BUSINESS OPPORTUNITY ANALYSIS1 Executive Summary In recent times, Toblerone is making investment at large for audience to know its brand globally with the availability of potential marketing opportunities. The company use its capabilities and resources in the business to form its structure with better understanding and analysing the current situation internally and externally of product line within the environment. There is increase of competitiveness in the industry along with knowing its situation to estimate the growth and success of the brand across the globe. The company decided to increase the investment for way better distribution and increasing its supply in the markets globally knowing the strengths and opportunities of the brand within the business while analysing the opportunities overall. Lastly, it is essential to increase the market size of the company across the globe for success through better marketing plan.
BUSINESS OPPORTUNITY ANALYSIS2 Contents Introduction................................................................................................................................3 Company Structure, Capabilities and Resources.......................................................................3 Products, Markets, Distribution and Supply..............................................................................4 Competitive Environment and Industry Situation......................................................................5 SWOT........................................................................................................................................6 Conclusion..................................................................................................................................7 References..................................................................................................................................8
BUSINESS OPPORTUNITY ANALYSIS3 Introduction In today’s competitive business world, working on plan is important to devote while identifying opportunities in future for the company. The development a long-term strategy is a key for the company as there is nothing without planning because it will only provide short- term success(Gallo, Antolin-Lopez, & Montiel, 2018). Across the globe, analysing opportunity in the markets is taken into consideration including available technology, financial capabilities and competitive readiness within the company to take action.It requires discovering unmet customer needs, identification of new target markets, and realization of competitive advantages. Furthermore, it is essential to meet customer needs due to the increase level of competition within the environment(Ramli, 2017).This report will cover the discussion on a business for identifying the availability of potential marketing opportunities globally in respect to product line. It will analyse the current and external situation of the chosen product line required to be explored by the business within the company’s marketing plan. Company Structure, Capabilities and Resources Toblerone is chosen as a business with its product line of chocolates defining as the most famous ‘Swiss’ chocolate bars originated from “Tobler” as a family name combined with “torrone” which is the Italian word for nougat. The company’s structure defines these chocolate products shaped in triangle with excellence inspired from the distinctive Matterhorn Mountain(Brown & Wijland, 2018).Moreover, it has become a byword, dubbing structures across the globe. Toblerone is for reawakening the taste buds immersing with its unique taste experience combining almond nougat, finest Swiss milk chocolate and honey. This maintains its classic shape and taste where the company innovate and explores its new tastes continuously while enjoying dark chocolate, white chocolate and crispy coconut flavours as well(Neilson, Pritchard, Fold, & Dwiartama, 2018).Thus, the product line of Toblerone chocolate bars consists of Toblerone milk, Toblerone fruit and nut, Toblerone dark, Toblerone white, and Toblerone tiny. While the company concerned about the marketing plan used for leveraging action plan and marketing strategy, it is essential to work on the business’s opportunity analysis. It requires identifying the potential marketing opportunities available globally while analysing
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BUSINESS OPPORTUNITY ANALYSIS4 the product line’s current external and internal situation for successful implementation of its marketing plan. Toblerone brand maker owned by Mondelez launched a business unit to aim at future development in terms of snacking for knowing its capabilities and resources to succeed in future(Donnelly, 2018).The company needs to foster entrepreneurial and innovative spirit based on providing consumer access and channel insights along with marketing and procurement resources for accelerating growth. Toblerone chocolate is led by the Mondelez International Inc. in future of snacking being an iconic brand locally and globally(Mowbray, 2018). Products, Markets, Distribution and Supply Toblerone is mainly concerned with the geographical and confectionery market can be seen as biggest company is USA and second largest across the globe after Nestle. The business is expanded with over 147,000 employees mainly operating in the segments of North America, Europe and the developing market. The trade environment of the company consists of trade relations, labelling requirements, and tax and duties(Monteiro, Correia, & Braga, 2019). Based on approaching with global markets,it is essential for the company to aim at increasing brand awareness and creating a foundation with potential marketing opportunities to compete