Marketing Plan for Coconut Bliss: Entering the Chinese Market

This report outlines a marketing plan for Coconut Bliss, a company in the food industry, aiming to expand its business into the Chinese market. The plan begins by explaining the rationale behind choosing China as the target market, highlighting its large population and favorable economic conditions. It then details the company's objectives, including increasing market share, maximizing profitability, and building brand image. A SWOT analysis is conducted to assess the company's strengths, weaknesses, opportunities, and threats in the Chinese market. The report also covers the STP approach, including segmentation based on geographical locations and targeting medium-income and young customers. Furthermore, it describes the marketing strategies using the 7 Ps: product, price, place, promotion, people, physical evidence, and process. The report concludes with a list of references used to support the analysis and recommendations.

Marketing
Essentials
TASK 4

Preparing marketing plan for Coconut Bliss
 A term in which an organisation is going to enter
either in new market or another country in order
to meet specific objectives and goals is
considered as expansion process.
 In the current case scenario a company i.e.
Coconut Bliss is going to expand existing
business in developing country. The reason to
chose such kind of market is that, it helps to meet
desired goals and gain competitive benefits
easily.

 For this, China country is taken into account
because of having huge population across
the world.
 Further, the firm operates in food industry
and people of China country like to eat
innovative type of food items. In addition to
this, economic conditions of the selected
emerging market are in favourable of the
Coconut Bliss.
 Therefore, it will provide opportunities to
generate more sales and create a brand
image in food industry. Behind expanding
business in Chinese market, it has some
aims and objectives which are stated below:

 To raise market share in China by
18% within one business year.
 To maximise productivity as well as
profitability of the company in new
market.
 To develop or create brand image in
the mind of consumers at the global
level.

SWOT Analysis of Coconut
Bliss
 While entering or expanding business in
emerging market which is China for the
current project, it is necessary to
determine some aspects up to the greater
level
 For this, SWOT analysis is generally
adopted which reflects strengths,
weaknesses, opportunities and threats of
the company.
 Further, this model with reference to
Coconut Bliss is as follows:

Strengths:
 The Coconut Bliss company provides
better and higher quality of the food
products which is major strength of it.
Apart from this, when looking at the
pricing aspect then it offers its food items
at the lower as well as affordable prices up
to consumers in existing market.
 It considers strong and attractive kind of
marketing and promotional strategies to
attract customers.

Weaknesses:
When considering to the weaknesses
then it has not strong profitability
position in the industry.
 Along with this, it has more level of
debt from external market which
imposes high interest amount.
 Further, it unable to manage costs
which are incurred in the business for
producing and cooking food items.

Opportunities:
It has basic opportunity is to grow in
emerging as well as overseas markets of
the world.
Further, it able to become a successful
firm and brand in food industry by
employing acquisition strategy.
Threats:
High level of competition in food market
and uncertain change in economic
conditions are major challenges of Coconut
Bliss which create negative impact upon it.

STP Approach
 Segmentation: The entrepreneur of
Coconut Bliss will segment its business in
Chinese market on the basis of
geographical locations.
 Further, considering to the status as well
as rate of customers the geographical areas
will be segmented. It will support to the
management for covering whole nation
properly.
 Geographical segmentations where cited
organisation has decide to sales it product
at different geographical area where such
type of products are low and demand is
high.

Targeting:
At this particular approach, target
market of the selected firm is identified.
 It is one kind of group of customers to
whom the businessman of Coconut
Bliss wants to target and deliver
products among them. Further, target
market of Coconut Bliss in Chinese
market will be medium income level of
people and young customers.

Positioning:
In order to make a strong position the
company will provide higher quality of the
goods and services among customers.
 Further, within proper time such services
and food items will be delivered in Chinese
market.
Marketing strategies
When an organisation enters in new
market then consider some marketing
strategies which will support to introduce it
in new market

Those marketing techniques through which
Coconut Bliss will do marketing of its products
are described through 7 P's below:
Product:
 In the new market i.e. China management of
Coconut Bliss will offer higher quality of the food
items between local community.
 Along with this, hygienic food products will be
provided after checking taste and quality.
Price:
It will offer the goods and services at low and
affordable prices among the Chinese customers.