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LCBB4004 Marketing Fundamentals

University: UNIVERSITY OF WALES

  • Unit No: N/A
  • Level: High school
  • Pages: 12 / Words 3041
  • Paper Type: Essay
  • Course Code: LCBB4004
  • Downloads: 67
Question :

This assessment will cover the following questions:

  • What is marketing and discuss various stages of marketing that helps to deal with the changing business environment.
  • Analyse the development of marketing in establishing value for customers.
  • Explain the principles of marketing and how it influences the relevant stakeholders of the organisation.
Answer :
Organization Selected : The Lindt

INTRODUCTION

Marketing process is the process to have the proper analysis the respective market level in terms of their opportunities along with selecting market. The Lindt company’s is being identified as the second most values chocolates brand in the world. To is one of the most preferred chocolates in the north America along with European market. In this report there will be major discussion of campy proper analysis with having proper internal and externals analysis of business environment. the report has discussion on various marketing positioning along the marketing mix with making perfect level of decisions. The marketing communication used to have working which have together increased the level of marketing and sales along with strong branding which have allowing the multiple products which is allowing major level of premium with proper level of recruitment.

MAIN BODY

Marketing process is the process to have the proper analysis the respective market level in terms of their opportunities along with selecting market and developing the marketing mixing appropriate way in order to have proper level of implementation of marketing strategy which will help in gaining the competitive level of advantage.

Swot analysis

Strength

The Lindt company’s is being identified as the second most values chocolates brand in the world. To is one of the most preferred chocolates in the north America along with European market. With next to that company have absolute prefect quality of product which have major inclusion of white chocolates which is being mixed with milk and granular ingredients.

Weakness

The company stand with its weakness in its pricing policy as the company products are tends to very expensive as compares to other chocolate bands which are emerging on the market at global level. The company have the level of limited sales in respective country as the company has only having the bunny Easter level of chocolates.

Threat

The company tends to have faced the high level od stiff competition among its global level of competitors such as Ferrero Rocher along with low cost chocolates such as Cadbury. The various level of rules and regulation can be type of barrier in expansion.

Opportunities

Th company has the major level of fan following across various level of developed nation where the company have the opportunity to expand. The company came out with the less expensive product which will makes there increase in target lovers. The mergers can be legally the best to enter into new market with mix up in local brands along with limiting their excess in products production.

PESTLE ANALYSIS

Political factor

The company has the major level of fan following across various level of developed nation where the company have the opportunity to expand. The various level of rules and regulation can be type of barrier in expansion. the company should be concern about existing level of obesity levels along with advertising standard authority which will impacts the company.

Economic factor

The market has the existing level of chocolate market having worth of €625 million along with uneven and uncertainty in countries economic climate. The country has existing level of 12.5% of corporation tax. There are major impacts of inflation in process od cocoa prices which will impacts the business of company.

Social factor

Nowadays consumer is getting more concern about their healthy along with increased level of interest in ethical goods which is impacting the business in the country which is higher level of population of growth. On the other hand, the chocolate giving gift culture in making business more prosperous.

Technological factor

The company mostly known of its creativity and innovation which have inclusion of designs, packaging and taste. There is existence of trust and belief of 170 years in the chocolate making. In company Conching process for 24 hours to trying to be differentiate from competitors.

Environmental factor

It s very important to have maintained of environmental regulation as the company is trying to have major level of efforts in reducing the consumption of water and proper optimisation transport routes. There should be proper Recycled, recyclable and biodegradable packaging

Legal factor

The company have legal responsibility to have commitment with its quality, qualification along with proper implementation of rules and regulation in customer orientations. There should be proper level of fulfilments od the social responsibility and profitability. Safety in the workplace is very important to Lindt.

STP of Lindt

Segmentation -The company have the segmented the market on basis of demographic income profile along with physiographical segment as the market which is demanding the high level and quality premium chocolates.

Targeting- The company have targeted the all age group of people the basis of their income basically the group of middle and upper-class people.

Positioning – The company have positioned itself as the best chocolate makes with best cocoa along with ingredients which is actuals being used.

