Advanced Diploma Of Management Overview

Dsecribe about the Advanced Diploma of Management.

Cocoa Delight, a chain of dark chocolate stores in Melbourne specialized in making unique, creative, and handmade dark chocolates and was founded in 2000. The company was established with 22 stores in the most popular city in Australia – ‘Melbourne’ and now they were targeting for increasing their branches to 100 around Australia. The Company process more than ten types of best Cocoa from different nations and thus produce large varieties of dark chocolates tailored specifically to the dietary requirements. Considering the Australian food and beverage industry, none of the other competitors was having this type of innovative process of making gourmet handmade dark chocolates.

According to the annual report, Cocoa Delight was on the path of becoming a national retail brand within the next 5 years with it's high-quality and unique dark chocolates as well as due to the highly skilled and dedicated staff who is providing excellent customer service and satisfying the customers’ needs effectively (Frow & Payne, 2007).

Assuming the marketing manager of Cocoa Delights, which is a chain of store in Melbourne selling dark gourmet chocolate, the author would incorporate the yearly report that is as of late displayed by Cocoa delights. This report contains the situational analysis including PEST analysis and gives clear requirements of legal and ethical factors in the organizations. The strengths, weakness, opportunities, and threats of the market were also analyzed according to the market structure and requirements. 

• Introduction 

• Mission or Goals – The mission of Cocoa Delights is to become the leader in the whole Australian market with their premium quality gourmet chocolates and maintaining the promise to do fair business with local and international suppliers and promoting a sustainable environment. Other goals of the company are to promoting continuous improvement, reducing ecological footprints and work with sustainable behaviour.
• Vision – The vision statements states that the Cocoa Delights will expand in the Australian market with their high-quality chocolates, blending imported cacao with local sugar, fruit, nuts and dairy products. Cocoa Delight will produce large range dark chocolate with greater varieties emphasizing on the health benefit and customer preference (Clower, 2014). This will make them a unique organization which cans satisfy the need of the national market of Australia. 

• Purpose – 

• Reducing environmental impact by improving production and distribution processes.
• To expand in every city in Australia and becoming the high-quality Australian chocolate brand.
• To make and establish themselves as a national retail brand for the chocolate within 5 years.
• To communicate the advantages of Dark chocolates in the medical terms through social media and promotion (Quesenberry, 2015). 

• Values – 

• Promoting excellent customers service - so that the customers can be retain for the longer period of time (Lemke, Clark & Wilson, 2011).
• Maintaining quality and sustainability - which will help in making a strong brand identity.
• Diversify with varieties in chocolate, expansion and growth – to provide economy of choices and selection.
• Encouraging innovation and creativity using handmade dark chocolates – helps in providing an edge over the competitor
• Promote leadership programs with self-direct teams – helps in the development of staff which improves customer service (Loman, Vatland, Strickland-Cohen, Horner & Walker, 2010).
• Customer oriented management – Raise expectation of customers by providing quality satisfaction. 

• Strategic directions – 

• One of the main and important strategic decisions is to position Cocoa Delights as the leader in making dark premium hand-made chocolates and increase their market reach in the following 5 years.
• Next strategic decision is in the direction of creating a huge customer base through a loyal customer segment and referrals(Stringfellow, 2018).
• Reducing the advertisements costs by placing it in the daily newspaper which can attract more people and also online advertisement will be done on famous websites only.
• Create awareness regarding the benefits of dark chocolate with the dietary requirements.
• Offerings to the public by free samples and tasting sessions to attract them towards the gourmet chocolates.
• Double-digit rise in the growth rate each year.  

• Targets – 

• Within five years, establishing the brand as a market leader in the country.
• Within the next three years, becoming the national and domestic retailer by making customer mindfulness for the gourmet dark chocolates. 

• A brief summary by meeting with CEO

After establishing various strategic directions for the company, there is a meeting with the CEO of Cocoa Delight for the discussion of the marketing design so that he can audit the strategic plan. The aim of this meeting is to find out the extended objectives to enhance the company marketing for the following five years. Some important aspects were being procured –

• What will be the development objectives?
• Factors affecting internal and external elements of the organization.
• How will be government new policy will affect the company operation?

