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Chocolate Bar Invention and Analysis

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Introduction

Design of a Chocolate Bar Aims: The main aims of a business are: * To make profit * To get bigger shares * To be eco-friendly * To SURVIVE! Objectives give the business a clearly defined target. Plans can then be made to achieve these targets. This can motivate the employees. It also enables the business to measure the progress towards to its stated aims. Business usually follow S.M.A.R.T this stand for S=Specific M=Measurable A=Achievable R=Realistic T=Time S - Specific - objectives are aimed at what the business does. M - Measurable - the business can put a value to the objective, e.g. �10,000 in sales in the next half year of trading. A - Agreed by all those concerned in trying to achieve the objective. R - Realistic - the objective should be challenging, but it should also be able to be achieved by the resources available. T- Time specific - they have a time limit of when the objective should be achieved, e.g. by the end of the year. Introduction As part of my GCSE coursework I have been employed as the new marketing consultant of "Tiger Chocolate". I have been asked to create and design a new chocolate bar for a company. I will have to find out primary and secondary research. To start of I will have to look of the need of the customers. ...read more.

Middle

The term is also used when consumers with identical product and/or service needs are divided up into groups so they can be charged different amounts. These can broadly be viewed as 'positive' and 'negative' applications of the same idea, splitting up the market into smaller groups. Desk and Field Research Desk Research (sometimes known as secondary research) involves gathering data that already exists either from internal sources of the client, publications of governmental and non-governmental institutions, free access data on the internet, in professional newspapers and magazines, in annual reports of companies and commercial databases to name but a few. In many projects, carrying out an initial desk research stage is strongly recommended to gain background knowledge to a subject as well as providing useful leads that will help to get the maximum from a research budget. Desk research is where you look for information without moving your feet. This is the use of existing data that has already been collected. It can be anything from a company's own sales statistics to Department of Trade and Industry reports Has the advantage of being cheaper and quicker than field research. The disadvantages are not knowing if the findings are accurate, or how relevant they will be to your product. Field Research is activities aimed at collecting primary (original or otherwise unavailable) data rather relying on published material. In marketing, it involves face-to-face interviewing, telephone and postal surveys, and direct observation. ...read more.

Conclusion

Why Marketing is Important? Marketing is important in building customer relationships as well as creating product awareness. Without an effective marketing strategy you stand to not gain customers or lose customers which equates to revenue loss and no growth. Attraction Marketing can help you build your business faster and with more stability in ANY PROGRAM. Attraction marketing is promoting a product or service in such a way that causes potential customers or prospects to want to hear about what you have to offer. In direct sales, it typically refers to promoting yourself as an expert, offering information that a prospect wants, and builds the basis of a real relationship with that prospect. This strategy of drawing highly targeted, highly motivated prospects into your sphere of influence. Highly qualified prospects are the life blood of any network marketing business. It provides valuable information to your customers. The more helpful and valuable your information is the greater the chance those customers will purchase from you. http://ezinearticles.com/?Why-Marketing-Is-Important-To-Your-Business&id=1167409 Sampling Random Sampling � The process of selecting a group of people at random. Everyone should have an equal chance of chosen to answer. Quota Sampling � A quota of people will be selected from a variety of market segments. I.e. 20 males & 20 females. Often used as it is easy to carry out. Stratified Sampling � When people are spilt in to market segments then selected randomly. � Not just the first 20 people but 20 people randomly selected from a target group ...read more.

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