Marketing Objectives for Cocoa Delights: A Comprehensive Report

This report provides a comprehensive analysis of Cocoa Delights' marketing objectives, starting with an organisational review that includes an overview of the company, its vision, mission, and a meeting summary with the CEO. It then delves into a PEST analysis to evaluate the political, economic, social, and technological environments, along with an assessment of legal and ethical requirements. A SWOT analysis is conducted to identify strengths, weaknesses, opportunities, and threats. The report then presents a viability report, including a cost-benefit analysis, risk assessment, and impact analysis. Finally, it outlines specific marketing objectives, including long-term and short-term KPIs, attainability, compatibility, consistency, legal considerations, and risk management strategies. The report concludes with recommendations for Cocoa Delights to achieve its marketing goals within the Australian market.

DEVELOP ORGANISATIONAL MARKETING OBJECTIVES

Table of Contents
Table of Contents..............................................................................................................2
1.0 Task 1: Organisational Review....................................................................................4
1.1 Introduction...............................................................................................................4
1.2 Organisational Overview..........................................................................................5
1.3 Brief on the Meeting with the CEO of the Organisation...........................................5
1.4 Vision and Aim of the Organisation..........................................................................6
1.5 Situation Analysis (PEST)........................................................................................7
1.6 Legal and Ethical Requirements............................................................................10
1.7 SWOT Analysis......................................................................................................11
1.8 Evaluation of Effectiveness of Existing Marketing Strategies................................12
1.9 Conclusion..............................................................................................................13
2.0 Task 2: Viability Report..............................................................................................14
2.1 Introduction.............................................................................................................14
2.2 Cost Benefit Analysis (CBA)..................................................................................14
2.3 PEST Analysis........................................................................................................15
2.4 Risk Analysis..........................................................................................................17
2.5 Fit Analysis.............................................................................................................17
2.6 Impact Analysis......................................................................................................18
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2.7 Conclusion..............................................................................................................18
3.0 Task 3: Marketing Objectives....................................................................................19
3.1 Introduction.............................................................................................................19
3.2 Objective Description.............................................................................................19
3.3 Overall KPIs and Objectives (Long-term and Short-term).....................................20
3.4 Attainability.............................................................................................................20
3.5 Compatibility...........................................................................................................21
3.6 Consistency............................................................................................................21
3.7 Legalities................................................................................................................21
3.8. Risk Management Strategy...................................................................................22
3.9 Conclusion..............................................................................................................22
References.......................................................................................................................24
Appendices......................................................................................................................28
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1.0 Task 1: Organisational Review
1.1 Introduction
The conceptualisation of marketing objectives and implementation of the same may be
construed to be significantly success-critical factors for a business organisation (Ashley
and Tuten, T2015). This is because of the fact that the process of such
conceptualisation and implementation may take into considerations the number of
factors that are both internal and external to the (business Baltes, 2015). Well designed
marketing objectives may help the management to execute the operations in the most
sustainable manner (Banihashemi, Hosseini, Golizadeh and Sankaran, 2017). The
present piece of the report briefly delves into the analysis of the marketing objectives of
Cocoa Delights, a dark chocolate store in Melbourne, Australia, with reference to the
given case study scenario.
At the very beginning of the paper, the researcher provides a brief introduction to the
topic followed by a concise discussion on the corporate mission and vision of the
company. In the subsequent sections of the report, the organisation’s external
environment has been evaluated on the backdrop of PEST framework. In addition, the
legal and ethical requirements have also been assessed and finally, a SWOT analysis
has also been conducted in order to state the existing capabilities and threats potential
to the firm that may arise in the long run. Finally, the researcher wraps up the
discussion by way of providing a concluding note.
In terms of organisation overview, it may be stated that the Cocoa Delights (hereinafter
may be referred to as “Cocoa” or the business or the company or the firm, as the case
may be) is one of the most reputed chocolate manufacturers in the chocolate industry.
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The company was founded in 2000. Cocoa supplies smooth dark chocolates, hot
beverages, sweets and confectioneries. The primary target of the firm is to spread its
business in all the cities of Australia. In Australia, business opportunities for cocoa
delights are quite mesmerizing as the growth potential is large and the customer base is
substantial, that may be analysed in the subsequent sections of the report.
1.2 Organisational Overview
Cocoa is a chocolate manufacturing and distributing store based in Melbourne,
Australia. Presently it has 15 physical stores across the country. The company was
founded in the year 2000 and hence it may be stated that the firm has spent a
substantial amount of time operating in the industry. The company specialises in
manufacturing and distributing handmade dark chocolate products. Presently, the
company has been performing extremely well in the given market with substantial
market share. It is expected that within a few years, the brand will achieve the majority
of the handmade chocolate market shares in the country.
