KKB Sauce: Feasible Business Plan for Establishing a New Sauce Company - Iloka Benneth Chiemelie, Kueh Yi Kia, Njoku Stanley, Teng King Wee

0.1 EXECUTIVE SUMMARY

In modern day economy, entrepreneurship has been viewed by many as the new survival tool to all businesses wishing to bypass the rough economic times. Nevertheless, survival of many entrepreneurial business has never been measured as it differs from one place and point in time to another.

This is a business plan for establishing a new company in Malaysia. The company named KKB (where KKB Sauce is a combination of the founders names: Kueh, King, Benneth and Stanley) is a sauce manufacturing company that produces four main verities of sauce and located in Kuching, Sarawak. This business plan was designed following the set standards as provided by the lecturer.

The first section of this business plan analyses the company background, stating the company objectives, founders and the projected startup cost. This section also discusses the company share ownership and management team design for running the company.

Following next, is the product description. The logo design, company slogan and product analysis are the most featured points in this section. The four sauce brands under KKB Sauce were discussed, and the compositions analyzed based on set standards by both American and Malaysian consumer product departments.

After describing the product offerings, the environmental analysis was taken into consideration. In this section, PESTLE module was used to analyze the Malaysian environment based on the political, economic, socio-cultural, technological, legal and environmental factors; pointing out the impacts of each factor on the company.

The objectives and missions of KKB Sauce Sdn Bhd were also discussed in this business plan after the environmental analysis, together with the target market. As a new company, identifying favorable target market is essential for the overall performance and survival of the company, and this was taken into full consideration.

The marketing strategy and market mix are also some of the points discussed in this business plan. The 4Ps were taking into account, analyzing each P in relation to KKB Sauce. The marketing and communication strategy was also drafted to illustrate how the product will be distributed within the target market in other to reach the set company objectives.

Haven analyzed all the business criteria in setting up a new company; the next step taken into account in this business plan is setting up the management teams. This section highlights power differences, salaries, responsibilities and number of workers needed to fully run the company.

Before the financial projection, a separate page was drafted to illustrate the sources of funds for starting up and operating the company. The financial projection describes how these funds will be used to finance the business operations, the expected sales and breakeven analysis for the new company.

The concluding section of this business plans is the implementation and control. The implementation describes how each task will be undertaken, stating individuals and departments responsible for each task, expected start and completion dates, and expected results from each task. The control discusses how the business activities will be evaluated to ensure that the company is moving towards the set standards and objectives.

The final section of this project paper is the reference and appendix. The bibliography accords credits to whom they are due, by referencing each citations used in the project paper, while the appendix gives illustrates all the expected machineries needed to run the business, contact information of where all these machineries will be ordered from and prices of each machinery. The appendix also contacts sample adverts developed for marketing KKB Sauce.

1.0 COMPANY BACKGROUND ANALYSIS

KKB manufacturing company is a sauce producing industry headquartered in Kuching Sarawak, Malaysia. Founded on 1^st of September 2011, the company aims to become one of the biggest players in Malaysian sauce industry. The company produces four different types of sauce which include: Tomato sauce, Chili sauce, Mixed spicy sauce and Sembal sauce. The management team is a diamond structure composed of financial department, marketing department, human resource department and business management department.

KKB is a partnership business owned by two Chinese-Malaysians (Mr. Kueh Yi Kia and Mr. Teng Wee King), and two Nigerians (Mr. Stanley Njoku and Mr. Iloka Benneth). The company shares are divided based on each shareholder’s contribution for funding the establishment of KKB sauce industry. Mr. Kueh Yi Kia owns 40% of the company shares, while 30% is owned by Mr. Teng Wee King, while Mr. Stanley Njoku and Mr. Iloka Benneth own 15% of the company shares respectively.

Being the highest shareholder, Mr. Kueh Yi Kia, is the CEO and head of the business administration department with the responsibility of ensuring that the company is heading towards its set objectives and goals. The Human resource department is headed by Mr. Stanley Njoku, with the responsibility of overseeing staff recruitment, training and development. Mr. Teng Wee King is the financial department manager, and oversees general expenditures of the company to ensure that all budgets are controlled and spent accordingly. Finally, the marketing department is headed by Mr. Iloka Benneth and has the responsibility to ensure that the products are well positioned in the market and the company maintains close stakeholders relationship that creates value for the brand.

Table 1: Projected startup cost

Operation costs	RM 167,610.00
Human resource management costs	RM 128,400.00
Marketing costs	RM 56,500.00
Total cost	RM 352,510.00

2.0 KKB SAUCE PRODUCTS DESCRIPTION

2.1 LOGO DESIGN

Figure 1: KKB Sauce Logo

2.2 LOGO DESCRIPTION

The logo is designed in a simple form to aid customer assimilation of the brand, and illustrate the main benefits of KKB sauce which are “healthy” and “tasty”.

2.3 SLOGAN

“KKB the taste of complete goodness” – this slogan is designed to present a clear message to the market that if they want to bring out the best taste out of their dishes, they need to choose KKB as their sauce brand.

3.0 PRODUCT OFFERING

As highlighted earlier, KKB produces four different sauce brands which include:

• Tomato sauce
• Chilli (pepper) sauce
• Mixed spicy sauce
• Sembal sauce. See Appendix (1) for machineries required for production

The four products offered are described based on the following determinant factors following United States of America standards for Tomatoes and Chili pepper sauce (US Department of Agriculture, 1994), and Malaysian Ministry of Agriculture standards for tree based produces (Global Agriculture Information, 2011).

