Answer 1:

## Core Strategy for Mr. Tanvir's Luxury Chocolate Business in Bangladesh

**Business Mission:**
* Clearly define the company's purpose and target audience.
* For example: "To provide Bangladeshi consumers with the finest quality, handcrafted luxury
chocolates made with premium ingredients and unique flavors."

**Basis of Differentiation:**

* Identify what sets Mr. Tanvir's chocolates apart from competitors.

* This could be unique flavor profiles, locally sourced ingredients, ethical sourcing practices, or
luxurious packaging.

**Target Market:**

* Define the specific customer segment Mr. Tanvir will focus on.
* This could be high-income individuals, corporate gifting clients, or special occasion customers.

**Product/Market Scope:**

* Determine the range of chocolate products to be offered (e.g., truffles, pralines, gift boxes) and
the distribution channels (online store, partnerships with high-end retailers).

## Operations for Mr. Tanvir's Luxury Chocolate Business in Bangladesh

**Product Production:**

* Secure reliable suppliers of high-quality chocolate ingredients and packaging materials that
meet luxury standards.
* Explore options for local suppliers or imports considering quality and cost.
* Develop recipes and production processes to ensure consistent quality and freshness.
* Consider outsourcing production if in-house facilities are not feasible initially.

**Key Partners:**

* Identify and establish relationships with key partners crucial for the business.
* This could include suppliers of ingredients, packaging, logistics companies for
temperature-controlled chocolate delivery, and potentially a marketing or branding agency.

**Additional Points:**

* Mr. Tanvir should also consider creating a financial plan outlining the investment required,
operational costs, and pricing strategy for his luxury chocolates.
* Developing a marketing strategy to reach the target market through online channels and
potentially collaborations with high-end restaurants or cafes could be crucial.
By carefully considering these core strategies and operational aspects, Mr. Tanvir can increase
his chances of successfully launching a unique and high-quality online luxury chocolate
business in Bangladesh.

Answer 2:

1. is the industry accessible in other words is it a realistic place for a new venture to enter?
2. does the industry contain market that are Raipur innovation or are underserved?
3. are there positions in the Industry that avoid sum of the negative attributes of the industry as
a whole? ( 3 questions from slide)

## Essential Questions for Mr. Tanvir's Business Plan:

**Industry Accessibility (1):**

* **Barriers to Entry:** Are there significant costs or regulations that make it difficult for new
businesses to enter the luxury chocolate market in Bangladesh?
* **Supplier Availability:** Can Mr. Tanvir find reliable suppliers of high-quality ingredients and
packaging materials at competitive prices within Bangladesh?
* **Distribution Channels:** How will he get his chocolates to customers? Are there established
channels for distributing luxury goods online or in stores?

**Market Opportunity (2):**

* **Target Market Definition:** Who is Mr. Tanvir's ideal customer for luxury chocolates?
* **Customer Needs:** What are the specific needs and preferences of his target market? How
will his chocolates differentiate themselves?
* **Market Size and Growth:** How big is the potential market for luxury chocolates in
Bangladesh? Is the market growing or shrinking?

**Competitive Advantage (3):**

* **Competition:** Who are Mr. Tanvir's main competitors in the luxury chocolate market?
* **Competitive Differentiation:** What makes Mr. Tanvir's chocolates unique and desirable
compared to competitors?
* **Marketing Strategy:** How will he reach his target market and convince them to choose his
brand?

## Red Flags to Avoid in Mr. Tanvir's Business Plan:

* **Underestimating Costs (Red Flag 4):** Has Mr. Tanvir carefully considered all the costs
associated with starting and running the business? This includes ingredient sourcing,
packaging, production, marketing, shipping, and potential overhead.
* **Poorly Defined Market (Red Flag 3):** Is Mr. Tanvir's definition of the target market too
broad? A narrow and well-defined target market will help him tailor his product and marketing
strategy for maximum impact.
* **Overly Optimistic Financials (Red Flag 4):** Are Mr. Tanvir's financial projections realistic?
It's important to factor in potential risks and setbacks when creating financial forecasts.
* **Lack of Personal Investment (Red Flag 1):** Is Mr. Tanvir willing to invest his own money in
the business? Investors are more likely to be interested in a business where the founder has
"skin in the game."
* **Lack of Planning (Red Flag 2):** Does Mr. Tanvir have a well-researched and detailed
business plan? A sloppy plan with limited research raises concerns about the viability of the
business.

