between kids. The external opportunities lead to expanding business operations of chocolate
products in Malaysia. They should also make effort to improve the cost efficiency by the
implementation of advanced technology and technological support. Reduction of internal
costs in procurement, supply chain management, and outsourcing to business partners make a
wise opportunity to chocolate products in Malaysia. The lower fat and lower calories
products will hit the market and make a strong brand image in the market (
Beg, Ahmad, Jan
& Bashir, 2017).
External Threats
The close-set retail store can be self-competition to the chocolate products in
Malaysia. There are many other major competitors in the market such as Cadbury, Nestle,
KitKat, etc. It is to be seen that customers are generally purchasing branded chocolates and
small-medium manufacturers are ignored, as there are highly personified and qualified
employees (
Tan, Ali, Makhbul & Ismail, 2017).
The confectionery market has low barriers to
take entry in the market with the result that many new entrants are entering into the market,
International Business Management
6
which are providing huge investments on advertisement and marketing. There is also an
enormous market for homemade chocolates nowadays, which are going to be a threat for
chocolate products in Malaysia. It is seen that aggressive promotion from price wars and
competitors are highly affected by chocolate products in Malaysia in emerging markets. In
addition, implementation of new laws and regulations makes the organization to cancel
proposed to launch chocolate products in Malaysia (
Jaques, 2015).
Recommendation
Noosa Chocolate Factory vision and mission will be a leader in the Malaysian
chocolate market. To accomplish this, their mission should be expanding their factory to other
countries. Their fresh handcraft chocolate can distribute not only in Penang but also in other
states in Malaysia. They should make the maximum effort in attaining profit through
advertising and promotion (
Torres-Moreno, Torrescasana, Salas-Salvadó & Blanch, 2015).
It
is seen that many customers think that their chocolate is costly so promotions and marketing
could induce customers to buy the products. In addition, many of the customers do not
identify that chocolate of Noosa Chocolate Factory does not cover palm oil until they access
to their website. Therefore, advertising on T. V channel, a local newspaper, and radio can be
helpful. Their main goal is to achieve the growth of the company from $5 million to $20
million turnovers without losing concentration on target customers and brand objective
(
Afrasiabi, Honarvar & Mizani, 2016).
This concentration on the Noosa Chocolate Factory brand appears to be holding the
organization at a good pace, as competitive supermarket chocolate pricing is generating a
progressively difficult environment for other manufacturers. They should aim to produce
high-quality chocolate products and develop a brand image which is eco-friendly and healthy
(
Albak & Tekin, 2016).
