Marketing at Valentino Chocolate Co Ltd Marketing Essay

Introduction

Valentino Chocolate Co., Ltd. is a high-quality chocolate and beverages in Thailand, Belgium, Singapore and Malaysia have competitive prices and reliable supplier. It was founded in 2001 by Suresh Kumar Sachdev (Managing Director – Thailand).

Valentino Chocolate Co. marketing executive and a staff of 10 people sales force.

Valentino Chocolate Co., Ltd. imports high-quality chocolate and as Ovidias, Kim Jong Il, Mandarin Napoleon Belgian chocolate and the well-known, well-known beverage companies

Valentino Chocolate Co., Ltd. to obtain exclusive marketing rights in Thailand Ovidias proline chocolate. Ovidias bit like d’Ivoire, Newhouse proline in the manufacture of chocolate, the main players in Belgium. Kim is in Belgium, one of the largest chocolate makers. Mandarin was founded in 1806 as the Emperor Napoleon

By the Napoleon Antoine François de Fourcroy, the ancestors of the current owner of the brand.

We are a reliable supplier of high quality, competitive price chocolate. Valentino introduced a new chocolate brand called ‘Ovidias “and” Golden Chocolate “held in Bangkok

Rationale

Valentino is a public listed company which is well-known for luxurious chocolate made in Italy and Turin. It’s chocolate which goes under the brand name of Valentino have a delicious and unique taste. In recent years, Valentino has become one of Europe’s leading manufacturers of luxury chocolates and has won many international awards. It is now on its way to becoming a global brand. For the past ten years, Valentino has expanded rapidly and now has almost 300 employees, 75 company-owned shop and a turnover of RM90 million. However, in the past two years, sales growth has slowed down and cost haven raised because of the price-cutting in the industry, production problems, a fall in demand and low staff morale. The products of the company are too limited in varieties. To make matters worse, it newly are not hitting the market well. Cost has also been continuously increasing in these few years. Consequently, it affected the company profit significantly. This has caused a fall in profits. So, the owners have set aside RM1.5 million to solve this problem and enable Valentino to become a competitive international business.

Objective

Make every effort to improve our company. To solve the company’s demand dropping problem and problem of lack of the funds. Other than that, we hope to open more foreign markets. The most important is to make an investment of £2.5 million if possible.

3. Options and benefits

The Board of Directors has agreed the following investment plan.

Firstly, we need to invest in market research. Through the market research process, we can collect and analysis the relevant data information of the market. Thus, it can make us more understanding the competitive environment and learn how to measure our services as compared to others relevant chocolate industry. Next, we should determine what information is needed to solve the problem and what resources should be used to acquire to the information. Besides that, the market research can help us a better understanding of our target customers’ changing needs and desires such as their age, gender and geographic spread. It let us can more understanding our customers and easy to hits our sales. On the other hand, market research also can help us to identify our success. It can let us minimize and reduce the risk in our business.

Product research and development is the second area that we need to develop. It is because the process of research and development can create the new product and improve the technology to increase the business’s sales and profit. Due to we have relied heavily on the success of our traditional product, product research and development should be introduced to improve our business by fulfilling the customer’s desires and needs. A good supply chain improvement is needed to introduce to reduce inventory and delivery time problem. While these will probably continue to account for more than 50% of our turnover in the next two or three years. So, we will not stay ahead of the competition if we do not vary our range.

Human resources development is the third area that we want to develop. Human resources department should be created and some human resource activities such as seminars and fun activities should be organized. It can improve the employees’ skills and morale through the activities. As a result, Valentino’s performance and results can be improved. Moreover, we need to clearly knowing our product. It is because no matter what kind of problems that the customers ask, employees can clearly explain to customers. The human resources can increase the company’s revenue through the organization. We need to recruit and retain the high performances employees. In addition, we using the right people in the right position that can achieve the maximum profit for the company.

Finally, we can create the online sales websites that widen the customer base. Customers can choose and buy our product easily through our online sales websites. Customers do not need waste too much time to go shopping rather than at home for online buying. Besides that, our online sales website also provides the product picture and price that can let the customer make a wise choice and decision. Our catalog pages displaying our product are clear and systematic. The choice of colors is smart because we provide a good color contrast, emphasizing aspects that are certain to attract a customer’s attention. In addition, our online sales are ubiquity which means available in any location at anytime. It can easy to increase our sales and profit. On the other hand, our online sales services can be treated as new revenue channel and make our company brand become more competitive in the world.

Cost

Investment in market research £50,000

Investment in research and development £70,000

Setting up online sales £30,000

Timeline

Market research: We will do the market research from October and the process will be complete in five month’s time is around end of March.

R&D: After the market research, we will speed up the ongoing process from April to increase the progress.

Online sales: In the last part. We will set up the website to promote our product after we finish the R&D and running the website by June.

Evaluation

The head of departments will hand in the monthly report to board of director. The Board of Directors will give the evaluation of the progress made in three areas.

Conclusion

In the conclusion, we have spent over £ 150,000. In the Investment in market research we have spent £ 500,000. Let us in this investment in the market more stable. In addition, we can attract more foreign investors, let the company more international. Investment in research and development we use the £ 700,000 to develop. In this development, we will follow the progress of the times and develop more new flavors echo the needs of the market. We will constantly improve the quality of our traditional chocolate. Finally, we also enter the Internet market. We are setting up online sales. In this project, we spent £ 300,000. The reason of we setting up online sales because customers can save time, do not come to our store sales are also able to pre-order to our company’s chocolate, If you purchase a certain amount, we will provide delivery service. This will make our customers more convenient.In these investments, we will earn £ 250,000 in the final.