14 Aug NAME: CLASS: CORE WORD COUNT: Marketing Plan for Pumpkin Flavored Chocol

NAME:
CLASS:
CORE WORD COUNT:

Marketing Plan for Pumpkin Flavored Chocolate brand of Royce
Company

.png” alt=”http://www.catdumb.com/wp-content/uploads/2015/02/11.png”>

Executive summary 1.0
The following proposal will be a strategic marketing plan for a new
Manufacturer, in creating a new brand of chocolate. My focus will be on the
Middle East as I have a clear understanding of the demographic and what is
available being a resident here myself. The product I have chosen to focus on
is a new flavor of chocolate that is available in other countries, specifically
Japan but not available in the United Arab Emirates, there are many variations
of chocolate worldwide, which are still not available in the Middle East, which
has a high expat percentage and growing consumer needs. In order to create this
successful plan I will develop a plan to position and sell within the United
Arab Emirates. An example of this is Kit Kat Green Tea, which is sold in Japan
but not in Dubai and with the growing Japanese communities within the city and
Japanese grocery stores available; it is something that might be a success
within this growing community, and already popular chocolate in Japan. In order
to make a similar chocolate available in Dubai I will come up with a campaign
that will make people want to buy it. In order to do this successfully,
research will need to take place.

Situational analysis 2.0

Royce’
Futomiis a chocolate manufacturing
company in Japan.It ventures in a line of
improved chocolate products such as Kit
Kat Green Tea, chocopies, and pumpkin flavored chocolate. The company has enjoyed enormous victory in
the production of a variety of chocolates and supplies across the world.However, just like any other chocolate manufacturers,
the Royce Futomi Company has to continue reinventing the wheel and come up with
new product to meet changing customer needs. To achieve this, Royce Futomi
company has come up with a healthy chocolate brand to be marketed to the public
globally hence it has a plan to venture into United Arabs Emirates countries
that has not experienced this newly introduced brand.
The healthy newly introduced chocolate will
be called Pumpkin Flavoured Chocolate. Pumpkin Flavoured chocolate brand will
be an organic mixture of ingredients that that will meet the increase demand
for healthy snacks in the market. The product will be an opportunity for the
company to reassert itself in the market as well as a way to give the consumers
what they want. The product will be a success because, as Maxwell (2008) says, the market is turning from
synthetic made products and turning to more organic foods and snack due to
health needs.
According
to Evanson (2012), market data indicates
that an increasing number for people are willing to pay more for a the new
brand as long as they can be sure that it is an organic snack. This, as Stevenson (2011) asserts, is very important in
the marketing of natural organic snack because the production of such
chocolates is more expensive as opposed to the synthetic chocolates and this is
an important factor because the prices for the product have to meet the
production costs and the profit margin. The main challenge in marketingRoyces
Pumpkin Flavored chocolate will be to overcome
market barriers caused by customer loyalty to the existing products. According
to consumer insights, a great number of GCC nationals are loyal to specific
brands and find it hard to change from one brand to another (Wilson, 2009). However,Royce will be able to overcome this problem because it will
be targeted to both the younger people who are more willing to explore more
possibilities and the older population who are health-conscious. This will
however not be a complete advantage in itself because once these customers have
switched toPumpkin Flavored Chocolate; the
challenge will be to make them loyal customers as the product grows.

Market
summary 2.1

The brand endeavors to appeal to health-minded
customers who want nutrient-rich but little calorie sport beverage. Royce and
its cross brands have been very prosperous, experiencing substantial profit
gains in the previous years since its launch thirty-three years back. The
product will be available in super markets, and to begin with airlines who have
Japanese sectors in their route. These are places with high number of prospect
consumers of the new chocolate brand.

SWOT 2.2

Strengths
The area where Royce Company may have the
prospect of avoiding this competition from the existing chocolate
manufacturers, however, is in its paybacks. The merchandise is
vegetable-enhanced, which gives it a competitive power over other synthetic
snacks. Royces leading competitors are its own cross brands, which makes it,
gain in the marketplace. It is also a new flavor, with a high demand and no
supply. Generally these types of chocolates are only found in novelty stores,
and high cost.

