Opportunities And Target Market Analysis Of Cocoa Delights

Company Overview

The report reflects the examination, evaluation and analysing on organisation based in Australia. The examination, evaluation and analysing is done on the basis of identifying the opportunities exists in the market for achieving the objectives of a business. The company chosen over here is Cocoa Delights which is one of the countries based in Australia. As a marketing manager of the company the report is constructed in formulation of new opportunities of the organisation and comparing those opportunities with the other competing organisation and examining the viability of the opportunities in the market.

The organisation chosen over here is Cocoa Delights which was established in 2000. The organisation is considered to be the youngest in the industries of chocolate manufacturers in Australia. This is the first company in Australia which process cacao of ten various types from

The mission of the organisation is producing the gourmet chocolate of excellent quality and in a healthier manner. They also promised to maintain the business in a fair way with the local as well as overseas suppliers. It will help the organisation to promote the sustainable behaviour as well as minimizing the footprint (Cocoa Delights 2017)

The company has the vision of manufacturing and selling excellent quality of chocolates which are been made from local ingredients. The organisation has also the vision of capitalising the health benefits on the context of dark chocolate and will offer those of different kind. They also have the vision of establishing the market of unique type.

Cocoa Delights should be considered as the integration of innovation and expertise of creativity. The company give values to Customer oriented approach, customer preferences and the products are been manufactured according to the specified needs of dietary.

The objectives of Cocoa Delights are as follows:

• Increasing the revenue of the company by 6% annually within the next three years. The increase in revenue will help in increasing the profit of the organisation and therefore it is one of the significant objectives of the organisation.
• Becoming the market leader of gourmet chocolates in the coming five years. As the company has specified mission and vision with distinct values therefore they also have a dream of becoming the market leader in future.
• Establishing themselves as one of the automatic choice of national retailer of chocolates. They want to become the national retailer by becoming specialist in the dark chocolates in the upcoming 3 years (Chant 2016).
• Maximise the share with the help of dark chocolates. They want to maximise the share by 15% by the coming three years.

The company have the above specified objectives as the business goal. The marketing objectives of the company are as follows:

• Increasing the awareness of the website of Cocoa Delights. The increase in awareness of the website will help the customers to go through the company details and the company’s products. This will also help in reaching to the customers which is one of the significant steps in getting success to the business.
• Increasing the base of the customers by 10% by becoming friend with them in face book and twitter. As social networking sites plays an important role in the current period for the business organisation especially the industries like food and beverages to achieve success therefore this marketing objective will be quite helpful in establishing the customer base. Social media will thus be the based option for getting a strong customer base.
• Expanding the market research is also a good objective for getting the maximum benefit in running the organisation Market research like researching the competitors progress and the price of the products in the market will help in deciding the organisation’s plan and operation.
• Increasing the recognition of brand
• Establishing the company as the respected chocolate manufacturing organisation in Australia.

The objectives formulated by the organisation do not quite the meet the criteria of becoming the SMART objectives. The marketing objectives are not measurable for most of the organisation. It can also not be found as competent. Some key objectives of the organisation is prolong and therefore it is difficult in analysing the numbers.

Specific: The objective of increasing the revenue by 6% annually in the upcoming 3 years should be specific. The objectives should be formulated widely with respect to the nation needs. The expanding reach of marketing should be done as one to one approach.

Mission and Vision

Measurable: The objective of becoming the leader of the market within 5 years should be done on the basis of the computation done by dessert magazine and the objective of becoming national retailer should be measured by food survey.

Achievable: The objective of maximising the market share of dark chocolate by 15% in the upcoming 3years is not achievable as there are many chocolate companies which already exist in Australia.

Relevant: The objective of increasing the awareness of the website of the organisation is relevant as the people will came to know about the organisation as well as their products through the website. The other objective of the organisation is brand recognition. The brand recognition should be done in a good method and utilising the fact that the organisation ranks the best in providing the dark chocolate (Cross and Lynch 2014).

Timeline: Increasing the social activity by 10% every year. Social activity like creating customer base with the help of Facebook and Twitter every year falls under Timeline category.

