Marketing Plan for Chocolittle's Coco Chip Biscuits

This marketing plan outlines strategies for launching Chocolittle's new product, Coco Chip Biscuits, and generating profit. It includes STP analysis, PESTLE analysis, SWOT analysis, marketing mix, budget, investment technique, and monitoring and controlling.

Marketing

Table of Contents
INTRODUCTION ..........................................................................................................................3
Executive Summary.....................................................................................................................3
Objectives....................................................................................................................................3
STP analysis.................................................................................................................................3
PESTLE Analysis........................................................................................................................4
SWOT Analysis...........................................................................................................................5
Marketing Mix.............................................................................................................................6
Budget..........................................................................................................................................6
Investment Technique..................................................................................................................7
Monitoring and controlling..........................................................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Business actions taken for promotion and sales of products and services is called
marketing. Marketing plan is the outlining of the strategy for a new product or period. The main
aim of this project is to build a marketing plan for launching a new snack for a new company
known as Chocolittle. With analysation of different elements of marketing plan this project will
be suggesting strategies for generating profit for Chocolittle with the help of new product.
Executive Summary
Chocolittle is a new company which is going to set up its business starting with new
product. In this project the chosen product launched by Chocolittle is Coco Chip Biscuits. This
idea is will be successful because Coco Chip Biscuits are generally loved with coffee, and many
customers over the years have shown interest in this kind of snack. The idea will be to identify
the customers segments and way of making profit with this product by the help of Marketing
Plan. As a new company this company will be facing special challenges as it is entering the
market with a new competitive product of its own.
Objectives
The market situation for this product is very positive as there is only one dominant
producer of such type of biscuits. Hide and Seek biscuits of the company Parle will be the
biggest competitor of this product. The best way of creating profit for this product would be
selling it below the price of the competitors. Aim of the company should be out match the quality
of the product of the competitors.
STP analysis
Segmentation :
The market segmentation of this product can be done according to the customers which
show demand for coco chip biscuits. Age plays an important role in segmentation for the

customers prefer this product. As this is mostly very popular biscuit among the kids but also is
favourite of some adults. This product is not too expensive thus will be affordable for most of the
customer with average income status (Morah, 2019).
Targetting :
The main target of customers for this product will be kids, and also those adults which
have been favouring this type of biscuits over other. Chocolittle can also target the customers
which buy coffee products as these biscuits have been seen loved by most coffee consumers.
Chocolittle can also provide this product as free samples with its large coffee packets. This will
be a great introduction and will also give the company a fair idea about the targets.
Positioning :
The process of positioning of this product will be to identify the right market in which it
should be introduced. The company can introduce this product where it supports product coffee
has good reputation and the products of Coco Chip Biscuits are favoured by customers.
PESTLE Analysis
Political :
Political factors lays an important role as it affects food industry market and long term
profitability. Health policies of the country will require assurance of healthy food from
Chocolittle. Its target market will be low and medium class families and Chocolittle can provide
them products at such affordable price which will attract more customers.
Economical :
Chocolittle's industry may get affected by various elements such as saving rate, inflation
rate, interest rate, foreign currency exchange rate and different countries economic cycle. Factors
Chocolittle should consider before launching a new product are education level in the economy,
labour cost and productivity in the economy, economic growth rate etc (Bitskinashvili, and
et.al.,, 2019).
Social:
Society will play an important role in Chocolittle snack food operation because it
determines the popularity of the product. Social factors that Chocolittle should analyse before
launching new product are the preferences of the society, social acceptance of the product and
also lifestyle of the customers.
Technological :

Technology is important for packaging, production and advertisement for the new
product of Chocolittle. It will help Chocolittle's industry to attract new customers by easy
methods. Difficulties arise in this factor if the market does not have the required technologies
for advertisement (Bitskinashvili, and et.al.,, 2019)
Legal :
Chocolittle may get effected by various factors such as discrimination laws, copyright,
patents anti-trust law, employment law, health and safety law and data protection for the
introduction of the new product and entering a new market.
Environmental :
Different environment provides new opportunities in different markets to the company. It
will help Chocolittle industry to raise its profit in new markets. Different environmental factors
which Chocolittle must consider before entering the new market are weather, recycling, waste
management, pollution etc.
SWOT Analysis
Strength:
Chocolittle's new products are going to be easily recognized by the consumer. The
introduction of the new product will be a great success because it will attract new customers.
This will help the new company make profit out of the new product. Yet another strength for
Chocolittle would be that the new product which is looking forward to launch would be a
supporting of an existing world renowned product called coffee (Foti, Scuderi and Bellia, 2019).
Weakness :
One of the biggest weakness of the introduction of this new product would be that it
already has a dominant competitor. Hide and Seek biscuits of the company Parle will be the
biggest competitor of this product. This company has already proven itself very successful in the
business of this product. Thus, it will be challenge for Chocolittle to beat the quality of its
product.
Opportunity :
The snack food retail industry is opportunity for Chocolittle to grow in market. The best
way to do this would be launch this product and compete with the best competitors of coco chip
biscuits. This opportunity will help company to grow their business increase the profit for
achieving its objectives and goals.

