marketing management assignment
Marketing Management Assignment 1
Name: Yong Jie Min
BComm 19
Student ID: 32129561
Lecturer: Ong Chin Choo
Table of Contents
Executive Summary 3
Chocolate Culture in Singapore 4
Marketing Strategies - Segmentation 4
Marketing strategies – Targeting and Positioning 4 & 5
Teenagers – Students Segment 5 Children Segment 5
Marketing Mix – The 4Ps 6
Product Strategies 6
Place Strategies 7
Price strategies 7 & 8
Promotion Strategies 8
References 9
Executive Summary
The culture to eating chocolate has certainly evolved over the years in Singapore. A beautiful box of nicely wrapped chocolate was no longer appealing to Singaporeans, especially those whom are born after the 1980s and later. People of this generation go for chocolates that not only taste good but also look good. Therefore Godiva Gems would have to evaluate the markets and use certain strategies to cater their best to certain groups of customers. The strategy introduce was Segmentation, Targeting and Positioning.
Foremost, I would introduce the 4 different types of segmentation of the consumer’s market; in the situation of Godiva gems the demographic segmentation seems to be the best choice to segment the market.
By segmenting the consumer’s market into chocolate lovers and non-chocolate lovers, which would be further, break down the segment of chocolate lovers into smaller segments through differentiation. Therefore Godiva Chocolate Company will only concentrate on 2 segments as my target. They are the teenagers especially the students and children from the age group of 4 to 7. I would also include the reasons as to why these segments are more penetrable in my point of view. To add on, Positioning is about finding the best way to convince a consumer that their want could be a need.
Next I would move on to marketing mix of Godiva Gems. In product strategies, I would use value added
Name: Yong Jie Min
BComm 19
Student ID: 32129561
Lecturer: Ong Chin Choo
Table of Contents
Executive Summary 3
Chocolate Culture in Singapore 4
Marketing Strategies - Segmentation 4
Marketing strategies – Targeting and Positioning 4 & 5
Teenagers – Students Segment 5 Children Segment 5
Marketing Mix – The 4Ps 6
Product Strategies 6
Place Strategies 7
Price strategies 7 & 8
Promotion Strategies 8
References 9
Executive Summary
The culture to eating chocolate has certainly evolved over the years in Singapore. A beautiful box of nicely wrapped chocolate was no longer appealing to Singaporeans, especially those whom are born after the 1980s and later. People of this generation go for chocolates that not only taste good but also look good. Therefore Godiva Gems would have to evaluate the markets and use certain strategies to cater their best to certain groups of customers. The strategy introduce was Segmentation, Targeting and Positioning.
Foremost, I would introduce the 4 different types of segmentation of the consumer’s market; in the situation of Godiva gems the demographic segmentation seems to be the best choice to segment the market.
By segmenting the consumer’s market into chocolate lovers and non-chocolate lovers, which would be further, break down the segment of chocolate lovers into smaller segments through differentiation. Therefore Godiva Chocolate Company will only concentrate on 2 segments as my target. They are the teenagers especially the students and children from the age group of 4 to 7. I would also include the reasons as to why these segments are more penetrable in my point of view. To add on, Positioning is about finding the best way to convince a consumer that their want could be a need.
Next I would move on to marketing mix of Godiva Gems. In product strategies, I would use value added
References: Kaplan Study Guide for Marketing Management Extra Readings Don Sexton. and Donald Trump (2006) Trump University Marketing 101: how to use the most powerful ideas in marketing to get more customers. New Jersey: John Wiley & Sons, Inc., Hoboken Philip Kotler. and Gary Armstrong (2009) Principles of Marketing 13 ed. New Jersey: Prentice Hall.