Introduction of
Marketing on chocolate confectionery.
The
global market size of chocolate confectionery in 2016 was valued at USD 123.7
billion and it is expected to expand by 2.5 % in the next period of forecast.
The market of chocolate confectionery is anticipated to reach USD 154.4 billion
in the upcoming period of 2025. The recent upgrading system of different
factors has a concentration on the regulatory bodies, rising adoption of the
prophylaxis treatment, mandates, favorable government initiatives, and other
key factors that are driving factors for the market growth (Researchandmarkets. com, 2018). The growth of
chocolate confectionery in the global market is associated with the increase of
advertisements, promotional and marketing activities, and the production
process in different marketing segments. The major marketing strategy is to
target the kids and gaining momentum by them in the market. The best example of
such marketing strategies is Ferrero India that initiated different marketing
strategies and promoted their products by Kinder Joy chocolates (Grandviewresearch. com, 2016).
The
focus of the present work is to analyze the marketing strategies of chocolate
confectionery and how it can be affected by different environmental conditions.
In the marketing sector, different strategies are implemented that needs to be
illustrated through practical examples. The environmental factors are
illustrated by practical examples.
Environmental factors affecting
marketing strategies of chocolate confectionery.
The
major factors affecting the marketing strategies include strengthening of
marketing growth processes, growing consumerism, rising income of disposable,
and competitive benchmarking process. The strategic decision of the company is
subjected to multiple factors. The external environment enables to reach the
trends, happening and changes that are directly associated with competitor
activities and preferences of the customers. There are two main categories of
the external analysis including microenvironment and macro environment. The
microenvironment factors in Porter five forces and macro environment factors
include PESTEL analysis (Grandviewresearch. com, 2016).
Micro factors of Marketing on chocolate confectionery.
The
chocolate confectionery such as Cadbury has contracts with the number of
suppliers and they work collectively to sustain the business and there is a
threat to the development of the company and for the competitors. The cordial
relationship between different companies and supplier generates a competitive
advantage to the company. Chocolate confectionery is equally famous in
customers of all ages and customer believes in the product but the important
factor is to identify the suitable location to be accessed. The foreign
policies of the companies should function smoothly. In case of a decrease in
demands, the companies face higher setback and undergo losses. The decrease in
demand is only possible if the customers become conscious about health masses.
The prices of product do not matter for the customers as most often chocolates
are provided at cheaper prices. The influence of the customers is on the
services and demand rates. The choice of the taste of the customers has a
direct impact on demand. The threat of higher competition is required to be minimized
by the active strategies of the company. The higher level of equity is often
transformed to become more effective in the corporate market. The supporting
conditions are required to make the production process more effective (Gilligan & Wilson, 2009).
Macro factors of Marketing on chocolate confectionery.
The
macro environmental factors that induce impact on the marketing strategies of
chocolate confectionary includes political, economic, social, technology,
environmental, and legal factors. The political decisions are either positive
or it can be negative depending on the effect. The increase in taxes reduces
the frequency of buyers. The heart problem is also becoming issues in the
chocolate confectionary. The adverse economic effect increases with the income and
advertisement of services have a major role in the development of companies.
The funding of advertising decreases with a decrease in cost and reduction in
sales. The increasing trend of chocolate consumption is becoming a trend. The
local smaller enterprises cause more benefits to the customers (Researchandmarkets. com, 2018). The fair-trade
certification invites more suitable product system for the health-conscious
customers. The increase in capital investment is due to modern technology
trends and results in the efficient production process. The research and
development for the appropriate strategies is key to efficient processes. The
chocolate companies dispose of their waste in the river situated near to them
such as Cadbury and it is against the new legislation. The sustainable
acquisition of the material can change the production process and environmental
factors. The laws of government are required to improve the production process
and fair trade can be considered (Grandviewresearch. com, 2016).
Theory of Marketing on chocolate confectionery.
In
order to analyze the deliverables and coverage of the chocolate market, the
essential factors are market opportunities, latest trends and dynamics, the
market share of the company, forecast of the market, and competitive
benchmarketing.
Recommendation of Marketing on chocolate confectionery.
The
focus of chocolate confectionary should be on healthy food as most of the
customers are conscious of their food and diet. The competitors of the
chocolate industry are increasing, therefore, the production levels of all
companies should be increased. In concern of environmental conditions, the
chocolate confectionary must have focused on saving plastic and recycling of
waste. The problem of finding worms in the chocolate is becoming a problem that
needs to be addressed. Such type of issues results in loss of the number of
customers. The considerable, renowned, and trusted strategies are required to
be implemented to improve the environmental conditions (Researchandmarkets. com, 2018).
Conclusion on Marketing on chocolate confectionery.
The
chocolate confectionery manufacturing companies are developing several
promotional and marketing activities to increase the outreach of the
production. There is a number of factors considered in the marketing strategies
of chocolate confectionary such as promotional events, innovative activities,
and branding of the product. The focus of companies is to access the target
audience with optimized strategies.
References of Marketing aon chocolate confectionery.
Gilligan, C., & Wilson, R. M. (2009). Marketing
Auditing and the Analysis of Capability. Springers.
Grandviewresearch. com.
(2016). Chocolate Confectionery Market Size, Share & Trends Analysis
Report By-Product. Retrieved from www.grandviewresearch.com:
https://www.grandviewresearch.com/industry-analysis/chocolate-confectionery-market
Researchandmarkets. com.
(2018). Chocolate Confectionery Market Size, Share & Trends Analysis
Report By Product, by Region And Segment Forecasts, 2014 - 2025. Retrieved
from www.researchandmarkets.com:
https://www.researchandmarkets.com/reports/4479658/chocolate-confectionery-market-size-share-and