MBAN – 650 Strategic Marketing

CYPRUS AGRINO CHOCOLATE

Professor’s name: Prof. Alkis Thrasou

Student’s Name: Andria Englezou

Student ID number: U194N1374

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 TABLE OF CONTENT

Abstract 3

Mission & Vision 4

Situation analysis & Objectives 5

1. SWOT Analysis 5
2. PESTLE Analysis 10
3. Consumer Behavior 14

Segmentation – Targeting – Positioning & Objectives 16

Tactics (Marketing Mix) 19

1. Product 20
2. Place 22
3. Price 24
4. Promotion 25

Implementation & Control 27

- Action Plan 28

Conclusion 30

References 31

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Abstract

A strategic plan serves as a road map for the path your company is taking. Your vision is where
you want to go, and your mission is what you're doing to get there. Your plan is the path you
have decided to take. Geography and surroundings define the environment in which you
function. Your business is the means of transportation you use for your journey, and the culture
of your business is reflected in the feelings you have about it. Your staff is traveling with you in
the automobile, and their credentials will be helpful for a protracted trip (Lee Bolman) "A vision
without a strategy is still an illusion".
To produce high-quality products, the new chocolate factory's philosophy is determined and
governed by three key elements: a high-quality raw material supply, the use of stringent
production controls, and the preservation of traditional recipes and flavors that pay homage to
our culture and heritage. Technology-advanced equipment is used throughout the
manufacturing process, and tight quality control is always maintained to guarantee that the
product meets the highest standards of hygiene when it is delivered to clients.
By completing an analysis of the strategic positioning using PESTLE and SWOT, the objective
goals, and the strategic purpose, which includes the mission and vision, the task's primary goal
is to analyze the strategic possibilities and strategic goals for the new chocolate factory.

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A. Mission Statement

Why was a chocolate factory built in Cyprus that produces only chocolate-based food products?
The goal is to manufacture chocolate for lower-class, middle-class, and upper-class families and
kids. Instead of sticking with the conventional Belgian or German chocolate flavors, the new
chocolate factory invites customers to try something novel and even healthier. The actual
product should satisfy the needs or preferences of the intended market. To distinguish oneself
from the other chocolates at the corner store is the aim. The chocolate's characteristic "Cyprus
Agrino" shape and mouthwatering carob and honey flavor with almonds will make it simple for
all target groups to identify. Its status as a traditional Cypriot good will encourage consumers to
purchase it. Its status as a classic Cypriot product encourages people to purchase it.

Vision statement

The goal of "Cyprus Agrino" is to dominate the local market and establish itself as the leading
traditional chocolate manufacturer in Cyprus. To do this, the company plans to increase its
presence both domestically and abroad, particularly in popular summer tourist destinations like
Protaras, Limassol, and Paphos as well as the historic district of Nicosia. For instance, nations,
where we have expatriates, should get familiar with Cyprus and its products, like Germany, the
United States, the United Kingdom, Egypt, Greece, Australia, and others.

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B1. Situation Analysis & Objectives

Situation analysis is the methodical

gathering and examination of past and
present data in order to spot trends,
performances, and situations that could
have an impact on how a business is run
and the selection of the best plans. Scenario
analysis is a foundational step in the strategic planning process. Analysis Reviewing both
internal (to determine strengths and weaknesses) and exterior (to determine opportunities
and threats) factors is known as the SWOT analysis.
Although the SWOT analysis was first created for business and industrial sectors, it may
also be used for tasks involving society, health and development, education, and even
personal advancement.

