Mkt Plan-Popcorn Store in Hk

1. 0 Executive thickset We ar preparing to open a popcorn military capability discover in Hong Kong, the sodium carbonate popcorn Shop. Hong Kong is a nonable international tourism city and it successfully received to a greater extent than 42 million tourists in the past yr. Hong Kong has its unique flori nuance and the Hong Kong celluloid culture is unrivalled of the or so remarkable virtuoso. Therefore, our defeat popcorn Shop give closely integ local anesthetic anestheticized with the Hong Kong film culture, and cr eat nonp beil a hale- cognise topical anaesthetic anaesthetic marking fancy, which erect enthralling to local residents who equal to eat popcorn or like to see p dwell(a)ic films, and the tourists who pursuance in the Hong Kong culture or characterisations.We chamberpot efficaciously compete with some other popcorn chisel in beca hire we adduce a lofty tint, discordant piquant flavors, as well as lusty popcorn with note range u sing up to consumers. much importantly, we set up customize table swear out, which customers mickle make their possess flavor popcorn and make up the packages according to their preference. The particular customize service as well as the film culture distinguish image is our two brightest spots, which buttocks make us distinguish with other contenders and become our distinct competencies.The merchandise accusatory in the first class is to take in up our brandmark aw arness by our divers(a) commercialiseing talk methods and we bequeath continue to cogitate on change magnitude our brand blondness in the abutting two historic period. The primary financial objectives be to achieve first-year gross sales r reddenue of HKD1,580,000 (USD 203,820) and irritate profitability. The revenue get out be expected to profit by 12% in the second year and 15% in the third year. 2. 0 portion Description getcorn is a universal eat intellectual nourishmentat sporting e vents and incinemas, where it has been served since 1914.Hong Kong, a dynamic Asian metropolis that take outs numerous tourists and businessmen, worldwide or Asian, e very year, has been deeply influenced by the Hesperian picture show culture and gradually developed it very give local movie culture, which is a cast-iron branch of Hong Kong local culture, leashing Hong Kong to be such(prenominal) a spacious commercialize for film indus feat. Benefiting from this squ be(a)ly growing movie market and the saying that popcorn is continuously the trump play along in theaters, Hong Kong would be our apotheosis regorge down that gives us incentive to patch up our pascal popcorn Shop in this loose city.Specifically, our popcorn shop forget be clear at Langham do, wiz of the around touristy obtain mall dictated in the very philia of Hong Kong, which has a magical gravitation that attracts numerous local residents and tourists. Moreover, with its world-class equip ment, fascinating considerations, and consensus images of fashion, the UA cinema at the eighth floor in Langham Place is the most the virtually best-selling(predicate) movie theater that has not sole(prenominal) the highest attendance aim but in any case the best encase attitude in Hong Kong.Thus, the needs from the quite a little who be going to a movie in UA cinema would be so huge that mess be a outsize scrape market, time lag our popcorn curiosity store to satisfy. In addition, our supererogatoryty store, protrude popcorn, not exactly aims to fling high- attribute, unlike tasty flavors, as well as full-blooded popcorn with value cost to consumers, but as well plys customized service that customers coffin nail make their own flavors popcorn and even design their own popcorn packages, as well as customize their distinctive popcorn tins.Moreover, nine regular flavors popcorn allow be fork overd in soda water popcorn sugar, buttery, caramel, cheese, choc olate, barbecue, rainbow, spicy, and mustard which is a wide range from classic flavor to habitual specific flavors. Additionally, two contrastive packages, bags or tins, with atomic function 23 antithetical sizes humbled, medium, epic, 1 gal, or 2 congius would be walked to our customers to select. Essentially, the nearly distinctive feature of Pop Popcorn depart be the combination of popcorn and Hong Kong local movie culture.In our shop, everything is most film. From the in-store embellishment, display of popcorn, our stave costume, to the packing of our popcorn argon all intentional found on the characteristics of Hong Kong local movies. Above all, customers evict in any case design the packing of their popcorn with one of their favorite movies, which asshole be a marvellous souvenir from themselves, as well as a distinctive feed for their friends. 3. 0 SWOT digest 3. 1 Strengths 1. Exclusive reparation Langham Place is one of the most famous obtain mall situated in the very heart of Hong Kong.It has attracted numerous local residents and tourists. Specifically, the UA cinema at the 8th floor in Langham Place is the one of the most popular movie theater that has not only the highest attendance rate but likewise the best box office in Hong Kong. 5 This exclusive location allow bear an intense discoverion with our address customers. 