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To keep customers loyal to the business Cadbury introduce new products

Decent Essays

To keep customers loyal to the business Cadbury introduce new products to the market as this helps.

C6: An understanding of the importance of New product development to An organisation. To keep customers loyal to the business Cadbury introduce new products to the market as this helps, to increase both competition and keep customers interested in Cadbury products.

However finding a product that will be successful in the market is time consuming and a lot of hard work, and it is a big risk for not just Cadbury but any business launching a brand new product to the customers. The reasons for why Cadbury decide to develop a new product could be for the following reasons:

- Changes in the customer’s lifestyles:

- This …show more content…

Recently (20th September 2004) Cadbury have launched a new product called “Snaps” this is obviously a chocolate product shaped like a crisp (curves) with crispy cereal pieces in there that make the product crunchy. Snaps come in three different flavours: Milk chocolate, Hazelnut, and orange snaps comes in a pack of 40 curves, which makes them ideal for sharing. Below is a picture of what a snap looks like.

Cadbury Hazelnut SnapCadbury Milk Chocolate SnapCadbury Orange Snap

Snaps product life cycle

I am now going to try to identify the product life cycle stage of
Cadburys snaps, I think that Cadburys snaps is in between two stages: the second stage of its product life cycle, this stage is known as the growth and development stage and the third stage which is known as the maturity and competition stage. This is because Snaps have now been launched in the market and also it has been advertised through the television programme coronation street, this helps snaps to be well known to the customers and potential customers. Because it is being advertised the product is in the third stage of its product life cycle advertisement also increases competition in the market.

How snaps fit in to the Boston Matrix

I think that Cadburys snaps are cash cows in the market as the product is still new to the customers and it will take time for the snaps to settle into the market

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