Marketing Plan: Strategies for a New Chocolate Product Launch

This report presents a comprehensive marketing plan for introducing a new chocolate product. It begins with an overview of marketing concepts, differentiating between traditional and modern approaches. The report then delves into the marketing planning process, emphasizing the importance of the marketing mix. Section 2 focuses on market segmentation, identifying variables such as taste preference and price sensitivity to define distinct consumer groups. Target market selection is discussed, considering factors like market size and growth potential, with a focus on women and children. The report also addresses product positioning. Section 3 covers the marketing mix elements. The report concludes with a summary of the key findings and recommendations, supported by cited references.

Marketing Plan of Choclate

Table of Contents
Section: 1.........................................................................................................................................1
Concept of Marketing..................................................................................................................1
Marketing Planning Process.........................................................................................................2
Contribution of Marketing Mix in effective Market Planning.....................................................2
Section: 2.........................................................................................................................................3
Market Segmentation...................................................................................................................3
Target Market...............................................................................................................................4
Positioning...................................................................................................................................5
Section: 3.........................................................................................................................................5
Marketing Mix.............................................................................................................................5
Conclusion...................................................................................................................................5
References....................................................................................................................................6
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Section: 1
Concept of Marketing
In our daily life, we use variety of goods like toothpaste, milk, biscuits and many more things.
The question arises how these goods reach to us? Obviously, every business houses who are
producing goods ensure that these goods are to be sold, so for this purpose, their task is to aware
the customers about their products and they should place their products at a consumer
convenience place. This includes various steps like the planning of product, promotion, pricing,
sale, warehousing, etc. when we collect all these activities together; it is known as marketing. In
this assignment, we will study the marketing plan of introducing new chocolate. There are two
concepts of marketing which are:-
1. Traditional concept
2. Modern concept
Traditional concept: - According to this marketing is a process of selling goods and services
which are produced by business houses. (Welch, 2013)Thus, all the activities which are
connected with the selling of goods are known as marketing. This marketing concept
concentrated mainly on promotion activities, and little concentration is paid towards satisfaction
of the consumer. This concept has following implications:-
 This concept is mainly focused on product, means we should have a product, and
we have to sell it.
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 Efforts of marketing are made towards selling the product. For this, they adopt all
means of selling like personal selling and sales promotion or another.
 The main aim of this concept is to maximize profit by selling a large number of
goods.
Modern concept: - this concept focuses on producing the goods as per the needs and wants of
the consumers. In it, delivery of those goods is made to the consumers which give them more
satisfaction. (Armstrong, 2012) Then, in this marketing activities starts from identifying the
consumer needs, then plan the production of goods as per the tastes of the consumers. Thus,
main implications of this concept are:-
 In this concept, the whole focus of the management is towards their customers.
 The main aim of this concept is to earn a maximum profit by satisfying their customers.
Growing awareness of the social relevance of business, it should be considered that all
business houses perform marketing activities by considering the satisfaction of their
consumers.
Marketing Planning Process
Contribution of Marketing Mix in effective Market Planning
The marketing mix is considered as an important tool which promoting marketing strategy and
helps in implementation of a marketing plan with tactics. It is a part of marketing and helps in
conveying to customers why the product offered to them is different and better than available
alternatives. (Leonidou, 2013) Marketing mix helps the organization in identifying their target
customers. Most important things that marketing mix enables an organization to understand how
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to build and sell value to your target consumers. Implementing such marketing campaign that
shows off high-quality product at fair prices gives an opportunity to the organization to succeed
in future.
Section: 2
Market Segmentation
Segmentation is the process of finding out what kinds of consumers with distinct needs exist. For
example in the auto market, we often see that some customers demand speed and performance,
while others required safety and roominess. In general, it is always considered that all things
cannot serve to all peoples, and it is focused that the firms which are serving to a target market
are more profitable than others. Segmentation is a difficult process; it is a tough choice for the
organization. There are huge variables that can be used to differentiate consumers of a product
category. Thus it required selection of appropriate variables for segmenting our product. Thus,
we decided the variables which are most relevant in identifying different types of chocolate
consumers are:-
 Preference for taste with low calories.
 Price sensitivity- willingness to pay for a particular brand
Chocolate can be served to the consumers by market our product in distinct market segments:-
1. END USERS: - They are the operators who have their own vending routes, and they are
willing to expand their product selections. In this category, a large number of food
services are there that engage in the operation of vending which is a part of their overall
food service business.
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2. DISTRIBUTORS: - They are the distributors who buy the product directly from the
manufacturer. Organization uses the distributors for supplying their products widely in
different markets so that their sale can be an increase or their goodwill also enhance.
Target Market
The next step is a target on or more available segments. Choices should be correct; it is
influenced by various factors like- how well are existing segments served by other
manufacturers. It is quite difficult to identify proper market segment. Chocolate satisfies a
consumer need by satisfying their desires. Promotion of the chocolate is done for increasing its
sales. So, promotion is very important for generating profit. Chocolate is specially made for the
children's and females (teenage females, adult or mother) that are mostly like to use chocolate in
their celebrations. On the basis of past research in that field, it said that women contribute 51%
of the population (Kotler, 2015) and consume 6% more chocolates in comparison to men. While
targeting a particular segment, it should be considered that how large is a particular segment and
how much chances to grow it in future. The following elements are needed for commercial
attractiveness of each segment:-
 Criteria size: - it is necessary that the selected market should be large so that growth
chances of the market in the future are enough. If it is small than a growth of the
organization is also limited.
 Difference: - Between different segments, all the differences should be measurable.
 Money: - Profits in the organization should exceed than the costs of an additional
marketing plan and other changes.
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 Accessible: - It is the most important thing that selected segment should be accessible for
the marketing team, and the segment should be able to receive all notifications and
messages from the marketing team.
Focus on different benefits: - All the different segments must require different benefits.
Positioning
Section: 3
Marketing Mix
Conclusion
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References
Welch, K., 2013. What International Market Entry Strategy Should Kerecis Follow to Enter Into
the Indian Chronic Diabetic Wound Market?
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2012. Marketing: an introduction.
Pearson Prentice-Hall, London.
Leonidou, C.N., Katsikeas, C.S. and Morgan, N.A., 2013. “Greening” the marketing mix: do
firms do it and does it pay off?. Journal of the Academy of Marketing Science, 41(2), pp.151-
170.
Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2015.Marketing. Pearson Higher
Education AU.
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