Develop Organizational Marketing Objective

This report discusses the development of marketing objectives for Haigh's Chocolate and Cocoa Delight joint venture, including short-term and long-term objectives. It also covers performance measurement using key performance indicators and risk management strategies. Learn more about the marketing plan and future goals of Haigh's Chocolate.

Develop Organizational
marketing objective

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Short term objective:...................................................................................................................4
Long term objectives:..................................................................................................................4
Performance measurement:-........................................................................................................6
Risk management Strategy .........................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing objectives is basically refers to as a set of targets which an organisation want
to achieve within a particular time period. This report is based on Haigh's chocvolate which is a
mid sized organisation operate in the market of Australia in order to offer chocolate. But now it
want to expand its business to all over market of Australia by adopting joint venture strategy
with the Cocoa delight which work at similar level (Castaño, Méndez and Galindo, 2015). This
report contains information regarding the main objective of joint venture performed among
Haigh's chocolate and Cocoa delight, its performance evaluation and risk management strategy.
MAIN BODY
The Haigh's chocvolate is a mid-sized company which offer range of chocolate at mid
ranged price at few stores per city. But it want to expand business to several other capital cities
of the Australia which is not possible to perform at individual level as the competition is high.
Hence in order to expand the market it has made a proposal for performing Joint venture with the
Cocoa delight which is also an mid size company. This joint venture will provide several benefits
to Haigh's Chocolate as Cocoa delight maintain a higher brand image in the marketplace which
support it in utilising it in order to enter into new market (Crane and et. al., 2019). Despite of
this, Haigh's chocolate is planning to expand its business in every capital city of Australia by the
year 2020 which in turn contribute toward the growth and success but it can be performed in
efficient manner when it started operating with Cocoa in a joint venture. Hence it is required to
formulate effective marketing strategies through which brand awareness can be strengthen
among the consumers. Therefore in order to achieve growth it is decided by the Haigh's
chocolate to expand its product line by entering into Joint venture with cocoa delight and for
which the proposal is being presented in front of the CEO. This contains the whole information
about the marketing plan and future goals of Haigh's Chocolate along with the ethical and legal
consideration they maintain when performing work with the Cocoa Delight (Gürel and Tat,
2017). From this it has been determined that the Haigh's Chocolate will get greater growth and
development opportunity in the market of Australia. For performing work with it Haigh's
chocolate has formulate certain objectives which are mentioned below:

Short term objective:
The short term objective of Haigh's chocolate is to develop brand awareness among the
targeted and potential customers so that market penetration can be achieved. In addition to this
another objective of Haigh's chocolate is to recruit more employees for the marketing department
so that they would be able to handle all the promotional activities that are required to be
performed for building brand awareness within the marketplace.
Long term objectives:
The short term objectives will support in accomplishing the long term objectives which
are essential to expand the business throughout the Australia. The long term objectives for the
Cocoa delight would be:
 Its main objective to expand business in each and every capital city of Australia with the
help of Joint venture.
 The target of Haigh's chocolate is to make sale of around 30% for machine made
chocolates within new market.
 The stores of company must achieve 15% market share before break-even sale level.
 Roll out from 22 stores to 100 stores within 5-7 years after its joint venture.
 Haigh's chocolate is also aiming toward perform branding exercise that complies with the
Competition and Consumer Act 2010.
These all are the short term and long term objective which Haigh's chocolate will work
toward accomplishing after getting enter into the joint venture with the Cocoa delight. This is
because both the companies are operating at medium level and by performing joint venture it
become easier to dominate the market of Australia by sharing their knowledge and capabilities. It
will support in getting adequate fund and source to promote business as brand awareness is
expected to required the expenses of around $1.1 million which will be get performed with the
joint venture advertisement campaign that get financed by both the companies all together (Icha
and Agwu, 2015). Hence both the companies will be numerous of benefit which in turn support
them in capturing majority of Australia's market share. But in order to developed the objectives
that are reliable and accurate as per the organisational competence and capability, objectives are
being performed by considering the following elements:
 Compatibility:- The Australian market has higher competition as the market is
expanding it is required by Haigh's chocolate to strengthen its public image to enter into