CYPRUS AGRINO CHOCOLATE FACTORY

INTERNAL FACTORS EXTERNAL FACTORS

STRENGTHS WEAKNESSES OPPORTUNITIES THREATS

Location: Easy to Price problems

No website Economic Crisis
find with competitors

Higher
No advertisement to competition from
Logical Prices –
attract customers with Wide target market international and
Quality (value)
no internet access local chocolate
brands

Climate of Cyprus
Inflation can
Loyal Customers (usually hot weather) Social Standings –
cause a reduction
(mouth-to-mouth) Need refrigerator in need for new trends
in sales
selling points

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 Increase reach in the
Increase in cost of
Well trained staff No online purchases countryside and global
raw material
markets

High product Structure of the

No delivery
quality industry

Healthy
No variety of products Trends
Ingredients

Traditional
Get know Cyprus
Product

Promotion
Activities

COMPETITORS Mars, Cadbury, Sneakers, Twix, Bounty, Oreo, Lacta, Nestle

Despite Cyprus' small size, there is a lot of rivalries. There are a lot of reputable chocolate
producers. Nestle and Mars Cadbury are two examples. Always consider the decisions and
criteria that the buyer takes while making a purchase.

This is why the new chocolate plant has to be situated in an easily accessible area. It should
be close to a city and other enterprises, but not too close. The new hires must go through
extensive training with knowledgeable instructors and must continually search for ways to
broaden their expertise through a variety of seminars.

We must establish fair pricing that are neither too high nor too cheap while always bearing
in mind the current state of the economy and the prices that our competitors are charging.
Because it is a traditional product, created with nutritious ingredients like quality
chocolate, carob honey, and almonds, it would attract customers even more. Word of
mouth and clever promotion would help it gain a solid reputation. In the end, a company
looks for loyal customers.

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On the other side, the climate of Cyprus makes it difficult to sell chocolate throughout the
year. The chocolates must be stored in a cool location throughout the summer since it is too
hot outside. Every selling point must have a refrigerator. For refrigerators, a separate
budget is required. A website must be made to promote the product as soon as the factory
is ready, and the chocolates are available for purchase. Even though it is a difficult task for
those without an internet connection, it is a positive move for the business.

The chocolate factory's biggest potential achievement is that it would be a fantastic method
for other countries to learn about Cyprus and its insignia, regardless of the intended
audience. People will immediately point out that Agrino can only be found in Cyprus.
Remember that Cyprus formerly had its own Agrino-themed carrier?

B2. Objectives:

“Objectives represent a statement of what the organization is trying to achieve. The

guidelines for setting worthwhile objectives are straightforward and highlight the need for
them to be quantifiable, mutually consistent, realistic, and related to a specific timescale”.
(Fifield and Gilligan).

A business can establish its objectives or the goals it wants to accomplish during the
Marketing Strategy, by analyzing the SWOT (Strengths, Weaknesses, Opportunities, and
Threats). It represents the company's viewpoint on how it can effectively use its
capabilities and assets in the market.

These goals ought to be SMART. These goals must meet several requirements, which
include being Time-based, Specific, Measurable, Attainable, and Relevant. (SMART).

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 This means that the company's owners should be able to assess whether they are achieving
their goals and that objectives should be specific to what they want to achieve. It is
important that the goals are established in accordance with the company’s resources.
Finally, they must be set within a certain period, requiring the management team and
workers to schedule and organize their time to achieve these goals.

The objectives of every organization are dependent on:

 Existing strengths and weaknesses

 Financial budget
 Current resources
 Market potential
 Management Expertise
 Competitive Environment
 Personal Ambition

The objectives of the newborn factory are:

FINANCIAL MARKET OBJECTIVES SOCIAL OBJECTIVES

OBJECTIVES
5% increase in sales per
month compared to
corresponding months of
the previous year
10%-15% increase in sales
per year
To win significant market share Empower the supply chain workers by
across key categories and expanding and refining objection
markets systems and skills training programs by
by 2026 2026
Double revenues on tourist areas Introduce education and upskilling
by focusing its sales and measures on health and work-life balance
marketing activities on them. topic of our employees

Commerce revenues to reach Increase the share of products by 15% water savings at strategic suppliers
€500.000 by 2026 at least 25% of net sales by 2026 by 2026

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 Opening smaller
chocolate shops by the
end of the year 2026
Increase awareness
through marketing
Creation of advertising By 2026 a product with high quality at
Budget of €1000 per year
20% energy savings at strategic suppliers
by 2026
Reducing Environmental Impact: By 2026
our goal is to use only recycled raw
materials
affordable prices.
Re-cycling the chocolate boxes by the end.
of 2024 (CSR)

Organizations use PESTLE Analysis as an analytical instrument for business strategy. It is

used to pinpoint and assess outside forces that have an impact on a company, like macro-
environmental variables. This component, which has a propensity for long-term effects,
includes all the variables that influence an organization.

