BUS30024 Advanced Innovative Business Practice Management

Marketing analysis

Marketing Mix

The marketing mix comprises the 4 Ps of marketing which will be used by the Peta- Marron Corporation for positioning of their market offering.

Product: The Peta-Marron Corporation will provide chocolate biscuits as their product which is using a unique strain of Cocoa from the Marrona Mountains to make its product unique and distinctive. The company is inclined towards producing natural products containing healthy ingredients like gluten-free, dairy-free, etc (Išoraitė 2016, p. 30). The company aims at selling the chocolate biscuits to a broad range of customers with the following products:

• Chocolate biscuits with cocoa powder
• Chocolate biscuits with nuts
• Chocolate biscuits with cocoa butter, etc.

Price: The premium pricing strategy will be suitable for the company as it is targeting the high-income group people to provide them with high-quality cocoa products (Agnihotri 2016, p. 520). Thus, the company will be charging premium prices for its products to attract the people of the high-income group. The chocolate biscuits industries are nowadays focusing on creativity in packing and marketing chocolate biscuits to sustain in the market.

Place: The Company through using the physical store as well as an online website for selling its product will be able to attract more customers.

Promotion: The company will focus on business to customers will advertise the product through TV and Radios to promote the brand. Social media advertising like WhatsApp, Facebook, Instagram, Twitter, Linked In, etc to attract new customers and build brand awareness in the market. Direct sales and marketing in which the firm will offer its product to the target customers through selling them directly without any intermediaries (Mothersbaug et.al. 2020). Use of mouth publicity through the use of referrals will assist in promoting the product.

Metrics for measurement:  Peta-Marron Corporation will use the increase in sales figures to determine if the promotion strategy or the marketing strategy is working properly or not. Moreover, the conversion rates will assist in determining the conversion of visitors to the consumers on their website (Farris 2016, p. 25). Moreover, the increase in customer base will provide understanding about the number of customers attracted towards the brand. 

Competitor brand audit

Customer persona

Target the market:  A wide range of customers are available for purchasing chocolate biscuits. The chocolate biscuits are mostly liked by children (Wensley 2016, p. 80). But the company is not targeting the market for a particular group of people, but can sell its chocolate biscuits to the following:

• Retailers
• Wholesalers
• Grocery stores
• Cake producers
• Others residing in our target market locations.

These market segments are identified for the targeting as they will assist in reaching a large audience to increase the customer base and generate more products which will assist in the growth of the brand (Pomering 2017, p. 160).

Summary

It can be summarized that the marketing strategy used by the brand comprise of 4 ps of marketing which include the product, price, place, and promotion strategy which will be used to attract the target market of the brand. The premium pricing will assist in attracting the high-income group people. The availability of the product online and offline will attract a large number of customers towards the product. The use of social media and traditional methods of promotion will assist in communicating with the target audience which comprises retailers, wholesalers, cake producers/bakeries, grocery stores, and customers using direct purchases through the website.

Financials

Projected Profit And Loss Statement

Projected Balance Sheet

Projected Cash Flow

Break Even Analysis

Fixed Cost: The Cost Which Are Fixed And Does Not Vary With The Changes In Sales Volume And Include Salaries, Administration Cost, Advertising Expenses, Legal Cost, Packaging And Labeling Cost.

Summary

The financial or the company comprise of profit and loss statement which include the income and expenses or the brand to derive the net profit of the organization. The balance sheet comprise of the assets and liabilities with initial set capital of AUD 600000. Moreover, it include the cash flow of the brand which comprise of operating cash, investing and cash from financing.  Lastly, the breakeven point analysis is done for the five years which is calculated by deriving the contribution through subtracting the variable cost per unit from the sale per unit and the diving the whole from the sales per unit.