Table 2: KKB Sauce’s products descriptions

PRODUCTS	FACTORS	GRADE
Tomato sauce	Color - Red (5R 2.6/13) (glossy finish). Consistency– Not excessively stuff with 4.3 cm flow in 35 seconds at 20 degrees Celsius in Bostwick Consistometer. Defects – pure blend, reasonably free of defects with pieces of peel or dark brown specks not exceeding 3.2 mm. Flavor and odor – good and pure tomato odor with added mints flavor. Benefits – To be generally consumed across Malaysia as a food sweetener and used in preparation of different dishes both as primary and supplementary ingredient.	A grade 70 – 90 % score.
Chili pepper sauce	Color - Red (5R 2.6/13) (glossy finish)and Yellow (2.5YR 5/12) (glossy finish) Consistency– Not excessively stuff with 5.3 cm flow in 20 seconds at 22 degrees Celsius in Bostwick Consistometer. Defects – pure blend, reasonably free of defects with pieces of peel or dark brown specks not exceeding 3.8 . Flavor and odor – good and pure chili odor with added burning organic additives for flavor. Benefits – customers who purchase this product will have the benefits associated with spice consumption which include food sweetening and health benefits.	A grade 70 – 90 % score.
Mixed spicy sauce	Color - Black (N1) (glossy finish) Consistency– 7.3 cm flow in 15 seconds at 25 degrees Celsius in Bostwick Consistometer. Defects – pure blend, reasonably free of defects with pieces dark brown specks not exceeding 3.0 mm. Flavor and odor – good and pure tomato odor with added crab and herbs flavor. Benefits – just like the chili, this is a food sweetener and ingredient for all kinds of dishes.	A grade 80 – 85 % score.
Sembal  sauce	Color - Gray (N4) Red (5R 2.6/13) (mat finish) Consistency– Not excessively stuff with 4.3 cm flow in 35 seconds at 20 degrees Celsius in Bostwick Consistometer. Defects – pure blend, reasonably free of defects with pieces of peel or dark brown specks not exceeding 3.2 mm. Flavor and odor – good and pure tomato odor. Benefits – sambal sauce is mainly consumed ad supplementary food sweetener with the main dishes (e.g. stay chicken). Benefits:Used in consumption of vegetable fruits such as Cucumber, Peas, Plantain etc., and as food sweetener.	A grade 75 – 90 % score.

4.0 ENVIRONMENTAL ANALYSIS

In order to understand the impacts of environmental factors on the company, an environmental analysis of Malaysia will be conducted using the PESTLE model.

4.1 POLITICAL FACTORS

Malaysia is a federal state with 13 states and one federal territory (Wilayah persekutuan) with three components, Kuala Lumpur city, Labuan, and Putrajaya. The chief of state is the King who is chosen among 9 sultans at the Sultan’s conference based on the principle of rotation. The King’s tenure is 5years and his position is ceremonial. The head of government is the Prime Minster who much is a member of the lower house.

The Malaysian system of government is closely modeled after the Westminster parliamentary system, which is a direct influence of British colonization that ended in 1957. The government operates a bicameral system with a nonelected upper house and an elected lower house. In the lower house ever since Malaysia’s independence in 1957, the UMNO (United Malays National Organization) has been part of the ruling coalition (now called, Barisan Nasional (BN) which has been in power for over 30 years) (Michelle, 2009).

Malay favoritism has been the case over the years as the government granted itself to abolish human rights (Sensitive Matters Amendment in 1971), which makes criticism of the Malay Monarchy, the special position of Malays in the country, or the status of Malay as the national language illegal. A clear example is the arrest and imprisonment of Deputy Prime Minister Irahim Anwar in 1997, for violating peace preservation law by criticizing the Mahathir’s policies. This marked the stake of Malay Authoritarianism in the Malaysian government (Michelle, 2009).

However, Prime Minister Badawi Abdullah who succeeded Mahathir’s regime in 2003 was quick to find solutions to the high corruption by establishing a corruption unit to probe and arrest all top officials who have been involved in bribery and other sorts of corruption. Prime Minister Razak Najib followed the same root when he was elected in April 2009, by removing the ban on opposition newspapers (Suara Keadilan and Herakdaily). Nevertheless, Malaysian government can be concluded to be a pseudo-democracy with a Malay-dominant political regime backed by constitution, enduring suppression of civil rights for government criticism, and de-facto one-party system (Michelle, 2009).

Although it can be fair to say that Malaysia is slowly moving towards democratic system with the policies implemented by Mr Adullah and Mr Razak, it must be understood that on a business phase this pose a threat to KKB Sauce’s success in Malaysia. Business strategies designed to generate profits for KKB Sauce, by competing against oligopolistic Malaysian companies could be waved out by the government and any criticism will be deemed illegal. The government also allows indefinite detention without trial and for KBB Sauce employees; this could be used against them if the company interferes with the government system in any form. Thus, it must be stated that the political atmosphere is a big challenge and should be critically followed and reviewed from points in time (Brown, 1994).

4.2 ECONOMIC FACTORS

Following the Asian Tigers footstep and coupled with Japan’s economic assistance, Malaysia transformed itself from an exporter of raw materials such as palm oil, natural rubber, and tin into an industrialized country. The country continuously recorded annual economic growth of above 8 percent between 1980s and the Asian economic crisis in 1997. As of 2008, its GDP was expected to be 385.2 billion USD which is the 31^st largest in the world (Michelle, 2009).

The level of GDP per capita of Malaysia is estimated to be US$ 8,118 per year by IMF (2008), US$ 7,221 per year by the World Bank (2008), and US$ 8,800 per year by CIA Factbook (2008). It has been argued that democracy is expected to survive if the level of GDP per capita is over US$ 6,000 per year. Based on the estimated, Malaysia is well above the threshold level for survival of democracy and it can be said that the country has the potential to increase its democracy from its current pseudo-democracy (Michelle, 2009).

The above economic atmosphere provides a good room for investment as the high purchasing power the general Malaysian populace have with their GDP per capita is destined to yield high sales and profit with the implementation of a proper business strategy. This GDP also offers possible change to the government system into full democracy; which could provide a much better business atmosphere in the near future. Thus, it can be concluded that the economic environment offers great room for profitable investment.