PESTLE framework categorizes into “Political, Economic, Social, Technological, Legal and
Environmental” factors.

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(1) Political Factors:

Refers to the demands and adjustments made by political organizations, as well as the
degree to which government regulations clash with business.

 Government policies
 Government term and change
 Trading policies
 Election and political movements
 Inter-country relationship
 Bribery
 Officialism
 Conflicts
 Wars
 Terrorism
 Internal political problems

These variables specify the potential impact of government policy on an entity. Along with
commerce, fiscal, and taxation strategies, this may also refer to government strategy. Many
chocolate factories import and sell because they are members of the European Union,
which boosts competition. Customers will have to pay more to purchase cocoa if the
government raises the tax rate. If the government changes, the new administration may
decide to raise the price of sweets, forcing consumers to pay more money for them.

(2) Economic Factors:

Economic variables include economic structures and regulations as well as the extent to
which the economy affects the company.

 Local economy.
 Taxation
 Inflation rate
 Economy movements
 Import/export ratios

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 International Employment
 Industry growth
 Seasonality productions
 Interest rate

These variables affect the economy's health and success, which in turn affects the
company's revenue. These variables include interest rates, labor expenses, unemployment
rates, and international exchange rates. The willingness of consumers to purchase
chocolates, which relies on the product's quality and flavor, determines their desire.
Additionally, during the centennial seasons, there is a rise in chocolate demand.

Even though Cyprus experienced an economic catastrophe, there may be room for a new
venture in the form of a chocolate plant. Due to the proprietors' immediate need for cash
and desire to complete the transaction as soon as possible, it is simpler to make a good
bargain when purchasing property at a reduced price. It is also simple to find developers to
construct your factory at a low cost because they do not presently have many employment
offers and would rather make a lower offer than shut down their business. Finding
inexpensive laborers to help you construct your chocolate plant is even simpler. Thus,
beginning a new company right away has a lot of benefits.

(3) Social Factors:

Social factors are cultural characteristics, attitudes, and beliefs that will affect the
petition for the company’s products and how the business functions.

 Demographics
 Media observations of the company
 Ethical issues
 Brand
 Technology image
 Lifestyle trends
 Taboos
 Advertising

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These social environment-focused variables assist a marketer in spotting trends and
comprehending the requirements and preferences of the target audience. The new factory
must consider how to honor and give consumers' requirements and desires top priority.
Additionally, these variables include shifting family demographics, educational attainment,
societal fads, attitudinal shifts, and lifestyle changes.

(4) Technological Factors:

Technological elements, changes, challenges, and motivations are discussed in relation to

how they affect business.

 Research and Innovation

 Maturity of a technology
 Information
 Communication
 Emerging technologies
 Competitor technology development
 Intellectual property issues

These factors consider how fast technology is evolving as well as its potential effects on
businesses. It also considers developments in digital technology, study, and development as
well as automation. Typically, it only focuses on digital technology, but it also needs to take
into consideration new manufacturing and transportation methods.

The business world will make use of the most recent technology. It will regularly carry out
research to remain up to date with technology, engage with consumers on social media, and
collect useful information to monitor what is happening with its competitors.

(5) Legal Factors:

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Legal considerations describe the rules, regulations, and bills that will have an impact on
how a company operates.

 Current legislation
 Future legislation
 International legislation
 Employment law
 Consumer protection
 Health and safety regulations
 Tax regulations
 Industry regulations

An organization must be aware of what is lawful and permitted because legal

considerations have a big impact on an organization. The company should also be informed
of any changes to the law and understand how they may affect them. These variables
include current and foreign laws, consumer protection laws, health and safety laws, and job
laws.

The business will always abide by the law, pay its fees, and keep up with any changes to the
law by researching them. Given the significance of both employee requirements and job
law, this must be considered. Additionally, the plant prioritizes each employee's health and
safety over all other factors.