Weaknesses

Regrettably, Royces Pumpkin flavored chocolate
brand besides other chocolate manufacturing corporations, have had to enter
into a competition with existing , as the upsurge in consumer concern with cost
and ecological effects have reduced sales. Large brand chocolate corporations
have also seen an increase in the number of customers who strive to save money
by substituting expensive and unhealthy snacks with affordable and healthy
ones. It is also, a new brand within the Middle East, so it will need to be
positioned correctly in order to create a demand for it.

Opportunities

The company has an opportunity to participate
within its own growing industry of Royce Company that has flourished for years.
Its decreased products costs through economy of scale are another opportunity
to thrive in the current economic situation. Moreover, the company has the
capability to influence other industry participants marketing efforts to help
grow the general market of its products.

Threats

Peter Swiss Milk Chocolate is a direct competitor
of Royces Pumpkins flavored new brand
chocolate, as it has remained to be the top manufacturer of milk
chocolate internationally. Customers are particularly apprehensive in the
current world with low sugar and low calorie or no calorie added snacks, and
perceive the Royces pumpkin flavored chocolate brands to be healthier
preferences. Gauging consumer behavior of in UAE countries will be problematic
as far as dealing with stereotypes, perceptions, culture and legal laws will
take quite some time to catch up (Laroche, & Cleveland, 2006).

Competition
2.3

Product
Offering 2.4

Royce
Company at the present offers a number of products:
The first product that has
been produced is Chocopie that is a well-presented product that is tasty and is
more or less associated with high-class consumer market however, at an
affordable price. This gives the company good sings since the products is
attractive enough both physically and pocket friendly in terms of its purchase.
The second product isKit Kat Green Tea which
are specifically meant to provide glucose to the body hence reenergize the body
in the event that one feels weak and cold. This could improve the situation
whereby the consumers can affordably purchase the product unlike before where
other energy drinks are quite expensive for the consumers to purchase them.
Trademarking this product is apparentlyongoing.

Keys to
Success 2.5

The keys to success are the abilityRoyce Company to design and manufacture products thatmeet market needs in Dubai.
In addition,Royce Company must
ensure totalcustomer fulfilment. Upon achieving these keys to success, the
company willbecome profitable as well as sustainable not only in UAE but also
globally.

Critical issues 2.6

To succeed in the
market, the firm will have to utilise the changing market trends- the market is
realizing the importance of taking natural and organic foods as opposed to the
traditional synthetic foods. This, as William
(2010) says, has been caused by the increasing health issues and the
increasing campaigns by the health organisation asking the public to be more
considerate of the kind of foods they eat, especially manufactured foods. This
presents a good market for organic foods and the public will only need to trust
the product.

Marketing
strategies

The Pumpkin flavored chocolate brand endeavors
to appeal to health-minded customers who want nutrient-rich but little calorie
sport beverage. Royce and its cross brands have been very prosperous,
experiencing substantial profit gains in the previous years since its launch
thirty-three years back. The product will be available in super markets, and to
begin with airlines who have Japanese sectors in their route. These are places
with high number of prospect consumers of the new chocolate brand. The newly
introduced chocolate brand in Dubai will meet the following segments in an
attempt to achieve the companys competitive advantage not only in UAE but also
in of its existing constituents (Maxwell, 2009).
Royce Futomi company focuses on
strategies such as everyday low prices that helped it stay ahead of its
competitor. More so, the companys retailer opened new small stores, which
helped it overcome its competitors such as Peter Swiss Milk. It faced tough
competition from this company but it managed to make profits.In determining its
products offer,Royce Company has begun an underground
movement that use salespeople as an alternative to the common ads on TV(Evanson, 2012). This strategy makes it minimize on the cost while maximize the
profits from the products sales. In promoting its product, the company has for
the last four months, been travelling in the in Japan and has now made an entry
in Dubai to reach both small skate parks and large events such as airports,
supermarkets and restaurants. In addition, the exhibitors could showcase the
brand to the prospect consumers and offer free chocolates(William, 2010). Royce company has a well hired groups of great celebrities, to
help promote its products. Royce Company has also tried to stay avant-garde
with product development. It is known for its uniquely flavored chocolates,
especially during holidays and other special events. The strategy to improve
customer service by $8 is also an added advantage to the company to have a high
retention rate.

