Galaxy Chocolate Product Launch in Canada

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Introduction

This paper provides the launch of galaxy chocolate launch in Canada. The launch comprises of a number of section including market research, a review of segmentation, targeting and positioning strategies, as well as an examination of international market. All these sections provide crucial information needed for the purpose of effective launch in Canada. For example, the market research emphasizes on the examination of the research question, designing of the research with the emphasis on establishing the study participants, and the research schedule. On the other hand, the STP section examines the segmentation of Galaxy Chocolate in Canada, as well as establishes a detailed marketing mix for the highlighted target market. The last section, international marketing focuses on the PEST analysis and marketing mix of galaxy chocolate with respect to the target market of Canada.

Market Research

The successful launch of any new product in a given market requires careful analysis of the potential of the product to succeed in the given market. Such analysis can include carrying out a market research and the examination of the segmentation, targeting and positioning aspects of the new product. In the case of galaxy chocolate launch in Canada, a market research will be carried out to evaluate the products feasibility in Canada.

Research question

Research questions are considered as suitable approaches through which a researcher examines any phenomenon under study (Creswell, 2009). Therefore, in the case of galaxy launch in Canada, a number of research questions will be used to examine the feasibility of galaxy chocolate in the country. These include:

What are some of the promotions that are most effective in getting individuals to buy any type of chocolate?
What are some of the factors that customers consider in a new bar of chocolate before buying it?
What drives customers to purchase chocolates?

Sources of secondary data

This market research will focus on examining the potential of galaxy chocolate in Canada. As such, sources of data are needed to provide the necessary information that can be used to draw comprehensive inferences. For this reason, secondary sources of data such as journals, books and website that contain information related about galaxy chocolate will be used. However, these sources must be credible for the data collected to be reliable. Therefore, the secondary sources of data will be scholarly

Designing the research

The study will involve both primary and secondary sources of data. The primary data will be obtained from various study participants in selected in Canada to provide responses that can be used to answer the research questions formulated above.

Methodology

Research methodology refers to the technique as well as any procedures that a researcher uses to collect and systematically analyze data in order to make inferences with respect to a given study phenomenon under investigation (Creswell, 2009). In case of this research, the study will focus on the collection of primary data from individuals in Canada to gauge the feasibility of launching galaxy chocolate in Canada.

Canada has a large population and thus, it would be cumbersome to work with the entire population of Canada. Therefore, the study will make use of simple random sampling technique to obtain a sample size that is reasonable enough to work with. The decision to use the simple sampling technique is based on the fact that this type of sampling technique allows for inclusivity of units in a sample as it gives all study units and people an equal chance of inclusion (Mitchell & Jolly, 2010). Additionally, the technique is reliable as it avoids classification of errors and is free of human bias.

The target population, which refers to the units or people that a researcher hopes to use in the collection of the required data, in this study will be all people visiting snack shops in Canada. However, the use of the random sampling technique will focus on at least 50 individuals to be included in the study sample for the survey on the launch of galaxy chocolate in Canada.

Schedule

The responses from the selected individuals are needed as soon as possible for the purpose of making decision with regard to the launch of galaxy chocolate in Canada. The table below provides the schedule of the research.

Establishing the sources of data	1 day
Choosing the methodology	1 day
Selection of the study participants	1-2 days
Designing of survey questions	1-3 days
Carrying out actual survey	1 day
Analyzing collected data	1 day

Table 1: Research schedule.

Segmentation, Targeting and Positioning

Segmentation

The segmentation of galaxy chocolate in Canada is carried for better understanding of the needs as well as requirements of the customer groups to be targeted and to ensure efficiency in product positioning and precision in the selection of promotional techniques to be used. The segmentation will be based on demographic, behavioral and psychographic aspects of customers. The demographic segment is based on the fact that many people in Canada consume chocolate. Secondly, consumption of chocolate in Canada is high on special occasions (behavioral). Lastly, there people in Canada have various lifestyles and interests.

Targeting

Given that most people consume chocolates irrespective of age but with respect to their lifestyles and interests galaxy chocolate in Canada will target individuals based on the psychological segmentation. The targeted market in this case will comprise of individuals with the will power to pay for premium quality chocolates, as well as households and non-household customers.

Positioning

Galaxy chocolate in Canada will be positioned as a premium chocolate for everyday consumption. To meet consumer touch point, galaxy chocolate will need to create image, people, channel, service, and product differentiation. However, such differentiation will be based on the strategies adopted by competitors in the market.

Marketing mix

Product

Galaxy product will be designed to meet the needs of different people according to their psychographic needs.

Place

The channels of distribution of galaxy cholate will focus on ensuring that almost all parts of Canada are served with the product. As such, widespread channels of distribution that focus on distribution of galaxy chocolate in the urban areas will be adopted.

