The company that I have chosen for the basis for my report is Mars Incorporated. They have been placed the 5th largest privately held company in the United States and had a $30 billion annual sales in 2010. The majority of people think of chocolate when they hear of Mars; however their confectionary products are not the only thing they focus on. They cater for six business segments:- • Petcare
They are a privately owned company with more than 65,000 Associates who are committed to delivering the best quality in the segments above. Out of the six segments I will be focusing on one ‘Chocolate’. Mars have 4 billion dollar global brands which includes ‘M&Ms’; ‘Snickers’ and also ‘Milky Way’.
Chocolate confectionery is very much a part of everyday life in the United Kingdom. The UK is the largest chocolate consumer in the world with an annual average per capita consumption of 11.5 kg followed by Liechtenstein with 10.9 kg.
The reason why I have chosen this company is because they have a strong background when it comes to chocolate and three of their products ‘Galaxy, Mars Bar and also Bounty’ have been listed in the Top Ten Chocolate bar of all time. One of the products that Mars Incorporated that interest me is ‘Galaxy’ which is extremely popular in the United Kingdom; Middle East and in Africa.
Galaxy is also known as Dove in many parts of the world such as United States; Germany; Malaysia and Greece. Nevertheless, the chocolate used in Dove products is a different taste from the chocolate used in Galaxy. Galaxy has 11 different products such as Galaxy Ripple; Galaxy Cookie Crumble; Galaxy Counters.
As we know Galaxy has many different spin offs, which gave me an idea for a new product. “Galaxy Smooth White”. Galaxy believes that the indulgence about chocolate is about the whole experience. It has a luxury yet sensual feel towards it. The majority of white chocolate products is mainly aim at the children market, providing products such Milky Way and Kinder Bueno. There are a few white chocolate products for adults however are on the upper scale such as Divine; Fair-trade and Green & Blacks.
When looking into the needs and wants of a ‘Galaxy’ chocolate, customers still want that luxury feel when they take that first bite. (Galaxy calls it ‘Love at first bite’). Customers want a warm feeling inside and for that moment, they don’t want to worry about how many calories they are going to add. Galaxy Smooth white delivers exactly this and more. It provides adults with a white chocolate that is not deemed to be immature or just any chocolate that you would have daily in your lunch box. This chocolate is for lovers of white chocolate or chocolate in general; who enjoy indulging themselves with an experience that allows them to be in their own world where everything is perfect for that moment.
70% of the whole UK confectionery market is accounted for by chocolate, with annual sales of £3.75bn. White chocolate only accounts for just 1 to 2% of UK chocolate consumption (milk chocolate accounts for 92%). Tony Bilsborough, Head of UK Media Relations (Cadbury) believes that there is a massive growth potential with white chocolate. "We've seen the figures and our competitors have, too," he says. "I think you could say that white is the new brown."
According to market research it has shown that white chocolate is famous among the female segment of the United Kingdom population. Women in return have rewarded Galaxy with sales figures that have totalled companies such as Ferrero, Green and Black's, and Lindt combined. (According to UNS Worldpanel data.) Galaxy’s target market is women between the ages of 25 and 45 however for Galaxy smooth White, I would want to lower the age to 21, as I believe in this generation, women from the age of 21 are deemed to be more mature than they were 10 years ago as they are more independent and becoming...
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