Edible Arrangements Management Strategy

What is Edible Arrangements?

Edible Arrangements (headquartered in Wallingford, Connecticut) is the focus of this article.  Edible Arrangements has an amazing display of their transformation since the late 1990’s via their website.  The Edible Arrangement’s mission is “To Wow You!” is fun and simple to understand (Edible Arrangements, 2009). When a prior marketing manager developed Edible Arrangement’s advertising campaign before the marketing strategy, he/she exposed Edible Arrangement’s to negative financial outcomes because in marketing, advertising must support a marketing strategy that at a minimum identifies market segment, pricing, benchmarking, and competition.

 

Edible Arrangement Marketing Presentation

In preparation for a CEO Edible Arrangement marketing presentation below is a strategy to ultimately increase consumer and business-to-business profits. Objectives to be accomplished will be identified via “clear and reachable, and SMART, that is the SMART goals concept of “Specific, Measurable, Achievable, Relevant, Time Bound”  (MindTools, 1996-2017).  As such, the following are several goals: increase both consumer and business-to-business sales by 5% over the next fiscal year period.  The source of information identifying increased sales will be derived from each market region.  The expected 5% sales increase is expected to be achievable as we will implement staff incentive programs to perform local marketing events for business-to-business and consumer sales.  As well, goals will be achieved based on a new marketing approach towards non-traditional holidays to attract and excite a more diverse community.  The overall 12-month timeframe will allow enough time to increase events and promotions and/or readjust after an initial 90-day review.

We will use the 3 C’s of marketing strategy to identify 1) customers; 2) competitors; and, 3) value proposition which will lead us to success in our market strategy and goals.  The customer target market we will focus on will be a market segment towards non-traditional consumer businesses and new business-to-business work related events.  Creating a focus on a culture that Edible Arrangements has yet to tap into and of which will place us a leader.  Competitors will be identified via on-line sales as local competitors are non-existent which again, will only help us gain sale momentum.  The one ‘C’ strategy of concern for Edible Arrangements is the lack of secure knowledge and talent to sustain saturating a new diverse market segment.  Consequently, a review will be conducted to determine required skill set/knowledge and a plan to hire and retain staff throughout each region will be addressed prior to the beginning of the new fiscal year.

Value proposition is simple based on Edible Arrangement’s mission that reads “To Wow You”.  Imagine those untapped consumers who crave a ‘piece-of-home’ for any number of occasions that only Edible Arrangements will offer; similarly, imagine business events where we offer healthy alternatives that are attractive and affordable while peaking each business member’s interest as a result of both traditional and non-traditional holiday and/or events.

The 4 P’s of our marketing strategy will be based on product, price, place, and promotion.  Our products will include a new variety that will peak existing and appeal to a new market.  Each new ‘basket’ will be represented by various cultures holidays or celebrations and be packaged with this same representation in mind.  The price will initially be discounted along with business-to-business special event pricing.  Advertising will be conducted at local traditional and non-traditional markets, papers and local magazines.  Promotions will be conducted via Groupon specials, TV adds, bill boards, internet sites, and businesses.

Edible Arrangements has a competitive marketing advantage as a result of its brand-based; however, once the new marketing strategy is implemented, Edible Arrangements will also have a differentiation advantage since competitors lack a cultural and business-to-business initiative.

The PLC or product life cycle represents “how strategies can and will change over time and the PLC is a tool to help see the importance of various marketing mix elements and strategic options available to the marketing manager” (Dhar, R.W.A. R. (2013).  The PLC for Edible Arrangements will be necessary to understand the impact of adding new products, market segments as well as existing products and market segments.  Existing products can be ‘re-introduced’ by way of the new products; for instance, by virtue of advertising the new, the old can be promoted which as well is expected to create sales due to on-going promotions and increasing exposure via business events.  Promotions will encourage current consumers to buy more and the added service of hosting events is an extra attraction that Edible Arrangement’s will be newly exposed.

In conclusion, goals for Edible Arrangement is achievable through a thorough marketing strategy and use of SMART.  An increase in consumer and business-to-business sales is expected in the amount of 5% for the upcoming fiscal year.

 

References

 

Dhar, R.W.A. R. (2013). Marketing Management, 4th Edition. Retrieved from: https:// vitalsource.com/#/books/9781269309646/

 

Edible Arrangements, (2009). Our Mission, Retrieved from:  https://www.ediblearrangements.com/About/OurMission.aspx

 

Mindools, (1996-2017), SMART Goals, How to Make Your Goals Achievable, Retrieved from:

https://www.mindtools.com/pages/article/smart-goals.htm