Market Research for a New Company : Fusion

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Market Research for a New Company : Fusion

Introduction

Established markets generate intense competition during which new and innovative marketing strategies are required and new and existing products are developed.

As a market develops, consumers become more experienced and discerning and look for more benefits from the products they choose. Although some organisations' products may appear unchanged at this developed stage of a market, the more successful businesses re-work existing brands and continues to develop new ones to meet changing consumer needs.

The development of strong brands has always been a feature of the confectionery market.

Launched in 1996

Fuse is a fusion of delicious snacking ingredients: fudge, raisins, peanuts and crispy cereal smothered in Cadbury's milk chocolate. In fact it is 70% chocolate.

It is aimed at those people whose fast moving lifestyles find them snacking "on the hoof".

It is primarily targeted at 16 - 34, i.e.; those people for whom snacking is a way of life.

The launch ads in 1996 were aimed at the 16 - 34 "X-files" audience and featured a reporter investigating the appearance of a mysterious new bar.

The 1998 TV ads featured the Fuseliers - a purple uniformed platoon who created the explosive Fuse Bar using fudge pieces, raisins, crispy bits, peanuts and tons of Cadbury's chocolate. Tagline, "Don't Blow a Fuse Eat One".

|More than 250 different ingredients including cherries and apricots were tested before the final combination was agreed.
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It took more than 5 years planning to launch the bar and more than £10 million was spent on the launch program.

Market Research

Introduction into Market Research:

Market research is concerned with identifying and anticipating customer requirements.

Business is extremely risky we can never know for certain whether our product will be successful until it is launched and sold on the market. However market research attempts to minimize this risk by finding out as much information about the market as possible, before expensive developing, advertising and launching takes place.

"Market Research" The ...

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