Threats :
The Biggest threat to this new product is that it already has a dominant competitor. Hide
and Seek biscuits of the company Parle will be the biggest competitor of this product. This is a
threat because it means the company has a milestone to reach for achieving success.
Marketing Mix
Marketing mix consists of 4P's which are explained as follows,
Product :
Product that is going to be launched by Chocolittle is Coco Chip Biscuits. These are
biscuits which are like normal baked chocolate biscuits with coco chip in them. This idea of
product will be successful because Chocolittle's product is the supporting product for coffee and
generally customer which love coffee has shown interest in this kind of snack (Davidson, 2018).
Price :
The price of this product should be limited and should not exceed the prices of the
competitors of this type of biscuits. The aim of the company should be maximizing the sale of
the product so that even will less margin profit can be made (Wu and Li, 2018)
Place :
Chocolittle should introduce this product in such markets where the product already has
good reputation and the products of Chocolittle are favoured by customers. This way the
company would not have to spend too much over advertisement and success will be easier to
reach.
People :
Age plays an important role in determining the customers of this product. As this is
mostly very popular biscuit among the kids and also is favourite of some adults. This gives the
company opportunities to add attractive design on the packaging or provide free toys with the
biscuit packages for promotion.
Budget
The Budget for the new product of coco chip biscuit can be explained by the following
table. This table shows what will be the expenses in production and marketing of the new
launched product considering the overall budget of $75000 .
Particulars Amount($)

Labour Cost 10000
Raw Materials 30000
Marketing 15000
Depreciation of Assets/Machinery 20000
Total 75000
Investment Technique
Investment technique of this Chocolittle's new product would be to prioritize the quality
of the product at first. Then the company should think of investing the marketing activities like
advertisement, packaging, and also free samples with existing product with high sale.
Monitoring and controlling
For ensuring effectiveness of marketing functions and plan it is important to monitor
them. There are several tools and activities by which effectiveness of marketing plan can be
measured.
Website traffic: For measuring effectiveness of marketing and making sure that whether
customers are satisfied with the new product or not, traffic on website can be evaluated (De
Pelsmacker, Van Tilburg and Holthof, 2018). By evaluating it and knowing the numbers of
visitors of website, effectiveness of marketing can be known.
Form conversion rate: There is difference in numbers of visitors on website and conversion. It
is not necessary that visitors who visit site will buy products. So, by knowing conversion rate of
customers, company can know its effectiveness of marketing plan. Accordingly, it can make
changes in some areas of marketing plan and can attract as well as retain customers to the great
extent.
CONCLUSION
With the help of above study of the new product it can be concluded that development
plays a vital role as it can help Chocolittle in attracting new customers. It has also shown
effectiveness of marketing functions as how it can help companies in increasing sales and

customers’ retention rate. It has further discussed effectiveness of marketing mix and it’s all
elements such as products, price, place and promotion. Promotion is known as the main key of
success of marketing. It has been summarized that promotional channels and activities can help
companies in attracting global customers, increasing customers’ expectations and competitive
advantages.

REFERENCES
Books and Journals
Bitskinashvili, K., and et.al.,, 2019. Influence of heat processing on DNA degradation and PCR-
based detection of wild-type and transgenic maize. Journal of Food Quality, 2019.
De Pelsmacker, P., Van Tilburg, S. and Holthof, C., 2018. Digital marketing strategies, online
reviews and hotel performance. International Journal of Hospitality Management. 72.
pp.47-55.
Morah, E.I.M., 2019. BUSINESS-TO-BUSINESS (B2B) MARKETING. Contemporary Issues
in Marketing: Principles and Practice, p.280.
Wu, Y.L. and Li, E.Y., 2018. Marketing mix, customer value, and customer loyalty in social
commerce: A stimulus-organism-response perspective. Internet Research.
Foti, V.T., Scuderi, A. and Bellia, C., 2019. ACTUALITY AND FUTURE PROSPECTS OF
CANNABIS SATIVA L. CROPS. FEATURES AND PROBLEMS. Quality-Access
to Success, 20.
Davidson, I., 2018. Biscuit, cookie and cracker production: process, production and packaging
equipment. Academic Press.