Promotion

Various products promotion methods will be adopted for the purpose of ensuring that there is full awareness of the advantages of galaxy chocolates over the other brands of chocolates in Canada. Some of the promotional strategies to be used to create the necessary awareness include public relations, sales promotions, and advertisements in press and print media as well as personal selling.

Price

Galaxy chocolate will be priced according to the specific target group; for example, there will be the premium galaxy chocolates packaged for the high-end customers in Canada. In addition, low priced galaxy chocolates will be available for household and non-household consumers.

International Market

PEST Analysis of Canada

Galaxy chocolate is to be launched in Canada and thus, it is important to determine the factors available in Canada that can influence the success of the product both in the short and long-term. As such, the PEST analysis of Canada with respect to its suitability for chocolate launch is presented below.

Political factors

Canada is ranked among the top countries of the world that experience as stable political environment. This is attributed to the fact that the country has a strong parliamentary political system, and with a constitutional approach that is based on democracy (Blake, 2015). The implication is that there are no negative fears associated with political instability, which can lead to losses to any investments carried out in Canada.

Economic factors

The economy of Canada experiences a dominance of the service sector, which was considered to contribute about 70.2 per cent of the countrys gross domestic product in last year. In 2009, Canada experienced the global recession. Unlike other countries in the region, Canada was able to survive the recession through the availability of strong fundamentals (International Monetary Fund, 2014). The available of stable sources of energy in Canada contributes significantly to the living standards of people in Canada.

The oil and gas reserves in Canada are significant not only to the economy of Canada but also to the worlds economy. For example, the countrys natural gas reserves are ranked 21^st in the world in terms of size. Increased investment opportunities especially in the service sector have kept the economy successful. The implication is that most people in Canada have a high purchasing power and hence, the launch of galaxy chocolate in the country can be successful (International Monetary Fund, 2014). In spite of this, the country faces the challenge of increased Current Account Deficit as well as trade deficit.

Social factors

Canada comprises of both young and ageing population. In spite of this, the young population in the country forms the highest percentage in terms of key strength, and accounts for about 54.6 per cent of Canadas total population.

Technological factors

The manufacturing sector in Canada presents a significant opportunity in terms of technology. In addition, the young population in Canada is constant users of technology due to the introduction of social media platforms and the availability of internet-connecting devices. Such an opportunity can be used to create awareness of the galaxy chocolate products in the country through social media platforms.

With respect to the above PEST analysis of Canada, the marketing mix for the target market is provided below.

Product: the design of the galaxy cholate will feature the social and business culture of Canada. As such, various brands will be availed based on the specific needs of different people according to their psychographic needs in Canada.
Place: First, the channels of distribution will focus on specific urban areas in Canada for the purpose of gaining knowledge of the consumption habits of chocolates in Canada. With time, the company will focus on widespread channels of distribution to almost all parts the country. Therefore, the company will use locals to distribute the product from the company, through C&F agent, distributors, retailers and lastly to the consumers.
Promotion: various products promotion methods will be adopted for the purpose of ensuring that there is full awareness of the advantages of galaxy chocolates over the other brands of chocolates in Canada. Since the product is new in Canada, outside printed media, personal selling and advertising will be highly used.
Price: the price of nay given product is determined by its quality. In the case of galaxy chocolate, it targets all people in Canada but with differentiation based on psychographic needs. As such, the premium brands will attract a high price relative to the size of the market in Canada and consumption rate. On the other hand, other brands will be available to cater for the medium class in Canada given that the country has a high population of young and unemployed people.

Market Entry Methods

Market entry methods are described as the strategies that a new product uses to enter a foreign market. International markets are diverse and different and thus, it is not possible that one market entry strategy fits for all (Kenneth, 2015). In the case of galaxy launch in Canada, the partnering approach is more preferred. The decision to use the partnering market entry approach is based on the fact that it is an important approach especially in international markets which are very diverse in terms of social and business culture as in the case of Canada (Häussler, 2006). As such, the involvement of local partners will be important in this case as they will bring in contacts, local market knowledge as well as customers.

References

Blake, R. (2015). Politics and the Federal Principle in Canada: Newfoundland Offshore Oil Development and the Quest for Political Stability and Economic Justice. Canadian Historical Review, 96(1), 32-60.

Creswell, J. (2009). Research design: Qualitative, quantitative and Mixed methods approaches. Thousand oaks, CA: Sage.

Häussler, C. (2006). When Does Partnering Create Market Value?. European Management Journal, 24(1), 1-15.

International Monetary Fund,. (2014). Canada: Financial Sector Stability Assessment. IMF Staff Country Reports, 14(29), 1.

Kenneth, S. (2015). Foreign Market Entry Strategies. China-USA Business Review, 14(8), 1-15

Mitchell, M., & Jolly, J. (2010). Research design explained. Belmont, CA: Wadsworth.

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