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Introduction The market leader of the chocolate industry in India, Cadbury, is a British subsidiary of the American multinational confectionary, food and beverages conglomerate “Mondelez International”. Cadbury, is the second largest confectionary company in the world, close on the heels of Mars, Inc. In India, Cadbury owns a market share of 66 %, significantly ahead of the other multinational company operating the same space for many years, Nestle India, as well as other national, international and regional brands like Amul and Ferrero.
Cadbury India began its operations in India in 1948, and has been a trusted and favored brand for decades in India.
The market share has decreased from 70-80% in view of entry of other international chocolate companies in the Indian market, however it is still significantly large. Cadbury figures in the Brand Trust Report, 2011 in the Top 100 Most Trusted Brands in India. While Cadbury sells products in several categories such as candy, gum, beverages and chocolate confectionary, this report is aimed at studying the marketing strategy employed by Cadbury India in view of its chocolate confectionary business.
Some of the products in this category include the highly popular Dairy Milk, Dairy Milk Silk, Bournville, Temptations, 5 Star, Dairy Milk Shots, Celebrations, Perk and Toblerone.
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In order to analyze the marketing strategy for Cadbury, this report begins with a SWOT analysis of the company. Environmental Analysis Political Food Safety Act 2006: Detailed and exacting regulations, for standards of production as well as imported chocolates, exist in India. Opportunity. Cadbury is better equipped to follow standards in production than smaller regional or local brands.
Expand into the rural areas before local or regional companies focus on the rural market. Import Tax Rates on Chocolates: A tariff rate of 30% is levied on chocolates. Opportunity. Strength. Demand for premium chocolates at affordable prices can be encashed before foreign entrants can grow their roots within the Indian industry by introducing and aggressively marketing domestically manufactured premium chocolates. Economic Per Capita Spending Patterns: The biggest consumption category in India is Food. Spending in this amounts to almost 21% of the Gross Domestic Production. People, on average, spend 31% of their budget monthly, on food.
70% of the food spending is on agri-products, which incorporates candies and confectionary including chocolates. Two-thirds of this spending is on processed products. Domestic spending on food is expected to grow at a compounded 3 annual growth rate of 4% and billed to reach approximately 320 billion US dollars in value within the next 7 years. USD 841 million is spent on chocolates and confectionary in India. Opportunity. In households across income groups, a large share of money spent goes towards processed agricultural products including chocolates and other confectionary items.
This can be encashed by developing effective channels to reach out and sell to lower and lower middle income groups. Strength. Socio-Cultural Social and cultural acceptability of products: There is an increasing acceptance of chocolates as an equivalent of traditional sweets in urban areas. Chocolates are, however, still seen as a luxury food item in rural areas. Opportunity. Chocolates are increasingly being seen as an equivalent or substitute for traditional sweets in terms of the convenience it offers when used for gifting on occasions. Strength.
Cadbury is already working on this approach to sell to urban consumers. Rural consumers can also be reached out to and offered chocolates as a new gift item replacing sweets leading to increased sales. Technological Constantly improving technology in chocolate making leads to better tasting products as well as more convenient storage. Opportunity. Strength. Cadbury has the financial capability to invest in R&D and has already produced products that are better suited to Indian tastes and storage conditions that other foreign entrants into the industry are not yet as well adapted to. Natural factors.
Climate for Cocoa Production: Cocoa, used to produce chocolates can only be grown in regions 15 degrees to the north or south of the equator. Cocoa, originally a crop native to the Amazon basin, can only be grown in the southern states of Kerala, Tamil Nadu, Andhra Pradesh and Karnataka. It is not a commonly grown crop. Threat. Lack or scarcity of domestic cocoa producers can affect production costs of chocolates within the country. Strength. Cadbury has encouraged farmers in Kerala to produce cocoa since the 1970s and is now in the process of promoting Cocoa as an inter-crop plant for coconut growing farmers.
Successful pursuance of this connect with the farmers would help Cadbury procure raw material at lower prices within the country. Consumer behavior Age composition: 66% of the population is below the age of 35. Opportunity. It implies that a huge part of the population can be encouraged to take up consumption of chocolates more frequently and will be met with less resistance than that put up by older consumers with already set eating habits. Strength. 4 Competition Traditional Sweets: Very widely available and traditional choice, but inconsistent in hygiene levels and taste. Threat.
