MKT600 Marketing Plan: Developing Strategies for Swiffles Chocolate

This report details a comprehensive marketing plan for Swiffles, a chocolate brand operating in the Nepalese market. It begins with an introduction and overview of Swiffles, outlining its objectives and the challenges it faces, such as competition and lack of market knowledge. The report then proposes strategic solutions, including market research and development, effective marketing strategies utilizing social media, and a product development strategy focusing on organic ingredients. It includes a detailed action program, budget, and break-even analysis. The plan further explores segmentation, targeting, and positioning, identifying demographic, geographic, behavioral, and psychographic segmentation approaches. The targeting strategy focuses on kids, young adults, and the middle-class income segment. Swiffles aims to be positioned as a mid-price range brand offering quality chocolates. The marketing mix, including product, price, place, and promotion, is thoroughly discussed to support the brand's objectives. The report concludes with a summary of the key findings and recommendations for Swiffles to succeed in the competitive chocolate market.

Running head: MARKETING PLAN
Swiffles
Marketing Strategy and Plan
5/9/2019

MARKETING PLAN 1
Table of Contents
Introduction................................................................................................................................2
Overview of Swiffles.............................................................................................................2
Objectives of Swiffles............................................................................................................2
Issues with Swiffles................................................................................................................3
Strategy Development for resolving issues............................................................................3
Action Program......................................................................................................................5
Budget and controls................................................................................................................5
Segmentation, Targeting, and Positioning.............................................................................6
Segmentation......................................................................................................................6
Targeting............................................................................................................................8
Positioning..........................................................................................................................8
Value Proposition...................................................................................................................9
Marketing Mix.......................................................................................................................9
Product...............................................................................................................................9
Price..................................................................................................................................10
Place.................................................................................................................................11
Promotion.........................................................................................................................12
Conclusion................................................................................................................................12
References................................................................................................................................14

MARKETING PLAN 2
Introduction
Marketing planning supports in developing the services and products in the business that
fulfill the demands of the target audience. The effective market supports the target market in
understanding why the service or product of the company is better and different from the
products of the competitor (Wood, 2011). Besides this, the market plan support company in
reaching the target market, increase the base of the customer and eventually increase the
bottom line. It is mostly needed while seeking funds and support in setting realistic,
measurable, and clear goals for the business. The key benefit of framing the marketing plan
to business is its support in concentrating on the resources and planning the growth of the
business (Burns, Bush & Sinha, 2014). The intent of this paper is to present the marketing
plan for the chocolate brand in the confectionary industry that is Swiffles. The marketing plan
of Swiffles is comprised of key principles and theories of practical marketing strategies.
Besides this, it is critically evaluating the needs of the client in regards to the value creation
for the business. Critical evaluation of the influence of the marketing mix application to the
target audience is also highlighted in this paper.
Overview of Swiffles
Swiffles is the chocolate companies which is offering quality chocolates and known in the
market for creating customizable chocolates as per the customer preference. The aim of the
company is to offer the best quality chocolate at a rational price with a bit of personal touch
in it. Swiffles is presently at the journey of creating memories by creating customizable
chocolates which could be presented as gifts to the loved ones with added personalized
message incised on it. Swiffles is the chocolate brand of Nepalese market.

MARKETING PLAN 3
Objectives of Swiffles
The objective of Swiffles is to establish as the international brand in the Nepalese as well as
the global chocolate market.
The objective of Swiffles is to gain a competitive advantage in comparison to other strong
competitors present in the market like Cadbury, Nestle, Mars, etc. in terms of price and
quality of the product.
Further, the management of the company is exerting maximum efforts for understanding the
behavior of the customers in the Nepalese market.
Issues with Swiffles
The major issues that can be experienced by Swiffles in the Nepalese Market are the lack of
knowledge as well as information regarding the preference of customers for chocolates in the
market. In addition to this, the company is also a new brand in the market which is rising
number of challenges in the direction of the company, as the Nepalese Chocolate Market is
competitively comprised of a number of strong international as well as domestic brands. In
addition to this, being a new brand it becomes very difficult for the business to attract
customers and generate their trust and loyalty for the product in such a competitive market.
Strategy Development for resolving issues
Market research and development – Research and Development perform a major role in
the procedure of innovation as well as successfully establishment of business in the
competitive market. It is generally an important investment of the business in identifying the
future capabilities which are altered into new procedures of offering products in the market
(Reeves, McKenney & Herrington, 2011). Considering the major issue for Swiffles of lack of
knowledge of customer preference and demand, it can only be resolved by adopting a
comprehensive procedure of research and development under which the department of the

