Montreaux Chocolate Essay
Andrea Torres is the director of new product development at Montreaux Chocolate USA. She is in charge of delivering a comprehensive presentation to the Board of the company regarding her and her team’s research and findings about the purchase of the rights to distribute Monteaux’s European chocolate in the US, as a way to increase the company’s market share in pursuit of the upscale market segments. There are three main options she is considering and needs to be able to make recommendation as to the most optimal way to proceed going forward: do further product testing, launch in selected test markets, stage a regional rollout or launch nationally.
She would also need to be able to predict, with a high level of confidence, the sales forecasts over the next three years for the new product. The three main goals to achieve were national distribution of the new product, at least 115 million in annual sales and to be in the Top 25 in revenue. Based on multiple concept tests, focus groups Andrea settled with strong research and data that the best new product would be a 70% cocoa dark chocolate with fruit and healthy messaging on a new stand-up pouch, which would increase revenue potential and show much better alignment with health and wellness conscience consumer.
Questions to consider during the meeting and her final recommendations: 1.) Discuss the key challenges and marketing issues Andrea Torres must address at this time. Why do you feel these issues and challenges are key to the success of the new product line? The key challenges and marketing issues she must address at this time specifically deal with the which new product opportunity and overall marketing strategy was most in line with the companies’ health and wellness branding concept, which would be able to show and maintain strong consumer viability and would deliver financially for the company.
Her ability to pull together a new high-end chocolate product in a new market like the US, where little brand name recognition is given and achieve overall financial success in the efforts are tantamount to the success of the new product line. 2.) Evaluate the achievability of the company objectives for Montreaux USA, identify the most salient aspects of the chocolate confectionary industry, globally and domestically that bear on a new product introduction.