Lindt Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Lindt through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Lindt Product Strategy:
Lindt specializes in chocolate products, seasonal confectioneries and typical sweets. Lindt chocolate products have varied range in its marketing mix which includes: Lindor dark chocolate- A typical truffle ball introduced in 1949, it comes in the form of hard chocolate shell and a smooth chocolate filling. It is available in the form of ball or bar in a variety of flavors. Flavors such as extra dark (60%), milk outside smooth white filling, dark peppermint, hazelnut chocolate, Mocha, Cinnamon, white chocolate shell with cocoa pieces, peanut butter, Irish cream, almond case, and many more are available in the product range. Seasonal confectioneries depend upon the festivals throughout the year. Lindt have been producing the Gold Bunny, a hollow milk chocolate rabbit which is available in variety of sizes during Easter since the year 1952. They are innovative with the ribbon on the neck of the rabbit with different colors of ribbon representing different flavors of chocolate inside the Bunny. Red ribbon represents milk chocolate; Dark brown ribbon represents dark chocolate and many more. Lindt have variety of confectioneries during Christmas, which includes reindeer, Santa, Snow man, bear bells and many more which resemble the Gold Bunny. For Valentine’s Day, they offer a box, which has two kissing bunnies. Chocolate bars are available in variety of flavors, desserts, liquor chocolates and ice creams are available in the Lindt flagship stores.
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This concludes the product strategy in Lindt marketing mix & strategy.
Lindt Price/Pricing Strategy:
Below is the pricing strategy in Lindt marketing mix strategy:
Lindt faced a fluctuating market share, as the chocolate market is an oligopoly market and Lindt being one of the major players in it. Lindt prices are more than its competitor’s prices as it has a premium pricing strategy in its marketing mix but they have a good product quality leadership which distinguishes them from the rest of the players.
The chocolate comes in various sizes and shapes, with prices set at the currency exchange norms within various companies. They had some golden years where profits raised upto 25 percent in the net profit. In India the average price of a 70 percent dark chocolate on Amazon is Rs.400. This sets Lindt apart and has a good command on the affluent sector of the market. They have a good opportunity to tap emerging markets of China and India where few variations of them are available.
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Lindt Place & Distribution Strategy:
Following is the distribution strategy in the Lindt marketing mix:
Being an old company Lindt has faced World Wars, Economic crisis, challenges to expand their business worldwide on a great scale. In 1972, Lindt adopted new technologies that helped them to reduce the processing time of chocolates by more than 90 percent; also their sales hit 100 million Swiss Franc for the first time then. Due to the growing sales from countries outside the parent company, ie about 80 percent of the sales taking place outside the home country, Lindt had set up marketing and distribution centres outside Switzerland. It was expanded and diversified across European nations and the United States. They started to take orders via online medium in 1988 with 60 Lindt stores only in the US in 1998. They had subsidiaries in various countries to maintain the smooth supply chain of their products. For example, Lindt & Sprungli SA (France), Caffarel SPA (Italy), Lindt & Sprungli (USA) Inc., and many more. Currently the reach of Lindt products is more than over 100 countries worldwide. With distribution and sales companies in 4 continents, 6 production sites in Europe and 2 in the US, it has a strong supply chain management system. They place themselves as the ‘Luxury Swiss Chocolate Maker’ and their target audience is therefore high class, affluent people.
Accordingly their products is available at the airport, lounges, shopping malls and luxury stores.
Lindt Promotion & Advertising Strategy:
The promotional and advertising strategy in the Lindt marketing mix is as follows:
Lindt engages both in print advertising as well as digital advertising. They have displays, posters on airports, trains, and big shopping centers in the world. They broadcast videos via television medium, also they have set ups across airports and premium shopping malls, where customers can feel the experience of chocolate making and also taste few chocolates. This has a direct connect with probable customers and has a good chance to convert them into potential customers. Roger Federer endorses Lindt chocolates. He is such a great, respectable public figure that he has a huge impact of people and people do follow him. Lindt has a dedicated museum in Switzerland to promote its heritage. Hence this completes the Lindt marketing mix.
About Lindt:
Lindt is a common name for Chocoladefabriken Lindt & Sprungli AG, is a Switzerland based company which specializes in chocolates and confectioneries. It was founded in 1845 and has been a major player in the chocolate industry. Dieter Weisskopf is he current CEO of the company, which tapped the revenue of around 3.7 billion in the fiscal year 2016. There are various subsidiaries viz. Russell Stover, Caffarel, Hofbauer, Kufferle. These names are common amongst chocolate lovers across the world. Being headquartered in Zurich, Switzerland, Lindt has approximately 5.1% market share of the Global Chocolate market.
It is listed among the most reputable companies in Switzerland. As per 2015, the number of employees working in Lindt is approximately 13,000+.
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