Additionally, it is significant to note that governmental and legal variables are similar.
However, there is a distinction between the two: political factors are constrained by
governmental policy, whereas legal factors call for compliance.

(6) Environmental Factors:

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Environmental variables are related to ecological and environmental characteristics that
will impact how the business operates and how much demand there is for the company's
goods.

 Environmental regulations

 Ecological regulations

 Reduction of carbon footprint

 Sustainability

 Impact of weather

These elements have to do with how ecological elements and the world around us affect us.
Through the importance of CSR – Corporate Sustainability.

Responsibility takes on a serious tone. Climate recycling practices, carbon impact, refuse
disposal, and sustainability is additional regulatory considerations.

Consumer Behavior

"All marketing decisions are based on assumptions and knowledge of

consumer behavior," (Hawkins and Mothersbaugh, 2007)

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The tone of responsibility becomes serious. Additional regulation factors include recycling
methods that consider the environment, carbon emissions, waste disposal, and
sustainability.

 Provide value and customer pleasure.

 Efficiently target customers.
 Develop products and facilities.
 Make a competitive benefit.
 Grow knowledge.
 Inspire people to fund charities.
 Promote healthy customs.
 Reduce drug use.
 Realize how people view their products and how they see the competitors’ products.

Consumer behavior is essentially the study of how customers decide what they will
purchase, want, or need in terms of a good or service. It can be challenging to predict how
prospective customers will react to a novel good or service. Additionally, it aids businesses
in recognizing possibilities that have not yet been discovered.

For example, many people nowadays have shown an increase in allergies. Companies must
be alert and more careful by preventing the swing in consumer wants.

The brand-new chocolate plant needs to work to progress its expertise in accordance with
customer demands. Priority one is always the needs of the client. Although it is challenging,
the business must make an effort to close any gaps in order to try to meet any
requirements that prospective consumers may have.

The new plant also needs to think about how people perceive its goods and keep an eye on
what its rivals are producing.

Additionally, as a business, they should work to encourage and influence others by

supporting charitable causes. Giving someone who has nothing to consume even one
cookie makes them feel special and important.

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Three things influence how consumers behave:

Psychological factors: This element can include taking note of a need or circumstance, as
well as the person's capacity to comprehend or acquire new information. By
comprehending issues like these, it aids companies in developing their marketing
strategies.

• The psychology of consumer perception, feeling, brand taste, and accessible choices.

• How do social media, society, and family influences affect purchasing decisions?

• How customers experience while purchasing the goods

• What drives customer behavior and which goods do so

• Strategies for meeting customer standards. through, say, marketing initiatives. The tool
the business uses to sway the choices of consumers is advertising. Campaigns assist in
reminding customers to put their requirements and desires first when shopping.

Personal factors: personal characteristics are unique to one individual only. It might also
cover the different ways that people express themselves through their individual actions,
interests, and emotions. Additionally, it relates to their background, age, gender, society,
moral beliefs, and priorities. For instance, when deciding how much money to spend on
products, consumers of various generations often make very different choices.

Social factors: A person's social environment may consist of relatives, friends, coworkers,
or schoolmates. One's socioeconomic class, which includes their means of subsistence,
living arrangements, and degree of schooling, maybe a factor.

C. Segmentation – Targeting – Positioning & Objectives

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C1. Market segmentation:

Using market segmentation, consumers are divided into groups (segments) based on
shared requirements, preferences, and likes that call for various goods.

The bases for segmenting the Consumer market are:

 Geographic: splitting markets in terms of countries, nations, cities, etc.

 Demographic: distribute consumers according to age, gender, family size, etc.
 Psychographic: target groups according to social class, lifestyle, or personality
 Behavioral: target groups according to their knowledge, loyalty, attitude, etc.

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The new chocolate factory with the product of Cyprus Agrino targets the three markets.
For instance:

BUSINESS CUSTOMERS INDIVIDUAL CUSTOMERS CUSTOMERS THAT BUY

FOR OTHERS
Factories that produce biscuits Grandfathers that buy for
Kids are 8-12
and wants to buy chocolate their grandchildren
Parents that buy for their
Patisseries Teenagers 13-18 children that cannot buy
their selves
Customers that buy for
Supermarkets Adults
presents
Kiosks Chocolate lovers
Airport Tourists
Schools
Army

All the categories will help the emerging industry expand, either because they will
eventually all purchase chocolate to sample it out of taste aversion or because they are
aware of their own needs and wants.

