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Marketing for Health Food Candy

The purpose of this research is to develop a marketing plan for a health food candy. The candy is classified in the health food category due to product ingredients. The marketing plan will include a description of the product, the production process, identification of the target market, as well as advertising and promotional techniques through the most effective channels of distribution.

The candy is a natural food. That is, the candy is free of refined sugar, non-nutrient sweeteners, as well as all preservatives and additives. The product is a rock-candy sweetened with fruit juice. Fruit juice provides the desired sweetness without the high caloric count of other candies. The candy is designed with nutrition in mind rather than shelf life or cosmetic appearance. Therefore, the creative strategy to market this product is based on the advantages of nutrition.

New product development is costly and risky. Therefore, it is essential to analyze trends [in similar product data] over a period of time to compare and contrast leading indicators. Economic activities are viewed as tools to help determine market potential and trends in market behavior. For instance, economic indicators identify primary and secondary markets as well as ascertain if conditions are likely to improve, worsen, or remain constant. Competitive analysis is essential to gain knowledge of competitors through review of media coverage, annual reports, trade shows, and product literature. A third analysis, market share analysis, is conducted to gather information through government statistics, trade associations, and market research studies.

According to one study (Taylor, 1984), it takes 58 product ideas to culminate in one successful new product. Even among those few product ideas which reach the market, the failure rate is high. As a result, many companies creatively imitate the proven innovations of others, rather than attempt to generate their o...

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Marketing for Health Food Candy. (1969, December 31). In LotsofEssays.com. Retrieved 07:33, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1681993.html