Student Name: Grace Hsia
Unit Title: Evaluate international marketing opportunities
Assessment 1 - Project
Chocobite is an Australian confectionery industry company selling high quality chocolate
and related products to customers in South Australia, Victoria and New South Wales. The
company is based in Adelaide, South Australia. In the following pages, further evaluations
on how Chocobite being set up international marketing in country China will be analysed.
1. Global Business Environment
Before doing any decision making or conduct any
marketing promotion, let’s take a look on the current
global chocolate market trend within these years.
According to the research, the global chocolate market is
estimated to reach $98.3 billion in 2016 compared to
$83.2 billion in 2010, with stable increase of compound
annual grow rate of 2.7% from 2011 to 2016.
According to data from Euromonitor, the Swiss spend
the most per person on chocolate each year. From the
picture on the left, we can see the top 15 countries that
consume chocolate the most in year 2014. Switzerland
was the top rank whereas Australia lied in number 14.
The demand of chocolate is soaring globally,
especially the market in Asia is driving the sales and is
expected to hold 20% of the global market share in 2016.
The Asian market is expected to have high growth due to
lower penetration and sales of Asian region are expected
to boost their share. With the developing countries such
as China and India increasing their middle class with
greater disposable income, the local people are more
willing and able to spend more money on candy and
chocolate, either giving to the others as gift or for
themselves. Our analysis shows that chocolate sales in
China averaged a 10 percent growth year-on-year
between 2006 and 2010 and is expected to reach US$1.8
billion (AU$2.35 billion) in 2015.
Source: finder.com.au Euromonitor International
1.1 International Trade Patterns and Business...