The target Market is been differentiated into primary and secondary target market. The target markets are been specified as below:

Primary Target Market:

Demographic: The percentage of female consumer is 70% (30% have food intolerances (dairy, gluten, etc.)/20% are vegetarian or vegan/30% prefer to buy organic foodstuffs). The ages of the female consumer are between 25 to 55 years. The primary target market can also be families, singles or couples with living in the inner city and suburban area.

Geographic: The target consumer lives and works in 15km of the outlet which are selling the products of Cocoa Delights and the percentage is 70%.

Secondary Target Market:

The customers who are various conscious about their health they are been targeted as secondary market. The customers who are organic eaters they are also the same.

The percentage of division of the target market with the help of the eating habits is unrealistic. It is considered as too tight target market as the age group restriction and gender choice may not work well while targeting the market. People who love eating chocolate will buy the product (Burke 2015).  

Products that the organization sells is food and chocolate. Cuisines are of high quality and mainly consists European items. The organization should also needs to be amicable for clients who loves having chocolates. Ergo, there is no hard and sole rule that the domestic income have to be as elevated as $190k. The company can set a target market because success and career focused individuals have nothing to do with targeting for retorting to advertisements that focuses on intellectual, moral, healthy and eco-friendly sides of a specific product (Goswami 2013). Individuals who are ethical and are eco-friendly, are generally not required to be efficacious and career focused in their respective life.

Objectives of Cocoa Delights

The Cocoa Delight have addressed the scope of the market geographically and not in figures. The target market of the company lives and works in the main city and/or sub-urban locations of the cities like Sydney, Brisbane, Adelaide, Perth and Melbourne. Almost 70% of the target market works within the 15 kilometer radius of the shop that sells Cocoa Delight products. The organization needs to be more preciseregarding percentageof their clearance income for purchasing theirproduct or product/swithin the same business industry (Kumar 2013).

1. The sector of gourmet chocolate is growing as an industry throughout Australia.
2. Established and held by Australian whilst whereas the competitors don’t have it.
3. Increased alertnessof people regarding their health.
4. Formconsumer loyalty as selling high quality and healthy dark chocolate makers.
5. Communicating that CocoaDelightsprovidesassorted dark chocolates compared to its competitors.
6. To some extent, products made by CocoaDelights is less costly than its competitors.

Strengths

1. Highclassand healthy ingredients

The target market of the organization wishes toexcess healthy food for up keeping their health. High class ingredients that the company uses for the purpose of making fresh and healthy food.

1. Wide-ranging products

Several choices are available for customers to buy from the companies chocolate products.

1. Innovative Idea and use of creativity

CocoaDelights is considered as one of the newest gourmet chocolate makes who are creating and inventing new and extraordinaryproducts compared to its competitors usualproducts.

Weakness

1. Newly found company;

Compared to older brandsnot that strong and have very less market experience.

1. Products sold in a lesser amount

Compared to its competitors, products are sold in much less amount and numbers. To get a grab of the market share, the company need to open moreoutlets for selling more products.

3.Marketing budget is very less

If comparedto global brands,marketing is very much required for establishingthe new organizationwithin the high competitive market.

1. Established and held by Australian whilst whereas the competitors don’t have it.
2. The sector of gourmet chocolate is growing as an industry throughout Australia.
3. Form consumer loyalty as selling high quality and healthy dark chocolate makers.
4. Increased alertness of people regarding their health (Kolbina 2015).

The organizationscontenders’are much more forcefulin advertising and promotional tactics

CocoaDelight is newer than the other chocolate manufacturers thus have much lessexperience about succession within this cut-throat industry.

1. Modifications in importationrules within the food industry

Such stephave high possibilities of changing consumers purchase behavior totally.

CocoaDelights is an Australian held, inventive as well as socially accountablefirm thatmakes products of extraordinary quality. It has set its target market in a broad and realistic basis on the needs of average Australian.As a newly foundbusiness, priority is to awareits consumers about the brand along with utilizing and creating asmany ways as it can for approachinglikelyconsumers. Along with the media, the company also have opened stores on the streets. For increasing its sales and brand awareness, it has opted for one-on-one promotion strategy. Everybodylikes free gift soit isa beneficial way of promotingtheir products (Nyugen 2013).

Presently, the government is passing a bill that entails business to observe and lessen their remaining and insignificant energy use. Fines are intended for firms that do not obey theseorders.

Disposableearnings has decreasedbecause ofmounting interest rates.This deficitis supposed to be recovered in the future. The levels of unemployment is also growing and is projected to risegradually to 6% in the upcoming year.