Mission statement 3.1

Royce
Futomis mission statement is To help people save money so they can live
better. A mission statement usually defines an organizations purpose. A good
mission statement delineates why the organization is in business and how it
conducts its business(Evanson, 2012). It also
addresses what the organization intends to do for their customers. Basing on
these criteria, Royce Futomis companys mission statement could be said to be
commendable, as it tends to capture most of these concepts.

Marketing
objectives 3.2

1)
Respect for the individuals health

2)
high quality service to its customers

3)
Striving for its excellence

Financial
objectives 3.3

Royce
Company is guided by the following objectives as far as its finances are
concerned

To
increase its annual sales by 10% through hiring more sales people

To
attain 7% increment in its annual costs annually to decrease expenses.

To
increase Royce Futomis pumpkin chocolate financial efficiency by 10% annually
to increase profits

Target market
3.4

Royce
Futomis Pumpkin flavored chocolates are targeted to the general population
owing to the cancerous population yet the disease does not discriminate but
prevalent to both the old and young people. However, these products will
largely be targeted to airports, restaurants, and supermarkets who will sell
them to the consumers that reach them.

Product
positioning 3.5
Royce
Futomis Pumpkin chocolateis a traditional
snack that that meets the increased demand for traditional ingredient enhanced
snacks in the market. The product has an opportunity for the company to
reassert itself in the market as well as a way to give the consumers what they
want. The product is a success because, as Maxwell
(2008) says, the market is turning from artificially ingredients and
turning to more natural additives snacks due to health needs (Wilson, 2009).
The
achievement of Royce FutomisCompany will depend
upon fruitful marketing communication relying on sound decision making by
management on the coordination of the different components of the promotional
mix. For marketing communication to be fruitful, however, a dependable choice
must be made dealing with the three are from the promoting blend: the product,
or the idea itself; the cost at which the product will be offered; and the
spots through or which clients will purchase the Pumpkin flavored chocolate
brand (Evanson, 2012).
In order to succeed in the market, the Royce Futomi
will have to utilise the changing market trends- the market is realizing the
importance of taking natural and organic soft drinks as opposed to the
synthetic beverages (Evanson, 2012). This, as William (2010) says, has been caused by the
increasing health issues and the increasing campaigns by the health
organisation asking the public to be more considerate of the kind of drinks
they take, especially manufactured drinks. This presents a good market for
organic drink and the public will only need to trust the product.
It has a unique implementation of its plan in that its
connection to its target group of consumers is more personal as compared to
other drink manufacturers, and loyal customers like it. This approach makes it
easier to be distinguished from any other company that manufacture drinks (William, 2010).
Upon approval, Royce Futomi will have to ensure that
the workforce is available. This includes, the workers who will be involved in
the production of the product. The promoters, the sales persons and the
distributors of the product. The new products will have to be supplied alongside
the existing products so as to maintain the current customers while attracting
the new customers. The management should make sure the materials for production
are readily available. Relationship with the public should be established to
keep the good image of the company growing.
Price is
a major element in the budget, it is important because of its relation with the
positioning of the product(Evanson, 2012).
The pricing of the product of Royce Futomi Pumpkinchocolate will affect the
marketing mix elements, which include the features of the product, promotion,
and channel decisions. The strategies that exist for pricing include premium
pricing. Premium pricing is the use of prices that are high because of products
uniqueness. The strategy is applicable where a company has a competitive
advantage and this is the case with Royce Futomi. The company will have to
incur some huge amounts of cash to make this a success. Therefore, the budget
for the fast year stands at 5 million dollars.

References

Evanson, M.S. “Understanding Health Issues in Marketting
Food: Price Versus Health.” Journal
of Health and Food (2012): 39-41.

Maxwell, N.D. “New Trends in the Food Market.” Journal of Marketing (2009):
12-18.

Stevenson, N.D. “understading Marketting and The
Paradigms in the Market: The Food Industry.”
Food and Beverge Research Journal (2011): 13-21.

William, N.D. “The Development of New markets: Health
Issues and Organic Foods.” Journal
of Marketing(2010): 19-25.

Wilson, J.D.
Marketingin the new market Environemnt . New York, NY: Pearson Education
Books, 2009.