MARKETING PLAN 4
company will be assigned responsibility to perform different surveys in order to analyze the
preference of Nepalese customers for chocolate.
The premium chocolate demand among Nepalese has increased majorly as they are becoming
more judicious in their tastes. According to the trader's competition in this particular segment
is increasing because the number of players in the market is increasing. The Indian group that
is Rajhans Group has flourished in the market of Nepal by introducing its premium brand of
chocolate that is Schmitten and Hoppits. KitKat, Nestle, and Cadbury are few of the premium
chocolate brands that are also sold in the country. It has been analyzed that the consumption
of chocolate is increasing in recent years and a number of customers are purchasing premium
chocolate (Bashyal, 2015).
Marketing Strategies – Adopting affecting market strategies also support business in
establishing the brand in the market. It has been discussed above that, Swiffles is a new
product in the Nepalese market, therefore, it is dealing with intense competition. In order to
reduce the effect of intense competition in the Nepalese market, the company can market the
product features on different social media websites as people are today regularly getting
involved in using social media platforms due to the introduction of the Internet. Besides this,
the company can create different social media campaigns that could work in attracting
customers (Tiago & Veríssimo, 2014). As Swiffles is a newly introduced business in Nepal,
so adopting effective promotional strategies will support business in increasing the trust of
the customers over the brand.
Product Development Strategy – Product development strategy is the procedure of carrying
a new product or making changes in the existing products features when there is a possible
growth opportunity in the current market. In recent time, the demand and preference for the
organic ingredient are increasing because customers are becoming conscious about their

MARKETING PLAN 5
health and aware of the benefits of having organic products (Freng Svendsen, Haugland,
Grønhaug & Hammervoll, 2011). Considering this aspect, Swiffles has moderately had a low
competitive advantage in comparison to other brands that are present in Nepalese markets
such as Patanjali, which is known in the market for its organic ingredients and healthy
products. Hence, it is recommended that Swiffles must get involved in not just offering
premium products but also add the product line or organic chocolates that could attract
health-conscious customers like parents, dieticians, etc.
Action Program
Activities Time frame Responsible Department
Market Research and
Development
2-3 Months Research and Development
department
Marketing strategies 1-2 Months Marketing Department
Product Development
Strategy
3 Month Marketing and planning
department
Budget and controls
Cash Budget for Swiffles (Amount in Nepalese rupee)
Fixed Asset Acquisition
Office Equipment 10000
Machine 5000
Raw Products 3000
Expenses
Website creation expenses 1500
Legal Requirements 1000
Business Setup 2000
Total expenses 22500

MARKETING PLAN 6
Break Even Analysis
Estimated Monthly Fixed Cost 18000
Estimated percent variable cost 40%
Monthly Break Even (Fixed cost / percent of fixed cost = 18000/60%) 30000
Segmentation, Targeting, and Positioning
Segmentation
Segmentation is the procedure of dividing the market into different segments or parts that are
accessible, profitable, actionable, and definable and possess the potential of growth for the
business. Segmentation is one of the most important strategies that must be adopted by every
business in order to gain a definable segment otherwise it will be very tough for the company
to target the entire population (Weinstein, 2013). By arranging the target market, the
company can get a different segment in place of targeting every potential consumer
individually. It offers more efficient results with time, money and other resources. Grouping
the same type of customer in a single group enable the marketer to target the particular
market is a cost-effective way. Hence, Swiffles have to work on dividing its market based on
four main segmentation category that are:
Demographic Segmentation – Demographic segmentation is the simplest form of market
segmentation strategy that is widely accepted by a number of businesses in the market. A
number of businesses make use of it in order to target the correct segment of the population
by using their products and services (Goyat, 2011). Segmentation normally divides a
population depending on different variables. Some of the demographic segmentation
variables are gender, occupation, age, nationality, race, family size, religion, and income.
Swiffles will divide its market based on demographic segmentation with the possible
variables income, age, occupation, etc.