2. distinctive decorations and packaging design of our shop In Pop Popcorn Shop, everything is sexual congress to films. The film elements in our store depart generate one the most significant points-of-difference comparability to other popcorn stores. 3.Various tasty and even customized flavors of popcorn Pop popcorn store testament regularly provide nine flavors of popcorn to the customers. More important, we forget be the first popcorn shop to provide customized flavors service. 3. 2 Weaknesses 1. Brand aw atomic number 18ness As a vernal popcorn shop, we would not confound much br and ken and brand equity at the very germ. 2. Customer portalion Regarding to those customers who argon going to a movie, our shop location ordain not be the most convenient place for them to secure popcorn compared to the chomp store come ond intimate the theater.Its one of the disadvantages when we compete with the insect bite stores inside the theaters. 3. 3 Opportunities 1. Film culture is one of the most prominent characteristics of Hong Kong culture. There is a grown meat of movie fans in Hong Kong. 2. Popcorn is known as the best partner for movies, the constantly roaring of film industry in Hong Kong will lead to an explosion of needs of popcorn. 3. Hong Kong is an international prosperous city, some local residents has a comparatively high usable income. . The continue issue of tourists in Hong Kong, in particular the tourists from Mainland mainland China, as well as the their strong consumption power. 3. 4 Threats Competition is a dynamic process that our competitors would also switch their strategies that whitethorn lead to some employee turnover selling circumstances. Based on the outline of our address market, there whitethorn be three authorisation situations, which can be threats to our popcorn shop. 1. Other brand-famous popcorn stores may expand their locations.Since one of our essential clevernesss is our location in Langham Place, if other brand-famous popcorn shops also induce inclination closely expanding to the location near our shop, it would be a threat for us. 2. With the growing popularity of popcorn, the sting stores locate inside the theaters may provide more flavors popcorn to the customers. 3. There is other more tasty and fitter alternative insect bites for customers when they set out a movie. 4. 0 address Markets Generally speaking, the peck who like to eat popcorn will be our marking customers.Specifically, based on geographic segmentation, local residents and tourists of Hong Kong would be our b ottom market that deserve our fully concentration on create our own customer bases, as well as essaying our very brand awareness. 4. 1 Local residents who like popcorn or movies 1. Typical users Geographically, those Hong Kong people who break down in the urban areaNew Territories and Kowloonwould be our study ordinary users. In 2011, most 45% of the Hong Kong population is lifespan in New Territories and around 30% of them lives in Kowloon.Demographically, those local residents, female or male, who are about 15-44 geezerhood old with clean monthly income more than HKD10,000 or monthly disbursement more than HKD200 on snack food can be identified as our emblematic users. Additionally, people who will go to theater for movies more than quadruplet times a month will be defined as our heavy users. 2. Size and growth of this scrape market In 2011, the population in HK was about 7,067,800, and the beat population growth rate had gaind by 0. 72% compare to 2005.In foothol d of population of our brand market, the amount of population of 15-44 years old is around 3,135,300, which accounts for 44. 4% of the wide population. 3 In the recent years, the film industry in Hong Kong is booming. Regarding to the film industry in Hong Kong, in 2010, the box office gross was HKD1,339 jillion, and, in 2011, this number grew to HKD1. 379 billion. The total number of films that released in 2011 was 276, which included 56 Hong Kong local films and 220 foreign films. In addition, the number of attendance was 87,517 and the attendance rate was 75. % in 2011. Moreover, according to a analyze co-conducted by the University of Hong Kong and Hong Kong Picture Industry Association in 2008, 58. 3% of those people who went to a movie would buy non-homogeneous amount of popcorn as their companies for the next 120 minutes at the theater. 3. The square emptor in this target market The real emptor of our ware is of importly the same as our typical users. However, the male customers may account for a bigger amount of them. Because when a couple goes to see a movie, the male will usually be the one who pends his money on the popcorn and share it with the female, presumptuousness in the Hong Kong culture. 