We are proud of our differentiation as a New Zealand and family—owned and operated company that makes all of our chocolate from our one factory in Wellington, from beans to bar. The threats include: highly competitive global chocolate market, larger companies can possibly buy…. Six years later he started manufacturing chocolate confectionery, selling it directly to customers. This project also contains the analysis of various strategies chocolate companies use to attract customers towards their brand or a particular product of their brand. Keywords: Competitive edge, gluten free, Healthy lifestyle, social media impact, healthy chocolates. Ferrero used to have wholesalers who distributed or delivered its products in the market but with time they started selling directly to customers and stopped selling through wholesalers. The New Zealand Medical Journal Online , 131 1473 , pp.
Whittakers uses a combination strategies, rather than just one of the two. The actual cost price needs to revised and monitored carefully to ensure organizational goals are achieved and profitability promoted. The company has done hundreds of collaborations with other companies as well. This problem is significantly important because environmental and health awareness has always been among the biggest concerns of chocolate customers. Share your views in the comments section below. This is important as introducing and producing more flavors and sizes will enable consumers to have a broader range of choice, and consequently increase sales volumes and profitability No 2014, p. Using Chinese travel blogs to examine perceived destination image: The case of New Zealand.
The new product introduces Ferrero into the chocolate tablet category, available in three flavors: milk, dark 55% cocoa, and white. Distribution In the market, Whittaker has established itself as the primary distributor of fresh and high-quality chocolate; it does this through significant chains of supermarkets and specialty shops and chocolate outlets. In addition, the market segmentation, market positioning and target market that Whittaker is concerned with is also discussed. Alcohol flavors not only appeal to buyers of regular alcohol lovers, but it also attracts people who are willing to try new tastes Rahma and Areni, 2014. Digital and social media marketing allow the company to engage with its customers directly. Following the success of his business, Milton Hershey turned his attention to charitable causes by establishing the Milton Hershey School, which provided free housing, medical care, and education to children in need. And "now also entering the Japanese market 5 ".
Whittaker Chocolate Case Study Solution for Harvard HBR Case Study
Cad bury provides its products globally and has segmented it according to the income and behavior of the consumer. For example, in preparation for entering the Japanese market, in order to attract Japanese consumers, it is necessary to add a matcha taste to the chocolate to make changes. University and college students are among the highest consumers of chocolate, especially during such days as Valentine Brown et al. Whittaker Chocolate is known as the second-largest chocolate brand in New Zealand The Free Encyclopedia, 2019. The Hershey Company, in my opinion, has more of the competitive advantage simply based from profit and sales, as well as, its advancement in social responsibility. These strategies are helping brands gain more profit margins and grow with a more positive brand image. For geographies, it would be based in Australia.
Export trade is developeding now and plans to involve sustainable development strategies in the future. The target population for the particularresearch will be the people aged between 22- 45 years old. International Expansion of Brands By Realization Of Co-Branding Strategy. And they pull the customers towards these products through advertising and promotional Product Stricing Strategy: Ferrero Rocher As a product mix pricing strategy, Ferrero Rocher uses the product line pricing, which means setting prices across an entire product line. Because of this, we know Whittaker 's uses extensive distribution and should continue to do so. However, premium chocolates are gaining traction, with consumer preference growing toward premium dark chocolate. This would attract consumers who are concerned about the origins of their food.
Remaining sweet for a century: Behind Whittaker's marketing strategy
Price The pricing strategy that Whittaker follows is essential since it is built around the five crucial components of pricing; they include costs, competition, customers, company objectives, and channel members. So even if Whittaker products increase prices because of increased costs, consumers tend to pay higher prices for health products. The company produced finest chocolates with finest ingredients insourced from Ghana, produced in an ethical way. This will also be beneficial to Whittaker because it will enable the business to understand the production processes adopted and practiced by the competitors and compare with its own. It should also focus on gaining a more extensive consumer base and also meet the ever-growing market demand for chocolate.
. On the other hand, due to the high perishability of chocolate products and the transportation problems of international trade business, a large amount of costs is incurred. Heavy investment and marketing efforts directed to cash cows is unnecessary unless there is opportunity for a very good return. Moreover, plant virus contamination and pests cause 30 to 40 percent of global cocoa production lost per year 6. The reason for Whittaker's success is their company's unique production proposition. The marketing team should also convince customers and potential customers by mentioning that the products use dark chocolate, with at least 50% cocoa solids, and this increases the number of cocoa flavanols present in the products. .
Whittaker Chocolate Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies
For the new target market, Whittaker should target university and college students, especially during lunch hours, evening, and weekends. Product Whittaker should seek to introduce smaller bars of chocolate, such as 10g and 50g. Restrictions on raw materials will result in reduced production and increased costs, which will lead to a decline in sales. With Whittaker as a part of the fair trade agreement, it would strengthen the relationship with suppliers. Break the usual will bring about changes in sales and the creation of a good brand for Whittaker. Adding healthy products to chocolate to process quality products which will increase sales of more. In 1913, he established a partnership with his two sons, Ronald and James Cultural Differences Between New Zealand And Gulf Nations Essay Abstract This report identifies various cultural differences that leading to choice of different entry strategies adopted by New Zealand companies when entering the Middle Eastern market.
In addition to this, the secondary research will also be used in order to develop abetter understanding of the factors and the constraints in developing the new product strategy. Industry Overview The industry that Whittaker operates in would be Chocolate and Confectionery Manufact. Whittaker Chocolate has a wide range of products including destinations, artisans, slabs, chunks, K Bar, etc. Current market strategies for Whittaker Chocolate include price strategy, market penetration strategy, market expansion strategies, market development strategy and mixed market strategy. Whittaker will show an upward trend over the next five to ten years. Late last month it revealed big plans to expand more heavily into the Australian market, inking a deal with Coles.
Such flexibility will also increase the affordability of the products. Social media marketing could be considered as the best marketing communication tool in this era, because billions of people are on social media and the companies get maximum reach in seconds. For instance, the marketing should target promoting the health benefits of consuming chocolate; the cocoa flavanols contained in chocolate are associated with increased cognitive function, blood flow, and cardiovascular health. This will help attract consumers and turn into more benefits, which will make the brand highly competitive in the market. As we can see from the above product positioning map, Whittaker 's is distinguishing itself from its main competitor Cadbury by offering a higher quality product at a reasonable price, adding to the perceived value consumers will get.
