Innovation-led Market Penetration: Strategic Entry Frameworks for Côte d’Ivoire examines how the Pyrethrum Processing Company of Kenya (PPCK) can successfully enter the Ivorian pesticide market by supplying organic pyrethrum to cocoa farmers. With the global organic cocoa market expanding, Côte d’Ivoire—the world’s largest cocoa producer—presents a strategic opportunity for PPCK to introduce a natural, environmentally friendly pesticide alternative.
The book begins by analyzing the internal and external business environment of Côte d’Ivoire using SWOT, value chain modelling, and PESTLE analysis. It then evaluates the competitive landscape through Porter’s Five Forces, followed by a detailed marketing analysis covering the 4Ps (product, price, place, promotion) and market segmentation (STP model). Based on this diagnostic framework, the author proposes a market entry strategy anchored on a differentiation approach and value‑based pricing, supported by advertising and online marketing.
The project assumes a start‑up budget of £720,000, which includes acquiring a local farm and a pesticide production facility. Key risks—such as political instability, inflation, competition from cheaper synthetic pesticides, cost overruns, and performance shortfalls—are identified, and corresponding mitigation strategies are outlined. Methodologically, the study relies on secondary data analysed through qualitative strategic tools.
Findings confirm that a viable opportunity exists for PPCK in Côte d’Ivoire, provided the company conducts thorough market research, builds a reliable distribution network, complies with local regulations, ensures quality control, and practices cultural sensitivity. The book concludes with actionable recommendations for innovation‑led market penetration in emerging African agribusiness sectors. This work is a valuable resource for agribusiness professionals, policy makers, and scholars interested in sustainable agricultural inputs and strategic entry into West African markets.
Table of Contents
Executive Summary
Acknowledgement
Chapter One
Introduction
Company Background
Aim of the Project
Objective of the study
Project Plan: Gantt Chart
Individual Critical Path
Ethical Consideration of project
Chapter Two
Literature Review.
Marketing Expansion
Business Environment Analysis Models
Internal Business Environment Analysis
Value Chain Model Analysis
External Business Environment Analysis
PESTLE Analysis
Industry Analysis Models
Porter’s Five Forces Model Analysis
Market Analysis
Marketing Mix
STP Strategy
Market Entry Strategy
Overview of Côte d'Ivoire
Chapter Three
Research Methodology
Data Collection Method
Data Collection Sources
Data Analysis Tools
Chapter 4: Analysis of Data, Results and Discussion
Objective 1: To evaluate the Internal and External Business Environment of Côte d'Ivoire
Internal Business Environment Analysis:
SWOT Analysis
Value Chain Model Analysis
External Environment Analysis
PESTLE Analysis
Objective 2: To evaluate the Competitive market and industry of Côte d'Ivoire
Porter’s Five Forces Analysis
Objectives 3: To carry out Marketing Analysis including 4Ps and Market Segmentation
Marketing Analysis (4Ps)
Market Segmentation Analysis
Objective 4: To select the market entry strategy and developing the Marketing plan
Market Entry Strategy
Marketing Plan:
STP Strategy
4Ps of Marketing
Objective 5: To evaluate the cost of the project, project risk and develop the risk mitigation plan
Project Costs
Expected Sales from the Project
Expected Income form the Project:
Project Risks Assessment and Mitigation Plan:
Analysis from the Literature Review.
Chapter Five
Recommendations and Conclusion of the Project
Recommendations
Conclusion
Contribution to Research
Future Research Directions
References
A. Gantt Chart
B. Critical Path
C. Budget
D. PowerPoint Content of The Greener
Appendices
A. Gantt Chart
B. Critical Path
C. Budget
Abstract
Innovation-led Market Penetration: Strategic Entry Frameworks for Côte d’Ivoire examines how the Pyrethrum Processing Company of Kenya (PPCK) can successfully enter the Ivorian pesticide market by supplying organic pyrethrum to cocoa farmers. With the global organic cocoa market expanding, Côte d’Ivoire—the world’s largest cocoa producer—presents a strategic opportunity for PPCK to introduce a natural, environmentally friendly pesticide alternative.
The book begins by analyzing the internal and external business environment of Côte d’Ivoire using SWOT, value chain modelling, and PESTLE analysis. It then evaluates the competitive landscape through Porter’s Five Forces, followed by a detailed marketing analysis covering the 4Ps (product, price, place, promotion) and market segmentation (STP model). Based on this diagnostic framework, the author proposes a market entry strategy anchored on a differentiation approach and value‑based pricing, supported by advertising and online marketing.
The project assumes a start‑up budget of £720,000, which includes acquiring a local farm and a pesticide production facility. Key risks—such as political instability, inflation, competition from cheaper synthetic pesticides, cost overruns, and performance shortfalls—are identified, and corresponding mitigation strategies are outlined. Methodologically, the study relies on secondary data analysed through qualitative strategic tools.
Findings confirm that a viable opportunity exists for PPCK in Côte d’Ivoire, provided the company conducts thorough market research, builds a reliable distribution network, complies with local regulations, ensures quality control, and practices cultural sensitivity. The book concludes with actionable recommendations for innovation‑led market penetration in emerging African agribusiness sectors. This work is a valuable resource for agribusiness professionals, policy makers, and scholars interested in sustainable agricultural inputs and strategic entry into West African markets.
Executive Summary
PPCK will go to Côte d'Ivoire and provide farmers there with organic pyrethrum. The PPCK initiative will alter the Côte d'Ivoire pesticide market and assist cocoa farmers in producing organic cocoa. There will be difficulties for PPCK, including rising inflation, unstable political conditions, and competition from less expensive pesticides. But PPCK may also profit from the expanding organic cocoa market. Through advertising, PPCK may draw more clients to Côte d'Ivoire. To grow the company, PPCK will use a differentiation approach and value-based pricing. Pyrethrum will be promoted by PPCK via advertising and online marketing. A start-up budget of £720000 is anticipated. In order to produce the pyrethrum, PPCK will purchase a local farm and a pesticides firm. There will be risk, such as cost overruns, time shortages, and performance concerns, among others. However, Pyrethrum has already created a mitigating strategy.
Secondary data have been analysed for this project. The methodology that is chosen is essential for gathering accurate data. PPCK's project aims to increase its presence in Côte d'Ivoire. Côte d'Ivoire needs to be aware of the market in order to make an informed decision (Patten, 2017). In this study, secondary data were gathered and processed utilising analytical methods.
Some Strategic analytic tools have been used in this project's qualitative data analysis such as SWOT analysis and value chain modelling have been used to examine the internal environment of firms. The PESTLE Model (Grinnell et al., 2009) was used to assess the external environment in this case. The Porter's Five Forces Model and Competitive Landscape have both been used to study the competitive market and industry. Both the STP Model and the Marketing Mix Model have been used to analyse the company's target market and current market. The risk assessment model is also used to analyse the hazards that organisations are now facing (Grinnell et al., 2009).
After analysing all relevant data we can say the opportunity exists for Pyrethrum Processing Company of Kenya to provide pyrethrum to cocoa farmers in Côte d'Ivoire. However, in order to be successful, PPCK must carry out comprehensive market research, establish a reliable distribution network, adopt a competitive pricing strategy, a promotional strategy, abide by legal and regulatory requirements, guarantee quality control, prioritise customer service, take cultural sensitivity into account, and use sustainable business practises (Ingram et al., 2018). By following these recommendations, PPCK can successfully enter the Ivory Coast market and expand its business.
Acknowledgement
I would like to thank the almighty who have blessed with good health that I could complete it without any problem.
I would like to thank my course teacher for the valuable support the teacher gave me
Lastly I would like to thank my family to support me always.
