An analysis of a current product portfolio and recommendation of a new Essay

An analysis of a current product portfolio and recommendation of a new product for the UK market, taking into account the market - Essay Example Historically, company was given a royal warrant by Queen Victoria and also declared it as the official manufacturer of cocoa products for the monarch. Later in 1861, the business was taken over by John’s son due to his deteriorating health condition. Subsequently, the company started innovating newer products such as the milk chocolates made up of dried milk powder, sugar, cocoa solids and cocoa butter. The company increased its product portfolio primarily to compete with the leading Swiss milk chocolates in the market (Poulter, 2013). Even though Cadbury has a diversified product portfolio but its ultimate production has always been the chocolates and cocoa products. Their product range comprises from varieties of chocolates in the form of Christmas treats, bars and boxes to the drinking chocolate. The company also specializes on the products made up of vegetarian ingredients (Cadbury, n.d). The vegetarian products are free from the meat based items and are preferable by most of the customers who share vegetarian eating habit. This report focuses on the product portfolio of the company and makes recommendations for the launch of a new product after considering the factors such as market opportunities, marketplace scenario and completion associated with the UK market. Current Product Portfolio Cadbury possesses a wide range of product portfolio among which the major products include Dairy Milk, Milk Tray, Flake, Creme Egg and Roses (Woodgrange Technologies Ltd, 2012). Initially, the company started its operation with as a small chocolate selling business but later after the 100 years of its business, the company entails under its umbrella wide variety of products. If the history of the products is to be reviewed, then it can be observed that all the products were developed by the company primarily during the year 1905- 1938. The company has constantly been involved in adding products under its umbrella in order to strengthen its product portfolio [Dairy Milk in 1905, Milk Tray in 1915, Flake in 1920, Creme Egg in 1923 and Roses in 1938] (Macmillan Publishers Limited, 2013). The company has also diversified its product portfolio from chocolate related brands to many other stronger brands such as Bourneville, Green & Black’s and Jaffa along with other categories of chewing gums and candies which has proven to strengthening its product portfolio to a considerable extent. Cadbury has been focusing on the expansion of the products to make its market stronger and also with an intention of providing its customers with the best products. It is worth mentioning that Dairy Milk is the most preferred and popular brand of chocolate among the people almost all over the world. It was launched in the year 1905 with an intention of expanding its business. Notably, the products were produced by the company with lower costs within the intention to capture the customer’s interest along with earning substantial profit for their sale. . T he company has been manufacturing the products which are enjoyed by people of all age (Macmillan Publishers Limited, 2013). Targeted Audiences The targeted audiences for Cadbury include people from all age group. Almost all the people including children and adult are very