Importance of Marketing Planning for Expansion

Q1. Characteristics of marketing concept

Marketing planning is important for the multinational corporate firms to strengthen their position in the international all market and establish the brand by improving branding strategy and visibility of the organisational products and services in the market. In the recent era of globalisation, it is necessary for the company Clare’s Chocolates to develop appropriate marketing planning for expanding the business of chocolates and coffee across the international markets to gain high competitive advantage (Czoli, Jones and Hammond, 2019). In this regard, the three major characteristics of marketing concept are customer orientation, market research and marketing strategic planning, which provide a scope to the organisation to develop proper tactics for expanding their business and strengthening their position in the international food and beverage industry. Customers orientation is necessary, to acknowledge the actual needs and preferences of the consumers in the market as well as, it is necessary to conduct in depth market research to identify the competitive firms, available products in the market and the competitor’s strategy so that the company can develop unique strategic planning for further expansion of the brand and ensure proper retention of the loyal and long term customers.

Q2. Micro and macro environment of Clare’s Chocolates

Micro environmental analysis for the company Clare’s Chocolates can be done through SWOT analysis,

The macro environmental analysis for the organisation Clare’s Chocolates can be done through Porter’s five forces model,

Q3. Importance of market research and information gathering for Clare’s Chocolates

The importance of market research is,

Collecting themarketing trend

Understanding the changing demand of the customers

Acknowledging the actual needs and preferences of the customers

Developing successful strategic planning for promotional activities

Creating strong product portfolio as per the market trend (Shin, Kim and Yoon, 2016)

Q4. Ways to collect market information

It is important for the organisation Clare’s Chocolates to gather in depth data and information about the market so that it would be possible for the firm to develop effective strategic planning to promote their brands and establish the company successfully in the international market. There are two types of data collection, which are primary and secondary data collection method. The company should collect the primary data through interview process directly from the customers, where the firm should develop online questionnaire and conduct online survey by including the buyers, so that it is possible to understand the purchasing trend of the customer and their preference (de Luca, Pegan and Vianelli, 2020). On the other hand, it is necessary to collect the secondary information through online published articles and magazines such as Coffee culture weekly news, which provide accurate data and information about the chocolate and beverage industry. It is important to analyse the data, through both quantitative and qualitative data analysis technique. The primary data should be analysed through quantities data analysis technique, where the company can analyse the quantitative data through graphical representation, charts and statistical method for identifying the market trend for the chocolates products. On the other hand, the secondary data should be analysed through qualitative data analysis process to acknowledge the customer’s trend and market growth in near future.

Q5. Market segmentation and targeting in Clare’s Chocolates

The company needs to segment the market in terms of gender, economic lass and personal preferences. In this regard, the company targets the gender, male and female for their products including chocolates, coffee, and tea, hot and cold chocolate beverages. The organisation also targets the high and medium economic class who can afford the products of Clare’s Chocolates. As the price of raw materials is increasing over the years, the price of the products of Clare’s Chocolates is increasing slightly to generate profit margin and thus the company targets the customers from the high and medium economic class (Maciejewski and Mokrysz, 2019). Additionally, Clare’s Chocolates targets the customers, who have high intension to make purchase decision for the chocolates products. As per the market research, 17 million people in the UK drink the chocolates based beverages and coffee in winter, and thus the company targets this customer’s base for retaining them in long run. Moreover, the market research shows that, there is high demand of the customer for dark chocolates, and it also influences the brand to target this customer base to enhance their sales volume and maximise profitability. The company aims to create luxurious heaven where the customers can enjoy high quality chocolates, beverages and coffee and this segmentation and targeting would be beneficial for Clare’s Chocolates to strengthen their customer base and gain high competitive advantage.

Reference List

Czoli, C.D., Jones, A.C. and Hammond, D., 2019. Trends in sugary drinks in Canada, 2004 to 2015: a comparison of market sales and dietary intake data. Public health nutrition, 22(15), pp.2723-2728.

de Luca, P., Pegan, G. and Vianelli, D., 2020. Customer Experience in the Coffee World: Qualitative Research on the US Market. In Handbook of Research on Retailing Techniques for Optimal Consumer Engagement and Experiences (pp. 257-283). IGI Global.

Maciejewski, G. and Mokrysz, S., 2019. NEW TRENDS IN CONSUMPTION ON THE COFFEE MARKET. Zeszyty Naukowe SGGW, Polityki Europejskie, Finanse i Marketing, (22 (71)).

Shin, J., Kim, S.Y. and Yoon, J., 2016. Status of coffee intake in South Korea: analysis of 2007-2009 Korea National Health and Nutrition Examination Survey. The Korean Journal of Community Living Science, 27(1), pp.83-93.