Build on image of chocolates being a better and more hygienic choice, which adheres to food safety standards set out by the Govt. Build on image that chocolates are a more sophisticated choice for gifting carrying greater meaning than ‘mithai’ from neighbourhood sweet shops. Strength. Confectionary items like candies, cakes and icecream: Candies are easily available and appeal to children who have traditionally been the target consumers for chocolates. Threat. Cadbury can emphasize more strongly that chocolates are not meant only for children but for adults as well who may not prefer to eat candies.
Cadbury chocolate can be offered as an experience, that is not replicated by eating candies and conectionary items. Strength. Entry of several foreign players: As India is seen to have a rapidly growing chocolate consuming country, with people willing to spend not only on inexpensive smaller packs of chocolates, but also premium chocolates as well, foreign players have started foraying into the market with the hope of establishing a presence in the premium sector at least. Threat.
Cadbury can increase its foothold in the premium sector of chocolate industry by launching and promoting premium chocolate brands with higher cocoa content which could be priced a bit lower than the foreign brands. In fact, Cadbury is already in the process of implementing such a strategy through the introduction of Bournville and Toblerone. Strength. Suppliers Global network: Half of the cocoa sourced for chocolate making by Cadbury is from sources around the globe, including countries like Ghana, for its famous brand Bournville.
Opportunity. Cadbury can source the majority of its cocoa from farmers in India through contract farming, while importing from foreign countries specifically for certain brands only. This will help reduce loss due to global fluctuations in cocoa bean prices and also reduce transport or shipment costs. It will also help create an even more positive image in the eyes of the Indian population. Strength. Dealer network: Cadbury has CSR activities directed at the farmers who are producing cocoa on contract for Cadbury in the state of Kerala.
Opportunity. Cadbury is now in the process of extending these activities to farmers in 3 more southern Indian states. This will help cement positive relations between the cocoa growers and the brand, which may put it at an advantage when compared to new foreign entrants in the country like Ferrero or Mars, Inc. Strength. 5 Advertising environment Use of role models: Trustworthy role models in the media, when used as Brand Ambassadors, give a much needed push to the further acceptance of a product. Opportunity.
Cadbury has been able to utilize this by roping in celebrities like Amitabh Bachchan, thus emphasizing the idea that even adults can have chocolates, since even a person of Amitabh Bachchan’s stature has not shied away from having them. Cadbury also has the financial power to rope in more high profile celebrities for the same. Strength. Availability of media and ad agencies: Several media channels like TV, Radio, newspapers are available for Cadbury to advertise on. Opportunity. Cadbury has been advertising its chocolates heavily throughout, to keep the brand on top of the mind recall.
There have been innumerable ads by Cadbury that have long stayed on people’s minds and even evoked nostalgia, indicating a deep connect of the brand with the audience. Strength. Segmentation Cadbury segmented the consumer based on age. Till the 1980s, chocolates were seen as a luxury item which were eaten only on special occasions or used to reward children with. Despite being the market leader already at this time, Cadbury decided to reshuffle their marketing strategy and position chocolates as a snack and an everyday item of consumption rather than a special treat.
In order to do this, the first step was to segment the consumers. Geographic or occupation based segmentation would have proven less relevant in helping raise revenues generated from chocolate sales. The segmentation was done on the basis of age. The existing segment of choice for Cadbury had been children up to the age of 14 who had been driving the consumption of chocolates until the 90s. The other segment that the consumers could be grouped into was the adult population. Targeting The decision made to target a segment is based on gauging the segment attractiveness of the segment.
During the 90s, with a rise in the population of the 15-35 year olds, combined with a surge in income and spending power due to the simultaneous opening up of the economy, made the adult segment an attractive one and since then, it has been targeted by Cadbury. Being the market leader already, switching to this target consumer group was not a difficult move for them, in terms of channel attractiveness of the segment. The existing channels which served the consumers until the 90s, such as kirana stores, need no resource intensive special adaptations to serve the youth consumer group as well.
Alongside this, competitive attractiveness of the youth segment was also high since no other chocolate company had targeted this consumer group so far. Although this meant 6 Cadbury needed to put in extra marketing effort to change the social acceptance of chocolates in this group, it also translated into a first mover advantage for them. Positioning Positioning is the decision of how the brand wants to be perceived as by the target consumer group vis-a-vis competitors.
