Prepare a effective marketing plan for an organisation of your choice.
In today’s competitive business environment, marketing has been developed and it has become a significant element of business operations and processes. When a company introduces its new products and services in the market, it needs to create a marketing and promotional plan that includes different strategies which help the company to approach its targeted customers. Looking at its significance, modern firms are engaged in developing effective marketing plan for their fresh products (Frynas and Mellahi, 2015). It can be stated that formulation of effective marketing plan is necessary for the growth and success of organizations. The major purpose of this report is to develop a marketing plan for the organization that was chosen in the first assessment i.e. Jeff De Bruges. Jeff De Broges was found in the year 1986 by Philippe Jambon. This is a French organization and has its operations in various locations all over the world including Australia. The company has 284 stores in France and over 30 in international markets. As per the given case, the company is planning to expand its operations through a new product development strategy (Jeff De Bruges, 2018). This report includes the discussion about the marketing strategy that will be used by Jeff De Bruges in order to introduce this new product. In this, target market and positioning theory of the company is defined. Moreover, marketing strategies are discussed by using marketing mix framework. At the end, the components of extended marketing mix are discussed in the report. These marketing strategies will help the organization to achieve its marketing goals and entice more and more customers.
Marketing strategy is an important part of marketing plan which outlines the overall game plan for getting new customers and clients for the business. A marketing strategy of the company includes all the marketing objectives into a comprehensive plan. It should be drawn from extensive marketing research and emphasize on the appropriate product mix so that they can attain maximum revenue potential and sustain the business for longer time (Babin & Zikmund, 2015). Marketing strategy of a company includes different parts such as market segmentation, determination of target market, and development of effective positioning strategy and formulation of marketing mix strategies. Here, Jeff De Bruges Company is planning to introduce its new chocolates in the market i.e. Sugar Free Chocolates. The company will target a specific market for its new products.
For Jeff De Bruges, marketing strategies are recommended below:
In the process of formulating marketing strategies, first, Jeff De Bruges Company will determine its market segments by identifying their consumer characteristics. There are different characteristics of market segmentation which an organization needs to identify while targeting the customers. Market segmentation is the process of categorizing a market of customers into segments on the basis of different characteristics. These segments are created of customers who will react in similar way to marketing tactics and strategies and who share similar interests, locations and traits (Baker, 2014). For Jeff De Bruges, market segmentation for this new product is recommended below:
Under demographic segmentation, the company should target its customers on the basis of age, income and gender. However, currently this company is focusing on the medium and higher income customers but it should focus on the lower income customers as well. As it is offering sugar free chocolates so it should focus on the people of age group of 40 to 60 years. It should target both males and females in Australia so that it can enhance its customer base (Scarborough, 2016).
Under psychographic segmentation, Jeff De Bruges should focus on its customers considering their interests, lifestyle, social class, attitudes and personality. This company should provide its new chocolates to the middle class people and high class people who are very concerned towards their health. Company has identified that people are becoming very conscious towards their health and they are facing diseases like Diabetes. So, it will be better to target these people who can enjoy sugar free chocolates of Jeff De Bruges (Seringhaus & Rosson, 2012).
Under behavioral characteristics, the companies focus on their customers looking at different variables such as behavior, usage rate, decision making and their loyalty towards products. In order to offer sugar free chocolates, this firm should focus on the customers according to the preferences and expectations of customers. As mentioned in the first assessment, this company introduces its new products considering the needs and demands of customers. So, it should target the people such as occasional buyers. These are the people who purchase chocolates on any festival or gift the chocolates on any special occasions. In order to entice these people, Jeff De Bruges should emphasize on chocolates’ packaging as it needs to be very attractive and festive.
Under this dimension, this firm should offer its products in Australian market primarily. After successful establishment in Australia, it should plan to expand its business operations in nearby nations like New Zealand. It should target both the rural and urban locations of different nations (Wilson & Gilligan, 2012).
Target market plays a significant role for each organization to produce more revenues and profits in international market. Looking at above characteristics of market segmentation, Jeff De Bruges will emphasize on both the younger and adult generations who are under the age of 25 to 60 years. Recently, it is running its operations as small business so it should plan to expand its business in international market (Konstantas, Jeswani, Stamford & Azapagic, 2018). By identifying most suitable market segments, this company should focus on the customers who are seeking for taste of chocolates with health benefits. The people, who are suffering from diabetes, are the major customers for its sugar free chocolates. The above selected market segments are seeking for the chocolates which are sugar free and nutritious for them. Thus, these should be the primary targeted markets who are seeking for the benefits such as customer support, quality ingredients, nutrition etc. For its new products, Jeff De Bruges will be focusing on the customers by evaluating the needs and benefits that they are looking for (Clarence-Smith, 2016).