Chapter One
Introduction
Chrysanthemum cinerariifolium and Chrysanthemum coccineum's dried flower heads are used to make pyrethrum, a natural pesticide. Pyrethrums are its main component. Tanzania, Rwanda, and Kenya are among the nations in East Africa where pyrethrum flowers are manually collected before being dried outside to prevent fermentation, which might result in pyrethrum losses. For transit to processing facilities where they are pulverised into powder and extracted, the dried flowers are packed into hessian bags. Approximately 1.4% to 1.8% of high-quality dried flowers are pyrethrum-containing. According to UNIDO, 2020, the worldwide pyrethrum market is anticipated to expand at a CAGR of 5.93% from 2020 to 2026 (PPCK, 2022). The market's expansion is mostly due to the increasing industrial potential for pyrethrum.
Pyrethrum Processing Company of Kenya (PPCK) is a pyrethrum producer. Pyrethrum is a naturally occurring pesticide that is extracted from the pyrethrum flowers (PPCK, 2022). Insects and other unwanted creatures are killed and kept under control in agricultural products including fruits, vegetables, and flowers by the widespread use of pyrethrum. PPCK want to expand its business in Côte d'Ivoire which is the largest Cocoa producer in the world. Cocoa producers in Côte d'Ivoire mostly uses nasty synthetic insecticides (Data Commons, 2023)
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Figure: Production of cocoa beans in Ivory Coast from 2012/2013 to 2022/2023 (in 1,000 metric tons)
Source: Statista, 2023
Côte d'Ivoire producesover 45 percent of the world's cocoa beans; nevertheless, the country only gets approximately four percent of the projected annual value of the chocolate business, which is $100 billion (Statista, 2023). According to the World Economic Forum (2020), millions of cocoa farmers in the nation earn an average of just $0.78 per day to support themselves and their families. PPCK wants to target the Cocoa producers in Côte d'Ivoire as the customers and offer them organic pesticide, Pyrethrum. Cocoa industry of Côte d'Ivoire can use pyrethrum and offer the totally organic Cocoa to the customers. It will also allow the Cocoa producer demanding premium price for organic cocoa.
Company Background
Pyrethrum Processing Company of Kenya (PPCK) is a Kenyan company that concentrates on the production and processing of pyrethrum flowers, which are used in the production of insecticides and other chemical products. The headquarters of PPCK are located in Nakuru, Kenya, and it was founded in 1963 (PPCK, 2022)
The dried blooms of the chrysanthemum plant are the source of the natural pesticide pyrethrum. Small-scale farmers in Kenya who cultivate pyrethrum and provide it to PPCK are partners in the business (PPCK, 2022). To help the farmers increase the quality and yield of their pyrethrum crops, the firm offers them technical support, financial aid, training, and other resources.
Modern equipment at PPCK's processing facilities allows for the extraction of pyrethrum powder from dried flowers. Following its sale to manufacturers, the powder is used to create pesticides and other goods that are used to manage pests in livestock, agriculture, and public health (PPCK, 2022)
To enhance the quality and effectiveness of its goods, PPCK produces and processes pyrethrum in addition to doing research and development. The business has taken measures to support soil conservation, water management, and biodiversity preservation as part of its commitment to environmentally friendly and sustainable business practices (UNIDO, 2020)
In addition to advancing the financial security of small-scale farmers and safeguarding the environment, PPCK's vision is to be a pioneer in the production and processing of pyrethrum in Kenya and the larger East African area (UNIDO, 2020)
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Figure: Sales and Net Loss of Pyrethrum Processing Company of Kenya (PPCK) in KES
Source: PPCK, 2022
However, the company’s financial condition is not stable. The company is losing money from last several years. In 2019/2020, the company had sales of KES 3950000 and net loss was KES 183101 (PPCK, 2022). Same goes for the previous years.
Aim of the Project
The aim of the project is to evaluate the market of Côte d'Ivoire and develop an effective entry strategy for expanding business in Côte d'Ivoire successfully. PPCK is going to produce Pyrenhtian in Côte d'Ivoire and sell to that country.
Objective of the study
· To evaluate the Internal and External Business Environment of Côte d'Ivoire
· To evaluate the Competitive market and industry of Côte d'Ivoire
· To carry out Marketing Analysis including 4Ps and Market Segmentation
· To select the market entry strategy and developing the Marketing plan
· To evaluate the cost of the project, project risk and develop the risk mitigation plan
Project Plan: Gantt Chart
In this part, the project plan is developed first. The Project will have seven main activities such as Introduction, Literature review, Methodology, Data collection, Analysis of Data, Results and Discussion and finally recommendation and project conclusion(Onkvisit & Shaw, 2004). First the project plan is developed and then a Gantt chart is developed in this part.
Individual Gantt Chart
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Individual Critical Path
Activities
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Critical Path Drawing:
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Figure: Critical Path
Source: Self-made
The Highest Time will be = 1+15+2+5+3+4+7= 37 days
The Shortest Time will be = 1+15+1+1= 18 Days
Ethical Consideration of project
This project involves with market research analysis and identifying the entry strategy. In this project the activities will be conducted legally. Secondary data will be collected for this research and reliable tools will be used for analysis(Min, et al., 2017). This research will have a clear financial prediction. Transparency and accountability, both will be maintain in this research.
Chapter Two
Literature Review
In this part of the project, the literature about the market, market analysis, entry strategy etc. are analysed. In this consultancy project, selection of market requires realistic information. The decision making also requires effective process(Ajayi & Akinnifesi, 2017). Here, the existing information have been presented.
Marketing Expansion
Market expansion is the practise of growing a business's customersby breaking into new domestic or foreign markets. It entails spotting and studying fresh development prospects as well as creating market entry methods that work(Jeannet & Hennessey, 2015).
Companies open up new markets for a variety of purposes, including to boost sales income, reach out to new clients, diversify their clientele, lessen reliance on a particular product or market, and enhance market share(Saunders, et al., 2009). Market expansion enables businesses to take use of their current assets, knowledge, and brand awareness to enter new markets, enlarge their clientele, and eventually spur development.
Market growth take many different forms, including building additional physical shops, starting online stores, and establishing operations in new areas, forming commercial partnerships, or buying rival organisations(Omar, et al., 2009). However, market growth also comes with a number of dangers and difficulties, such as new competitors, cultural and legal variances, and elevated marketing and distribution expenses.
In general, businesses expand into new markets to boost their income streams and maintain their competitiveness in the ever-evolving business environment. Businesses boost sales, earnings, and chances for innovation and growth by diversifying their markets(Mutalimov, et al., 2020).
According to Dinu, (2018), complete market research is necessary to comprehend the regional market circumstances, cultural variances, customer behaviour, and rivalry in the new market. According to Schlegelmilch, (2022), the business is required to abide by all applicable local rules and ordinances, including tax laws, product safety requirements, and labour laws. If you don't, you risk legal repercussions and reputational harm.
The expansion into new markets requires a large investment in infrastructure, distribution, and marketing, as proven by Vrbka, (2020). The business should make sure it has enough cash on hand to support operations and finance the growth until it turns a profit.
According to Terpstra, et al., (2012), the business should make sure it has the essential human resources to support the growth, including employing local workers, providing them with the proper training, and adjusting them to the workplace culture in the area.
According to Czinkota and Ronkainen, (2013), the business should evaluate the possible risks related to entering a new market, such as political unpredictability, economic volatility, and exchange rate changes. To address these risks, it has to create backup plans.