Cadbury has positioned itself to cater to specific needs and attributes that the target consumer group looks for. Cadbury’s objective was to engage the customers of the adult age group. In the early 90s, Cadbury had the leading share in the market but the volume of sales in terms of per capita consumption was very low compared to western countries. This was also because consumption of chocolate by children was strictly governed by adults and hence increasing per capita consumption within the children consumer group was not a feasible option.
In order to widen the net of consumers, Cadbury had to increase the social acceptance of chocolates in the adults age group. This was done through the means of extensive and successively huge ad campaigns which eventually lowered the attitudinal barrier that existed. Cadbury had wanted to and has successfully moved from the perception of chocolate being a children’s product to a celebratory/gifting product, and more recently an indulgence product (For instance Cadbury Silk).
In 1992, Cadbury launched a series of aggressive ad campaigns starting with ‘Real Taste of Life” which showcased adults eating the chocolates on their own and not in a parent role or buying it as a reward or a way to say sorry to loved ones. This included the famous ad “Kuch khaas hai zindagi mein” which showed adults enjoying the taste of chocolates on their own. Later on, Cadbury launched a campaign for Perk which said “Thodi si pet pooja” which emphasized the use of the chocolate as an any time snack to satisfy hunger, which was a marked shift from the earlier perception of chocolates.
Later, to promote Cadbury chocolates as an alternative to traditional desserts, the “kuch meetha ho jaaye” campaign sought to change perceptions once again, this time including the entire family consisting of elderly grandparents also in the ad to show acceptance of the Cadbury chocolates as dessert. By tying chocolates to Indian customs, and festivals, like Celebrations especially for Raksha Bandhan and Diwali, Cadbury has come a long way from the “Real Taste of Life” campaign, and “Indianized” itself in order to entrench itself within the minds of the adult population in India.
Marketing Mix – 4 Ps Product/Service Product There are four types of products by Cadbury India, and this report is focused on the Chocolates category. These aim to satisfy the hunger need as well as relaxation and convenience need (easily available snacking option). In order to satisfy these needs, the 7 product is available very easily, at least in the urban markets and in various sizes. Cadbury chocolates are branded so as to represent some emotional core values like family values, and togetherness, but at the same time, they are also branded as a fresh, satisfying, convenient product.
Place Cadbury has 6 company-owned manufacturing facilities: 1. 2. 3. 4. 5. 6. Thane Induri (Pune) Malanpur (Gwalior) Bangalore Baddi (Himachal Pradesh) Hyderabad There are 4 sales offices, one each in New Delhi, Mumbai, Kolkata and Chennai. The corporate office is in Mumbai. In terms of distribution, Cadbury chocolate products are sold directly to wholesalers and retailers. The network comprises roughly 2100 distributors and 4,50,000 retailers. The chocolates are sold through Kirana stores, gift stores, medical stores, canteens, paan shops, bakeries and so on.
Price The generally established price point for chocolates in India is Rs 5 and Cadbury has 4 products at this point including Dairy milk, 5 star, gems and perk. This price point accounts for half of chocolate sales in India. At the same time, Cadbury sells multiple differently sized packs on a range of prices, going up to higher, premium priced products as well such as Bournville. In this way, Cadbury has a hold on various price points available to various groups of consumers based on their appetite for spending.
Promotion Cadbury promotes its products through various media channels. It uses mainly television ads with strongly featured taglines that get associated with the products easily. There is some amount of seasonality in the market in the way that demand ideally goes up during festive season due to gifting needs and Cadbury launches special ad campaigns around those times to encash on this increased demand. National level competitors like Amul have been unable to match up to the scale of promotions undertaken by Cadbury.
Regional players hardly advertise on a big scale through campaigns. However, its MNC competitor Nestle has its own promotional ads and campaigns that seek to rival Cadbury’s and sometimes directly challenge the Cadbury ads. 8 Recommendations 1. In view of the recent entry of foreign players in the market, though Cadbury does not face the threat of losing a significant amount of its existing customers, for instance, those who buy Dairy Milk or Perk, there is a possibility of losing out on potential customers who are interested in premium chocolates.
