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Paper on Aspects of the Branding
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Added on 2019-10-12
Paper on Aspects of the Branding
Added on 2019-10-12
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Coursework Header SheetCourseBUSI 1319 Consultancy ProjectCourse School/LevelB/UGCourseworkReportAssessment Weight65%TutorDr David ChuSubmission Deadline13 Apr 2017Student ID000948206Coursework is receipted on the understanding that it is the student's own work and that it has not, in wholeor part, been presented elsewhere for assessment. Where material has been used from other sources it hasbeen properly acknowledged in accordance with the University's Regulations regarding Cheating andPlagiarism.Tutor's commentsGrade Awarded___________For Office Use Only__________Final Grade_________Moderation required: yes/noTutor______________________Date _______________
Research Project ReportGodiva
Table of ContentsAbstract..........................................................................................................................................2Introduction....................................................................................................................................3Research Aim...............................................................................................................................4Research Objectives.....................................................................................................................4Research Questions......................................................................................................................5Literature Review..........................................................................................................................5Methodology.................................................................................................................................10Philosophies...............................................................................................................................10Strategy......................................................................................................................................11Design........................................................................................................................................12Implementation..........................................................................................................................12Research Design...........................................................................................................................13Market Industry analysis............................................................................................................14Product policy............................................................................................................................14Marketing Strategy: 4 Ps of Marketing Strategy.....................................................................15Positioning, Targeting and Segmentation..................................................................................16Data Collection and Analysis......................................................................................................17SWOT Analysis.........................................................................................................................17Survey Analysis.........................................................................................................................20Analysis, Results and Discussion of Survey..............................................................................29Conclusions and Recommendations...........................................................................................30Reflective Report.........................................................................................................................31REFERENCES............................................................................................................................32APPENDICES..............................................................................................................................33
AbstractGodiva 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. The descriptive research design wasused for collecting the necessary information from the market and then analyzed the informationbased on the market aspect. Further, the descriptive research design will help in making a long-term analysis for the company.The paper will study the various aspects of the branding like communication strategies,innovative ad campaigns, brand repositioning, establishing an emotional connect withconsumers, rebranding etc. This paper will determine the current marketing strategy and salesgrowth and the impact of market segmentation and strategies on the market and salesperformance of the company. IntroductionGodiva 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.The leading 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. The Asian have a clear preference for dark
chocolates due to its bitter taste. Due to the huge production of chocolates in Hong Kong, thechocolate has always been on the shopping list of the tourists coming to Hong Kong.The following project has been developed for analyzing the market position and salesdevelopment of the company and the various factors behind the success of the company. Theresearch work will be presented as the guidance to the researcher in knowing the importance ofanalysis of the market development and sales development of a company. For this purpose, thefamous company, Godiva, Hong Kong has been taken into consideration implying the chocolateindustry. According 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.Research AimThe particular study has been focusing on the analysis of the market position and salesdevelopment of the company. The aim of the research is to analyze the Hong Kong market ofGodiva and find the size of the retail network of Godiva. The customer responses towardsGodiva would be asked so as to go through the interest of purchasing and using of Godivaproducts. Therefore, the demand of the products would be analyzed in this project so as toaccomplish the business objectives and sales development of the company.It will help to throw light on the deep analysis of the market position of the company and thevarious factors responsible for it. The researcher has opted for the Godiva, Hong Kong as thecase study is based on the market position and sales development of a famous and knowncompany. With the assistance of various models and theories and the financial growth of thecompany, the researcher will attempt towards explaining the market position of the company.
