Reference no: EM132840961

View a variety of candy bars from the top four Canadian candy marketers: 

• Hershey's: www.hersheyscanada.com
• Mars: www.mars.com/canada
• Nestlé: www.nestle.ca
• Cadbury: www.cadbury.ca

We will design a candy bar based on wer personal experiences as candy bar consumers, the class discussion we had about the candy industry, and wer new role as potential marketers. When designing wer candy bar, be as creative as we can. However, the candy bar we design must answer the following questions:

a. Where and to whom will wer candy bar be sold? The answer to this question will specify the geographic location (Canada) and the characteristics (age, gender, income, health-consciousness, etc.) of wer target market segments. Provide a rationale for market segments we select.

b. What is the product? The answer to this question will specify the features, such as the ingredients, form, size, packaging, etc. and benefits of the candy bar we think are important to consumers. Provide a rationale for the product we create.

C. How much will consumers pay for it? The answer to this question will specify the price paid for the quantity received by consumers. Provide a rationale for the price we want to charge.

d. How will consumers find out about it? The answer to this question will specify the advertising methods and message we will use to communicate to consumers about the candy bar and the kinds of inducements (coupons, samples, etc.) we will offer them to try it. Provide a rationale for the promotions we want to use.

e. Where will consumers buy it? The answer to this question will specify the types of retail outlets or "place" where consumers in wer target market are likely to buy the candy bar. Provide a rationale for the distribution channels we want to use.

f. How is wer candy bar different from those already on the market? The answer to this question will specify the significant points of difference of wer candy bar. Provide a rationale for why wer candy bar is superior to those offered by the competition."

Spend 10 minutes and discuss and compare the marketing programs that the student teams developed for their candy bars. Ask the following questions of the entire class for discussion and probe their responses:

a. What is the target market we selected? Is it attractive enough (large, growing, etc.) to warrant the expense of a marketing effort?

b. What are the key features and benefits of wer product? Are they important to prospective customers? Can they form the basis of a message that can be effectively communicated?

c. What will we charge? What is the price based on? Do we want to recover marketing costs quickly by charging a higher price or do we want to achieve larger sales earlier by charging a lower price?

d. How will we communicate to consumers? What relatively inexpensive actions could we use to inform and induce prospective customers to try wer product?

e. What retail outlets will sell wer product? Will we sell the product over the Internet? Why?

f. What are the significant points of difference of wer product? Does wer product provide overall customer value?