Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
Need an argumentative essay on Confectionery Market. Needs to be 8 pages. Please no plagiarism.Download file to see previous pages... This is a comprehensive statement by MINTEL a marketing intelligen
Need an argumentative essay on Confectionery Market. Needs to be 8 pages. Please no plagiarism.Download file to see previous pages...
This is a comprehensive statement by MINTEL a marketing intelligence company. This explains the sudden exceptional performance of Cadbury as an impact if the overall chocolate confectionary industry sector. However, questions to be asked at this juncture are:
The issue at this pointy in time for Cadbury is to sustain this growth.pattern. However, according to statistics, on one hand it would be able to match tis growth on the other hand other segments are offering greater returns.
According to Industry Reports on 2006 Product Announcements and Sales "In 2006, thousands of new confectionery and snack products debuted tempting taste buds of consumers everywhere. 2,910 new confectionery products debuted, and Chocolate: 1,478
"Confectionery sales continue to cluster around major holidays, with Halloween leading sales in 2006 and Easter a close second. Halloween secured its lead with a 2.8 percent growth overall, while Easter stood out in 2006 posting a 7 percent sales increase thanks to a late April celebration. Also making gains, the winter holiday season and Valentine's Day both posted a 1 percent increase in 2006 and ranked third and fourth in overall holiday sales respectively."- www.whatsnewiningredients.com
The above statement depicts a new trend in marketing that is of event marketing. All over the world companies are finding events the best way to market their products to the right audience. As for confectionaries, these are impulse products most consumed after reminder advertising, brand awareness on special occasions and events. It is thus no surprise that then sales increase by 1% due to Valentines day.
New Product Development
"Top trends driving product releases of 2007/08 include flavor fusions, international influences, artisan palate, sweet benefits, simply sugar-free, originally organic, reinventing classics, the dark side and child's play" (www.whatsnewiningredients.com)
"Focussed attention in the premium and dark chocolate sectors of the market, which is providing strong growth opportunities. In April, Cadbury Schweppes relaunched the Old Gold dark chocolate brand and added a 70% cocoa variant. As a result, the brand grew 36% in Australia and by over 80% in New Zealand" (www.scoop.co.nz)
Dark Chocolate segment: " In July, a new premium chocolate range was launched under the Cadbury Eden brand, positioning the business to tap into this fast growing segment of the market Our second half innovation program continues to build momentum with the exciting launch of Cadbury Eden into the premium chocolate segment"(www.snoop.co.nz, National Confectioners Association)
It can be seen from the above statistics that the dark chocolate segment is an upcoming segment for Cadbury. Another segment that has a high potential is the organic food segment.
The various market segments that Cadbury brands are catering to are: -
Cadbury gift boxes- for valentine gifts and for special occasions -priced higher.
Cadbury Freddo-sells at a low price for kids to afford it.