Limitations of our results

• Limited time and resources

• We only targeted people our exploratory research indicated would be most suitable, meaning that there is the chance we might have missed a target group

• We had a larger group of students which might shift our answers slightly.

• We randomly asked people on the street, but few tourists answered our survey meaning that the results might be slightly biased towards our other respondents.

 

What would we do differently next time

• Broader starting point where we include also more unlikely target segments

• Dedicate more time and resources to the exploratory research to get a better understanding of what questions to ask in the quantitative research

• Add weights to the respondents groups so they represent the market share they deserve

• Visit more areas that are not as central so we reach a broader crowd

• Ask more numerical based questions to make the statistical analysis better and more realistic

• More time is necessary to make the improvements above

 

Conclusion

 

Our sweet adventure into China has come to an end. We believe it would be in our companies interest to pursue the following:

 

• Break into the market as soon as possible since there are few competitors.

• Introduce the chocolate bar concept in the Chinese market by the first half of next year.

• Include a chocolate restaurant in the 2nd year.

• Establish the chocolate bar and restaurant in Lujiazui and Xintiandi respectively within the 5 year period.

• Adapt our products and services to Chinese preferences.

• Increase our marketing budget in this market to create brand awareness and increase market share.

• Our financial calculations and predictions indicate that our investments will break even in year 2.

 

The table has been set, ready for kings to make merry. As the adage goes: “the early bird catches the worm.” An opportunity has been discovered in the Chinese market, as there is a very huge potential demand yet to be tapped. Our immediate entry will create a huge return on investment for our company.

 

China Here we come!