SMART Objectives

CocoaDelightwill try capitalizing on the social tendencies of customers being more aware, through promoting health welfares of dark chocolates along with offeringthe biggest range of dark chocolate variations.

Technology growth with the help of broadband pan-Australia ishindered, thoughit has taken place and will be donewithin the next three years. Internet tradepossibilities are growing and maximumstoresare capitalizing on this freshtechnology.

Conclusion

Australian chocolate industry is high competitive. Chocolate makers like Haigh’s and Lindtare already well established within the industry. However, CocoaDelights is unique in thisindustry. It isfocused on producing high class and eco-friendlyproducts. It is highly crucialfor the company tomake aware about itself in front of its customers (Rothwell 2015).

Consequently, I effective marketing is the first point that I would recommend. Promotingshould not only be done in megacities like Melbourne and Sydney but also other big citieslike Adelaide Perth,and Hobart. The most influential feature about the company is that it is Australia made and held.While marketing, the company needs tostress that CocoaDelights is the mostrespected gourmet chocolate maker. Moreover,itbrings the largestvariety ofdietary and healthy chocolate.

Cocoa delight is one of the renowned brownie businesses with some renowned and innovative ideas on the same. They offers moderately priced, amazing experience for the foodie people, even it provides the thought for the food for those who tasted their mouth-melting food. They are initiated their business in Brisbane, Australia. But, they are already successful in service worldwide currently. They deal with the fact that chocolates reduce stresses and create positivity in the mood of any individual.

The restaurant, Cocoa Delight, follows legislations, regulations and the code of ethics as a part and the parcel of the company.

Legislations

The legislations followed by Cocoa Delights can be listed accordingly:

Anti-discrimination legislation- Discriminations against races, castes, creeds or even biasness towards gender is not at all supported or encouraged by this particular organization. Every employee holds the right for the same treatment by the organization (Biddle et al. 2013). The caste, creed or the racial treatments or the discriminations was a part of every organization in the past history but in the present scenario, the Australian government discourages it and so this organization. The anti-discrimination legislation is considered to be one of the important legislation that is followed by Cocoa Delight.

Health and Safety legislation- Health and safety of the employees are one of the important branches of any organization that must be considered on any aspect. Cocoa Delight, being a part of the Island Nation, they are also bound for taking care of the safety and the health of each and every employees (Jonathan and Mbogo 2016). This particular legislation deals with the proper health and safety of the employees and the workplace.

Target Market

The regulations that the organization, Cocoa Delight abides by can be listed as:

Australian Consumer law- The Australian Competition and Consumer Commission (ACCC) is the Australian Federal Government’s national agency that generally deals with the competition under the provisions of the Competition and Consumer Act 2010 and the legislations of the state/territory. Cocoa Delight deals with this legislation sand guarantees its quality of the food, if not met, the organization is bound to replace, repair or even refund to the customer.

Advertising Standards Bureau- The Advertising Standards Bureau administers Australia’s system of self regulation advertising through the Advertising Standards Board and the Advertising Claims Board. The website of ASB provides assistance to the customers for lodging any sort of complains against any particular organization. Cocoa Delights supports these concepts and follows it.

Ethics are considered to be the major branch of any company. It is the source that helps for understanding the norms, approaches towards the customers. Cocoa Delights is successful in maintaining the codes of ethics as per to the Government of Australia. The ethical conducts of this organization can be listed as:

Information on advertising and selling- The ACCC publishes feasible for understanding any particular information for small businesses on selling, advertising and the Competition and Consumer Act 2010 (Pullen and Rhodes 2014).

Privacy Act- The Privacy Act regulates the process by which any sort of personal information is being handled. This particular organization is successful and supports the privacy act.

Protect consumers’ personal information- Protecting any sort of information regarding any public is protected officially.

Reference List

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Burke, M.C., 2016. Strategic choice and marketing managers: an examination of business-level marketing objectives. Journal of Marketing Research, pp.345-359.

Chant, S.M., 2016. A history of local food in Australia 1788-2015 (Doctoral dissertation).

Cocoa Delight. (2017). Home – Cocoa Delight. [online] Available at: https://cocoadelight.com/ [Accessed 25 Jun. 2017].

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