Proposed Research Program and Proposed Marketing Strategy for the new Cadbury Product - Free Essay Example

Sample details Pages: 6 Words: 1742 Downloads: 6 Date added: 2017/06/26 Category Marketing Essay Type Research paper Level High school Did you like this example? Proposed Research Program and Proposed Marketing Strategy for the new Cadbury Product. 1.0 Proposed Research Proposal. 1.1 Research Problem and Research Objective. Its research problem is to address the worry of Cadbury on the controversial issue that has caused consumers particularly the Muslims to lose trust in Cadbury products. Its research objective is to identify the consumerà ¢Ã¢â€š ¬Ã¢â€ž ¢s attitudes and opinions of the Cadburyà ¢Ã¢â€š ¬Ã¢â€ž ¢s brand after the controversial issue. 1.2 Research Design This is a descriptive research, consists of quantitative and primary research. Don’t waste time! Our writers will create an original "Proposed Research Program and Proposed Marketing Strategy for the new Cadbury Product" essay for you Create order Survey will be conducted using thequestionnaire as their data collection tool. The type of questions used are open-ended questions. Example of questions will be: 1. Do you still trusted in Cadbury? YesNo 2. Do you still take Cadbury as one of your favourite chocolate? YesNo 3. Do you think Cadbury qualified to be certified with halal certificate? YesNo Do you ask your friends/family to take Cadbury? YesNo 1.3 Sampling Decision Sampling Unit The sampling unit will be Muslims, ages of 18 and above, which consists of both male and female gender. The samples will be selected on three different areas, which are Pahang, Kelantan and Terengganu. The reason why these areas are selected are due to high population of Muslims are staying there. (Department of Statistics, 2014) Sampling Size A sampling size of 125 is selected according to a research of attitudes toward depression among a sample of Muslim adolescents. (Haroun, 2011) Sampling Procedure Non-probability technique is selected as the sampling strategy. It will be conducted through convenience sampling by distributing questionnaires in public areas such as shopping malls and parks. A set of questionnaire will be distributed to the public based on convenience sampling technique. The samples that are selected are convenience and easily to be accessed. Since the objective of convenience sampling is easy to be a ccessed, the questionnaires will be distributed at the main entrance of the mall and car-park of the park. This will be easier by inviting Muslims that pass by to take part in the research. A total of 125 sets of questionnaires will be collected from the samples. (Fairfax County Department of Neighborhood and Community Services, 2012) 1.4 Scheduling and Budget ( convert to Gantt Chart) Completion Date/Task 1-Jun-15 10-Jun-15 20-Jun-15 10-Jul-15 25-Aug-15 1-Sep-15 Agreement of project direction, objectives and individual tasks/ inputs. Finalize and test questionnaire Administration of survey Data entry and analysis Report preparation Report submission The scheduling table consists of task that have to be done as well as the completion date. It takes three months to complete the research. The longest task will be data entry and analysis as all of the questionnaire have to be compiled and the information given will be inserted into the SPSS software for analysis purposes. Inserting the information one by one actually every time consuming. Activity Cost Budget (RM) Literature review Research assistant: [email  protected]/* *//hour 1200 Transportation cost RM300*3 900 Questionnaire development [email  protected]/* */ 1750 Data entry 40hours*RM30/hour 1200 Data analysis 40hours*RM30/hour 1200 Report preparation 8hour*RM70/hour 560 Total 6810 The budget shows the detail of price for activities that carry out throughout the research. The highest cost activity will be the questionnaire development process, which cost RM1750, which entitled 25% out of the total cost. 1.5 Data Analysis This research will use SPSS( refer to appendix 1) as the data analysis method. SPSS provide statistical analysis and reports, which help to read and analyse data from questionnaires. (John, 2014). It included regression analysis, correlation and analysis of variance that will explain about the relationship between controversial issue and the trust Muslim have in Cadbury products. 1.6 Controlling Method When the questionnaire is done, a pre-test program will be conducted to identify and eliminate the potential error and thus enhance the accuracy of the questionnaire. 2.0 Proposed Marketing Strategy for the new Cadbury product. 2.1 Background of a proposed product Movie nowadays are very demanding. All of the cinema only al lowed food that are sold at their snack counter to bring into cinema. Most of the time, customers want to buy some snacks to fill them up, but most of the bars only sell nuggets and popcorn, which is not what they wanted. At the same time, the prices of soft drinks and popcorns are too high, although their actual prices are relatively low. (Roger, 2011) So, Cadbury come out with a new chocolate products, Stretchy, which can satisfied the customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ needs, at the same time it can act as a complementary products of the movie. Stretchy is designed based on the latest movie, for example Stretchy comes in all types of minions design when the releasing of the Minions 3 movie. Other than that, the Stretchy is at an economical price, which is affordable for all of the consumers. 2.2 Target market profile (modify) The target market consists of everyone in all income level, especially those age groups of 5 years old and above. Its because the price of Stretchy is econom ical, so everyone are able to make the purchase. Stretchy specially targeted to children as it comes in different movie shapes, which will attract their attention. Customers can keep the chocolate as the complementary souvenir/ gift for a particular movie as well as the movie goers. 