Marketing Plan for a Fair Trade Company Essay Example | Topics and Well Written Essays - 2250 words

Marketing Plan for a Fair Trade Company - Essay Example This essay stresses that business firms in the modern world face cut throat competition among themselves. It is almost impossible for a firm to achieve success in business in the modern world without an effective marketing plan. A business firm can only enjoy a broad customer base if it sets innovative and planned marketing strategies. A fair trading company is a company that involves in 100% just business transactions. This essay will enumerate an efficient marketing plan for a hypothetical fair trading firm in the confectionary industry. This paper makes a conclusion that since chocolates are mainly liked by children, while beginning its business Chocolies must adopt the program of free sampling in different schools in U.K. The enrolment rate for primary and secondary education in U.K. is very high. Thus, the program of free sampling would be expensive for Chocolies at the initial stage, but would surely help it to introduce its chocolates among almost 90% of children in U.K., who are potential buyers of chocolates (KPMG, 2012). The fair trading business firm may also sponsor many junior sports events. Sports events are not only watched by many viewers but also covered by social media. Sponsoring on such events would help the company enjoy a broad customer base for its chocolates. This report will concentrate on introducing a marketing plan for a hypothetical Fait Trading Company in the market of United Kingdom (U.K.). Situation Analysis The essay will consider the SWOT and PESTLE analysis for Chocolies (fair trading company). SWOT Strengths The biggest strength of the company is the growing consumers demand in U.K. confectionary industry. Right from its inception, the company would experience a broad customer base already parked in the U.K. confectionary industry. The chocolate confectionary business was worth approximately â‚ ¬ 5.41 billion in 2011, rising by almost 2.7% since 2007 (Sweet Retailing, 2012). Moreover, fair trading principles would surely benefit the brand popularity and prestige of the company. Weaknesses The fair trading company would have to accumulate lot of finances to succeed in its business and compete with the other potential rivals in the industry. The confectionary industry has other famous Fair Trading chocolate firms like the Devine Chocolate operating successfully in the U.K. market. Due to the rise in Diet conscious consumers, the aggregate demand for chocolates has fallen in market in the recent years. Moreover, the company would follow fair trading principles, as it would provide social welfare benefits and introduce fair trade prices for its chocolates; these policies would increase the cost of its chocolates. Cocoa beans are required to make chocolates; its total cultivable land availability is low. Disturbances in weather can often create problem for the company, as bargaining power of the suppliers would increase with such problems. The consumers may also feel that the company following fair trading prin