Laroche, M., & Cleveland, M., 2006, Acculturation to the
global consumer culture : Scale development & Research paradigm, Journal of
Business Research, pg11.

NAME: CLASS: CORE WORD COUNT: Marketing Plan for Pumpkin Flavored Chocolate brand of Royce
Company.png” alt=”http://www.catdumb.com/wp-content/uploads/2015/02/11.png”>Executive summary 1.0 The following proposal will be a strategic marketing plan for a new
Manufacturer, in creating a new brand of chocolate. My focus will be on the
Middle East as I have a clear understanding of the demographic and what is
available being a resident here myself. The product I have chosen to focus on
is a new flavor of chocolate that is available in other countries, specifically
Japan but not available in the United Arab Emirates, there are many variations
of chocolate worldwide, which are still not available in the Middle East, which
has a high expat percentage and growing consumer needs. In order to create this
successful plan I will develop a plan to position and sell within the United
Arab Emirates. An example of this is Kit Kat Green Tea, which is sold in Japan
but not in Dubai and with the growing Japanese communities within the city and
Japanese grocery stores available; it is something that might be a success
within this growing community, and already popular chocolate in Japan. In order
to make a similar chocolate available in Dubai I will come up with a campaign
that will make people want to buy it. In order to do this successfully,
research will need to take place.

