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Market Research for a New Company : Fusion

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Introduction

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. ...read more.

Middle

The information gathered through market research may be described as either qualitative or quantitative in nature. Qualitative information informs the organisation about the opinions and preferences of individuals and cannot always be interpreted statistically. For example, in response to a qualitative interview about chocolate, one person might feel the chocolate is too crunchy and rich, while and might think it tastes good. Qualitative research is therefore about descriptions. This type of information is difficult to categories and measure because it is based upon personal views deemed to be subjective. On the other hand, quantitative information is research that produces figures that can be examined statistically. For example, 15 out of 20 people might prefer one brand to another. As this information is considered to be based upon hard facts, it is considered to be objective. Market Research Market research is a process designed to link managers to consumers through information. It is used to identify opportunities and make better-informed decisions about products, which have future market, potential. Market research has revealed that snacks play more of a functional role than one of pure indulgence: they are often a meal substitute. ...read more.

Conclusion

My results show that on a whole the average person has either not tried a fuse or tried a long time a go. I also found out why they where originally attracted to the fuse bar and also what has repelled them from having another since. The majority of people where attracted by the wrapping and found it very eye catching, how ever they found the actual bar a bit rich and quite hard to finish. On a whole they found the rest of the bar a good idea apart from the fat percentage of the bar which is quite high compared to most chocolate bars. The problem with the main concept of the bar is that it is a fusion of chocolate that holds the rest of the ingredients together, which is why the bar is so fatty and rich. The release of the giant fuse I feel is a huge mistake because of the problems stated above. I also found out the 3 overall favorite chocolate bars from the public I asked and nobody said fuse or even the king of Cadburys the dairy milk. If the fuse's wrapper were not as eye pealing this bar would have gone nowhere. ...read more.

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