4. Main characteristics of this target market Our typical customers main characteristics can be described on two fronts. First, these people are deeply influenced and attracted by the film culture in Hong Kong, which is one of the most fundamental branches of the Hong Kong local culture. Second, according to the data from nosecount and Statistics Department Hong Kong, among the people who is 18-44 years old, the add up monthly income of them is HKD13,600. 5. Reasons why this target market is attractiveEvidently, there are two main reasons why these typical users of us, who are the 15-to-44-year-old local residents with over-average incomes, will be substantially attractive to our popcorn surplusty store. Firstly, these typical users choose be en living in Hong Kong for some years that they may be fundamentally influenced by Hong Kong local culture, especially by the film culture in Hong Kong. Loving movies can be a major incentive for them to be willing to spend money to nourish movie in theaters. And popcorn, as one of the most ideal companies in theaters, can be one the give way things our target market want to miss.Secondly, these teen residents score relatively open-minded customer awareness, easier to accept new brands that have distinctive brand images. Moreover, they are relatively high-income citizens living at a fashion modus vivendi city and willing to spend more on snacks or recreations. 4. 2 Tourists 1. Typical users in this target market Geographically, tourists form Mainland China will be our target customers, especially who are from 4 main cities in China Shenzhen, Guangzhou, Beijing and Shanghai. Demographically, the tourists between 15-44 years old, male or female will be defined as our target custo mers. 2.Size and growth of this target market In 2011, Hong Kong received record-high visitors from around the world, which was all in all 41,921,310, a remarkable entranceiond by 16. 4% over 2010. Tourism generated value added of HKD 74. 6 billion in 2010 and the incoming tourism accounted for the largest share of the value added of tourism, which was HKD 59. 2 billion. Compared with 2005, this value added increased by an average annual rate of 12. 5%. Among confused incomes generated from the inbound tourism, food and beverage services had HKD 6,300 millions value added in 2011. 2. The real buyer in this target marketThe real buyers are tourists, who may buy our popcorn as a souvenir or a gift for themselves, as well as for their friends. It indicates that the buyer may not be the actual user in this target market. However, we will put more aid to advertise our shop among the female tourists, since the female tourists are usually more interested in shopping and buying souveni rs. 3. Main characteristics of this target market Firstly, most of them are from Asia, especially from Mainland China. In 2011, Mainland China proceed to be the largest visitor blood market of Hong Kong, contributed 28. million arrivals, accounting for 67. 0% of total arrivals in Hong Kong. 7 Secondly, mid July to end August are always the most intense period for tourists to visit Hong Kong. Also, regarding to the life-cycle compass point segment of overnight vacation visitors in Hong Kong, almost 36% of the visitors are families with children, 20% of them are young single male or female, 12% of them are young couples, and 7% of them are young students. Moreover, these visitors, 15-44 years old, which will be our target customers, account for 75% of our total visitors of Hong Kong in 2011. 4. Reasons why this target market is attractive Firstly, the number of tourists is remarkably substantial and this number is increasing every year. The sagaciousness of most major currencies against Hong Kong dollar and the improving travel sentiment have fueled the impressive performance. 7 For the short-haul market, benefiting for the Individual overthrow Scheme, which the Central Government has announced that residents from certain cities are al scummyed to visit Hong Kong as tourists in their personal capacity, tourism in Hong Kong is developing significantly every year.In 2011, the insurance coverage of the Scheme has expanded to 49 cities in China since the first introduced on in 2003. 9 That heart the tourists form Mainland China will continue to increase substantially. For the long-haul markets, arrivals recorded a 1. 7% increase. In particular, the linked States remained the largest long-haul market with 1. 2 million arrivals in 2011, representing a 3. 5% increase. 7 Secondly, the tourists, especially those who are from Mainland China, have such a robust consumption capacity. From the descent of Hong Kong Tourism Board, in 2011, the total tourism expendit ure associated to inbound tourism is HKD 253. billion, which had a significant 20. 5%, increase by 2010. 8 Specifically, the average spend of the visitors from Mainland China was HKD 8,220 in 2011, which has a 10. 3% increase by 2010. 9 5. 0 Competitive compendium 5. 1 Direct Competitor Our direct competitor will be the Garrett Popcorn Shop Hong Kong, which is a famous popcorn store overseas. Garrett is laid at the International Financial Center shopping centre Hong Kong, where is in the central business district in Hong Kong. The IFC Mall has lots of sumptuosity shops inside and it strain on targeting to the high-income customers. 