Essay on Principles of Marketing and Communications in Digital World

This essay is a reflection on the experience of participating in a group project focused on the principles of marketing and communications in the digital world, specifically concerning the launch of a hypothetical chocolate product called 'Crazy Chocolates' in the USA market. The author details their role in conducting market analysis, the challenges faced such as limited access to market research reports, and the learning experiences gained through studying marketing theories and applying them to real-world scenarios like segmentation, targeting, positioning (STP), and developing a marketing mix. The essay highlights the enhancement of knowledge in marketing strategies, understanding of real-life challenges in product launching, and improvement in skills such as market research, presentation, and strategic thinking, which are beneficial for future academic and professional endeavors. The reflection emphasizes the practical application of theoretical knowledge and the development of crucial skills like patience and observation.

Running head: PRINCIPLES OF MARKETING AND COMMUNICATIONS IN DIGITAL
WORLD
Principles of marketing and communications in digital world
Name of the Student:
Name of the University:
Author note:

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Reflection writing
I was assigned to participate in a group and prepare a presentation on the topic ‘Principles
of marketing and communications in digital world’. It was a four member group and everyone
was assigned a particular segment of the presentation. Preparing this presentation was a very
effective learning experience for me. I learnt how to do market research and present the findings
in a PowerPoint template, which is beneficial for my future studies and career. My experiences
while making this presentation are illustrated below.
As per the requirement of the presentation, a new or improved product or service was to
be chosen. After a thorough study of the marketing strategies and various product markets and
extensive discussion, our group decided to go ahead with the chocolate market in the USA.
There are some famous local as well as international chocolate manufacturers dominating the
USA chocolate market and we designed this new product, Crazy Chocolates to enter this market
as it is growing in a steady rate. The product specifications; segmentation, targeting and
positioning; and recommended marketing mix were designed by the other three members of the
group, while I was assigned to perform the market analysis. Every section of the presentation
reflects our efforts of conducting an extensive and comprehensive research on the subject.
There have been some easy part and some difficult part while preparing the presentation
for launching Crazy Chocolates in the chocolate market of USA. Firstly, deciding the varieties to
manufactured and launched, its specifications, aims and objectives were the easier part in this
assignment. After conducting a study on the existing chocolate products in the market, it was
comparatively easier to design an aim for the company, as well as its varieties. Secondly, market
analysis was also easier to some extent. The market competitors for Crazy Chocolates were

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already known and hence, it was easier to narrow down the market analysis. Various secondary
data were collected from different websites and reports of market research companies to find out
the market trends, issues and opportunities. Supporting studies of the marketing theories have
helped me to understand the market trends in a much better and useful manner. However, while
collecting the data for market studies, one obstacle that I encountered was unavailability of the
reports. Majority of the market research and analysis reports were not free and the websites
asked for payment for giving the access to the reports. Being university students, we did not have
adequate funds for accessing those documents and data. I had to search extensively to find out
some reports so that I can present the market analysis with charts.
The third and fourth members of the group prepared the segmentation, targeting and
positioning (STP) and marketing mix for the Crazy Chocolates. While preparing the STP part,
we all studied the marketing theories. This helped us to understand the logic behind the STP
created for the new product, that is, Crazy Chocolates. While launching a product in the market,
it is extremely essential to define a target market for it and create a positioning by highlighting
the Unique Selling Point (USP) of the product. Along with the fellow group member, responsible
for this section, we all learnt about this marketing strategy, which enhanced our knowledge on
the subject. We learnt about how to create the segments of the customers and target them with
the USP for any product or service and this knowledge will help us even in the future studies and
career also.
Lastly, marketing mix for Crazy Chocolates was prepared by the fourth member of the
group. It is the last section of the marketing strategy. Once again, the study of the theories helped
us to understand the practical aspects of the topic and its real life implications. Since, we had to
apply our theoretical knowledge about marketing mix on a real product, we understood our level

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of understanding of the subject and our drawbacks in making a specific marketing mix.
Marketing mix is highly important for new as well as existing products and services as that helps
the manufacturer to reach out to the target customers. We all learnt to design a specific
marketing mix for Crazy Chocolates and in the process, our knowledge about the STP process
also enhanced. Although it was somewhat difficult to determine the pricing strategy, as it
includes many other factors, such as, production cost, distribution cost, raw material’s cost and
its uncertainty of supply. Thus, we gathered data about the market prices for the competitors’
products and chose the cost leadership strategy to launch the product at a lower price for the first
month at least.
Thus, it can be said that, this presentation on the new chocolate product, Crazy
Chocolates, has given me an enriching experience, which will last for lifetime. My knowledge on
the marketing strategies and principles have enhanced significantly, which will help me in my
future studies and career. While preparing for the hypothetical product in a real life scenario, I
learnt about many real life challenges, such as, uncertainty in supply of raw materials, and
degradation of quality of the products, which would affect the quality and supply of the product
considerably. This would have a chain reaction on the pricing policy and consequently on the
target market. Hence, it can be said that, with the knowledge I gained from this assignment, I
will be able to perform better in my future assignments and in all types of tasks in my career. I
have understood the ways to do market research and present the findings in a PowerPoint
template. I also learnt the basics off creating a marketing strategy for a product or service and
recommend the appropriate marketing mix. Thus, my expertise on the marketing strategies and
marketing mix has improved quite significantly, which will be beneficial for my future studies.

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My patience and observation skills have also improved during this presentation, which
contributed in my personality development.