in a market against competitors for maintaining its growth and long- term success globally. Toblerone brand is under the Kraft foods where there is continuous boost of consumer interest along with launching distinct versions of iconic chocolate bar for potential opportunities within the market which supports in launching the marketing campaign(Bekh, 2016).It is essential to have significant opportunities for accelerating growth of business by utilization of unique capabilities of Toblerone. The company’s desire is to make investment in innovation driving consumer engagement and deeper strategic retail partnerships. The distribution and supply of Toblerone products is based on prohibiting many thing in Spain at the time of importing, the tariff system, and importing them into Spain from Switzerland. The products are diversified mainly on duty-free shops with large distribution if compared with competitors while Kraft making investment in Toblerone(Sharma & Muralidharan, 2016). It has limited confectionery ranger comparatively which does not allow striking better deal on distribution simply.Thus, the company requires investment at large to increase distribution and supply as well while improving sales and making money without any effort along with increase of potential global marketing opportunities available to business. Toblerone being a brand has a huge potential
BUSINESS OPPORTUNITY ANALYSIS5 with massive trust and awareness but it is essential for the business to adapt a global marketing opportunity by increasing its market size to target large number of audience as the brand is not known globally due to lack of promotion(Chamat, 2015). Competitive Environment and Industry Situation Toblerone made its promotion last in 2007 and there is no essence of its activities in recent times where it is hard for people to know about the brand. It is essential for making potential marketing opportunities available globally by increasing its market size through the company’s capabilities and resources used in marketing plan for reaching at a global level in future(Amos, 2012).Toblerone is unique due to its triangular shape based on the shape of mountain which is the business’s one of the marketing approaches. Another approach defines the distinct flavours and tastes provided by Toblerone showing its choice of brand personality. The personality brand of Toblerone is Explorer where customers feel free and can make their choices among the product line provided to them(CP, 2019).It provides an opportunity of preferring their way of chocolate and its taste. The customers targeting by the company in such a competitive environment is people who are shopping-oriented mainly that provides Toblerone as a gift to their family members, relatives, neighbours or children as a unique present. In the market, Toblerone is highly competitive as a chocolate bar even after the presence of rivals when compared consisting high promotional activities for the availability of potential opportunities in the market globally along with the competitive advantage(Perch, 2019). Industry growth of the chocolate is based on the changing lifestyle,increasing disposable income, gifting chocolates rising trend, and surge in the dark chocolates sales to drive as expected. It requires Toblerone to improve its marketing plan through increasing promotional activities while expanding its market size based on the taste and preferences of the consumers along with increasing the investment for better future across the global with availability of opportunities(Business Wire, 2014). Thus, in the business, Toblerone also faced the challenges within the market trend view to make sure the Switzerland’s competitive conditions internationally as a based location to produce chocolate barswhich is increasingly important. Lastly, there is increase in competitiveness at the time of business accessing export markets to increase its opportunities.
BUSINESS OPPORTUNITY ANALYSIS6 SWOT Opportunity analysis can attain success through competitive analysis, demand forecast, targeted marketing and market research where it is essential to analyse strengths, weaknesses, opportunities and threats to the business(Moodie, 2019). Strengths Toblerone key strength is its unique shape which is already competitive within the market. Its popularity across the globe where increase in promotional activities can help the company to be one of known brand both locally and globally with patenting opportunities in the market (Nieburg, 2013). It is acceptable and suitable for every kind of individuals with its strong Swiss association and good marketing. Weaknesses Toblerone chocolate bars are expensive which cannot be at nominal value for every individual. There are various controversies with the redesigning of the product line along with raw materials high cost. There is a presence of brand’s negative marketing on social media to the business due to lack of interaction with people globally through its promotional activities which is possible through increasing its market size overall. Opportunities This brand generates an opportunity of changing gifting culture globally and Toblerone are considered to be the trendy ones as positioned of gifting chocolates. The company ensures to provide healthy chocolate with being rich in antioxidants which creates a surge in demand globally. Threats The one and only major threat for Toblerone as a favourable chocolate bar within the industry and market is its competition against major rivals such as Ferrero Rocher, Lindt and Ghirardelli which might interrupt within the marketing plan to attain the potential global marketing opportunity availability of increasing its market size for product line across the globe.
