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Analysis of the development of Ferrero Collection 代寫

 
 
 

 
 
 
 
 
 
 
 
 
 
Analysis of the development of Ferrero Collection
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Table of Contents
 
 
Executive summary..................................................................................................... 4
1. Introduction............................................................................................................. 5
2. Industry.................................................................................................................... 5
3. Micro environment.................................................................................................. 6
4. Macro environment................................................................................................. 7
5. STP........................................................................................................................... 8
6. Target market........................................................................................................ 10
7. Conclusion............................................................................................................. 10
References.................................................................................................................. 11
 

 

 

 

 
 
 
 
 
 
 
 
 
 
 

 

 

Executive summary

The main aim of this report is to analyze the business environment of Ferrero Collection and the STP of this brand. In the first section, the whole industry, macro environment and micro environment have been analyzed. In the second section, the segmentation, targeting and positioning of Ferrero Collection. The results of this report show that the macro environment and micro environment are favorable to the development of Ferrero Collection. In addition, the behavioral segmentation should be used by Ferrero to segment the market. Last but not least, it is the customers focusing on the reputation and fashion of the products that should be targeted by Ferrero Collection.
 
 
 
 
 
 
 
 
 
 
 
 

1. Introduction

Ferrero Collection, one famous brand, brings three types of confections together. The main purposes of this report include analyzing the factors influencing the development of Ferrero Collection and discussing the segmentation, targeting and positioning of Ferrero Collection. The scope of this report covers the business environment, customers’ behaviors and marketing strategies. In this research, the secondary data collected from literature and reliable are used. The limitation of this research is that the primary data collected from the consumers of Ferrero Collection are not used.   
 

2. Industry

Now confection, especially the chocolate, is favored by the young people and children. In general, the market needs in Australia have increased as well. Of course, there are some unfavorable factors influencing this industry (Sivasailam, 2013). For instance, the increasing input price of cocoa and sugar has increased the operating costs of this industry and decreased the competitiveness of the products. In addition, with more people realizing the negative impacts of chocolate and confectionery on health, the sales of this industry have been unfavorably influenced.   
 
Sivasailam (2013) argued that this industry is expected to continue to perform modestly in the following five years. Especially, the growth of market demand in domestic demand is expected to be modest as well. Therefore, the development space of this industry is great. The industry revenue is showed in Figure 1.   
 
Analysis of the development of Ferrero Collection  代寫
Figure 1. The industry revenue (Sivasailam, 2013)
 

3. Micro environment

Ferrero which was organized in 1946 is one manufacturer of and other confections. In the past several decades, the technologies used by Ferrero to produce confections have increased greatly. At present, this enterprise has focused on the development of its reputation in market and the attractiveness and innovation of its products. According to the research conducted by Muehlfeld, Weitzel, & Witteloostuijn (2011), Ferrero is the fourth greatest confection producer in the world. In general, this enterprise is in the leading position of the whole industry.  
 
The main competitors of Ferrero Collection include Barry Callebaut and Nestle. At present, the development of Nestle in this industry is fast since its products are relatively cheap and could be accepted by more people. Barry Callebaut is famous for the quality of the products made by it. In the products, some innovative ideas favored by the young people and children are added. Especially, the food additives used in the products of this brand are controlled by the enterprise strictly. Therefore, the Barry Callebaut is much more attractive to the customers. 
 

4. Macro environment

Tow important factors of macro environment, economic factor and social factor, could impact the development of Ferrero Collection greatly. Although the global economic situations are not well, the economic strength of Australia is becoming much stronger (Deng, Lu, & Wei, et al., 2010). Undeniably, the booming economy in has increased the purchasing power of the citizens (Deng, Lu, & Wei, et al., 2010). Therefore, the children and young people own enough money to consume the Ferrero Collection which is not very cheap. Therefore, the economic environment is favorable to the development of Ferrero Collection. In addition, the impacts of social environment are significant. The products of Ferrero Collection own the western features. Of course, many other cultural features are added to the products and package. In Australia where there are many immigrants from different countries, cultural diversity in products and package could attract more customers with different cultural backgrounds. Therefore, the social factors, such as the acceptance of cultures in product and package, could impact the development of Ferrero Collection.    
 

