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Essay on Marketing Strategy for Ferrero Group

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Added on  2020-06-04

Essay on Marketing Strategy for Ferrero Group

   Added on 2020-06-04

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Marketing Strategy forFerrero Group
Essay on Marketing Strategy for Ferrero Group_1
EXECUTIVE SUMMARYThe project summary is all about explaining marketing strategies of Ferrero chocolates. Itcovers various aspects of that can help in increasing market share and growth for the company.In order to analysis there performance Ansoff matrix and share matrix is being used. Afterevaluating there market situation various useful suggestion is made to make business moreprofitable in coming times. The need to cut down there prices of product as they are little athigher side. Because in some nation, it is difficult to grab maximum customer because they aremore prices sensitive. The overall project is delivering positive outcomes for the company.
Essay on Marketing Strategy for Ferrero Group_2
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1Environmental analysis..........................................................................................................1Current marketing strategies...................................................................................................3Ansoff matrix .........................................................................................................................4USP analysis...........................................................................................................................4Performance of the company:.................................................................................................4Analysis of competitive advantage.........................................................................................5PART 2............................................................................................................................................6Product rationale and specification........................................................................................6BCG matrix of Ferrero group.................................................................................................8STP (Segmentation, Targeting and positioning)....................................................................9Marketing objectives and goals............................................................................................11Feature and benefits of a new products: ..............................................................................12Recommendation and use of effective marketing strategies................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15
Essay on Marketing Strategy for Ferrero Group_3
INTRODUCTIONMarketing strategy is a systematic game plan through which company can introduce theirproducts in the market. The strategies of Ferrero group contains value proposition, key marketingmessages, information about target customers and other aspects. It informs the marketing planwhich is a document that lays various types and timing of market activities. In short, it is anaction plan that is designed to promote and sell products and services into various destinations.This project explains about various strategies those are used by Ferrero group in order to increasetheir productivity as well as growth (Andres Coca-Stefaniak, Parker and Rees, 2010). It consistsof marketing audit of current market strategies and position regarding their products that areavailable in the market. Evaluation of brand competitive edge with other competitors areanalysed effectively. Determination target segment, objectives and benefits of new products areexamine under this. Overall, analysis is presented by providing recommendations that can help inattaining the future profit and sustainability for company.PART 1Environmental analysisMarket is a place where there is gathering of people for the purchase and sale ofprovision and other products. The demand of customers varies according to their tastes andpreferences. In order to cope up with their particular needs, company makes well organisedstrategies according to the demand of customers. A marketing strategy grows out of Ferrerogroup's value proposition. It can help them to gain competitive advantages over competitors thatare selling the same kind of products. The demand of chocolates is seen in almost every agegroup such as children and young people. The market share of chocolates is high as compared toother confectionery items. According to its durability, confectionery market can be divided into various categoriessuch as chocolates, sugar, gum cereal bars and other items. Major part of raw material is used inthe formulation of chocolates i.e. cocoa and sugar (Bosomworth, 2015). It has been seen in theUK that manufacturers use better components as it is an easier way to rising nation will have aneffect on growth of confectionery market. Marketing research report on chocolate confectionerysector consists of market audit, industry analysis and total size of data. But in order to introducenew product into the same segment, Ferrero needs to conduct effective environmental analysis so1
Essay on Marketing Strategy for Ferrero Group_4

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