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Marketing Plan: Case of Zokoko

Details of Subject
QualificationBSB61015 Advanced Diploma of Leadership and Management
Subject NameMarketing

Details of Unit(s) of competency
Unit Code (s) and NamesBSBMKG609 Develop a Marketing plan





Purpose of the Assessment
The purpose of this assessment is to assess the student in the following learning outcomes:Competent 
(C)
Not Yet Competent
(NYC)
devise, document and present a marketing plan including evaluation of marketing opportunity options

marketing strategies that utilise existing strengths and opportunities and develop resources and expertise as needed to meet objectives

marketing tactics that are legal, ethical, achievable and can be reviewed

costs, scheduling, responsibilities and accountabilities for tactics

strategic use of marketing approaches and marketing mix

rationale for objectives and chosen strategies and tactics

adjust marketing plan in response to feedback from key stakeholders and disseminate for implementation

summarise organisational structure, products and services and overall strategic and marketing objectives

Assessment/evidence gathering conditions
Each assessment component is recorded as either Competent (C) or Not Yet Competent (NYC). A student can only achieve competence when all assessment components listed under “Purpose of the assessment” section are recorded as competent. Your trainer will give you feedback after the completion of each assessmentA student who is assessed as NYC (Not Yet Competent) is eligible for re-assessment.
Resources required for this Assessment
Computer with relevant software applications and access to internet
Weekly eLearning notes relevant to the tasks/questions
Instructions for Students
Please read the following instructions carefully
  • This assessment has to be completed      In class    At home
  • The assessment is to be completed according to the instructions given by your assessor.
  • Feedback on each task will be provided to enable you to determine how your work could be improved. You will be provided with feedback on your work within two weeks of the assessment due date. All other feedback will be provided by the end of the term.
  • Should you not answer the questions correctly, you will be given feedback on the results and your gaps in knowledge. You will be given another opportunity to demonstrate your knowledge and skills to be deemed competent for this unit of competency. 
  • If you are not sure about any aspects of this assessment, please ask for clarification from your assessor.
  • Please refer to the College re-assessment for more information (Student Handbook).


PART A: MARKETING PLAN (70%)

INSTRUCTIONS & REQUIREMENTS FOR MARKETING PLAN

You are required to develop, devise and document a Marketing Plan for a Small Business or enterprise. You may wish to select any of the businesses listed below or any other business organisation where you may have gathered work experience. As mentioned above, the scope and choice of the business organisation is at your discretion. 

You do not require much information from the business itself to undertake this assessment as it is your delegated task to provide and implement a Marketing Plan for the business based on the assumptions you have made during your research. 

ORGANISATIONAL CONTEXTS

Organisations that you can choose can be (but not limited to):

  1. A large cafe/restaurant in a busy suburb
  2. A new commercial cleaning company
  3. A small Internet Service Provider
  4. A new college for International Students in Sydney, Brisbane or Perth
  5. A new supermarket with one store location
  6. A parcel delivery company
  7. A tour guiding company
  8. An online baby and toddler store 
  9. A real estate firm
  10. A new chocolate company with new brands

A template file titled as Assessment1_MarketingPlan_Template has been provided by your nominated trainer and assessor in eLearning. You can use the template or structure the plan based on the report structure provided below. 

REPORT STRUCTURE

Your Marketing Plan is assessed based on the relevance of the strategies and tactics you submit reflecting the requirements of the Performance criteria, Knowledge evidence and performance evidence of Assessment. The submitted Marketing Plan needs to address and include each of the following key points:

  1. Executive Summary
  2. Table of contents
  3. Organisation overview
  4. Products or services of the organisation
  5. Objectives with the products or services
  6. Primary and Secondary target market
  7. Major competitors and their products or services
  8. SWOT Analysis or PESTLE analysis findings detail any strategies you would implement to market the product or services of the business. Provide explanation.
  9. Market opportunity options such as target market, market penetration strategy, and other marketing strategies
  10. Marketing processes and marketing mix for this plan
  11. Plans for complying with Australian marketing laws and marketing code of ethics
  12. Action plan that may include a timeline or a Gantt chart to clarify the duration of the plan
  13. Costs and budget for the Marketing plan
  14. Conclusion 
  15. Appendix: supporting documents, attachments, pictures, diagrams and references

PART B: MARKETING PLAN PRESENTATION (30%)

Based on the Marketing Plan that you have developed and documented, in this part you are required to present your marketing plan ideas to the class. Assuming the class as your stakeholders who are likely to invest in this marketing plan, you will have to convince them that this plan will successfully help the business to reach its long term goals. 

The number of slides that you will have to prepare is at your discretion but the following marking guide criteria may provide you with the essential contents that you need to include in your presentation. 

