MKT205_Project

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Feb 20, 2024

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1 MKT 205 Project Amanda Robaska Southern New Hampshire University MKT 205: Applied Marketing Strategies David Maddox December 10, 2023

2 PRODUCT “healthy” carob (chocolate substitute) bars PERSONA Her name is Claire., She is 42. DEMOGRAPHICS Location: Persona lives in a nicer house in suburban areas of bigger cities. Marital Status: Persona is female. She is married with 2 children. 12 and 16. Occupation and Income: Persona is in management and her income level is about 70,000 a year. Education Level: My persona is a college graduate. PSYCHOGRAPHICS Hobbies and Interests: Claire loves hiking, tennis, family trips to Disney. Wants and Preferences: Claire doesn't want a lot of sugar as a snack. She and her kids are also sensitive to caffeine which is why carob would be a better option for them. Personal and Professional Goals: The persona has generally met their goals. She want's to keep up appearances. She is college educated. She has the nice house, and the nice job, and the nice car. She is married with the kids. She want's to say healthy and enjoy life. Shopping Habits and Preferences: She will invest in quality. She is generous when it comes to charity. She is active and health conscious so will spend money on things that promote wellness. Again, she want's to keep up appearances so she will also like to stay up to date on the newest technology. Lifestyle: She enjoys being with her family, going to the park, playing tennis, golfing, the YMCA, going shopping, going for drinks with coworkers after work. PROMOTION FIRST MARKETING CHANNEL

3 Description of first marketing channel: The first marketing communication channel that we would be using is an in-person event. A taste testing at a grocery store or a booth near the YMCA she and her family attends. Why this channel is appropriate for this persona: Claire loves to socialize. Whether she is out with her family, friends, or coworkers. She is most likely to pay attention to something that is more in her face, or out in the world than something that is on TV or on the radio. SECOND MARKETING CHANNEL Description of second marketing channel: My second marketing communication channel would be a little less traditional and i would use digital marketing. I would like to use social media. I think this would work for my target market. Especially because everyone uses it for one reason or another. Why this channel is appropriate for this persona: I would choose the digital marketing channel as my second option because again, Claire likes to be social. She likes to see what her friends and family are up to using social media and she is more likely to see come across ads as she is using these platforms. PRICE PRICING FACTOR: COMPETITOR PRICING Competitor pricing: Competitor pricing is when the seller knows that the buyer has already done their homework and that the buyer understands the cost of the comparable items. The seller has to price their items to entice those buyers to buy their items instead. The seller needs to take into consideration things like if their item is considered premium to the competitor then they can charge a higher price. How pricing factor is used to determine pricing: Right now we are competing with Rise Bars. I think because we are promoting our secret family recipe and maintaining "small batches" we can compare our pricing to the Rise bar and raise our price above theirs by just a few cents to make ours look premium to theirs. PRICING STRATEGY: PREMIUM General advantages and drawbacks of premium pricing strategy: I think the advantages of a premium pricing strategy will work well here because the higher cost will raise our profits faster. The downside is that because we want our target market to know we are premium to

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4 our rivals we will have to spend a little bit more on marketing our brand. The premium pricing strategy falls on the high end of quality and price! Specific advantages and drawbacks of premium pricing strategy: I think this pricing strategy will work well for my target market. Clare is always in the market for something new and healthy for herself and family. Again she is very social and likes to keep up with the Jones' as they say. I think if the chocolate is marketed this way she will be more likely to take a second look. PLACE CHANGES IN THE MARKETPLACE Change in the marketplace: The cost of everything is going up. I would like to explore inflation. How the change addresses the distribution of products to my persona: Claire is aware of rising prices everywhere. She still wants healthy alternatives for her family. I think physical retail stores are going to be the best distribution channels for her. She needs to be able to see our brand in the mix with the other choices. Because we are a premium brand we are already a higher cost and I don't think she will go out of her way to buy us. She will, however, choose us when she sees us as an option when she is buying her groceries for the week. DISTRIBUTION CHANNEL Potential distribution channel and why it is appropriate for my product and persona: Claire is aware of rising prices everywhere. She still wants healthy alternatives for her family. I think physical retail stores are going to be the best distribution channels for her. She needs to be able to see our brand in the mix with the other choices. Because we are a premium brand we are already a higher cost and I don't think she will go out of her way to buy us. She will, however, choose us when she sees us as an option when she is buying her groceries for the week. PRODUCT How product should be marketed in relation to meeting the needs and wants of my persona: The carob bar should be marketed as a popular, high-end, heathier option bar for families, and kids that are always on the go. It should also be shown that it is a good option for those looking for low sugar and less caffeine than other brands. How bringing this product to the marketplace helps support and build the Chocolate Bliss brand: I think the carob bar will help expand Chocolate Bliss into the health food or organic

5 food market and gain a whole new target market of people who are interested in their health. I think this is a huge new way for Chocolate Bliss to build their brand in a new market. EVALUATION How to evaluate the effectiveness of the marketing plan: By using quantitative and qualitative data to capture and verify information. Two quantitative data collection tools I could use to evaluate the marketing plan: Surveys. I think these could help evaluate the marketing plan because they are ideal for large numbers. They are usually standardized or closed ended questions so that makes it easier for the researchers to generalize and put the answers into the groups. Interviews. I think the interviews are helpful in evaluating the marketing plan because they allow the researchers a more personal approach and they can make more clarifications with the interviewees. This makes it easier to get direct results and more clear results. Two qualitative data collection tools I could use to evaluate the marketing plan: I thinks qualitative interviews are also helpful in evaluating the marketing plan. Again, I believe that face to face interviews are highly personal and allow for follow up questions and clarifications that a researcher wouldn't otherwise get from surveys. I think web-based surveys would cover a larger amount of people. These do cover a large amount of detail as well and because of this I think they would be a good tool in evaluating our marketing plan.

6 REFERENCES Olson, Sydney. (2022). Snack, Nutrition, and Performance Bars -US. Mintel Group Ltd. https://reports-mintel-com.ezproxy.snhu.edu/display/1099393/ Tanner, J., & Raymond, M. A. (2023). Applied marketing strategies (2nd ed.). Soomo Learning. https://www.webtexts.com Tanner, J., & Raymond, M. A. (2023). Applied marketing strategies (2nd ed.). Soomo Learning. https://www.webtexts.com

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