Free Introduction to Marketing Essay Sample
|← Nike||The Post-It Note →|
Buy Cheap Introduction to Marketing Essay
The UK citizens are amongst the largest consumers of chocolate in the world. Each citizen consumes approximately 10 kg of chocolate every year. Firms such as Nestle and Cadbury dominate the UK chocolate market. This makes the competition within the region so stiff. Both Nestle and Cadbury are struggling to keep their share of the market. Cadbury makes approximately a third of the chocolate that the British consume. Dairy milk brand gives the company a profit of up to $250 annually. Nestle on the other hand is exploiting the strength of its main brands and offering it in new varieties. The varieties include chunky, cubed and orange flavor. Consumers have been loyal to such brands for half of the twentieth century. Cadbury continue to introduce new brands such as Dairy milk and Kit Kat. Therefore introducing a new brand in the market is a great undertaking.
In the UK chocolate market, older people eat more chocolate than children do. The recent research done on chocolate and confectionary consumption by Mintel ascertained that people with 55 years and above eat chocolate worth 750 pounds annually (Waters, 1999). This shows that they consume more than twenty percent of the total chocolate and confectionary sold in Britain. People above the age of 55 have become the key target in the chocolate market. The research firm projected that the UK chocolate market will be worth 4.5 billion pounds by 2013. Since people over 55 years of age are the largest consumers, the firm should position itself to serve this segment.
Marketing mix consists of the four elements, which are price, product, place and promotion. An offer consisting of detailed marketing mix can be made to the potential consumers by varying these mix elements (Strauss & Frost 2008). The four P's in the marketing mix are the parameters that can be controlled with reference to the internal and external limitations of the marketing environment. The purpose of such decisions based on the four P's on the consumers in the target market is to create a positive response. The proposed trial launch in North West England scheduled for February 2011 would consist of a brand name. The brand would be called Twixty.
The various brand that we would develop include would be chocolate candy bar, marinate white chocolate and ice top chocolate. Chocolate candy bar would have be soft candy covered with milk chocolate. Marinate will be milk chocolate with soft nut filling and finally the ice top would be milk chocolate with jelly. The description of the brands will be, weight 350 grams and high quality. The packaging design will be creative in order to boost the sales. It will consist of a variety of colors to illustrate the new images of our brand. Our pricing objectives strategy will be based on evaluation of how firms in the market set their prices. The assumption that will be made is that the firms were forced to set a single price on one unit of the product. There will be different prices for different customer types. It is recommended that the firm's price should be positioned below premium price of competitors.
Retailing and distribution channels for chocolate are many and ranges from small retailers to larger market outlets. As an introduction, internet use to distribute the product is recommended. For marketing communications, strategies that will be used will reach venues such as community leisure centers, supermarkets and gymnasiums. 'Emarketing' will also be included in the launch. Evaluation and control mechanisms will be used to analyze the effectiveness of the sales. A scale, which enables accurate measurement, will be developed. For illustration, online distribution through click through rates (Qualman, 2010). Other measurements can be obtained from response rates or online users to our websites. An employee with technical skills regarding 'EMarketing' is recommended to manage each line.