Research ObjectivesIn light of the research aim, the research objectives were carried out in rode to help in a betterexplanation of the research topic which is chosen for this particular study. The research objectiveis to determine the current marketing strategy and sales growth and the impact of marketsegmentation and strategies on the market and sales performance of the company. Research QuestionsThe research questions are beneficial in analyzing the topics which are helpful in assisting theunderstanding of the topic in a proper and detailed manner. The research questions would behelpful in highlighting the selected topic for the research work in order to gain significantknowledge regarding the research study. The research questions have been listed below:1.What is the current marketing strategy and sales growth of the company?2.What are the strengths of the company as compared to its rivals?3.What are the strategies that can be employed by the company for advancing the salesvolume of the company?Literature Review After having a detailed study regarding the principles of management of marketing, the behaviorof consumer purchasing and other attributes of the concept of marketing mix like product andplace strategy can be well aligned with the pricing an promotion strategy and the brand loyaltyconcept with all significant attributes of the best brand. Instead of the detailed research ofdifferent papers of research, the articles are also used to understand the practical implementationof this concept.Consumer also learn about the chocolates from various other sources which are mainly from thefamilies and friends either from their personal experience or through advertisement. Whether anadvertising or a promotion help or hurt a brand and its image is under consideration. In longterms, the advertisement aids a brand by building more loyalty and sensitivity regarding price inthe consumers regarding their purchase behavior. The decision regarding a purchase which
pertains to a specific brand as well as loyalty of the outcome of various characteristics of aproduct must be taken. (Mela, et al., 1997). Advertisers and promoters must always rememberthat messages of advertisements are interpreted variously between various genders (Hogg, et al,2003). The research states that women are able to pay more attention on the characteristics ordetails of a particular advertisement when they are asked to assess the messages in theadvertisement. Studies which are conducted previously have given significant proof regardingthe females who are more easily engaged in the elaboration instead of men. (Maldonando, et al.,2003). As per (Gwin, et al., 2003), the females usually have high tendency to take intoconsideration the information which is external and related to any other person. Women areconsidered as aggregated processors who may put in efforts to collect all the information whichis available regarding the advertisement of a product which can alter the perception of aconsumer in terms of a product and its content regarding attributes and the proportion and mayalso influence the taste of a consumer for the attributes. The intake of food was supposed andpredicted by a food record of 3 Day. 13% of men and 28% of women were selected for the studywho was craving for the food. Out of those cravers, women were more concerned frequentlyregarding their weight instead of men. The intake of energy was more in the cravers at the timeof snacks. Below 40% of the cravers were reported to be hungry ta the time when they sufferedfrom serious hunger and craving. The female category of cravers got engrossed in the cravings insimilar manner like men. They were reported to be experiencing the negative feeling frequentlyunlike the male category who felt the positive feelings more frequently. The outcome of thestudy reveals that the episode of food craving is associated strongly with the mood in variousways in men and women.As per a research by Flanders Trade and investment, the maximum number of brands whichleading in the world market of chocolates are found in the market of Hong Kong. There exists anarray of brand in each of the supermarket of Hong Kong. The consumption of Chocolatedifferentiates in every country. Asians usually consume very les products of sugar likechocolates if compared with their counterparts in Europe. As per the preference, the customers inAsia prefer and like dark chocolates due to its taste which is bitter. Presenting of gifts is thetradition in Asia, especially during the visits and while meeting the relatives and friends duringthe periods of festivals. New Year in China is the busiest time to present the beverages and food
gifts. Bringing the gifts home for the families and friends after travelling is a strong habit inHong Kong and the most top product in the list of shopping is chocolate in the Hong Kong. Theproduct attribute and brand preference are the features or characteristics which a product may notor may include both the extrinsic and intrinsic features. Understanding customer’s preference forchoosing a specific product on the basis of the characteristics and attributes aid the marketers toget to know clearly the reason behind the preference of a customer for a specific product. Bothintangible and tangible characteristics of a product are significant equally to choose either abrand or a product. It is not proven completely that few of the attributes and characteristics aremore linked to the loyalty of the customers than the others. A researcher has suggested that themarketers must more concentrate on the number of attributes with which the brands must beassociated and not the kind of attributes. For the products of low investment, the customers havemore objective vision of the characteristics of the attributes like cosmetics or food as they beingpromoted and advertised constantly. Price is considered as any other form of the attribute whichis used by the customer for the evaluation of the product. The price is considered as an indicatorand pointer of quality with high prices which indicates high quality. It is a perception ofconsumer that a high price may be attributed towards high control of quality cost. Some of theconsumers are highly sensitive towards the price like elasticity in demand, whereas the high costmay also shift the consumers towards the competitive brands. Thus the prices may have negativeor positive influence on the consumers. Various sources are available in journals, magazines, newspapers and articles etc. Firstly, thechocolate offers benefits from different facets like dark chocolates, psychology and physical aswell as mental aspects and it is also the most helpful and healthy chocolate as compared to anyother type or variant of chocolate. In chemical terms, an Anandamide which is cannabinoid andendogenous in nature is included in the Chocolate and is present in brain. Antioxidants fightagainst the cancer and also prevent the disease of heart and flavonoid are said to lower the badcholesterol and raise the good cholesterol. Consequently, the stroke, deep vein thrombosis andheart disease risk can be easily reduced by intake of chocolate. More than that, chocolate consistof low index of glycemic. Therefore it keeps the level of blood glucose stable relatively. Aresearcher in Salk Institute have identified in the primary evidence that flow of blood in the brainis improved by dark chocolate and may also to sharp and improved memory consequently. The
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