Marketing Plan on LIFESAVERS(CANDY) Essay Example | Topics and Well Written Essays - 1000 words

Marketing Plan on LIFESAVERS(CANDY) - Essay Example mize the unique talents of its associates so that they can feel valued and remain associated to each other and to Wrigley by inculcating those values. The company’s strategy comprises of four-pronged approach-focusing on the workforce, work place and market place. The company is also committed to certain factors like to create consumer friendly sustainable packaging, reducing packaging weights by 10% from 2015 onwards. They are committed to use sustainable materials and partnering with sustainable suppliers, increasing recycled contents in case of packaging and designing the materials which will be effective from 2015 (Wrigley, n.d.). The company is now publicly traded in NYSE (New York Stock Exchange).The analysis of the company shows it is based on Michael Porter’s five forces model. The model is used to find out the three important aspects of the industry, competition, profitability, and attractiveness of the industry. Three forces, rivalry among existing firms, threats of new entrants and threats of substitute products is used to analyze the competitiveness of the firm (Inman & Et. Al., 2007). Marketers divide the target market into various segments on the basis of homogeneous needs. The customers are segmented on the basis of broad similarity with regards to certain attributes such as tastes, preferences. Lifesavers candy is targeted for all age group of people. Being a non-chocolate product it is free from melting in hot summers. These candies are made from fruit carp. The new innovated product serves the purpose of its customers well in the hot summer which provides a boost to the summer sales of this candy. Keeping in mind about the customers taste and preferences the candy comes in different flavors and colors. Pep O Mint, Wint O Green, sweet and sour strings, Hawaiian fruits, strawberry apple, cherry lemonade, butter Rum, wild cherry are some of its varieties. The product is available in all sizes, from small to big packs. These are mainly a