Chocoyum marketing plan

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Chocolate Marketing Plan

SUBMITTED BY

Mahesh Sherkhane (12397046)Section: A

DEPARTMENT OF MANAGEMENT STUDIESPONDICHERRY UNIVERSITY, PONDICHERRY – 605 014

Marketing plan for Chocolate

Chocoyu

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MARKETING PLAN

The chocolate industry is a billion dollar industry globally and is

constantly growing this is due to the wide range of consumer taste. Chocolate is extremely

popular in cooking and very widely used as gifts. The chocolate industry is highly

competitive with many large scale market leaders whom own majority of the market shares.

However potential growth into the industry is highly possible with the help of creating a new

trend, or unique specialty products. The customer dynamics has very little limits; this is

because of the wide range of chocolate products. Kids usually love chocolate, young teens

and adults love for chocolate isn’t any less, Valentine’s Day gifts and house warming gifts

usually involve chocolate, most celebrations from birthday parties to weddings also require

chocolate. The limitations of chocolate have no barriers; certain unique chocolates are known

to be from different regions of the world while different cultures have different takes on

traditional techniques to bake or serve chocolate.

Our new product ‘Chocoyum’ is our innovative chocolate mixture

that is produced to work as a substitute for all health conscious people that limit themselves

from their chocolate consumption not because they don’t love chocolate but because of their

concerns in regard to the health and obesity issue that is a side effect of consuming too much

chocolate they stray away from purchasing chocolate products. Some side effects that are

directly related to too much chocolate consumption are weight gain, sugar complications and

high potassium.


MARKETING OBJECTIVES

To increase potential sales through promotional programs planned through the year

especially during the holiday’s seasons.

Repackage so that it's new look will appeal to the customers considering that will

be tagged as a low calorie snack.

Continue to expand globally and have a stronger presence in local markets.

Promote their core brands through numerous TV and magazine ads.

To leverage existing products to new markets and consumers through the new collections

such as the Pieces Collection.


COMPANY SUMMARY

Since it is a start-up business, it has no retail location at present.

Offers 70%, bittersweet (bakers) and milk chocolate.

Choice of 30 flavours and combination of flavours in their chocolates.

Categories are Truffles, Fudges, Bars, Nuts, Biscuits, and Moulded Chocolates.

Sell premium chocolate gift baskets.

We also produce French pastries, macrons, in 15 different flavours.

MISSION OF COMPANY

The mission of ‘Chocoyum’ is to create a globally known brand for all chocolate

consumers worldwide.

VISION OF COMPANY

The potential growth for the organization is extremely high because of the newly

growing concerns related to dieting and fitness. Chocoyum’s goal is to serve as a healthy

alternative to chocolate products.


MARKET SEGMENTATION

While we anticipate a split between locals and tourists, all members of our target

market are between the ages of 10 and 60, and have a moderate to sizable disposable income.

TARGET MARKET

The target market for Chocoyum would consist of all the chocolate

lovers world-wide the product wouldn’t just be a niche product, rather its target group would

ideally consist of a broad group of demographics from young to old as well as crossing

between different nationalities. Furthermore the plan is to target the health conscious

chocolate lovers. A growing epidemic globally is obesity and other health issues that may

arise from consuming too much chocolate.


4 P’s

1. PRICE

The price range of our product isn’t in the low range of chocolate products however it

isn’t expensive either. The strategy of Chocoyum is to create a product that is affordable to

the large public and at the same time not too cheap as to maintain the brand image and

compete with the higher end chocolate producers in the market.

2. PLACE

The strategy is to create our product as to be globally recognized, to do so initially are

product should be preferred over the majority in our environment. To do so Chocoyum will

begin with a list of different advertisement and direct marketing techniques this is create

brand awareness throughout the community. After accomplishing this task the organization

will grow to spread into all the existing chocolate markets globally creating an international

chocolate substitute brand.

3. PROMOTION

The promotional strategies includes giving out free samples in large blockbuster

malls, adding deals such as buy 2 get 1 free. Chocoyum promotional strategies include a lot

of techniques to communicate offers to the general public. This includes television ads,

flyers, and billboards. Chocoyum strategy was to create a full out blitz into the market with

an aggressive promotional strategy because they believed the organization should be known

and the love for the product would follow. The public relations aspect of the organization was

also involved in promoting the products this was due to how the organization dealt with

certain press releases and to create a competitive edge over the competition. The company’s

values include creating a workplace culture that hold in high regard the environment.


4. POSITIONING

The positioning is to conveniently place our product in every grocery store in the

region. The ideal purpose is to place our product in as many stores worldwide such as

drugstores, supermarkets, connivance stores, vending machines, sometimes even at discount

stores and they even have specialty stores. The products can usually be found by the cash

register and in the candy aisles. These stores offer moderate to low customer service. The

drugstore and connivance store have medium to narrow product assortment while the full line

discount stores offers a medium to broad variety. The supermarket and the specialty store are

the ones that offer a broad selection.


SWOT

STRENGTH

New brand

Low on calories

Low pricing

Conveniently located

Healthy

Strong demand

Sales and promotion

Every market needs product

Brand positioning

WEAKNESS

Hard to get exported

High on quality demand

Product innovation

Hard to position properly

OPPORTUNITIES

Demand on a global scale

Harbour product

Local markets are strong

Easily accessible markets

Growing demand


THREATS

Many players in the chocolate industry

Compete with highly known authentic brands

Many big players in the league

Huge investments from competitors

Competing against several close competitors which have seniority in the same field


MACRO ENVIRONMENTAL ANALYSIS AND MARKET

ANALYSIS

MACRO ENVIRONMENTAL ANALYSIS

The economical and social parts are significant in this business environment.

The more people have money to spend, the more they can spend for expensive brands.

Consumers are ready to spend on quality for its image and the value it gives.

MARKET ANALYSIS

Bargaining power of customer:

Customers are really important to develop our market and they have a big power of

bargaining because of number of competitors in our market

Entertainment & Humor

Chocoyum marketing plan