Since this is a rapidly growing industry, and being the established market leader, Cadbury should focus on its premium chocolate brands in a big way through more visible ad campaigns and promote their products based on the brand equity they have built through the years. 2. While leveraging the lower cost of Cadbury premium chocolates vis-a-vis foreign chocolates, Cadbury must take care to ensure it does not go the Tata Nano way, as lower prices in the premium segment may be perceived as lower quality in the product delivered as well.
3. As it has already managed to successfully position chocolates as a snack for children’s as well as adults’ consumption, it can now focus on activating the elderly consumer segment which is typically more resistant to chocolates compared to traditional sweets and feel guilty on indulging in chocolates even if not restricted by health reasons. 4. Cadbury can now change the positioning of certain specific products or introduce new products to cater to “instant energy” giving needs similar to Mars bars abroad. 5. Recently, a 20-calorie chocolate has been developed in the UK which is now being sold at Michelin starred restaurants.
Cadbury can also direct some of its R&D endeavors towards developing a similar product which would give the company a distinct edge over competitors and help tap into a new markets and increase their consumer width. 9 NATIONAL BRAND 10 Introduction Amul is an Indian dairy Co-operative based out of Anand in Gujarat. The co-operative started off as the Kaira District Co-operative Milk Producers Union in December 1946. The Co-operative was set up by the milk producers of the Kaira district of Gujarat who felt cheated by the unfair trade practices.
The co-operative collected processed and marketed milk and was co-owned by the milk producing farmers of the district. The brand Amul was used by the Kaira District Co-operative to market its brand of milk products. By the 1970s the Co-operative model had become highly successful and spawned similar Co-operative in other district s of Gujarat. In order to combine together and expand their market while not competing with each other, the Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF), an apex marketing body of these district co-operatives was set-up in 1973.
The brand name of Amul which was held by the Kaira Union was transferred to GCCF. Today, the GCCF is the largest food product marketing organisation of India. The co-operatives collect around 10 million litres of milk per day from around 3 million milk producer members of the Co-operative. Its current turnover is around Rs. 140. 0 billion. Amul started producing and marketing chocolates in 1970. It currently markets 6 different chocolate brands namely Congtas, Fundoo, Chocozo, Bindaaz, Rejoice, Almond Bar, Fruits and Nut and Amul Cooking Chocolate.
Current market share of Amul chocolates is just 4% as compared to market leader that is 66%. The main reason behind such low market share is lack of promotion and more focus on dairy products. Environmental Analysis Strengths ? ? ? Raw material (milk) security: Major raw materials for the production of chocolates are Cocoa, milk and sugar. Milk supply is secured for the company which protects it from any volatility in prices. High brand awareness: Amul through its concerted marketing over the last 5 decades has created a brand that is synonymous with good quality.
The brand has also become a symbol of successful Indian entrepreneurship that has positively impacted the lives of millions of small farmers, hence there is a sense of patriotism and pride associated with the brand as well. Strong distribution network: Amul has been marketing and supplying milk through a pan India distribution network which supplies milk and milk products to independent retailers but also to its own milk parlours. 11 Weakness: ? ? ? Low market share: Amul chocolates have a low market share in the Indian chocolate industry. The brand, though having a strong recall value, is not primarily associated with chocolates.
The market leader in the chocolate industry in India is Cadbury with 70% market share followed by Nestle at 20% market share. Co-operative structure of Amul: Due to the Co-operative nature of GCMMF, there is limited capital infusion in the company. As a result there is a limited scope for aggressive product launches or diversification. Volatility in Cocoa prices: Unlike the major chocolate producing companies in the world, Amul does not own a cocoa plantation. The prices of cocoa are volatile in nature as they are dependent on the international demand supply dynamics.
Not having a cocoa plantation of its own exposed the company to volatility in prices of this raw material. Opportunities: ? Huge untapped market: The per capita consumption of chocolate in India has increase from 40 gm per person in 2005 to around 110 gm per person currently. Though this is impressive growth in itself it is still much lower than the per capita chocolate consumption, in countries like Ireland or Belgium which have a chocolate consumption per person of more than 11 kilograms or even USA or Australia which have chocolate consumption per person of around 5 kilograms.
There is thus a huge untapped market for growth in the chocolate industry in India. Corresponding Strength: Since Amul has a strong “Brand awareness”, people would be willing to buy new products launched under its brand name. Amul can launcha variety of new chocolate products for youth and kids. ? Gifting: Gift hampers consisting of chocolates has been a successful marketing strategy by companies like Cadbury. Amul too has the ‘Rejoice’ brand especially for this purpose however there is scope to launch or aggressively advertise this.
