Marketing Research on Whittaker's
1. Introduction
1.1 Purpose
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.
1.2 Scope
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.
1.3 Background
The background of this report is to ensure that Whittaker’s do proper strategic planning to keep up with the ever-changing environment and trends in the market, to have a competitive advantage over their competitors and meet the varying needs of the consumers, in this case shifting the position of their chocolate products to becoming more luxurious and catering more to the health-conscious. Doing an environmental scan is very essential to find out the present situation of the market as it would enable Whittaker’s to determine what new markets it should enter or new products to innovate or focus on.
2. Industry Overview
The industry that Whittaker’s operates in would be Chocolate and Confectionery Manufacturing. The chocolate industry, consisting of 152 businesses, holds the biggest share in the confectionery market and it has been gradually increasing and remained resilient over the years, with expectations to grow by 2.3% in 2008-2013 to a total of $3.23 billion in revenue. A rising health trend is now occurring and a change of consumer’s needs and wants is shifting toward the healthy lifestyle (IBIS world, 2012).
*Graphs depicting chocolate market share and health consciousness is attached in appendix A and B
3. Company Overview
James Henry Whittaker started the
1.1 Purpose
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.
1.2 Scope
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.
1.3 Background
The background of this report is to ensure that Whittaker’s do proper strategic planning to keep up with the ever-changing environment and trends in the market, to have a competitive advantage over their competitors and meet the varying needs of the consumers, in this case shifting the position of their chocolate products to becoming more luxurious and catering more to the health-conscious. Doing an environmental scan is very essential to find out the present situation of the market as it would enable Whittaker’s to determine what new markets it should enter or new products to innovate or focus on.
2. Industry Overview
The industry that Whittaker’s operates in would be Chocolate and Confectionery Manufacturing. The chocolate industry, consisting of 152 businesses, holds the biggest share in the confectionery market and it has been gradually increasing and remained resilient over the years, with expectations to grow by 2.3% in 2008-2013 to a total of $3.23 billion in revenue. A rising health trend is now occurring and a change of consumer’s needs and wants is shifting toward the healthy lifestyle (IBIS world, 2012).
*Graphs depicting chocolate market share and health consciousness is attached in appendix A and B
3. Company Overview
James Henry Whittaker started the