Assignment is for a marketing class: About the Project: (Chocolate Bliss is a fictional company.) • Chocolate Bliss is financially healthy • Plans to expand into the midwestern United States • To include the launch of a new product Gourmet Truffles with fruit, herb and flower extract infusions. Focus on building the Chocolate Bliss brand and positioning the company strongly against its competitors, especially when it comes to the price point.” Be specific. According to the (fictional) case study, the Chocolate Bliss key competitor for gourmet truffles is Ghirardelli. 1. Regarding pricing strategy: Why does what the competitor charge affect pricing? Consider that some companies charge more or less as the competition for the same product. One paragraph in length. 2. Explain how competitor pricing is used to determine your approach to pricing the Gourmet Truffles. This explanation will support the team in selecting a price for Chocolate Bliss’s new product. One paragraph in length. The way products are sold is just as important as the products themselves. Distribution channels are the organizations involved in selling and promoting goods from the time they are produced until they reach end users. Distribution channels can include direct-to-consumer, retail, wholesale, distributors, or agents/brokers. Certain distribution channels provide advantages over others depending on the target market companies are trying to reach. Identify a change in the marketplace that affects the distribution of Gourmet Truffles with fruit, herb and flower extract infusions. When conducting your own research, be sure to use reliable internet sources. 3. Identify one recent change in the marketplace (purchasing habits or social, economic, and political events, for example) that you would like to explore. In one sentence, briefly describe that change. 4. In one paragraph, describe how the change may specifically address the distribution of products to your persona (see attached document with information about the persona). For example, “Baby boomers are increasingly researching, shopping, and purchasing. This means online distribution channels may be a good fit for this target market.” (You may not use this example in your own work.) 5. Name one potential distribution channel you recommend for Gourmet Truffles with fruit, herb and flower extract infusions., and explain why it is appropriate for the truffles being sold to persona (see attached document with information about persona). Your explanation should be one paragraph in length.