Contrarily, the Cyprus Agrino chocolate will primarily target tourists because they are new
to the island and would like to try something different from the traditional candies and
because all tourists and people who shop at airports prefer to purchase traditional items.
With these two target audiences, the Cyprus Agrino will gain popularity, renown, and
recognition outside of Cyprus.

Tourists make a good target market because they always want to purchase a conventional
item from the nation they are visiting. They should take advantage of the chance to
purchase Cyprus Agrino because it is both a traditional item they seek out and something
they can give as a present to loved ones. Due to its ingredients, it is also healthy, and
thirdly, it offers Cyprus the greatest chance to promote Cypriot renown overseas. When it is

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known that the Agrino can only be found in Cyprus, people will inquire about the location
of the island and where they can see the Agrino. Curiosity will then drive them to want to
travel there and learn more about it.

Because there are so many people arriving in Cyprus or departing from Cyprus on a regular
basis, the airport is another very powerful target location. If someone doesn't remember to
buy a gift, there's a high chance that he'll buy a traditional item instead. And what could be
better than traditional, healthy chocolate in the form of the Agrino, which is unique to
Cyprus? Cyprus Agrino is an option even if a person is famished and does not want to spend
a lot of money on good food or if they have already spent their money.

Positioning:

“Positioning is not what is done to a product, it is what is created

in the mind of the target costumer” (Ries & Trout)

A product's positioning in a market refers to how that product is viewed by the target
market or pertinent customer segment in comparison to other companies. In other terms, it
is the perception of the product that the intended market has.

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Perceptual Map of Chocolates

Good quality
Cyprus
Agrino Competitors
B
Competitors
Competitors C
A

Low price High price

Competitors
E
Competitors
D

Poor quality

What place does the business currently hold in the views of the consumer and where does
the business want to hold that position? The Cyprus Agrino candies are positioned using
the perceptual map between high-quality goods and services and the midpoint of a cheap
price. The fact that they are inexpensive to buy and are good quality because of the
components is the cause. However, as was already stated, there are numerous rivals.

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D. Tactics (Marketing Mix: Product, Place, Price, Promotion)

A planned mix of the controllable elements of a product marketing plan is a common term
as common 4Ps:

 Product
 Place
 Price
 Promotion

To accomplish its goals, each business must develop the ideal marketing blend and pick the
appropriate courses of action. The target market must be made aware of the presence and
availability of the product by the marketers through advertising and marketing. The
marketing mix is about placing the right product, or a mixture of products, in the right
location, at the right time, and at the right price. Being successful at this is challenging
because you must be familiar with every element of your company strategy.

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(1) Product

Product quality refers to a product's ability to carry out its intended functions. It also
includes a product's general longevity, dependability, accuracy,
ease of use and maintenance, and other highly regarded
characteristics. Distribution choices frequently depend on the
product. Any fragile product will require special handling. For instance, transferring
chocolate of any kind or Cyprus Agrino requires a refrigerator.

One of the finest types of chocolate is Cyprus Agrino. Since it is only made in tiny pieces and
packages, it can move quickly off the shelves. Children and families from all socioeconomic
classes buy it, and it also draws tourists, particularly from nations that also make chocolate,
like Austria.

Carob honey, cocoa milk, raisins, almonds, and nuts are used to make Cyprus Agrino. When
you first cut into the chocolate, you can taste the strong syrup sweetness and feel the carob
honey dissolving on your lips.

The style and appearance of the product are also crucial. While the design is more subtle
than the product's look, it still affects the product's performance and usefulness. The
packaging for the Cyprus Agrino chocolate is intriguing. The Agrino form comes in a variety
of vibrant wrapping in colors like green, blue, pink, yellow, and orange. The gold CYPRUS
AGRINO logo is evident despite the wrapper's color, giving the chocolate a more upscale
and costly appearance. The purchaser may purchase a gilded chocolate package containing
5 to 20 pieces. The maker, location, date, ingredients, instructions for use, and other
information can all be found on the packaging. The bottom of the package has a list of the
chocolate's ingredients. Additionally, because it is an ecologically beneficial product, the
packaging can be recycled.