At last, it is been clearly visualized the company vision, strategic plan and the problems they are facing and this all information can help in framing the next structure of the report.

• Situational Analysis ( including PEST analysis) 

• PEST analysis
• Political factors – The government of Australia promoting a policy which is based on the conservation of energy usage and the management of waste. Before this policy, the company has made their shop with the design to be brilliantly bright which help the customers to shop comfortably. This makes high uses of energy and power due to lights and air-conditioning. So, to comply with this policy and to please the customers in the meantime, the company needs to bring some bright ideas in the satisfaction of both sides.
• Economic factors – The development of the company will bring more job opportunities for people as the country is facing a high rate of unemployment with 5.8% and this rise in interest rates will also affect the demand of the chocolate products.
• Social factors– The social aspect of Cocoa Delight is well good enough as it is constituted a solid market as a survey demonstrate that more approx. 58% of the general population can recall the brand easily and this indicates that the faithfulness with the chocolate is high. Cocoa Delight has to maintain this pattern as in general, most of the people in various parts are slanted towards the quality chocolate.
• Technological factors – Due to the delay in the broadband rollout, it is required that IT division has to think for the reinforcement to make it set up. These setups will later-on help them to make their presence online with various internet tools of promotion like digital marketing (Ryan, 2016). Also, Internet retailing selections are growing and most of the retailers taking benefit of this new present technology. 

• Legal and ethical requirements

As time to time, the government implements and changes various policies which may affect a business organization in the negative or positive way. The new government regulation based on the efficient use of the energy and focuses on waste treatment so that to reduce the impact on the environment.

It is now mandatory for the existing and new companies to must reduce power consumption by the effective use of air conditioners and lighting. This will help the organization to save various costs and also improve the condition of the environment. But there is a need for deep understanding for the business firm to find a new solution that can satisfy both sides of the coins.

Considering the ethical issues and according to the government wishes, the national firms must specify the product information on its packaging with all necessary ingredients information and the government wants that the industry should be self-regulated complying with these issues rather than forcing and passing laws for that. This will also help the business firm to be socially strong as the goodwill and reputation will be increased.

Course Structure and Duration

Cocoa Delight needs to focus on national suppliers instead of local suppliers for finding quality raw-materials source so that it can make high-quality products. The company must take the advantage of greater geographic benefits to save cost. Along with this, the company should also focus on the sustainable development, waste treatment and the efficient usage of the electricity. For the purpose of saving the cost, they have to follow an effective promotional channel for the advertising whether on the internet or in the daily newspaper.

• SWOT analysis 

• Strengths – Cocoa Delight has the most professional and talented employees and staff which give excellent customer service. They have great and well-maintained shops which provide customers with a comfortable place to shop with good quality dark chocolates. Also, as per the survey, they have a high level of loyal customers. The company is both innovative and creative in making dark chocolates with different varieties. The lower price of these chocolates and easy access to the customer is the major advantage for the company. The extensive product range and economic manufacturing technology are also constituted as strength for the organization.
• Weakness – The main weakness of the company is their limited budgets for doing advertising and they are continuously struggling for the funding (Moriarty, Mitchell, Wells, Crawford, Brennan & Spence-Stone, 2014). They also lack in some part of the brand awareness as well as in online presence. Most of the customers of the dark chocolates are not aware of the health benefits of eating dark chocolates (Varghese, 2016). The company also has less male and child customers’ base and also have fewer outlets in the city as compare to its competitors. Cocoa Delights is a young company and thus not as strong as reputation like older brands in the city.
• Opportunities – The growth opportunities are very high in number for the company as the social trend of chocolate eaters is rising up against expectations (Fuchs, Steinhilber & Dohnke, 2015). Also, they are the best seller in terms of selling the dark gourmet chocolates which give them an edge over the competitors. As the CEO also stated that their mission is now to become a national retail brand by satisfying the customers with their unique and creative dark chocolates and this clearly shows that their strategic plan is ready to come in light. They are also focusing to advertise their products via local daily newspaper and magazine to attract more customers. If the market budget will increase, their revenue and sales will definitely show growth in numbers. Also, many of the competitors are not Australian owned which can help the company as the customer sentiment is always more towards the parent or Home County.
• Threats – The Company is having a threat from the competitors as the competitors are selling chocolates imported from other countries with poor quality but low prices. They are also having competitions from other nation’s chain of Australia who is also selling dark chocolates and rising interest and unemployment rates also pose a threat to the company. Others possible threats can be the company narrow advertisement plan due to the budgets, the possibility of a recession in the market and changes in import regulations and the policies in the food and beverage industry (Sharma,Teret & Brownell, 2010).  

