Executive Summary
The key role of a marketing plan is to outline the possible course of action and strategies undertaken and implemented by Anaheim Chocolates to ensure the firm delivers services to consumers. The key goal for Anaheim Chocolate is to expand and create brand awareness, increase sales, offer unique and quality services, and increase the market niche.The market plan incorporates environmental analysis, SWOT analysis, marketing objectives, marketing strategies, marketing implementation, and performance evaluation to enable the firm to achieve its objectives.
Environmental Analysis
The chocolate industry is described as a competitive market with high demand. The environment that affects consumption in the chocolate industry includes the high demand for chocolate, which has resulted in the intensification of cocoa farming (Bianchi et al., 2021). Chocolate production in the U.S. is characterized by high-quality productivity, ethical sourcing, and the adoption of improved, environmentally friendly operations.
These factors contribute to the conservation of the environment and sustainable development for chocolate production in the U.S. The productivity of chocolate adheres to economic and ethical production standards that include associative sustainable business models aimed at improving productivity. Specialty beans produce chocolate that enables consumers to enjoy high-quality standards.
Additionally, chocolate producers like Anaheim Chocolates have a primary role in educating and enlightening consumers regarding the consumption of chocolate. This can be done through advertisements or seminars. As a result, this minimizes unclear quality standards and unreliable markets that affect productivity, the supply chain, and the chocolate value chain (Cadby et al., 2021). By understanding these metrics, Anaheim Chocolates will be capable of developing strategies on how to widen their market niche, develop pricing strategies, and achieve production goals effectively
SWOT Analysis
In their marketing plan, firms use SWOT analysis to analyze and identify strengths, weaknesses, opportunities, and threats, such as competitors. It is a key strategy that firms use to identify key challenges that the business may face in the present and future (Basheer, 2021). Incorporating a SWOT analysis for the marketing plan for Anaheim Chocolates will enable the firm to concentrate on what it will pursue, compete favorably, and identify market gaps and opportunities.
Strengths
Brand Reputation
Since its establishment, Anaheim Chocolates has strived to create a unique brand characterized by favorable taste and quality production that satisfies consumer needs. Creating a good brand will create a good image for the firm, which will enable the firm to have returning clients, attract new clients, and create customer loyalty.
Product Diversification
Anaheim Chocolates produces a wide range of chocolate types, flavors, and fillings that enable consumers to enjoy their preferences. This creates product customization and cross-selling opportunities for the firm.
Creation of Unique Distribution Channels
The firm has created unique distribution channels with retail shops. This has enabled consumers to enjoy Anaheim goods since they have efficient and timely access.
High-Quality Products
The firm produces exceptional products that draw consumers’ attention.
Weaknesses
High Prices
The firm sells its products at a higher price than its competitors. The cost of production for Anaheim chocolates is relatively higher. This is transmitted to the final consumer, which may be an obstacle to price-sensitive consumers.
Lack of Brand Awareness
Anaheim Chocolate has narrow brand awareness outside the Anaheim region. This limited brand awareness affects the firm’s recognition in international markets, challenging its entry into these markets.
Opportunities
Sustainability
Clients are becoming sensitive to ethical sourcing and sustainable practices that firms use in production. Anaheim Chocolates will be able to use sustainable sources in its production, which will entice clients since Anaheim Chocolates’ production is different from that of other producers.
Demand
There is an increased desire for chocolates, enabling Anaheim Chocolate to expand the market by producing high-quality products that satisfy client preferences and desires.
Online Store
An increased enhancement in technology has resulted in the emergence of trending buying and selling through e-commerce. The online presence will enable the firm to reach consumers beyond Anaheim. This results in leveraging digital marketing and creating user-friendly online stores that will enable the firm to widen its market niche.