By addressing these essential questions and avoiding the red flags, Mr. Tanvir can increase his
chances of developing a strong and successful business plan for his online luxury chocolate
business in Bangladesh.

Answer 3: ## Bargaining Power of Suppliers (High)

**Factors:**

* **Supplier Group Concentration:** There may be a limited number of suppliers in Bangladesh

who can provide the high-quality ingredients and packaging materials required for luxury
chocolates. This concentration gives them more leverage in setting prices and terms.
* **Switching Costs:** Switching to new suppliers can be expensive and time-consuming,
especially if Mr. Tanvir needs to develop new relationships and quality control procedures. High
switching costs give suppliers more power.
* **Attractiveness of Substitutes:** While there may be some substitute ingredients available,
they might not meet the quality standards required for luxury chocolates. Limited acceptable
substitutes strengthen suppliers' bargaining position.
* **Threat of Forward Integration:** The likelihood of suppliers entering the luxury chocolate
market themselves is probably low. However, if profit margins in the chocolate ingredient supply
business are high, suppliers might consider it, increasing their power.

**Impact on Profitability:**

* High supplier power can lead to higher costs for ingredients and packaging, squeezing Mr.
Tanvir's profit margins.

## Bargaining Power of Buyers (Moderate)

**Factors:**
* **Buyer Group Concentration:** The luxury chocolate market is likely to target a niche group
of wealthy consumers in Bangladesh. This concentration could give them some power to
negotiate prices, especially if there are few other luxury chocolate brands available.
* **Buyer's Cost:** For most buyers, luxury chocolates are not an essential good. Consumers
have the option to forgo the purchase or choose a less expensive brand, giving them some
bargaining power.
* **Degree of Standardization:** Luxury chocolates may have some degree of differentiation in
terms of flavor, ingredients, and packaging. However, there's also likely to be some level of
standardization within the luxury chocolate category. This reduces buyer power somewhat, as
they can't necessarily pressure Mr. Tanvir on price alone if the overall quality and experience are
comparable to competitors.
* **Threat of Backward Integration:** The likelihood of individual consumers making their own
luxury chocolates is very low. However, if high-end cafes or restaurants see an opportunity, they
could potentially source their own luxury chocolate ingredients, reducing Mr. Tanvir's customer
base.

**Impact on Profitability:**

* Moderate buyer power means Mr. Tanvir may have some flexibility in setting prices, but he will
still need to be mindful of competition and offer a product that justifies its premium price point to
discerning customers.

**Overall:**

Mr. Tanvir faces a situation where suppliers have a stronger bargaining position due to limited
options and high switching costs. To be profitable, he will need to carefully manage his supply
chain costs, negotiate effectively with suppliers, and potentially look for ways to source
high-quality ingredients domestically to reduce dependence on a limited pool of suppliers.

**Additional Considerations:**

* Building strong relationships with suppliers can be crucial in securing favorable pricing and
terms.
* Focusing on unique and high-quality products can help Mr. Tanvir differentiate his brand and
reduce buyer sensitivity to price.
* Exploring alternative distribution channels, such as partnerships with high-end retailers, could
help expand his customer base and reduce reliance on individual buyer price negotiation.

Answer 4:
Here are some internal growth strategies Mr. Tanvir can consider to address the melting
chocolate challenge and still compete with established brands that have physical stores:
Product Development:

Heat-resistant chocolate: Research and develop chocolates with a higher cocoa butter content
or tempering techniques that can withstand higher temperatures during shipping.
Temperature-controlled packaging: Invest in insulated packaging materials with ice packs or gel
packs to maintain cooler temperatures during delivery.
Seasonal offerings: Introduce seasonal variations focused on chocolates less prone to melting,
like truffles or chocolate-covered nuts, during hot weather months.
Process Improvement:

Improved delivery logistics: Partner

Bonus Question:
jo marzi