In order to set itself apart from its rivals and obtain a competitive edge, the firm, in the opinion of Paliwoda and Thomas, (2013), has to assess the local competition and design a plan. Additionally, the business must create a localised marketing plan that appeals to local customers and clearly conveys the value of its goods and services. A corporation raise the chance of a successful market expansion and reduce the risks connected with entering new markets by taking these aspects into account(Jeannet & Hennessey, 2015).
Business Environment Analysis Models
Business environment analysis is the process of identifying, analysing, and comparing the internal and external variables that affect a company's operations and potential for development(Kotabe & Helsen, 2022). It entails analysing the company's strengths, weaknesses, opportunities, and threats (SWOT analysis) as well as assessing market trends, consumer behaviour, rivals, the legal system, the financial situation, and other variables that have an influence on the company's success(Terpstra, et al., 2012).
Before entering a new market, it is essential to do a business environment study since it enables the firm to establish a thorough market entrance plan and make educated choices. The study offers vital information about the potential, rivalry, consumer demands, and legal requirements of the new market, enabling the business to modify its goods, services, and marketing plans to suit the demands and preferences of the regional market(Ansoff, et al., 2018).
The business environment analysis aids the company in identifying the opportunities and risks related to entering the new market, including the market's size, potential for growth, competitive environment, entry barriers, cultural differences, and other elements that affect the company's success in the new market(Mutalimov, et al., 2020).
A business environment study also gives a company the chance to assess its own resources and skills and decide if it is ready to join a new market. It enables the business to spot knowledge, skill, or infrastructural deficiencies and create a strategy to fix them ahead of entering the new market(Min, et al., 2017).
In conclusion, doing a business environment study is crucial for a firm to make knowledgeable choices, reduce risks, and maximise potential when entering a new market(Ansoff, et al., 2018). It offers a strong base for creating a successful market entrance plan that will aid the firm in achieving its growth goals and growing its clientele in new geographies.
Internal Business Environment Analysis
Analysing a company's internal elements that affect its operations, performance, and competitiveness is referred to the internal business environment(Parnell, 2013). In order to identify areas for development and prospective growth possibilities, it entails examining the company's strengths, weaknesses, resources, capabilities, and culture(Kotabe & Helsen, 2022).
An internal examination of the business environment is carried out to determine the company's existing standing and room for expansion. The company's internal capabilities, including its people resources, financial resources, technology, infrastructure, and procedures, are critically revealed(Sadia-Kacou, et al., 2017). The firm identify its areas of strength and weakness by studying these variables, and then create a strategy to build on its advantages and correct its disadvantages.
The internal study of the business environment assists the organisation in identifying its core capabilities and unique selling proposition and in creating a plan to set itself apart from its rivals(Sadia-Kacou, et al., 2017). Additionally, it aids in locating potential areas for innovation and growth inside the organisation, such as brand-new service or product offerings or business models.
The organisation also identifies the gaps that need to be filled in order to accomplish its objectives by performing an internal business environment study to match its resources and capabilities with its strategic objectives (Ingram, et al., 2018). It offers a base for creating a successful business plan that spur expansion, raise profitability, and improve the company's market competitiveness.
SWOT Analysis
SWOT analysis is a strategic planning tool used to evaluate an organization's strengths, weaknesses, opportunities, and threats(Schlegelmilch, 2022). The acronym SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis is a common technique among firms of all sizes since it is straightforward and simple to implement, claims (Paliwoda & Thomas, 2013). The internal and external elements that have an influence on the organisation are thoroughly outlined by a SWOT analysis. SWOT analysis is a versatile method that is used for a number of tasks, including appraising a new product, breaking into a new market, or gauging a company's general performance(Dinu, 2018). SWOT analysis is a resource-efficient method that the company use internally and that uses little resources. Organisations prioritise their activities based on the most important opportunities and threats with the use of a SWOT analysis.
Terpstra, et al., (2012) claimed that SWOT analysis only offers a brief study of an organization's internal and external elements and do not go deep enough to address complicated problems. SWOT analyses only assess an organization's internal and external aspects; they so not take into account other crucial elements like political, social, and economic ones(Czinkota & Ronkainen, 2013). Too often, businesses neglect other crucial elements that might have an influence on their success in favour of the SWOT analysis. Due to the lack of action prioritisation provided by SWOT analysis, organisations find it difficult to choose which activities to prioritise(Dinu, 2018).
A SWOT analysis is a great tool for businesses to assess their internal and external elements and create a plan that builds on their strengths, corrects their weaknesses, and takes advantage of opportunities while minimising threats(Kotabe & Helsen, 2022). To guarantee a thorough and successful strategic planning process, it is crucial to be aware of the constraints and possible shortcomings of SWOT analysis and to complement it with other tools and methodologies(Mutalimov, et al., 2020).
Value Chain Model Analysis
The value chain model analysis is a framework that pinpoints the series of tasks that enhance the worth of an organization's goods and services. To find opportunities like improvement, possible cost savings or value creation, it entails analysing the organization's core and auxiliary functions as well as how they interact(Mutalimov, et al., 2020).
To determine the organization's key capabilities, comprehend its cost structure, and design plans to improve its competitiveness and profitability, a value chain model study is performed. An organized method of identifying the organization's value-adding activities and the cost drivers connected to each activity is provided by the value chain model study(Sadia-Kacou, et al., 2017). It also aids in identifying potential areas for cost and operational savings for the firm.
The value chain model analysis gives managers a thorough understanding of the organization's activities, allowing them to see how each action affects the performance of the whole. The value chain model study aids in identifying areas where the company cut expenses or boost productivity, leading to cost savings and increased profitability(Kotabe & Helsen, 2022). The examination of the value chain model aids in identifying opportunities for the firm to raise customer value and satisfaction. A company creates a competitive edge by identifying its key capabilities with the use of the value chain model study.
Nevertheless, Ingram, et al., (2018) claimed that value chain model analysis might take a while, particularly for big and complicated firms. The value chain model analysis solely takes into account internal operations of the company and ignores outside variables like market circumstances or regulatory changes. The examination of the value chain model result in an overemphasis on cost reduction at the expense of other elements like quality or innovation(Ingram, et al., 2018). The value chain model analysis could not include every cost driver or value-adding activity, making it incomplete.
Organizations analyse their operations, identify areas for improvement, and create plans to boost their competitiveness and profitability by using the value chain model analysis. To guarantee a thorough and efficient strategic planning process, it is crucial to be aware of the value chain model analysis's limits and possible downsides and to augment it with other tools and approaches(Kotabe & Helsen, 2022).
External Business Environment Analysis
External business environment analysis is the analysing the external elements that have an impact on an organization's performance and success. Understanding their operational environment, including the commercial, economic, social, technical, legal, and political aspects that have an influence on their operations and strategy, is a key goal of this research for businesses(Grinnell, et al., 2009).
To determine the opportunities and hazards available in the external environment, a study of the external business environment is undertaken. It lets the company to modify its strategy in response to shifting market circumstances by giving insight into both present and future market trends(Patten, 2017). Organizations use it to detect possible hazards and create strategies to reduce them.
Organizations keep one step ahead of the competition, foresee market shifts, and discover fresh development prospects by undertaking an external business environment study(Ritson, 2008). Additionally, it aids in the development of a competitive edge and the alignment of an organization's strategy with the external environment.
Overall, the examination of the external business environment is an important part of strategic planning because it enables firms to recognize the external elements that have an influence on their performance and to modify their strategies as necessary(Terpstra, et al., 2012). Regular external business environment analyses are required to make sure the company maintains its competitiveness and evolves with the market.
PESTLE Analysis
PESTLE analysis is a technique for analysing the macro-environmental elements that are external to an organization and have an influence on its daily operations. Political, Economic, Social, Technological, Legal, and Environmental elements are referred to as PESTLE(Kotabe & Helsen, 2022). It is carried out to find out what hazards and possibilities are there in the outside world.
