Strategic Management of Haigh's Chocolate
Table of Contents 1. Executive Summary 1 2. Current Situation 3 3. External Environment 4 3.1 Macro Environment 4 3.2 Porter’s Five Forces Model of Competition 8 4. Internal Analysis 10 Strength 10 Weaknesses 14 5. Strategic Factor Analysis Summary (SFAS) 17 6. Current strategic 21 6.1 Business-level strategic 21 6.2 Functional-level Strategies 23 6.3 Corporate Level strategies 24 7. Recommended strategies 26 7.1 Business-level strategy 26 7.2 Functional Strategy 28 7.3 Corporate strategy 31 8. Implementation 36 Reference List 40 Appendix 43 Appendix A: External Factors Analysis Summary (EFAS) 43 Appendix B: Internal Factor Analysis Summary (IFAS) 44
1. Executive Summary
The following marketing plan forms the basis for achieving Haigh’s company vision of becoming a successful top quality chocolate confectionary provider. The recommendations based on the analysis contained in this report allows us to outline the best strategies to follow for the achievement of the company’s strategic goals. The confectionary industry in Australia is dominated by few large players with fiercely high competition. Whilst the target market Haighs plays – targeting consumers seeking high quality premium chocolate, Haighs is one of very few providers, but the quality of chocolate provided for substitutable brands are also reasonably high. Haighs would need to ensure differentiation in their product quality; brand image, brand loyalty and brand awareness to be competitive within the market place.
Haighs being a family owned and operated business, their consistent management style ensures its operational control in all areas of business are strategically aligned. In analysing Haigh’s external and internal strengths and weaknesses, operational efficiency and consistency such as efficiency in production process and stringent quality control process are found to be the main strengths whilst risk of easily being substituted with cheaper
1. Executive Summary
The following marketing plan forms the basis for achieving Haigh’s company vision of becoming a successful top quality chocolate confectionary provider. The recommendations based on the analysis contained in this report allows us to outline the best strategies to follow for the achievement of the company’s strategic goals. The confectionary industry in Australia is dominated by few large players with fiercely high competition. Whilst the target market Haighs plays – targeting consumers seeking high quality premium chocolate, Haighs is one of very few providers, but the quality of chocolate provided for substitutable brands are also reasonably high. Haighs would need to ensure differentiation in their product quality; brand image, brand loyalty and brand awareness to be competitive within the market place.
Haighs being a family owned and operated business, their consistent management style ensures its operational control in all areas of business are strategically aligned. In analysing Haigh’s external and internal strengths and weaknesses, operational efficiency and consistency such as efficiency in production process and stringent quality control process are found to be the main strengths whilst risk of easily being substituted with cheaper