Products has been on a constant increase in thailand

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products has been on a constant increase in Thailand while also the purchasing power of consumers is good enough. Also, the ice cream market in Thailand is constantly growing by 2.9% annually. All these economic factors combine, they give us a good opportunity to penetrate the ice cream market and establish a market place for ourselves in Bangkok. Socio-Cultural: These days the world and people living in it especially the young lot has become really health conscious. The same is the case in Thailand. The consumers want ice cream but they have concerns about obesity and matters relating to health. This allows us to focus on this factor and provide organic ice creams, sell ice creams with low calories and we can also replace sugar with plant stevia which is healthy to cater to these concerns of the customers which our competitors are not doing so and establish a name for ourselves. Technology: Technology will allow us to market our product and shop to all the people residing in Bangkok efficiently and cheaply using the internet and social media, creating hype around our new shop, attracting consumers to it and reaching out to a large number of people. Legal: As mentioned above there are food laws and regulations in Thailand that are needed to be followed for any eatable business to be successful and we will have to make sure that the eatable offered in our shop is in line with that so that to gain consumers trust[ CITATION İhs12 \l 1033 ]. Environmental: Since we will be a newly established business and not a large firm, we can’t contribute in such environment building activities like large firms but what we can do is use healthy ingredients for our products, do recycling and contribute the little that we can to the environment in such early stages. Porter’s Five Forces Analysis Using Porter’s five forces analysis will help us analyze the competition that we will have, the business environment that is present and the profits that we can gain. 1) Competitive rivalry: Competition now in industries allows businesses to work hard, come up with innovations and keep competitive prices. As the industry has ignored many companies and businesses have started emerging and in are direct competition with each other. Within the ice cream industry through businesses and companies are usually small like ours with above 60% employing only 20 workers and above 17% employing 500 or so workers. The brand of ice creams and businesses competing with each other directly in Bangkok are Ben and Jerry's, Cold Stone Creamery and Guss Damn Good[ CITATION Mic05 \l 1033 ]. 2) The threat of Substitutes:
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Why substitutes have emerged for ice cream products and why they can become a threat is because people have become very health conscious and ice creams have ingredients that are unhealthy like fat ingredients etc. Thus other ice cream products which are termed as more healthy using organic products and less fat ingredients have become a threat to the average ice cream products. For example, frozen yogurt is termed as somewhat of healthy ice cream and has become a very popular substitute for ice cream.
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  • Spring '16
  • ice cream

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