Marketing mix

The marketing mix of company in having proper level of brand analysis which have the coverage o the 4P’s of market development. The 4 P’s are product, price, place and promotion respectively.

Product

It is available in form of ball or bar in a variety of flavours. Flavours such as extra dark (60%), milk outside smooth white filling, dark peppermint, hazelnut chocolate, Mocha, Cinnamon, white chocolate shell with cocoa pieces, peanut butter, Irish cream, almond case, and many more are available in the product range.

Price

The companies have the factualisation in developing market share as the chocolates market is pure oligopoly and Lindt is being one of major players. The chocolate comes in various sizes and shapes, with prices set at the currency exchange norms within various companies.

Place

As being the old, company has casually faced the World Wars, Economic crisis, challenges to expand their business worldwide on a great scale. The company have more than 80% of sales which is taking place out of company. The companies have maintained the subsidiarises along with different level of distribution centres and strategies outside the home country.

Promotion

Company has been engaging in both print and digital advertising such as displaying posters and broadcasting video by different level of digital medium. This makes target customers having experience of chocolate making which is making direct portable connection that will make the good chance to have converting more of potential customers. The various level of rules and regulation can be type of barrier in expansion. the company should be concern about existing level of obesity levels along with advertising standard authority which will impacts the company.

Marketing concept

The market concept of Lindt is the philosophy which is helping to have analysing the various level of needs of customers along with making perfect level of decisions making which is making the company gaming compete level of advantage.

Advantage of branding

Branding helps in making the business level of recognition which helps in strong business brand which helps in branding recognition along with customer loyalty.

The strong branding helps in making the proper level of communications which will helps in making proper level of analysis in decision making in achieving vision and mission of company.

Branding helps in making appropriate level of strategies in size and quality along with experience and reliability which is trying is turning be major discussion. The branding helps to make the brand loyalty which is making the business more level of brain bottom line management. Strong branding which have allowing the multiple products which is allowing major level of premium with proper level of recruitment and retention as they have the backbones which is having major level of strategy business brand.

Ansoff matrix

It is tool which is helping the company to have decide regarding to product and services growth strategy. This helps in suggesting to have attempts to have growing the dependency on market with new and existing product into new or existing market.

Market penetration

It is the growth strategy where the business has the sleekness to sell, he existing level of products into there new market. In this sector company tries to target new market with their existing product. The companies have the organising of Christmas lighting event which will directly or indirectly increase the level of consumption of Christmas products

Market development

This is bailout selling the exist in products into new market which aims to have introduction into new market. The product is same but targeted into new market. Lindt is turning trying to be more chocolates as not changing the recipe in order to increase as per user.

Product development

This helps in enveloping the new level of competencies to have revision of product which appeal int existing product. The company has the development of excellence chili which have some level of spiciness in chocolate.Take assignment help to get bettter grades!

Diversification

It is considered to be growth strategy where the market is new along with new product. This is considered to be intradiscally risky with have little level of experience or no expertness as moving into new market.

Stakeholder of company

They are considered to be the party which is giving interest in company development or mays be affected by the level of decision making of business. they have the duty to the owner or owners the money or assets once the right to legal possession is established by judgment or agreement.

Internal are the one who have been committed to have proper serving to company as board members, staff, volunteers, and/or donors. The internal one has the voting right which is based on number of shares that’s is being owned by them to company. On the other hand, the external one is who are interested in company but not have ants’ type of participation in companies’ management. They are considered to be indirectly affected by the decision making in business. The former and latter one is considered to primary and secondary stakeholders respectively.

Internal Stakeholder of Lindt

Internal stakeholders include owners, investors and employees which have the consideration of financial stake and direct relationship with respective to company development. They have involvement in making strategy, plan, program, project, product or process.

External Stakeholder of Lindt

They are such as customer along with bankers who have sharing of goals and interest which are considered to be outside partners. This have inclusion in impacting regulation and media recognition from point of view of companies in naysaying the performance of Lindt company n respective to have effectiveness and efficiency.

Stakeholder of company affects the decision making of company.

Customers are considered to be most important art for development of company. the company’s is having primary consideration towards there customer to have providence of best offering of product and services to their respective customers.