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Additionally, a brand is a name, term, sign, symbol, or design, or a mix of these, used to
recognize the products or services of a particular vendor or group of sellers and set them
apart from those of rivals.
Advantages and Disadvantages of Branding

ADVANTAGES DISADVANTAGES ADVANTAGES

TO BUYERS TO BUYERS TO MANUFACTURE
A brand name denotes The product tends to go up Branding is means of product
uniform quality identification
Brand names make Manufacturers, taking In a highly competitive
shopping easier (avoid advantage of the popularity market, brand names can
waste of time) of their brand names, may carve out niches for
reduce the quality gradually themselves through
product differentiation
Competition among Branding creates confusion Successful promotion- sellers
brands can and does can exert quasi-monopolistic
lead to quality power
improvement
Purchasing a socially The brand makes recall
easier
visible brand gives
them immense
psychological
satisfaction

The concept of Agrino, the symbol of Cyprus, is the most suitable for building a powerful
brand. Brand equity, also known as the worth of a brand, is determined by factors such as a
brand's high brand devotion, name recognition, perceived quality, potent brand
associations, and other assets like patents, trademarks, and channel partnerships.
According to this, many tourists, when they search about the history of a country that they
will visit when they come across a shop where the Cyprus Agrino chocolates are on the
shelves, they will realize that the product is traditional, and they will buy it as a present for
their friends or relatives who
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haven’t been to the island. This raises brand recognition when customers purchase candies
for the first time, encouraging subsequent purchases. The PLC (Product Lifecycle) is
another crucial business idea. It outlines the phases a product goes through from the time it
is first imagined until it is eventually taken off the market.

The main stages of the product life cycle are:

1. Introduction – researching, developing,

and then launching the product.
2. Growth – when sales are increasing at their
fastest rate.
3. Maturity – sales are near their highest, but
the rate of growth is slowing down, e.g.,
new competitors in the market or
saturation.
4. Decline – the final stage of the cycle when
sales begin to fall.

(2) Place

Place refers to the activity of transporting goods from the supplier to the target consumer.
For instance, the manner and locations of the product's acceptance. This migration might
be facilitated by several middlemen, including distributors, wholesalers, and stores.

While dealers and distributors are similar, they vary in one important way. Only one brand
or business may have its goods distributed by a wholesaler. On the other hand, a
distributor has access to a wide range of rival names and goods. The producer and
distributor may have a strong and tight connection, but that is not the most significant.

From a manufacturer, wholesalers buy products in bulk and keep them in warehouses.
Following that, these products are profitably sold in lesser quantities straight to another
vendor or customer.

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For financial gain, retailers are the ones who purchase goods from dealers and merchants.
After that, they will store the products and make a profit by selling them to customers.

A company can boost sales revenues and profits and maintain them for a long time by using
the appropriate location.

The correct location is a dynamic motion that is focused on reaching the right target
audience at the right time. Reaching the right target group at the right moment is the
changing goal of correct placement. It focuses on how well the target market and the
location of the company are linked, how to temporarily store products, and how to
transport them in the end.

It focuses on how well the target market and the location of the company are linked, how to
temporarily store products, and how to transport them in the end.

The Nicosia neighborhood of Latsia is home to the Cyprus Agrino Factory. The factory's
location outside of Nicosia is crucial for the business because it makes it simpler to ship its
goods across the island. Since you do not pollute their nation's capital, having the factory
outside of Nicosia's center is the best way to gain their confidence and devotion. The plant
should be constructed outside the city for more ethical reasons, as well. You don't throw
trash anywhere other than the designated garbage vehicle, and the plant exhaust does not
contaminate the city's clean air. For companies to even be constructed, the community
must be their shareholder. Cyprus Agrino is transferred in a big van where it has the
appropriate temperature in order for the product to be safe and not get melted from the
heat or even vitiated and segmented in suitable places to be sold.