Corresponding Strength: Since, Amul is a strong brand name and has a strong distribution network, It can very well advertise the gift packs like rejoice and can introduce new brands catering to the same need. ? Advertising: Amul need to advertise and carry out lot of promotional activities to inform the consumers that still exist and can provide them with what they want. It’s been years that Amul’s chocolate advertisement has been telecasted on India’s major television channels.
Sales promotions like discounts and free samples can also help them to increase the Brand awareness and attract customers to switch brand from competitors. Big brands use a celebrity as a Brand Ambassador for its product. 12 For example Amitabh Bachchan for Cadbury & Rani Mukherjee for Nestle, Amul can also use a brand ambassador for the promotion of its chocolates. Corresponding Strength: Amul has a huge turnover of around Rs 140 billion and is a financially strong company and has enough funds to carry out the needed advertising campaign and promotions.
By spending a small percentage of revenue on advertising campaigns Amul can increase its market share to a large extent. ? Low rural penetration of chocolates: There is significant awareness of the Amul brand even in rural India. The company can leverage these launch cheaper brands targeted at the rural segment which has till now stayed away from chocolate consumption. Corresponding Strength: Amul has been marketing and supplying milk through a pan India distribution network. It has a strong distribution network in rural areas. Amul can leverage this strength and can launch cheaper products in rural market.
Threats: ? Strong competition from foreign multi nationals: There is significant potential in the Indian chocolate industry which has been attracting international competition. Companies like Cadbury have been launching premium swiss chocolate brands. Also other premium chocolate brands like Ferrero Rocher are making their presence felt in India. Corresponding Weakness: Since “Amul” is mostly related to its milk products and has not made its presence felt strongly in the chocolate industry, its still far behind its competitors like Cadburys which is a very aggressive player in the chocolate industry.
Amul faces tough competition and to handle the same it needs enormous marketing and advertising campaign and introduction of new chocolate products under its brand name. ? Low brand loyalty in chocolate industry: Chocolates are impulse purchases and compete with categories of soft drinks, snacks and other beverages. Although people may like a particular type of chocolate (dark, milk, white, etc. ) there is not a significant brand loyalty. Hence this presents a threat to established players in the market.
Corresponding Weakness: Since Amul has significantly low popularity in chocolate industry and also people are picky while selecting a chocolate, there is not a single chocolate brand product under its brand which enjoys strong loyalty from consumer side. Also, people like to try different kinds of chocolates and are not necessarily inclined towards a single chocolate product. Since, Amul does not offer a large variety of chocolates; therefore it is at a weaker position in the chocolate industry. 13 Segmentation Geographic segmentation: Chocolate consumption is concentrated in urban areas of the country.
Chocolate consumption in rural areas of the country may be considered negligible. Chocolates are still considered as a luxury product by the population and are hence consumed by the middle and the upper classes of society which reside in the towns, cities and metropolitan centres of the country. Amul chocolates are thus marketed in these areas of the country. Demographic segmentation: Amul chocolates are mostly segmented its consumers into various age groups like the children, adolescent and youth segments of the society.
Since, chocolates are particularly liked by children and middle aged and older generations refrain from eating it citing health concerns due to high sugar content of chocolates. Targeting The brands of Amul chocolates like Fundooz, Bindaaz, Congrats etc. have been named to be attractive to the younger generation who use these words in their daily lexicon. There has been a strategy by the company to provide a young, dynamic and fun loving character to its chocolate through such branding. Amul chocolates also markets two brand namely Amul Cooking Chocolate which is targeted towards the homemakers and professional cooks and chefs.
Positioning Positioning is the decision of how the brand wants to be perceived as by the target consumer group vis-a-vis competitors. Amul has positioned itself as an affordable, “value for money” chocolate. Since, it has mostly targeted kids and youth, it is still considered as a snack unlike cadbury’s product like Celebrations which is considered as gifting option. Amul has not positioned itself as an alternative to sweets or has not developed its product to actually cater to an emotional need. It is simply a chocolate available at a lower price. Marketing Mix.
