Bangladesh’s chocolate industry has not grown significantly even after a certain industrial revolution. At present we need to rely on foreign chocolate brands. Different chocolates of Cadbury, Hershey’s, Mars, Snickers, KitKat, Alpenliebe, Toblerone, Eclairs, Munch are few most preferred chocolates in Bangladesh. But unfortunately none of these are local product. We couldn’t develop our chocolate industry much. The reason behind that is lack of interest of customers about chocolate. Marketers could realize that the customer’s demand for chocolate in Bangladesh is not that much high. That’s why this industry failed to grow significantly. However, in recent times the demand of chocolate has ...view middle of the document...
If we plot the Bangladesh chocolate market, we can identify where existing chocolate brands have been positioned by manufacturers. For example Ferrero Rocher and Various Cadbury Chocolates are high quality and high price so they are placed in the top right hand box, whilst Choco Choco is an affordable "every day" treat chocolate so it has been placed in the bottom left hand square, in the low quality low price brand box.
Perceptual maps can help identify where (in the market) an organization could position a new brand. In our example this could be at the medium price and medium quality position, as there is a gap there. There is also a gap in high price low quality but consumers will not want to pay a lot of money for a low quality product. Similarly the low price high quality box is not complete because manufacturers would find it difficult to make a high quality chocolate for a cheap price or make a profit from selling a high quality product at a low price.
2) Availability vs Price
Cadbury, Hershey’s, Mars, Toblerone, Snickers
Choco Choco, Gems, Eclairs, Munch, Layer
Low Price High Price
Ferrero Rocher, Elson Choco Star, Treat peanut bar, Cocola Frutics, Fruto Toffe, Elson Gold Coin
Pearls, Olympic Creamy Caramel, Elson Milkee, Choco Bean, Milky Stick