Question

Develop a marketing plan for an existing or a fictitious company that plans to launch kefir chocolate.

This marketing plan should include these parts specifically; product, target market, price, place, promotion and SWOT Analysis of the product.

The parts in the below should be explained deeply.

Product: What is your product? Why do you think this idea would work in Turkey? Provide a 1-sentence mission statement as the producer/marketer of this offering. What is your competitive advantage with 1 sentence?

Target Market: Who is your target market, give a detailed account of your target market; who are they? What bases of segmentation are you using and why? State at least 2 different segmentation criteria that you prefer to use. Refer to the segmentation strategies

Price: What is your pricing strategy? Why are you using this pricing strategy?

Place: Where will you sell your product and why? Will you use direct or indirect channels?

Promotion: Hypothetically, create a marketing communications campaign for this product.What promotion (communication) mix elements will you use and why? Where (what media) will you use to communicate your product? Explain why you’ve chosen this particular media type.

SWOT Analysis:Make a SWOT analysis for your product/service. Write 3 strengths, 3 weaknesses, 2 opportunities, and 2 threats.If you only write one word and do not provide any explanation next to it, I won’t be able to understand what you think.

Please write clearly

Answer 1

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I make Ficticious company say Chocoland.

Product-

My product is Premium and luxury Chocolate. We want to sell this chocolates in Turky because Turkey is the country which is known for people with sweet tooth. They celebrate good news with Chocolate. they like to eat sweet dishes after a meal. This is why My business will run in Turkey.

Mission- "We Offer high quality and 100% organic chocolates to people who like to celebrate thier happiness with chocolate".

our Competitive advantage comes from organic range of chocolate in different flavors and varieties for different occassions like Eid/Ramza, Christmas,Valentines day, etc.

Target Market-

The first Target market is based on demographic segmentation. In this strategy we segment market based on factors like age, gender,education,occupation,income level, marital status.

Our Target customers are teenagers who study in school and colleges. We also target customers who are in relationship as well as married couples.

The second target market is based on Psychographic segmentation in which we segment market based on lifestyle, atttitude, personality etc.

Our target customers who likes to eat chocolate. customers who likes to give chocolate boxes as gifts.

Price-

I choose competitive based pricing strategy in which Our company will sale chocolates based on competition. There are already famous companies so we would put low price as compared to competition then show quality to customers in our chocolate like organic and different flavors.

This is because our business is new and customers tend to trust less for new companies so by lowering price we give them a chance to use our chocolates.

Place-

Our chocolate will be sold In online method as well as offline method. Our company will have main site from which customers can give orders and enter their pincode and address then we check if we are able to deliver to thier address or not.

In offline, we distrubute our chocolates to retail stores, supermarkets etc so that customers can directly buy from them.

Promotion-

For promotion we woud use different promotional tools of IMC.

We use social media to promote our chocolate to target audience. FB, youtube, Instagram etc because they are cost effective and reach to wide audience.

Use of TV commercials, celebrity influence, Billboards, etc.

SWOT analysis-

Strenghts-

Our company focus on organic cocoa which make high quality chocolates.

We have Marketing and sales experts in our company to promote and increase sales of the company.

We have high tech manufacturing machines to make chocolates.

Weaknesses-

Brand image is not strong as we are new company.

Require huge investment in marketing and hiring of employees.

Distribution channels are not strong yet like we have to find and set relations with suppliers.

Opportunity-

Strategic alliance with existing chocolate companies .

use of social media and technological medium to create marketing more effective.

threats-

Presence of other chocolate and local sweet shops which have strong market presence and image. it would be difficult to complete with them.

Government regulations like taxes, tariffs from import of Coca from foreign countries to make our chocolate.