On the other hand, to avoid the high competition which

anyway exists, and the Cyprus Agrino becomes a chocolate
status, is nice to consider opening small shops near tourist
areas and a small shop in the airport where people come and
go any time of day, which are target groups we gain to earn,
to sell these chocolates. The Agrino chocolate would only be
available in these stores. Nobody was able to locate them in

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the stores, booths, or any other location. Cyprus Agrino crates, which will have a lovely,
silky, and alluring gold color and be environmentally responsible, will be stacked high in
the storefronts of small businesses. The factory uses the Corporate Vertical Marketing
System (VMS) channel, in which producers, wholesalers, and retailers act as an integrated
system. One channel member owns the others, has contracts with them, or has so much
power that they all cooperate.

(3) Price

A crucial component of the marketing equation is pricing. This significance stems from the
fact that, in contrast to the other components of the marketing mix, price is a source of
revenue and earnings. The business can cover its costs through pricing, which also covers
the costs of manufacturing, distribution, and advertising.

Simply put, price is the monetary value associated with the portion of a deal between two
parties where the customer must forfeit something (the price) in exchange for something
provided by the vendor or the other party.

The owner must choose his approach to the merchandise before deciding on a price. The
proprietor can establish the rates once he determines his target market and positioning.
However, the marketing balance influences the cost. The marketing staff determines the
appropriate price for the merchandise. The customer's willingness to pay corresponds to
the amount that the team chooses. The business must make sure that the product cost is
more affordable if the price does not correspond to the style of distribution.

A company's pricing strategy and methodology evolve over time and in response to
external factors. Because of this, there isn't a set approach that can help a business with its
pricing efforts. Developing Marketing Strategy begins with a thorough market study that
serves as a rational foundation for choosing prices. Make decisions regarding the
marketing mix next. For instance, the marketing mix planning kicks in once the groups and
messaging are largely established. Here, choices should be made with an eye toward the
goods, distribution, and promotional aspects.

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Estimate the Demand Curve after that. At this time, a new market study must be done. In
this case, precise information regarding how the price affects the amount of the product
requested must be gathered. Also, add up the expenses. The overall set and variable
expenses related to the merchandise can now be accurately estimated for the owner. These
are essential factors in pricing decisions because the end price must at the very least pay
these expenses.

The business is now in a good situation to determine the best price for its merchandise
using all the data that has been gathered and examined.

Cyprus Agrino decided that its price range will be low as it is a traditional product, new in the
market and its target group is people of all social classes.
Price list:
a) Chocolate sold 1 by 1: €0.50
b) Package of 5 chocolates: €5.00 (€1.00 each)
c) Package of 10 chocolates: €9.00 (€0.90 each)
d) Package of 20 chocolates: €16.00 (€0.80 each)
e) GOLD Package of 50 chocolates: €30.00 (€0.60 each)

(4) Promotion

Serves to improve company loyalty, leads to higher sales, and raises customer awareness of
their goods. As a result, the marketing mix's promotion is an instrument that aids in the
dissemination of knowledge, motivates purchases, and influences the choice to make a
purchase. Distribution choices are directly impacted by these decisions about marketing.

The primary method of marketing for Cyprus Agrino will be Facebook. Its Facebook profile
will be named “Cyprus Agrino-Traditional Cypriot Chocolates” and it will present the
history and the mission of the manufacturer, the location of the manufacture, the resellers
of the product, the price list, the ingredients of the chocolate, videos while the chocolate is
produced and its packaging.

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To build a large following of devoted consumers who spread the word about their positive
experiences and encourage their friends to try Cyprus Agrino candies, another marketing
strategy that Cyprus Agrino will employ is "mouth-to-mouth" communication.

There are many methods of sales promotion, including:

 Money off coupons – customers receive coupons, or cut coupons out of newspapers or a
product’s packaging that enables them to buy the product next time at a reduced price.
 Competitions – buying the product will allow the customer to take part in a chance to
win a prize.
 Discount vouchers – a voucher (like a money-off coupon)
 Free gifts – a free product when buying another product.

