Reference no: EM131396525 , Length: 1500 Words
MANAGEMENT
This is a case study based test assignment.
Total word count is 1500
Case
The Making of Godiva Gems: From Luxury & Expensive to Fast Casual Amendment of extract from Godiva Gems and Communi space for B2C Listening, Communispace, 2010. Source. Grewal & Levy, August2011
United States:
Faced with the recent severe economic downturn, the luxury chocolatier Godiva set out to determine how its customers in the United States were changing too. Godiva‘s premium products generally had been purchased and gifted only on special occasions. But in a members-only online community, called Chocolate Talk, Godiva asked customers for their insights, in the hope of discovering where and when they buy chocolate-Godiva or any other brand.
The results?
People buy Godiva for special occasions for others whom they care about or want to impress, especially during the holiday season and for their birthdays. But true chocolate connoisseurs still expressed their preference for premium chocolate, as opposed to lower end brands. Because Godiva sells in mall boutiques, purchasing the chocolates requires a special trip to the mall acceptable for a special occasion but not for an impulse treat. Therefore, when chocolate lovers wanted to buy a treat for themselves, they bought premium chocolate from the grocery or drug store where they shopped regularly.
Buying chocolate for themselves and eating it all prompted feelings of guilt in a lot of these community members. Thus Godiva realized that people enjoyed sharing chocolate with co-workers. In this setting, the individually wrapped offerings, such as Lindor Truffles and Ghirardelli Squares, were very appealing.
The company put all these insights together to arrive at a new product concept: chocolate, available in regular retail channels such as grocery stores, presented as individually wrapped treats. In so doing, Godiva also was encouraging a new consumer behavior for its customers: casual purchases of luxury Godiva chocolates.
The new Godiva Gems, stand-up bags of individually wrapped truffles, are available at drug stores and grocery stores. The extensive, technology-enabled market research that Godiva undertook in developing this product led to its widespread and great appeal. Godiva Gems may still sound luxurious, but they are not just for special occasions, nor just for others. They encourage treats for oneself, on a more frequent basis.
Tasks:
Your task for the Singapore market:
In consideration of the above information, you are required to make recommendations for the following key components of a marketing plan for Godiva Gems.
Part1: Segmentation-Targeting-Positioning strategies
Part2: Marketing Mix Strategies
Write your name clearly on the cover page.
Your assignment should be type-written.
Spacing 1.5 or double, with font size 11 Arial or size 12 Times New Roman and
Justified left.
Pages should be numbered.
A reference list with at least 5 references should accompany your paper.
Company uses simple exponential smoothing with alpha
: A company uses simple exponential smoothing with alpha = 0.1 to forecast demand for boxes of rubber gloves. The forecast for this week was 237 boxes and the actual demand was 205. What is your forecast for the next week? What is your forecast for thr..
|
Referenced test different from norm-referenced test
: Discuss what makes a criterion-referenced test different from a norm-referenced test, giving examples of each. When is it appropriate to use each assessment type?
|
Detailed management plan for patient data privacy
: The administration at St. John's Hospital takes pride in its sound policies and procedures for the protection of confidential client information. What actions, if any, should these personnel take toward the actions of the cleaning staff? Create a det..
|
Corporation adopt the safety standards of the countries
: Should a multinational corporation adopt the safety standards of the countries in which it operates or should it maintain a consistent standard across all of its operations?
|
Marketing plan for godiva gems
: In consideration of the above information, you are required to make recommendations for the following key components of a marketing plan for Godiva Gems.
|
Media work together to combat terrorism
: In what ways could the government and the media work together to combat terrorism?
|
Data driven decisions within your planning and instruction
: Discuss and explain 10 ways in which the company could become more innovative. Explain interrelation between unemployment & balance of payment deficit with equation. How important are data driven decisions within your planning and instruction? Give s..
|
Discuss your experience writing case studies
: Discuss your experience writing case studies about any company of your choice. Can you please provide the resources or information you can share with your teammates about this company?
|
Laws restricting telecommunications
: To be customer oriented, and in many cases, profit oriented are goals of: In recent decades, U.S., laws restricting telecommunications and utilities have been loosened in the spirit of greater competition, which is
|