The PESTLE study gives enterprises a thorough understanding of the external environment, allowing them to see possible problems and possibilities. It aids businesses in comprehending both present and upcoming market trends, allowing them to modify their strategy as necessary(Mulagoli, 2021).
PESTLE analysis, in accordance with Kotabe & Helsen, (2022), offers a thorough perspective of the external environment, allowing firms to comprehend the influence of each component on their operations. Organizations build a competitive edge by using PESTLE analysis to match their strategy with the external environment. PESTLE research helps businesses to foresee market shifts and modify their strategy as necessary(Kotabe & Helsen, 2022). Organizations identify possible risks and create strategies to minimize them with the use of PESTLE analysis.
The PESTLE study, according to Ansoff, et al., (2018), only considers external elements and do not provide a complete picture of how the business operates. It might take a while to complete a PESTLE study, particularly for big and complicated businesses. The PESTLE analysis makes future-based assumptions, hence it is not be able to foresee changes in the market.
PESTLE analysis is a valuable technique for businesses to identify the outside forces that have an influence on how they do business. It enables businesses to foresee market shifts and modify their strategies appropriately, giving them a competitive edge(Masiero, et al., 2017). To guarantee a thorough and efficient strategic planning process, it is crucial to be aware of the PESTLE analysis's limits and possible downsides and augment it with additional tools and approaches(Sadia-Kacou, et al., 2017).
Industry Analysis Models
Industry analysis models are used to assess an industry's level of competition. These models assist businesses in comprehending the state of the market, evaluating the competition, and seeing prospective opportunities and risks(Kotabe & Helsen, 2022). In order to understand the structure, trends, and performance of an industry, as well as its potential for development, level of competition, and supplier and buyer negotiating power, industry analysis models are used. Organizations make well-informed choices about their operations, such as choosing the best tactics to compete successfully, spotting new market possibilities, and foreseeing market changes, by studying the dynamics of the industry(Parnell, 2013). Businesses that wish to excel in a certain sector and keep one step ahead of their rivals must use industry analysis models.
Porter’s Five Forces Model Analysis
Porter's Five Forces Model is a framework used to analyse the competitive environment of an industry. The five factors include the danger of new competitors, the bargaining power of consumers, the negotiating power of suppliers, the risk of substitutes, and the ferocity of interdependent competition(Ansoff, et al., 2018). The goal of this research is to comprehend the market's degree of competitiveness and the industry's overall structure.
According to Ingram, et al., (2018), it offers a thorough analysis of the competitive environment, including elements that affect competitiveness. Organizations use it to develop a competitive edge by integrating their strategy with the marketplace. Organizations are able to foresee changes in the competitive environment and modify their approach as necessary.
But Jeannet & Hennessey, (2015) claimed that it does not provide a complete picture of the sector and could overlook certain factors that might have an influence on the level of competition. Conducting a comprehensive study might take a lot of time. It does not take into account all pertinent elements and oversimplifies how complicated the competitive landscape is(Jeannet & Hennessey, 2015).
In general, firms utilise Porter's Five Forces Model to better understand the industry's competitive landscape. To guarantee a thorough and efficient strategic planning process, it is crucial to be aware of the constraints and possible shortcomings of this model and to complement it with additional tools and methodologies(Grinnell, et al., 2009).
Market Analysis
Market analysis is the process of acquiring data about a certain market to comprehend its traits, trends, rivalry, and potential. It entails analysing data about the market, consumers, and rivals to provide insights that guide business choices(Grinnell, et al., 2009). Market study is done to find new prospects for development and expansion, to assess a product or service's feasibility in a particular market, and to create successful marketing plans. With a greater knowledge of their target market, their tastes, and their purchasing patterns, firms are better able to develop goods and services that cater to their requirements and desires(Ajayi O. A., et al., 2009). In the end, market research is a vital tool for firms to decide wisely and succeed in their selected markets.
Marketing Mix
The "marketing mix" describes the assortment of components a business utilizes to market its goods or services. The four Ps of marketing includes product, pricing, promotion, and place(Czinkota & Ronkainen, 2013).The marketing mix is created to satisfy the demands of the target market and provide the business a competitive edge.
To make sure that the correct product is provided at the right price, in the right location, and with the proper promotion, marketing mix is used. Businesses enhance their marketing efforts and eventually increase revenue by analysing these factors and making educated choices(Jeannet & Hennessey, 2015).
According to Kotabe & Helsen, (2022) marketing mix, it offers a methodical method for developing a marketing strategy. Businesses develop a coherent marketing plan that connects with their consumers and helps them accomplish their company goals by analysing their target market and taking into account the 4Ps.
However, Onkvisit & Shaw, (2004) cliamed that the marketing mix is rigid and unable to modify in response to market fluctuations or unforeseen circumstances. Additionally, it could be too preoccupied with the product and not pay enough attention to the wants and preferences of the clientele. Additionally, it sometimes fails to recognize the need of creating long-term client connections, which is essential for achieving sustainable corporate success.
STP Strategy
STP strategy refers to segmentation, targeting, and positioning. It is a marketing strategy that entails segmenting a market into discrete groups of consumers with comparable wants and traits, choosing the most desirable segments, and creating a specific value proposition for each target market(Terpstra, et al., 2012).
Businesses provide more effective and relevant marketing messages to their target customers by using the STP approach. Businesses create customized marketing tactics that connect with their clients by segmenting the market and establishing distinct customer groups, which increases the chance of conversion and client loyalty(Omar, et al., 2009).
The benefit of STP strategy is that it allows companies to develop more insightful marketing campaigns by assisting them in better understanding their clients' requirements and wants. Additionally, it aids organizations in standing out from rivals, which boosts market share and profitability(Ingram, et al., 2018). Additionally, since their marketing efforts can be targeted more accurately, it enables firms to maximize the money they spend on marketing.
The disadvantages of the STP method, however, include the fact that doing good market segmentation and market research take a lot of time and money. Additionally, creating distinctive value propositions for each target market and determining the most desirable segments are difficult(Czinkota & Ronkainen, 2013). Finally, there is a chance that companies place too much emphasis on segmentation and disregard the value of communicating a consistent brand message to all of their target consumers.
Market Entry Strategy
Businesses enter new markets using a variety of entrance strategies, such as:
Exporting: Exporting refers to the selling goods or services produced in one nation to clients in another nation. Low investment costs, little risk, and access to new markets are all advantages of exporting(Min, et al., 2017). However, disadvantages include limited control over price and distribution as well as possible roadblocks like trade rules and tariffs(Paliwoda & Thomas, 2013).
Licensing: Licensing is the process of allowing one firm to utilize another's technology or intellectual property in return for fees or royalties. Low investment costs, less risk, and access to new markets are advantages of licensing(Kotabe & Helsen, 2022). However, disadvantages include possible licensee competition and little control over how the licensed IP is used(Paliwoda & Thomas, 2013).
Joint Venture: Partnership between two or more businesses that shares ownership, management, and earnings is referred to as a joint venture. Access to local knowledge and skills, shared investment expenses, and less risk are all advantages of joint ventures(Ansoff, et al., 2018). However, disadvantages include the requirement for efficient communication and coordination as well as the possibility of partner disputes(Ritson, 2008).
Franchise: A franchisee is given permission to use the company's name and operating system in return for payments and royalties. Low investment costs, lower risk, and access to new markets are advantages of franchising(Ajayi O. A., et al., 2009). However, disadvantages include a lack of control over franchisees and significant reputational harm to the business(Ingram, et al., 2018).
