L-Choco: Targeting Adults & Children for Online & Offline Marketing - Essay Sample

Introduction

The target market involves adults, especially the youths, are very likely to grow a considerable liking for L- Choco. The children and a few adults will still have the lollipops. The company plans to market its products mostly via online platforms like Facebook and Instagram. Also, conducting fun selling trips within various markets will help in establishing the new brand of chocolates to the target audience.

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Revenue is a significant concern for the company to operate effectively. The company's revenue streams involve direct sales to customers and online selling. Customers will have platforms to order products online and have the suppliers do the deliveries. Since the business has been selling lollipops, it will manage from the existing revenues to pay for production costs. Other expenses that the company is going to incur include purchasing ingredients like cocoa and liquor and traveling costs for the supplies.

Bringing in a new brand of chocolates will encounter a lot of competition from other chocolate producing companies. Therefore, this company must work out this business plan to establish itself in the market. Everything within the company's expectations will be worked out carefully and professionally to ward off unhealthy competition. The problems involved are securing the market share and managing the business environment as it grows and maximizing the production of the chocolate brand.

The lollipop department will undergo some downsizing procedures. Laying off some workforce is seen to have a negative influence on those left in the company (Bergstrom & Arman, 2017). However, early communication of the lay-off of two workers in the affected department and offering voluntary choice to leave will keep the remaining workers motivated to carry on their colleague's job. Another step is reducing some equipment from the lollipop production process and putting the same into the production of chocolates. One supply truck remains for the lollipops department and the other two for supplying chocolates.

Marketing-mix, customer-specific, and firm-specific variables determine the establishment and maintaining of a customer-friendly market (Kumar, Sharma, Shah, & Rajan, 2013). The company will make sure to keep updated on timely market trends. The chocolates will be produced under maximum hygiene and packed in beautiful wrapping to attract customers. Customer promotions and bonuses for bulk-buying customers will be able to hold customers and attract more. Best pricing will get evaluated at keenly depending on the production costs and customer needs. Additionally, collecting various views from customers as to the improvements that the company should observe will be considered.

Conclusion

In conclusion, as the company grows, it aspires to open up supply stores internationally and create more job opportunities in society. In the future, other products of interest will be in mind depending on the performance of the new brand of chocolates.

References

Bergstrom, O., & Arman, R. (2017). Increasing commitment after downsizing: the role of involvement and voluntary redundancies. Journal of Change Management, 17(4), 297-320. Retrieved from https://www.tandfonline.com/doi/abs/10.1080/14697017.2016.1252784

Kumar, V., Sharma, A., Shah, R., & Rajan, B. (2013). Establishing profitable customer loyalty for multinational companies in the emerging economies: a conceptual framework. Journal of International Marketing, 21(1), 57-80. Retrieved from https://journals.sagepub.com/doi/abs/10.1509/jim.12.0107?journalCode=jiga