MARKETING PLAN 7
Geographic Segmentation – Geographic segmentation is another type of market
segmentation strategy which works by dividing people based on geography. The potential
consumers have diverse needs depending on the geography in which they are located
(Menzly & Ozbas, 2010). Under geographic segmentation, Swiffles has also selected the
geographic segment in order to have prescribed area where it can offer its quality chocolates
that is Nepal. This market has been selected by the company because this market is offering
increased growth to chocolate businesses due to increasing demand from the customers.
Behavioral Segmentation – Behavioural segmentation works by dividing the population
based on their usage, pattern of decision making, and behavior. For instance – young people
like to purchase chocolate for gifting someone, whereas kids purchase chocolate for their own
consumption (Harrison & Kjellberg, 2010). Besides this, adult customers purchase products
for their loved ones that are children.
Swiffles will target its market based on behavioral segmentation strategy by segmenting the
market based on the behavior of the customers, decision-making pattern, and usage of the
product by the customer.
Psychographic Segmentation – Psychographic segmentation which considers variables like
activities, interest, opinion, and lifestyle of people are the dividing variable for targeting key
segment. Psychographic segmentation is same as behavioral segmentation. However,
psychographic segmentation strategy also considers the psychological aspects of buying
behaviour of the customer (Weinstein & Cahill, 2014). These aspects can be the lifestyle of
the consumer, the social standing of the customer.
Swiffles has planned to offer the premium class as well as organic ingredient chocolate in
order to give strong competition to the existing players and targeting health-conscious
customers.

MARKETING PLAN 8
Targeting
Targeting strategy is one of the market strategy adopted by the business for selecting the
potential consumer to whom the company can vend its services and products in an effective
manner. Targeting is initiated towards a particular customer group because there is a number
of segments present in a different market. Many of the businesses do not choose all the
segments of the market in order to operate and select a few of the recognized segments
through targeting. Targeting is the procedure of selecting the market depending on the
attractiveness of the segment (Bernanke, Laubach, Mishkin & Posen, 2018).
Swiffles will target kids, young, and adult people of both the genders because all the three
segment people purchase chocolates for their own consumption or for their loved ones.
Besides this, the major priority will be provided to the middle-class income segment to
purchase premium and healthy chocolate brand that is offering the occasion to have to get
delighted with the consumption of Swiffles.
Positioning
Positioning is the place that is occupied by the brand in the eyes of the consumers, which
helps the brand in distinguishing from other products available in the market offered by
competitors. To place the product or service in the market, businesses can stress the unique
features of their product or service or they can put effort to make an appropriate image with
the help of the marketing mix (Akaka & Alden, 2010). The time a product or service has
attained a strong position in the market, and then it becomes very tough for other brand or
product to reposition it. Positioning is one of the most powerful marketing concepts. Majorly,
positioning highlights the reputation of the products built by the business in the eyes of the
customers and a top ranking among the products of the competitors.

MARKETING PLAN 9
Swiffles has planned to be positioned in the Nepalese market as the mid-price range products
which are involved in offering quality chocolates to the customers. The company has decided
this because of the increasing demand for premium chocolates in the market which are
presently being offered at high rates. In order to offer customers the chance to enjoy premium
chocolate, Swiffles has planned to be placed in the mind of the customer as the mid-price
range chocolate business.
Value Proposition
Swiffles is for different people who crave for premium and quality chocolate that offer a
delightful experience at reasonable prices.
Marketing Mix
The marketing mix is the set of strategies accepted by the business to market the service or
brand in the market. The marketing mix is comprised of four main elements that are the
product, price, place, and promotion. This framework has been one of the dominant
frameworks used by the businesses for taking decisions related to marketing management
(Gordon, 2012).
Product
Product is the item that is offered by the business to satisfy the need of the target market. It
can be a physical item or a virtual offering. The product or service is created at a certain cost
and is consequently made accessible to the correct target market at a certain price (Mintz &
Currim, 2013). The product or service follows the lifecycle, irrespective of its nature. An
effective product or service needs to meet the particular need of the target market. In the
context of functionally, the product should operate its function as promised in different
marketing activities.

