Marketing strategy to apply in whistler chocolate
It might not be easy to identify the most viable market niche and developing the commodity to cover the gap. However after managing this step, all is not over. Getting the word out is the burden that follows in the queue, if one fails to successfully tackle this challenge, then making profit is virtually impossible. Having started the Whistler Chocolate company was not all. The approach to proper planning with the objective of achieving an outstanding competitive market advantage or simply marketing strategy is the biggest matter of consideration at hand (Adhikari, & Roy, 2017).
With the pace at which the information technology is growing after the invention of internet, contribution of the social media to business cannot be neglected. A previous research showed that Australia have more than 200million phone users with more than 80% of this number being exposed to the use of social media. This implies that if we put this platform into use in our organization we are likely to reach 160million people on a single post (Abratt, & Bendixen 2018).
The second position of YouTube search engine after Google explains that there are quite a large number of people who seek for information in video content rather than the written format. Maybe it’s the mind stimulating characteristic of videos and the easy of understanding its content. If we as Whistler Chocolate embrace this advertisement platform we are likely to reach a large number of population implying more customer hence sales and thus profit (Aghazadeh, 2015).
We will also employ the creation of blogs on our Chocolate brand with the aim of promoting it in the market. To further this and ensure that the information lands on the ears of many potential customers we will optimize our search engine to draw large traffic to our sites and hence a higher number of customers (Vilkey, & Dehbid, 2016).
Market for any product is dictated by the interest of people, their life style, as well as their gender and the ability to buy the commodity.
Chocolate being a food product is likely to draw the interest of anybody in the population of any area. To further this it’s necessary to acknowledge that the flavor and the taste of chocolate attract the will of many children to have one the branding the packing of the Chocolate also is obviously an attracting factor to kinds. Not only children; also the adults who have some defined taste for sugary food stuffs who also go for the Chocolate (Chernev, 2018).
Social media
Another very potential and vital customer is the group of people with prevalence for lifestyle and luxurious life and so the eating habit. Chocolate is also viewed as a symbol of love by family members and couples when a person is surprised with one.
The discussed above is the only defines the consuming group target, however we are expecting middle men customers like the shopping malls, retailers, and hawkers as well as individuals holding luxurious and rare life events that possibly occur once a year or throughout once life time like wedding, birthday, graduation, ordination or any other rare ceremony (David, & David, 2017).
The positioning theory explains the placement of a product or a brand in customers or potential buyers mind and sticking it at the top end such that whenever he thinks of a product of the same line he thinks of your product. In our company, the concept of positioning or the placement of our Chocolate brand implies that when an individual thinks of sugary sweet food products will possibly think of our product.
The concept of positioning is narrowed down to the pricing, promotion, Product and placement as the advertising means (Elenkov, 2014).
Whistler Chocolate will use this approach in the sense of organizing of open air events and road shows involving simple contest like dancing, singing or comedy followed with awarding the winning individual with the product of our brand. This will help us to get the word to the winning friends and family member and thus promoting the product. Psychologically, the winning individuals may also be enticed to buy the same product then or in future as they from then feel to be part of the product (Tomczak, Reinecke, & Kuss, 2018).
In this note, with regard to our Chocolate brand, we will ensure that almost everywhere there is an advert on the brand either inform of a print in the billboards, television advert, radio advert, and print in the news paper and even make our own magazine to promote the Chocolate brand. We will also ensure that our product make an appearance in the show rooms. The effectiveness of this advertisement model has been argued to be determined by the number of appearance the product makes in the eyes and mind of the potential customers (Foxall, 2014).
This refers to the perception of our customer to our product in relation to our product and their cost. The mapping will help us to adopt the best placement mode in the sense of price and branding. Our mapping will be based on the quality of the product we make as well as its branding and preference.
Creating video tutorials
Marketing mix refers to the set of actions, tactics or formulation used by the organization to promote its brand or service market position. These aspects of change entail the 4ps; that is the product, promotion, the price and the place in the market place (Papasolomou, Thrassou, Vrontis, & Sabova, 2014).
The product and the service refer to the commodity or the action being provided by an individual with an intention of exchange for money. In our case the product is the Chocolate. It is the item we are providing with the intention of exposing it to the market for monetary exchange. The product marketing mix is refers to the introduction of the product to the market or connecting the product with our customers. This will call for us to introduce the Chocolate to the target customers. With a clear understanding of the product, we will have to air out distinct characteristics differentiating our Chocolate brand with others existing in the market (Giannakis, & Harker, 2014).
At this point of introducing the product to the market, web will carry out pre-launch activities like advertising the product in the media like Facebook to create market hype before the introduction of the product in the market place. This will go hand in hand with the development of a marketing proposition position that already we have formulated and stated as ‘buy one and get back your money inform of the taste, get you Chocolate packet today’ (West, Ford, & Ibrahim, 2015).
Refers to the basic product and focuses on the basic intended purpose of the product. Basically chocolate is a food product intended for basic consumption well known as eating. Chocolate falls in the category of junk food, this characteristic helps in uniquely positioning the chocolate in the mind of the consumer and therefore an outstanding market completion (Hajli, 2015).
This mainly entails the quality of the product and the material composition of the commodity. Chocolate should obliviously be sweet. It’s a food, but it’s not meant for stomach capacity satisfaction but rather for the luxury. This luxurious nature of the chocolate places it at a distinct position in the market thus helping the Whistler Chocolate Company in campaign for the product position the product Chocolate at a competitive position (Thrassou, Vrontis, & Bresciani, 2018).