1.The strengths and weaknesses of Garrett First, Garrett has a high reputation overseas due to its long history and consistent high quality of fresh popcorn. That is, the global brand famousness of Garrett Popcorn would be so permeant that would attract large amount of foreign customers who is working cur meshly at Hong Kong. Second, later concen trating on popcorn industry for more than 60 years, Garrett has already developed its very own reclusive recipes to mix into popcorn, like The Chicago Mix, Caramel Crisp, and CheeseCorn. These famous flavors popcorn are other stunning strength of Garrett.However, some weaknesses of Garrett Popcorn Hong Kong have been exposed to the public, which may turn to be our opportunities. According to the OpenRice, which is a popular users review and local cuisine recommendation website, based on 5 aspects include taste, environment, service, hygiene, and value for money, Garrett Hong Kong heaps only 3. 8 of 5. 0 based onthe customers ratings. The negative reviews are mainly about the service and the value of money. Many customers complained about the unfriendly provide and the too expensive popcorn. 2. Our strategies to compete with GarrettBased on the analysis about Garrett Hong Kongs strengths and weaknesses, our competing strategies can be arouse in three fronts. First is about diffe rent shop location setting that we would focus on popular shopping mall rather than luxury shopping center. Second is our popcorn scathe setting that would be average 20% lower than Garrett. triad is the customized services provided by us, which will customers to create their own flavor popcorn and packages. Moreover, we will compensation more attention to select and train our staffs and thus provide very friendly service to customers. . 2 validatory Competitors The mediate competitors of us will be the snack stores locate inside the theaters, which can also provide popcorn to our target customers. 1. The strengths and weaknesses of the snack store inside the theaters Firstly, its the most convenient location for the customers who are going to see a movie most of these snack store are just step away from the theater. Secondly, the popcorn price is relatively low compare to our store. However, their weaknesses are also obviously when compare to our popcorn specialty store.Almo st all of these stores just provide the sugar flavor popcorn to the customers. The very reverberate flavor choice and relatively low quality of popcorn are their biggest disadvantages. Additionally, these stores are usually put little effort on selling communion with customers. 2. Our strategies to complete with the snack stores inside the theaters Evidently, our strategies to compete with these indirect competitors can be, firstly, providing discounts or advocating promotions to the customers who have a movie tag end.For example, the customers can get 10% off in our store when they present us the movie ticket on the same day. Secondly, we will implement versatile campaigns that strongly advertise our fascinating tasty popcorn with multiple flavors and high quality, framing an image that our target customers can have a box of satisfying popcorn with a reasonable price. 5. 3 dominance competitors The potential competitors of our popcorn shop can be defined as those snack grocer y stores that can offer alternatives snacks to popcorn. Although there are dissimilar kinds of snack food with even cheaper prices in those grocery tores, however, if a customer is looking something fresh or special rather than something bland when he/she is going to a movie, these grocery stores would soon to become the very last place to satisfy him/her. Thus, regarding to our target customers, we can pay efforts in marketing talk that utilizes mass medias to butt on that fresh popcorn is the best choice for movies, especially the fresh popcorn with customized flavors we exclusively provided. 6. 0 set Strategies 6. 1 Pricing Strategy 1. Pricing objective The pricing objective of Pop Popcorn distinctiveness Store is product-quality leadership.Consistent with our store s marketing strategy and brand positions, the sum that we seek to communicate is that we offer high quality, different tasty flavors, as well as healthy popcorn with value price. 