4.3 SOCIO-CULTURAL FACTORS

Malaysia claimed independence from British colony in 1957 as a multi-racial Federation. The population then included large numbers of the second non-indigenous people, mainly from Southern part of China and India, who were brought to the region as manpower for labor at British owned plantations, mines, mills, and docks. The main languages in Malaysia are English and Malay. The country is dominated by Islam which is compulsory for all Malays, Buddhism, Hinduism and Christianity. The government continues to mark its mark on human right by obligating all Malays by law to be Muslims and practice Islamic religion (Michelle, 2009).

Being Malay, Chinese and Indian dominated nation, Malaysia’s culture can be classified into fatalism, Confucianism and Hindustan believes. The Malays prior the act of saving their face by not doing things that will bring embarrassment to their family, and the Chinese also practices this cultural belief in a Confucian style by believing in business success through long-lasting relationship and treating each other as one. There are also traces of this believe in the Indian Hindustan believe that what goes around comes around (what you to do other will be done to you), which is commonly referred to as karma (Michelle, 2009). These values are further analysed below.

4.3.1 Face saving – am important element of Malaysian culture like other Asian cultures is face. Losing face which is viewed as losing control of one’s emotion or public embarrassment is perceived as a negative display of behavior. Malaysian use different ways to save their face such as smiling, or shying away from an event. Saving a business partner’s face is vital for maintaining business relationship (Communicaid, 2009).

4.3.2 High context culture – in relation to the Malaysian cultural value of courtesy, tolerance, harmony and face, maintaining close relationship is more valuable than providing facts in business contexts. This implies that other forms of communication are considered valuable rather than just word (Communicaid, 2009). Such includes voice tone, body language, signs etc. direct answers especially negative answers are high avoided in other to prevent disagreements and preserve harmony between partners.

4.3.3 Fatalism – since Malaysian cultures are centered on the diverse religious values of Islam, Buddhism and Hinduism, it relies heavily on fatalism.  Fatalism is the believe that God’s will yields all happenings such as success, failures, opportunities etc. in the business context (Communicaid, 2009), Malaysian partners tend to rely more on the ruling of God rather than empirical evidence and this can pro-long decision making process.

This cultural environment is favourable for investment in Malaysia as it present an atmosphere where businesses value understanding, dedication and commitment by believing that the best way is to find a means that favours everybody as they seek to protect their faces (Malays), maintain long-lasting relationship (Chinese), and avoid nemesis that arises from doing wrong to other (Indians). Nevertheless, the Malaysian culture that values protecting personal image (fatalism) could be argued to have negative influence on business, as the populace could possibly undertake negative actions against businesses just to ensure that their image is not dented in the public  (Dalat, 2009).

4.4 TECHNOLOGICAL FACTORS

Malaysia is an emerging Asian economy with aspirations of moving towards a technological and high-tech production pattern of development. Malaysia has been categorized as one of the countries with the potentials of creating new technologies on their own (Mani, 2000). This development has caught the attention of both developing and developed countries over the decade (Hobday, 1995).

Mainly all companies in Malaysia have certain levels of automated production and this is due to the high availability of technology in the country. This is important for KKB Sauce, as the business objectives involves reduced cost of production which can be achieved by automating the production system to reduce cost associated with staff’s salary and other production overhead.

4.5 LEGAL FACTORS

Malaysia maintains a reliable legal system and all activities are regulated under the Islamic law for Malays and state law for Non-Malays. For instances, all companies intending to do business in Malaysia are required to register within the Companies Commission of Malaysia which is responsible for the administration of the company act and keeping files open for public inspection (Mida, 2011).

They are also reserved laws that protect business properties and acts such as copyright, patent right and trade mark laws. The Malaysian legal system is general described as solid and reliable for businesses. This will influence KKB Sauce positively as the company would look to keep protect its properties and trademarks, in order to enhance their competitiveness in the market.

4.6 ENVIRONMENTAL FACTORS

The environmental factors in this case include all other stakeholders not discussed above and the eco-system of a country. Malaysia is a very competitive economy and they are already established and successful industries in the country, thus competition will always be stiff and high. The country does not face any serious environmental hazard currently, but the country has been struck with series of flooding and low magnitude earthquakes.

These issues discussed above can influence success or failure of the business to a great extent and must be seriously visualized to understand the best way to tackle issues of this nature. The projected location for the production plant is strategically situated within the safest regions of Kuching in Sarawak Malaysia; to prevent any event of haul on product due to flooding, earth quake or other natural disasters.

5.0 HUMAN RESOURCE PLANNING

Organisation decision makers are rapidly being challenged with the task of saving expenses and resources. It has also been indicated that the future will present less money for personal selection and development (Quin˜ones and Ehrenstein, 1997), mainly due to economic downturn; thus, human resource departments are expected to work strategically (Cascio, 2000).

Malaysian HR practices, systems and regulations are high influenced by the British colonization. It has been viewed that the country’s HR practices are legacies derived from an integration of indigenous and western practices (Chew, 2005). Chew and Basu (2005) classified this HR practices into British-oriented values and ethical-oriented values.

Current trend in Malaysian HR is performance-based rewarded system where executive are paid based on their productivity level as found by MEF research on 233 companies in Malaysia (Malaysian Employment Federation, 2007). As for training, most Malaysian firms perceive that it is expensive to train employees beyond basic skills needed for them to undertake their contractual work scope (Rowley and Rahman, 2007).

This led to government intervention by promoting training and development in the workforce, and establishment of industrial training institutes that provide skills training program at basic, intermediate, and advanced level for job entry level (Malaysian Industries Development Authority, 2009). Only 15 percent of Malaysian workers are unionized (Gross and Minot, 2007), only 5 strikes occurred between 2005 and 2007, indicating that relations between labor and management are harmonious.

