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Transcript of Godiva Presentation
1926: Draps family begins making chocolate in Brussels, Belgium.
1940s:Joseph Draps opens the first Godiva shop.
1958: Draps opens a Paris shop, his first outside of Belgium.
1966: A majority stake in Godiva is acquired by Campbell Soup Co.; U.S. sales begin.
1968: Godiva is named the official chocolatier to the Royal Court of Belgium.
1972: Godiva's first U.S. shop opens on Fifth Avenue in New York City.
1993: Coffees, cookies, liqueur are introduced.
1994: The company starts a chain-wide redesign of its stores.
1997: Valentine's Day Chocolate & Diamonds promotional giveaway debuts.
1999: Godiva ice cream is introduced.
2003: Norman Love's G Collection of chocolates is added. Overcoming the Hurdles • A suspicion about the quality of the product
• A sales drop in Asia
• An economic downturn
• A drop in sales due to recession Europeans concerned that the Belgium chocolate was becoming Americanized Economic failure in Asia caused Godiva to loose sales, but expansion in Hong Kong and Japan carried business through When the US economy took a turn for the worse, Godiva appointed their seasoned marketer as president. They had high hopes that a new marketing strategy would boost sales. When Recession hit the US economy, Godiva turned to the passionate customers for business advice. Competitors • Scharffen Berger Chocolate Maker
• Kron Chocolatier
• Ghirardelli Godiva is really in their own arena. Competition is not a huge threat. SWOT Analysis Strengths Weaknesses Opportunities Threats Efficient manufacturing
Good Market shares
Skilled Workforce Poor Planning
Poor Upper Management
Rough connection with other locations Product line expansion
Few competitors Possible competition in future
A unyielding economy Product Description Piece of Heaven First product to be produced by Godiva Most popular with all the unique and delectable flavors Target Market 65 % to 70 % are female Mostly women in the 25 to 65 age bracket with incomes of $50,000 on average The Four P’s of Marketing Product
appeal Being more affordable and accessible
Worth the money for quality Upscale department stores
Online "upper tier" magazines including Bon Appetit, Forbes, Food & Wine, Travel & Leisure, and Gourmet
Word of mouth CASE 10-2: Godiva Chocolatier and
Godiva Gems MKT754 LECTURER: DR. CAROL TEO BOON CHUI DONE BY: “Godiva Chocolatier and Godiva Gems”
The product offered by Godiva is an affordable and accessible one that is made for every-day sharing. Godiva product available worldwide in over 80 countries around the world, operates in 450 shops and the product available over 10,000 others retailer. Therefore, make easier for consumer to obtain the products. Godiva introduced Godiva Gems at mass market with the lower price intended for customer perceived. It perfect for the consumer to gain high quality chocolates at affordable prices. Consumers also can purchase Gems bag as low as $4.99 for a range of 12 to 18 chocolates or $9.99 for a bag of 20 to 29 chocolates. 1. Identify the product offered by Godiva. Identify the different levels of the product. Discuss the attempts made by the management to come up with an augmented product. There are three different levels of the product:
The core of the product
Represents the benefit of this product, the benefit that makes it valuable to its consumers, in this case the reputation of Godiva Chocolatier (high end brand).
The actual product
Is “Godiva Gems”, the tangible, physical good.
The augmented product
The non physical part of it, is the fact that it makes a premium quality brand available in supermarkets at a lower price and the fact that it is accessible for everyday consumption. 2. Do you think that the Godiva brand could be damaged after the introduction of the new product to the lower end of the market?
Do you see any risk of cannibalization of this line extension for the existing product line? Why or why not? Explain. The Godiva brand will not be damaged by “Godiva Gems” because the marketing environment has changed and an adjustment was called for.
The 80 years old reputation of Godiva is well established and it cannot be shacked by the launch of its low-end product.
Also, as the consumer behavior changed because of the unstable economy so did Godiva had to change with it.
Godiva forecast will be in 2000 supermarket year by year.
There might be a small risk of cannibalization of this line extension for the existing product line, but if this occurs it can be used as a strategy to capture a larger market of a different market segment.
The risking the Godiva brand in consumer’s mind.
The Goldman reported that the company is not compromising the quality of its chocolates 3. Is Godiva Gems an international or a global product/brand? Discuss whether the brand holds global brand characteristics. Godiva Gems is a global brand
It holds global brand characteristics when:
- Adapting products to meet local needs and tastes.
- Creating a strong presence and distinctive identity.
- Getting close to the local culture.
- Pricing strategy.
- Adopting more aggressive point-of-purchase tactics. 4. What are the possible impacts of the country of origin and packaging in motivating consumers to purchase Godiva chocolates? “Country of Origin”
Godiva has its roots in Belgium more than 80 years and it holds 10% market share there.
Belgium is a birthplace of chocolate and where their consumption is strongest.
Different in every country.
Meet consumer’s needs.
Packaging by theme called “collection”. 5. Godiva is entering new markets like China and Turkey. What strategy would you offer to the company in its global product planning decisions in terms of standardization versus adaptation? Godiva should not change it strategy.
They have to improve their strategy to attract more global customer.
(Market entry, Creation of new market, Product specialization, Culture and etc..)
If they trust with the Godiva brand, they would not looking for other chocolates brand. Standardization :
We don’t really believe in the standardization of Godiva products.
If we do the standardization, the expansion of Godiva products would stopped. It’s because we adapt the Godiva product by the market.
We have the specials product of Godiva of each market we enter and it could not be standardized.
For example, Turkey people like peanuts so we adapt it with the chocolate with more peanuts in Turkey. China people don’t really like milk, so we adapt the product specialization with less milk in the Godiva chocolates for China market. Adaptation :
#Adaptation of product specialization of China and Turkey culture.
Celebration important days
Food style that really enjoy desserts (like sweet things)
#Adaptation of China and Turkey lifestyles.
Create the diets chocolates. So it will attract more girl teenagers to consume Godiva.
Health lifestyle. It will not stop them to eat Godiva if they changing to diets chocolate.
More advertising that shows their lifestyle with consume Godiva. #Adaptation of China and Turkey market entry.
#Creation of new market. They should focus on promoting Godiva in China and Turkey at good and right place.
Airplanes Value-added information :
Legend of Lady Godiva.
Godiva owns and operates more than 450 retail boutiques and shops. The Godiva brand is loved around the world. It’s recognized since 1845 and has a good reputation among customers. That’s why Godiva is globally and well known product.
Health benefit of Godiva using cocoa that beneficial for the human body. For the Mayans, the cocoa was known as "food of the gods".
Studies have shown that the sweet scent of chocolate can improve attention and memory, while also relieving stress. Khairunnisa Abd Zin 2012223314
Nor Faziedah Chun Lee 2012280782
Nurfarahain Mohd Saleh 2012285038
Rabiatur Rasyidah Razlan 2012802342 MBE774/2013 Founded in Belgium in 1926 One of the most expensive and famous chocolates in the world More than 450 stores all around the world In 1972 the first store in North America was opened in the Fifth Avenue in New York. THANK YOU FOR YOUR ATTENTION... Q & A Chocolate Moment~~