2.3 The positioning strategy Cadbury choose to position Stretchy at low price but made according to movie. The customers that are in all level of income are able to purchase Stretchy. It can act as the complementary products of a particular movie, instead of the key chain which is commonly used by others brands as their complementary products. The different between Stretchy and other Cadbury products is that Stretchy provide extra value and function to its customers, either as a chocolate, or as a complementary products, which is their unique selling proposition. 2.4 The marketing mix 2.4.1 Product Content and Ingredients The product contains high percentage of milk chocolate, toget her with some butter. The ingredients will be full cream milk, sugar, cocoa butter, cocoa mass, emulsifiers (Soy Lecithin, 476), and some flavours.(Cadbury Company, 2015) Brand name and Brand mark Its named stretchy as it was designed accordingly to the latest movie. The brand mark in this product is strong as it was designed specially for the new releasing movie. For example, customers are able to get the sport car shape of chocolates when the Fast and Furious 7 movie is released. Whenever there are new releasing of movie, the first thing that comes to customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ mind are; Stretchy will be available in new design soon. Packaging and labelling The chocolate is packaged in aluminium foil, accordingly to its own shape and size. The front part of the chocolate will be label with the movie name it was attached to and its own name, Stretchy, together with the halal certificate. Besides, it will also show the expired date. The back part of the chocolate will b e label with the quantity information as well as some reminder to keep them below room temperature.() 2.4.2 Price Price Determination As Cadbury choose to position its products at low price and design accordingly to movie, price is sensitive in this case. The price of Stretchy will be lower than most of the products sold at cinema snack counter, as well as lower than its main competitor, which is Mars chocolate. Cadbury is using cost-plus pricing practise, by using bese-cost figure per unit, and mark-up to cover the unassigned cost and to make profit. This practise will allow business with low cost to set prices lower than their competitors, but still profitable. Price Strategies Stretchy is using economy pricing strategy, while the cost of marketing and manufacture are kept at the minimum level. In fact, stretchy donà ¢Ã¢â€š ¬Ã¢â€ž ¢t need much advertising as cinema is a very demanding industry and there are always people to make their purchase at cinema snack count er. Most of the time, when customers see an odd-price, they will think that product is low-priced even though a $0.99 price ending may not be related to product being low-priced. (Schindler, 1996).Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s the psychological ways of pricing. Suggested retail price After considering the price of ingredients as well as the competitor products, Stretchy will be priced at RM1.99. The price of Stretchy is relatively low compared to its competitor, which priced RM3.00 and above, and ità ¢Ã¢â€š ¬Ã¢â€ž ¢s priced with an ending of RM0.99, which may confuse customers to assume Stretchy is low-priced. 2.4.3 Place Cadbury will be using indirect sales strategy by selling their products at the snack counter. Cadbury will collaborate with Golden Screen Cinema(GSC), which have a total of 32 cinemas in Malaysia. (Golden Screen Cinema, 2014) Besides, by implementing intensive distribution strategy, Stretchy will be available in a number of stores, for example, Toyà ¢Ã¢â€š ¬Ã ¢â€ž ¢Rà ¢Ã¢â€š ¬Ã¢â€ž ¢Us, shopping malls, snacks and sweet stores and some fast food stores. By selling at many locations, Cadbury actually manage to create products awareness and customers will started to associate with commercials and print ads with products regularly seen in stores. 2.4.4 Promotion One of the promotion that Cadbury will carry out is through advertising. Cadbury can display their new product, Stretchy at the electronic board of GSC to inform the customers about the latest Stretchy design. Besides, by implementing sales promotion of putting Stretchy into GSC combo set, this will actually raise the demand of the customers because customer get the chance to get a cheaper Stretchy. If customers were to purchase Stretchy together with Cadbury others products, customers will be entitled with some discounts, of up to 20%. Direct marketing through Cadbury website as well as GSC main website is also one of the marketing tool. This will help to keep update the cust omers the latest Stretchy design, and their seasonal promotions. Appendix Appendix 1 References Department of Statistics, Malaysia (2014) Population and Housing Census of Malaysia,Report on Characteristic of Household 2010,29 January, p.1-12. Haroun, Z (2011)Attitudes towards depression among a sample of Muslim adolescents in the Midwestern United States, Chicago: The University of Chicago. Fairfax County Department of Neighborhood and Community Services (2012)Economic, Demographic and Statistical Research, Virginia: A Fairfax Country Publication. Roger, E. (2011) Ià ¢Ã¢â€š ¬Ã¢â€ž ¢ll tell you why movie revenue is dropping. [Online] December 28th 2011. Available from: https://www.rogerebert.com/rogers-journal/ill-tell-you-why-movie-revenue-is-dropping. [Accessed: 13th June 2015] John, F. (2014)Journeys in Survey Research.[Online]. Available from: https://surveyresearch.weebly.com/what-is-spss.html(Accessed: 12th June 2015). Cadbury Company. (2015)Cadb ury Milk Chocolate Ingredients. [Online].Available from: https://www.cadbury.com.au/Products/Blocks-of-Chocolate/Cadbury-Milk-Chocolate-Block/Cadbury-Milk-Chocolate-Ingredients.aspx.[Accessed: 15th June 2015]. Schindler. (1991). Symbolic meanings of a price ending. Advances in Consumer Research. p. 794à ¢Ã¢â€š ¬Ã¢â‚¬Å"801. Golden Screen Cinema. (2014)Film Exhibition.[Online].Available from: https://www.gsc.com.my/html/default.aspx?GPID=7ID=67PID=69[Accessed: 18th June 2015].