SUBMISSION DATE: 20TH APRIL 2013
BSC MANAGEMENT MINOR BUSINESS INFORMATICS
AUHAMMUD HAASHIMI 1213233 HEERAMAN NABEEL 1215135
LORI NANDKHESWAR 1217297 SKHEERAH RUKSAAR 1219265
FOOLAH AMEERAH 1213250 LALLMOMADE UZAIR 1242802
NOORADEEN ASHREENA 1200007 SALAUROO NASEER 1218554
Our team has chosen to do the assignment on the CHOCOLATE product. The name of our product is CHOCOYUM. Fictiously, before we introduce a new product on the market we need to go through the process of market research this will allow the company to know the perception of consumers about the product. Hence after conducting a survey we decided to launch the chocolate product but before we need to go through some steps so as to have the final product and be marketed. These steps consist of: * Choosing a brand and logo
* The packaging and labeling process
* Marketing the product
* The marketing strategy to be considered
Which brand name you would give your product?
A crucial element of any business is the creation of a brand name by which people could identify the product easily and it last for a longer time. That is why it’s necessary to be cautious and come up with perfect brand name along with the visual logo so as to be successful. Some important question to ask before choosing a brand name: Emotional Bonding Power - When naming a brand, are you connecting with your target market? Are you measuring the name's emotional bonding power? Memorability - Brand name research shows Memorability is the true litmus test of exceptional names. Can your target market recall the new name after seeing it just once? Latent Association - What negative and positive associations exist with your new brand name? What barriers have to be overcome with negative latent associations? How does sound symbolism or phonosemantics (the meaning of sounds) affect the evaluation of a name's latent association? Fit to Concept - Which brand name candidate best positions product? Pronouncability - Brand name research reveals what should be common sense: If your target market can't pronounce the brand name, they won't ask for it. Sound Symbolism - Does the product name sound right to your target customers?
Simplicity is beauty. The easier it is the brand name to be pronounced, the better it can be spread through word of mouth. Similarly, the fewer the number of words for the brand, it can be easily captured in mind of customers. Hence, our brand name is “ADDICTION” which means whenever you have a bite you get addicted and wants more.
OUR logo & brand name
Putting simplicity aside, making the brand name too descriptive and straightforward may kill the curiosity that is needed to sustain the interest. Moreover, the brand should be memorable so as to create a buzz and generate an interest in what is it and what the business provides. ADDICTION
What kind of packaging and labeling you would give to your product? Packaging and labeling do more than protect and identify your company’s products. They play a vital role in developing your image and brand within your target market. Failing to pay attention to the design of your packaging and labeling can decrease the visibility and attractiveness of your products, which can be devastating for sales. For our product CHOCOYUM the packaging is broken into three stages: 1ST STAGE
The chocoyum will be 3 by 6 bars of chocolate which will be produce at first among other designs. 2ND STAGE
The bar of chocolate will be wrapped in an aluminum silver foil which will provide a barrier for light, moisture, and other gases to prevent spoilage of the CHOCOYUM. 3RD...
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