The purpose of this report is to identify, analyse and evaluate the marketing factors that Whittaker’s has adopted in attempts to position themselves as a top-quality chocolate confectionery brand. In addition, this report would also be an aid to the major assignment in terms of developing detailed plans with marketing factors, data and facts.
This report will cover the background understanding about the confectionery industry and do an in-depth analysis of the micro and macro environment. In addition, the market segmentation, market positioning and target market that Whittaker’s is concerned with is also discussed.
The background of this report is to ensure that Whittaker’s …show more content…
(Farrell. L., Shields, 2007)
Political unrest is brewing In the Ivory Coast where 40 percent of the world’s cocoa beans are grown, leading to the significant depletion in the number of certified fairtrade cocoa farmers. This caused a shortage of cocoa beans and decreased total international cocoa trade, affecting Whittaker’s production of chocolate. (Watkins and Thornhill 2011)
5. Segmentation, Targeting & Positioning
5.1 Marketing Segmentation
5.1.1 Importance of market segmentation
“Market segmentation involves viewing a heterogeneous market as a number of smaller homogeneous markets, in response to differing preferences, attributable to the desires of consumers for more precise satisfaction of their varying wants.”(Smith, 1956 as cited by Wedel. M., Kamakura. W., Market segmentation, 2000, pp 3).
It is important for Whittaker’s to have market segmentation, as customer requirements are too diverse. Focusing their limited resources on customer groups with the same requirements allows for better utilisation of resources and opportunities to create a competitive advantage. (Dibb and Simkin, 1997)
5.1.3 Whittaker’s targeted segment