Product Amul has a very low range of products in its chocolate business. There are only 8 chocolate brands that Amul offers as of now in the market and these are Congrats, Fundoo, Chocozo, 14 Bindaaz, Rejoice, Almond Bar, Fruits and Nut and Amul Cooking Chocolate. The problem is that there is no clear differentiation between the products that it offers. For example Cadburys is catering to a different need corresponding to its individual Chocolate product. ? ? ? ? ? Product Dairy Milk Dairy Milk Shots Bournville 5 Star Perk Need Milk Chocolate (Basic taste and style).
Small balls of chocolate (Circular unlike chocolate bars) Dark Chocolate Sweeter in taste with honey as an ingredient Crispier with wafer inside However, Amul completely ignores such kind of differentiation between its products and hence their product can be easily substituted by their own products apart from the competitor’s product. Another important factor is packaging because majority of the consumers is kids and youngsters who like attractive packaging. Most kids buy chocolates not just because they like chocolates but also because of the attractive wrappers.
Packaging used by Amul stands low on appearance parameter. Also, it lacks a common theme or “top of the mind” recall point. For example, Cadburys is strongly associated with blue wrapper and more than brown it’s the colour blue that we associate with a chocolate. As compared to this, Amul’s packaging is weak and lacks lustre. Amul needs to make changes to its product (chocolates) like introduction of more flavours and attractive packaging because the wrappers Amul uses is not at all attractive compared to those used by Cadbury and Nestle.
This would keep them in competition with competitors like Cadbury and Nestle. 15 Pricing Second P of marketing that is Price is often confused with blindly lowering the prices of different products and completely relying on this strategy to increase sales. However it is of extreme importance to divide the target group on the basis of their price sensitivity and purchase power. Every customer segment has different price expectation from the product. To maximize the returns, it is important to identify the right price level for each segment and then progressively moving through them.
Amul has launched various chocolate products to cater to different segments of population. Pricing must take into account the competitive and legal environment of the industry. Majority of people in India live in villages and have low disposable income. With such a heavy competition in the chocolate market, Price plays a very important role. Amul pricing strategy has been “Value for Money”. Amul’s believes in giving value for money to its customers and it has always followed that principle. Its products are of high quality and available at affordable prices.
For example, Cadbury’s “Fruit n Nut” is priced at Rs 35 per 42 gm pouch whereas Amul’s Fruit and Nut is sold at just Rs 25 per 40 gm. Amul offers same quality at a price 30% lower than its competitor. Amul has not launched any premium (high price) product in its chocolate business. Place Place in marketing is considered as the channels of distribution through which products move from the manufacturer to the consumers. The channels of distribution mean intermediaries or middlemen who act as a link between the manufacturer and the consumers.
Factors that need to be considered when choosing the place are the characteristics of the product, characteristics of the buyers, control and competitors channels. Since chocolate is an edible product, Amul should adopt an intensive distribution strategy wherein they will manufacture products and make it available at various shopping malls, food joints, local stores, Chocolate parlours etc. Corresponding to its strong distribution channels, Amul currently has very low visibility. It needs to increase the visibility through offering discount to retailers along with buybacks to convince them to store the Amul Chocolates.
Since Amul is a “value for money” brand it can be placed anywhere from small kirana shops to big malls. Amul has a big brand name because of its dairy products. They can easily use it to increase the awareness of its chocolates using various distribution channels. 16 Promotion Promotion refers to exchange of information between an organization and the consumer of its products. Consumers here include Customers, shareholders, employees, government and other parties related to the products like trade union and media.
The aim of promotion is to inform the consumers, differentiate from other products and to persuade them to buy. There are many techniques of promotion like Advertising, Sales promotions, Direct Marketing & Personal selling. Amul has been criticised for lack of promotion. Amul has a strong brand name because of its dairy product leadership. Amul must advertise its chocolates using media like newspaper, television and internet to inform the public about the quality & the price of its product. Amul has totally shifted its focus from chocolates towards milk and other milk products and have totally ignored chocolates.
Using the mediums like Television and newspaper the company needs to remind the public that they are back with improved products at an affordable price. 17 Recommendations 1. Amul needs to introduce new varieties of chocolates and improve its existing ones. 2. They should introduce milk chocolates like Nestle’s Milky Bar, Chocolates with fruits and nuts like Cadbury has its Fruit and Nuts, Mint chocolates like Nestle’s After Eight etc.
Chocolate business plan. (2017, Mar 24). Retrieved from https://studymoose.com/chocolate-business-plan-essay
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