Discuss about the Donalds Company for New Economy and Development.
Donald B is a chocolate manufacturer and known for producing varieties of quality chocolates. Currently, he owns two stores in different locations in Melbourne, Australia. Primary objective of Donald B is to enhance its presence in other parts of Australia along with expansion in international market. Thus, in relation with this, it is required for enhancing product offerings along with making the products as per the target audience’s demands and wants. This is required for the organization in relation with the establishment of an effective brand image in the target market. It is also necessary for the organization for the purpose of attainment of sustainable development and growth objectives so that an effective position could be developed in the chocolate industry. Donald B owns a chocolate company in the name of Donald’s Company (Aaker, 2010). This report will address the market trends of chocolate industry so that an appropriate marketing strategy could be developed. In relation with the development of effective marketing strategies, it is necessary for the organization to develop a marketing environmental analysis that will include macro environmental analysis and micro environmental analysis. With the help of this analysis, impact of external, international factors on the operations of small business like Donald’s Company will be discussed. Business owners cannot control the impact of external factors, thus, it is necessary for the organization to analyse business marketing strategies through which organization could be able to attain its desired goals and objectives along with the help of minimising potential threats which generates due to external as well as internal factors.
Donald’s Company is a chocolate producing company and the owner of the company Mr. Donald B is planning to expand its business in Australian states and in international market. Company’s mission and vision is to compete with the big manufacturers of cocoa products, crystallised or glazed fruit, liquorice, confectionary, marshmallow, candied nut, candied popcorn, etc. In relevance with this, organization has also contacted big supermarkets such as Woolworths, Coles, and Aldi etc. in order to match up with the target customer’s needs along with approaching to the new consumers; it is required to adopt appropriate marketing needs (Akaka, Vargo & Lusch, 2013).
This report will focus over the buyer behaviour in terms of chocolate products along with the micro and macro environmental analysis. Apart from this, competitive analysis will also be discussed in this report in relation with the organizational operations so that desired goals and objectives could be attained. In relation with this, it is necessary for an organization to evaluate certain aspects which could affect the performance. Major part of the report is to development of appropriate market growth opportunities for the organization in relevance with enhancing organizational growth and objectives. On the basis of this evaluation, appropriate market strategies will also be discussed through which the desired goals and objectives could be attained along with the development of an effective brand image in the competitive industry (Akar & Topçu, 2011).
Donald’s Company is dealing varieties of chocolates and operating with two stores in Melbourne, Australia. Mr. Donald B has seen a vision in relevance with enhancing organizational image in the national as well as international market so that desired goals and objectives could be attained. With regards to this, it is necessary to analyse current business environment’s conditions so that appropriate goals could be attained (Ang, Benischke & Doh, 2015). Donald B, owner of Donald’s Company has decided to big chocolate brands. In relation with this, it is necessary to determine various aspects of market through which appropriate marketing strategies could be developed or adopted with the objective of attainment of desired goals and objectives.
Buyer behaviour plays vital role in terms of analysing the details of the market for the purpose of enhancing organizational goals and objectives. Buyer behaviour is a significant approach under which purchasing pattern of target audience. This process also helps the organization to determine the process adopted by consumers in relation with the purchasing process along with making buying decisions. Donald’s is a chocolate manufacturing small scale company and the owner of the company is planning to expand its business in the national as well as in the international market so that appropriate objectives could be attained (Angeloska-Dichovska & Mirchevska, 2017). Thus, it is necessary for the organization to analyse the target audience’ buying behaviour so that appropriate chocolates could be made in relation with satisfying their needs and wants. With regards to the analysis of buyer behaviour, step-by-step consumer decision making process will be used so that desired outcomes could be attained. Following steps will be executed in order to determine buyer behaviour:
After analysis of market conditions and buyer behaviour, it is necessary to evaluate organizational functions along with the determination of their competitors’ strategies and their product offerings. In relation with this, it will be easy for the organization to boost up its performance along with generating opportunities for gaining competitive advantage. Chocolate products could be targeted to every age group and in relation with expansion of business along with gaining competitive advantage in the target market, it is necessary for the organization to boost up its product offering along with contracting with the adaptation of extensive distribution channel so that wide area of target market could be covered (Cornelissen & Cornelissen, 2017).
This analysis focuses on the impact of internal factors on organizational performance. These factors mainly affect organizational performance in terms of customer relationships and enhancing firm’s ability. In this analysis, internal environment of the organization is analysed and in relation with this, suppliers of the organization, intermediaries and target audience of the organization. This helps the organization to determine the opportunities for development of relevant strategies through which desired goals and objectives could be attained (Craft & Hassan, 2015).
Competitors are another major factor which affects organizational performance. In last five years, consumers’ preferences in the chocolate and confectionary industry have faced a drastic change. Demand for high fat and sugared chocolates are decreasing continuously because consumers’ main concerns are shifting towards being health conscious. Consumers’ preferences have been moved towards range of healthier drinks and products such as yoghurt. Main attributes of micro environment analysis are public, suppliers, and the marketing intermediaries. In relevance with improving organizational performance along with the development of an effective brand image in the target market, it is necessary to build a huge product offering along with the adaptation of effective marketing strategies so that the organizational products could be promoted amongst the target audience. This will help the organization to originate the demand for the organizational products through which the desired goals and objectives would easily be attained (Czepiel & Kerin, 2012).
In terms of developing and maintaining strong customer relationship, it is required for the organization to adopt appropriate marketing strategies for promoting organizational products. This will help the organization to ensure that the products will reach to the consumers within the given time frame. Ultimately, it helps the organization to develop an interaction with the target audience so that strong customer relationship could be developed (Davcik & Sharma, 2016).
