Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Understanding and managing customers in the chocolate market - Essay Example

Comments (0) Cite this document
The chocolate market is one of the successful market sectors in the world. It targets a wide range of customers from children up to senior citizens. However, entering in this kind of market without sufficient knowledge and experience will just incur losses…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.9% of users find it useful
Understanding and managing customers in the chocolate market
Read TextPreview

Extract of sample "Understanding and managing customers in the chocolate market"

Download file to see previous pages The chocolate market is one of the successful market sectors in the world. It targets a wide range of customers from children up to senior citizens. However, entering in this kind of market without sufficient knowledge and experience will just incur losses.It is important to know how the different chocolate companies like Hershey, Cadbury, and Nestle were able to achieve success in the chocolate business. This paper discusses the current events that are happening around the chocolate sector in order to provide relevant information to potential clients entering the chocolate market.It also provides information on the current size and value as well as the trends and development in the chocolate industry. This paper tends to analyze the risks and opportunities in entering this kind of market sector.The cocoa into which chocolate is created was discovered in the Amazon 4000 years ago (2000 B.C.). The cocoa was part of the Mayan culture (6 AD to 600 AD) and symbolized as the "god's food." For the Aztecs (1200 AD), cocoa beans were used for currency. In the early decades of the 16th century, the process of making chocolate drink 'Chocolati' was learned. In the same period, Hernando Cortez established the first cocoa plantation in Mexico. The chocolate arrived in Spain in 1528 and became popular in Europe not until the 17th century. The first chocolate made by machine was produced in Spain. Several chocolate factories were established in the United States, France, Great Britain, Switzerland, and Germany during the late 18th century up to the early 19th century. Switzerland took over the lead in chocolate innovation as Swiss Daniel Peter discovered the milk chocolate in 1875. In the early 1900's the Swiss chocolate became famous around Europe while in the United States, the New York Cocoa Exchange was established for buyers and sellers of chocolates. In the Second World War, chocolates were used as supplements for the soldiers. The U.S. astronauts also included chocolates, as part of their diets. (Chocolate Month Club)
United States and Europe
Ryan Freund (2008) reports the global chocolate confectionary market had annual sales of 75 billion US Dollars in 2006. From the given figure, Europe contributed 35 billion US Dollars while the United States of America totalled for 16 billion US Dollars. They combine for a majority of the global chocolate market sales. Table 1 shows the average amount of chocolate the consumers spend per year. The United States has higher chocolate sales per capita of $53.16 compared to $48.08 chocolate sales per capita in Europe. Both spend at an average of $50 on chocolates every year. (Freund 2008)
Table 1
Chocolate Sales per Year
Chocolate Sales per Capita
United States
$16 billion
301 million
$35 billion
728 million

The British people are regarded as the biggest chocolate consumers in Europe consuming at an average of 10 kilos each person, every year. The British market is said to be around 4 billion Pounds. The two leading chocolate markets in United Kingdom are Cadbury and Nestle. (BBC News 2004) Table 2 shows the market value for chocolate confectionery in UK from 2004 to 2008. The chocolate market is sub-divided in to six (6) categories which are: "'boxed', 'moulded bars', 'Seasonal', 'Countlines', 'Straightlines' and 'other' Chocolate". (Business Insights 2008)
Table 2

Germans and French are the next largest chocolate consumers in Europe eating annually at around 8.3 kilos and 5.8 kilos each respectively. (Food Production Daily 2005) Table 3 illustrates the value of chocolate confectionery sales in Germany from 2004 to 2008. Like in Table 1, the sales value is further divided into six (6) subcategories.2
Table 3

In Asia, the Japanese eat at an annual average of 2.2 to 2.3 kilos each. In China, the Chinese are eating chocolates at an average of 1 ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Understanding and managing customers in the chocolate market Essay”, n.d.)
Retrieved from
(Understanding and Managing Customers in the Chocolate Market Essay)
“Understanding and Managing Customers in the Chocolate Market Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Understanding and managing customers in the chocolate market

Starbucks in Chinese Market

In the year 1996, the coffee giant marked its global presence. Up until 2004, the Chinese government prohibited Starbucks to operate its own stores in China. As a result, the coffee giant enters the Chinese market by joint-venturing with Chinese food and beverage companies and licensing other companies to own and operate its stores--differs from its domestic approach. But the company was able to easily overcome its initial obstacles and marked its presence in China very quickly and successfully with great brand recognition and customer satisfaction. The company also tailors its stores to match the local atmosphere. This is a transnational strategy. “For example, the Starbucks strategy in Shanghai is to attract middle to high...
7 Pages(1750 words)Case Study

The Company Targets Customers

... online retail with number of Configurational and cost choices; continuously adding computer Peripherals to consolidate their sales. Direct retail market in only few. Stiff competition to HP. New company; easy to make management systems.Only online sales. Every product available on the Strong 24X7 customer support. Strong leadership of . Michel Dell. Ever-growing brand value. Linux compatible PCs also Available. Always hiring new people...
8 Pages(2000 words)Case Study