each capital city of country. Hence the objectives is compatible as with the help of joint
venture it become easier for Haigh's chocolate to enhance its brand image together with
Cocoa Delight by maintain marketing campaign effectively by putting more emphases
toward performing promotional activity by using several channels like staff uniforms,
stores, vehicles, advertising, packaging and PR articles (Lloret, 2016).
 Consistent:- The accountability measurement is crucial for the objectives with the future
direction which is extremely crucial fro attaining the success from the business. The
fundamental aim of Haigh's chocolate is to set up its around 100 stores throughout the
Australia. Therefore stronger customers base and brand awareness is crucial which
proves that objectives are consistent as joint venture and TV advertisement campaign is
mainly consider to be most appropriate factors that support in building up awareness and
positive brand image in front of customers. Despite of this joint venture will allow to
share the customer base of both the companies which also form up a benefit that
company can approach other market much quickly.
 Equipped:- The objectives are compatible with the organisational projection as it
decided an objective to enhance the market share for the machine made chocolates up to
30 % this will be achieved easily as the Haigh's chocolate currently maintain with the
15% and by entering into the joint venture they become to share one another customer,
resources as well which make it easier for them to achieve around 30% effectively.
 Legal and ethical consideration:- The objectives are formed by considering the legal
and ethical standard as it is very crucial to develop a positive brand image in front of the
customer and potential market to achieve sustainability at new market place while
maintain the existing one (Mogaji, 2016). As the priority of plan was made with the
exercising of branding that complies as per the Competition and Consumer Act 2010. in
addition to this the agreement with Cocoa delight is also formulated legally along with
covering the Haigh's chocolate veto right that ensure all the marketing activities get
performed with the clear explanation of ethical and legislative compliant way. Despite of
this, in order to make the employees connected with the organisational goal it is decided
that Haigh's chocolate and Cocoa delight will implement anti-discrimination laws such
as Age Discrimination Act 2004, Disability Discrimination Act 1992, Racial
Discrimination Act 1975, Sex Discrimination Act 1984 in its operations which ensure

ethical practices at workplace where employees get equal opportunity. In addition this it
also implement Privacy Act 1988, which ensures employees as well as customers that
their confidential information will be kept private and won't be shared or misused by the
company. Despite of this, this joint venture also implement the Free TV Australia
Commercial Television Industry Code of Practice which help the community in
ensuring about providing the right program classification, accuracy, respect and fairness
regarding privacy of current affairs and news and advertising time on television. Apart
from this it also implement the Sweepstake Law which ensure that no fake marketing
promotion mis-lead the customers or views by faking up the news for attracting them.
Performance measurement:-
In order to ensure the success of the marketing and expansion plan which is formulated
by the Haigh's chocolate with the help of performing joint venture performed along with the
Cocoa delight, it is crucial; for them to perform the performance evaluation over the particular
time period. This performance evaluation will be performed with the help of Key Performance
Indicator (KPI). It is basically considered as the performance measurement tool used fro an
organisation which help in determine the level of success that an organisation achieve after
implementing a particular a strategy over a particular time period (Mu, 2015). In this the Cocoa
Chocolate as well as Haigh's chocolate can assess the rate of sale against the predetermined
target as well as objectives. The rate of brand awareness that Haigh's chocolate get within a
particular period of time along with the market share of 30% for the machine made chocolate
will act as a Key performance Indicator for the Haigh's chocolate. In this the estimated rate of
awareness as well as sale of chocolate will be compared with the actual result that get after a year
will support in determining whether the strategical actions that are taken into consideration are
proves to be helpful fro the business or not.
Risk management Strategy
Risk management is refers to as the process of determining and evaluating the risk that
are involve within the undertaken actions in order to determine the potential risk that may be face
by the company and ways to overcome such challenges in order to maintain the consistency of
the business. There are number of challenges that Haigh's chocolate and Cocoa delights joint
venture may face such as legal issue, inappropriate employees performance, lack of capital. In
order to overcome this challenges Haigh's chocolate must focuses toward forming up the

agreement with the legal document which support them, in avoiding nay sort of legal issue that
may affect their goodwill. In addition to this for overcoming the financial issues both the
company must kept the finance reserve from both the side which is gathered from the profit of
joint venture operations so that it can be used at the time of con6tingency (Najafi-Tavani, Sharifi
and Najafi-Tavani, 2016). Despite of this employees are also being provided with the training
and development program so that adequate amount of capability can be developed among them
to meet with the standard of performance.
CONCLUSION
From the above mentioned report it can be summarised that marketing objectives plays a
crucial role in providing direction to the organisation for performing operation in certain
direction. This support organisation in presenting the pathway which it can adopt to perform set
of action but it must be regularly determine with the help of Key Performance Indicator tool
which help in determining the gap between performance so that it become easier to identify the
reliability of objectives.

REFERENCES
Books & Journals
Castaño, M.S., Méndez, M.T. and Galindo, M.Á., 2015. The effect of social, cultural, and
economic factors on entrepreneurship. Journal of Business Research. 68(7). pp.1496-
1500.
Crane, A and et.al., 2019. Business ethics: Managing corporate citizenship and sustainability in
the age of globalization. Oxford University Press.
Gürel, E. and Tat, M., 2017. SWOT analysis: A theoretical review. Journal of International
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Lloret, A., 2016. Modeling corporate sustainability strategy. Journal of Business Research.
69(2). pp.418-425.
Mogaji, E., 2016. Marketing strategies of United Kingdom universities during clearing and
adjustment. International Journal of Educational Management. 30(4). pp.493-504.
Mu, J., 2015. Marketing capability, organizational adaptation and new product development
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Najafi-Tavani, S., Sharifi, H. and Najafi-Tavani, Z., 2016. Market orientation, marketing
capability, and new product performance: The moderating role of absorptive capacity.
Journal of Business Research. 69(11). pp.5059-5064.