Developing a value proposition for Godiva Chocolates
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What are different segmentation bases one could use for Godiva Chocolates?
Based on these, what target markets would be best to seek out and why would this be most profitable for Godiva?
Using this information to develop a value proposition for Godiva:
What is the current positioning in the market for major competitors such as Lindt and Ghirardelli (for instance what do they promise to deliver)
What are some competitive advantages that Godiva has over these companies that it can use to separate itself (product, services, channels, people or image) and which one is the strongest to build great positioning?
How can you explain the value proposition and develop a positioning statement.
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Solution Summary
The expert develops a value proposition for Godiva Chocolates.
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Godiva Chocolates
Godiva is a popular luxury chocolate brand with more than 450 boutiques in over 80 countries. It has a strong global brand image in the industry and faces competition with major players like Ghirardelli, Hershey, Cadbury and Lindt.
The success of brand Godiva lies in their unbeatable marketing strategy and focused approach with a great combination of marketing mix.
Market segmentation of Godiva:
Godiva's consumer market can be segmented in the following customer characteristics:
? Demographic
? Geographic
? Psychographic
? Behavioristic
Their target segment is mainly high class people who associate this brand with fashion, style and prestige and high end customers who buy expensive chocolates to pamper their beloved ones (the end user). Godiva has positioned itself as a high end product for special occasions and most people have the perception that it is an unaffordable brand which they can't have easily. Godiva mainly focuses on high income group customer groups. This is their primary target market from where they generate their major revenue.
Competitors, Lindt and Ghirardelli, are also very popular in the chocolate industry. Lindt ...
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