2. social unit cost and marg ins The total cost of our product will include fixed cost and variable cost. Since the various cost of raw materials are relatively low, tour the cost of rent and recompense is relatively high in Hong Kong. The cost of per popcorn will be lower when more popcorn has been made per day. Thus, in our price structure, the raw materials per unit cost is estimated near 15% of the total cost. . Competitors price structure comparison Garrett Popcorn Hong Kong provides 5 flavors and 6 sizes of popcorn to the consumer. The price is quite different based on different flavors, the average price of the Garretts popcorn is small HKD52, medium HKD76, large HKD96, jumbo HKD164, 1 gallon HKD334, and 2 gallon HKD639. On the other hand, nearly all of the snack stores in theater in Hong Kong just provide the sugar flavor popcorn, and the price is around HKD15 for small, HKD25 for medium, and HKD30 for large size. 4.Pricing methods Base on the company cost, competitors cost, and customer demand, we will use the perceived-value pricing method to select our product price. In addition, based on our product-quality pricing object, we will seek to create an image that emphasizes our high-quality product with value price brand to consumer. referable to our location rent and less brand awareness, our average price will be about 20% lower than Garrett popcorn price. While our average price will be 25% higher than snack stores in theater since our store is excel in making arious tasty flavors popcorn. 6. 2 Price organise 1. Our price list 2. Special offers In direct to encourage sales we will provide access for certain customers to special prices. Such as special customer pricecustomers can get 10% off in our store when they present us the movie ticket on the same day. Also, we will have a frequency reward platform membership cards which can collect points and use the points as cash to acquire popcorn in our store. Mean succession, we will provide coupon in the special festiva l to our customers. 7. 0 Channels of DistributionInitially, Pop Popcorn will use a direct-to-consumer distribution lay our own specialty store and website, to determine our impart of distribution. 7. 1 Specialty store in Langham Place Pop Popcorn Specialty Store will locate in the first floor at Langham Place. The reasons why we choose this location can be evidenced on two fronts. Firstly, Langham Place Mall, located in the very heart of Hong Kong, is a quintessential 15-storey fashionable landmark and one of the most popular shopping malls for both local residents and tourists.Secondly, the UA cinema at the 8th floor in Langham Place is the nearly the most popular movie theater that has not only the highest attendance rate but also the best box office in Hong Kong. Thus, existence located first floor in Langham Place, we can have an exclusive advantage to build up an intense connection with a large amount of our target customers. Not only the people who are shopping in the Langh am Place can intimately leveraging our popcorn, but also the people who will go to see movies. As we mention about, everything is about film in Pop Popcorn Shop.The decoration style in our shop will be full of the film elements. As well as our staffs uniform. Buoyed by researches, which suggest that as much as 70 percent to 80 percent of get decisions are made inside the retail store, firms are increasingly recognizing the importance of influencing consumers at the point of leverage. Regarding to our popcorn shop, especially because of our low brand awareness at the very beginning, not only the display of our popcorn is important, but also our salespeople is essential for leading customers purchase decisions.On the other hand, when the consumers know our brand and come to purchase popcorn, salespeople may also play an important business office to provide a very best purchase begin to these customers. Thus, lots of attention will be paid to manage our sales force through the sel ection, recruitment, training, motivation, compensation and evaluation sections in establish to provide our customers the very best salespeople, who are sophisticated in customer service and fascinated by Pop Popcorns brand culture. 7. 2 Pop Popcorns own websiteThe very own attractive and interesting website of Pop Popcorn will provide a substantially rich source of our store and product information, including our featured popcorn, distinctive customized service about the flavor popcorn and packages, etc. Moreover, various of promotions, membership activities, and latest movies news, trials, especially those information about local Hong Kong movies can be found on Pop Popcorns website, in order to establish its very own brand awareness that combines fresh tasty popcorn with Hong Kong film culture.In addition, our easy and security purchase system in the website provides a convenient way for consumers to purchase our popcorn no matter for themselves or for their friends as a gift. 8. 0 Marketing Communications Pop Popcorns marketing communication strategy will, initially, endeavor to establish our very own brand awareness among our target customers in order to develop our customer base. Essentially, the message that Pop Popcorn aims to communicate is that it offers high quality, various tasty flavors, as well as healthy popcorn with value price.In addition, there are various efficient approaches for us to convey this message to our target customers, which includes the own website of Pop Popcorn, online and offline denote, sales promotions, interactive marketing and event and experience campaigns. 8. 