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Donald B Marketing Strategy

   

Added on  2021-06-17

16 Pages4219 Words394 Views
Running head: DONALD B MARKETING STRATEGY Marketing 301: Marketing Strategy Report for Donald BStudent’s nameName of the Institute

DONALD B MARKETING STRATEGY Table of ContentsIntroduction................................................................................................................................................3Marketing Strategy...................................................................................................................................3Target Market................................................................................................................................................3Positioning Approach..................................................................................................................................4Application of marketing mix of consumer behaviour.................................................................5Ideas for products and services................................................................................................................5Different levels of products.......................................................................................................................6Pricing strategy.............................................................................................................................................7Distribution strategies................................................................................................................................8Promotion strategies...................................................................................................................................9Extended marketing mix..........................................................................................................................10Role of marketing in embedding principles of sustainability, ethics and social justice11Conclusion.................................................................................................................................................13References.................................................................................................................................................14

DONALD B MARKETING STRATEGY IntroductionThe objective of this report is to discuss the marketing strategy of Donald B, which is a new entrant in Australian chocolate industry. This player has two stores situated in Melbourne. The company wants to improve its brand awareness and its penetration in the Australian market. The report would discuss the marketing mix for the company and would analyze the role of marketing for sustainable business operations. It is expected that this report would help the management of Donald B to penetrate in Australian market and achieve its business objectives. Marketing Strategy A good marketing strategy is one that follows the business strategy of organization (Schmidt, Spann & Zeithammer, 2014). It is important that marketing function of Donald B should support the business objectives, mission and vision of the organization. The various elements of marketing strategy for Donald B can be discussed as:Target MarketIn Australia, the chocolate market is segmented into different categories including the trends of the industry. However, the market is segmented by its type, age group, category, end user and the distribution channel. The key target market for Donald B is all the consumers who like chocolate in Australia. However, the chocolate market in Australia is a large market and the segmentation variables like demographics, behavioural, intent, income variables, etc. can be usedto create focused target market (Tudor & Negricea, 2012). The different elements of target market for Donald B can be discussed as:

DONALD B MARKETING STRATEGY i.Geography: Melbourne (to start with and then gradually increase to different parts of the country)ii.Demographics: Male & Female, 14 to 34 years iii.Income level: Medium and High-income group as Donald B will charge premium for its quality products iv.Behavioural: People who likes chocolates and enjoys chocolates The above variables of target market would help Donald B to have a focused approach while reaching out to its target market. With the above variables, the company can have specific marketing campaign to reach out to its target audience (Schmidt, Spann & Zeithammer, 2014). Positioning ApproachOnce the target market is established, the next step is the positioning. It is important that brands should have strong positioning in place so that end-consumers can relate to the brand. Thepositioning of Donald B is to operate as a high-quality product that provides nice taste to consumers. The company is not a mass market player and it operates in a niche market. With thispositioning, Donald B does not want to target all the audiences in the market (Schmidt, Spann & Zeithammer, 2014). It wants to be selective in its approach wherein it can target the people who prefers good taste in chocolate and are willing to pay the premium for good taste. This positioning approach appears to be best option for Donald B as the market is not saturated and there is a place for new players to enter the market and capture the market share. With this positioning approach, Donald B should be able to establish a set of loyal customer base that would help the company to grow further.

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