[FONT='Arial','sans-serif']Executive Summary: [/FONT]
[FONT='Arial','sans-serif']The following report showcases how Cadbury could successfully address the issues related to Boost Guarana and launch it in the Singapore market. The Introduction and the Current situation talks about the present state and concern of Cadbury.[/FONT]
[FONT='Arial','sans-serif']The Opportunities and threat further gives an analysis of how these concerns could be interpreted citing the right objective that need to be in place and how Cadbury would go achieving these objectives. The successful launching of Boost Guarana in Singapore would depend on these accomplishing these objectives. Then the report talks of the current strategy and Future strategy that could be in place once these objectives are achieved. Thus to achieve the current strategy of Market penetration and Product development, the objectives which basically addresses the issues of challenges faced by Cadbury has to be achieved.[/FONT]
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[FONT='Arial','sans-serif']Introduction:[/FONT]
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[FONT='Arial','sans-serif']Cadbury is the market leader for chocolates in Singapore. It has built a reputation that is unmatched by other brands and is seen as a trusted and reputed brand in this segment. The sales however in this segment are not showing growth and there appears a need for Cadbury to provide its consumers with a new offering. This would not only help reinforce Cadbury’s image as a market leader but also revitalize Singapore’s chocolate market. [/FONT]
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[FONT='Arial','sans-serif']Current Situation[/FONT][FONT='Arial','sans-serif']:[/FONT]
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[FONT='Arial','sans-serif']Cadbury in order to revitalize the Singapore chocolate segment has a new offering. It is the[/FONT][FONT='Arial','sans-serif'] first chocolate bar to stimulate the brain. [/FONT][FONT='Arial','sans-serif']Boost Guarana, will be the first ever mind enhancing chocolate bar, its made with a South American plant extract which stimulates the brain like Caffine. Research appears to back up claims that the product delivers ‘mental energy’ but already it is linked with controversy as concerns have been raised about its unsuitability for children under 15, pregnant women, or people sensitive to caffeine. The analysis of Opportunities and threats for the current situation is as follows, which would give us a fair idea on the steps that Cadbury would have to take in order to counter the current negative controversy linked to Boost Guarana and successfully launching it in the Singapore market.[/FONT]
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[FONT='Arial','sans-serif']Opportunities:[/FONT]
· [FONT='Arial','sans-serif']Additional source of earning revenue besides regular chocolate[/FONT]
· [FONT='Arial','sans-serif']Strong substitute for products that contain caffeine like coffee and red bull.[/FONT]
· [FONT='Arial','sans-serif']Health chocolate brand [/FONT]
· [FONT='Arial','sans-serif']Wider target segment from kids to elderly people and health conscious people.[/FONT]
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[FONT='Arial','sans-serif']Threats:[/FONT]
· [FONT='Arial','sans-serif']Adverse effect on people health can affect spoil Cadbury’s brand image. [/FONT]
· [FONT='Arial','sans-serif']Controversy linked to the product may stop users like kids or health conscious people from trying it thus affecting sales. This will result in sales of other products of Cadbury.[/FONT]
· [FONT='Arial','sans-serif']It could affect sales of other established Cadbury products in the market.[/FONT]
· [FONT='Arial','sans-serif']Government and other health bodies could accuse Cadbury of corrupt business practices. [/FONT]
· [FONT='Arial','sans-serif']Financial risk of investment made in developing and launching the product. Product failure. Negative customer response.[/FONT]
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[FONT='Arial','sans-serif']Objective for Cadbury:[/FONT]
[FONT='Arial','sans-serif']1) [/FONT][FONT='Arial','sans-serif']Figure the right time for entry in the Singapore market.[/FONT]
[FONT='Arial','sans-serif']2) [/FONT][FONT='Arial','sans-serif']Adaptation or Standardization [/FONT]
[FONT='Arial','sans-serif']3) [/FONT][FONT='Arial','sans-serif']Positioning Boost Guarana as a Unique Healthy chocolate for all age group.[/FONT]
[FONT='Arial','sans-serif']4) [/FONT][FONT='Arial','sans-serif']Selection of the right media of communication through proper channels to counter the negative aspects linked with Boost Guarana[/FONT]
[FONT='Arial','sans-serif']5) [/FONT][FONT='Arial','sans-serif']Increasing sales and revitalizing the Singapore chocolate market.[/FONT]
[FONT='Arial','sans-serif']6) [/FONT][FONT='Arial','sans-serif']Making Guarana Chocolate a strong substitute for other Caffeine products and energy bars and drinks in the market.[/FONT]
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[FONT='Arial','sans-serif']Steps to be taken for achieving the above objective.[/FONT]
[FONT='Arial','sans-serif']1) [/FONT][FONT='Arial','sans-serif']Time of Entry – [/FONT][FONT='Arial','sans-serif']The time of entry into the Singapore market should depend on 2 main factors. [/FONT]
[FONT='Arial','sans-serif']a) [/FONT][FONT='Arial','sans-serif']Product research and evidence[/FONT][FONT='Arial','sans-serif'] – [/FONT][FONT='Arial','sans-serif']Before entering into the Singapore market there should be enough research and evidence to prove that the product is not harmful to its potential consumers. This will help in future communication efforts as well to build consumer confidence in the product.[/FONT]
[FONT='Arial','sans-serif']b) [/FONT][FONT='Arial','sans-serif']Controversy – [/FONT][FONT='Arial','sans-serif']As the fact of Guarana is harmful is linked with controversy but not evidence, about the fact that it is harmful for children under 15 years of age and pregnant women etc, this aspect should be addressed before entering the market. The ideal time of entry would be when there is no controversy attached to it or it has been addressed properly.[/FONT]
