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Cadbury market reserach exercise part 1/4

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Cadbury market research exercise part 1 of 4

In this market research exercise, I will need to consider what information needs to be discovered, design a questionnaire to discover the required information, produce a data collection sheet to collect the data, carry out research on 20 people, produce a graph to show my results and to write a report.

Information which needs to be considered

The information which I think need to be considered are-

What the productshould be- This is important because without a product, there would be no goods to sell, which would mean that there is no profit to be made. Also, the product should be within the interests of 14 - 16 year olds.

How much should it cost- This is important because the price has to be affordable for 14 - 16 year olds, and would probably be similar to that of other chocolate bars aimed at this age group.

Where they should be sold- This is important because the locations where the chocolates are sold have to be where 14 - 16 years olds may go. The locations should probably be near schools, youth centres and leisure centres. The product should also be sold to supermarket chains as they buy products in large amounts

How they should be promoted- This is important because this informs your target market that there is a new product and if advertised correctly, this can increase sales and therefore profits would increase.

What 14 - 16 year olds want in their chocolate- This is important because if these chocolate bars contain what many children of this age group want, then they are more likely to buy the product as it is something they would like to eat.

What name should the product be given- This is important because customers and consumers are more likely to buy a product with a name they like than they are to buy a similar product with a name they dislike.

Should the product be named under a well known brand- This is important because if they product was named under a well known brand name, for example, Cadbury made a chocolate bar with caramel inside it and named it Dairy Milk Caramel. Dairy Milk was a known brand name which was trusted by the public and the public were more likely to buy this product. If the product isn’t named after a well known brand, then it may still be a successful product and could become a well known brand itself.

How big should the chocolate bar be- The chocolate bar should be a similar size to other chocolate bars which are already being sold. Also, the product should have a similar weight to similar products.

What should the packaging be like- The packaging should be airtight, to protect the chocolate bar and also to prevent it going out of date in a short time. The packaging also has to be attractive and eye-catching, to catch a costumers or consumers attention. The packaging would also have to contain, information about the chocolate, such as its weight, ingredients and its nutritional value.

How many competitors would the chocolate bar have- The competitors need to be researched to find out if they are successful, and if they are successful, how did they become successful. What promotion strategies did they use and which ones were successful or not. From this information, you could use successful strategies which would hopefully increase sales.

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