Situational analysis 2.0Royce’
Futomiis a chocolate manufacturing
company in Japan.It ventures in a line of
improved chocolate products such as Kit
Kat Green Tea, chocopies, and pumpkin flavored chocolate. The company has enjoyed enormous victory in
the production of a variety of chocolates and supplies across the world.However, just like any other chocolate manufacturers,
the Royce Futomi Company has to continue reinventing the wheel and come up with
new product to meet changing customer needs. To achieve this, Royce Futomi
company has come up with a healthy chocolate brand to be marketed to the public
globally hence it has a plan to venture into United Arabs Emirates countries
that has not experienced this newly introduced brand. The healthy newly introduced chocolate will
be called Pumpkin Flavoured Chocolate. Pumpkin Flavoured chocolate brand will
be an organic mixture of ingredients that that will meet the increase demand
for healthy snacks in the market. The product will be an opportunity for the
company to reassert itself in the market as well as a way to give the consumers
what they want. The product will be a success because, as Maxwell (2008) says, the market is turning from
synthetic made products and turning to more organic foods and snack due to
health needs. According
to Evanson (2012), market data indicates
that an increasing number for people are willing to pay more for a the new
brand as long as they can be sure that it is an organic snack. This, as Stevenson (2011) asserts, is very important in
the marketing of natural organic snack because the production of such
chocolates is more expensive as opposed to the synthetic chocolates and this is
an important factor because the prices for the product have to meet the
production costs and the profit margin. The main challenge in marketingRoyces
Pumpkin Flavored chocolate will be to overcome
market barriers caused by customer loyalty to the existing products. According
to consumer insights, a great number of GCC nationals are loyal to specific
brands and find it hard to change from one brand to another (Wilson, 2009). However,Royce will be able to overcome this problem because it will
be targeted to both the younger people who are more willing to explore more
possibilities and the older population who are health-conscious. This will
however not be a complete advantage in itself because once these customers have
switched toPumpkin Flavored Chocolate; the
challenge will be to make them loyal customers as the product grows.Market
summary 2.1The brand endeavors to appeal to health-minded
customers who want nutrient-rich but little calorie sport beverage. Royce and
its cross brands have been very prosperous, experiencing substantial profit
gains in the previous years since its launch thirty-three years back. The
product will be available in super markets, and to begin with airlines who have
Japanese sectors in their route. These are places with high number of prospect
consumers of the new chocolate brand.SWOT 2.2StrengthsThe area where Royce Company may have the
prospect of avoiding this competition from the existing chocolate
manufacturers, however, is in its paybacks. The merchandise is
vegetable-enhanced, which gives it a competitive power over other synthetic
snacks. Royces leading competitors are its own cross brands, which makes it,
gain in the marketplace. It is also a new flavor, with a high demand and no
supply. Generally these types of chocolates are only found in novelty stores,
and high cost.WeaknessesRegrettably, Royces Pumpkin flavored chocolate
brand besides other chocolate manufacturing corporations, have had to enter
into a competition with existing , as the upsurge in consumer concern with cost
and ecological effects have reduced sales. Large brand chocolate corporations
have also seen an increase in the number of customers who strive to save money
by substituting expensive and unhealthy snacks with affordable and healthy
ones. It is also, a new brand within the Middle East, so it will need to be
positioned correctly in order to create a demand for it.OpportunitiesThe company has an opportunity to participate
within its own growing industry of Royce Company that has flourished for years.
Its decreased products costs through economy of scale are another opportunity
to thrive in the current economic situation. Moreover, the company has the
capability to influence other industry participants marketing efforts to help
grow the general market of its products.ThreatsPeter Swiss Milk Chocolate is a direct competitor
of Royces Pumpkins flavored new brand
chocolate, as it has remained to be the top manufacturer of milk
chocolate internationally. Customers are particularly apprehensive in the
current world with low sugar and low calorie or no calorie added snacks, and
perceive the Royces pumpkin flavored chocolate brands to be healthier
preferences. Gauging consumer behavior of in UAE countries will be problematic
as far as dealing with stereotypes, perceptions, culture and legal laws will
take quite some time to catch up (Laroche, & Cleveland, 2006).Competition
2.3Product
Offering 2.4Royce
Company at the present offers a number of products: The first product that has
been produced is Chocopie that is a well-presented product that is tasty and is
more or less associated with high-class consumer market however, at an
affordable price. This gives the company good sings since the products is
attractive enough both physically and pocket friendly in terms of its purchase. The second product isKit Kat Green Tea which
are specifically meant to provide glucose to the body hence reenergize the body
in the event that one feels weak and cold. This could improve the situation
whereby the consumers can affordably purchase the product unlike before where
other energy drinks are quite expensive for the consumers to purchase them.
Trademarking this product is apparentlyongoing.Keys to
Success 2.5The keys to success are the abilityRoyce Company to design and manufacture products thatmeet market needs in Dubai.
In addition,Royce Company must
ensure totalcustomer fulfilment. Upon achieving these keys to success, the
company willbecome profitable as well as sustainable not only in UAE but also
globally.Critical issues 2.6To succeed in the
market, the firm will have to utilise the changing market trends- the market is
realizing the importance of taking natural and organic foods as opposed to the
traditional synthetic foods. This, as William
(2010) says, has been caused by the increasing health issues and the
increasing campaigns by the health organisation asking the public to be more
considerate of the kind of foods they eat, especially manufactured foods. This
presents a good market for organic foods and the public will only need to trust
the product. Marketing
strategiesThe Pumpkin flavored chocolate brand endeavors
to appeal to health-minded customers who want nutrient-rich but little calorie
sport beverage. Royce and its cross brands have been very prosperous,
experiencing substantial profit gains in the previous years since its launch