MARKETING PLAN 10
Swiffles is the premium chocolate brand which is focused towards offering quality
chocolates. Besides this, the business is planning to offer customizable chocolates according
to diverse demand and expectations of the customers. The company is involved in
manufacturing quality chocolate of different shapes and flavors to delight the mood of the
consumer at very reasonable prices. Swiffles is presently at the journey of creating memories
by creating customizable chocolates which could be presented as gifts to the loved ones with
added personalized message incised on it.
Price
Pricing performs a major role in the marketing mix framework. The key reason for this
importance is that all the other elements of marketing mix results in generating a cost of the
business, however, price is the only source which helps business in earning profits and
income (Enache, 2011). With the pricing strategy, the business is able to manage the
production cost, distribution cost, and the promotion cost. Simplistically, price is said to be
the value evaluated in terms of money as part of the transaction that takes place between two
parties or people. Pricing is one of the most complicated elements of the marketing mix,
which have to highlight the demand and supply, the perceived value of the brand, and object's
actual value in the eyes of the customer. Swiffles is presently being introduced as the new
chocolate brand in the Nepalese market with a key motive to offer quality chocolate to the
customers of the middle class who desire to have premium chocolate. Hence, the
management team of the company has planned to offer chocolate to the customers at
reasonable prices.
The price strategy that will be adopted by Swiffles in the Nepalese market to offer premium
chocolates to the middle class, as well as premium class customers, is economy pricing.
Economy pricing strategy is majorly utilized by a number of businesses. The key aim of
Swiffles behind adopting economy pricing strategy is to entice those customers who are price

MARKETING PLAN 11
conscious. With the help of this strategy, the company can reduce the cost linked with the
production and marketing to reduce the prices of the product (Allcott & Wozny, 2014). The
result of adopting this strategy is the increased purchase of the product to meet the identified
needs.
Place
The procedure of moving the product from the place of manufacturing to the end user of the
product is known as a place. In simple words, it is the procedure through which the product is
purchased and the place where it is purchased. This movement of the product is attained by
the combination and collaboration of intermediaries like distributor, wholesalers, and retailers
(Riaz & Tanveer, 2012). In addition to this, a new place concept has been introduced in the
market is the internet which is itself considered as the market place. By using the right place,
a business can augment sales and maintain it for a longer time duration. In turn, this can
result in a higher share in the market and augmented profits as well as revenue. Selecting the
correct place for the distribution of the products is the key activity that is concentrated on
attracting the right target market at the right time. It concentrates on the place where company
or business operations are placed, the place where the target audience is placed, how to link
both these aspects and how to ultimately transport them. As Swiffles is involved in the
manufacturing of the chocolate it will initiate tie-ups with the suppliers of different chocolate
making ingredients like cocoa powder, tools, flavors, etc. In addition to this, in order to have
an effective supply chain of the chocolate, the company will maintain a good relationship
with all the involved intermediaries involved in the distribution channel such as distributors,
wholesalers, and retailers. In addition to this, the company has also planned to offer its
product through an online medium by creating the online website and business page on
different social media platforms for allowing customers to place order conveniently.

MARKETING PLAN 12
Promotion
The promotion comprises every activity that is related to the communication with consumer
about the features of the product and related benefits. After deciding the price and place
strategy of the product, it becomes very important for the company to communicate the
features of the product among consumers (Smutkupt, Krairit & Esichaikul, 2010). This
comprises increasing awareness with the help of diverse mediums to increase product sales
and to foster brand loyalty. The information offered to the customer at this place supports
them in taking appropriate decision reading purchasing of a product. Mostly, there is
considerable linked cost with the activities of promotion (Morgan & Pritchard, 2012).
However, the outcomes of promotion support business in increasing sales or loyalty of the
customer. In order to promote the chocolate features among customers of the Nepalese
market, Swiffles will adopt the advertisement of the product through television and radio
medium. In addition to this, the business has planned to adopt digital marketing, sales
promotion, etc. as the promotion strategies. Furthermore, considering the increased use of
social media sites with the introduction of the Internet, the company has planned to develop
its unique page on Facebook, Instagram, and Twitter for product promotion.
Conclusion
The above paper has highlighted the market strategies and market plan for Swiffles in order
to establish its operations in the Nepalese market. From the above analysis, it has been
analyzed that Nepalese chocolate market is a very competitive market which offers high
threat for the new entrant. Hence, it will be tough for Swiffles chocolate to be placed in the
market. In order to successfully operate in the specified market and overcome the specified
issues, the company will increase the intensity of research and development, marketing of the
products, and product development strategy. In addition to this, the paper has also highlighted

MARKETING PLAN 13
the segmentation, targeting, and positioning strategy such that it can target correct market
segmentation while can offer company chance to earn profit and revenue. Furthermore, the
paper has also highlighted the marketing mix of Swiffles through which the company will
successfully establish its business in the Nepalese market.

MARKETING PLAN 14
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