• Evaluation of the effectiveness of previous marketing undertaking 

• Increase in performance against their strategic plan (Profit) – The Company profits now stand for an account of 46% against 63% set objectives and this clearly shows that they have to achieve their sales growth objective and they also have a long list of loyal customers (34,500) which they achieve through loyalty and referrals programs (Dick & Basu, 1994). The company survey indicates that around 58% of the general public is easily able to recognize the brand which is a great achievement and this shows that the company has established strong brand identity in the market. 

• Critical success factors – The Company is needed to increase the imports to their discount factor (Kasahara & Lapham, 2013). Another necessary factor is that they have to reach the target market segment by adverting online or on television. Creativity and innovation in producing products and providing quality services under professional and moral standards of conduct are also critical success factors (Valentine & Fleischman, 2008). 

• The lesson they learned and the key areas for the improvement – The key areas where they need to improve is the effective allocation of funds for electronic advertisement. The lesson they learned is the importance of PR which help the company to lead many articles on their unique offerings. Also, there is an increase in the social trend of eating chocolates at a higher rate than expected (T?ut, B?ban, Giese, de Matos, Schupp & Renner, 2015). 

As a marketing manager for Cocoa Delights, the developer’s written statement was – ‘Cocoa Delights’ is the company who is self-reliable for the constant improvement of all the aspects of our business irrespective of the excellence of the product and services but also our social sustainability, environment and business. We are truly a sustainable organization and providing a significant value to our customers. Our vision is to put our thoughts and beliefs in actions through various programs and focus on other activities also like achieving social objectives, managing the environment and promising a commitment with the shareholders by taking the company to the pillar of success. In the future, we will move from local service providers to the national provider.

In 2016, The Company built a significant retail presence with the stores in Australia. The Australian government is also pushing the business to focus on sustainability and environmental issues under waste treatment and conservation of energy (Epstein, 2018).

Hence, there is a need to procure some innovative ideas and plans that can help the management to solve these issues. We also need to provide products and services according to the needs and wants of the customers within the framework and in a sustainable way. Cocoa Delights are proud to be an Australian made company and thus we also comply with all the government rules and legislation. However, we need to expand our business to the whole of the nation rather providing local services in a few cities and this can help us to gain wider geographical advantages like saving of huge operational costs (Stevenson, Hojati & Cao, 2007). We also need to choose the right media for the purpose of advertising under the national scope (Brice & Carpenter, 2008). As reaching for 63% of average profit, we expect to grow and expand through diversifications. In last, we need to focus on raising the revenues by using cost-effectiveness strategies (Meehan, Simonetto & Montan, 2011). 

• Marketing Objectives 

1. Brand Awareness

• Compatibility
• A nationwide retail brand
• The Company Marketing Plan (2010)
• Choice of domestic media
• Management of Brand Awareness.
• Cost Management by expanding geographically.
• Cocoa Delights Standards  

• Consistency
• The above-mentioned standards need to be implemented in each segment of the market.
• Encouraging and promotion in television hike.
• Build and maintain consistency with the consumer behaviour and Competitive Behavior (2010).
• Chairman of the Directors of Boards.
• In each new market, there will be $1.1 million with the effective cash support in the arrangement. 

