Marketing Management Project On Chocolates Pdf Free

Marketing Management Project on Chocolates

Marketing Management Project on Chocolates

Chocolate is one of the most popular and widely consumed products in the world. It has a rich history, a variety of types and flavors, and a loyal customer base. However, chocolate also faces many challenges in the market, such as increasing competition, changing consumer preferences, environmental and ethical issues, and health concerns. Therefore, chocolate companies need to adopt effective marketing strategies to survive and thrive in the industry.

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This article will provide an overview of the marketing management process for chocolate products, and discuss some of the key aspects of marketing planning, implementation, and evaluation. It will also provide some examples of successful chocolate marketing campaigns and offer some recommendations for future improvement.

Marketing Management Process for Chocolate Products

Marketing management is the process of planning, organizing, implementing, and controlling marketing activities to achieve the objectives of an organization. It involves analyzing the market situation, identifying the target market and customer needs, developing the marketing mix (product, price, place, and promotion), and evaluating the results and feedback.

For chocolate products, the marketing management process can be summarized as follows:

• Market analysis: This step involves conducting a situational analysis of the external and internal factors that affect the chocolate industry, such as the political, economic, social, technological, environmental, and legal (PESTEL) factors, the competitors, the suppliers, and the strengths, weaknesses, opportunities, and threats (SWOT) of the organization. This helps to identify the current and potential market opportunities and threats, as well as the strengths and weaknesses of the organization.

• Market segmentation: This step involves dividing the market into smaller groups of customers who share similar characteristics, needs, preferences, or behaviors. This helps to identify the most profitable and attractive segments to target with different marketing strategies. Some of the common bases for segmenting the chocolate market are demographic (age, gender, income, education), geographic (region, country, climate), psychographic (lifestyle, personality, values), and behavioral (occasions, benefits sought, loyalty).

• Market targeting: This step involves evaluating the attractiveness of each segment and selecting one or more segments to focus on. This helps to allocate the resources and efforts more efficiently and effectively. Some of the criteria for selecting the target segments are size, growth potential, profitability, competition level, compatibility with organizational goals and capabilities. For example, a chocolate company may choose to target young adults who are health-conscious and prefer organic and fair-trade chocolate products.

• Market positioning: This step involves creating a distinctive image and identity for the product in the minds of the target customers. This helps to differentiate the product from competitors and create a competitive advantage. Some of the elements of positioning are product attributes (features, quality), benefits (functional, emotional), values (beliefs, ideals), personality (traits, tone), symbols (logo, color), slogans (catchy phrases). For example, a chocolate company may position its product as a premium and indulgent treat that offers a unique sensory experience.

• Marketing mix: This step involves developing and implementing the four Ps of marketing: product (what to offer), price (how much to charge), place (where to distribute), and promotion (how to communicate). This helps to deliver value to customers and achieve organizational objectives. Some of the aspects of marketing mix for chocolate products are:

• Product: This refers to the physical attributes and benefits of the product that satisfy customer needs. For chocolate products, some of the product decisions are product variety (dark, milk, white), quality (ingredients, taste), design (shape, size), packaging (material, color), branding (name, logo), features (organic, fair-trade), services (warranty, delivery). For example, a chocolate company may offer a range of products with different flavors, shapes, and sizes, using high-quality ingredients and attractive packaging.

• Price: This refers to the amount of money that customers pay for the product. For chocolate products, some of the price decisions are pricing objectives (profit, market share, customer satisfaction), pricing strategies (cost-based, value-based, competition-based), pricing tactics (discounts, coupons, bundles), and pricing policies (fixed, dynamic, discriminatory). For example, a chocolate company may charge a premium price for its products to reflect its high quality and exclusivity.

• Place: This refers to the channels and locations that make the product available to customers. For chocolate products, some of the place decisions are distribution channels (direct, indirect), intermediaries (wholesalers, retailers, agents), distribution intensity (intensive, selective, exclusive), and physical distribution (transportation, warehousing, inventory). For example, a chocolate company may sell its products through its own online store and selected specialty stores in major cities.

• Promotion: This refers to the methods and tools that communicate the product value to customers. For chocolate products, some of the promotion decisions are promotion objectives (awareness, interest, desire, action), promotion mix (advertising, sales promotion, public relations, personal selling, direct marketing), promotion budget (percentage of sales, objective and task, competitive parity), and promotion evaluation (reach, frequency, impact). For example, a chocolate company may use a combination of online and offline media to advertise its products, offer free samples and discounts to attract customers, create positive publicity through social media and events, and employ trained salespeople to persuade customers to buy.

• Marketing evaluation: This step involves measuring and assessing the performance and effectiveness of the marketing activities. This helps to identify the strengths and weaknesses of the marketing strategy and make necessary adjustments. Some of the methods and tools for marketing evaluation are marketing metrics (sales volume, market share, profitability), marketing research (surveys, interviews, experiments), marketing audit (systematic review of marketing environment, objectives, strategies, activities). For example, a chocolate company may use sales data and customer feedback to evaluate its marketing performance and make changes to improve its product quality, pricing strategy, distribution network, or promotion campaign.

Examples of Successful Chocolate Marketing Campaigns

Here are some examples of successful chocolate marketing campaigns that have achieved remarkable results in terms of brand awareness, customer engagement, and sales growth:

• Cadbury Dairy Milk: Glass and a Half Full Productions: This was a series of viral videos that featured various quirky characters performing to music in unexpected situations. The videos were aimed at creating joy and happiness among viewers and associating Cadbury Dairy Milk with fun and entertainment. The videos were widely shared on social media and generated millions of views, comments, and likes. The campaign also increased Cadbury's brand awareness, preference, and sales. Some of the popular videos were Gorilla, Eyebrows, Trucks, and Zingolo.

• Kit Kat: Have a Break: This was a long-running slogan that captured the essence of Kit Kat's value proposition: offering a moment of relaxation and enjoyment in a busy world. The slogan was used in various creative ways to communicate Kit Kat's message across different media and markets. The campaign also leveraged on Kit Kat's distinctive shape and packaging to create memorable visuals and sounds. The campaign helped Kit Kat become one of the most recognized and loved chocolate brands in the world. Some of the notable examples were Bench, Panda, Crossword, and YouTube Break.

Ferrero Rocher: Golden Experience: This was a global campaign that showcased Ferrero Rocher's premium quality and elegance through a series of glamorous events. The events featured celebrities, influencers, and guests who enjoyed Ferrero Rocher's chocolates in luxurious settings. The events were also live-streamed on social media and supported by online and offline advertising. The campaign aimed at creating an aspirational image for Ferrero Rocher and attracting new customers who appreciate fine chocolate. The campaign boosted Ferrero Rocher's brand awareness, reputation, and sales. Some of the events were Golden Symphony in Dubai, Golden Opera in Moscow, Golden Party in Paris, and Golden Exhibition