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BUSINESS OPPORTUNITY ANALYSIS7 Conclusion Conclusively, analysing opportunities is essential for the company to make available the potential marketing opportunities globally while implementing the marketing plan. Toblerone is one of the best brands within the chocolate industry due to its unique shape and tastes as preferred by the customers. But, looking towards the market requires its expansion at large where not every individual is aware about it due to its lack of promotional activities. It is essential to the business for increasing its market size through analysing competitive environment and industry situation based on the company’s capabilities and resources used for development and improving through innovation in the product line to grow in future. This will happen with increase the distribution by investing highly along with knowing its strengths and opportunities for further success.
BUSINESS OPPORTUNITY ANALYSIS8 References Amos, S. (2012, July 17).Champions of Design: Toblerone.Retrieved from Campaign: https://www.campaignlive.co.uk/article/champions-design-toblerone/1141350 Bekh, K. (2016). A company’s marketing mix in terms of glocal marketing.Baltic Journal of Economic Studie, 2(5), 10-15. Brown, S., & Wijland, R. (2018). Figuratively speaking: of metaphor, simile and metonymy in marketing thought.European Journal of Marketing, 52(1-2), 328-347. Business Wire. (2014, September 29).Research and Markets: Chocolate Industry Market in India, 2014-2019.Retrieved from Business Wire: https://www.businesswire.com/news/home/20140929006331/en/Research-Markets- Chocolate-Industry-Market-India-2014-2019 Chamat, R. (2015, June 22).How has Toblerone Maintained Brand Awareness over the Decades?Retrieved from 8ways: https://www.8ways.ch/en/digital-news/how-has- toblerone-maintained-brand-awareness-over-decades CP. (2019, March 26).Swiss chocolate market grows 1% annually, despite challenging market conditions.Retrieved from Confectionery Production: https://www.confectioneryproduction.com/news/25921/swiss-chocolate-market- grows-1-annually-despite-challenging-market-conditions/ Donnelly, G. (2018, October 30).Exclusive: Mondelez to Launch New Business Aimed at Shaping the Future of Snacking.Retrieved from Fortune: https://fortune.com/2018/10/29/mondelez-snack-futures/ Gallo, P., Antolin-Lopez, R., & Montiel, I. (2018). Associative Sustainable Business Models: Cases in the bean-to-bar chocolate industry.Journal of cleaner production, 174, 905- 916. Monteiro, P., Correia, A., & Braga, V. (2019). Factors for Marketing Innovation in Portuguese Firms CIS 2014.Mathematical and Computational Applications, 24(4), 99.
BUSINESS OPPORTUNITY ANALYSIS9 Moodie, M. (2019, December 10).Mondelez World Travel Retail builds a Sense of Place with Toblerone.Retrieved from Moddie Davitt: https://www.moodiedavittreport.com/mondelez-world-travel-retail-builds-a-sense-of- place-with-toblerone/ Mowbray, S. (2018, February 27).The Story Behind Toblerone's Distinctive Pyramids. Retrieved from The Culture Trip: https://theculturetrip.com/europe/switzerland/articles/the-story-behind-toblerones- distinctive-pyramids/ Neilson, J., Pritchard, B., Fold, N., & Dwiartama, A. (2018). Lead Firms in the Cocoa– Chocolate Global Production Network: An Assessment of the Deductive Capabilities of GPN 2.0.Economic Geography, 94(4), 400-424. Nieburg, O. (2013, April 4).Cadbury India discounts Toblerone to grow premium category. Retrieved from Confectionery: https://www.confectionerynews.com/Article/2013/04/04/Cadbury-India-Toblerone- discount-premium Perch, D. (2019, November).Marketing of 10 Famous Chocolate Brands.Retrieved from The Social Grabber: https://thesocialgrabber.com/marketing-of-10-famous-chocolate- brands/ Ramli, N. (2017). A review of marketing strategies from the European chocolate industry. Journal of Global Entrepreneurship Research, 7(1), 10. Sharma, S., & Muralidharan, G. (2016). Impact of Key Drivers of Existing Brand Equity on Brand Extensions.Asian Journal of Research in Marketing, 5(2), 13-29.