The human resource atmosphere with no doubt is a favourable scene for any organisation willing to invest in the country. Malaysia adopts an advanced system of tertiary education integrated into British formula that ensure graduate are equipped with employability skills, and the government investment in training and development father ensure that theses graduates will offer companies advanced and profitable workforce through mufti-tasking and multi-skills integration. Therefore, it can be concluded that the Malaysian market will provide KKB Sauce with an efficient and effective workforce, and the company can utilize this benefit to yield profits.

6.0 BUSINESS OBJECTIVES

The following business objectives have been drafted to power-drive KKB Sauce into the top industry chart by 2016. KKB Sauce’s objectives are as follows:

• To reach at least 2 percent profit margin by the 2 years from launch date.
• To create 20 percent brand awareness within the target market in 12 months.
• To strategically position KKB Sauce as one of the trusted brand in Malaysia by 5 years in other to generate 10% customer loyalty towards the brand.
• To gain 10 percent of the total sauce industry market shares in Malaysia by the first 5 years of operation.

6.1 MISSION STATEMENT

“To exceed customer’s expectation by offering freshly blended sauces, which are affordable, delicious and healthy”.

6.2 VISION STATEMENT

• To be the Malaysian leader in customer value.
• To be the most trusted and preferred sauce brand in Malaysia.
• To successfully expand our products in neighboring countries and the world at large.

6.3 VALUE STATEMENT

As a food manufacturing company, our values include integrity, openness, commitment, constructive self-criticism and dedication to the stakeholders. We are committed towards providing our customers with the purest blend of sauce; made from natural sources that are tasty and delicious, and does no harm to the environments.

7.0 TARGET MARKET

Target marketing is a vital stage in decision making for all organizations undertaking marketing and strategic planning (McDonals, 1995; Piercy, 1992). It is the part of marketing segmentation process that groups consumers with similar needs and buying behavior together (Dibb et al., 1996). KKB Sauce’s target markets are group into 3 categories as illustrated in the table below.

Table 3: KKB Sauce’s target markets descriptions

CONSUMER GROUP AND BEHAVIOUR	PROMOTIONAL  STRATEGY	CHARACTERISTIC AND DESCRIPTION
Household Consumer - includes all households in the Malaysian market. Behavior:Members of this group behave in both psychoanalytical and cognitive way.	Push strategy – this form of promotional strategy will involve heavy advertising to entice customers and persuade them to make purchases.	This group of consumers can make their purchases directly from any outlets that offer their needed products. Their decision making process is highly influenced by previous brand used and price of brands in the market.
Restaurants and Eateries – includes all food outlets and fast-food cuts across Malaysia. Behavior:Members of this group behave in a cognitive way; they make their decision based on acquired information about product.	Pull strategy – Marketing and sales personnel will be used for marketing the KKB Sauce to this group. The aim is to convince them to purchase based on the brand benefits.	This group of customers makes purchase decisions based on the quality and price of product. The marketing department will head the team of marketers and sales personnel that have the responsibility of convincing them to choose KKB Sauce and build customer relationship with this group.
Supermarkets and shopping outlets – includes all shops that sale FCMGs across Malaysia. Behavior:Members of this group behave in a cognitive way; they make their decision based on acquired information about product.	Pull strategy – Marketing and sales personnel will be used for marketing KKB Sauce to this group.	Purchase decision in this group is highly influenced by sales volume and profit generated from selling the products. A group of marketers will be deployed to market KKB Sauce directly to this group and determine the best merchandizing plan for our new product in their outlets.

Consumer demographic profile generally involves dividing the market into groups based on variables such as age, gender, family size, income, occupation, education, religion, race and nationality. KKB Sauce consumer demographic profile is as described below.

Table 4: KKB Sauce’s consumer demographics

LEVELS OF VARIABLE	OBJECTIVES	SUBJECTIVE
General (behavioural patterns: person characteristics	Income Age Education Behavioural patterns	General values Lifestyles Personality
Domain-specific (product-class usage)	Situation Frequency of use Substitution behaviour	Opinions Perception Attitude Domain-specific values
Brand-specific (brand-usage)	Brand loyalty (behavior) Frequency of use Actions	Brand loyalty (attitude) Preference Evaluation Purchase intention

Source as Adopted from:  consumer demographic profile by Evans, F.B (1995)

From the figure () above, describes the various forms by which consumers are classified based on demographic variables. In this communication mix, we classify our customers based on their age. Our consumers from the three target markets described above will be above 13 years old. This is because these groups have the right knowledge to make decision for purchasing cooking ingredients like sauce.

 8.0 MARKETING STRATEGY AND MARKETING MIX

Figure 3: KKB Sauce’s marketing mix

8.1 PRODUCT

8.1.1 Product features – The main product feature of KKB Sauce is the packaging. The Sauces are well packaged in recyclable containers. The containers as illustrated in figure (4) below allows the customers to use covers of the container as substitute to sauce bowl. Some of the products are packaged in a pipe-flow format to ease flow of the sauce, and ensure that customers have full control on the sauce flow.

Table 4: KKB Sauce sample containers (containers adapted from: Google images)

8.1.2 Product benefits – KKB Sauce offers customers numerous benefits based on customer’s tastes. All KKB sauces are preserved with organic preservatives, thus, this ensures that they retain their freshness and purity. KKB Sauces are guaranteed to offer full satisfaction to the customers, because they are blended with the best of herbs to yield quality tastes. Basically, the products provide customers the benefits highlighted in the slogan; it provides customers the feel of “ataste of complete goodness”.

8.1.3 Product positioning – As illustrated in the figure below, KKB products will be positioned in the market as an affordable and highly fresh product. Their values to the market are not based on taste only, but also the packaging that ensure sustainable environment for the future generation due its high recyclability.

