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MKT600 Marketing

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To enhance a clear understanding of the importance of marketing in modern business and to and provide a grasp of effective contemporary marketing practices;• To provide a theoretical overview of marketing theory and practical application of innovative marketing strategies;• To critically analyse all relevant factors affecting the exchange process;• To establish an insightful marketing strategy....

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Question Preview:

To enhance a clear understanding of the importance of marketing in modern business and to and provide a grasp of effective contemporary marketing practices;• To provide a theoretical overview of marketing theory and practical application of innovative marketing strategies;• To critically analyse all relevant factors affecting the exchange process;• To establish an insightful marketing strategy.

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This case study is of a chocolate manufacturing company Donald B having two stores in Melbourne, Australia. It also manufactures various other chocolate products such as confectionary items, marshmallows, cocoa products, drinking chocolate and much more. The brand has also collaborated with certain established specialty stores for selling its products. Through Assessment-1, we have already conducted an in-depth market analysis studying the buying behavior of consumers for the chocolate products being supplied by the brand. A detailed marketing environmental scan was also carried out to understand various factors playing an important role in the market analysis. Through this report, we would try to understand the particular target market of Donald B via market segmentation as well as gaining further insight into how the new business will be positioned. This would be backed up by various positioning theories and approaches that Donald B should follow. A positioning map would further help us understand the underlying mechanisms. We would also be discussing the various products and services that could be offered by the new brand and different levels of products that Donald B shall follow. This would be then followed on by recommending a pricing strategies, distribution strategies as well as promotional strategies. All aspects and parameters of marketing mix shall be well considered in this marketing strategy report. It would be noteworthy to point out that the perceptions of brand image of Donald B might change over time due to evolution of marketing strategies and techniques, various technological advancements as well as innovation (Poh Chuin and Mohamad, 2012). Marketing Strategy Report AnalysisIn the given case, devising appropriate marketing strategies for Donald B would be very important to promote its range of products. Various criteria such as branding, segmentation, positioning and marketing mix shall be discussed here with regards to Donald B. The main objective of Donald B would be to provide chocolates with rich ingredients and heavenly flavors. Many varieties of chocolates could be innovated and added to existing varieties as a part of marketing strategy. Donald B should have a vision to spread goodness by enabling people experience the mesmerizing flavors of its chocolates at reasonable prices (Sumathi, 2018). The mission statement of the brand should be that it should be able to emerge as a global leader in the chocolate industry, spreading happiness amongst people. Furthermore, the brand should focus towards manufacturing various types of chocolates with added flavors as well as many more confectionary items as per the evolving needs of the customers (Sumathi, 2018). Furthermore, the brand should focus on building a reputation that is based on quality for continuous improvement (Ratnnayake, 2018). 

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