Assignment Sample on Business Report
Introduction
In this context, the international trade and investment policy of the UK is also interlinked with this approach to promote their business on an international level. It has been observed by the analysis of different scholarly journals and commercial reports that most time, developing countries like Switzerland face issues in both sectors such as economic development and the sector of trade investment.
1. Analysis of Issues for Cocoa Beans
1.1 An Overview of the Switzerland Cocoa Industry
In this context, the less competition, the large scale of the target market, and the increasing trend of life standard in Switzerland may provide the future opportunity for Fair Cocoa to invest there and develop the regional economy of their parenting country. From the conclusion it can be analyzed that establishing a new brand in a landlocked region like Switzerland, will be difficult to establish a business at the beginning. On the other hand, it can be said that the organization has a good brand image. People from different countries often come to enjoy the wildlife scenario. Hence establishing a market in the region will make a business from the international people rather than the citizens of the region. By seeing the international encouragement regarding the sales of Cadbury silk, here the people of the region will be attracted to adopting the organization. The internal and external factors have been analysed in the study which gives clear ideas regarding the enhancement of the business.
Therefore it is recommended that Fair Cocoa should pay keen attention to enhance its marketing research before investing in Switzerland. The market researcher should pay attention to identify the behaving attribute towards the Cadbury silk of Fair Cocoa. At the same time, the organisation needs to build a skilled team to determine the view of foreign customers towards the product so that they can set up a suitable pricing strategy for the company. On the other hand, the management of Fair Cocoa should also pay attention to the joining venture of local authorities and local companies to drive out linguistic barriers. It will help them to analyze the product details among their foreign customers in Switzerland. On the other hand, the higher authorities of the organisation should pay attention to emergency prohibition in gifts and offers for foreign directors of the Fair Cocoa group. It will help them to secure the ethical issues in the management.
As it is known that Switzerland is a developing country, hence it can be recommended that encouraging business policies of the organization can be helpful to influence the economy of the country. Here the people will be able to get in touch with western food culture. On the other hand, it is recommended to draw some ideas regarding motivating the entrepreneurs for enhancing business in the country. It is recommended to include several encouraging policies. such as implementing a Shop Licence Act, Food and Food standard act, The Banking Act, The Customs and Excise Act will help provide standard organizational activity. activating the politics will be in support of the customers and it will enhance business.
1.3 Potential Expansion in the Cocoa Beans Market
In this case, Fair Cocoa will focus on these instruments to protect the international trade in Switzerland. Apart from this, the organisation is also paying attention to understand the core factor of the legal system of Switzerland before they invest their business. Similarly, the superior authority of Cadbury silk is focused on the consolidation system in Switzerland to protect their trade at the international level. In the beginning, Fair Cocoa will go through the investigation into the insufficient development of the economy for Switzerland. At the same time, the management rate of exchange is also a considerable instrument that helps them to establish their trade business in Switzerland (Santeramo and Lamonaca, 2020). On the other hand, the higher authorities of Fair Cocoa will also pay attention to the future potential in the sector of economic development that helps them to decide on investment and they also protect their trade over there.
1.4 Quality Assurance Conditions for Machine Working
The company can ensure one machine working at all times or 99.99% it has to make a combination of two new types of machinery and an old one. Achieving the rate is not possible under the current circumstances.
The major problem that Fair Cocoa is dealing with is the current financial crisis in the world economy forcing them to call closures of many stores around the world.
- Because we are loyal to Fair Cocoa.
- Because of this problem it can deprive us of drinking our favorite cocoa.
- Another problem that Fair Cocoa is dealing with its competitors.
- Because we are addicts of Fair Cocoa.
- Because of this problem they could lose her worth and stature.
The Fair Cocoa company must change its selling strategy, by providing all their shops around the world with online delivery services, so it will serve all loyal customers of Fair Cocoa around the world, thus no need to close the shops. Moreover, it will earn more profits through these days’.
To be on the blue side we must make some changes like, add new two flavors for drinking cocoa. For example, put almonds in cocoa and chocolate products. Also, design new cups of cocoa. For example, initiating cups made by biscuits will encourage people to buy them, so they will drink cocoa and eat the biscuit at the same time. Moreover, people who will buy these cups will enjoy them.
1.5 Costs of a New Machine
The company should take 5 years laid for which the company is paying 1941pm.
The information and communication technology of Switzerland are effective in establishing proper connections needed in the logistics scenario. With the help of network connections, Cadbury silk can reach out to the proper location of their vehicles. Establishing a proper connection with the warehouse is very much needed for the timely supply of the products in the physical stores. That should be focused on by Fair Cocoa as an unavoidable part of their information technology activities within Switzerland. The number of products in the warehouse, the order details, and the demands should be updated regularly in the database with an effective initiative by Fair Cocoa. If these strategies are properly followed by the company it can enable them to store the data for future records as well. Proper exploitation of the online platforms along with the official websites the Fair Cocoa can reach a larger amount of consumers in Switzerland. Making the consumer base stronger from the initial period should be the most important motto of the company in its initial stage.
1.6 Hypothesis Testing for the Possible Difference in Two Machines
We will make self-service. For example, in your workplace Show the workers that they deserve something special and build a new way in the office to enjoy cocoa.
