MARKETING PLAN

Marketing Plan for Thorntons Plc

Table of Contents

Introduction3

Situation Analysis3

Company3

Product Analysis4

Customer / Market Analysis5

Competitor Analysis5

PEST Analysis7

SWOT Analysis8

Overall Objectives8

Financial Objectives8

Marketing Objectives9

Marketing Strategy9

Segmentation9

Bases of Segmentation11

Geographic Segmentation11

Demographic Segmentation11

Psychographic segmentation12

Behavioural Segmentation12

Requirements for an Effective Segmentation12

Advantages and Disadvantages of Different Segmentation Strategies13

Target-Market Selection14

Different Kinds of Targeting Strategies14

Advertise to Target Audience14

Value Proposition & Positioning15

Process15

Strategies16

Product Strategy16

Pricing Strategy17

Distribution Strategy17

IMC Strategy17

Sales Strategy18

Customer Service18

Sales Forecasts & Timetable19

Budget19

Conclusion21

References22

Marketing Plan for Thorntons Plc

Introduction

For any company, it is important to analyze various aspects of market before entering that market in order to understand the trends and buying power of customers in that market. In addition, there are various measures that need to be taken before entering a market or even before taking a step towards business (Zanias 1994: pp. 601-610).

Formally, the development of a marketing strategy involves: the diagnostic analysis (analysis external, internal analysis and diagnosis), target settings. Also, the choice of options fundamentally the (target, source volume, positioning, brand) and priority setting before developing a marketing strategy must be assessed. In addition, the formulation and evaluation of the marketing mix is also an integral part of developing marketing strategy a company (Steenkamp et al. 2003: pp. 153-159).

In this essay, we will analyze various aspects for the company “Thorntons Plc.” It will include situation analysis, SWOT analysis of the company, its marketing and financial objectives, marketing strategy, sales forecasts & timetable, and the budget for the proposed marketing.

Situation Analysis

Company

Thorntons Plc is engaged in manufacturing, retailing and distribution of confectionery and related sweet food products. It produces and distributes chocolates, continental chocolates, dark chocolates, milk chocolates, mint chocolates, white chocolates, chocolate truffles, fudges, toffees, gifts and presents, corporate gifts, and wedding favours through its retail and franchise outlets. The company primarily operates in the UK and Ireland. It is headquartered in Derbyshire, the UK, and employs around 4,375 people (thorntons.co.uk).

Product Analysis

Thorntons Plc is a UK-based company that manufactures, retails and distributes confectionery and related sweet foods. The company's key products and brands include the following (thorntons.co.uk):

Products:

Chocolates

Continental chocolates

Dark chocolates

Milk chocolates

Mint chocolates

White chocolates

Chocolate truffles bars

Fudges

Toffees

Gifts and presents

Corporate gifts

Wedding favours

Hand tied bouquets

Hampers

Jellies

Customer / Market Analysis

Chocolate confectionery sales are expected to grow by 6% in value and 1% in volume terms in 2011. The industry continues to be affected by food price inflation that includes rising prices for ingredients such as cocoa, milk and sugar. The value growth for the category stems mainly from unit price increases of 5% to £8.80 per kg. The unrest in the Ivory Coast is also seen as a reason for fluctuating cocoa prices; however other sources such as Ghana tend to compensate for supply deficiency from the Ivory Coast (thorntons.co.uk).

Competitor Analysis

The leading players in chocolate confectionery are becoming innovative with their seasonal offerings, especially around Easter. Following the success of Mars UK Ltd's MaltEaster brands, both Nestlé UK Ltd and Cadbury UK Ltd have increased their presence in seasonal chocolates. For Easter 2011, Nestlé UK Ltd launched Aero Luvabubble Lamb and a limited edition Nestlé Monster Truck Yorkie egg. Cadbury UK Ltd also invested £1 million in its Caramel ...