2- Problem Statement

The chocolate industry is intense and highly competitive, Whitakers has to continually innovate to compete with competitors through new products.Such cannot be done immediately due to fact that thecompany is unaware of its competencies and also faces the issues indeveloping a new market strategy, catering the customers through health based range gluten free or low fat to create a competitive edge in the market.The company aims to bring out something different and tap into this health conscious market. Through the following research design, thecompany is planning to understand what the consumers taste and product preferences are, and how healthbased marketing would allow it to create a competitive edge in the market. This is vital in ensuring that Whitakers continues to be a sustainable growing company.

“To investigate the potential of health base chocolates in the market  to maintain the competitive edge”

 

2.1- Research Questions

  • What flavors are most preferred by the consumers that aligns with the lifestyle and mindset of the consumers?
  • What is the nutritional value for the customers in making the food choices?

 

2.2- Research Objectives:

  1. To investigate the importance of healthy diet in the lives of the customersthat directsthe decision making andpurchase decision.As it will allow the company to understand the preference and choices of customers, enabling themto design the better productsaligned with the customer demand.
  2. To outline the strategies for the company to tap the end customers effectively.Itis due to the factthat in thecurrent situation, the company is struggling to determinethechoices of the customer and the rightstrategies.This research will allow the company to develop the set of option/strategies in tapping the end customers.

3- Research Design:

3.1- Nature of research:

In the given research, the exploratory research technique has been used in order to gauge the relationshipbetween the changing trends in the market and the effect on business’s newproduct developmentstrategies. Also, the particular technique allows the researcher to interprets the findings and search the new phenomenon through the primarilyresearch, thushelping in justification of the research objectives.

3.2- Type of research:

In the given research, the primary researchhas been conductedusing the questionnaire to collect the responses from the general public, helping thecompany tounderstand the market behavior and trend.In addition to this, the secondary research will also be used in order to develop abetter understanding of the factors and the constraints in developing the new product strategy.

3.3- Target Population:

The target population for the particularresearch will be the people aged between 22- 45 years old.Itis dueto the fact that since such trend are found to have beenincreasingfrom the 2002, it is moreappropriate to gauge the market lying between the 2002 to 2016 period.

3.4- Sampling technique

In this research study, non-probabilistic sampling technique i.e. convenience sampling has been adopted as it allows the researcher to measure a specific portion of the population while being cost-effective,making this technique perfect for the proposed research design………………

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