Figure 5: KKB Sauce positioning

 

8.2 PRICE

8.2.1 Price strategy – KKB Sauce will adopt price skimming strategy to ensure high sales, profit and price leadership in the Malaysian market. As illustrated in the product positioning above, the prices for the products will be slightly placed lower than the market leaders.

8.3 PROMOTIONAL MIX

8.3.1 Personal marketing and selling – marketers will be deployed to various potential wholesalers and distributors to communicate the importance of the product in the market and persuade them to make purchases. This will be handled by the marketing department, and the marketing department also has the responsibility of building close customer relationship with all distributors.

8.3.2 Sales promotion – in order to increase the sales volume and reach set objectives, the products will be sold at the cost of 10 % less than the original price for the first three months from launch date, and the price will be gradually increased until it reaches the original price. Nevertheless, the original price must be attained within the beginning of the fourth month.

8.3.3 Public relation - fan pages will be developed on our main Website, FaceBook, Tweeter and Blogger to educate our customers more on the product, get feedbacks and identify the extra features customer would like to have in the products. This medium will also be used to study our competitors by asking competitive questions and analyzing comments on such questions.

8.3.4 Advertising and Merchandizing – KKB Sauce will be placed at strategic points, such as first front columns and rows in the shopping outlets and other distributions counters. The products will also be placed alone and merchandized with KKB Adverts to appeal and persuade customers. Adverts will be aired on newspapers and radios to create awareness and persuade customers to make purchases. Seeappendix (2) for sample adverts.

8.4 PLACE

8.4.1 Site and location – The Company will be situated in Kuching Sarawak, at pending heights outlets. This is because it is an industrial area and outlets are more affordable at this location compared to the city areas. This is also a strategic point for transporting finished products to the Kuching Sea Deport where they will be transported to West Malaysia. See appendix (3) for proposed distribution truck.

8.4.2 Distribution channel - KKB Sauce will adopt agent, dealer and freelance distribution channel to ensure that the products are well distributed within the target market segments.

8.4.3 Distribution strategy – the diagram below illustrates the distribution strategy adapted by KKB Sauce. The products will be pushed to the final consumers through the intermediaries, while the pull strategy will be used to shift the products to distributors e.g., shopping outlets, restaurants and supermarkets.

Figure 6: KKB Sauce’s distribution strategy

9.0 MANAGEMENT TEAM

Figure 7: KKB Sauce’s management team

The management team is headed by the CEO Mr. Kueh Yi Kia. He was appointed the CEO because he owns the biggest of KKB Sauce’s shares.

9.1 RESPONSIBILITIES AND POWER DIFFERENCES

9.1.1 CEO – KUEH YI KIA IS RESPONSIBLE FOR:

1. Co-coordinating day to day running of the business to ensure that, the company is moving towards its objectives.
2. Finalize all business dealing through stamp or personal signature to ensure that only deals profitable to the company are awarded.
3. Building a company culture both for the present and future, implement these culture within the company.
4. Has the responsibility to arrange and involve in public relationship activities such as seminars and interviewers, to better influence stakeholder’s to trust the brand as the best in Malaysia.

9.1.2 Management Power – all departments must file procedures for and under the CEO. The CEO must be consulted before finalizing any company related action in any of the departments. The CEO has absolute but limited power to run the company as his own.

9.1.3 Salary – RM 1,000.00 per month.

9.2 HUMAN RESOURCES MANAGER – STANLEY NJOKU IS RESPONSIBLE FOR:

1. Hiring and training of employees.
2. Ensuring staffs’ safety and providing comfortable working environment for all the staffs.
3. Negotiating contract deals between the company and any new or existing staffs in a way that favors both parties (mutualistic symbiosis).
4. Protecting company trade secrets to ensure that no single staff knows all the trade secrets as this could be vital for future competition.

9.2.1 Management power – Has full control and authority over all staffs within the human resource department, equal power with other department managers but lesser power than the CEO.

9.2.2 Salary – RM 1,000.00 per month

9.3 MARKETING DEPARTMENT – ILOKA BENNETH IS RESPONSIBLE FOR:

1. Developing and implementing marketing strategies to promote KKB Sauce.
2. Providing quality services to the customers and distribution channel, by offering solutions to their enquiries and feedbacks.
3. Building close customer and company relationship with existing customers to enhance their brand loyalty.
4. Developing competitive strategies to ensure that KKB Sauce remains competitive in the market.

9.3.1 Management power – has the responsibility of overseeing performance of the marketing department and has full control of the department. He maintains the same level of management power with other department managers, and has less power than the CEO thus, must seek his consultation before finalizing any marketing decision.

9.3.2 Salary – RM 1,000.00 per month

9.4 FINANCIAL DEPARTMENT – TENG WEE KING IS RESPONSIBLE FOR:

1. Ensure that the company maintains sustainable profit balance, at the end of each business quarter.
2. Overseas the overall financial performance of the company to ensure that it’s moving towards the right directions financially.
3. Has the responsibility to manage all credit loans and update the CEOs on serious financials issues and projections on quarterly bases.
4. Ensure a profitable return on investments, through adapting profitable price packages, based on a total combination of the production cost, overhead cost and company profit margin.

9.4.1 Management power - has the responsibility of overseeing performance of the financial department and has full control of the department. He maintains the same level of management power with other department managers, but is under full control of the CEO and must seek his consultation before finalizing any financial decision.

