Skinny Snicker Bar

The typical life cycle of a product goes through a sequence of stages from market introduction, market growth, market maturity, and sales decline. This sequence is known as the product life cycle and it is associated with the evolving marketing situations that generally make up how a company makes decisions that can either set for a thriving business or one that can harm them. The company’s marketing mix and strategy allows for a company to make decisions based on the nature of their product and the time they introduce themselves in the market. We decided to improve the regular snicker bar to target the health-conscious consumers. Our product the Skinny Snicker Bar is going to go through the life cycle like any other product would.

At Snickers,

In order for the Skinny Snicker Bar to make a profit in the industry sales, we will have to start with a price of $ 1.65 for each bar. Since the Skinny Snicker Bar is a new sought product for the customers, we need to leave a budget for promotion so the product can be advertised and customers can get to know the product. The market introduction will be the most difficult stage for the Skinny Snicker Bar because the majority of money will be spending on advertising and promoting the product. In this life cycle of the product we are not expecting any industry profit at all. The company will be focusing on making the product known and gaining customer preference. After a year of launching the product, we are expecting for the Skinny Snicker Bar to be in the market growth stage. In this stage, we will be lowering the price of Skinny Snicker Bar to $ 1.50 for each bar. This will give the company an industry profit and help raise the sales. By lowering the price, the company is also making it difficult for any competitors to try to enter the market at a lower price. Skinny Snicker Bar is projected to stay in the market growth for two to three years. Even thou our industry profit might lower at the end of the market growth; we decided not to raise the price because when we enter the maturity stage the competition will be more aggressive. After the market growth stage, the company should be

It provides the consumer with fewer calories by creating a dark chocolate based bar along with caramel inside that contains less sugars giving the customer the ultimate great tasting candy bar that they can indulge without the guilt of the calorie overload that a regular snickers bar would contain. As we introduce this product into the market our focus would be to introduce the bar into stores that focus on healthier living like Sprouts, Whole Foods, Vitamin shops, and so forth. Focusing on a marketing segment allows us to develop the product before placing it in the mass market. We would create an awareness by having a representative set up a display area in the front of the store near the checkout area, doing this allows the customers that are standing in line glancing at all the other convenient products placed by the register to give the skinny snickers a glance, at that point in time the window of opportunity opens to the representative to introduce the product and give insight into the new