Analysis of Australian Confectionery Industry - Focus on Chocolate Market
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The chocolate industry in Australia is a constantly changing marketplace. The dynamic trends define what the consumer needs and wants. The companies in the industry must be vigilant to be able to predict these changing trends that affect certain segmented products.
Manufacturers must be aware that consumers are striving for healthier lifestyles, not only is there a demand for low fat and low sugar foods, people want to consume products with positive nutritional benefits (Category Review, 11/03/2003). Another trend observed by Cadbury, is that the impulsive buyer (the main consumer in the chocolate industry), is looking for larger chocolate bars, in retaliation to this trend Cadbury have released a range of larger, 75gram chocolate bars.
The Chocolate Industry is in its mature life cycle stage, the chocolate product is well established, so in order to gain an affluent status, companies have begun to coincide their products with promotions of blockbuster movies and music, that involve cash prizes and giveaways.
Impulse purchases are the driving force behind chocolate sales, so it is essential for the packaging to catch the consumers' eye as quickly as possible, innovation vibrant colour schemes and designs are applied to achieve this goal. It is vital for companies to study the public in order to understand exactly what we want, only then can a chocolate product be modified or marketed in a way that both the company and consumer will benefit.
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