Geography: New Jersey is a highly populated area located on the east coast of the United States of America with an array of different cultures (Mars Nutrition Incorporation, 2012) Rationale: The high population of New Jersey would provide a very large source of consumers regardless of the cultures Age:
Gender: Both men and women.
Rationale: At the very young ages, both genders consume chocolate and other confectionery at the same rates. However, with increase in age, chocolate becomes very common with women (Bailey,2012).
Income: the segmentation of income may be all households with a yearly income exceeding one dollar.
Ethnicity: They target all ethnicities.
Rationale: Because all ethnicities have disposable incomes, thus they would all provide a very favorable target market. Specification on the basis of ethnicity would lock out potential consumers and deny the company the much needed revenue.
Family Life Cycle: Married couples, Adult Singles
Rationale: Unmarried individuals have adequate disposable incomes because they do not have many responsibilities.
Separated individuals in some cases have children, thus these children would prompt their parents to purchase the products for them. Marriages usually result in the presence of children who would solicit their parents to purchase the products for them. Personality traits: this sector fundamentally comprises of emulators for instance fun loving people. These are the people who delight in enjoying life and believe in travelling and adventure. Lifestyle characteristics: in terms of lifestyle, it might be targeted at those who favor purchasing convenience products. They are as well willing to experiment with substitute products in place of food items that are conventional, as the world of chocolate is transforming from occasion led to more casual utilization.
Usage Rate: the market might be more segmented on usage instead of attitude – whatever place, time snack. This is a faction of users that find conventional snacks to be heavy. Although an array of chocolates might be offered, a core brand may be initiated in the count line sector. Given that this sector is tipped to be the development engine of the industry and this sector encompasses a significant market share.
Dove milk chocolate can be classified as a convenience good, which customers never plan to buy in advance. The consumer buys the candy bars when the need comes or when the consumer visits a place where the candy bar is sold. With convenience products, consumers are not willing to spend much time window-shopping for the products to compare prices, since the consumer knows the brands that are wanted. More so, the candy bars are not expensive, and consumers only pick the candy bars at their nearest shops since the candy bars are available in most retail centers, including large supermarkets such as Wal-Mart. In addition, dove milk candy is a product that consumers buy regularly, and the consumer knows specifically where to get the candy bar according to their tastes and preferences. Moreover, the candy bars are bought in small quantities and do not require much effort in buying. Many customers only buy the candy bars when it is necessary, to give to friends or eat when the consumer feels the urge, qualifying dove milk chocolate as a convenience product (Lamb, Hair & McDaniel, 2011).
a) Dove milk product uses a family branding strategy, where all its products are marketed through the word Dove, and all have the same brand name. The products are closely related, differing in terms of flavor, and little content, but all have the same utility. The products range from dark chocolate, miniature, among others with different flavors. All of them carry the same name on their products. The name is written on a coherent clearer part of the package for all of them. b). The brand name of the product is Dove, which is written clearly in bolder letters, on a reflective paper of the packaging to make the name more visible. Each cover color of the dove milk chocolate depends on the flavor.
For darker chocolate, the color is darker, but the similar in terms of the lay out of the paint. In all of the chocolate brands, there is a curved line across the package in a different color, mostly defining milk content. However, there is a dark chocolate color defining all of them. In addition, the flavor of the chocolate inside such as silky smooth milk chocolate is inscribed at the right hand bottom corner. c). The level of brand loyalty is high for this product, and its users are used to buying from the same brand. Considering this is a convenience good, consumers prefer buying from one producer, whom the consumer trusts, or depending on the consumer’s preference (Lamb, Hair & McDaniel, 2011). This builds up exceptional customer loyalty since many will only prefer the Dove chocolate to other brands. OK.
a) Packaging has been used in several ways for Dove milk chocolate considering it is a consumable food product, needing protection to remain safe for human consumption, as well as convenience. Some people may not have money to buy in large quantities, and prefer smaller quantities (Lamb, Hair & McDaniel, 2011). 1) The product is meant for human consumption and requires protection from harmful substances that might contaminate it. Therefore, the packaging provides for this by using a plastic, paper package for smaller quantities, while bigger quantities that might not be consumed at once are packaged in cartons and smaller foil or plastic paper packages for protection. The packages are well designed to let no substance inside, and can be easily opened and closable except for smaller packages that are consumed once. The Product Safety Act of a consumer necessitates that all packages enveloping products intended for human utilization or use be composed of materials believed safe for handling and produced in amenities that encompass no cross-contamination matters with other commodities.