[FONT='Arial','sans-serif']c) [/FONT][FONT='Arial','sans-serif']Market trend[/FONT][FONT='Arial','sans-serif'] – The entry time should e in sync with good consumer sentiment and mood, example during a festive season or a big sport event say the first ever night formula one race in Singapore.[/FONT]
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[FONT='Arial','sans-serif']2) [/FONT][FONT='Arial','sans-serif']Product Adaptation – [/FONT]
[FONT='Arial','sans-serif']a) [/FONT][FONT='Arial','sans-serif']Product taste - The product should be adapted to suit the Singapore taste and preferences. There should be the right kind of ingredients that would be appreciated by the locals.[/FONT]
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[FONT='Arial','sans-serif']b) [/FONT][FONT='Arial','sans-serif']Product Packaging - The product packaging should have enough information regarding the product and if possible affiliations and certifications from various health bodies, which communicate the safety and positive aspects of the product. The packaging can also be done in a user friendly and eco friendly manner.[/FONT]
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[FONT='Arial','sans-serif']c) [/FONT][FONT='Arial','sans-serif']Product Variants – Boost Guarana can also have variants like sugar free to appeal old age or sweet Guarana to appeal to younger kids and thus can have slightly different products for different target market in the chocolate segments.[/FONT]
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[FONT='Arial','sans-serif']d) [/FONT][FONT='Arial','sans-serif']Product pricing. This can be done by competing or even lowering price of boost guarana bar as compared with other energy bars and drinks. [/FONT]
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[FONT='Arial','sans-serif']3) [/FONT][FONT='Arial','sans-serif']Positioning[/FONT][FONT='Arial','sans-serif'] – The positioning should be in such a manner that the product appeals to all age group. The product benefit for all age group should be clear in its positioning and its health benefit along with the taste of Cadbury should make it a good temptation in the minds of the consumers. The consumer should value the product for its unique features of good taste and health benefits those other chocolate products in the market lack.[/FONT]
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[FONT='Arial','sans-serif']4) [/FONT][FONT='Arial','sans-serif']Communication and Promotion Strategy – [/FONT][FONT='Arial','sans-serif']The communication should achieve the following objectives.[/FONT]
[FONT='Arial','sans-serif']a) [/FONT][FONT='Arial','sans-serif']Establish Boost Guarana as a Unique Health Chocolate [/FONT]
[FONT='Arial','sans-serif']b) [/FONT][FONT='Arial','sans-serif']Create Brand awareness[/FONT]
[FONT='Arial','sans-serif']c) [/FONT][FONT='Arial','sans-serif']Increase product Trails[/FONT]
[FONT='Arial','sans-serif']Advertising:[/FONT]
[FONT='Arial','sans-serif']Above the Line: [/FONT][FONT='Arial','sans-serif']Cadbury should have a communication campaign with Television and Print media giving information about the product and showcasing its health benefit.[/FONT]
[FONT='Arial','sans-serif']Below the Line:[/FONT][FONT='Arial','sans-serif'] There should be promotions and a Health chocolate event to let consumers try Boost Guarana. This will help the consumers to experience the product and build confidence. [/FONT]
[FONT='Arial','sans-serif']Backing of health conscious people – this can be done by promoting boost guarana in fitness centers, gym and even hospitals. Especially people recovering in hospital can have boost guarana as an energy supplement.[/FONT]
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[FONT='Arial','sans-serif']Sales and Product Promotion:[/FONT][FONT='Arial','sans-serif'][/FONT][FONT='Arial','sans-serif']Cadbury should undertake sales promotion with its related brands and offer discounts in the initial phase so that more and more people experience the brand. Cadbury should tie up with other energy related events for promotion and even Sponsor school debates and events like Cadbury Quiz contest etc for product promotions.[/FONT]
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[FONT='Arial','sans-serif']Current Strategy: [/FONT]
[FONT='Arial','sans-serif']Cadbury Should adopt the following strategy to the development of Boost Guarana.[/FONT]
[FONT='Arial','sans-serif']a) [/FONT][FONT='Arial','sans-serif']Market Penetration – Boost Guarana should be widely available and should be priced in an manner that the masses could experience the product so as to realize its uniqueness in terms of a good health chocolate product.[/FONT]
[FONT='Arial','sans-serif']b) [/FONT][FONT='Arial','sans-serif']Product development – Cadbury can further do product development by appealing to different segments like the younger kids, older people etc. By bringing in small product variations.[/FONT]
[FONT='Arial','sans-serif']Future Strategy:[/FONT]
[FONT='Arial','sans-serif']c) [/FONT][FONT='Arial','sans-serif']Market development – Once established in one market example Singapore it should further target other Southeast Asian countries.[/FONT]
[FONT='Arial','sans-serif']d) [/FONT][FONT='Arial','sans-serif']Market Diversification – Guarana can further used into Cadbury chocolate drinks bringing about the first drinks and energy ice creams. [/FONT]
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[FONT='Arial','sans-serif']Conclusion:[/FONT][FONT='Arial','sans-serif'][/FONT]
[FONT='Arial','sans-serif']Boost Guarana with a correct communication and pricing strategy as per the current strategy shown above will help penetrate into the Singapore market. The communication and product trails would help clear doubts in the minds of the consumers. Once this has been achieved the future strategy can be taken up of entering other south East Asian countries. Thus once Boost Guarana is an established brand in Singapore it can be further taken into other markets. Thus the first step would be to clear all misconceptions about Boost Guarana through a proper communication campaign and achieving growth in the Singapore markets.[/FONT]
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