Market research
introduction
A leading multinational organization located in US aims to introduce its distinguished product line of chocolates in the market, Max. The specially designed chocolate to satisfy the hunger desires of younger generation along with young adults would incorporate nougat, caramel and nuts to enhance the experience of the target audience in the local and international market. The company has a well developed reputation of providing its customers with high quality products ranging from food, cold drinks and biscuits now aim to enter the chocolate market as well.
Being in such a competitive position in the international market would significantly help the organization to reach mass target customers in the domestic and international market. With the introduction of such a unique and distinguished product in the market, the organization aims to enhance its market share in every segment it operates. In addition, the newly introduced chocolate would help the organization to attract mass target audience in niche areas of US along with other parts of the world.
The newly introduced product would be a distinguished high quality chocolate that will be full of nougat, caramel and nuts to provide the customers with a unique experience that the customers could not find anywhere else in the market. Name of the product that the company is planning to launch is Max. The separate line of chocolate would also include peanuts that would allow the product to stand out in the market full of chocolate brands. The product will be positioned not as a candy bar as done by most of the chocolate brands in the market but would be positioned as an energy bar that could help the customers keep going even after a tiring day or hectic day at work.
Benefits for different stakeholders
Some of the benefits that would be provided are as follows;
Customers
Customers would be benefitted by the introduction of this product. As the product is introduced, it will be offering number of benefits to the customers as well. One of the major benefits of this product would be that the product is not only a chocolate or a candy bar, but it is also an energy bar. Those who will intake the chocolate will be able to feel energized. Therefore this would help people to make them relax a bit after a hectic day. Moreover, the product does not have any side effects like other energy drinks or energizers available in the market, therefore it would be another important benefit for the consumers.
Company
The company would be provided with several benefits in the market. Out of such benefits, increasing level of sales and revenues would be the most prominent one. The organization has a reputation to provide the customers with high quality products for almost 2 decades which will clearly attract mass target audience to use the distinguished energy bar introduced by the organization.
In addition, the organization would be provided with significant opportunities to attract variety of customers in the market. The well established brand name will attract the customers while the positioning of the energy bar would eventually create awareness regarding the newly introduced line of chocolate in the market. Increase in market share would also be an added benefit for the organization as with its own separate energy bars in the market, the organization would be able to influence the customers to purchase and experience the energy bar thus leading to increase in sales and increase in market shares.
Economy
The benefits with such energy bar will eventually provide the economy with added benefits as well. With high level of energy bars sold in the market, the customers would be spending money to purchase the product which will provide the economy with higher level of returns as well high level of investment. In addition, the organization will also aim to export the energy bars to foreign countries which will eventually help the economy to flourish due to higher level of exports of energy bars.
As the new product is introduced in the market, it will help the economy in generating more jobs and therefore this product will help in reducing the unemployment rate. Moreover, as the product will help in improving the profitability of the company and therefore it will generate more tax. So this would benefit the economy as well.
Society
The other benefit that the product will offer is for the society. This product will be beneficial for the society in a number of ways. The society needs a product that can not only offer good taste to the people in the form of candy bar or a chocolate, but the product will offer to the society as well. Besides giving a product that offers high quality and tasty chocolate and energy, the product will be created in a way that is environmental friendly. The company has been investing in CSR activities and it has invested in different projects for the community. Therefore the product will further help the society as with the success of the product, the company would invest more in CSR activities.
Conclusion
The report has presented an idea of introducing a chocolate bar with the name Max. This chocolate bar is a different product than the other prevailing chocolates in the market. There are number of reasons that make this chocolate different and some of these distinguishing features are quality, unique taste and the energy that the chocolate gives. This chocolate would be beneficial for different stakeholders including customers, society, economy as well as the management.