Direct investment: Direct investment entails creating a new subsidiary or buying an existing business to create a physical presence in a foreign market. Greater operational control, access to local knowledge and skills, and significant cost savings are advantages of direct investment(Sadia-Kacou, et al., 2017). Large investment, large risk, and possible cultural barriers are negative impact of direct investment.
In summary, each entrance strategy has advantages and disadvantages of its own, and the choice of mode is influenced by things like investment costs, risk, and accessibility to local knowledge and experience(Ingram, et al., 2018). Enterprises should carefully weigh their alternatives and choose the entry approach that best satisfies their requirements and goals.
Overview of Côte d'Ivoire
Côte d'Ivoire, sometimes referred to as the Ivory Coast, is a country in West Africa. Liberia, Ghana, Burkina Faso, Mali, and Burkina Faso are its neighbours to the west, east, north, and northwest, respectively. There are around 28 million people living there, and French is the official language(Ingram, et al., 2018)
The economy of Côte d'Ivoire is based mostly on agriculture, with cocoa being the principal export good. Palm oil, cotton, and coffee are a few more significant exporters. All around the country are significant natural resources, such as gold and diamonds(Sadia-Kacou, et al., 2017). The majority of the population of Côte d'Ivoire is Muslim, followed by Christians, followers of traditional African religions, and other ethnic and religious groups. The country has a wide variety of artistic traditions, such as dance, music, and visual arts (Mulagoli, 2021)
Côte d'Ivoire's political history has been marked by both stable and tumultuous periods. The country has seen many coups and civil wars since it broke away from France in 1960. The country has made progress in recent years toward political stability, and a successful presidential election in 2020 will cement that progress(Mulagoli, 2021).
Despite considerable progress, Côte d'Ivoire still faces several issues, including poverty, inequality, and corruption. To address these issues, the government has implemented a variety of initiatives, including measures to improve infrastructure, promote economic growth, and combat corruption(Ajayi & Akinnifesi, 2017).
Pyrenhtian industry in Côte d'Ivoire has opportunities and threats related to production of pyrethrum. Consider some of the following crucial factors:
Opportunities:
High demand for natural insecticides: There is rising demand for natural insecticides like pyrethrum as people become more concerned about the negative effects of synthetic pesticides on human health and the environment(Ajayi & Akinnifesi, 2017). This gives Côte d'Ivoire the chance to enhance pyrethrum production and sell it to countries that value organic and natural goods.
Favourable climate and soil conditions: Climate and soil conditions of Côte d'Ivoire are ideal for growing pyrethrum, which needs cold temperatures and well-drained soils. Côte d'Ivoire has taken use of these inherent advantages to boost pyrethrum production and participate in the international market(Ajayi O. A., et al., 2009).
Job creation and income generation: The pyrethrum sector of Côte d'Ivoire has the potential to employ people and bring in money for small-scale farmers, especially in rural regions with high rates of poverty. This enhance livelihoods and lessen poverty(Ingram, et al., 2018).
Threats:
Competition from other countries: Nations like Kenya, Tanzania, and Rwanda that also produce pyrethrum compete with Côte d'Ivoire. It is challenging for Côte d'Ivoire to compete with these nations since they have established markets and cheaper manufacturing costs(Ajayi & Akinnifesi, 2017).
Lack of infrastructure: The pyrethrum business needs extensive infrastructure, including storage facilities, transportation networks, and processing facilities. It is difficult for Côte d'Ivoire to draw in the capital required to build this infrastructure, especially in rural regions(Ajayi O. A., et al., 2009).
Climate change: If temperatures increase and rainfall patterns change, it have a detrimental effect on the production of pyrethrum in Côte d'Ivoire. This could result in lower yields and more challenging production of high-quality pyrethrum(Ajayi O. A., et al., 2009).
Pests and diseases: Pyrethrum plants are susceptible to diseases and pests, which lower quality and yields. To recognize and counteract these dangers and maintain sustainable production, Côte d'Ivoire need to engage in research and development(Min, et al., 2017).
Companies of pyrethrum in Côte d'Ivoire
Côte d'Ivoire has a number of companies involved in the production of pyrethrum, including:
Société de développement et de promotion de l'agriculture (SODEPRA): Pyrethrum is produced in Côte d'Ivoire under the direction of SODEPRA, a state-owned enterprise. It collaborates with small-scale farmers to promote pyrethrum growing and offers technical support and training to increase output(Ajayi & Akinnifesi, 2017).
Compagnie Ivoirienne des Produits Phytosanitaires (CIPP): Agricultural inputs, particularly pesticides based on pyrethrum, are produced and distributed by CIPP, a private corporation. To provide efficient and long-lasting pest control solutions, it collaborates with farmers and agribusinesses(Ajayi & Akinnifesi, 2017).
Centre National de Recherche Agronomique (CNRA): The CNRA is a research organization with the goal of enhancing Côte d'Ivoire's agricultural sector. To increase yields and quality, it undertakes research on a range of crops, including pyrethrum(Ajayi & Akinnifesi, 2017).
Phyto-Riker: Insecticides made with pyrethrum are created and exported by a private firm called Phyto-Riker. It collaborates with small-scale farmers to advance organic and sustainable agricultural methods and raise the quality of pyrethrum being produced(Ajayi & Akinnifesi, 2017).
Beleaf: Beleaf is a multinational agribusiness that manufactures and sells natural plant-based goods including pyrethrum-based pesticides, to advance sustainable agricultural methods and enhance farmers' livelihoods, it collaborates with small-scale farmers in Côte d'Ivoire(Ajayi & Akinnifesi, 2017).
Chapter Three
Research Methodology
This section is focused on how the data is collected and analysed in this project. Selecting the methodology is crucial for collecting reliable information. In project, PPCK wants to expand in Côte d'Ivoire. For making the decision properly, Côte d'Ivoire needs to know about the market(Patten, 2017). Secondary data have been collected in this research and analysed by using analytical tools. In this part, the source of data and how the data are analysed have been presented.
Data Collection Method
Secondary research method have been used in this research. The "secondary research method" describes the procedure of collecting and examining data that has previously been gathered and made public by other researchers or organizations(Patten, 2017). In order to obtain information pertinent to the study issue or problem, the secondary sources of data, such as scholarly papers, government studies, market research reports, and statistical databases are used. In this research, data are collected from articles, research papers, statistics and databases(Saunders, et al., 2009).
Data Collection Sources
In this project, data are collected from the secondary sources. Information that has previously been gathered and examined by other researchers or organizations is referred to as a secondary source of data(Grinnell, et al., 2009). This information are used to assist or enhance the study and analysis being done by people or organizations.
Academic journals, official reports, statistical databases, and trade publications are a few examples of secondary sources of data which are used in this project. These resources provide a wealth of knowledge on a wide range of subjects, including social trends, economic indicators, demographic trends, and historical events(Grinnell, et al., 2009). Here, data that are related to the pyrethrum business of Côte d'Ivoire and how PPCK can enter into the Côte d'Ivoire.
Data are collected from both internal and external sources. Databases of customers, sales reports, and corporate records are the internal sources of secondary data that have been used in this project(Saunders, et al., 2009). Government publications, business reports, and university research are the sources of secondary data that have been used also.
Data Analysis Tools
In this project, qualitative data analysis has been conducted by using strategic analysis tools. Internal environment of businesses has been analysed by using SWOT Model and value Chain Model. External Environment has been analysed here using PESTLE Model(Grinnell, et al., 2009). Competitive market and industry have bene analysed by using the Porter’s five forces Model and Competitive Landscape. STP Model and Marketing Mix Model both have been used analysing the target customers and existing market of the company. Risk Assessment Model is also used for analysing the existing risks for the businesses(Grinnell, et al., 2009).
