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To keep customers loyal to the business Cadbury introduce new products to the market as this helps

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Introduction

C6: An understanding of the importance of New product development to An organisation. To keep customers loyal to the business Cadbury introduce new products to the market as this helps, to increase both competition and keep customers interested in Cadbury products. However finding a product that will be successful in the market is time consuming and a lot of hard work, and it is a big risk for not just Cadbury but any business launching a brand new product to the customers. The reasons for why Cadbury decide to develop a new product could be for the following reasons: ? Changes in the customer's lifestyles: ? This could mean that customers need a product with more ingredients in such as berries or nuts. ...read more.

Middle

Recently (20th September 2004) Cadbury have launched a new product called "Snaps" this is obviously a chocolate product shaped like a crisp (curves) with crispy cereal pieces in there that make the product crunchy. Snaps come in three different flavours: Milk chocolate, Hazelnut, and orange snaps comes in a pack of 40 curves, which makes them ideal for sharing. Below is a picture of what a snap looks like. Snaps product life cycle I am now going to try to identify the product life cycle stage of Cadburys snaps, I think that Cadburys snaps is in between two stages: the second stage of its product life cycle, this stage is known as the growth and development stage and the third stage which is known as the maturity and competition stage. ...read more.

Conclusion

If customers like the product and it is popular and in high demand in the market within the next few weeks Snaps will become a star product, this is when the product has a high market share in a fast growing industry. However if unfortunately customers decide that the product doesn't taste good to them then the product will become a question mark or a dog product both of these types of products have a low share in the market in a quick expanding market, if the product is a question mark there may be a hope for the product to go back in the market and be a success with the correct research and marketing strategies being done. But if snaps become a dog product then it may have to be withdrawn from the market, as it would be causing Cadbury not to make any profits. ...read more.

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