Energy Mint Analysis

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A. QUESTIONNARIE ANALYSIS AND CONCLUSIONS

Continuing the desk research submitted in the Business Environment, it is critical to break in the real customer base and evaluate the perceptions of customers towards “a quicker, more effective than and as tasty as energy drinks” product that we are going to offer. The questions have been asked to identify the awareness of energy mints in the Southeast region. We have surveyed in total 360 people in a various range of interests: from teenagers, students, physical workers, official workers to housewives. A range of ages has been interviewed from less than 16 to the ages of retirement to ensure the diversity of the research as well as to grab the whole potentiality. As the limitations of transportations, the data has been collected in Surrey county and the Greater London as its initial aim. The results have been inputted and sorted. The conclusions are drawn soon following the favors of the pre-determining desk research results.

I. Energy mints and Southeast of England.

2.1. How do potential customers regard a new trend of product?
It has been shown clearly in the desk research the fact of a domination energy drink brands hold in the target market. Following the failure of American-based Revive energy mints in 2011, HERO mints, the unique domestic energy mint producer currently shares a humble piece of the pie along with the imported counter-products. The possibility of an intervention remains as our survey’s objectives, suggesting whether it would be a niche in the customers’ awareness and acceptance for this new brand. 92% of respondents have claimed no information of energy mints before the questionnaire starts. The mere 8% saying “have heard of” points out a poor education our domestic competitor has performed. It, hence, requires a more boisterous marketing campaign to obtain the popularity on the track. The details could be discussed in depth later on.

Chart 1.1: The recognition of energy mints in Southeast region.

2.2. The acceptance and the target market.

The shallow recognition of energy mints could possibly be a threat to the introduction of a new product, except the huge interest of the potential customer bases. For those who have acknowledged of energy mints, a massive percentage of 75.86% have been attracted by energy mints. A less lucrative proportion of interest appears when it comes to the un-informing part of the market, 60.73% of those who have not heard of energy mints would be interested in. Statistically saying, the interest of customers imposes a possible market to our products. Despite several foreseen skepticisms and unsupportive claims over energy mints, the data has proposed a certain acceptance from our surveyed market. Along with the strengths and advantages depicted previously in the desk research, it is confident to say there is a market for energy mints.

Chart 1.2 Interest in energy mints. Will it be a gap for a new breaking in? The data shows among 23 respondents who have heard of energy mints and claim an interest, only 19 have had chances to consume real packages of mints. More interestingly, 15 out of 19 have chosen our domestic rival, HERO. This reveals a potential demand among the market that HERO has not filled up sufficiently. Statistical analysis suggests approximately 40% of energy mints market to be gained in this ever-growing energy product market. Another potential market could be extracted from energy drinks’ loyalists. More than 60% of those would accept energy mints as an additional consumption to their preferred brands. It certainly raises the possibility of future purchase from those who have been long stick with any traditional energy boost, in turn, expanding the market space we could involve.

Undeniably, the results above have supported our initial business plan of launching a new brand...
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