Chapter Four
Analysis of Data, Results and Discussion
In this part of the project, the data have been analysed and results have been summarised. The project is going to focus on how PPCK can enter into the Côte d'Ivoire and target the Cocoa producer for using the Pyrethrum.
Objective 1: To evaluate the Internal and External Business Environment of Côte d'Ivoire
Internal Business Environment Analysis:
Internal environment analysis is conducted here by using SWOT analysis and Value Chain Model analysis.
SWOT Analysis
PPCK wants to expand the business in Côte d'Ivoire which is the largest Cocoa producer in the world. Before interring into the market, PPCK needs to understand its own strengths and weaknesses before entering into the market. Following is the SWOT Analysis for this project:
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To sum up, while there are some challenges and risks associated with PPCK's plan to enter the Ivorian market, there are also several opportunities and strengths that it can leverage to succeed. By carefully evaluating the market, building partnerships, and addressing logistical challenges, PPCK can establish a strong presence in Côte d'Ivoire and provide Ivorian cocoa producers with high-quality, organic pesticide solutions (PPCK, 2022).
Value Chain Model Analysis
The value chain model analysis of Pyrethrum Processing Company of Kenya (PPCK) is a useful tool for understanding the company's performance and capabilities. The value chain model identifies the primary activities and supportive activities that are involved in the production and delivery of a product or service(Ingram, et al., 2018).
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Figure: Value Chain Model Analysis
Source: (Jeannet & Hennessey, 2015)
Primary Activities
In the case of PPCK, the primary activities include inbound logistics, operations, outbound logistics, marketing and sales, and service. The supportive activities include firm infrastructure, human resource management, technology development, and procurement.
Inbound logistics: Inbound logistics involves the activities related to receiving and storing raw materials, such as pyrethrum flowers, from suppliers. PPCK has a well-established network of pyrethrum farmers who supply the company with flowers (PPCK, 2022). The company has also invested in storage facilities to ensure that the flowers are stored in a suitable environment before processing.
Operations: Operations involve the processes involved in converting the raw materials into finished products. PPCK's main operations include the extraction of pyrethrum from the flowers and the production of pyrethrum extract (PPCK, 2022). The company has invested in modern processing equipment and employs trained personnel to ensure that the quality of its products meets international standards.
Outbound Logistics: Outbound logistics involve the activities related to delivering the finished products to customers. PPCK has established distribution networks both locally and internationally to ensure that its products reach its target markets. The company also provides transportation services to farmers who supply it with pyrethrum flowers (PPCK, 2022).
Marketing and Sales: Marketing and sales involve the activities related to promoting and selling the company's products to customers. PPCK has a dedicated marketing team that uses various marketing channels, including trade fairs, to promote its products. The company also has an online presence that enables customers to access information about its products (PPCK, 2022).
Service Involves: Service involves the activities related to providing after-sales support to customers. PPCK provides technical support to its customers and also trains farmers on best practices in pyrethrum farming (PPCK, 2022).
Supportive Activities
Supportive activities include firm infrastructure, human resource management, technology development, and procurement. Firm infrastructure involves the activities related to the management and administration of the company (Ajayi & Akinnifesi, 2017). PPCK has a well-established organizational structure that ensures that the company's operations are well-coordinated (PPCK, 2022).
Firms Infrastructure: PPCK has a well-established firm infrastructure that includes a management team responsible for the administration and coordination of the company's operations. The company has also invested in modern processing equipment and storage facilities to ensure the quality of its products. Additionally, PPCK has a robust procurement system that sources quality raw materials and equipment at competitive prices (PPCK, 2022). The company's firm infrastructure is key to its success in the pyrethrum processing industry.
HRM: Human resource management involves the activities related to recruiting, training, and retaining employees. PPCK invests in the training of its employees to ensure that they have the necessary skills to perform their roles effectively (PPCK, 2022).
Technology development: Technology development involves the activities related to the research and development of new technologies to improve the company's operations. PPCK has invested in research and development to improve the quality of its products and increase its production capacity(Ajayi & Akinnifesi, 2017).
Procurement: Procurement involves the activities related to sourcing and purchasing raw materials, equipment, and other resources. PPCK has a well-established procurement system that ensures that the company sources quality raw materials and equipment at competitive prices (PPCK, 2022).
In summary, the value chain model analysis of PPCK shows that the company has a well-coordinated and efficient system for the production and delivery of its products. The company's investment in modern processing equipment, storage facilities, and research and development has enabled it to maintain high-quality products that meet international standards. Additionally, the company's well-established network of pyrethrum farmers and distribution channels has enabled it to reach its target markets. PPCK's investment in its employees through training and development has also played a significant role in the company's success.
External Environment Analysis
PESTLE Analysis
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Objective 2: To evaluate the Competitive market and industry of Côte d'Ivoire
Porter’s Five Forces Analysis
To evaluate the pyrethrum industry in Côte d'Ivoire, Porter's Five Forces Model is used here, which identifies five key forces that determine the competitive intensity and profitability of an industry.
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For PPCK, the pyrethrum industry in Côte d'Ivoire offers both potential and challenges. The danger of new competitors is little, and suppliers' negotiating leverage is also minimal, while the threat of replacement goods or services is comparatively strong. Additionally, purchasers have little negotiating leverage, but if demand for organic pesticides were to considerably rise, this change. Before entering the Côte d'Ivoire market, PPCK must carefully take into account these forces and formulate a plan that focuses on both possibilities and difficulties.
Objectives 3: To carry out Marketing Analysis including 4Ps and Market Segmentation
Marketing Analysis (4Ps)
Four Ps of marketing shows the marketing strategies of the company. PPCK has designed its marketing mix based on the product quality and standard. The Company has used premium strategies for the product. Following is the 4Ps Analysis of PPCK:
Product: PPCK is primarily engaged in the production and processing of pyrethrum flowers into pyrethrum, an organic pesticide used in a range of agricultural applications. PPCK has its own farmland to cultivate pyrethrum flowers (PPCK, 2022). After producing the pyrethrum flowers, the company take them to the factories where the flowers are turned into powder and liquid. PPCK ensures that the entire process is organic and there is no chemical in it.
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Figure: Pyrethrum Flower
Source: (PPCK, 2022).
PPCK is dedicated to making high-quality goods that adhere to global standards. PPCK has created a variety of pyrethrum products, including liquid concentrates, dusts, and emulsifiable concentrates, which are sold under the trade name "Pyrethrum Plus". The Company is using differentiation strategy to develop the products (PPCK, 2022). The customers can identify the difference between other pesticides and the quality of PPCK.
Price: Due of their excellent quality and organic certification, PPCK has implemented the premium pricing approach for its pyrethrum products. Although more expensive than some of the other organic options on the market, the company's products are less expensive than synthetic pesticides (PPCK, 2022). The company uses premium pricing to make the customers known about the high quality of the product but this also makes the customers shift towards the cheaper chemical pesticides. However, PPCK gives discounts to customers who make several purchases, encouraging big-ticket purchases.
Promotion: PPCK primarily uses a B2B marketing approach to promote its pyrethrum products. The Company carries out advertising, sales promotion, Direct marketing, Personal selling etc. There are TV advertisements, Radio advertisements, Bill boards, newspaper advertisements etc. (PPCK, 2022). To advertise its goods and meet prospective consumers, PPCK takes part in agricultural trade exhibitions, seminars, and conferences. In order to connect with consumers and keep them updated on new goods, discounts, and other news, PPCK also employs digital marketing methods including email marketing and social media(Onkvisit & Shaw, 2004). The Company also provides discounts to its regular customers to make them loyal to the company.
