In: Economics
Kofi Sarpong is privileged to participate in a
three-month training programme at Rapperswil in Switzerland
on
the production and sale of Snails. On his return to Ghana, Kofi has
decided to venture into the production and
sale of Snails in the Ghanaian market. He is fortunate to have a
partner who is willing to fund the business
since there are favourable conditions for producing the snails in
Ghana. To ensure the success of the
investment, it is important that Kofi undertakes market research
before committing the resources to
production.
QUESTION 2
Kofi Sarpong is privileged to participate in a three-month training
programme at Rapperswil in Switzerland on
the production and sale of Snails. On his return to Ghana, Kofi has
decided to venture into the production and
sale of Snails in the Ghanaian market. He is fortunate to have a
partner who is willing to fund the business
since there are favourable conditions for producing the snails in
Ghana. To ensure the success of the
investment, it is important that Kofi undertakes market research
before committing the resources to
production.
Required:
Assume you have applied to Kofi Sarpong’s upcoming company as a
Marketing Manager. As part of your
interview, Kofi has requested you to develop the Research Brief for
the proposed research project. Develop
your research brief for Kofi Sarpong. (20 marks
As an applicant of Marketing Manager following research project is proposed to Kofi Sarpong
Profitability of snail marketing in Ghana
The market opportunity for snail farming in Ghana is huge but
grossly underrated. Snails are a huge part of the diet in many
parts of Ghana, although they are not always affordable and
available all year round. If you rear snail in commercial quantity,
hotels, and fast food restaurants will be your regular
customers.
In Ghana, the prices of raw, matured snails go for $1 to $2
depending on the size. However, the annual demand for snail in
Ghana cannot be overemphasized. The international trade in snails
is flourishing. The USA imports more than $4million worth of snails
annually from all over the world, including Ghana.
For many years now, snails handpicked from the farm or bush has
been the only way to get snails to the market and dinner table.
Currently, the demand for snail is higher than the supplies, an
indication that the market potential of snail is inexhaustible,
locally and internationally. Starting both small and large scale
snail farming businesses in the only way to fill up the spaces
between the demand for snail and its supply in Africa. Hence the
market is widely flourishing.
Snail farming in Ghana requires low capital and the working capital may be very little as compared to other Animal rearing business.
Benefits of snail farming in Ghana
1. It is easy to run.
2. It is very profitable.
3. It is environmental friendly also.
4. They are highly productive.
5. Snails are Low in fat and cholesterol therefore healthy.
6. Snails are Highly medicinal and used for health related products.
7. It Has traditional healing benefits.
8. A good export opportunity to various nations.
How To Set Up a Profitable Snail Farming
1 . firstly, secure an environment Suitable for Snail Rearing.
2. Consider The Type Of Soil for snail farming, The most preferable soil for snail is sandy-loamy soil with little water holding capacity. Clayey soil and acidic soil should be avoided.
3. Build the snail house for the snail.
4. Get your Snails readied For Farming.
5. Purchase your Snail Food and Feeding or You can look for foods around your environment.
6. Harvest your snail when they are grown up.
7. Market your snails to market women, shops, restaurants, hotels or interested buyers in Ghana.
How To Succeed Faster In Ghana On Snail Farming
1.Kofi and partners Have To Be Determine: Every business has challenges, So you have to be determined to succeed.
2. Have a Business Plan: For setting up a snail farming in Ghana, Kofi and partners need to have a business plan.
Every successful business requires a successful plan and Good strategies.
3. Be Accountable for the risks.
Requirements Needed To Start a Snail Farming
1.A Little Capital
2. Suitable Environment
3. Well constructed snail cage and home for them.
4. Marketing strategies/plans
You can start small and Grow Big, It is a very lucrative business to venture in…However, it is advised yto venture into this business.