1. Discuss the key challenges and marketing issues Andrea Torres must address at this time. Why do you feel these issues and challenges are key to the success of the new product line? (1) Although the research tell us the 70% cocoa dark chocolate with fruit with healthy messaging and new stand-up pouch concept would be most attractive to the customers, and also built a sales forecast with it. But the company still do not know the real market reactions. So it should be better do a marketing test. (2) the Apollo should be better to keep its original brand, Montreaux Chocolate, it can provide additional intangible asset once the customers in USA become familiar with it. (3) And also, Apollo had not collect enough information for the whole product lines, so launch immediately was not proper.
2. Evaluate the achievability of the company objectives for Montreaux USA. Identify the most salient aspects of the chocolate confectionery industry, globally and domestically, that bear on a new product introductiom. Provide support for your conclusions. The annual compound growth rate is 2.8% between 2007 and 2011 in the US, for the segment of chocolate, total revenue was $17.664 billion. For the Company Apollo itself, $54.4 billion and net income of $3.5 billion were generated in 2011. Besides, more than 80 brands exceed $100 million annually, some of which even exceeded the $1 billion every year. Although the research in consumer attitudes, usages, motivations, and health benefits had provided much useful information for the product design, it was still not enough to cover the total 4 lucrative segments. Another research with each segments covered should be done thereafter to have a better understanding how profitable for each group of customers.(citing from Textbook, Chapter 4: Creating Long-term Loyalty Relationships/ Customer Profitability, pp.38-39 )
The Essay on Why Is a Product/Customer Focus an Important Characteristic for Successful Entrepreneurs
A product/customer focus is a pivotal characteristic that entrepreneurs must have in order for the entrepreneur themselves and their business to be successful. With that said, an entrepreneur with a product/customer focus is one that clearly understands the needs and wants of their customers and thereby producing and developing products that enhance people’s lives, but also products that meet and ...
3. After analyzing consumer attitudes, usage, motivations, and benefits of chocolate products to consumers, how viable are the recommended new product concepts? Should others be explored? Please explain. Consumer’s Attitude: The Research predicts until 2020 the demand for cocoa would increase by 30% outstripping the supply, leading to higher prices of the chocolate, especially the Dark chocolate, consumer interest in chocolate as part of the larger food culture will continue.
In the US,customers are attracted towards the Dark chocolate over the age-old favourite Milk chocolate.Dark chocolate’s share of the U.S. market for chocolate bars will approach 20% this year, from just over 18% in 2008. The recommended new product concepts of Montreaux USA target audience were: The Montreaux concept of coming up with mini bars were also favourable and viable. Educated college youngsters who conscious about health and fitness and lastly consumers having household income of $50000 and aged 45-65. 4. Using the forecast model for the healthy dark chocolate product with fruit tested in the BASES II test in August 2012, what is your forecast of the demand for the chocolate product?
5. Evaluate the effectiveness and efficiency of the new product development process to this point. What, if anything, would you change? Develop a comparative assessment of the research alternatives under consideration. Which one or which combination of research techniques would you recommend? Please explain. SWOT Analysis：
Benefits
Risks
Internal
Strength
Weakness
1. Apollo strong marketing ability.
2. Original brand equity.
1. Apollo do not have a high budget and experience on chocolate market.
The Research paper on Conducting Useful Market Research
Market research is the cost effective collection and analysis of information about the customer and market to support better business decisions. The key to market research is obtaining useful information, both perceptual and factual. It's important to know what the customer knows, (awareness and familiarity), what the customer thinks and values (opinions and beliefs), what the customer feels ( ...
2. Unacceptable brand in this market
External
Opportunities
Threats
1.New market to explore
2.The health benefits of dark chocolate
1. A new product from competitor were preparing the introduction 2. Nation wide Acceptance of the dark chocolate