1.3 Brief on the Meeting with the CEO of the Organisation
The meeting with the CEO of the organisation has revealed that the growth prospect of
the firm has been strong and the management strongly believes that the brand will be
able to achieve a competitive advantage in the industry within few years through its
sustainable offering and unique value proposition. The meeting has also revealed that
the management of the firm is assuming the considerable risk from the point of view
growing emphasis put by the Government and other regulators on the compliance
related to the environmental laws and regulations. In addition, the CEO has also
asserted that their offering of handmade chocolates has been extremely popular in the
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territory on account of increasing health consciousness of the customers. Therefore, the
management expects a sharp rise in both the top-line and bottom-line of the business in
the next few years and thereby achieve sustainability in the operations.
1.4 Vision and Aim of the Organisation
Mission and Vision
The vision of the company is becoming the world-class business in Australia with a
larger range of quality chocolate products. In this context, it may be stated that a vision
statement portrays the future potential and objective position of the company and hence
it is very critical for the management of a business to devise its vision and mission
statement carefully (Blakeman, 2018). The vision of the Cocoa may reveal that the
emphasis is primarily on the quality and thereby increasing the customer base in a
sustainable approach.
Goals, Aims and Objectives
A brief insight into the given case study may depict that the company was conducting its
operations with pre-set goals and objectives for both the short and long-term. These
goals majorly revolve around the quality assurance, enhanced value offering, fairness in
the transactions, and stability in the relationship with the vendor and suppliers,
transparent corporate reporting and also the sustainable value creation for the society
as a whole. In short, the aims and objectives of the company may be restated herein
below:
 Sustainability and disruptive innovation
 Customer satisfaction through value offering
 Employee satisfaction through efficient workplace and motivation
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 Initiatives towards building brand equity and quality
 Customer engagement and
 Sustainable and environment friendly operations
1.5 Situation Analysis (PEST)
Political
The political environment of the country has been business friendly as the country is the
member of several internal trade related organisations such as OECD, WTO, UN and
G20 etc (Bloch and Bhattacharya, 2016). It is needless to mention that membership of
these international organisations has paved the way for expansion and growth of the
business environment within the country (Boyle, 2015). The cross border policies and
foreign affairs of the Australian Government have also been strong in the last few years
as may be witnessed from its close and steady relationship with the USA. However, the
international relations of the country have also been criticised many times primarily on
the ground if its deportation law (Furlan and Faggion, 2016). Such criticism has made
by the Government of New Zealand from time to time. In addition, it may also be stated
that the UN has also alleged Australia for being failed to protect human rights,
indigenous rights and the treatment towards the refugees (Cawsey and Rowley, 2016).
Cocoa Context – Cocoa has been enjoying the business friendly political environment
of the country since inception and is a small-sized firm, enjoying the benefit of lower tax
bracket as well. However, the Government has recently introduced new sets of rules
towards the environmental compliances that may demand strict compliance by the
corporate houses. Such stringent compliance framework may put the management of
the Cocoa in stress and hence require strategic positioning and careful vigilance.
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Economical
The Australian economy is primarily based on agriculture with the majority of the
population is involved in agro and allied services and activities (Karimi and Naghibi,
2015). Though the growth rate in GDP has been marginal, the economy is considered
to be steady in terms of its sustainable production and considerable investment towards
the land and property (Chan, Darko and Ameyaw, 2017). The corporate tax rate is 30%
with the option of a lower tax bracket for higher income groups as well. The country has
been well maintaining the balance of trade and payment in the international trade arena
and importing oil, electronics equipment and medical apparatus etc. On the other hand,
the country exports iron ore, gold, coal, natural gas etc (Hong, Shin, Kim, Seon, ho Um
and Song, 2015).
Cocoa Context – The growing economy has aggravated the growth prospect of the
organisation. It has been historically observed that agro-based economy generally
allows food product business to grow and Australia is also no exception to the same.
Social
Australian society is one of the most advanced societies across the globe because of its
multicultural and multiracial aspects. People from different cultural background and
different countries come every year in Australia and stay therein (Jiang, Ramkissoon
and Mavondo, 2016). Australian Government adopted a mass immigration policy after
the World War II which is one of the most politically debatable issues in the country
(Hong, Shin, Kim, Seon, ho Um and Song, 2015). The average life expectancy varies in
the range of 80 to 84 and the people are generally health conscious (Gholami,
Karimiankakolaki and Ghobeyshavi, 2016). It may also be noted that Australian society
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prefers outdoor sports largely and the people spend times playing or watching sports.
Australia is one of the best countries in the world in terms of sports and the sports
sector contributes a sizeable portion to the country’s GDP. The country has the number
of public and private universities where the number of students from different countries
come every year (Hong, Shin, Kim, Seon, ho Um and Song, 2015).
