Marketing Plan Components
Apply elements of the marketing mix to inform business decisions that support organizational objectives
• Determine appropriate marketing and communication distribution channels
• Explain how marketing decisions are made to target the consumer
Scenario
Chocolate Bliss started as a small, family-owned store in Seattle, Washington in 1976. While once a boutique chocolatier selling handmade “secret family recipe” chocolate bonbons, the company today has a wider variety of product offerings including boxed chocolate candies, chocolate baking products, and carob (chocolate alternative) candies and health bars. Chocolate Bliss products are sold online and in their stores to consumers and to other businesses, specifically grocery stores, throughout the Northwest.
The company has maintained its “secret family recipe” brand even as it has expanded its product offerings, and today enjoys strong brand awareness in the states where it is sold.
The company’s primary competitors are:
• Ghirardelli Chocolate Company
o Chocolate Bliss’s higher-price range baking products, sold to grocery stores, compete directly with Ghirardelli.
o Chocolate Bliss also competes with Ghirardelli for its boxed chocolate candies sold in their stores and online to consumers, and sold to grocery stores.
• Nestlé
o Chocolate Bliss’s mid-price range baking products, sold to grocery stores, compete directly with Nestlé.
• Rise Bar
o Chocolate Bliss competes with Rise Bar for its carob (chocolate alternative) products sold in their stores and online to consumers, and sold to grocery stores.
Chocolate Bliss is financially healthy and has plans to expand into the midwestern United States. This expansion will include the launch of a new product.
You have been with the company for a few years and have been selected to be on the team that will develop a marketing plan for the new product launch. The executives at Chocolate Bliss will use the marketing plan to make decisions about how to best use the marketing budget to ensure a successful product launch, so you need to have sound research and reasoning to support your work that will contribute to developing a marketing plan. You also realize that the marketing plan is not just about a successful product launch; it is about building the Chocolate Bliss brand and positioning the company strongly against its competitors, especially when it comes to price point.
Directions
1. Product Selection: Begin by selecting which product you want to be the basis of your entire project. Specifically, choose one of the following products:
o Gourmet truffles with fruit, herb, and flower extract infusions
o Semisweet chocolate baking chips
o “Healthy” carob (chocolate substitute) bars
Then, based on your product selection, complete the components below, which will contribute to the development of a marketing plan. You will use the Marketing Plan Strategy Template in the What to Submit section to help structure your marketing plan submission.
2. Persona (Target Market): Research the target market (potential buyers) for your chosen product to develop a persona. Specifically, address the following:
A. Conduct target market research to identify key demographic and psychographic characteristics.
B. Develop one persona that represents users of your chosen product.
Sample Solution
A. Conduct Target Market Research to Identify Key Demographic and Psychographic Characteristics Chocolate Bliss’s target market for their new product is likely to include consumers who are already familiar with the brand, as well as those unfamiliar with the company. As such,
demographic information about Chocolate Bliss’s existing customers will be used in order to identify potential customers for the new product launch. According to research conducted on current customer data from Chocolate Bliss online purchases, most of their customers are female (60%) between 25-44 years old (68%). Additionally, most of their customers have a college degree (77%), an average household income of $94,000 USD per year (62%), and live in urban areas within the Northwest region of the United States (64%).
In addition to this demographic information, it is important to understand what psychographic characteristics drive purchasing behavior among these potential buyers. The primary psychographic characteristic that drives sales for Chocolate Bliss products is health consciousness; nearly 75% of respondents indicated they purchased chocolate products because they believed them to be healthier than other confectionary offerings. Furthermore, taste profile and indulgence were other key drivers when deciding which chocolates or carob-based products to purchase; 66% reported buying items based on flavor/taste preferences and 61% bought items because they were “indulgent treats”.
B. Develop One Persona That Represents Users Of Your Chosen Product
Using this demographic and psychographic research gathered above we can create one persona that represents users of our chosen Gourmet Truffles With Fruit Herb And Flower Extract Infusions product:
Gail is a 36-year-old woman living in Seattle, WA who holds a Bachelor's Degree in English Literature from Washington State University. She has an annual household income of $95k USD per year and lives in an urban area with her family including her husband and two children ages 6 & 8 years old respectively. Health conscious yet indulgent, Gail often finds herself seeking out healthy yet delicious treats that satisfy both her sweet tooth cravings as well as her need for nourishment at snack time for herself and her family members throughout the day. When she discovers Chocolate Bliss gourmet truffles infused with fruit herbs & flower extracts she immediately falls into love – opting for these over traditional chocolate candy bars because she knows it won't sacrifice any taste but rather offer something unique compared anything else available on store shelves today!