Answer

BSBMKG609 DEVELOP A MARKETING PLAN

Executive summary

The entire study deals with the development of the marketing plan and in this regard, the study focuses on case scenario of Zokoko which is a new chocolate brand that delivers unique and amazing bean to bar chocolates in the Australian market. Hence, the study focuses on the market segmentation, marketing objective and target market for the concerned company. In the latter section, the study provides significant budget and action plan for the aforementioned company to make the market plan effective and significant. 

Introduction: Organisation overview

For having business growth, it is essential for business enterprises to develop significant market plan which is a blueprint that outlines the business efforts and advertising of marketing for the years to come. Marketing plan basically describes the business activities that involve a range of specific marketing objectives within a set of time. In this regard, the study seels to identify the opportunities to develop marketing plan and for this purpose, the study selects Zokoko which manufactures and sells chocolate in the Australian market. The company wants to develop unique and amazing bean to bar chocolate that reflects the original taste of chocolate. Further, the company has cafe in the Blue Mountains in EMU Heights. The company wants to enter the entire market of Australia and in this regard, the researcher develops marketing plan by understanding objective, marketing environment and the competitors of the company. 

Products or services of the organization 

Zokoko mainly manufacturers dark amazing bean to bar chocolates that are basically dark chocolates. The company sources the finest cacao beans from around the world and utilise the traditional artisan methods in order to make the chocolate unique. The company has a wide range of artisan bean to bar chocolates for the customers. The products offered by the company include dark chocolate, milk chocolate, drinking chocolate and others. Sourcing unique cacao and working with the farmers are the first step in the process of creating artisan bean to bar chocolate and these make the company unique from the others (Davies & Kitchen, 2015). 

Objectives with products or service

The objectives of the company includes 

  • To generate a foothold in Australian Chocolate industry 
  • To establish strong brand awareness of Zokoko in Australia 
  • To encompass a large customer base in the market of Australia 
  • To gain 4% more profitability by the end of the year 2022 

The aforementioned company wants to redesign the brand and thereby, the company wants to create a foothold in the Australian chocolate industry and establish a large customer base amid the chocolate industry of the market. 

Primary and secondary target market 

The target market can be perceived as the group of customers that an organisational entity selects in order to enhance the business growth and the financial profitability. For the concerned organisation Zokoko, it is essential to develop target customers so that, it becomes possible for the company to do marketing and reach the specific customer segments (Gallo Antolin-Lopez & Montiel, 2018). Further, it can be stated that, the identifying the target market is one of the essential steps that help to develop marketing plan for the company. 

Target market Attributes 
Primary target marketZokoko can target the upper middle-class people in the aforementioned market Australia. The company maintains the quality of the products and thereby, the prices of the products are high. Thereby, it will be beneficial for the company to target the upper middle class people who can afford the chocolate. Further, the target customers become able to spend time at the cafe of the company (Bellucci, Mari & Picciaia, 2016). Thereby, the primary target customers of the company are the upper middle class people who can purchase the company’s milk and the dark chocolates for their kids. Thus, it can be stated that, the market segment that will be able to pay a premium for having better quality chocolates will be targeted. 
Secondary target market In terms of secondary market segment, the aforementioned company can target the psychographic customer segment. In this market segment, the company targets the customers who occasionally visit the cafe and like to have liquid chocolate. In this perspective, the company targets the customers who will be able to purchase the chocolate repeatedly and hence, the company provides dark chocolate for the customers who want to enjoy the liquid chocolate. 

Table 1: Target market for Zokoko

(Source: Created by self)

Major competitors and their products or service 

There are a range of the competitors in the Australian market and thereby, the market for Zokoko is very competitive. All the major international brands that include Cadbury, Mars, Nestle and Mars are garbing the most of the market segment and gain the large market share. According to the viewpoint of Crichton et al. (2016), each of the brands comprises different tastes and in this regard, Lindt has a huge presence in the Australian market with lots of cafes. Apart from this, it can be stated that, Haigh’s is the one of the popular boutique chocolate companies in the market whereas the Koko Black is more recent chain that gaining popularity in the market. 

On the other hand, Zokoko can get a tough competition from the bean to bar chocolate makers. Most of the renowned companies include Bright Chocolate Company, Cicada Chocolate, Spencer Cocoa, Monsieur Truffle and others. In addition to this, the company may get tough competition from the chocolates made by Aldi and Wools worth. Choceur Milk Chocolate (Aldi), Just Organic Fair-trade Milk chocolate (Aldi), Lindt creamy milk chocolate, Cadbury dairy milk and Moser Roth milk chocolate (Aldi) are the major competitors of the concerned organisation.  

From the above held discussion, it can be stated that, the concerned company may get a tough competition from these brands significantly. According to the viewpoint of Trematerra, Kavallieratos & Athanassiou (2016), Haigh’s gains the large market share and thereby, it is one of the major competitors of the Zokoko.   

SWOT analysis 

One of the useful tools to develop marketing plan is the use of SWOT analysis that helps the company to have market analysis by gaining significant understanding of the strengths, weakness, opportunities and threats. 

