Marketing Strategy and Plan: A Case Study of Mars Chocolate Brand

MARKETING STRATEGY AND PLAN: A CASE STUDY OF MARS CHOCOLATE BRAND
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EXECUTIVE SUMMARY
This report intends to suggest a detailed marketing plan for the enterprise Mars and
especially the chocolate bars offered by it. The report firstly offers an overview of the
business activities of the concerned enterprise and also undertakes a situational analysis of
the enterprise. The results of the situational analysis reveal that high competition and lack of
brand awareness are two of the major issues that the concerned enterprise and its chocolate
bars face in Singapore. Thus, enhancement of brand awareness and product diversification
had been taken as two marketing objectives for the attainment of these two objectives the
usage of the product diversification strategy and digital marketing strategies have been
suggested. Furthermore, the report also proposes detailed tactics that the enterprise needs
to follow through the usage of the tool of “7P’s of Marketing”. Lastly, the report concludes by
outlining the action and control measures that the enterprise needs to use for the attainment
of the marketing objectives.

Table of Contents
Introduction............................................................................................................................ 4
Overview of the business activities of Mars Chocolate Brand................................................4
Situational Analysis................................................................................................................5
Market Analysis..................................................................................................................5
Competitor Analysis............................................................................................................ 6
Company Analysis.............................................................................................................. 8
Segmentation, Targeting and Positioning of Mars Chocolate..........................................8
Marketing Objectives.............................................................................................................. 8
Marketing Strategies for the achievement of Marketing Objectives........................................9
Ansoff Matrix: Diversification...............................................................................................9
Digital Marketing Strategies..............................................................................................10
Implementation Plan............................................................................................................. 10
7P’s of Marketing.............................................................................................................. 10
Action..................................................................................................................................... 1
Control.................................................................................................................................... 1
Conclusion and Recommendations........................................................................................2
References............................................................................................................................. 3

Introduction
As opined by Baker (2016), the process of marketing management had gained a
substantial amount of prominence within the spectrum of the modern-day business world on
the score of the fierce rivalry or the competition that the business enterprises face. Bagozzi
et al. (2018) are of the viewpoint that the process of marketing management not only helps
the business enterprises to formulate effective marketing plans which are likely to help them
to market or promote their services or goods in an adequate manner but also to
implemented them as well. More importantly, the marketing plans that the business
enterprises formulate or design should take into account the requirements of the business
environment, the demands of the market, the kind of business competition that the
enterprises are facing and others (Baker and Saren 2016). In this regard, the idea that the
marketing plans or the strategies used by the business enterprises should focus on the
maximisation of the benefits from the opportunities offered by the business market and
mitigate the adverse effects of the threats offered by the same. This report intends to
formulate a marketing report for Mars Chocolate on the basis of the results of the situational
analysis of the same brand.
Overview of the business activities of Mars Chocolate Brand
The enterprise Mars founded by Forrest Mars in 1932 and headquartered in Slough,
England, is one of the leading chocolate manufacturing brands of the world
(Marschocolate.com 2019). As a matter of fact, it is seen that the concerned enterprise is
known for the high quality of the chocolate bars that it offers to the customers and this in turn
had enabled the enterprise under discussion here to gain a substantial amount of success
over the years (Washingtonpost.com 2019). More importantly, over the years it had been
seen that the concerned enterprise had focused only two varieties of chocolate bars which
consist of “caramel and nougat coated with milk chocolate” and is often considered to be a
replica of the Milky Bars which are sold in the nation of USA (Marschocolate.com 2019).
However, in the recent times it had been seen that the concerned enterprise taking the help
of the strategy of product diversification had substantially enhanced its product portfolio and
presently offers different varieties of chocolate bars like Mars Almonds, Mars Dark and Light,
Mars Gold, Mars Mini Eggs and others (Washingtonpost.com 2019). Furthermore, the
enterprise under discussion here taking the help of the process of globalisation had
expanded its business in the different nations of the world like Canada, USA, Australia, New
Zealand and others (Marschocolate.com 2019).