Marketing intermediaries includes resellers, marketing services agencies, financial intermediary, and physical distribution firms. These parties plays a crucial in performing organizational functions in an effective manner as they help in promoting, selling as well as in distribution of the organizational products and services to the final buyers. If one of these parties would not perform as per the organizational expectations, organization will not be able to execute its operations in an appropriate manner along with the attainment of appropriate goals and objectives. Suppliers are also crucial part for performing organizational functions and in relation with this, it is necessary for the organization to maintain effective relationship with the suppliers so that the products offered by Donald’s Company in the market from their products could be retained. Suppliers have the sufficient power through which organizational performance could be enhanced as well as decreased. Thus, supplier relationship play vital role in organizational success, growth and development. As Donald’s Company’s vision is to enhance their product offerings so that they could compete with the rivals who produce cocoa products, confectionary, drinking chocolate, etc., So, it is mandatory for the organization to choose the suppliers wisely along with the adaptation of effective strategies so that neither suppliers could take benefit of the success of the organization by increasing prices for raw materials or other services provided by nor organization could be able to breach the contract (Dawson & Henley, 2012).
After reviewing these factors, organization requires to adopt appropriate set of strategies as micro environmental factors are in control of the business owner and as Donald’s Company is a small scale company, thus, organization requires to analyse each factor’s impact over organizational performance in order to enhance organizational performance along with the development of an effective workplace environment through which desired outcomes of the organization could easily be attained.
It is necessary for every organization to execute competitive analysis before expansion of business, product offerings, introduction of business in the existing or in the new market so that their product offerings along with the strategies adopted by them in order to target audience. Melbourne, where Donald B owns two chocolate stores has a long and proud history of producing chocolates. First confectionary store was opened in Melbourne in 1840s. From then, numerous chocolates were opened and closed but overall, the whole chocolate industry has seen a remarkable growth. Some of the chocolate shops in Melbourne are Mork Chocolate, Cocoa Lab, Koko Black, Pana Chocolate, Chocamama, etc. These are the main competitors for Donald’s Company when the company will serve more than they serving currently (Eppinger & Ulrich, 2015).
These all shops are famous for producing varieties of chocolates along with fulfilling their target audience. In order to attract the customers, these chocolate shops use to produce attractive chocolate dishes. This helps them to enhance their customer base along with developing a distinctive image by providing unique varieties of chocolate. In order to approach to the target audience, they mostly use digital media strategies along with integrated marketing mix tools. These methods are helpful for every organization in terms of development of organizational image in the target market along with increasing customer base (Hanssens, Pauwels, Srinivasan, Vanhuele & Yildirim, 2014).
In relation with this, it is necessary for the Donald’s Company to develop an effective marketing communication plan so that the target audience could be approached along with attracting them towards organization. Along with this, organization should also perform appropriate steps through which they could be able to enhance their product on the basis of customer’s demand and on the basis of results obtained from market analysis activity. This helps the organization to build an effective relationship with the customers along with the development of an effective brand image amongst them. In terms of marketing and promotional campaigns, organization will majorly focus over the digital media strategies whereas; traditional media mix will also be implemented in relevance with the objective of target large area of the target market (Fine, 2017).
This analysis concludes the external factors which have huge impact over organizational performance. In order to determine the factors through which organizational performance will be impacted, PEST analysis could be executed. Following are the crucial elements of PEST analysis:
In terms of chocolate industry, there are no such rules, regulations or policies through which organizations that exist in this industry could get much affected. Rest policies such as tax implications, executing organizational activities in fair manner and providing appropriate quality through which health of people does not get affected (Fischer, Albers, Wagner & Frie, 2011).
Economic factors such as interest rates, exchange rates, etc. would also does not much affect Donald’s Company’s performance because it is a small scale industry along with this, its operations will be executed at the national level only for the initial period till the time, organization could be able to reach to the benchmark where international expansion could be imagined (Fleischmann, Daniel & Welters, 2017).
These are major factors which need to be considered by the organization while expanding its business in the other parts of the Melbourne by enhancing product offering. Target audience’ demands, their preferences, buyer behaviour and such factors plays vital role as Donald’s Company is a chocolate producing firm which falls under the category of fast food items. People are becoming health conscious and fitness freaks due to demand for high sugared and high fat chocolates have decreased. In relation with this, organization should consider the target audience’s demands and wants so that sugar free chocolates could offer to the target audience. This will help the organization in relation with fulfilling the demands and wants of the customers along with moving towards the attainment of organizational desired goals and objectives (Greer & Ferguson, 2011).
Technological factors also have a slight influence over chocolate industry as it helps the organization to develop its effective image in the target market. With the help of advance technology measures, organization would be able to enhance its performance along with producing varieties of new chocolate dishes so that large area of customer base could be targeted (Gregor & Hevner, 2013).
Conclusion
From the previously mentioned information, it has been concluded that business expansion is necessary in terms of attainment of growth and development related objectives. With this regard, organization could seek for business expansion in other markets locally or internationally or in the increasing product offerings on the basis of target audience’s demands and competitors’ product offerings. This report concludes business expansion of Donald’s Company which is a chocolate manufacturer and now the owner of company has decided to expand its business in other parts of the globe through expanding its product offerings. With this regard, micro environment analysis, competitive analysis, buyer behaviour analysis and macro environment analysis has been conducted with the objective of determining the opportunities so that appropriate strategies could be developed for the purpose of executing the expansion of business.
References
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