Target customers, better known as a target market, is a group of customers that a firm plans to reach with marketing efforts.Target customers may be identified for a business, brand, product, location, sales or marketing strategy. The greatest growth was in premium products, which expanded 11%, and in dark chocolate products, which grew 8%. While production has started to expand into more stable regions it has not yet become diversified enough to normalize the supply. Choice of franchising: Catering, retail and a retail-vending cart for special events. To identify the importance of buyer behaviour and establish that the effective deployment of buyer behaviour would help the company understand its target market in detail so as to gain market share. Butlers Chocolate Cafe: All things chocolate with a focus on delightful customer experience. Check out a few of the franchises below! Whether you are just starting to look into franchise ownership or are ready to figure out financing options, our courses will give you the information you need to be ready to become a franchise owner. Much of the variety comes from niche products such as chocolate drink fountains, premium selections or unique recipes. That revenue of $21.1 billion in 2014 was a 2.9% increase over 2013. The 21.8 million veterans in the United States make up approximately 9% of all business owners! It seems like...everywhere. Particularly in the western world and increasingly in the eastern, it is a hugely popular ingredient or main event for desserts and even meals. A well-defined target market is the first element of a marketing strategy. As consumers in these areas grow more accustomed to “western” tastes, demand for chocolate has been booming. Find industry analysis, statistics, trends, data and forecasts on Chocolate Production in Canada from IBISWorld. You can select filters such as state and liquid capital requirements, and enter the price you'd be willing to pay for a lead meeting those criteria. See our list of picks for the best franchises to open this year. Business Assessment of The Hershey Company.docx, S P Jain Center of Management, Singapore Campus, University of Management & Technology, Lahore, S P Jain Center of Management, Singapore Campus • EMBA ES0001, University of Management & Technology, Lahore • MARKETING MISC, [Final] Hershey Company Business Report.docx, 02 Kotler Armstrong Principles of Marketing Chapter 2 3, University of California, Los Angeles • MGMT 120, University of Technology Sydney • BUSINESS 24222, University of California, Los Angeles • MGMT 3208. So, Hershey came up with its new products (Hershey Kisses), which helped, Mothers were also targeted because they determine the children early taste in candy. Chocolate is one of the most popular and widely consumed products in the world, with North American countries devouring the lion's share, followed by Europe. Chocolate Works: Variety! Year over year growth in this seasonal category was a healthy 8.5%! We use data, technology, and automation to improve our lead products both in the US & Internationally. Over 70% of cocoa production takes place in West African countries, particularly the Ivory Coast and Ghana. This includes holiday specific packaging, shapes, colors and even flavors tailored to occasion – religious, cultural and perhaps especially the Hallmark holidays. A report shows 66% western consumers put taste as the most important factor while o… © 2021 FranchiseHelp Holdings LLC. An A to Z directory of franchises and business opportunities we work with and some that we don't. Chocolate products, a cafe, music and card/gift shop in a unique setting. The following are common types of Target Market - Target Market Chocolate Industry The chocolate industry targets anyone who loves chocolate and chocolate companies have been known to, 9 out of 9 people found this document helpful, The chocolate industry targets anyone who loves chocolate, and chocolate companies. And although it's never really a bad time to talk about chocolate, it's especially relevant now: November 29 is National Chocolate Day, after all.But behind one of our favorite foods is a $103 billion industry with aspects most people don't know about — some sweet, and others that might leave a bitter taste in your mouth. Premium and dark chocolate are the strongest segments of the market in the United States in terms of growth, though not market share. Chocolate is one of the most popular and widely consumed products in the world, with North American countries devouring the lion's share, followed by Europe. The regions are politically unstable and production is frequently disrupted by fighting. Chocolate is one of the most popular and widely consumed products in the world, with North American countries devouring the lion's share, followed by Europe. Seasonal candy is a major driver of the confectionary industry, and in 2014 accounted for over 21% of sales – over $7 billion. Ferrero: 溶在口味，回味无穷(melt in the mouth, a lasting flavor) 3. Bin after bin of gourmet chocolate. Unique products and consumption experiences are keeping consumers coming back for more. The variety of chocolate products available is seemingly without limit, with the candy bars and cakes that we are all familiar with