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Strategic Evaluation for Thorntons - Case Study Example

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This work called "Strategic Evaluation for Thorntons" describes Thorntons as a public company, based in the U.K. The author outlines numerous advantages in the long run and the company’s sales and production. From this work, it is clear about key aspects of chocolate manufacturing firms in the U.K. …
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Strategic Evaluation for Thorntons
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Download file to see previous pages These products occupy a minor share at present. As a strategy to enhance sales, Thorntons shifted from its high street presence. This led to numerous advantages in the long run and the company’s sales and production enhanced. Few of the shops of the company have diversified themselves into becoming cafes (Thorntons Case, 2015).
The retail sales of chocolates in the previous financial year had fallen by 2.8%. However, confectionery firms witnessed stagnation. Hence, existing chocolate manufacturers, taking a cue from the market conditions are seen to either lower the prices of their products or to promote them at a larger scale to enhance sales (Thorntons Case, 2015).
A price hike in chocolates during the weak economic times facilitated such trading down by consumers in the chocolate industry. While the prices of grocery items increased by 0.5% only, the prices of chocolates increased by 2.5%. Companies such as Nestle and Cadbury implemented higher prices so as to offset their costs of production. As a result of such price rise, consumer spending upon chocolates had reduced. Consumers were seen to show greater preference and take advantage of discounted chocolates and other low priced chocolates. Such promotions and discounts were seen to impose much stress on traditional supermarkets. Also, many newly launched chocolates which were highly-priced was seen to do well initially but eventually displayed lower sales. Considering such market conditions, Thorntons determined to reduce the prices of their products and try to maintain their market position. Such a strategy facilitated Thorntons to grow considerably when most firms were seen to face financial troubles (Thorntons Case, 2015).
Apart from sales, health concerns were also a major aspect impacting the chocolate market. Major supermarkets such as Sainsbury, Tesco, and Aldi were seen to prohibit confectionery items from the checkout zones (Thorntons Case, 2015).
The overall spending of the consumers in the U.K retailing is benefiting a number of firms who operate in this segment. Similarly, the global chocolate market is seen to grow at 2% CAGR. In the coming years, it is expected that the market would grow at 3.25% CAGR. It is also expected that the per capita spending upon chocolates across nations would remain robust. Thorntons is counted amongst the top twenty chocolate manufacturing firms globally. Considering such economic conditions, Thorntons expects to establish itself as a fast-growing business and aims to achieve £15- 20 million values in sales (Thorntons Case, 2015). ...Download file to see next pages Read More
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