• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Market Research for a New Company : Fusion

Extracts from this document...

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Microsoft Market Research

    * Focus groups (or group discussions) involve a similar approach but bring together a number of relevant people - typically about eight - and therefore benefit from the interaction between the different personalities and experiences in the group. I used quantitative research because I needed to find information quickly and

  2. Assignment for Consumer Behavior.

    Avoid using subtle color combinations the strongest color contrast is the easiest to see, and that's black and white. Have your place of business well lighted, inside and out, and keep it adequately heated, with background music toned down. Watch out for shiny surfaces, and minimize outside glare as much as possible.

  1. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    in a whole page of adverts * Can appeal to right socio-economic group * Large audience * Suitable Regional newspaper * Cheap * Can contain more information in small type * Smaller audience * Greater cost per reader * Message can only be repeated weekly * Small audience * Not suitable Relevant magazine (in this case car/motoring)

  2. Elite Chocolate

    Primary data plays a key factor in field research. Secondary Data: Secondary data relates to the data/information available and the data which is already been collected before. Secondary data also gets involved in Desk research. Task 3 Launch of a new product In this task I have been asked to investigate the marketing campaign of another product.

  1. Produce a marketing strategy for a new or existing product

    Launching out a completely new magazine again aimed at a new group of readers, as this will be aimed a lot larger age group then one small market this will definitely encourage new readers too. Lowering the prices or in its correct terms skimming the prices this also is an

  2. Types of Market Research

    Customers' opinions can be obtained. 1. If the questions are bad they could mislead the customers thus giving inaccurate results. 2. Takes time and money to collate and analyse the results. Interviews Interviews are face-to-face conversations with customers where the interviewer has a set of prepared questions to ask.

  1. Marketing research - To decide which products and services will be available in my ...

    Price Price is often considered to be the most important thing that a business must consider when marketing its products because if I charge too much for my product then the customer will feel that my product is a "rip off".

  2. Market Research for a new sweet. I asked the question Chocolate do you prefer?, ...

    Having collected and analysed all the results, I will now the use results to produce a product which appeals to my target audience. I asked the question "Chocolate do you prefer?", to detect what type of chocolate the people in my target market prefer; I have used these results and determined that my target audience prefer milk chocolate.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work