Marketing Mix Analysis

Running Head: MANAGEMENT 0
MARKETING MIX ANALYSIS

MANAGEMENT 1
Table of Contents
Introduction................................................................................................................................2
Product Strategy.........................................................................................................................3
Pricing Strategy..........................................................................................................................8
Promotion Strategy.....................................................................................................................9
Conclusion and Recommendations..........................................................................................11
References................................................................................................................................13

MANAGEMENT 2
Introduction
The Rocky Mountain Chocolate Factory (RMCF) was founded in 1981 and in the first
year itself, the company had opened its first franchise. At present, the company is an
international confectionery manufacturer having its stores in Canada, United States, Panama,
Philippines and South Korea (Raynor & Ahmed, 2013). The company headquartered is
situated in Colorado, US. The company has a big 53,000 square food factory that
manufacturer wide-ranging line of quality chocolates and other confectionery products that
are being supplied to various franchisee stores with the help of their refrigerated trucks. The
company have master candy makers who undertake exclusive recipes and thus typically
develops 300 chocolate candies and various confectionery products such as creams, clusters
and truffles. However, on special occasions such as Christmas, Easter and Valentine Day,
their product line generally increases by around 100 products.
The company started trading on the NASDAQ in 1985 when the company went
public. In 2019, the company earned a revenue of approximately 34.55M and it is also
reported a 9.3 per cent decrease in revenue in FY 2019 as compared to the last year. Rocky
Mountain operates in a stable confectionary industry where 50% of their products sold at the
stores are produces on premises and their Colorado factory manufactured 45% of their
saleable products and leftover five per cent (5%) being obtained from third-party suppliers
(Mull, Takano & Owings, 2014).
This report outlines marketing mix of Rocky Mountain Chocolate Factory
confectionary products line in relation to the 4 Ps. These four P’s include product, price,
place and promotion. Here, product will be the company chocolate candy and other
confectionary products, price reflects the cost of different products in the market against their
competition and promotion implies how the company undertake its marketing communication
activities.

MANAGEMENT 3
Product Strategy
Rocky Mountain Chocolate Factory (RMCF) being a franchised business, the
company is manufacturing premium quality chocolate candy, which is considered as the core
of its competitive advantage. The company competes favorably with its competitors by
offering more than 300 delicious candies. These candies and other products are being offered
in smaller sizes boxes and usually available with their distributors. In addition, this ensures
that the customer gets perfect size as per the requirements in respect with added convenience
such as presenting box design with a decorative ribbon.
The company maintains the gourmet taste and quality of their products by using
significant wholesome ingredients in their finest chocolate (Chirico, Ireland & Sirmon, 2011).
In addition, nearly 52% of the products sold at Rocky Mountain Chocolate Factory stores are
built on the premises because the company believes that in-store products create a special
store ambience facilitate in develop quality products (annualreports.com, 2018). As company
have their own proprietary recipes including many packages candies during special occasions
and holiday season. The company individual also includes gourmet caramel apples and
premium fudges. As of March 2018, the company owned four stores, 87 licensed owned and
more than 200 franchised stores in 38 states.