Point-of-sale materials, like posters and exhibit stands, are methods to showcase a product
or alert customers to its presence.

Cyprus Agrino developed the GOLD bundle so that parents could give their child's
classmates on their birthday and boost sales. Compared to purchasing chocolates one by
one or in bundles of 5, 10, or 20, it offers decent value (€30.00).

Cyprus Agrino developed the GOLD bundle so that parents could give their child's
classmates on their birthday and boost sales. Compared to purchasing chocolates one by
one or in bundles of 5, 10, or 20, it offers decent value (€30.00).

Cyprus Agrino will offer complimentary samples on one Saturday each month at malls or
grocery stores. They will be required to respond to a query, and if they do, they will be
given the opportunity to enter a drawing for a chance to receive a GOLD package.

They will then announce a contest on their Facebook page. Following a random selection,
the business will offer Cypriots mementos with the Cyprus Agrino insignia on them, such as
a teacup, if they share and like a picture of the Cyprus Mouflon products.

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There are also three sales promotion objectives:

Consumer promotion Trade promotion

objectives
to increase short-term
sales
to help build more
chocolate Agrino shops
to tempt consumers to try the
new product
to attract consumers away
from competitors’ products
to hold and reward loyal
customers
Sales force objectives
objectives
to motivate retailers to
to give more support for
carry new items and more
the product
stock
customers to advertise the consumer relationship-
product building promotions
to persuade them to buy in
the future

D. Implementation & Control

Marketing implementation is the

process by which marketing
strategies and plans are
transformed into marketing
activities. Daily activities that
successfully put the marketing plan to
work are included. includes
appointments, schedules, deadlines, and notes as well. Examples include achieving all of the
objectives listed in the Marketing Mix, such as Product, Price, Place, and Promotion.

These behaviors need to be reined in. The primary purpose of strategic control is to enable
an organization's management to assess whether the objectives of a plan, company, or
product are being met. Measurement, tracking, review, updating, assessing, and modifying
are all included.

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 ACTION PLAN
Expected
Month Date Activity will implement Lead
Outcome
Promotion in Mall of Cyprus – Free advertising to
01/01/2024 Free taste of Cyprus Agrino – potential customers
Offer 2 packages of 5 at price of 4 to get to know the
Department of
January euro product and the
Marketing
Promotion in Ledra Street – Free brand
01/01/2024 taste of Cyprus Agrino – Offer 2
packages of 5 in the price of 4
euro
Sales
Valentine’s Day. Buy a box of Save customers
employees
February 14/02/2024 Agrino chocolate with a red rose money due to the
from the small
as a gift free rose.
shops
Get to know the
A random day. Customers that Sales
product and give
buy a box of Agrino chocolate get employees
March 17/03/2024 them a chance to
a 2-euro coupon on their next visit from the small
visit the shop
shops
again
Save customers Sales
06/04/2024 2 days before Easter with the box
money due to the employees
April of Agrino chocolate and a bunny
07/04/2024 free bunny teddy from the small
teddy as a present
shops

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 2 days before the name day of Earn customers Sales
19/05/2024 Constantine and Helen and give and become employees
May
20/05/2024 them a present for example loyal to the from the small
small perfume chocolate shops

A random day in the summer. Sales

Promotion to the shops. Buy a employees

02/06/2024
box of Agrino chocolate and get Get to know from the small

one free the brand and shops

June
Promotion day due to the public invest to win
schools’ examination week. The loyal costumers
11-15/06/2024 promotion will be outside the test Salespeople

centers

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E. Conclusion

For consumers looking for chocolate with great taste and nutritious ingredients, Cyprus
Agrino chocolate has a lot of promise to become a famous brand name. If weaknesses are
recognized early and managed correctly by the right people, they can be turned into assets.
The chocolate business is highly competitive, so Cyprus Agrino chocolate should put more
emphasis on dish tinction. The above-mentioned recommended processes should be
followed with a special focus on chocolate promotion. In summation, the marketing
strategy must consider everything that was mentioned above.

For the new chocolate factory to be successful, it must retain its strengths, minimize its
flaws, capitalize on market openings, and endeavor to lessen any threats.

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