The paper "Ferrero Group Marketing Strategies" is an outstanding example of a marketing case study. This marketing plan is being formulated so as to guide Ferrero Group when introducing a new product in the South Korean market. This report will be of great purpose and value to the Ferrero Group since it will guide them in decision making. Through the report, they will exploit the strengths and take advantage of the opportunities while at the same time trying to address the threats and weaknesses. The report has concluded that the best strategy that is well suited for the new product in South Korea is the SO strategy and therefore, Ferrero Group needs to make use of it while introducing the new product in the specified market. Introduction Ferrero group through the use of its subsidiaries engages in the making of chocolates in addition to other confectionery products and it is the third biggest confectionery company in the globe (MarketLine 2015b).
The group has its headquarters in Alba Italy and has operations in America, Europe, Oceania, Asia and Africa. The company is privately owned by the Ferrero family and it is also termed to be the most secretive organization (MarketLine 2015b).
Since the organization is privately owned it does not publish its financial results. The company has a wide range of products in the food and beverage category such as chocolates and associated products, snacks, bakery products, mints, drinks and spreads. The company products are marketed under various brands such as Tic-tac, pocket coffee, Ferrero Rocher, kinder chocolate and kinder joy just to mention a few of them. The company also majors in a number of iced reach in lemon, peach, natural flavors and these are marketed under the name Estate (MarketLine 2015b).
This paper sets out to offer relevant background information on the Ferrero Group and South Korea and design a new product that the Ferrero group can launch in South Korea. This report will be of great value to Ferrero Group in that it will guide them on whether to launch the product in South Korea or not and the aspects to consider when operating in the country.
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