Project Guidelines and Rubrichtmlcompetenciesin This Project You Wil ✓ Solved

In this project, you will demonstrate your mastery of the following competencies: Apply elements of the marketing mix to inform business decisions that support organizational objectives Determine appropriate marketing and communication distribution channels Explain how marketing decisions are made to target the consumer.

Chocolate Bliss started as a small, family-owned store in Seattle, Washington in 1976. While once a boutique chocolatier selling handmade “secret family recipe” chocolate bonbons, the company today has a wider variety of product offerings including boxed chocolate candies, chocolate baking products, and carob (chocolate alternative) candies and health bars.

Chocolate Bliss products are sold online and in their stores to consumers and to other businesses, specifically grocery stores, throughout the Northwest. The company has maintained its “secret family recipe” brand even as it has expanded its product offerings, and today enjoys strong brand awareness in the states where it is sold. The company’s primary competitors are: Ghirardelli Chocolate Company, Nestlé, and Rise Bar. Chocolate Bliss is financially healthy and has plans to expand into the midwestern United States, including the launch of a new product.

You need to have sound research and reasoning to support your work in developing a marketing plan. The marketing plan is not just about a successful product launch; it is about building the Chocolate Bliss brand and positioning the company strongly against its competitors, especially when it comes to price point.

The product selection options are: Gourmet truffles with fruit, herb, and flower extract infusions; Semisweet chocolate baking chips; “Healthy” carob (chocolate substitute) bars. Based on your product selection, complete the components below for the marketing plan.

Persona (Target Market): Research the target market for your chosen product and develop a persona by conducting target market research to identify key demographic and psychographic characteristics.

Promotion: Recommend two marketing communication channels for your chosen product. Briefly describe each and explain why they are appropriate based on your persona.

Price: Explain how one of the following is used to determine the approach to pricing: Company profitability, Competitor pricing, or Target market price sensitivity. Identify which pricing strategy is most appropriate for your chosen product and persona, and describe its general advantages and drawbacks.

Place (Distribution Channels): Describe how a recent change in the marketplace has affected distribution of products. Recommend one potential distribution channel for your chosen product and explain why it is appropriate.

Product: Explain how your chosen product should be marketed in relation to meeting the needs and wants of your persona. Describe how bringing this product to the marketplace will help support and build the company’s brand.

Evaluation: Identify how you would evaluate the effectiveness of the marketing plan using two specific quantitative and two specific qualitative data-collection tools, explaining how each can help you evaluate the marketing plan.

To complete this project, you must submit the Marketing Plan Strategy Template as a Word document. Your submission should be no more than 4 pages in length. Sources should be cited according to APA style.

Paper For Above Instructions

For this project, I will choose to develop a marketing plan for Chocolate Bliss’s new product: Gourmet truffles with fruit, herb, and flower extract infusions. This product choice aligns with current consumer trends favoring unique and artisanal products that provide a gourmet experience.

Persona (Target Market): To understand the target market for the new Gourmet truffles, research indicates a demographic primarily consisting of young adults aged 25-40, affluent and health-conscious, who value sustainability and are willing to pay a premium for high-quality products. Psychographically, this persona, which I will name "Sophisticated Sally," enjoys gourmet food, seeks out unique culinary experiences, and shares her finds on social media. Sally is also concerned about the quality and source of her food, preferring products made with natural ingredients.

Promotion: The marketing communication channels I recommend for Gourmet truffles are social media marketing and in-store tastings. Social media platforms like Instagram and Facebook are appropriate because they allow targeting of the desired demographic through visually appealing content that showcases the artisanal nature of the truffles. In-store tastings capture the attention of consumers who value experiential purchases, allowing them to taste the product before buying and creating a direct connection with the brand.

Price: To determine pricing, I recommend considering competitor pricing. Chocolate Bliss’s Gourmet truffles should be priced at a premium, reflecting their artisanal quality and the use of high-end ingredients. This pricing strategy draws on value perception while supporting the brand’s market positioning as a luxury chocolatier. The advantages of this strategy include setting a high perceived value and attracting affluent customers, while drawbacks might include the risk of alienating price-sensitive consumers.

Place (Distribution Channels): A recent change in the marketplace is the shift towards online shopping, particularly accelerated by the COVID-19 pandemic, which has affected how gourmet foods are distributed. E-commerce platforms have become essential for reaching consumers who prefer to shop online rather than in-store. Hence, I recommend building a robust online distribution channel through a dedicated website and partnerships with gourmet food delivery services, aligning with our target persona who often shops online.

Product Marketing: Marketing the Gourmet truffles should emphasize their unique flavors and artisanal crafting process. Using storytelling in marketing messages will resonate with consumers like Sally who appreciate quality and creativity in their food choices. Promotions should highlight the natural ingredients and health benefits without compromising indulgence. For example, utilizing content marketing through blogs and social media stories can effectively convey the narrative of the product.

Bringing this new product to the market will enhance the Chocolate Bliss brand by reinforcing its commitment to quality and innovation. By offering a differentiated product, Chocolate Bliss positions itself as a key player in the gourmet chocolate segment, which can potentially increase overall brand awareness and loyalty.

Evaluation: To evaluate the effectiveness of the marketing plan, I will use two quantitative tools: sales metrics and website analytics. Sales metrics will provide concrete data on product performance, while website analytics can show how well our online marketing efforts convert views into purchases. Qualitative tools will include customer feedback surveys and social media sentiment analysis. Customer feedback allows us to gather in-depth insights into consumer satisfaction and preferences, while social media analysis will provide a window into public perception of the brand and product.

In conclusion, the marketing plan for the new Gourmet truffles aims to create a strong market entry point while fostering the Chocolate Bliss brand in a competitive landscape. By aligning product features with consumer needs and leveraging effective distribution and promotional channels, we can set the stage for a successful launch and brand establishment.

References

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