Scenario – You are the new marketing manager of a major franchise. Select one of

Question

Scenario – You are the new marketing manager of a major franchise. Select one of the franchise companies below for which you would like to be Marketing Manager.

Edible Arrangements® - Edible fruit baskets – Creates fresh fruit arrangements and gourmet chocolate dipped fruit to order.

Assumptions

Your plan is to aggressively go after the consumer market, business market or both. In this scenario, you will be responsible for conducting the following tasks:

Observing and analyzing market trends.

Examining competitors' products and services.

Investigating ways of improving existing products and services, and increasing profitability.

Identifying target markets and developing strategies to communicate with them.

Checklist

Step 1: SMART Goals: Using the SMART acronym, provide at least three objectives you wish to accomplish.

Step 2: Core strategy/value proposition.:

Customer Target(s): Using a market development or market penetration strategy, discuss the customer target(s). For example, you may want to pursue a new market or increase sales to current customers. Provide for the CEO a more specific description of which customers you (the marketing manager) want to persuade to buy the good or service.

Competitors: For each customer target, identify a competitor (brand or company) that may be able to provide the customer target a like product that would appeal to them.

Value Proposition: What do you see as the value proposition? What are reasons for customers to purchase your brand/product?

Step 3: The 4 P’s of marketing strategy: Clearly describe each of the 4 P’s as it applies to the target market that would purchase your product.

Product

Price

Place

Promotion

Step 4: Competitive Advantage: Using one (or more) of the competitive advantages below, describe the components of this advantage and why customers will perceive them as an advantage for your good or service over its competitors’.

1. Cost-based advantage

2. Price-based advantage

3. Quality-based advantage

4. Differentiation advantage

5. Perceived quality advantage

6. Brand-based advantage

Step 5: Product Life Cycle: Identify where your good or service is positioned in terms of the product life cycle and suggest a strategy based on your analysis. What creative approaches can be used to stretch out the product life cycle of your good or service?

Please provide this in your own words ASAP.

Thanks

Explanation / Answer

1.Three objectives to be achieved as part of SMART goals as a Marketing manager for a Franchise include increasing the market and customer base, making the operations profitable and gaining expertise in the business. To achieve the market expansion, increase in sales and profitability goals a marketing plan needs to be formulated. Proper training programs needs to be conducted for improving quality and gaining expertise in the business.

2.Core strategy/Value proposition -  

Customer Targets - The new markets or customers to target for increase in business will include persons looking to experiment with gourmet experiences in various events like food festivals, travelers who want to connoisseur various cuisines, chocolate and fruit themes based cafes and restaurants, customers at resorts and leisure destinations.

Competitors include Shari's berries for chocolate and fruit themes based products , Gifttree.com and Harry & David for persons enjoying different gourmet experiences, Wine.com & Hickory Farms for events, various popular luxury hotels and resorts for customers going for fine dining experiences.

Value proposition for the products to be to purchased by the customers include providing exotic food experiences, healthy and vegetarian food, customized food baskets delivered to the doorstep.

3.4 P's of marketing strategy for the target market will be as follows

Product - Customers looking for customized products which are healthy and delicious, are passionate about food and like to gift food products. Customers are experimental and have a taste for the upcoming and evolving trends in the food market.

Price - The price of these products can be divided across various categories encouraging consumption by new customers, regular food connoisseurs and customers looking for luxury food experiences.

Place - The distribution of the products can be online, through retail outlets and alongwith various events.

Promotion - Promotion can be done through online and offline advertisements, food and social blogs, social media fan pages where customers can share their experiences, magazine articles, influencers, sponsoring live food shows and festivals or on television, sharing easy recipes with food loving customers, having offers on popular days of the year. Customized cookery dishes , mugs and t-shirts can also be sold through the outlets to boost the brand image.

4. Competitive Advantage

Differentiation advantage and quality based advantages give an competitive edge to Edible arrangements over its competitors as the products are combination of enjoyable and healthy components. Since the components are perishable, the product offerings are fresh and quality based. Also, since the brand specialises in fruit and chocolate based products, it gives the brand the opportunity to distinguish itself from other gift food retailers and premium food retailers. It increases the chances of brand recall by customers and customization increases customer loyalty.

5.Product Life Cycle : The products are positioned in growth stage. As there is increasing awareness and demand of food experiences and speciality foods the brand can build a good customer base for itself. The strategy of regularly innovating product offerings, making fan clubs of the customers, offer them exciting deals, giving information to them of the food trends in chocolate and fruit based foods can help in further growing the market. In this stage there is a need to strengthen the business against competition so expansion through opening retail outlets in popular markets will help to grow the business. Inviting chefs for live shows and sharing experiences will increase customer involvement as well provide an avenue to enter into new markets like hotels and entertainment.

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