This aspect refers to the consumer’s expectation to the level of satisfaction from a product. The packaging in this case is essential and should be appealing. This will help the company to create the desire of the new customers to test the product with a given expectation of satisfaction.
Creating blogs and optimizing the search engines
It a no secret; the cost of production is not sufficient to set the price of a product in the market especially where the business want to position its product in the top of competing products list. In whistler Chocolate Company economy pricing strategy failed and the organization opted for pricing for market penetration (Hunt, 2017).
This is a pricing strategy that sets the price of a new product relatively low price of the product. This is meant to attract the potential customers to buy the product in the notion that the price of the product is low. With time the company increases the volume of sales and hence the profit of the company. After duration of time the chocolate brand will be well established in the market (Amirkhanpour, Vrontis, & Thrassou2014). There after the company will gradually increase the price of the chocolate. At this position numerous customers have developed preference and taste for the chocolate and therefore increasing the price of the product with a small margin will have less significant to the change in customers buying habit. Research have proven that when an individual starts using a certain commodity, then the use becomes habitual, when one developed the habit of using a certain commodity then the change in price by increase may not lower the consumption of the same product and if it does the difference is almost insignificant and it is catered for by the increased price. Thus after a given duration of operation, it will be easy to meet the desired price that will draw high profit without exploiting the consumers, while still maintain the high number of sales in the market ( Josephson, Johnson, & Mariadoss, 2016).
Distribution is one of vital marketing mix in the field of active business. It is the channel goods follows to reach the final consumer from the producer. In our organization distribution refers to the channel the chocolate follows until it reaches a kid or an adult in a given ceremony or spending leisure somewhere for consumption (Capon, & Go, 2017).
Our chocolate is sold in almost all shopping malls, supermarkets, retail shops and hawkers all around Australia. Most of this shopping figures comes for the product from the manufacturing outlet channel, buy at bulky at discounted whole sale price. They further break this bulky and decide the cost of each piece depending with the cost of transport or even the class of their customers or crises in the market (Sutiksno, Rufaidah, Ali, & Souisa, 2017).
Market target
For the purpose of meeting a large number of populations in the market we have established our outlets in the towns of high population in order to meet high number of potential customers. Unique to other business, we also a mobile marketing strategy where we use the large containers vehicles to reach the potential customers in places of large multitude gathering during events. We also offer franchising in our company by allowing the third party license allowance to distribute the chocolate for our business (McCamley, & Gilmore, 2015).
Promotion refers to marketing communication strategy with an aim of creating awareness for the product and persuading the potential customers with the interest of generating higher sales for the organization and hence the profit. Product promotion can be achieved through various means like;
This refers to a promotion mix that involves a one to one communication between the buyer and the seller of the commodity. With this mode of promotion it is easy to persuade new customers to give a trial to our product. This is the most successful promotion method as the seller is able to obtain immediate feedback on the response of the customers to the product in terms of quality and price as wells as the ability of the chocolate to satisfy the want in question (McDONALD, 2016).
Advertising refers to indirect communication to the buyer through various means with the objective of promoting the product. In Whistler chocolate we are using the billboards the television adverts, radio adverts, magazines, news papers and the show room to market our brand (Varadarajan, 2018).
We give discount to our loyal customer to maintain loyalty. We also give discounts to our customers who buy the chocolate in bulky. This helps us to maintain our customers and influence them to come back again for shopping on the same in future. Research shows that a little discount influences the buyer psychologically and entices the buyer to behave rationally in their buying behavior. For instance we noted that marking the cost of the chocolate packet as 1.99$ dollars will attract more buyers than marking the cost of the same at 2$ dollars. Consequently, this increases the amount of sales and hence the profit of the Whistler chocolate company (Nicol, 2017).
We use this technique to have the word out about our chocolate brand through giving simple prizes to the individuals. Those who are lucky to get the prizes feel honored and spread the information about the existence of our brand in the market. The prizes are given out through various means of selecting the winners like simple contests and participation in simple lottery game. We also use the criteria of bulky buying in selecting those who are worthy for the gifts (Payne, & Frow, 2014).
New business positioning
The nature of chocolate suggests that is more suitable in celebration forums. Most of the holidays involve events of celebration. Therefore giving out offers during the holidays is likely to attract exponentially high number of buyers and hence the profit (Burford, & Chan, 2017).
However high the level of technology intensive production method is employed, human resource remains significant and essential. For smooth running of the company, there is need for employment of the right people in all divisions of labor in the company from the front office personnel’s to the managing board and the casual workers as well as the subordinate workers. The company with the right type of human resource is likely to be successful than the company that miss this advantage (Proctor, 2014).
What matters most is how the customer is served in an organization. Therefore we don’t take the process of delivering our product to our customers. After sale services creates the desire of the customer to shop again and again in the same shop. This in long run promotes the product and hence the sale (Reed, 2018).
The presentation or the outlook of the product matters a lot. We therefore ensure that our chocolate is in good outlook to make sure it is appealing to the eyes of the customers (Spanjol, Tam, Qualls, & Bohlmann, 2015).
Conclusion
To sum up, this case study helps an individual to identify and acknowledge the key theories as well as the marketing principals. It also helps the scholar to critically evaluate the need for creation of value for organization. It also helps the individual to apply the marketing mix in order to promote his product with an aim of maximizing the profit (Miles, Gilmore, Harrigan, Lewis, & Sethna, 2015)
Reference
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Promotion
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