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Marketing plan can be determined as comprehensive blueprint or document that enables organization to market and advertise their products or services for coming years. This report is introduction to new type of chocolate diary desserts which will be targeted for adult market. Further, the distribution will be secured through Woolworths and Coles.
In earlier years, there were chocolate diary desserts like YoGo blah vlah for children. However, there are no such similar desserts available. This is a type of issue that is faced by most of the adults as they do not get to taste similar desserts once they are grown up. In this context, I have come up with chocolate diary dessert that will be focused mainly for adults and this will be helpful enough to attract customers. The products will be delivered in two different flavours that are chocolate and vanilla. As per the preference, there will be changes that will be made and new taste will be introduced.
Below given are the strategy that will be implemented in order to development for growth. For this process Ansoff matrix will be implemented:
It can be determined as a strategic planning tool that provides frameworks and it is helpful for individuals to make distribute their products. There are four different strategies that are included in Ansoff matrix and these are as follows:
In accordance with strategy, innovation will be made in the existing product. Further, this is done in order to makes sure that market share can be raised.
The existing products will be introduced in new market. For this process it is important to conduct market research so as to tastes and preferences of people at other market (Powell, Harris and Fox, 2013).
New product will be introduced for existing market. This is done by identifying the issues that are faced by customers. Products are developed that will enable to satisfy customers requirements.
In this strategy, new product will be introduced in new market.
Among all these strategies, product penetration will be used as the product already exist in the market but only for children's. However, the product that is introduced will be for adults and so there are changes in taste but it will not have much difference with compared with the product that is delivered to children's. For growth, this strategy is effective as their will be more changes that will be implemented so that product will be able to attract customers.
Market segmentation can determined as process through which division is made among customers. This is done in order to develop strategies with the help of which sales and profitability can be raised.
Below given are the segmentation that can be made for the given product:
This is a type of segmentation that is made on the basis of income, occupation, family size, age, gender, etc. This segmentation is used by most of the organizations.
Population is divided on the basis of decision making pattern, behaviour, usage, etc.
This is divided according to lifestyle, interest, activities preferred, opinions, etc.
Division is done on the basis of geographic locations. The taste and preference will be different and changes are made in product so that customers can be attracted.
Among all these, behavioural and demographic segmentation will be used. The product is specifically for adults (20 to 60 years). Further, division is made as per the quantity that customers are willing to consume. Moreover, division on the basis of behavioural segmentation is made according to preference of customers and their purchasing pattern. In addition to this, it is a routine type of decision as after a meal customers prefer to have desserts at the end and they will purchase as per the categories that is being developed.
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When customer made decision for purchase, there are five steps involved. At each step if they get unsatisfied, then there will not be any purchase made. Below given are the steps involved:
This is a stage in which one get to understand the need for want for the products that will satisfy their requirement. As per the new product, need recognition arises, then they have meal and get in want of dessert that will be of their preferred taste.
As per this process, customers will search for different type of options that are available for them. They will select the products is preferred by others.
In this step, price, quality and quantity will be compared. Customers will prefer to select the dessert that satisfies all their needs and requirement.
As per the evaluation step, customer will purchase the products.
In this, customers will identify the issue's or problems that are identified in it. In case, new developed dessert satisfies all their requirement, then it will that product will be purchased again. On the other hand, it does not meet out their expectations, then they will stop making purchases.
Marketing mix: This can be defined as a combination factors that is helpful enough for the organization to influence customers so that they make purchases. In this context, there are four main elements that fall under marketing mix and they are as follows:
The dessert will be sold in two different flavours, that will be chocolate and vanilla. It will include nuts, cheese, chocolate chips and wafers. For both different flavours it will include different type of ingredients. Further, changes will be made in the ingredients as per the preferences of customers. There are cases in which people may not prefer to have nuts or some may. In such situation, changes will be made in the ingredients that will be included as per the customers preferences.
The price of the products will be kept as per the quantity that customers prefer to consume. When the rate of quantity increases, then the price will also simultaneously raise. With this respect, the normal price for dessert will be kept is £4. As the quantity increases, then the price also increases. Price can be determined as one of the main factors due to which people prefer to make purchases. When people will get to know about the product, then the price will be raised.
The product will be distributed in supermarkets. More specifically, it will be sold at Woolworths and Coles. These markets will be helpful enough to make people to reach out the products easily (Bragg, Miller and Elbel, 2016). These two supermarkets are high effective enough and it will be helpful enough to make sure that customers will be able to reach out the new products.
This can be determined as one of the most effective element as it enables to convey information about the product. In this context, newspaper, television and social media will be used. Advertisement will be made that will help to make customers informed. Among all these, social media will be used high as it will provide an opportunity to know the customer's perception towards product. Social media like Facebook and Twitter will be used to in which advertisement will be displayed. It provides to have direct interaction with customers and changes can be made in the products by knowing their preferences.
Branding can be determined as a process that creates unique identify of the product or organization. When there is brand image, then it develops positive perception among mind of customers and accordingly they make purchases. There are different type of strategies that are included in this, among which one of them are as follows
It is a type of corporate tool related to planning. This is helpful enough to portray firms brand portfolio. Further, it also enables to speed up the market growth. There are four different type of quadrants that are included and they are as follows:
They hold up on low share when it is compared with its competitors and it operates in a slow growing market. The investment made in this may not be worth it as they investment make may not be recovered due to low shares. However, there are changes that with time the rate of profitability can be raised.
These are the most profitable brands and accordingly, strategies should be developed so that they will be able to raise profitability. Investment should not be made in this as there can be a fall of share if the strategies implemented is not effective enough. Further, if there is not proper support for cow, then there will not be any capability it make innovations.
These generally operate in high industries and possess high market share. Further, it can be determined as a primary unit in which investment should be made, this is becomes there are chances that they become cash cows.
These are the one to whom more closer consideration should be made. These have low market share in the market in which they can grow faster. They do not always succeed and even if there is high investment made, they do not get proper returns.
Among all these the companies that are selected for distribution are Woolworths and Coles. These organizations fall under cash cow as their market share is high. The new product will be able to develop and gain huge profits as high number of customers can be effectively attracted.
Packaging can be determined as outer appearance of the product so that it can be protected. On the other hand, labelling is something in written of words or short phrase. For the new product, it is important to have proper packaging and labelling. This will be helpful in making it attractive and to protect the products from getting spoiled. As per a research conducted, it has been identified that packaging of a product does grab attention of customers. When there is attractive packaging made, then for one point of time customers will look onto it and they will at least try out the product.
As per the labelling that is required by the government, it important that all the information about the ingredients, its price quantity, etc. should be provided. This is helpful to make sure that no wrong information is being conveyed to them. When proper information is provided, then it is helpful enough to develop positive perception among the mind of customers.
In order to attract customers at the time of point of purchase, there are different set of strategies that can be implemented. In this context, below given are few of the strategies that will be used for new dessert product:
This can be determined as a strategy in which there will be free gift provided with the dessert. It is helpful enough to make sure that customers get attracted due to the free gift that is being provided with them.
This is a type of strategy in which when product will be purchased in bulk, then it will be sold at low price. This will be helpful enough to sell out the products and sales can be raised. This will enable to make sure that more and more people will make purchases and this way huge profit can be gained.
From the findings, it can be stated that customers needs and requirements should be analysed and appropriate product should be developed that will be able to satisfy fulfil the requirement. In this context, proper research should be conduced so that product will be able to provide and contribute huge product.
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