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Marketing in Practice - Case Study Example
Author : jeffryfranecki
Pages 8 (2008 words)
Marketing research provides the vital information to help marketing managers understand those wants and needs and translate them into actions in their marketing activities. This information reduces the risk and uncertainty marketing manager face and helps them make better decisions…
Global scenario of Confectionary industry: The confectionary market consists of chocolates, gum, cereal bars and sugar confectionary. The global confectionary market grew by 3% in 2006 to reach a value of 100.9 billion dollars. Chocolate sales dominate, accounting for 54.4% of the global confectionery markets value. Out of total confectionary market worldwide, Europe generates 46.6% of the total global confectionary markets value. It has been projected that in 2011, the global confectionary market will become to the value of 116 billion dollars, an increase of 14.9% since 2006. By the year 2011, the global confectionary market is forecast to have a volume of 15.1 billion kg, an increase of 9.9% since 2006. (All the data has been extracted from the Data Monitor report on global confectionary, Feb 2008). The confectionary market in regions such as Western Europe and North America has become mature and nearing to saturation. Consumption level in these areas reached to nearly static position. Confectionary market is growing mostly in Central and Eastern Europe, India and China. It has been forecasted that global confectionary market between 2006 and 2010, grow @16% in value terms reaching more than 145 billion dollars. Volume sales have been expected to over 17.8 million tones by 2010. ...