These rules are set to guarantee that consumers do not turn out to be infected with food-borne diseases or other illnesses merely from handling packaging of a product. (Lister, 1999-2012) (Also, include the different size and types of packages. These should be listed clearly. In other words, 6 oz., 10oz, and 14 oz. Bars and 50 count and 100 count bags of individually wrapped bars. Then for the bars and individually wrapped units, describe the package.)
2) The packaging has been well designed to promote the product. The product lists the ingredients used, flavors and uses positional words such as miniature, silk, and smooth to attract customers. More so, its color is differentiated from other competitors.
3) The packaging has also been designed to enhance storage since most of them are in rectangular shapes that are easily packed into bulk containers for shipment and wholesale. In addition, the package comes in different sizes, with different prices to serve convenience especially when one does not require purchasing larger amounts. The chocolate bar is also packaged in ounces for convenience. The packages are easily opened for customer’s convenience. Resalable for reuse? Is there a date to use the product by?
4) In terms of facilitating recycling and reducing environmental damage, some of the packages are made up of biodegradable material, while some, especially the smaller packages, are in plastic papers. However, packaging the bigger products degradable material reduces the amount of non-biodegradable material they release into the environment. OK. b) The product uses both types of labeling, persuasive and informational. On the packages, the labeling is quite persuasive with positional statements that are also informative of what the product contains, in terms of nutritional content. The product uses words such as smooth and silk to explain the taste of the product for persuasion. Xxx.
Product Life Cycle
All products go through a life cycle since the time they are introduced into the market, to growth, maturity, and finally decline. However, this is dependent on the product category. For the product category, which is convenience, their maturity stage seem to last for long considering people will continue to buy the product when they need it. In this case, the product is in the maturity stage, where sales are increasing slowly. At this stage, the company can use the strategy of differentiating its products, which it has done. Currently, dove milk chocolates comes in different flavors, with more and more differentiation taking place to fight off competition, which is high at this stage. However, declining for this category of product is hard since it is a product that people buy regularly for human consumption, and they will still need it another day when the urge comes back. The product is sold internationally, but mostly in America, where it has reached maturity due to this differentiation of the product, and bearing in mind how long it has been in subsistence.
Mode of Product Advertisement
Given that Dove Milk Chocolate is a product widely known but is losing its appeal in the market, the best mode of advertising is ultimately product advertisement. The reason of using this mode of advertising is that institutional advertisement will not have the desired effect for this product. Most people acknowledge the existence of Dove Milk Chocolate, but they do not comprehend the advantages of using the new product leading to the need of sensitizing the larger population about it. According to the previous discussed reasons, pioneering advertisement is the best option for the reintroduction of a product that is losing touch with the consumers. The objective of this form of advertisement is giving consumers comprehensive information regarding the nutritional advantages associated with the product (Jugenheimer, 2010). Once consumers understand a product they are most likely to buy such products.
Advertisement Appeal Used
According to studies (Jugenheimer, 2010), any advertisement has to give the consumer reasons as to why they should buy a given product. That is, answering the questions such as what additional value they are to reap from the usage of Dove Milk Chocolate. Accordingly, in order to acquire competitive advantage, there is a need of combining a number of appeals. Since it is a product in its reintroduction stage, it needs to make sure that customers obtain the best for a subsidized price. In addition, an endorsement from influential people is also extremely valuable in such advertisements. Fun and pleasure is also beneficial in the promotion of the product of consideration. Explaining the pleasures that come with the usage of the product is significant at appealing consumers to use the commodity. However, influential people provide the best appeal. This is because many people adore their idols and believe that they always make the best decisions.