Place: PPCK has a well-established distribution network that reaches customers across Kenya and other East African countries. PPCK collaborates with retailers, distributors, and other middlemen to make sure its goods are accessible in important markets. PPCK has directed communicated with the farmers to sell the Pyrethrum pesticides to them and also communicated with the retailers and distributors. Customers can buy straight from PPCK through an online shop as well. However, the company has not taken care the online shop effectively. There is lack of update in websites of the company.
PPCK has created a thorough marketing mix that consists of a premium product line, premium pricing strategy, B2B promotional approach, and a solid distribution network. The firm has been able to build a significant presence in the East African pyrethrum market and position itself as a top manufacturer of organic pesticides by concentrating on these essential factors(Sadia-Kacou, et al., 2017).
Market Segmentation Analysis
In this part, STP analysis is conducted on PPCK to know about its market segmentation and target customers.
Segmentation:
Based on the need for organic pesticides in the agriculture sector, PPCK divides its market into groups. The business primarily targets farmers, agricultural cooperatives, and other businesses that value ecologically friendly and organic pest management methods(Onkvisit & Shaw, 2004). In order to meet the growing demand for organic pesticides in Kenya and East Africa, the firm additionally divides its market depending on location. Following is the details of the segmentation:
Demographic Segmentation: PPCK now carries out the demographic segmentation by using the profession, age, gender, income of the customers. Demographic segmentation helps PPCK to identify which type of people is going to use the organic pesticides (Ingram, et al., 2018)
Geographic Segmentation: PPCK use nation and city for the Geographic segmentation of the customers right now. Using Geographic segmentation helps to identify the need of the nations and develop the products according to it.
Psychographic Segmentation: PPCK use Interest, values and attitudes of the customers for Psychographic Segmentation. Psychographics segmentation helps to connect the customers emotionally and mentally to the products.
Behavioural Segmentation: PPCK uses Benefit Sought, Customer Loyalty, and Usage rate for the Psychographic segmentation. Behavioural segmentation helps PPCK to identify which benefit the customer’s wants and how PPCK can have loyal customers.
Targeting:
Customers searching for high-quality, natural, and sustainable pest control solutions are the ones that PPCK targets. The business primarily serves farmers and agricultural cooperatives who are searching for sustainable pest management solutions that are both efficient and safe for the environment and their crops. PPCK also focuses on businesses that support organic products and sustainable agricultural methods(Ansoff, et al., 2018). Following are the details of target customers of PPCK:
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Positioning:
PPCK markets itself as a top manufacturer of organic pesticides using pyrethrum as an ingredient. The business emphasises the superior quality of its goods, which are approved as organic and adhere to global standards. In addition, PPCK promotes itself as a pest management method that is sustainable and kind to the environment, enabling growers to do so without negatively impacting the ecosystem(Ajayi & Akinnifesi, 2017). Company uses Differentiation startegy for positioning the pesticides. The Product quality is high and price us also high.
Objective 4: To select the market entry strategy and developing the Marketing plan
Market Entry Strategy
The Pyrethrum Processing Company of Kenya (PPCK) can consider several entry modes while entering the Ivorian market. The selection of an entrance mechanism will be influenced by a number of elements, such as market features, rivalry, rules, and the resources that are accessible(Dinu, 2018). The following are some potential entrance methods and tactics that PPCK might use to get into the Ivorian market:
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Selected Strategy for PPCK
As acquisition provides a number of benefits, it should be considered by PPCK as a way to join the Ivorian market. The first benefit of acquisition is that it enables PPCK to swiftly establish a presence in Côte d'Ivoire by purchasing an established business with an established clientele and distribution system(Masiero, et al., 2017). Acquisition will assist PPCK in overcoming entrance obstacles and fast beginning to generate income.
In addition, an acquisition provides PPCK access to important local knowledge and experience. The acquired firm is probably more knowledgeable about the neighbourhood market and its clients, which will assist PPCK in developing goods and services that are tailored to the requirements of the neighbourhood(Ingram, et al., 2018).
Acquisition will provide PPCK a foundation for further expansion in Côte d'Ivoire. PPCK can increase its market share and investigate new potential in the Ivorian market by purchasing an established business and using its current customer base and distribution network(Ajayi O. A., et al., 2009).
To make sure they are a suitable match with the company's strategic aims and culture, PPCK must thoroughly assess any possible acquisition candidates. It's crucial to have a clear strategy for integrating the acquired firm into the PPCK organisation since cultural differences and integration difficulties may pose serious obstacles to an acquisition's success(Ingram, et al., 2018).
Marketing Plan:
STP Strategy
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Positioning
PPCK will use position the products in Côte d’Ivoire with high perceived value. Pyrethrum will be prepared with high quality and organic way. Differentiation startegy will be used by PPCK. The customers will realise the difference when they will use Pyrethrum of PPCK. Cocoa producers, farmers and retailers all will get organic pesticides(Schlegelmilch, 2022). PPCK will set high price for the products also. PPCK will use value-based pricing in which the value set based on how much customers want to pay for the products. Here, the Position Map of PPCK for Côte d’Ivoire market has been presented below:
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Figure: Positioning Map of PPCK
4Ps of Marketing
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Objective 5: To evaluate the cost of the project, project risk and develop the risk mitigation plan
Project Costs
In this part, the costs of the project have been estimated. The expected start-up cost is £720000. Following is the budget for the project:
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Expected Sales from the Project
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Expected Income form the Project:
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Project Risks Assessment and Mitigation Plan:
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Analysis from the Literature Review
Pesticides market is growing and the demand of organic pesticides are also on demand. With an average GDP growth rate of 7% during the last ten years, Côte d'Ivoire has one of the fastest-growing economies in all of Africa. This offers PPCK a fantastic chance to take advantage of a developing market. Côte d'Ivoire is the largest Cocoa producer of the world so PPCK can sell the Pyrethrum to the cocoa producer.
The Ivorian government has put in place a number of measures to entice international investment, including tax breaks, faster company registration processes, and the encouragement of public-private partnerships(Dinu, 2018). Geographically speaking, Côte d'Ivoire is strategically positioned to act as a crossing point to other West African nations. This may provide PPCK access to a larger market in the area. Natural resources such as cocoa, coffee, and oil are abundant in Côte d'Ivoire. By procuring raw materials locally, cutting prices, and enhancing supply chain effectiveness, PPCK might profit from these resources.
On the other hand, Political unrest and warfare in Côte d'Ivoire have a history, which may have an impact on the economic climate. Political occurrences like demonstrations or coups have the possibility of interfering with PPCK's business activities.
In Côte d'Ivoire, corruption is a serious problem that may make conducting business more difficult and expensive for businesses. PPCK will need to exercise caution in order to adhere to regional laws and uphold moral standards(Ingram, et al., 2018).
Infrastructure of Côte d'Ivoire is undeveloped, notably in the areas of transportation and electricity. Companies may face difficulties as a result of this, such as increased transportation expenses and unstable electrical supplies(Ingram, et al., 2018).
The distinguishing culture of Côte d'Ivoire might be difficult for international businesses to understand. In order to promote its goods successfully, PPCK will need to spend time and money learning about regional traditions and preferences.
In conclusion, for PPCK, joining the Côte d'Ivoire market offers both chances and difficulties. While the country's expanding economy, favourable business climate, advantageous location, and abundant natural resources provide potential advantages, political unrest, corruption, a lacklustre infrastructure, and cultural differences present dangers and barriers to the company's success(Ingram, et al., 2018). Before deciding whether to join the Ivorian market, PPCK must carefully consider these considerations.