After determining the most appropriate targeted market, Jeff De Bruges will plan for positioning its new products in Australian and other markets. Positioning is the term that expresses how a new product can be placed in market. It shows that how the products and services of a business entity can meet the wants and demands of people in an appropriate manner which other brands cannot do. According to the positioning theory, it is the procedure to recognize the most suitable market segment for a specific product (Peattie & Peattie, 2009). It is a very important strategy that should be practiced by Jeff De Bruges so that it can develop the positive perception of customers towards its new chocolates. To place sugar free chocolates in market, this company focuses on the ingredients of products, brand image, strategies of competing brands and distribution channels. The theory of positioning expresses that it refers to the perception that a firm makes in minds of customers. It will differentiate its products from other brands (Hanssens, Pauwels, Srinivasan, Vanhuele, & Yildirim, 2014).
For effective positioning of sugar free chocolates in Australian and other markets, Jeff De Bruges should implement effective positioning approaches. It will support this firm to attain the interest and attention of customers.
The positioning approaches that Jeff De Bruges should implement are given below:
Physical characteristics approach is one of the most significant criteria that customers can consider while purchasing new products. In this case, people will prefer to buy chocolates by looking at their sugar free characteristics, flavors, packaging of chocolates etc. In this way, this firm will segment the market considering the benefits of products and features of products.
This is another approach of positioning that Jeff De Bruges Company can practice while positioning its new chocolates in the market. This approach explains various price and quality segments of its sugar free chocolates. By using this, it will determine different prices for different sizes and packing of chocolates. As mentioned above, this firm is targeting the people from middle and higher income classes so it should provide the chocolates on diverse prices. It will help the company to increase its customer base and enhance its brand image among the customers (Cinquanta, Di Cesare, Manoni, Piano, Roberti & Salvatori, 2016).
Under positioning theory, competitors approach is the most significant approach that Jeff De Bruges should utilize to position its sugar free chocolates among targeted customers. In this process, first the company should organize a research and development program so that it can analyze the needs and demands of customers and find out the strategies of existing competing brands. It should establish a direct communication with the customers that will help the company to attain a sustainable competitive advantage against other competitors (Recanati, Marveggio & Dotelli, 2018).
In this way, it will be right to state that Jeff De Bruges Company should utilize different approaches of positioning theory so that it can expand its business in international markets successfully (Gutiérrez, 2017).
Marketing mix refers to as the set marketing tools that firm adapt to meet its marketing objectives for their target market. The company makes use of different levels of marketing decisions that help them to grow in the market. Further, Jeff de Bruges needs to make the strategies for their new Sugar-free chocolates in the market. These strategies help the company in grabbing the attention of the customers and to attend the competitive advantage over the other brands (Baker, 2014).
Products are an item that is offered to meet the needs of certain people in the group. Jeff de Bruges offers the different kinds of products in the market in different flavors. This strategy shows that the company could use new Sugar-free chocolate that helps in meeting the needs of customers (Grant, 2016). The company manufacturer sugar-free chocolates in different flavors that help to meet the needs of the old age people and adults who remain diet conscious due to which they don’t consume the sugar contained chocolate. It could be possible that the company should make use of the attractive packaging while introducing chocolates in Australia.
The product includes the three different levels that are: -
Core products are the most respected offering of the company that offers the benefits to the customers (Frynas and Mellahi, 2015). Jeff de Bruges core products include their chocolates which are manufactured by them with the high quality of raw material. Further, presently it could be the new sugar-free chocolates that they are serving to customers as the major product. The company makes use of their core products to offer excellent quality and taste to their new and existing customers.
The actual level of the strategy reflects the physical and tangible benefits of the products that complement the core products (Grant, 2016). The new sugar-free chocolates of the company are complemented with different flavors, colors and packaging. Further, this has been found that people generally make a purchase at the time of celebration and occasions. Thus, they can make use of the sugar-free chocolate and can give special order for the flavors, taste and packaging.
This level of the products supports the actual product with the additional services that are offered by Jeff de Bruges. In this level, the company makes use of their website for making the sugar free chocolate available through online mode. Further, it can take the feedback of the customers after selling the products (Khan, 2014).
