Positioning Dirkosh Crunch for growth in International Markets
This report is designed to assist Dirkosh, an Ethiopian enterprise producing teff-based snacks, in their goal of expanding their business to international markets. The research is comprised of three main sections: desk research conducted during fall 2017 into international markets for healthier snacks; in-country consultation in January 2018 as part of the Student Multidisciplinary Applied Research Teams (SMART) program; and further studies carried out in spring 2018, primarily a proof of concept test conducted at the Vegan Life Live festival in London, UK, in February 2018 and a stated preference choice experiment conducted online during April 2018. The analysis is broken down into seven sections, each of which evaluates a different aspect of the challenges currently being faced by Dirkosh and proposes recommendations on how Dirkosh can move forward in mitigating or overcoming these challenges. A market analysis – based on the political, economic, socio-cultural, and technological (PEST) approach – is used to assess the opportunities and challenges facing Dirkosh in international markets and provides a context for Dirkosh to position its product and brand within these markets. The target demographic is defined so that Dirkosh can better develop their communication and strategy to leverage the enthusiasm of their target audience for the product. The report then addresses Dirkosh's core competencies and how the company can better utilize its strengths to grow the business. A lack of financial modelling and investment is currently hampering Dirkosh's potential to export and attract external investors, thus this report highlights the importance of robust accounting and proposes potential sources of funding. While Dirkosh already manufactures one product, Dirkosh Crunch, the company is still working on developing the product itself, as well as its branding and packaging. This report outlines proper processing procedures that will enable Dirkosh to improve its efficiency, as well as ensure reliable, high-quality product for their distributors and retailers. A branding strategy is also supplied so that Dirkosh can work to build its brand, in online, written and verbal communications, product packaging, and social media. This will assist Dirkosh not only in promoting Dirkosh Crunch but also any other products the company develops in future. Finally, the benefits of nutritional labelling and social certification are discussed. This gives Dirkosh better insights into what their potential consumers value, and what they should focus on when marketing their products.