barely being the tip of the iceberg. Chocolate chip cookies are anticipated to have the greatest scope in the populous APEJ region as the continent is predicted to cross a value of two billion dollars by the end of the forecast period. Bin after bin of gourmet chocolate. Knowing your local market and providing a product or experience that can not be found is key to finding the right business. Customers can see it happening! TARGET • When logically analyzing, we tend to deduce that CADBURY DAIRYMILK targeted only the children aged between 4 to 16. Explore franchises and business opportunities by industry and category. The variety of chocolate products available is seemingly without limit, with the candy bars and cakes that we are all familiar with barely being the tip of the iceberg. Chocolate Chocolate Chocolate: Handmade chocolates made on site. So they target people, In the beginning Hershey’s candies were targeted toward children, although this was a, highly profitable market, it was relatively small and limited Hershey’s chances for, growth. This robust performance is driven by a 2.1% increase Chocolate is broadly classified by the amount of cocoa it contains. Cakes Market growth, trends, forecast, and the impact of COVID-19 have been captured in this report. The chocolate market in the UAE has been categorized into countlines, molded bars, and boxed chocolates, with countline segment expected to continue its market dominance through 2019. Consumers of all ages satisfy their sugar cravings with candy; both Hershey and Nestle target to these consumers. This powerful growth in demand - both locally and globally - is poorly matched against an unpredictable supply. Handmade chocolates, hand paddled fudge and original recipe ice cream. You will find people of all age groups and demography enjoying Cadbury products. The global chocolate market research report provides market segmentation by product (milk chocolate, dark chocolate, white chocolate), and by region (the Americas, EMEA, and APAC). Take our short quiz. Take our franchise quiz here. Product and Target Market Strategies Although the food industry market is viable, there are those organizations which have colonized a substantive portion of the market. But despite these differences, everyone agrees that pizza is a food institution. Chocolate is considered “dark” if it has more than 60% cocoa. Name brands such as Fannie May Fine Chocolates are already known and popular in the market, but bringing something new like the Rocky Mountain Chocolate Factory that focuses on gift giving could be just the ticket. They also target consumers who are willing to use chocolate as part of a gift. If you answered “neither,” you’re in the minority. Target Market Chocolate Industry  The chocolate industry targets anyone who loves chocolate, and chocolate companies have been known to change the taste of their chocolate for consumers. All rights reserved. Identify the perfect franchise for you! Globally the driver of growth continues to be changing tastes in Asian Pacific countries. Fannie May Fine Chocolates: Premium chocolate shop with signature products and packaging. However, chocolate consumers are considerably price insensitive. Hershey's milk … Global production of cocoa is currently forecast to decrease for the third year in a row – 2015/16 production is expected at 4.1 million tons vs. 2014/15 production of 4.2 million tons. The global cakes market is projected to grow at a CAGR of 3.5% during the forecast period. Chocolate is broadly classified by the amount of cocoa it contains. According to the National Confectioners Association, chocolate sales account for a whopping $21.1 billion of that candy industry – over 60%!! Except in rare circumstances consumers are willing to purchase what they consider an “affordable luxury.”. There are only few people out there that don’t love chocolate, and the sales show it: U.S. chocolate market alone is a whopping $21 billion. The market leader is Cadbury with a lion’s share of 70 percent. As of the 2012 US Census, 2.5 million businesses were veteran-owned, out of 27.6 million US businesses in total. Young adults possess incredible purchasing power. growing segments and potential target markets. Target a younger market with an ad on YouTube that goes viral. Confectionary products can be roughly described as “candy” or “sweets” - so inclusive of gummies, sugar cookies and even gum. Vegan Chocolate Market: Introduction As the name suggest vegan chocolate does not contain any ingredient derived from animals such as dairy product and dairy related products such as milk solids, milk fat, casein, and whey. Report Overview The global chocolate market size was valued at USD 130.56 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2020 to 2027. Target Market by Pamela Accetta Smith Processors and industry organizations appeal to the tastes of youth. The chocolate industry has been representing a multibillion dollar market since the past decade and is expected to reach new levels of growth within the next few years. DUBLIN, June 28, 2019 /PRNewswire/ -- The "Chocolate Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering. View Target market identification and customer analysis from BUSN INTL 711-0 at Centennial