Chapter Five
Recommendations and Conclusion of the Project
Recommendations
Pyrethrum Processing Company of Kenya has the chance to supply pyrethrum to cocoa growers in the Côte d'Ivoire. However, in order to succeed, PPCK must conduct in-depth market research, build a trustworthy distribution network, adopt a competitive pricing strategy, a promotional strategy, adhere to legal and regulatory requirements, guarantee quality control, place a premium on customer service, be sensitive to cultural differences, and use sustainable business practises(Ingram, et al., 2018). PPCK may effectively join the Ivory Coast market and grow its company by heeding these tips.
Market Research: To better understand the need for pyrethrum in Ivory Coast, PPCK should carry out a comprehensive market study before entering the market. The target audience, their requirements, and preferences should all be identified in the study. Additionally, PPCK has to evaluate the market's rivals' pricing plans.
Distribution Network: In Ivory Coast, PPCK needs to set up a trustworthy distribution network. This may be accomplished either by establishing one's own distribution channels or by forming agreements with regional distributors and merchants(Sadia-Kacou, et al., 2017). For the pyrethrum to reach the cocoa farmers on time, the distribution system must be effective.
Pricing Strategy: Based on the market analysis, PPCK should establish a competitive pricing approach. While remaining profitable for the business, the price should be appealing to cocoa growers(Ingram, et al., 2018). Discounts for large purchases or lengthy contracts should also be taken into consideration by PPCK.
Promotional Strategy: PPCK should take into account a multi-channel promotional plan that includes collaborations with regional distributors, trade events, and internet marketing. Additionally, PPCK should concentrate on informing prospective clients about the advantages of pyrethrum and how it might improve their cocoa output(Ingram, et al., 2018).
Regulatory Compliance: PPCK must make sure that it complies with all Ivory Coast-specific regulations. Obtaining the essential licences, permissions, and certificates falls under this category. Additionally, PPCK has to make sure that its goods match the authorities' quality requirements.
Quality Control: To make sure that its goods satisfy the necessary quality standards, PPCK needs set up a quality control system. The whole manufacturing process, from the procurement of raw materials to the finished product, should be covered by the quality control system(Ingram, et al., 2018).
Customer Service: Customer service should be PPCK's first priority in order to satisfy cocoa farmers with its goods and services. Customers should be able to contact PPCK with questions or concerns, and the company should work to satisfy their requirements.
Cultural Awareness: PPCK should be attentive to and informed of Ivory Coast cultures and traditions. This entails being aware of the regional languages, customs, and commercial practises(Grinnell, et al., 2009). Additionally, PPCK has to be aware of any possible cultural obstacles and work to get through them.
Sustainability: To reduce its negative effects on the environment and the local population, PPCK should use sustainable practises in its daily operations. This entails choosing ethically sourced raw materials, reducing waste, and assisting regional people through CSR programmes.
Conclusion
PPCK will enter into Côte d'Ivoire and offer organic pyrethrum to the farmers. PPCK is going to change the pesticides industry in Côte d'Ivoire and help the cocoa producers to provide organic cocoa. PPCK will face challenges like high inflation rate, political instability, competition with cheaper pesticides etc. But PPCK can also take advantage of the growing organic cocoa industry(Ingram, et al., 2018). PPCK can attract more customers in Côte d’Ivoire through promotion. PPCK will differentiation strategy and value based pricing to expand the business. PPCK will promote the pyrethrum by advertisement and digital marketing. The start-up cost is estimated as £720000. PPCK will acquire a local pesticides company and farmland for producing the pyrethrum. There will be risk like costs overflow shortage of time, performance risks etc. But pyrethrum has already develop the mitigation plan.
Contribution to Research
By introducing pyrethrum into the Cocoa sector of Cote d'Ivore, the current research has made a contribution to the fields of marketing as well as supply chain / value chaim. There aren't many studies on the subject that describe how to enter the market in various industries. With the use of natural insecticides, current research also will help to lessen environmental harm. The study also benefits the Cote d'Ivore pyrethrum and cocoa industries. In the context of contribution of the research, to be specific, the following areas are significant.
· Find out the specific and appropriate market entry strategy for that product with significant adequate information.
· PESTLE analysis with significant adequate information.
· Market competitiveness analysis with Porter’s Five Forces Model with adequate secondary data analysis
· Identified proper marketing strategies (STP)
· Industry analysis
· Business value Chain Model analysis (supply chain)
Future Research Directions
For the purpose of understanding the continuous nature of the Cote d'Ivore industry, future research can be done by performing market analyses. Future research should focus on pyrethrum efficacy studies in detail to help the cocoa sector find more efficient ways to get rid of pests like cocoa mired bugs and cocoa pod borers. The economic viability can also be taken into account while estimating crop losses and increasing cocoa yield. In the future, research could segment the market and the client.
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Appendices
A. Gantt Chart
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B. Critical Path
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Figure: Critical Path
C. Budget
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Biography of Author:
Md. Zainal Abedin is a researcher, academic, and emerging scholar whose work focuses on digital transformation, innovation, business studies, higher education, media studies, and responsible applications of generative artificial intelligence (AI). Currently affiliated withUniversity of Ottawa, Canada, he completed his Master of Digital Transformation and Innovation (DTI) at the university and has earned the opportunity to continue his academic journey as a PhD student in the same program. His interdisciplinary academic background and research expertise have enabled him to contribute significantly to the growing body of knowledge surrounding technology-driven transformation in education, business, media, and society.
Abedin earned an MBA fromUniversity of South Walesin 2023. He also completed both his Bachelor of Business Administration (BBA) and Master of Business Administration (MBA) in Management Information Systems (MIS) fromUniversity of Dhaka, one of the leading public universities in Bangladesh. Expanding his interdisciplinary academic profile further, he completed an MSS in Television and Film Studies fromUniversity of Dhakaand another MSS in Industrial Relations and Labour Welfare fromJagannath University. This diverse educational background has provided him with expertise spanning business, technology, media, labour studies, communication, and digital innovation.
Throughout his academic career, Abedin has demonstrated a strong commitment to higher education, research, and academic leadership. He previously served as an Assistant Professor atZ.H Sikder University of Science and Technology andWorld University of Bangladesh. In these roles, he actively contributed to teaching, curriculum development, student mentoring, and institutional research initiatives. His experience in higher education strengthened his interest in examining how digital technologies, innovative pedagogical practices, and AI-driven systems can reshape learning environments and institutional governance.
As an active and productive researcher, Abedin has published more than 30 research articles in national and international journals and conference proceedings. His publications focus on digital innovation, generative AI, higher education transformation, business strategy, sustainability, media and communication studies, labour and organizational issues, and broader social science research. He is particularly interested in exploring how emerging technologies can be integrated responsibly into educational and organizational contexts while addressing ethical, societal, and governance challenges.
In addition to his research articles, Abedin is also the author of five books that explore themes related to education, leadership, research methodology, innovation, digital transformation, and social development. His scholarly contributions aim to bridge theoretical perspectives with practical implications, particularly within developing-country contexts and emerging digital economies. His current research interests include responsible generative AI in higher education, digital transformation and governance, innovation management, technology-enhanced learning environments, pedagogical transformation, digital media studies, and the social implications of AI-driven systems.
With a growing international academic profile, Md. Zainal Abedin continues to contribute to interdisciplinary research and knowledge development through teaching, publishing, and collaborative scholarly engagement.
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- Md Zainal Abedin (Author), 2024, Innovation-led Market Penetration. Strategic Entry Frameworks for Côte d’Ivoire, Munich, GRIN Verlag, https://www.grin.com/document/1731403