Threats
Competition
Any business must face competition, so Anaheim Chocolates will not be exceptional. The firm faces tough competition from global and local chocolate producers. Competitors pose severe threats to the firm since they may lower the prices of commodities. To compete favourably, Anaheim Chocolates should develop strategies by comprehensively analyzing indirect and direct competitors. This will enable the firm to develop critical insights that will enable it to produce unique products that differentiate it from its competitors.
Competition
Direct
The direct competitors for Anaheim Chocolates include Hershey and Mars. Products and services offered by Hershey and Mars include chocolate bites and bars aimed at increasing their market niches. Anaheim Chocolates concentrates on producing premium, handcrafted chocolate with an extraordinary flavour. The quality of goods produced by Hershey and Mars is high, which enables the firms to enjoy a vast market share of 33.5% and 26.1%, respectively (Wunsch, 2023).
These two firms create significant competition for Anaheim by challenging its market share. The two firms enjoy a vast market share because they advertise their products using different media channels that promote them to a broader audience. Anaheim Chocolates should adopt such strategies of developing advertisement campaigns through online media channels to widen its market share.
Hershey’s management has enabled the firm to grow exponentially. This is done through developing a corporate strategic plan, such as carrying out consistent research. This has enabled the firm to make decisions that have equipped it to sustain its customers (Alonso, 2023). Mars is enjoying good management since it is a private firm (Lubbehusen, 2023).
To put off competitors, Anaheim Chocolates, through its management, should create a responsive strategy, such as carrying out a cost-benefit analysis that will enable the firm to compete effectively. Both Hershey and Mars are located at the center of big U.S. cities, enabling them to enjoy a wide market share (Lubbehusen, 2023). This allows the firms to provide services by developing sustainable and socially responsible initiatives.
To compete favorably with big firms like Mars, Anaheim Chocolates should leverage its location to create a network of channels across the world. Hershey and Mars enjoy good customer service, with their customers rating 0.76 and 0.8, respectively (Comparably.com, 2023). This shows that the two firms offer quality services to their customers that satisfy their desires. The companies enjoy a good brand reputation and a huge customer base due to substantial market share and existence in the market for the longest time (Comparably.com, 2023). Anaheim differentiates itself by building customer relationships and customizing its products
Indirect
Indirect competitors for the Anaheim firm include Scooter Coffee and Bear Ice Company. These firms offer alternatives to consumption to chocoholics. These firms provide unique services and quality products to consumers. To compete favorably with its direct and indirect competitors, the Anaheim chocolate firm should adopt the latest technology that will enable the firm to improve its efficiency, stimulate its operations, and increase its competitiveness. The latest technology, such as robotics and 3D printing, will include automation that will offer a wide range of benefits, such as increased efficiency and minimized dependency on human labor, which can minimize production costs.
As a result, the company will produce quality goods that will maintain consumer satisfaction and loyalty. The company is focused on enhancing its product portfolio of confectionery and chocolate products. To compete favorably, the company should explore and produce other products, such as snacks, to enable the firm to engage in new market trends and satisfy its consumers. By adopting product diversification, the firm can attract potential clients and compete favorably.
Marketing Objectives
Marketing objectives for a marketing plan are measurable goals that enable the firm to achieve its targets. They create a critical road map for determining the execution of activities and planning for the firm, enabling the firm to identify and track its operations (Staff, 2022). Developing marketing objectives enables firms to bolster their brands, expand their geographical capacity to consumers, and build consumer relationships (Li et al., 2021). This has enabled Anaheim Chocolates to experience superior performance and gain a competitive advantage. The marketing objectives for Anaheim Chocolates include the following:
- Carrying out Ethical and sustainable practices.
- Offering unique products.
- Unique customer services.
- Quality premium production.
- Personalization and customization.
Marketing Strategy
Pricing
In the market where Anaheim Chocolates will operate, prices are commonly used. This is because pricing enables consumers to compare prices with different products and brands (Mohd Satar et al., 2019). Different ranges of products that compete with Anaheim include differentiation of products, brand positioning, and market niche targets.