College. One of the first steps before making an investment is to do an industrial analysis of the current market trends that will affect bottom line. T he outlook for the world’s chocolate industry is brighter than it has been for eight years. The variety of chocolate products available is seemingly without limit, with the candy bars and cakes that we are all familiar with barely being the tip of the iceberg. Chocolate is the largest part of the $34.5 billion US confectionary industry. Learn everything there is to know about how online lead generation is successfully done for your franchise. The chocolate industry in India as it stands today is dominated by two companies, both multinationals. Welcome to the recipe book FranchiseHelp's "secret sauce." According to the International Cocoa Organization it can take a new cocoa plant 3-5 years to yield a crop. While the overall market remains flat, ethnic flavors such as dulche de leche are one bright spot. Chocolate is one of the most profitable components of the confectionary industry globally. About 17% of production takes place in the Americas (primarily South America) and 9% from Asia and Oceania. Do you love chocolate? According to Dr. Oz, dark chocolate “keeps you looking and feeling younger because it helps you control your blood pressure, avoid wrinkles, keep your skin younger and stay slimmer.” A sweet treat that you can feel good about! Rocky Mountain Chocolate Factory: Gift giving focus! UK chocolate sales grew by 1.6% last year to just over £4.1bn, but the amount of chocolate sold fell 1% to 437 million kg, according to market research firm Mintel. We know franchise development can be hard. This preview shows page 1 - 2 out of 2 pages. Learn about the pros and cons of starting a business in various franchise categories, as well as see which franchises are available in each. Euromonitor predicts the industry will enjoy a 6% rise in revenues in 2014, delivering record global revenues of US$117bn. A curated list of franchise-related news articles by the FranchiseHelp team. U.S. Candy Market Size, Share & Trends Analysis Report By Product (Chocolate, Non-Chocolate Candy), By End Use, Competitive Landscape, And Segment Forecasts, 2018 - 2025 Published Date: Jan, 2018 Base Year for Estimate: 2016 Report ID: GVR-2-68038 Refine your search by an array of parameters and quickly compare key facts and figures. Instead of being something to avoid or consider a special treat, consumers are finding out that many diets and even doctors are recommending regular consumption of dark chocolate. Industry revenue of “Manufacture of cocoa products, chocolate & confectionery“ in Brazil 2011-2023 Chocolate flavors consumers are interested in trying in the United Kingdom 2015 Most people either want to get a taste of that chocolate goodness, or just finished having one. The increasing demand and growing popularity To effectively segment the target market for Thorntons and identify those segment(s) here the company can effectively develop its business. Kilwin’s Chocolates & Ice Cream: Handmade chocolates, hand paddled fudge and original recipe ice cream. Our local target market is therefore roughly 10,000 people. Americans eat a lot of pizza - on average 23 pounds each year! Chocolate is broadly classified by the amount of cocoa it contains. • But it is worth admiring that how beautifuly 8. It might be a cheap meal after a game, a date night, a weekly treat, a quick lunch, or even a breakfast. Cadbury:顺滑(smooth) It’s true that in China, taste is the most important factor, but compared to western consumers, Chinese consumers don’t care about the taste nearly as much. Use Twitter and Facebook to promote the ad and direct people to watch it. These changing tastes and an increasing per capita income in China, India and other nations of the region have some analysts predicting a 30% increase in global cocoa demand by 2020. Milk chocolate accounts for more than 50% of all chocolate consumption but may contain as little as 10% cocoa. Chocolate makes up for 77% of all confectionery sales in Australia in a market worth $2 billion. So. According to “UAE Chocolate Market Forecast & Opportunities, 2019”, the chocolate market in the UAE is projected to grow at a CAGR of around 6.09% during 2014-19 in value terms. Milk chocolate accounts for more than 50% of all chocolate consumption but may contain as little as 10% cocoa. Tourists According to a 2001 study by the Connecticut Center for Economic Analysis (U. Conn), Connecticut’s travel and tourism industry generated gross revenues in 1999 in excess of $4.9 billion, or almost 4% of Connecticut’s 1999 estimated gross state product. On the last Marketing Communication we were talking about how advertisements can be persuasive when it comes to chocolate brands. Or do you just like it a lot? Dark chocolate is rich in antioxidants, which are believed to prevent or delay certain types of diseases, including cardiac disease. We'll help you quickly build your franchise ownership profile, then present you with a personalized set of franchises you could open! A recent study by Mintel International revealed valuable information about consumer choices within the $5.2 billion cookie and cookie bar market. All things chocolate with a