Form of media
It is not advisable to use one form of media. This is because although a given media might have certain advantages, it may lack values present in another. Accordingly, in the promotion of Dove Milk Chocolate bars, it is essential to use a number of relevant media. For the purpose of achieving geographical flexibility, newspapers are the best option. However, to reach out to the desired demographics magazines will apply. Internet and television find application at ensuring a narrow target audience and visibility respectively. The internet is fast growing and though it does lack demographic or geographic specification, it is one of the best modes of ensuring low cost fast advertisements. Furthermore, Mars Company already has a website making it easier to promote the commodity on the internet. On the other hand, television ensures that the product becomes visible.
Public Relation Functions
To achieve product prosperity, there is a need for application of more public relations. Product publicity and lobbying are the best option for a new product. Product publicity ensures that there is a valid word going around and that the product gains favor in the public domain. This is because there are organizations campaigning against the consumption of chocolate. On the other hand, lobbying ensures that the government does not pass strict laws that will hamper prosperity of the product. In this regard, there should be a lobbyist mandated to the task of ensuring that chocolate bars are in excellent terms with the government and policy makers. Furthermore, publicity will play a vital role at ensuring that many people understand the advantages of using this product, as opposed to the many publicized demerits.
Public Relations Tools
As previously indicated, this product has been experiencing difficulties over the years meaning that many people do not favor its usage. To bridge the gap of this misconception about the product, there is a need for the application of both new product publicity and product placement by the marketers. Application of new-product publicity will be instrumental in explaining to consumers the nutritional benefits of using chocolate bars. Furthermore, placement of products in movies and in other advertisement will boost consumer awareness about its benefits (Jugenheimer, 2010). Movies are especially a larger tool of promoting awareness of a given product. Movies are more likely to find more usage in comparison to advertisements. This is because there are an extraordinarily high number of people watching movies and television programs.
Sales Promotion Tools
Managers’ objective will be acquiring new customers from already existing entrants. In order to accomplish this, there is a need of explaining product superiority in comparison to those offered by competitors. In addition, there is a need of ensuring that prices do not matter by offering a value added product to consumers at a considerable price. That is, having chocolate bars with nutritional value as opposed to those that are a hazard to consumer’s health. Having a bonus pack is extremely vital at this level in order to persuade consumers that switch brands to be loyal to this product. Bonus packs should vary to attract various customers. This means that there is a need for different discount packs to cater for loyal customers, competitor consumers, and price buyers.
The concept of personal selling revolves around personal communication in trying to convince each other to purchase a given product. In its distribution channel, there will be effective personal communication, which will ensure that there is a conviction on the part of the consumer as to the reason of using Dove Milk Chocolate bars. Furthermore, ensuring that the company responds properly to any orders placed for the commodity will ensure an effective personal selling to the advantage of the product. Orders always act as a form of communication between the buyer and the product.
Any product has to make a profit for its institution (Engelson, 2010). Maximization of profits is a paramount objective of pricing in many if not all corporations. Accordingly, the pricing of this chocolate bars will revolve around making profit. The purpose of this is ensuring that it does balance consumer-investor satisfaction. Given that the commodity has considerable competition, high prices are not the way to go. Accordingly, there is a need of ensuring lower production cost and increasing its sales to maximize profits (Ferrell, 2010).
Other Price Determinants
In its re-introductory stage, there is the urge to elevate the price but due to the competition evident, this is not an option. After this stage, the prices will be on the decrease, and this will be due to increase in the number of players selling an alternative to this product (Ferrell, 2010). Given the fact that more competitors are likely to spur an increase in the supply there will be a decrease in prices. Accordingly, the major determinant of the pricing will be competition in the market. However, added value will ensure that there is differentiation of the product (Smith, 2011). Achieving this will ensure that consumers disregard the price factor and negative publicity.
There are a number of discounts in application for the commodity. To promote the loyalty of consumers, there will be cumulative quantity discounts awarded. That is, buying in bulk ensures that the customers pay lesser. However, there is also a need of compensating retailers and wholesalers for their services accorded to a given product (Smith, 2011). There is an application of functional discounts on theStrategyproduct. Finally, seasons always experience increased spending by consumers (Engelson, 2010). Accordingly, offering seasonal discounts ensures that consumers remain loyal to Dove Milk Chocolate and price buyers choose the product.
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Marketing Strategy Analysis: Dove Milk Chocolate. (2016, Jun 10). Retrieved from https://studymoose.com/marketing-strategy-analysis-dove-milk-chocolate-essay