There’s no denying that consumers are spoilt for choice in terms of confectionery products. They’re on sale from a plethora of retailers and they’re easy to purchase online. What’s more, they’re often hard to resist eating!
Have you ever wondered what it is about well-known confectionery products that make them so successful? If you’re considering launching a new confectionery product on the market, this article is for you. Here’s what makes confectionery products so prosperous:
Consumers already know the product
It goes without saying that one of the key factors that sway a consumer’s buying decision is knowing what the product’s like before they buy. People tend to purchase confectionery products because they’re familiar with the taste and quality.
The first time they tried the product might have been due to other factors (some of which are listed below). Or they could have simply tried a sample given to them inside a grocery store or given by a relative or friend.
The packaging catches people’s attention
It’s no secret that one of the reasons people buy products is due to the look and feel of the packaging. When you’re in a grocery store, for example, you’re far more likely to buy a product if its packaging stands out among its rival neighbors on the shelf.
Retail brands spend a lot of time researching very technical details about what motivates people to make their purchasing decisions. Aspects like colors, shapes, and graphics, are some of the factors that can increase (or decrease) the likelihood of making a purchase.
It’s all in the name
Another factor that influences people’s buying decisions is down to the product’s name, believe it or not! When naming a confectionery product, brands take care to use names that are unique, memorable, and catchy.
People are seldom going to remember names if they are hard to pronounce or understand, or just don’t make sense. Aside from the product itself and the packaging that surrounds it, the name is of equal importance.
Brands establish if there’s a market for their products
As you can appreciate, market research is vital to the success of a new confectionery product on the market. Today’s well-known confectionery brands spend a lot of time (and money) compiling and analyzing confectionery industry statistics for each country.
What they don’t want to do is start selling their products without establishing what types of confectionery are popular with people in each market. For example, in some markets, there might be a higher demand for non-filled chocolate products.
Brand associations
Lastly, consumers will usually associate the product’s brand with something. For example, the brand might conjure up images of a luxurious lifestyle. Or, it might get associated with youthful, fun, and happy people.
In any event, those brand associations will typically cause products to appeal to specific market segments. These could be middle-aged people, teenagers, men, or women. Sometimes, brand associations can be accidental – but still prove lucrative to brand owners!
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