• Equipped
• In financial planning, 5% of revenue needs to be allocated.
• To make the brand visible in stores, publishers, vehicles and PR articles.
• $1.1 million for each new market – publicity efforts of television.
• Confirming the collective approval with the Competition and Consumer Act 2010.
• A frequent criticism from research and studies. 

• Legal
• The strategic plan of the management should be in compliance with the Competition and Consumer Protection Act 2010.
• The company needs to find other ways of providing better services due to the new law of the government of waste treatment and energy conservation. 

1. Target Category

• Compatibility
• Dominate the market where the operation is done by Cocoa Delights.
• Cocoa Delight will establish as a top chocolate retailer.
• Retain old customers and attract new customers (Deng, Lu,Wei & Zhang, 2010).
• Customer signup for the loyalty program. 

• Consistency
• Working under the umbrella of the joint venture can help the company in the establishment of marketing channels.
• The company services will exceed the expectations of the clients.
• Corporate governance can help the company in achieving the sales objectives which can be done by the market speculation with the help of handmade catalogue (Tricker, & Tricker, 2015). 

• Equipped
• Appointment with the national consultant Holt & Burrows.
• For funding the budget, 5% of the revenue is needed to be allocated.
• Sharing space for ads, PR articles and billboards.
• With the joint venture partner, the company needs to work closely (Killing, 2013).
• A full marketing proposal will be settled.
• The budget allocated and set in initial advertising will include an item from this category. 

• Legal
• Self-governed country due to not forcefully implementation of the law.
• Compliance with the rules set by ACCC for the dominant market player in the industry. These are a set of rules and policy regarding the competition in the industry.
• Cocoa Delights veto rights. 

• Strategic long-term  Objectives 

1. Long-term goals – Awareness of the brand.

• Key Performance Indicators (KPIs) – a tool to evaluate the success of the business aligning with the performance.
• Revenue growth and inventory growth rate accomplished.
• Already captured market will spend 20% of the advertising budget so that brand awareness can be increased.
• New markets are also achieving sales objectives as it was shown by the report stating of 30% of sales of chocolate.
• To attain 18% market share break-even the goal of 3 million should be achieved. 

• Risk Management – This aspect is very significant to the operation of Cocoa Delight. It helps the organization to prioritize the risk so that the effect of uncertainty can be minimizes. Firstly, the feedback from Holt & Burrows should need to be regularly checked. Secondly, all executives and managers are duly accountable for prominently showing the brand. In last, the business also needs compliance with the Competition and the Consumer Act, 2010. This assessment of risk management helps the organization in achieving the vision and mission effectively (Strbac, 2008). 

1. Long-term goal – Market Share

• Key Performance Indicators (KPIs) – a measure to tell how effectively a company is achieving its goal.
• Establish and opening new stores according to the marketing channel.
• 30% of chocolate produce by machines states that new markets are doing well.
• 18% market share before the breakeven level of sale is certain to guarantee.
• Each capital city with 10% market in which Cocoa Delight operates. 

• Risk Management – In this aspect, Haigh’s Chocolates with Cocoa Delights veto (legal contract) will acknowledge that all plans relating to marketing are conducted with prominent ethics and in compliance manner so that it will help in the risk management. Also, the company should visit the national consultant Holt & Burrows. It also needs to ensure that all marketing plans and strategy moving forward with the set rules by ACCC for the players in the industry to attain more market share. 

• Summary of CEO meetings 

Meeting Date: 03/08/2018        Meeting Time: 15:00pm to 18:30pm

Present at Meeting:

• Marketing Manager: (insert your name here)
• CEO: (insert your Assessor/teacher name here) 

• Minutes of Meeting (live written record of a meeting) 

• 1^st: Marketing objectives of the organization like market share, brand awareness and category market.
• 2^nd: Response from the CEO includes two most important aims. Note of identified long-term objectives to be further developed.
• 3^rd: The plan to improve the company based on these goals. 

