Rebranding Godiva: The Yıldız Strategy Case Study Analysis
Place
Selling via the pharmacy and grocery shops in shoppingmalls, will increase the sales as well as the price of Godiva’s product. Therefore, this distribution method seems to be properly advanced with high potentiality, but under the ownership of Yildiz Holding, product availability issue could rise.
Promotion
Changing a brand photograph or identity of a renowned business enterprise demands higher promotional sports. Typical promotional sports include; TV and newspaper advertising, radio, magazines, outside signage etc. However, in terms of Godiva and today’s promotional fashion; these gears are not much beneficial. (See appendic-2 for brief description of marketing mix)
Recommendations
Yildiz Holding needs to not only focus on more innovation for growth but also on spending more on its marketing techniques in order to establish the brand’s image/identification. The company can do so with the help of innovative and different strategies by satiating marketing.
Yildiz Holding can play in by establishing close relationship with its suppliers, not only within the region but alsobeyond the region,which wouldhelp it in reducing the manufacturing cost.
Yildiz Holding Godiva can be recognized after getting its products differentiated. It can provide unique advantages to its customers by higher information their wishes via market research, offering the customers with what they want. It can be possible for the company to build a competitive recognition in the market by offering the customers with very unique products, which they won’t be able to find from the offers made by the company’s competitors.
Action Plan
- Instead of just concentrating on acquisition, Godiva Yildiz Holding needs to be more focused on establishing its brand’s identification by using different channels of marketing.
- Godiva Yildiz Holding needs to develop close relation with suppliers all over the world. It should provide different benefits to suppliers in order to take advantage of Economies of scale.
Godiva Yildiz Holding should hire skilled labors in order to introduce different and innovative products for customers..............................
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