focus on delightful customer experience. Chocolate industry is very nice example to work with because almost everyone, including me, is crazy about chocolate While confectionary stores make up only 5% of sales, they are typically the purveyors of higher quality, niche products – which have been increasing in popularity as well. Course Hero is not sponsored or endorsed by any college or university. The South Bend Chocolate Company: Retail kiosks, Chocolate Cafe sites and Cafe Express coffee carts. Growth of the chocolate industry over the last decade has been driven in large part by an increasing awareness of the health benefits of certain types of chocolate and growing popularity in Asian Pacific countries. Home Services Industry in 2017 at a Glance. Some of the products manufactured using dark chocolate include chocolate bars, candies and baking chocolate. And increasing production takes time! Handmade chocolates made on site. From the slogans of big foreign brands, we can see that taste is the key factor those big companies consider: 1. Looking for more franchises? Target market identification: The chocolate industry in Ireland is highly seasonal where peak Target market identification: - The chocolate industry in Ireland is highly seasonal where peak seasons of Easter and Christmas observe a sharp increase in sales. Customers can see it happening! One of the newest innovations within the market is organic chocolate, introduce as a result of the consumers demands. Premium chocolate shop with signature products and packaging. Target market for chocolate brands. Make a video ad parodying a current popular film or TV show, and featuring your chocolate, and place it on YouTube. Chocolate Apothecary: Chocolate products, a cafe, music and card/gift shop in a unique setting. FranchiseHelp offers franchise consultants a unique lead buying experience. These perceived health benefits have been driving strong growth for products with the heavier cocoa weighting. The latest report titled, “Dark Chocolate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global dark chocolate market reached a value of US$ 45.6 Billion in 2018, growing at a CAGR of 7.6% during 2011-2018. The segmentation of Cadbury products is based on mix of demographics, behavioural & psychographic factors; like on the basis of Income & occasions. link Impulse purchases account for 47% of confectionery bought, and nearly 50% of all chocolate buyers fall within the 25 – 49 year age group. Chocolate is one of the world's favorite foods. Hershey's milk chocolate has approximately 11% cocoa, with a whole lot of milk and sugar added in. Cadbury’s product offerings are mostly based on the production capacity, pricing of the various packs, packaging designs, and storage facilities at the outlets, occasional & situational demands, celebrity endorse… There has also been an increase in health understanding and the chocolate industry has, changed its way to help make it healthier for their consumers. Global chocolate market is highly competitive, with the presence of numerous leading players accounting for the major share. Grocery stores are the largest seller, followed by mass merchandise outlets and convenience stores. have been known to change the taste of their chocolate for consumers. Filter your search by startup capital required. Sir Chocolate Gourmet Chocolate Fountain: Choice of franchising: Catering, retail and a retail-vending cart for special events. For many of the small, regional farmers that is too much time to invest without a return that may never come.  They also target consumers who are willing to use chocolate as part of a gift. Get up to speed on any industry with comprehensive intelligence that is easy to read. There are an abundance of chocolate franchise opportunities for the interested entrepreneur! The marketing strategy proposed in this plan involves identifications of weaknesses in these firms. You're tired of "portals" being black boxes, and so are we. Confectionery industry market share in Mexico in 2016, by category Number of employees in the confectionery industry in Germany 1970-2019 Sales volume of chocolate confectioneries in … Retail kiosks, Chocolate Cafe sites and Cafe Express coffee carts. 2013/14 production was 4.3 million tons. Dove: 牛奶香浓，丝般感受(Sweet-smelling milk as silk tasting) 2. Major Target Markets and How Many People in Each Target Market The target market of the candy and other confectionery goods industry is children and adults with a sweet tooth. 7. Global chocolate market is projected to grow at a CAGR of 4.5% during the forecast period. Variety! Chocolate chip cookies closely follow chocolate ones and have a revenue share of a fifth of the global cookie market. Industry market research reports, statistics, analysis, data, trends and forecasts. That's why we constantly are looking for new ways to help you find qualified franchise prospects. Sales were expected to grow another 6% by 2017 to $22.4 billion. Australia chocolate market stood at $ 2.9 billion in 2017 and is projected to surpass $ 4.3 billion by 2023, on the back of growing chocolate consumption and rising demand for niche product categories such as organic chocolate products. 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