Chocolate Branding
2011 was a lucrative year for the chocolate industry, where sales reached almost $20 billion. However, the market is saturated with competition, giving consumers an abundance of options in regard to how they want to satisfy their needs for the product. In order to gain a competitive advantage, marketers must position their products carefully.
Though chocolate sales are cyclical in nature, generally being most profitable around holidays (Halloween, Valentines, Easter), marketers must strive to gain favorable market share on a year round basis. To do so, careful attention must be paid to consumer preferences.
The following study focuses on those consumer preferences and attempts to give insight into potential positioning strategies that can be used by marketers. To do so, both qualitative and quantitative analysis was conducted and analyzed. The methodology for this research is presented below, followed by the findings of the research and what actions can be taken to lead to positive positioning in this competitive industry.
Research
The first step used by the research team was to decide on a brand population sample to focus on. For this, the team chose 8 of the top selling brands in the industry, which were:
Snickers
Milky Way
Kit Kat
Butterfinger
Ghirardelli
Lindt
In order to discover customer preference, a focus group was held. The focus group consisted of 8 randomly selected individuals, ages ranging from 22 to 35. Participants were asked questions to determine their preferences on chocolate and its marketing. After the initial series of questions were asked, participants were