Cocoa Context – The fact that the people are health conscious may accelerate the
growth of Cocoa because of its unique offering that matches with the demand
landscape of the customers. In addition, the country is populated with young students
who generally prefer chocolates and related products. Therefore, it may be stated that
the company has been able to sustain and grow because of the appropriate customer
segment available throughout the country.
Technological
Australian people and corporate houses have been able to adopt technology steadily
and with the passage of time, the investment towards technology has been increasing
on a consistent basis. It has been observed that the purchase of newer sets of
technology has been estimated to be almost $65 billion for the year 2019 (Lee,
Kozlenkova and Palmatier, 2015). However, the universities and research centres may,
at times, suffer from funding crisis and Government provides financial support to the
almost half of the universities throughout the country for the purpose of research.
Besides, the corporate houses also contribute to such an R&D program of the
universities as part of their CSR activities (Hong, Shin, Kim, Seon, ho Um and Song,
2015).
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Cocoa Context – The firm has been using technology in their marketing operations, to
a great extent, in order to reach out to the target customers. Such usage involves online
promotion, application of ICT (information and communication technology) in its
operations and supply chain and also in the value offering process.
1.6 Legal and Ethical Requirements
Government of Australia has given emphasis on environmental issues. Weather and
climate change is one of the most critical environmental issues the country has been
facing nowadays (Kidd, Kemp, Kashima and Quinn, 2016). Global warming has become
a matter of concern for the Government and hence the regulations related to
environmental policies have now become stricter (Liu, Wang and Wilkinson, 2016).
Since the country may be considered to be one of the driest inhabited continents on the
globe, the water crisis is being dealt with utmost significance (Kumar, 2016). As a result,
the environment-friendly products have become buzzword presently and the
Government emphasises on the green initiatives undertaken by the Government (Hong,
Shin, Kim, Seon, ho Um and Song, 2015).
Cocoa Context – It may be noted that the stricter regulations have made the corporate
houses uneasy and cautious with respect to the compliance requirements and the same
applies for Cocoa as well. If the company is found doing something that harms the
environment, it will be heavily penalized. Since Cocoa consumes lots of electricity, as
part of their value offering, through bright and light-filled stores and outlets, the
customer experience is construed to be satisfying. However, the flipside to the story
may be considered to be the environmental impact of the same and related compliance
burden as well on the management of the company.
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1.7 SWOT Analysis
Strength
One of the primary strengths of the company is its high quality offering. The quality is
top-class that creates customer satisfaction to a great extent. Products can be
compared with European quality chocolates. It processes more than ten types of cocoa
beans from several countries. Products are completely Australia-made. The company
use eco-friendly products and produce enormous variety and choice in chocolates.
Weakness
The budget of the company, in terms of marketing and promotion, is very low, as
compared to the other competitors. Cocoa is considered as the youngest company in
the industry. So, experience level is lower than the competitors. Company's product
market is limited. Products are available only in some major shopping malls of suburban
areas and in cities like Melbourne, Sydney, and Adelaide.
Opportunity
Australian people like products completely made in Australia. They usually never
compromise with the quality of foods. People are very health-conscious. The company
use fine dry cacao to process cocoa beans. They use sugar, dairy products, and dry
fruits all from Australia. Company's main product is dark chocolate. There is no risk of
extra added sugar which causes obesity. Moreover people now like online shopping and
the Broadband rollout is also increasing in Australia. So, there is another opportunity to
reach more people.
Threat
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Strict laws regarding environment, rising interest rates, the continuous growth of
unemployment, recent fall of disposable income are the threats for the company. The
market is highly competitive as the competitors are trying to offer value through their
products that makes the competition more aggressive. Besides, as stated earlier, the
regulatory environment has become stricter and hence there are potential threats for
non-compliance related impacts.
1.8 Evaluation of Effectiveness of Existing Marketing Strategies
The given case scenario shows that the current activities and strategic decision making
of the management of Cocoa have been in line with their pre-set corporate objectives.
After going through the case study, it has been observed that the company is now
focusing on local suppliers to national suppliers. It has also been decided to choose
media to reach more people and also to save money. The company is focusing on
creating brand awareness than product promotion as the former will create a
sustainability position for the business in the market in the long-run. In addition, it is also
to be noted that the expected store growth and sales growth are planned to be achieved
by the company in a given time horizon. 45 per cent gross profit margins could be
reached against 63 per cent objectives set. Moreover, it has been construed that PR
marketing is better than expected. Brand awareness achieved is 58 per cent. Some of
the lessons learnt along with the critical success factors (CSFs) are listed below:
 New innovation and creative idea
 Advertising through media.
 Increase in the number of chocolate consumers
 Comparative failure in advertising through radio
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