Fair Cocoa on the go, with the spirit and sound of a Fair Cocoa cocoa house, offers fresh possibilities for bonding moments and a perfect way to chill and refill.
And, in public environments. For example, wherever they are and at any time of day, customers choose to drink their favorite cocoa brand.
Our enticing lightbox designs and versatile payment solutions are built to blend seamlessly into colleges, hospitals, shopping stores for convenience, and other places on the go. The payment will be a machine, fee at the till, or free selling options. Accepted: money, debit, and credit cards.
1.7 Pros & Cons Analysis “Should we buy a new machine?”
The maximum increment shown in the graph is of the food products which are frozen and refrigerated. Frozen food is generally stored easily and can be used on an everyday basis—the next increase in the trendiest food item, which is yogurt. There is a huge market of sales in the yogurt industry, especially in greek yogurt. The next comes in the line is the hot cocoas like Oatmeals as they are considered the healthiest food item in the market. The toaster pastries consist of bread products and breakfast bars which are not as high as the other food items, and the lowest comes to the cocoas which have a steep decline in the market. There is a certain implication and recommendation can be made for Management in cocoa companies like Fair Cocoa to enhance the declining sales.
Personalizing the choice of the cocoa according to the consumers is the innovative tactics to increase the sales of the product. Many food companies promote the personalization of the taste and appearance of the food according to the consumer. The yogurt company has increased its market sales mostly due to the innovative sales of the personalization with various flavored yogurt in the market, which can be customized by the consumer.
Enhancing the healthier options and cutting down excess preservatives and sugar in the ready-to-eat cocoa option is a matter of utmost concern. As people are choosing healthier options to get their day start to be productive and in a healthier
1.8 Customer Satisfaction
As for the survey, 50 customers have been interviewed to get a detailed analysis of the Fair Cocoa company and understand the customer’s point of view to know why there is a market opportunity problem in the cocoa breakfast company. The findings were related to the demographic view, and the customer perspective is taken into concern. The company has a total sale of 13.58 billion US Dollars since 2019 (Benmelech., Kumar, & Rajan, 2020). As a multinational company, Fair Cocoa is well known, the company mainly focuses on cocoa consumption and consumer convenience food products. The statistic is based on the headquarters of the Fair Cocoa Company, which is situated in BattleCreek, MI, United States. As the graph mentioned above, the cocoa company is currently facing a decline in sales and facing a tough competition with the high protein food options in the market such as oats, greek yogurt, and egg-based food.
1.9 Initial SWOT Analysis about Possible Expansion
SWOT Analysis for Fair Cocoa
Strength
- Varied and Unique choice of Chocolate
- Convenience of Delivery
- Not limited to Chocolate bars
- No manufacturing costs
- Outstanding Customer Service
- Online presence leads to a higher number of products
- It also allows for the products to be unique
- Able to increase the motivation of users through human interaction
- Easy setup
- Convenience
- Customisable workouts for varying users
- This can be added as a feature on a more popular application
Weakness
- Reliance on other companies for product
- Product test is done through smell, this can’t be done through online shops
- Candles may not be the only feasible source of income
Opportunities
- Growth of Chocolate Market in the USA
- Use of social media to increase awareness of the company
- Due to the increase in online shopping
- Not many online candle stores
- Increase in health and fitness application users
- Increase in preference to work at home
Threats
- Security Breach can lead to the leak of data
- Many brands established in the field
- Increased competition in this field
- To the longevity of the business, once gyms open up
1.10 Summary
Businesses lose when their product ranges are not established for growth. With proper data analysis and understanding of the underlying issues of the marketing problem, a business has the potential to thrive. In the case of Fair Cocoa, it’s a must to reshape Fair Cocoa investments to better comply with market preferences. One fundamental truth in the industry is that the market for the goods of a corporation is not all. That’s the only aspect. Strategically, the right step is to divest goods and trademarks and remain successful as a business. Also Fair Cocoa needs to transform from a day-to-day industry to a day-to-day business, able to accept and adopt emerging trends to succeed and prosper (Lylyk, 2016). The idea that Fair Cocoa is a corporation that relies extensively on cocoas and snacks does not mean that even in the long term, Fair Cocoa can just remain a cocoa and food firm.
2. References
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Zimring, A., 2019. Testing the Heckscher–Ohlin–Vanek theory with a natural experiment. Canadian Journal of Economics/Revue canadienne d’économique, 52(1), pp.58-92.
Opresnik, M.O., 2018, July. Effective Social Media Marketing Planning–How to Develop a Digital Marketing Plan. In International Conference on Social Computing and Social Media (pp. 333-341). Springer, Cham.
Patrutiu-Baltes, L., 2016. Inbound Marketing-the most important digital marketing strategy. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 9(2), p.61.
Rosnizam, M.R.A.B., Kee, D.M.H., Akhir, M.E.H.B.M., Shahqira, M., Yusoff, M.A.H.B.M., Budiman, R.S. and Alajmi, A.M., 2020. Market Opportunities and Challenges: A Case Study of Tesco. Journal of the community development in Asia, 3(2), pp.18-27.
Gebrewahid, G.G. and Wald, A., 2017. Export barriers and competitiveness of developing economies: The case of the Ethiopian leather footwear industry. Journal of African Business, 18(4), pp.396-416.
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