In business knowledge is power. In considering the expansion of its product line there are a lot of unknowns. It can be like trying to find its way into the darkness without a torch. Who will buy? How many potential customers are there? What product features customers want? How the product should be able to attract these potential customers? The questions are endless. Knowing, or at least have a vision to the answers that shed light on its journey from concept to the market and increase the likelihood of success of the products. Market research is the torch.
The following is a brief study of Chocolates case about Donovan and how market research helped them to 'hit' with your new chocolate bar.
Donovan Chocolates (DC) is relatively small chocolate manufacturer run by two brothers based in Hamilton, New Zealand (NZ). Until recently, only DC had produced traditional chocolate and chocolate, traditional cakes covered. The brothers had been working on developing a new prescription. The new chocolate is made with the ingredients and does not appear naked nor any of the additives and preservatives found in all other ordinary chocolate. Your recipe gave a 'true taste of chocolate ", which was not altered by the additives. The Donovan brothers knew they were in a great product, but were not sure what the best strategy would be to bring it to market.
DC is seeking the services a marketing consulting firm to conduct research and formulate a marketing strategy for their new bar. The first steps to a significant amount of analysis competition around the confectionery bars are currently available in the market, both nationally and internationally, and how they were laid. This price includes the bar size, brand, packaging and product range. Comparing this study with data from industry sales allowed the consultants to analyze that the manufacturers were doing well and why they were doing fine.
It was unanimously agreed that the new product was a level above the current range of DC and able to compete with other products current confectionery. Therefore, it is recommended that DC introduce a new "luxury" brand. The consultants designed a survey to test the trademarks and designs potential possible with a logo database of the key influences of the mark consists of specialists, brand managers and consumer goods industry partners. It is clear from the survey that the brand of choice was the 'Donovan Brothers. The research also helped design aspects of the Donovan Brothers of the mark.
In the analysis competition was evident that the market was segmented between current chocolate bars - Cadbury, Whittaker, Lindt, etc., and organic chocolate bars - Green & Blacks, Dagoba, Scarborough Fair, etc. The new recipe was organic, but after much analysis the consultants recommended that the bar is not positioned as organic. Organic customer base, although growing, was still very small and the competition consisted of a pair of big and a lot of small manufacturers. The current main base of client chocolate bars, however, was much larger. Going against the main customers would mean that Donovan Brothers would only have to ensure a small part of the market to succeed. The consultants recommended call Donovan Brothers Bar Pure Chocolate. The word "pure" is very general and even and appealed to people who care about the content of their food. 'Pure' Donovan Brothers give a point of difference in the market bar chocolate, since it would underline that no additives or preservatives. Pure has been used successfully by other products such as New Zealand beer, water and especially in international marketing for Tourism New Zealand. This linkage of tourism was important because it was expected that chocolate is exported and sold in duty free shops.
Brother Donovan pure chocolate is available in most supermarkets throughout New Zealand and has been selling well. Research quality market ensures that Donovan Brothers were well equipped for a successful entry and are poised to deliver strong growth.
About the Author:
Kieren Ross is a consultant for Campbell Consulting. Kieren specialises in tourism research and tourism marketing. Although relatively new to the industry, Kieren has already amassed significant experience through working with businesses in the New Zealand tourism industry. Kieren has a Bachelor of Management Studies from the University of Waikato, part of which was completed at the Jonkoping International Business School in Sweden as an international exchange student. After his studies Kieren spent time backpacking through Europe before returning to New Zealand to take up a position at Campbell Consulting. http://www.campbellconsulting.co.nz/
Article Source: ArticlesBase.com - Market Research - A Vital Component of New Market Entry
White Dark Chocolate
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