References

Brice, D. G., & Carpenter, S. (2008). U.S. Patent No. 7,443,295. Washington, DC: U.S. Patent and Trademark Office.

Clower, W. (2014). Eat Chocolate, Lose Weight: New Science Proves You Should Eat Chocolate Every Day. New York: Rodale.

Deng, Z., Lu, Y., Wei, K. K., & Zhang, J. (2010). Understanding customer satisfaction and loyalty: An empirical study of mobile instant messages in China. International journal of information management, 30(4), 289-300.

Dick, A. S., & Basu, K. (1994). Customer loyalty: toward an integrated conceptual framework. Journal of the academy of marketing science, 22(2), 99-113.

Epstein, M. J. (2018). Making sustainability work: Best practices in managing and measuring corporate social, environmental and economic impacts. New York: Routledge.

Frow, P., & Payne, A. (2007). Towards the ‘perfect’customer experience. Journal of Brand Management, 15(2), 89-101.

Fuchs, T., Steinhilber, A., & Dohnke, B. (2015). Apple or chocolate—Intentional and social-reactive processes in eating behavior among adolescents. Social Psychology, 46(5), 255.

Kasahara, H., & Lapham, B. (2013). Productivity and the decision to import and export: Theory and evidence. Journal of International Economics, 89(2), 297-316.

Killing, P. (2013). Strategies for joint venture success (RLE international business). New York: Routledge.

Lemke, F., Clark, M., & Wilson, H. (2011). Customer experience quality: an exploration in business and consumer contexts using repertory grid technique. Journal of the Academy of Marketing Science, 39(6), 846-869.

Loman, S., Vatland, C., Strickland-Cohen, K., Horner, R., & Walker, H. (2010). Promoting self-determination: A practice guide. Kansas City, KS: National Gateway to Self-Determination.

Meehan, J., Simonetto, M., & Montan, L. (2011). Pricing and Profitability Management: A Practical Guide for Business Leaders. United Kingdom: John Wiley & Sons.

Moriarty, S., Mitchell, N. D., Wells, W. D., Crawford, R., Brennan, L., & Spence-Stone, R. (2014). Advertising: Principles and practice. Australia: Pearson.

Quesenberry, K. (2015). Social Media Strategy: Marketing and Advertising in the Consumer Revolution. United Kingdom: Rowman & Littlefield Publishers.

Ryan, D. (2016). Understanding digital marketing: marketing strategies for engaging the digital generation. New york: Kogan Page Publishers.

Sharma, L. L., Teret, S. P., & Brownell, K. D. (2010). The food industry and self-regulation: standards to promote success and to avoid public health failures. American Journal of Public Health, 100(2), 240-246.

Stevenson, W. J., Hojati, M., & Cao, J. (2007). Operations management (Vol. 8). Boston: McGraw-Hill/Irwin.

Strbac, G. (2008). Demand side management: Benefits and challenges. Energy policy, 36(12), 4419-4426.

Stringfellow, A. (2018). Customer Retention Strategies: 46 Experts Reveal Their Top Tactics for How to Retain Customers. Retrieved from: https://www.ngdata.com/how-to-improve-customer-retention/

T?ut, D., B?ban, A., Giese, H., de Matos, M. G., Schupp, H., & Renner, B. (2015). Developmental Trends in Eating Self Regulation and Dietary Intake in Adolescents. Applied Psychology: Health and WellBeing, 7(1), 4-21.

Tricker, R. B., & Tricker, R. I. (2015). Corporate governance: Principles, policies, and practices. USA: Oxford University Press.

Valentine, S., & Fleischman, G. (2008). Ethics programs, perceived corporate social responsibility and job satisfaction. Journal of business ethics, 77(2), 159-172.

Varghese, P. (2016). Cocoa delights the heart with good health!. Retrieved from: https://innotrendz.com/nutrition/cocoa-delights-the-heart-with-good-health/

Zimmerman, A., & Blythe, J. (2013). Business to Business Marketing Management: A Global Perspective. New York: Routledge.