In certain situations, like launching a new product, pricing can be used as a competitive tool to attract clients or acquire market share. The effect of pricing on demand for the production of chocolates for Anaheim includes affecting the costs of products, which may affect affordability and consumer attitudes towards products (Mehta, 2021). This may affect the attraction of consumers, which may affect the market share of products.
Factors Affecting Pricing Decisions
Factors affecting pricing decisions include organizational and marketing objectives, costs, other marketing mix variables, expectations of retailers and other channels, customers’ interpretations and responses to pricing, and legal issues.
- Organizational and marketing objectives. Organizational and marketing objectives should align with the pricing of the firm. This enables the firm to increase its market share, which promotes revenue growth.
- Pricing objectives enable the firm to maximize its profit, increase market share, and generate income channels.
- Costs. Costs can be classified into fixed and variable costs, which are vital determinants of pricing in the firm.
- Other marketing mix variables. Pricing should be incorporated with other marketing elements such as distribution, supply, promotion, and product positioning.
Expectations of Retailers and Channel Members
In distribution channels, the pricing expectations of retailers and channel members are considered since they contribute towards the firm’s operational costs.
- Customers’ interpretation and response to pricing. Information on how customers receive and respond to pricing strategies and commodity prices is essential.
- Competition. Analyze strategies used by competitors to enable you to understand how to set price points and landscapes for your products.
- Legal issues. Ensure you comply with the regulatory requirements related to pricing in the market to avoid conflicts with the government and responsible authorities.
Pricing Objectives
The pricing objectives that can be put into the spotlight include compliance with the firm’s financial goals, focusing on market share, the ability to satisfy the needs of the clients, and the capacity to increase the firm’s market position. I expect pricing to increase the market share and maintain the firm’s cash flows to support market and organizational objectives. Pricing is needed for the survival of a business since it enables the company to sustain itself.
Pricing is needed for the firm to attain an inevitable return on investment since it enables achieving profitability. Pricing will help the firm increase its market share, enabling it to reflect on the quality and value of chocolates. Pricing will help the firm maintain the status quo and signal the productivity of high-quality goods since it enables firms to invest in producing quality goods aimed at the firm’s growth (Cornelisse, 2023).
The firm aims to achieve profitability, maintain reasonable use of resources, and minimize costs. Members of Anaheim’s target market can perceive pricing for chocolate products, are willing to pay for them, and give feedback. The basis of pricing that Anaheim Chocolates will use is cost- and demand-based pricing. Using cost-based pricing will enable the firm to cover its costs through pricing and acquire profits, and demand-based pricing will allow the firm to align prices with the elasticity of demand.
Anaheim Chocolates will not produce new products; therefore, the firm will consider numerous options for its productivity. One strategy is differential pricing, which involves selling products at different prices in different regions or customer segments. Another strategy is product line pricing, whereby the firm offers numerous products with varying prices.
Another strategy is the psychological pricing technique, which involves lowering the price of a commodity by a small margin (Heaslip, 2021). For example, if your competitors sell a product at 10 USD, Anaheim can sell it at 9 USD. This will attract more consumers to like their product, increasing sales.
Table 1 – Marketing Implementation
Table 2 – Market Budget
Performance Evaluation
The key performance evaluations include the following:
- Key performance standards.
- Engagement of customers.
- Satisfaction of customers.
- Revenue sales.
- Return on investment.
- Market share.
Anaheim will use different strategies to monitor performance and make changes. This includes carrying out regular data analysis that will enable the firm to identify areas that require changes and make the necessary changes. Carrying out regular reviews will enable the firm to determine its effectiveness and plan accordingly.
The firm will make decisions based on data to identify areas that need adjustment and make effective changes. Additionally, the firm will analyze its competitors, allowing it to identify market gaps and threats (Benzaghta et al., 2021). This will make the firm identify possible courses of action that will enable it to remain competitive and sustainable.
References
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