy where the organisation
will improve the product-adding features or quality. Product modification strategy will increase
the market opportunity as it provides the organisation to take the advantage of different market
sectors (Botha et al. 2014).
In addition, Zokoko can add the new product line to existing product so that the
customers can purchase different types of products. In order to increase the sales in Singapore,
Zokoko will accelerate the accessibility of the products in the open market and it will increase
the franchisee in Singapore through opening new stores in different regions. New product line
strategy in Singapore will increase customer loyalty for Zokoko and it will lead to more sell for
the companies.
7. Price strategy
In Australia, Zokoko is treated as premium quality choices. At the cafe, the products of
Zokoko cost more and the customers have to pay more to relish the drinking chocolate or
chocolate bars. In Singapore, Zokoko will take price skimming strategy in the open market and
in the franchise stores. The premium quality and the brand image in the market can be generated
through price skimming strategy. Price skimming is the strategy where the marketers can set the
relatively high initial price for the service or products at first and then, they lower the price over
time. Zokoko will not need to invest a large amount of money for franchising and they will not
need to managerial capabilities to the operation. According to the report published by UNCTAD,
Singapore was world’s eighth biggest recipients of the FDI inflow in the year 2017 and that
figure touched from 50 billion USD in 2016 to 58 billion USD in 2017 (Beckett et al. 2018). As
stated by Armstrong et al. (2015), price skimming is the temporal version of price discrimination

18INTERNATIONAL MARKETING
or the yield management. In order to penetrate the Singapore market; price skimming strategy
will be fruitful as it will make the brand premium quality for the upper middle class people who
can afford the price of the products. Price skimming will assist Zokoko in recovering the
manufacturing and market penetration costs associated with this. In Singapore, the customers are
health and quality conscious; therefore, Zokoko can get benefit from this strategy. Skimming
strategy will help the organisation when there are many other similar types of products available
in market. Similar types of products give same attributes; however, higher price provides brand
image. Singapore will provide the benefit to Zokoko of having the low political risks and low
cost to expand the business in Singapore. In addition, franchising system will allow simultaneous
expansion of business in different regions of Singapore. Therefore, Zokoko can expand the
business in different regions of Singapore and it can earn large amount of revenue from this. On
the other side, as stated by Toptal and Çetinkaya (2015), price skimming can backfire when
competitors introduces the same type of products with lower price than the company. Therefore,
Zokoko need to look the matter if existing companies have the same types of products with lower
prices. Price skimming will not be viable option if there is strict law and government regulation
is strict. In Singapore, the government regulation is not strict regarding the consumer rights.
8. Promotion strategy
Zokoko has its Facebook, Twitter and Instagram pages from where they can start its
promotion before entering Singapore. Zokoko has only 450 followers on Twitter and it has been
on Twitter since 2009. On Facebook, Zokoko has 2500 likes and they are active on social media
pages. Social media give cost-effective promotion to the organisation (Dibbs 2017).
Facebook Twitter Instagram

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Social media focus Sharing news, stories Sharing content Sharing images and
videos
Company brand
presence
Facebook business
page
Twitter page Instagram business
page
Viral branding Share image, posts
and content
Retweets and follows Likes and comments
sharing
Web traffic Paste direct links and
feedback
Paste direct links and
feedback
Paste direct links and
feedback
Table 4: Proposed social media strategy of Zokoko
(Source: Self-developed)
Zokoko does not have high market awareness; therefore, a large number of customers do
not have access to Zokoko. Therefore, Zokoko needs to start its stores in Singapore taking
foreign market entry strategy. Singapore has a bilateral trade agreement with more than 46
countries and Australia is one of them. In Singapore, people are very much active on internet and
Zokoko can take the web-based promotional strategies like PPC (Pay-per-click) and SEO; this
strategy will provide more traffic on the website. Zokoko can reach to the customers through
PPC strategy as PPC can drive big revenues for the organisation. PPC allows the organisation to
only pay when an interested user clicks on the link of the organisation’s website Tuten and
Solomon (2017). PPC will be straightforward way to click on the link of Zokoko that would lead
the customers to the website and PPC will allow Zokoko to set the budget to control the costs.
PPC helps the organisation to reach the target customers at the right time. On the other side, SEO
helps small organisation to create robust, user-friendly organisation and fast to rank high in

20INTERNATIONAL MARKETING
search engine. It will allow the customers to find the name of Zokoko in Singapore when they
will search about chocolate.
The out-of-home promotional strategy will be expensive and Zokoko can do this at the
initial stage so that it can have brand awareness through billboards and hoardings. This type of
OOH advertisement will help the organisation to reach the customers while the customers are
outside their homes. The organisation can provide discount pricing on Cafe for the customers
and they can organise events on shopping malls where they can distribute chocolates free of
costs.
9. Distribution strategy
In Singapore, Zokoko will invest to make factory so that it can manufacture the
chocolates in large quantities. They will take supplies of raw cocoa and they will process the
chocolate. After that, it will package the products. The process of transportation starts from the
manufacturer factory to the wholesalers (Schlegelmilch 2016). The wholesalers will send the
products to the grocery stores and the shopping malls. Zokoko will use the agent, distributors,
wholesaler and retailers that will link to the producers to other intermediaries. These
intermediaries will help the organisation to help the organisation to sell, promote and make
available of the products on contractual agreement. In order to sell the chocolate based product
in the market, Zokoko will target to sell the product in hypermarket and super market. Therefore,
Zokoko will sell the chocolate through packets in large volumes in supermarket. The
organisation needs to understand the demand before the organisation sells the products. Zokoko
will take the multiple channel strategy where they use diverse product line. Diversifying product
line will ensure the different distribution strategies with intermediaries into it. Zokoko will

21INTERNATIONAL MARKETING
introduce the intermediaries so that they can distribute the products at right time to the grocery
stores. In addition, the Zokoko will manufacture the drinking chocolates and bars on cafe so that
the customers can have the products on time and with fresh quality. Therefore, Zokoko will use
intensive distribution strategy where Zokoko will be having mass marketing product and it will
use large numbers of wholesalers and retailers and distributors before the products reach to end
customers. FMCG type of products mainly uses intensive distribution strategy (Wang and Deng
2017).
Figure 3: Distribution channels of Zokoko chocolate in Singapore
(Source: Self-developed)
10. Conclusion
Zokoko is expanding the business in Singapore and it has been observed that Singapore
will be a good choice for Zokoko. It is taking the foreign direct investment and franchising
strategy in order to expand the business. Singapore chocolate market can be divided into two
basic segments, one is low-end Asian products and other is imported gourmet chocolate and gift
chocolates. In Singapore, the price of the raw materials of the products fluctuates and it can

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affect the price of the chocolate. Zokoko won many of the awards in Australia for making the
difference in the Australian market, mainly in the Chocolate market. Zokoko focuses on industry
segments like resorts, entertainment and restaurant so that the name of Zokoko gets famous with
large market areas. The target customers will be upper-class people who prefer the chocolates.
Zokoko will be promoting through internet and price skimming will be suitable for them.

23INTERNATIONAL MARKETING
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