Established to the commodities they select. Despite the

Established markets
cultivate intense competition, which calls for novel and innovative marketing
strategies that are new and necessary so that extant products are further
developed in unique ways. As the market continues to develop, consumers gain
more experience and develop the capacity to look for and discern more benefits
attached to the commodities they select. Despite the fact that some products
develop by a business appears to be unmodified at the develop stage of the
market, the most successful organizations have the ability to re-work extant
brands and constantly develop new ones that effectively address the constantly
evolving needs and desires of the consumer. Within the confectionery market,
strong brands such as Godiva and Cadbury have always been a defining feature. The
chocolate confectionary market has historically been characterized as by the
hegemony of a litany of well-established brands, such as Kit Kat, Godiva, and
Mars Bar. While these brands indeed tout a rich heritage, the primary necessary
in such a developed and busy market sector is innovation both in extant brands
and in the development of wholly novel ones. Brand-inspired and led innovation
is a critical facet in the burgeoning of this market because it facilitates the
capacity of a business to gain a competitive advantage. The new product for the
brand Ferrero Rocher introduced in this paper will be a new type of chocolatey
snack seeking to gain inroads in a well-established confectionary market

Definition
and Explanation of Marketing Tools and Concepts

The
strategic planning process: The strategic planning
process in marketing refers to the process that managerial and operational
staff of an organization produces and implements effective marketing
strategies. This process takes into consideration a variety of facets of a
business marketing and promotion, which contribute to the strategic marketing
planning. This process includes pinpointing promotional opportunities and
assessing the potential marketing opportunities; researching, evaluating, and
pinpointing the target markets; strategically positioning the organization with
regards to how it will pursue and implement the marketing strategy; preparing
and implementing the marketing plan; and taking measurements and assessing the
results of the marketing endeavors pursued by the business (Lorette, 2018).

S.W.O.T:
SWOT
analysis is defined as a study conducted by a business to pinpoint its internal
weaknesses and strengths in addition to its external threats and opportunities.
Organizations deploy it as a tool to audit itself and the environment in which
it operates, and it often constitutes the primary planning stage while enabling
marketers focus on key issues. SWOT is an acronym, with the “S” standing for strengths;
“w” for weaknesses; “O” for opportunities; and “T” for threats. Businesses aim
to transform their weaknesses to become their strengths, and their threats to
become ripe opportunities, which will result in an outcome in which the value
for customers increases, thereby enhancing the company’s competitive
advantages.

Market
Segmenting: Market segmenting refers to the process of
dividing a whole market into various customer segments. As such, target
marketing entails deciding what possible customer segment or multiple segments
the business will focus its efforts on. Market segmentation always transpires
prior to targeting, which enables the organization to be pickier regarding who
they market their goods and services to. In this way, market segmentation and
target are both important to make sure that the business is successful. This
process is significance because it helps the company find consumers who
optimally math the products and services of the company.

Target
Marketing: Target marketing is a process that involves
breaking a market into distinct segments and then concentrating the business’
marketing efforts on just one or a few of the most important segments that
include consumers who desires or needs most closely align with the services or
products offered. This process is integral for hiking sales, attracting new
customers, and making the organization more successful. When successful, target
marketing renders pricing, promotion, and distributions of goods and services
much easier and quite cost-effective. Overall, targeting marketing provides a
focus to a company’s marketing endeavors.

Product
Positioning: Product positioning refers to a marketing
technique that aims to present goods and services in the most positive light to
a variety of audiences. It is related to market segmenting in that it
constitutes a nascent step in a company’s major marketing campaign to ascertain
the main market that is most likely to invest and purchase a product or a bulk
of it. As such, product position calls for crafting idiosyncratic messages to
various segments, thereby involving message manipulation, and semiotics both on
the product’s packaging and display (“Product Positioning,” 2018).

Offerings:
Product, Price, and Service: A product, price, and
service offering refers more to the product itself; it is the total offer that
are available to customers. It includes various facets that represent
additional value to customers, including availability, technical support,
convenient delivery, and the quality of service. A strong product offering
differentiates a business’ product or service from competitors and generates
value by adequately meeting the desires and needs of customers better than
others.

Application
of Concepts to New Product

            Godiva is known
for its premium chocolates within a confectionary market in which there are
very few chocolate snacks that appeal to consumers. This new product was
created to enhance Godiva’s share within the snacking sector, as marketing
research pinpointed the burgeoning of snacking and a discernible chasm in the
market for this type of snack. A variety of ingredients were produced and
tested after a survey was administered to consumers, asking about their
snacking preferences, behaviors, and habits. An R team was then charged
with the responsibility of developing several product recipes that adequately
met the desires and needs articulated by consumers. Of course, not all of the
products tested successfully made it out of the product development phase. Nonetheless,
the chocolatey snack was positioned as a premium snack that children and young
adults would enjoy and consume. It was marketed as a fast and easy snack that
was not as unhealthy as eating pure chocolate, although it still had the
delicious and creamy taste of a chocolate bar. As such, the strategic marketing
strategy promoted the product as a protein-rich snack that consumers would
enjoy on-the-go that would fill them up for hours. Such an approach underscores
the health value and taste while maintaining its premium brand strength in the
company’s marketing endeavors.

Security,
privacy, ethical, and legal issues related to the digital information world and
marketing

            Digital
advertising has opened up unprecedented opportunities for markets to target and
reach consumers, which has generated security and privacy concerns among
regulators and consumers. The scale and depth of the digital ecosystem has also
rendered it an attract forum to commit fraud, thereby thwarting the security
that people once enjoyed. The technology component involved in engaging
attracting, transacting, and converted through digital forums has translated
into businesses procuring and storing the financial and personal details. While
digital marketing has rendered online transactions convenient, there are
security and privacy responsibilities that it entails. Fraud and identity theft
have become more prevalent as a result of the rise of eCommerce. Several
initiatives and legal policies in addition to a moral code, are involved when
businesses collect information from prospective or current customers, which is
why it is imperative to protect the information of customers as if it was their
own (“Digital Marketing,” 2011). Digital and social media marketing have
nonetheless emerged as effective ways to advertise a brand, product, or
service. Common ethical issues, which may have legal implications, include
misusing product reviews and fake endorsements for products; disclosing private
or sensitive information about the client or the company; posting content
without procuring the consent of the client. As such, it is imperative that all
stakeholders involve themselves in the ethical decision-making process to do
the correct thing and establish respect, trust, and credibility for all of
them.