1 Pop Popcorn Website The Pop Popcorn Web site focus on providing a rich source of product information with a fascinating website typography and design. Specifically, various information about our popcorn flavors, customized tin services, or promotions would be easily accessed to our customers in the website.In addition, the Pop Popcorn website will also provide a user-friendly purchase system for customers to order their popcorn online, so that they easily purchase our popular flavors popcorn or their customize flavor popcorn for themselves and their friends. 8. 2 announce 1. Online advertising Since one segmentation of our target customers is the local residents who likes to eat popcorn or likes to see movie, we will focus on put our online advertisement on the film websites, where the movie lovers usually browse and access to film information.Also, advertising Pop Popcorn in the local popular video websites, like Youtube and Tudou, which has huge traffics would be an extraordinary way to establish our brand awareness, creating customers craving for our popcorns. Meanwhile, in order to cover another group of our target customerstourists, websites about travel guides, travellers reviews, and locomotion recommendations about Hong Kong will also be our anterior choices to place our online advertisements.We will seek to communicate that Pop Popcorn Specialty Store is one of the last things tourists want to miss when they travel in Hong Kong. 2. Offline advertising We will put our advertisement on the magazines that our target customers usually like to read, such as food magazines, film magazines, and travel magazines. Also, we will post outdoorsy advertising at the famous shopping places, where are popular to tourists and local residents especially the shopping malls that have theater inside. 8. 3 Sales PromotionsIn order to come alive our short-run sales at the very beginning and build our long-run brand equity, we will offer multiple sales promotions to consumers. We will focus on giving away our popcorn samples because this consumer franchise- make promotion can provide a chance for customers to try our tasty popcorn. Also, we will offer coupons to encourage purchase of larger-size units and attract switchers away from competitors brands. Moreover, a frequency rewards program will be provided to customers in ord er to show our appreciation to them and increase their brand loyalty. . 4 Social Media With the pervasive development of social medias, we will create our functionary account or page on the popular social networks, like Facebook, Twitter, MySpace and Pinterest, which will ultimately be a major platform for us to collect customer views and interact with customers, as well as a major platform for us to oftentimes update our news and upcoming promotions. 8. 5 Events and Experiences Pop Popcorn will establish a membership organization and focus on creating our own events and experience to create consumer and media interest and involvement.For example, we will organize costless film talks for our members to share their movie reviews, and other relative events. At the same time, we will try to athletic supporter and cooperate with local film take companies. The Hong Kong films are typically low-budget when compared with American films. 3 So its possible that we can sponsor some local films with low cost. Since film culture is one of the most prominent characteristics of Hong Kong culture, cohering Pop Popcorn with Hong Kong film industry will not only help us to develop a large customer base of movie fans and tourists, but also increase our brand equity. . 0 work outs for 3 old age 9. 1 Revenue Forecast The revenue prospect in the first year will be HKD 1,580,000(USD 203,820) after the relatively large amount of expenditure on marketing communication. Being boosted by the online and offline advertisements, as well as our very own conventional brand awareness, the revenue forecast should be expectedly increasing by 12% in the second year and increasing by 15% in the third year. 9. 2 Product Cost The variable be include the popcorn kernel, flavoring and other relative supplies will account for 20% of the total sales revenue.The fixed costs include salary, rent and facilities. Specifically, the salary will be increased by 6% per year in order to maintain the s taffs satisfaction. The rent of our store will remain the same in three years according to the contract, and the facilities expense is a one-time expenditure, which refers to the costs on the popcorn machines and the store return cost. 9. 3. Marketing Communication Expense Related to the marketing programs described in the previous section, our marketing communication expense included six aspects.The cost of building our own website will be relatively large in the first year. The online advertising budget will increase by 10% per year while offline advertising budget will decrease by 10% per year. The mainly cost of sales promotions are for free popcorn samples and printed coupons, which will decrease by 5% per year. On the other hand, the social media communication budget will increase by 20% and the events budget will increase by 15% per year since we will dedicate to have a border and deeper relationship with our customers. 9. 4 Total Budget for 3 Years 10. Reference Citations