5. STP

The behavioral segmentation and geographic segmentation should be used to segment the market. In the segmentation, the benefits sought by the customers should be focused on by Ferrero. In the first place, some customers pay attention to the health and quality of the products. In addition, in consumption, some customers focus on the reputation and status of the products since they hope to improve their social status by consuming certain products (Smith, Drumwright, & Gentile, 2010). Finally, some customers hope to purchase the cheap confections. In general, the behavioral segmentation could divide the customers into several parts. In the geographic segmentation, the locations of the customers should be focused on. In general, the customers in the urban and developed regions have greater purchasing power while those in the undeveloped regions could not buy the products with higher prices. Therefore, in the sales of products, the market should be segmented geographically. 
 
Due to the fact that the needs of customers are different, to extend the market, differentiated marketing strategy should be used by Ferrero as the market coverage strategy. The enterprise could design the healthy or “green” products without any chemical additives to attract the attention of customers favoring the health and quality (Ferrero, 2013). Furthermore, it could improve the reputation of some brands of products by advertisement. In this way, some customers could improve their social status by consuming these brands. The differentiated marketing strategy could enable Ferrero Collection to be favored by more customers.
 
The reasonable positioning could promote the development of certain products. The perceptual map of Ferrero Collection is presented in Figure 1.
 
 
Price  High
 

Nestle
                      Barry Callebaut
Ferrero Collection

 
 
 

Low                                    High
Innovation
 
 Analysis of the development of Ferrero Collection  代寫
 Low
 
Figure 1. The perceptual map of Ferrero Collection
 
The prices of Ferrero Collection are not high compared with Barry Callebaut and Nestle. However, the ideas or cultural factors included in Ferrero Collection are innovative. The innovation of Ferrero Collection is one important factor attracting the young people and children.
 

6. Target market

In general, it is the young people and children that should be targeted by Ferrero Collection. In the products of Ferrero Collection, many innovative ideas which are favored by the young people are included (Begley & Boyd, 1987). Of course, the income and background of the customers should be focused on as well. The young people with high income and the children with better background could be chosen as the target customers since the prices of Ferrero Collection are not very cheap and the individuals with low income and poor background could not afford it. In the process of making decision, the young people and children mainly evaluate the attractiveness, fashion and innovation of the products while neglect the price or other aspects of the products. In order to attract the attention of these customers, Ferrero Collection should put more innovative ideas and popular cultural factors in the products. 
 

7. Conclusion

The main conclusions of this report could be classified into three parts. In the first place, in general, the macro environment and micro environment are favorable to the development of Ferrero Collection. In addition, the behavioral segmentation should be used by Ferrero to segment the market. Last but not least, it is the customers focusing on the reputation and fashion of the products that should be targeted by Ferrero Collection. 
 Analysis of the development of Ferrero Collection  代寫

References

Begley, T., & Boyd, P., (1987). Psychological characteristics associated with performence in entrepreneurial firms and smaller businesses. Journal of Business Venturing, 2(1), pp. 79-93.
 
Deng, Z., Lu, Y., Wei, K., et al. (2010). Understanding customer satisfaction and loyalty: An empirical study of mobile instant messages in China. International Journal of Information Management, 30(4), pp. 289-300.
 
Ferrero, (2013). Sharing values to create value. Retrieved from http://www.ferrero.com/social-responsibility/csr-group 
 
Muehlfeld, K., Weitzel, U., & Witteloostuijn, A., (2011). Mergers and acquisitions in the global food processing industry in 1986–2006. Food Policy, 36(4), pp. 466-479.
 
Romaniuk, J., (2012). Five Steps to Smarter Targeting. Journal of Advertising Research. DOI: 10.2501/JAR-52-3-288-290
 
Sivasailam, N., (2013). Chocolate and Confectionery Manufacturing in Australia Retrieved from www.ibisworld.com.au
 
Smith, N.C., Drumwright, M.E., & Gentile, M.C., (2010). The New Marketing Myopia. Journal of Public Policy & Marketing. 29(1), pp. 4-11.
 

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