Peace By Chocolate, Italy, This is our company and this is our exporting country from Canada please answer these questions.(4Ps)

4.2 Product (20 marks)

This section details your 4 P strategies and tactics: Product, Pricing, Promotion, Place/Distribution

(where/how you will sell your product(s))

1. State your top 2 - 3 Competitive Advantages.

What are your product differentiators or

competitive advantages?

Make sure they are real, defensible, and important to customers.

2. List competitive advantages that at least 3 competitors have over you.

Refer to feedback from

your earlier assignments to strengthen your response.

3. List your Unique Selling Proposition

- This should be only one or two sentences at most.

Remember, it has to be important to your target customers, and also differentiate you from your

competition.

You should incorporate elements of your key competitive advantage(s) into your

USP to really make you stand out as unique.

Be sure to incorporate the feedback you received

from your earlier assignments to really do a superb job on this.

4. Draw a Perceptual Map showing your product and at least 3 competitors (update as necessary

from your earlier assignments),

along axes that relate to your USP, and are most relevant to

your customers.

Ask yourself why you don't look attractive on your perceptual map.

You won't have a successful launch if your competitors are in a better position than you are. And

be sure to update your USP to match your perceptual map.

Use the feedback from your earlier assignments to do a great job on this.

5. Identify any changes you need to make to your packaging

- do you need to make any changes

for your export market (size, labelling, protection, language).

And remember - only make

changes if you need to!

6. Identify any service/support

you will need for your customers, and how you will

provide it, i.e. phone, email, 24x7 or during regular business hours.

7.

Discuss potential product problems and resistance from your target market

based on the preceding evaluation, and discuss what you can to do mitigate these

Please elaborate on the below answer with proper sentences/Provide a better answer for the same with if possible the perceptual map.

Product Strategy (4Ps) for Peace By Chocolate in Italy and England:

Italy:

1. Competitive Advantages:

• Unique story of how they came to Canada and how the local community helped them to succeed.
• High-quality ingredients, including traditional Syrian fillings with various nuts and spices not currently found in the Italian market.
• Social responsibility initiatives, such as supporting peace-building projects around the world.

1. Competitive Advantages of Competitors:

• Lindt & Sprngli AG, an established Swiss chocolate company with a strong brand reputation in Italy.
• Ferrero SpA, a multinational Italian chocolatier that produces popular brands such as Nutella and Kinder.
• Perugina, an Italian chocolate company founded in 1907 with a long-standing reputation for high-quality chocolates.

Unique Selling Proposition (USP): "Indulge in a taste of peace with Peace by Chocolate, crafted with premium Syrian fillings and a message of hope and compassion."

Perceptual Map: Axes: Quality and uniqueness. Competitors: Lindt & Sprngli, Ferrero, and Perugina. Positioning: Peace by Chocolate would be positioned as a high-quality, unique chocolate with a message of peace.

Packaging Changes: Peace by Chocolate may need to adjust their packaging for the Italian market to include Italian language labels and comply with Italian food safety regulations.

Customer Support: Peace by Chocolate can provide customer support through phone and email during regular business hours.

Potential Product Problems: Resistance from the Italian market due to strong competition and loyalty to established brands. To mitigate this, Peace by Chocolate can leverage their unique story and social responsibility initiatives, as well as focus on quality and unique flavor profiles.