Managing Emerging Technologies: The World Bank Group

information Technology helps the businesses in cutting costs and creating value to the organization as a whole, by minimizing the digital divide. This helps in developing new and effective business processes as well as in making value propositions especially in the new and modern corporate world whose business network is spread far and wide, such as the World Bank for instance. Information technology plays a vital role in integrating systems and strengthening the strategic ties between service providers and customers, thereby rendering effective services.
The World Bank is involved in various activities providing a wide range of services to several developing and in transition countries across the globe. The bank, owned, fina...
11 Pages(2750 words)Case Study

Market Structure

The market structure is mainly classified based on the number of active players in that market. These market players are the main component to supply a particular type of product in that market. If we look at the economists' view, these players within an industry are the main parameter for the level of competition in that industry. Whether it is a perfect competition or monopolistic competition these players supply only a small portion of the total output for the industry but this small contribution only determines the main market structure. If we talk about the market types there are few players in the oligopoly markets, only two in duopoly and a single player in the monopoly markets.
If we talk about car manufacturing compa...
10 Pages(2500 words)Coursework

The Effects of Financial Crisis on Supplier Selection Criteria of the Oil and Gas Industry Equipment Market

It is a difficult task to find those vendors who not only have the adequate quality and quantity of the needed raw materials but who also have an attitude of efficiency and display commitment to customer service (Sonmat, 2006). Further, organizations also strive to locate and select vendors who can be depended upon for long term relationship.

The number of factors or attributes desired from the vendor is vast, and different organizations and different industries place different importance on the attributes (Sonmat, 2006). Some of the vendor attributes may gain importance owing to the nature of the industry, for example, in the case of consumer perishables suppliers, like fresh vegetables or fruits, the buying firm would...
20 Pages(5000 words)Literature review

Understanding the Corporate Governance

Apart from providing the traditional telecommunication services, the firm has now entered into providing most modern services in UAE such as WiMax internet services, WAP, GPRS, and other more modern services which are also considered as a great step towards making UAE as the country with most modern infrastructure and telecommunication facilities. The overall customer base of the Etisalat has reached more than 74 million across the world thus making it one of the leading telecommunication services providers in the World.
What is also, however, important to understand that the Etisalat, over the period of time, has been able to prove itself as one of the leading corporate citizens in the Region? Its nationalization program, as...
11 Pages(2750 words)Research Proposal

Economic Models: The Free Market and The State Owned System

The free market concept is mainly a theoretical concept as every country, even capitalist ones place some restrictions on the ownership and exchange of commodities (Free market economy). Therefore, the term free-market economy primarily means a system where the buyers and sellers are solely responsible for the choices they make. It gives the buyers and sellers the power to do business without being afraid of any regulations and intervention by the state. Hence, a free market gives the absolute power to prices to determine the allocation and distribution of goods and services (Free Market Economy). The pricing mechanism is in turn, driven by the forces of demand and supply of goods and services. Demand and supply of...
9 Pages(2250 words)Case Study

Money Policy versus Credit Market

Financial institutions generally engage in securitization to enhance their profits by trading in the collateralized backed securities that generate high yield returns to the financiers. This nevertheless inversely and negatively affected the credit markets as their efforts to enhance their liquidity positions backfired. Consequently, the import of these monetary strategies has generated cyclical effects on the monetary system to the detriment of the financial system.

Normally, money markets demonstrate a more efficient allocation of credit whenever additional liquidity is injected into the system, which would otherwise display some undesirable distortions. Ultimately, the liquidity market is not easily susceptible to ex...
6 Pages(1500 words)Case Study

Foreign Market Entry and Diversification

... which Modelo decided to capture the target market. Gambrinus was also an experienced distributor which was operating in other 25 states in the country. There was huge competition between these two distributors although they were not catering to the same geographical market. According to Modelo’s strategy, distributors were responsible for all activities regarding the transport, custom clearance, insurance, pricing strategy, advertising campaigns and sale of the beer. However Modelo reserved the right of final decision regarding the brand image. Furthermore a subsidiary named Procermex Inc. was set up by Modelo with the purpose of coordinating, supporting and supervising the two distributors of the company. The company maintained a healthy...
7 Pages(1750 words)Assignment

How Do Customers Assess Service Quality of Retailing Websites

Given the emergent nature of online commerce, it is a tough task for retailers to develop a website that meets all expectations from consumers. This view is supported by a survey conducted by the UK’s largest e-consultancy Cap Gemini. The survey identified several key disadvantages for online shoppers. Some of these include “’ Availability’, ‘Can’t be in to receive delivery’, ‘Premium charged for delivery’, ‘Can’t see or feel the merchandise’, etc.” (Quader & Quader, 2008) These are not trivial complaints by any means and despite the e-retailing industry setting foot into its third decade in existence, there are no satisfactory solutions found for th...
6 Pages(1500 words)Literature review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Understanding and managing customers in the chocolate market for FREE!

Contact Us