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Strategic Marketing for The UK confectionery market - Term Paper Example

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Summary
Two products – chocolates and energy drinks are to be introduced in the UK market and the marketing strategy for these two products is presented below. The UK confectionery market is poised for growth following change in the characteristics that can be associated with a highly competitive market…
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Strategic Marketing for The UK confectionery market
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"Strategic Marketing for The UK confectionery market"

Download file to see previous pages SWOT
Strengths
 Confectionery sector is recession-proof
 Consumers engage in impulse buying because of targeted advertisements
 Chocolates considered an affordable, harmless indulgence (Adwan, 2003).
Weakness
 Rising obesity
 Rising prices
 Consolidation in the market
Opportunity
 Sugar-free confectionery fetches better margin for retailers
 This can be introduced for mainstream buyers and not just for the diabetics or the obese population.
 Preference for fair-trade products is high as main competitors switching to fair-trade confectionery (The Fairtrade Foundation 2010). Fair-trade public procurement has strong public support in UK.
Threats
 High cocoa price exerts pressure on profit margins
 Sugar-free products more expensive than standard products but gaining popularity
 Three main competitors with rising market share
Analysis
The opportunities and threats suggest that market for sugar-free confectionery is growing because of rising obesity. The company should focus on fair-trade and people would be willing to pay a premium price for it. Accordingly the marketing strategy should be as follows. ...
In the first year of operation it may not be possible to achieve any profits but efforts would be made to ensure no loss too is incurred. Marketing Mix Product – Premium quality sugar-free chocolates catering to a discerning client base as this is the market-demand. Fair trade would be used for production. Price – The price would not be kept too low because low pricing creates an adverse image of the product. To enter the market the right perception is important. Premium pricing attract the target segment but pricing would be formulate taking into account prices of competitors. Promotion – consumers have become conscious of ethical and fair-trade and hence all promotions would carry messages of fair-trade. Introductory slabs can be clubbed with other products such as energy drinks. Advertisements should be made through television, popular dailies, and through magazines. Advertisements should highlight sugar-free element to attract the conscious consumers. Consumer interest should be sustained by changing the advertisements often. Advertisements should be appealing as consumers engage in impulse buying. Place - Distribution should be through all retail outlets, social clubs. It could be sold through kiosks at supermarkets. Online distribution strategy is also picking up and gift packs should be made available through online orders. Energy Drink Background Obesity is on the rise in UK with. Obesity has been linked to the quality of food and drinks consumed, in addition to the sedentary lifestyle which prevents people from visiting the gym or engaging in any sort of physical activity. Due to the quality of food consumed people lack the energy to exercise. People ...Download file to see next pagesRead More
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