Strengths Weakness 
Zokoko mainly focuses on the development of dark chocolate and thereby, it can be stated that liquor chocolate is then mixed with the cacao butter and sugar in order to make the product unique. 
Further, in terms of the market, it can be stated that, the buying behaviour of the customers is the strength of the market. Most of the people like to have dark liquid chocolates and thereby, it is the strength of the concept.  
One of the significant weaknesses of the company is that, the organisation does not buy Cacao in organised manner. Further, it can be stated that, the company sources Cacao from around the world and thereby, it is difficult for the company to follow all the trade policies while sourcing the ingredients. For establishing business in the Australian market, organisational entities have to follow a range of legislations and policies. Further, the political instability and high rate of inflation is performing as the weakness of the market.  
Opportunities Threats 
Zokoko mainly offers products such as dark chocolates and milk chocolates. However, there is an opportunity for the company to lies in the snacks section in the cafe to improve more customers. 

The company is facing threat in terms of cut throat competition. There are a number of competitors in the market such as Cadbury, Lindt, Haigh’s and others (Zokoko, 2018). Further, it can be stated that, people are becoming health conscious and thereby, it is essential for the companies to reduce the sugar level and offer more dark chocolate to the customers.  

Table 2: SWOT analysis of the considered strategy

(Source: Created by self)

Market opportunity options

One of the aspects of the marketing plan is to identify the market opportunities that include target market, market segmentation, positioning and the market penetration strategy. 

Market segmentation: 

Market segmentation can be perceived as the process of segregating the customers as per their buying behaviour. 

Segmentation Attributes 
Geographic segmentation The aforementioned organisation can segregate the market on the basis of geographic segmentation in which, the company targets the customers from rural, suburb and urban locations. 
Demographic segmentationIn the demographic segmentation, Zokoko targets the young generation, kids and adolescent people (Scrinis, 2016). 
Psychographic segmentationIn terms of psychographic segmentation, the concerned organisation targets the upper middle class people who prefer to buy premium quality chocolates. 
Behavioural segment In this section, the company targets school students, college goers and professionals. 

Table 3: Market segmentation

(Source: Created by self)

Positioning strategy: 

Zokoko can position itself as the luxury chocolate brand as it promises to deliver high quality and excellent tastes to the customers. It is worth mentioning that, Zokoko will use high price and high quality as the brand strategy so that, customers can easily differentiate the brand from the others. Further, it can be stated that, the positioning statement of the company will be premium quality and the competitive pricing so that, the company can improve the customer base. 


Figure 1: Marketing position of Zokoko

(Source: created by self)

Market penetration strategy: 

Market penetration strategy involves selling more to existing customers and to target customers in order to improve the market share significantly. Hence, the new demographic that is selling the products to the international visitors and the customer from the rural region will be beneficial for the company (Ramli, 2017). Hence, adaptation of the competitive pricing will be another approach for the aforementioned company. 

Marketing mix of the plan

Product strategy: 

The company offers dark and milk chocolates to the customers. Hence, the introduction of liquid chocolate with added sugar and cacao will be effective product strategy for the company. Hence, the consideration of product modification strategy in which the organisation can improve the quality and the product features will be beneficial for the company. 

Price strategy: 

From the above held discussion, the competitive pricing strategy will be effective for the company as there are a range of chocolate companies in the market. Further, it can be stated that, there are a range of similar products in the market and thereby, adaptation of skimming strategy will be beneficial for the company (Mosca, 2016). 

Promotion strategy: 

Inclusion of social media sites in the product promotion will be effective for the concerned organisation. Social media will provide cost-effective promotion strategy to the company. 

Australian marketing laws and marketing code of ethics 

For doing business in the Australian market, it is essential for the company to comply a range of laws and code of ethics. One of the most essential laws that the company needs to comply with is consumer protection law. While evaluating marketing options, the concerned organisation needs to consider legal obligations to competitors and customers to ensure there is no risk of negative publicity, legal costs and conflict (Burkhalter, 2015). Apart from this, the company needs to comply with Trade Marks Act of the year 1995, Age discrimination Act of the year 2004, Sex discrimination Act of the year 1984 for avoiding any form of political obstacles. 

Action plan 


Costs and budget for marketing plan 

Project name: Budget development for Zokoko
DeliverablesPrice
Insurance $ 15,500.00
Advertising $ 31,500.00
Product marketing $40,500.00
Legal fees $4,800.00
Promotion of the product $5,900.00
Demand generation $7,800.00
Sales enablement $6,900.00
Buying manufacturing parts $31,500.00
Total expenses $1,44,400.00

Table 4: Budget development

(Source: Self-developed)

Conclusion 

In the ever-awaiting conclusion part, it can be concluded that, the company has significant market opportunity to expand and thereby, the study has provided significant marketing plan for Zokoko. Further, the study has developed significant budget for the company so that, the company can utilise the market plan to heighten business growth significantly.

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