Marketing Plan of Donald B
Donald B is the Australian chocolate maker and confectionary company who faces tough competition from the foreign players such as such as Hershey’s, Mondelez international etc. The company is deciding to sell its products through the specialty stores of the Australia such as Aldi, Coles, Woolworths etc. In the report the marketing strategy adopted by the company is highlighted in detail.
Market segmentation of Donald B
- Demographic segmentation- Donald B should target those markets which are most beneficial for them. For example, the company must target the youngers or kids as they are ones who have more craving for chocolates.
- Geographical segmentation- On the basis of geographical segmentation, the company must target the Australian customers and must offer products according to the needs of Australians.
- Psychographic segmentation- According to psychological segmentation, the company must target the market or consumers who are more health conscious and who wants to believes that consuming chocolates would be beneficial for them.
Donald B must position itself in the eyes of the customers as good quality brand with low prices that can be afforded by even individuals with low income group.
Marketing Mix elements of Donald B
- Ideas of the products and services that could be offered by Donald B and how they can be offered- The product/service offered by the company should be according to the current needs and demands of the Australian consumers. For example, the Australian consumers are more health conscious, so the company should come up with the products which are healthier for consumption.
- Different levels of product that Donald should apply- Different levels of products that should be applied by the Donald B is according to the income capacity of the individuals, the size of the products should differentiate so that every income group should can purchase the products of the company.
- Pricing strategy that should be followed by the company- Donald B must adopt competition-based pricing strategy. According to competition-based pricing strategy, the company must conduct the market research of current prices offered by the competitors and then set its own prices of the products strategically.
- Distribution decisions- The effective distribution channel can be established by the company by forming strategic alliances with the e-commerce and local retailers such as Amazon, eBay, Woolworths, Coles etc. who can effectively distribute the products of the company in an effective and efficient manner.
- Promotion- The company should promote its products with the help of social media platforms and through official website of the company. Further the company can resort to various above the line and below the line communication.
- People- People are the stakeholder of the organization who are employees of the organization, customers, partners, investors, owners etc.
- Physical evidence- The physical presence of the company would be through its official website, presence of company’s products on retail stores etc.
- Process- The process followed by the Donald B is simple, that includes manufacturing of chocolates, doing market research of pricing strategy, marketing the products, and then distributing products to consumers through retail stores.