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Marketing Strategies for Godiva Chocolates

   

Added on  2019-09-26

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1Slide 1: About GodivaGodiva Chocolatier is a Hong Kong based company which began its processes in 1926 inBrussels, Belgium. The company is recognized as one of the leading brand of fine chocolates.The fine products of Godiva range from praline chocolates, shell-molded chocolates and truffles,coffees, biscuits collections, chocolate drinks representing the dedication of the companytowards excellence. Godiva has been embodying the art of chocolates with a creative andinnovative approach towards texture, flavor and appearance.Godiva has been able to create an impression of bringing into the perspective, the variousstrategies that can be applied by the chocolate manufacturing firm which is seen to be in linewith the technology and the product quality. The company saw its inception in the year of 1958from where it was seen to culminate in the global recognition and in the year of 1972, it extendedto Japan and New York. The Campbell Soup was seen to witness the sales arrangement and itwas later sold the company to a Turkish Company named Yildiz Holding in 2007. Godiva is seento apply various internal and external strategies in response to the competition present in theglobal world.Slide 2: Godiva MarketProduct: Godiva Chocolatier are Specialized in ice cream and cookies, Cocoa mixes, flavoredcoffees, Truffles. The boxes of iconic gold have developed an admired and upscale brand. Theleading brands of the chocolates in the world are found in the Hong Kong market. Thesupermarket of Hong Kong has an array of brands in Hong Kong. The consumption of chocolateare seen to vary from country to country. For example, the Asians are seen to eat less sugaryproducts whereas European are seen to enjoy it (Khan, et al., 2014). The Asian have a clear
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2preference for dark chocolates due to its bitter taste. Due to the huge production of chocolates inHong Kong, the chocolate has always been on the shopping list of the tourists coming to HongKong. The acquiring of Godiva chocolates has permitted the Ulker Group to get into the globalmarkets as well as is observed as a success story only for economy of Turkish. Ulker group is thebiggest company of consumer goods in Food industry of Turkish. For $850 million, it was soldto Ulker Group in the year 2007. Slide 3: Main Concerns in GodivaAccording to Kotler, Rackham, and Krishnaswamy (2006), the sales function is considered to bethe closest contact to their customers and further a strong customer orientation (Homburg andJensen, 2007). Therefore, the information must be shared with the market analysis and R&Ddepartment so as to improve the process of assessing, finding and selecting better and innovativeideas for the company. Consumer also learns about the chocolates from various other sourceswhich are mainly from the families and friends either from their personal experience or throughadvertisement. Whether advertising or a promotion help or hurt a brand and its image is underconsideration. In long terms, the advertisement aids a brand by building more loyalty andsensitivity regarding price in the consumers regarding their purchase behavior. The decisionregarding a purchase which pertains to a specific brand as well as loyalty of the outcome ofvarious characteristics of a product must be taken. (Mela, et al., 1997). Advertisers andpromoters must always remember that messages of advertisements are interpreted variouslybetween various genders (Hogg, et al, 2003).
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