thirty-three years back. The product will be available in super markets, and to
begin with airlines who have Japanese sectors in their route. These are places
with high number of prospect consumers of the new chocolate brand. The newly
introduced chocolate brand in Dubai will meet the following segments in an
attempt to achieve the companys competitive advantage not only in UAE but also
in of its existing constituents (Maxwell, 2009). Royce Futomi company focuses on
strategies such as everyday low prices that helped it stay ahead of its
competitor. More so, the companys retailer opened new small stores, which
helped it overcome its competitors such as Peter Swiss Milk. It faced tough
competition from this company but it managed to make profits.In determining its
products offer,Royce Company has begun an underground
movement that use salespeople as an alternative to the common ads on TV(Evanson, 2012). This strategy makes it minimize on the cost while maximize the
profits from the products sales. In promoting its product, the company has for
the last four months, been travelling in the in Japan and has now made an entry
in Dubai to reach both small skate parks and large events such as airports,
supermarkets and restaurants. In addition, the exhibitors could showcase the
brand to the prospect consumers and offer free chocolates(William, 2010). Royce company has a well hired groups of great celebrities, to
help promote its products. Royce Company has also tried to stay avant-garde
with product development. It is known for its uniquely flavored chocolates,
especially during holidays and other special events. The strategy to improve
customer service by $8 is also an added advantage to the company to have a high
retention rate. Mission statement 3.1Royce
Futomis mission statement is To help people save money so they can live
better. A mission statement usually defines an organizations purpose. A good
mission statement delineates why the organization is in business and how it
conducts its business(Evanson, 2012). It also
addresses what the organization intends to do for their customers. Basing on
these criteria, Royce Futomis companys mission statement could be said to be
commendable, as it tends to capture most of these concepts. Marketing
objectives 3.2
1)
Respect for the individuals health
2)
high quality service to its customers
3)
Striving for its excellence Financial
objectives 3.3Royce
Company is guided by the following objectives as far as its finances are
concerned
To
increase its annual sales by 10% through hiring more sales people
To
attain 7% increment in its annual costs annually to decrease expenses.
To
increase Royce Futomis pumpkin chocolate financial efficiency by 10% annually
to increase profitsTarget market
3.4Royce
Futomis Pumpkin flavored chocolates are targeted to the general population
owing to the cancerous population yet the disease does not discriminate but
prevalent to both the old and young people. However, these products will
largely be targeted to airports, restaurants, and supermarkets who will sell
them to the consumers that reach them.Product
positioning 3.5Royce
Futomis Pumpkin chocolateis a traditional
snack that that meets the increased demand for traditional ingredient enhanced
snacks in the market. The product has an opportunity for the company to
reassert itself in the market as well as a way to give the consumers what they
want. The product is a success because, as Maxwell
(2008) says, the market is turning from artificially ingredients and
turning to more natural additives snacks due to health needs (Wilson, 2009). The
achievement of Royce FutomisCompany will depend
upon fruitful marketing communication relying on sound decision making by
management on the coordination of the different components of the promotional
mix. For marketing communication to be fruitful, however, a dependable choice
must be made dealing with the three are from the promoting blend: the product,
or the idea itself; the cost at which the product will be offered; and the
spots through or which clients will purchase the Pumpkin flavored chocolate
brand (Evanson, 2012).In order to succeed in the market, the Royce Futomi
will have to utilise the changing market trends- the market is realizing the
importance of taking natural and organic soft drinks as opposed to the
synthetic beverages (Evanson, 2012). This, as William (2010) says, has been caused by the
increasing health issues and the increasing campaigns by the health
organisation asking the public to be more considerate of the kind of drinks
they take, especially manufactured drinks. This presents a good market for
organic drink and the public will only need to trust the product. It has a unique implementation of its plan in that its
connection to its target group of consumers is more personal as compared to
other drink manufacturers, and loyal customers like it. This approach makes it
easier to be distinguished from any other company that manufacture drinks (William, 2010).Upon approval, Royce Futomi will have to ensure that
the workforce is available. This includes, the workers who will be involved in
the production of the product. The promoters, the sales persons and the
distributors of the product. The new products will have to be supplied alongside
the existing products so as to maintain the current customers while attracting
the new customers. The management should make sure the materials for production
are readily available. Relationship with the public should be established to
keep the good image of the company growing.Price is
a major element in the budget, it is important because of its relation with the
positioning of the product(Evanson, 2012).
The pricing of the product of Royce Futomi Pumpkinchocolate will affect the
marketing mix elements, which include the features of the product, promotion,
and channel decisions. The strategies that exist for pricing include premium
pricing. Premium pricing is the use of prices that are high because of products
uniqueness. The strategy is applicable where a company has a competitive
advantage and this is the case with Royce Futomi. The company will have to
incur some huge amounts of cash to make this a success. Therefore, the budget
for the fast year stands at 5 million dollars.References
Evanson, M.S. “Understanding Health Issues in Marketting
Food: Price Versus Health.” Journal
of Health and Food (2012): 39-41.
Maxwell, N.D. “New Trends in the Food Market.” Journal of Marketing (2009):
12-18.
Stevenson, N.D. “understading Marketting and The
Paradigms in the Market: The Food Industry.”
Food and Beverge Research Journal (2011): 13-21.
William, N.D. “The Development of New markets: Health
Issues and Organic Foods.” Journal
of Marketing(2010): 19-25.
Wilson, J.D.
Marketingin the new market Environemnt . New York, NY: Pearson Education
Books, 2009.
Laroche, M., & Cleveland, M., 2006, Acculturation to the
global consumer culture : Scale development & Research paradigm, Journal of
Business Research, pg11.

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.