9.4.2 Salary – RM 1,000.00 per month

10.0 NUMBER OF EMPLOYEES REQUIRED AT START-UP

Figure 5: Employee’s required and Projected Salary per Month

EMPLOYEE’S REQUIRED	AMOUNT AND SKILLS REQUIRED	PROJECTED SALARY PER MONTH - RM
Truck Driver	1 truck driver with at least 3years driving experience, valid driving license and very familiar with Kuching city road maps/ways.	1,000.00
Delivery Men	1 delivers man to assist the truck driver with the loading and delivery of the finished products to KKB Agents and distributors. He must be physically fit and healthy.	900.00
Machine Operators	1 Experienced operator to handle the automated production machineries.	1, 300.00
Sales Personnel	2 Sales representatives to assist in marketing and product communication activities.	3, 000.00
Total per Month	5 extra staffs required.	6, 200.00

11.0 SOURCES OF CAPITAL

Figure 6: start-up loans

NAMES	AMOUNT LOANED (RM)	SOURCE
Kueh Yi Kia	80,000.00	Loaned from his parents
Teng Wee King	50,000.00	Loaned from his parents
Total	130,000.00

Figure 7: individual financial contributions for start-up

NAMES	AMOUNT CONTRIBUTED (RM)	SOURCE
Kueh Yi Kia	50,000.00	Sold his MyVi Car for RM 25, 000, borrowed RM 20, 000 from his uncle, and borrowed RM 5, 000 from his girlfriend.
Teng Wee King	50,000.00	Sold his Honda element (2009) model for RM 40, 000 and RM 10, 000 personal saving from his former job salaries.
Stanley Njoku	54,310.00	Borrowed from parents and Uncle
Iloka Benneth	80,000.00	Borrowed from parents and Fiancée
Total	234,310.00

Total amount available at start-up = RM 364, 310 .00 (figures (6) + (7)).

12.0 FINANCIAL PROJECTION

Figure 8:  First Operational Year (2012) – Projected Financial Expenditures

MONTH AND ITEMS “All prices are valued in Ringgit Malaysia – RM”	Marketing Expenditure	HRM Expenditure	Operation Expenditure
January 2012
Production Machineries			13,000.00
Delivery truck			49,000.00
Rental fee for Production Outlet (per annum) – Fixed cost			7,000.00
Production and Packaging			5,000.00
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Radio Adverts (Production and Airing of Ads)	5,000.00
Newspaper Adverts  (Production and Airing of Ads)	4,000.00
Official Website, Facebook and Tweeter Page Hosting.	300.00
Distribution of leaflets in shopping malls	3,000.00
Utilities and maintenance bills			500.00
February 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			5,000.00
Utilities and maintenance bills			700.00
Radio Adverts (Airing of Ads)	3,000.00
Newspaper Adverts (Airing)	2,800.00
Post Mail to 2,000 homes in Kuching	5,000.00
March 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			6.300.00
Utilities and maintenance bills			730.00
Radio Adverts (Airing of Ads)	2,000.00
Newspaper Adverts (Airing)	1,800.00
Magazine Adverts	2,000.00
April 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			7,300.00
Utilities and maintenance bills			750.00
Merchandizing	1,000.00
May 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			7,300.00
Utilities and maintenance bills			800.00
June 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			8,500.00
Utilities and maintenance bills			850.00
Radio Advert	3,000.00
Newspaper Advert	1,800.00
Circulation of KKB Leaflets	1,000.00
July 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			7,500.00
Utilities and maintenance bills			700.00
Radio Advert	3,000.00
Business sustainability training		2,000.00
August 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			8,000.00
Utilities and maintenance bills			740.00
Newspaper Advert	2,000.00
September 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			8,000.00
Utilities and maintenance bills			740.00
Internet Advert	2,000.00
October 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			9,000.00
Utilities and maintenance bills			840.00
Internet Advert	2,000.00
Newspaper Advert	2,000.00
November 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			10,000.00
Utilities and maintenance bills			980.00
Internet Advert	1,000.00
Radio Advert	2,000.00
Newspaper Advert	1,000.00
December 2012
Salary (Employees and Managers per annum) – Fixed cost		10,200.00
Production and Packaging			7,600.00
Utilities and maintenance bills			780.00
Radio Advert	2,000.00
Post Mail of 5,000 KKB pamphlets to houses in Kuching	3,800.00
Surviving critical business disaster training.		4,000.00
Total = RM 352,510.00	56,500.00	128,400.00	167,610.00

Figure 9: Second Operational Year (2013) – Projected Financial Expenditures

ITEMS Valued with Ringgit Malaysia	FIRST QUARTER Jan – March (2013)	SECOND QUARTER April – June (2013)	THIRD QUARTER July – Sept (2013)	FOURTH QUARTER Oct – Dec (2013)
Operation	30,000.00	33,000.00	31,000.00	30,000.00
HRM	22,000.00	25,000.00	25,000.00	21,000.00
Marketing	10,800.00	13,800.00	10,600.00	11,800.00
Overheads	2,000.00	3,300.00	3,000.00	2,100.00
Total = RM 274,400.00	64,800.00	75,100.00	69,600.00	64,900.00

Figure 10: Third Operational Year (2014) – Projected Financial Expenditures

Total Expenditure	Operational Cost	HRM Cost	Marketing Cost	Overhead Cost
RM 349,000.00	150,000.00	135,000.00	50,000.00	14,000.00

13.0 PROJECTED SALES AND BREAKEVEN ANALYSIS

Figure 11: Projected Sales per Annum

YEAR	UNITS SOLD	AMOUNT (RM)
Year 1	100,000	312,000.00
Year 2	148,000	384,000.00
Year 3	220,000	456,000.00
Total	468,000	1,152,000.00

Figure 8: Breakeven point and analysis

From the figure (8) above, At 200 thousand units, haven accumulated over three hundred and fifty thousand ringgit Malaysia (RM 352,510.00) which is the total start-up cost, KKB Sauce starts to make profit for the first time.

14.0 PROFIT AND LOSS STATEMENTS ANALYSIS

Figure 9: P&L Statement for Year 1

From the figure (9), it can be seen that KKB Sauce as expected made a loss of 23,310 Malaysian Ringgit in their first years of operation. These losses are mainly attributed to fact that it is a new brand and stiff competition in the Malaysian market.

