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Priyanka Kumari Jha
Roll no-A-
Section-A
Marketing Management
CE ll- Assignment
BY-Sandeep Makwana
Assignment of Marketing Management on Porter’s Five Force
Model
How Our Chocolate Process
I am making a report on my product Chocolate. From Cacao Bean to Chocolate, Cocoa beans are stored in warehouse and check in quality control. We concentrate on beans that they are healthy to use, After That raw cocoa is sucked up by powerful vacuums and fed into the silos. We check process the process of making chocolate starts with cocoa beans being passed through machine that clean cocoa, To bring aroma of chocolate cocoa beans are roasted in 250 degree Fahrenheit Temperature and sometimes higher degrees. Cooled quickly cocoa beans and their thin shells, which become brittle by roasting are removed A giant winnowing machine that passes the beans between serrated cones so they are cracked rather than crushed. Cocoa is separated from cocoa butter, and then other ingredients are added to the chocolate liquor the last process and most important process refining which allows the separate flavours of the individual ingredients to combine. Our Mission is that Our product taste smooth which dissolves in mouth.
Our Marketing Strategies based on Porter’s Five Forces Model
First we know that what is Porter’s Five Forces is model that identified and analyses Five competitive forces that shape every industry and help to determine an industry’s weakness and strengths.
Threats of New Entrants
Yes other organization can also enter in the business of chocolate Manufacturing. Reason is simple today generations believes on that chocolate like dark is good for health. Many of kids like to have chocolate and in other field just like cake making chocolate used in icing and people have to love them. All generation love to have chocolate and today we use chocolate as a gift for anyone. If we talk about how our strategies to avoid threats from other organization is as follows;
The product differentiation is strong within the industry, Our Industry focus on differentiated products rather than standardised products. Nowadays customers also look for differentiated products. There is strong emphasis on advertising and customer services as well. All of these Factors make the threats of new entrants a weak force within this industry. If We talk about Capital Requirements within the industry are high, Therefore for new entrants its seems to be difficult to set business as high expenditures need to be incurred.
The buyers of chocolate include customers who are looking for Energy bar such and Dark chocolate and chocolate with different taste and items just like with fruits and nuts and other flavor may be add for taste changes. In order to maintain buyer’s interest in the products of ours company, power in this context.
The product differentiation within our industry is high, which means that the buyers are not able to find alternative firms producing a particular product. These things make difficulty in switching another products, and we can take this as a opportunities for our firms.
The quality of the product is most important to the buyers in appropriate price and these thing make buyer frequent for purchases. We need to build a large loyal customer base, it can be do this through marketing e efforts
Threats of Substitute
Yes there are few substitute available in the market just like Chocolate Cake, chocolate biscuits, Cold coffees, Chocolate Sauces, Chikki, Nuts chikki, Flavour Shakes,Bakery. Because in terms of healthy jaggery can replace most of the times.
There are very few substitutes available for the products that produce in our firm. The very few substitutes that are available are also produced by low profit earning. We say that substitutes are high quality but may be more expensive we can also produce chocolate in lower price and our products varies from lost to high which customer prefer. This means buyers are less likely to switch to substitute products.
We can focus on providing greater quality in our products. As a result, Buyers would choose our products, Which provide greater quality at a lower price as compared to substitute products that provide greater quality but at a higher price.
As I mention that our company focus on differentiating products. This will ensure that buyer see products as unique and do not shift easily to substitute products that do not provide these unique benefits.
Industry Competition/Rivalry
Major competitors for our industry are other chocolate making Manufactures and baking products. The number of competitors in the industry chocolate manufactures are very few. Most of these are also large in size.
The fixed costs are high within the industry in which chocolate operates. This makes the companies within the industry to push to full capacity. Our product is differentiated from others, As result it is difficult for competing other firms to win customer trust because our product define as unique.
Our main Strategies are to be diverse, Which means we are ready for rivalry among existing firms with unique strategy terms. We focus on differentiating our products so that the action of competitors will have less effect on us and customer seek our products in term of unique and different taste.
As a Manufacture we focus on new customers rather than winning the ones from existing companies. Our product market research to understand the supply-demand and situation of market and prevent the overproduction. These thing makes us to ensure our product from loss.
By using these information and five forces analysis Strategic planes we will be able to understand how different factors under each of five forces affect the profitability of companies
Thank You