Employees Managers who treat employees fairly typically receive greater loyalty and commitment. Managers also have to address growing workforce diversity in establishing human resources practices. Worried for online essay help? Take expert's help now!

Communities makes manager to have decisions which is considered to be overall in order to have gaining favour of respective their communities. This also help in maintain proper level of management in term of ethic and values along with involvement in local events and charitable giving programs.

Business communication

Business communication has been considered as important past in development of the company in more of exchanging information in order to have promotion of organisational goals along with development of objective and purpose. This will help the Lindt to have increase in level of profits withing the company and overall further development

Business communication model are helping the business in order to be developed in certain order to have development in respective manner. Shannon and Weaver’s Information Theory Model has clear indication that process start with brain of sender. Then the concept turns into message and send to receiver with some certain level of medium. After being message received, the respective reaction sent back by receiver to sender with some sources. This model has inclusion of transmitter inform perceivable signal. This model have inclusion about feedback which is an important part of modern model of business communication.

Integrated level of marketing communication helps in proper level of refereeing along with indication all methods with level of brand promotion along with promoting particular level of product of services as long as targeting customers. There is all aspects of marketing communication used to have working which have together increased the level of marketing and sales which have impacted the increased the level of sales and maximum level of effectiveness in cost.

Promotion used by company

The company is free sampling and as promotion or discount offers which has been not advertised in web services. The company have used the online medium have the promotion of the company product. This level of promotion techniques ins amassing several levels of advantages which is making the decision making in business. This have several levels of advantage which is ben associated with company development as Some deals/savings sites will disseminate unauthorized or expired savings codes. On the other hand, the official site of company has nor listed the level of receiving a special offer email with a promo code.

Know More: Sample Reflective Journal Assignment

Recommendation

  • The company should have level of diversification over there product along with widening the range of their respective potential customer to market development strategy.
  • The company can have the core purpose to export the premium quality of swiss cholates all over the world to have major gaining of competitive advantage in developing company strategy.
  • The company should have promotion techniques in making several levels of advantages which is making the decision making in business.
  • Strong branding which have allowed the multiple products which is allowing major level of premium with proper level of recruitment and retention as they have the backbones which is having a major level of strategy business brand.

CONCLUSION

From the above report it can be concluded that The Lindt company’s is being identified as the second most values chocolates brand in the world. To is one of the most preferred chocolates in the north America along with European market. The company came out with the less expensive product which will makes there increase in target lovers Nowadays consumer is getting more concern about their healthy along with increased level of interest in ethical goods which is impacting the business in the country which is higher level of population of growth. Customers,

Employees and Communities makes manager to have decisions which is considered to be overall in order to have gaining favour of respective their communities. Promotion techniques ins amassing several levels of advantages which is making the decision making in business.

Read more: Research Analysis Report

Reflection

This projects as been a wonderful experience in developing the successful business project with having proper level of understanding in regards to company aspects. With development of this project I was able to developed a clear understanding regarding veracious level of tactical communication tools with making the business project easier to interpreted. For making company internal and external analysis. I have performed pestle and swot one which has made the company’s decision which is being impacted with various factor along the surrounding. I have analysed that company is mains business. I have understood companies’ strength and opportunities which will make business smote level of prospective development in company. The company have absolute prefect quality of product which have major inclusion of white chocolates which is being mixed with milk and granular ingredients. This helps in making me proper undersign in relation of development of communication skill developed. I have also made a level of dense improvement in presentation skill. In this project communication model and Ansoff matrix. This is making the development of various ideas companies have the organising of Christmas lighting event which will directly or indirectly increase the level of consumption of Christmas products which has made me more interesting to create the project of this company. With development of this project I was able to developed a clear understanding regarding veracious level of tactical communication tools as promotion techniques ins amassing several levels of advantages which is making the decision making in business. I have developed a grates understanding that Managers who treat employees fairly typically receive greater loyalty and commitment. Managers also have to address growing workforce diversity in establishing human resources practices. I have understood that Employees and Communities makes manager to have decisions which is considered to be overall in order to have gaining favour of respective their communities. Promotion techniques ins amassing several levels of advantages which is making the decision making in business.

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