Figure 10: P&L Statement for Year 2

By the second year of its operation as soon in the figure (10) above, KKB as expected reaches breakeven point and starts making profit for the first time. Nevertheless, it must be acknowledge that they made loos for the first year and these loses will be deducted from profit made in the second years before finally balancing accrued profit book.

Figure 11: P&L Statement for Year 3

In the third years, the company continues to accumulate profits due to their marketing activities and high sales in the Malaysian market as illustrated in the figure (11) above.

15.0 IMPLEMENTATION

Table 12: KKB Sauce’s Implementation Plan

TIME	TASKS
Oct 20th2011	Machineries ordered from Guangzhou Shifeng Electric Appliance Co., Ltd in Guangzhou City, China by Kueh Yi kia.
Oct  23rd2011	An official website, Facebook and Twitter pages is launched for KKB Sauceby iloka benneth and Teng Wee King.
Nov 14th2011	Outlet will be rented and paid for at Pandugan Industrial Area in Kuching Sarawak by Kueh Yi Kia.
Nov 17th2011	Job vacancies listed in job sites byStanley Nkoju.
Nov19th2011	The Machineries are delivered in Kuching as promised by the Chinese company. Teng Wee King oversees the delivery.
Dec 14h2011	The whole teams made up of the managers undertake arranging of the office and operational area.
Dec 16th2011	Iloka Benneth designs Radio and Newspaper Adverts and discusses airing costs with respective agents.
Dec 20th2011	The company finalize the media choice and coverage networks based on amount in hand.
Dec 25th2011	KKB Sauce’s advert starts to be aired across broad and print cast medias in Malaysia.
Dec 26th2011	Kueh Yi Kia Delivers the truck loaned by his parents to the office, while Stanley Njoku interview new recruits.
Dec 29th2011	Executive meeting held with all the employees and managers present to discuss the business running, individual responsibilities and terms and conditions by/for and with KKB Sauce.
January 1st 2012	Business operations start – First working day of KKB Sauce.
March 2nd2011	First board meeting held to determine company performance thus far.

16.0 CONTROL AND EVALUATION

16.1 COMPANY AUDIT

Executive board meetings will be held on quarterly bases to determine performance of each department, suggest plans and strategies to underperforming departments and develop new approaches to move the company forwards based on environmental and business analysis.

16.2 SURVEY RESEARCH

Customer surveys will be conducted on a questionnaire format to determine customer’s perceptions about the new products and added features they would like on the product. These surveys will also psychological questions customers to gather information about KKB Sauce’s perception in the market.

16.3 MEDIA MONITORING

A media evaluation program will be engaged to ascertain whether the media accomplished the set objectives. Media monitoring will be done under supervision of the marketing Manager. Contents will be analyzed to study information regarding KKB Sauce positive performance under media influence.

16.4 WEBSITE PARTICIPATION

The website will be evaluated based on the following:

• Visits to the website comparing to the previous months (Visit equal the total number of times people clicked on any of the webpages).
• Time spent on per page (time spent per page will be evaluated as campaign runs, and time spent on KKB Sauce webpages are expected to increase per every campaign running).
• Volume of comments and likes on our pages in FaceBook and Twitter.

17.0 RISK EVALUATION TOOL

17.1 CAMPARI MODEL IN KKB SAUCE

17.1.1 CHARACTER

• The four founders of KKB Sauce are all from business and marketing field. This presents a great success track, as they are well equipped with the intellectual ability needed for operating successful business.
• The mental and physical impression is also a thing of job as all founders are within 20s in age. This gives them a great success platform as they have the physical and mental ability to run the business for many more years.
• The level of commitment is also high, and this can be illustrated in the contribution from members where some members had to sale their valuable properties to start-up the business.

17.1.2 ABILITY

• None of the member has ever been in a management position before, but all members have necessary management skills needed such as ability to keep information, and financial analysis acumen.
• All members also have different levels of work experience, and this increases their management ability.

17.1.3 MANAGEMENT

• All managers have bachelors in business related field, and the C.E.O has a diploma in mechanical engineering. The engineering ability of the C.E.O is of an advantage to the management as he would be able to easily understand any malfunction in the machineries.

17.1.4 PURPOSE

• The main objective of the business is for profit making.
• Loan is required because the founders cannot afford the start-up cost, and all capital loaned will be fully utilized in the business operation.

17.1.5 AMOUNT

• The amount required for start-up cost is correct as can be illustrated in the Figure (8) (First Operational Year (2012) – Projected Financial Expenditures).
• The product will be priced between RM 1 to RM 12 depending on size of container, weight of content, and type of sauce contained inside.

17.1.6 REPAYMENT

• From Figure (8) (Breakeven point and analysis) above, the business is expected to yield sufficient profit for full repayment of the loan.
• All loans will be repaired from yielded profits or sale of assets if the business collapses.
• The period of repayment required is 5 years for full repayment of all loans.
• It is expected that the business will generate sufficient reserves (profits) for contingencies.

17.1.7 INSURANCE

• All business assets will be insured against burglary and fire.
• The business site will be installed with CCTV Cameras to watch suspicious activities and aid investigation in times of pilferage and/or workplace bullying.
• Illegal activities (e.g. use contra-bounds) will be restricted within the workplace and among workforce.

18.0 MARKETING AND COMMUNICATION PLAN

18.1 ADVERTISING PLAN

Advertisement is necessary because it would increase product awareness as well as building stronger brand image in the target market(Grein and Gould, 1996). Below are the advertising plan drafted for marketing KKB Sauce within the target market.

18.1.1 THE MESSAGE AND INFORMATION

The message will focus only on the benefits of using KKB Sauce (functional positioning). These benefits include the health benefits – it aids digestion and reduces gestation level and the flavor benefits – it brings out the taste in your food and is good for all delicacies.