Price of the product is the amount that the customers pay to get the worth of the product that they are buying. Pricing of the products plays a vital role in the success of the Jeff de Bruges in the market. The pricing strategy that is suggested to the Jeff de Bruges is competitive pricing in which the prices are set by the company after analyzing the prices that are kept by the companies for the new sugar-free chocolates (Wilson and Gilligan, 2012). Further, this has been found that the prices for the sugar-free chocolates remain high. The company is at the growing stage due to which they keep the prices that are affordable for the customers so that they can bring the improvement in the Australia share and make their customer base strong. This means that they should make use of the different pricing strategies for the products in the market. Thus, they majorly target the medium and high-income group people. In addition to this, generally, the company provides the offers and discount to the customers at the festive season so that they can achieve the high sales which are sufficient to meet the goals and objective of the company (Grant, 2016).
Marketing Mix Strategies
Place or distribution of the products is one of the essential elements that are considered by the company while forming the strategies. The company needs to make their products easily accessible for the customers present in the market. To accomplish this, the company needs to develop an effective distribution network with the effective strategies of distribution for their new sugar-free chocolates (Lovelock and Patterson, 2015). In addition, Jeff de Bruges should make their products available in the supermarket along with the online stores. The shopping malls are suggested to the company because they remain crowded with the people as it leads to the sales of the chocolate. The effective distribution of the company will help them in gaining the profit and revenue for their new sugar-free chocolates (Rezende, Benassi, Vissotto, Augusto & Grossmann, 2015).
Promotion strategy is one of the vital strategies that are used by the company to appeal for their new sugar-free chocolates in the market. This has been found that Jeff De Bruges has strong promotional activities which include that company offer exclusive gifts for promoting products. Accordingly, it is suggested to the company to make use of the online and offline promotional activities. The major use of the online advertisement will lead to the rise in the demand of the products (Išorait?, 2016). Social media is one of the effective ways through which the sugar-free chocolates of the company can be promoted. The rise in the use of sugar-free will remain effective in targeting a wide range of customers. In addition to this, the company should make their products available on different online websites which will advertise and increase sales. Further, the company should make use of the advertisement on television and print media which could help the company to promote the products (Luca and Suggs, 2010). This will help the Jeff de Bruges in promoting their new product sugar-free chocolate in Australia. To accomplish this, the company should have the dedicated management team who can work on the weakness of the company and make it their strength (Andrews & Shimp, 2017).
Apart from above four components of marketing mix framework, there are three more components which have extended with the evolution of marketing processes. These elements are such as people, process and physical evidence. Marketing experts stated that nowadays these 7Ps added additional layer of depth to marketing mix. In addition to above marketing mix components, it is very important for Jeff De Bruges to focus on these three components (Išorait?, 2016). For this firm, extended marketing mix is recommended below:
In modern business environment, most of the firms are reliant on its people who are engaged in the operations. Having appropriate people is necessary as they are a part of business and products offered by them. At Jeff De Bruges, the company has managed its employees to assist its development strategy in its existing and new marketplace. For effective development of leadership competencies and abilities, it should conduct a training and development program so that they can be aware about the quality of chocolate ingredients (Davari & Strutton, 2014). They will know about the ingredients and processes which can be used to produce sugar free chocolates. Enhancement of skills will help the company to achieve its overall goals and objectives.
Extended Marketing Mix
Another important component of marketing mix is physical evidence which can help Jeff De Burges to entice more and more customers towards its new products (Afoakwa, 2016). At this chocolate manufacturer company, physical evidence can be practiced in form advertising tools and packaging of products. It should develop its stores where people can reach easily.
While introducing its new chocolates, Jeff De Bruges should understand that services and support to customers is a key determinant of developing the trust and loyalty among customers. The company should use effective processes in manufacturing of products. Moreover, it should develop its internal operations effectively (Barrientos, 2015). First, the company should test its products in the market by circulating the samples among its regular customers. Then, it should launch the products in the market.
From the above analysis, it is hereby concluded that it will be a right decision of Jeff De Bruges to introduce its sugar free chocolates in Australian market. The company should introduce its new products and services by targeting new customers which are identified in the market segmentation and target market segments. It can be stated that company will grow if it will use effective marketing strategies and tactics in new product and market development process. The above report evaluates that Jeff De Bruges Company should utilize the above mentioned marketing strategies so that it can approach its targeted customers and generate more revenues. These strategies will help the company to attain its overall business objectives and its vision in foreign market. It will be able to manage the sustainability in new business environments.
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