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Principles Of Marketing Management Chocolate in the UK - Essay Example

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This report seeks to provide strategies and plans that can help further strengthen the company’s positioning and increase profits. The main products of the company are gift packs and customized chocolate packages delivered upon request or custom prepared at their retail outlets…
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Principles Of Marketing Management Chocolate in the UK
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Download file to see previous pages Thorntons' website is a strong source of sales and allows customers to pick and chose chocolates. Thorntors also promotes its new products readily. Unique season based product packages such as wedding favours are also highly demanded. The company provides chocolates of various ranges including Belgian, Winter, Viennese,etc. Chocolates of various types such as milk chocolate, dark chocolate, mint chocolate, etc., are also available for customers
This research paper seeks to analyze the current market standing of the company via a comprehensive swot analysis. The findings of this analysis shall be used to frame the marketing and positioning strategies of the company.
Thorntors chocolate has been in the UK market for over 100 years and possesses a turnover of 210 million pounds in the year 2008. Along with general retail outlets, Thorntons also sells its products through the internet, mail order and by using other commercial services.
Analyzing Thontorns in depth:-
Thorntors poses a challenging test to any marketer. The company boasts of its legacy, however, it faces increasing competition from newer entrants that threaten to torment its reign as a top chocolate company.
A swot analysis of the company shall help understand aspects that it can rely on and things it needs to work on to cement its position as the top chocolate company....
6) Premium brand positioning. Weaknesses 1)Retail Outlets’ failure to meet targets. 2)No customized products at retail stores. 3)History of problems with hand finished chocolates. 4)Weak performance by OWN Stores channel. Opportunities 1)Export market potential. 2)Product Innovation to counter economic downturn. 3)Discovery of new ranges such as biscuit desserts can help enhance brand equity. Threats 1)Fluctuating raw material and dairy prices. 2)Rising inflation and affordability issues. 3)Economic downturn and customer’s changing preferences. 4)Failure to address retail sales issue before competitors can gain advantage. Target Market and Seeking new opportunities:- Thorntons is a premium brand of chocolate that has established considerable brand equity over the 99 years of its existence. While the company welcomes and appreciates every walk in customer, there are specific people it targets with each of its innovative products. Kingston Upon Hull is the market that Thorntons seeks to capure this Christmas. The city is located in the East Riding of Yorkshire and has a population of around a quarter of a million people. Hull is home to around 97% local residents while a small minority group of within 1000 people reside in the entire city. The city boasts a high percentage of people who use personal transport over public transport and the economic conditions of the people are relatively good. There is however, a 6.2% unemployment rate which acts as a threat to potential market. Hull is also home to several types of restaurants, including Chinese, English, French, Italian etc (Hull and East Reading, 2011).The city acts as a busy port and economy is built around trading and seafaring. Considering the company’s premium positioning, it will ...Download file to see next pagesRead More
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