18.1.2 PERSUASIVE CONTENT AND MESSAGE APPEAL

The advertising content and message appeal will be developed in two forms to persuaded customers to buy the product because of its benefits.

18.1.2.1 Classical Conditioning - The classical conditioning advert will present a woman cooking a food but does not perceive any Aroma from the dish until she adds the new “KKB Sauce” into her dish. Then, even her neighbor starts to perceive the delicious aroma coming from her kitchen, and all her family rushes to the kitchen to see what she is cooking.

18.1.2.2 Cognitive Learning - This will be based on a married family with one baby girl. The mother cooked a dinner (chicken soup) with KKB Sauce. Her parents were eating the dinner alone while giving her milk from the baby feeder. The baby was not happy while sucking the milk, thus, she said the following words in her mind “it is not fair, you enjoy KKB Sauce meals alone and feed me only milk. Can we exchange for a while please Mama?” The last word “Mama” will be laid out by the baby and will be the baby’s first time to pronounce a word, this will make her mom so happy and gives her some of the soup, then the baby smiles.

In other to meet our set objectives and goals, an aggressive advertising and promotion will be deployed within the first 6 months of launching the product in the market to create awareness, encourage purchase and remind customers about the product through repetitive advertising and promotional offers. The advertising media and promotional strategy are further analyzed below.

Table 13: Advertising Media choosen

Advertising Media and Time	Reason for Choosing Media
TV ~ Cable and Network through Cable TVs = 2,000 seconds Network TVs = 3,000 seconds	High level of customer reach. Present a better image of the brand as a product from reliable source.
Radio ~ Hitz.fm, Lite fm and My fm. Time = 2500 seconds per Radio network.	More affordable than TV and also high customer reach. Better medium to present a clearer message to our customers.
Newspaper ~ Borneo post, The star and China press. Front page = per week for first 6 months. Trump card = per week for 7th to 10th month. Ear piece = per week for 11th to 12th month.	Borneo post is the main Newspaper in east Malaysia. The Star is the main Newspaper in west Malaysia China press is the main Chinese newspaper in Malaysia.
Internet, Mail order and Posters	Affordable and can reach huge market if well implemented.

19.0 MEDIA PLAN

Research has studied the impact of message repetition on audience response towards advertising and reveals that ad repetition increases assimilation of information featured in advertising (Calder and Sternthal, 1980). This is because ad repetition can facilitate learning, contribute to liking of a message, increase consumer’s familiarity with the product and enhance positive association of customers with the messages directed at them (Machleit and Wilson, 1988; Moorthy and Hawkins, 2005). From the above argument, the media strategy was developed to ensure repetition throughout the advertising campaign.

Table 14: Chosen Media Plan

MEDIA CLASS	MEDIA VEHICLES	MEDIA TRENDS AND SCHEDULE
TELEVISION	Network TVs – national television networks selected (e.g. RTM 2 & NTV 7).	Network TVs – the chosen trends are NTV7 and RTM 2. These are the most popular Network TVs in Malaysia and the coverage frequency is high, thus the opportunity to see is also high. Ads will be displayed on these networks twice per week (2 x 2 x 30seconds) for the first 3 and last 3 months of the campaign.
RADIO	Hitz.fm Light Fm My Fm	These chosen radio stations are the top English, Bahasa Malaysia and Chinese speaking radio stations respectively in Malaysia. Adverts will be available on a random frequency basis for 60 seconds on weekdays and 90 seconds on weekends.
NEWSPAPERS	Star Borneo post	The reach of this print cast is substantially high and the advert is expected to cover 50% reach.  Adverts will be placed on the newspaper thrice per week. Weekday adverts will be an ear piece ad (4.5cm x 4.5cm) , and weekend ads will be 8cm x 8cols full colour
MAIL ORDER	Homes Post Boxes	Brochures and pamphlet will be distributed in various homes across Malaysia, to inform them of the new product and the product features. This will be done on quarterly bases.
OUTDOORS	Posters.	Posters will be placed at outdoor stations such as bus stations and shopping outlets to further promote the new product. The reach is expected to be up to 70 reach per coverage area because the audience will have more time to read the information contained in the advert.
INTERNET	Website Fan page Forums	A personal website, Fan page (FaceBook) and Forum page (Twitter) will be created to run throughout the advertising campaign.

20.0 MERCHANDISING PLAN

Figure 12: Chosen Merchandizing format (Source: Google Images, 2011)

The primary goal of merchandising is to offer balanced assortments. A balanced assortment is a result of adequate variety to attract target consumers (Kunz, 2005).

20.1 RETAIL AND BRAND MERCHANDISING

The source will be merchandized following the same system and style used by Nestle sauce in figure (12) above. This involved full display of all rows and columns chosen in any particular distribution unit (e.g. shopping malls and supermarkets). This is aimed at giving customer numerous options to choose from and offering shopping convenience, by displaying all KKB Sauces together. 

20.2 MERCHANDIZING MIX

20.2.1 Negotiation: the marketing department has the responsibility of contacting all potential distributors and negotiating successful business deals with these distributors. Negotiation will involve persuading them to distribute our products by offering discounted prices.

20.2.2 Supply: all outlets where KKB Sauces are distributed will be closely monitored through telephone to replace products that are out of order. Replacement of products starts from when products are lesser than 20 units in any given shopping mall. The marketing and sales department has the responsibility of constantly replacement out-of-order products and building customer relationship with all distributors.

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22.0 APPENDIX 1: QUOTATIONS RECEIVED FROM MANUFACTURER OF REQUIRED MACHINERIES

Guangzhou Shifeng Electric Appliance Co.,Ltd

Contact person: Miley    Email add：mileypackage@gmail.com    

Tel：0086-020-39273262 Fax：0086-020-84991597   

Mobile：0086- 15902090831   Website：www.gzsfbz.com