Monkey Snacks final report
Monkey Snacks final report

Monkey Snacks final report

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  • Pages: 4 (1798 words)
  • Published: November 9, 2018
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This final report compiles every aspect of the report to give Monkey Snacks an overview of the different chapters and segments and come to a final decision. This is vital as Monkey Snacks has many decisions whish must be made and therefore all the information in this report allows them to do so. This final report should help to end the company’s economic decline and begin to increase brand image, sales and most important of all profit. Without a final report this entire report would be a waste and would not benefit Monkey Snacks at all.

Where the product is concerned, there are many factors that influence the final appearance, design and contents of the new crisps. This report has been very thorough when researching and looking at how an ideal product can be formed to give Monkey Snacks the best possible chance in having a new improved product, which will hopefully meet their target audiences’ requirements and end the slump in sales and profits. Quality Deciding the quality can be very difficult as high and low quality products both have a variety of advantages and disadvantages.At present Monkey Snacks crisps are of a fairly low standard, which may deter customers and give the impression that Monkey Snacks crisps aren’t very good, which would decrease profits remarkably. Although if Monkey Snacks were to increase the quality of their product too much, this will alienate their existing target audience and therefore lower sales and profit, which is obviously not a suitable thing to do. In this case Monkey Snacks must find a suitable level in-between hig

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h and low quality, which is a medium quality product.

This should solve most problems as people will not be deterred by the low quality status, and the crisps will still be of a reasonable price, as costs will only be slightly increased. Demand of the product should also be in the middle of low and high, therefore allowing sales and profit to be made easily, by easily breaking even. Including an assured quality stamp will reinforce the present quality therefore no doubt will be present in the minds of the consumers, which could affect if they buy Monkey Snacks or not.Something Different Including something different in a product will give it a distinct advantage over competitors, resulting in an improved brand image and increased profit.

Something a little different however must be cost effective, and must attract more attention without increasing costs dramatically. Therefore to add something different to Monkey Snacks crisps, the shape could be changed into an outline of a monkey, to give the crisps a playful, fun image adding something different to the product.This also shouldn’t be too expensive, if the same weight of crisps were used, costs should be roughly the same. This will successfully fulfil the criteria of adding something different and improve Monkey Snacks sales and profit.

Flavour This is obviously a crucial part of the report, as deciding which flavour to improve is dire to Monkey Snacks and must be considered carefully. If the wrong flavour was chosen, Monkey Snacks could further their financial decline.Salt and Vinegar has been chose

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as the most suitable flavour to improve for many reasons. Salt and vinegar proved to be the most liked flavour in both the taste test and questionnaire conducted, meaning popularity is high and Monkey Snacks target audience in theory should prefer this flavour above others and therefore buy it. A very large percentage of 45% of overall people asked preferred salt and vinegar to any other flavour, therefore sales should be very high when this product is re-launched.This flavour was also chosen, because current sales of this flavour are very low at a mere 5000 sales in 2001, and over a period of 5 years has the lowest total sales.

Therefore improving this flavour would increase sales dramatically, and hopefully boost total sales for the next year. Both these reasons support the decision and will therefore result in higher sales, which will raise profits for this flavour and others by increasing Monkey Snacks general awareness and improving brand image.Other flavours were not chosen as they may have had conflicting result such as prawn cocktail which has the highest sales in the past year, yet was the least liked by the public with only 10% of people asked having it as their preferred flavour. Flavours such as ready salted would also be worth considering for improvement, as 25% of overall people asked preferred them to the other flavours and they had the next lowest total sales figures with an even smaller figure then salt and vinegar of 4,500 sales last year. Packaging There are several factors to consider when designing the packaging for crisps.

There has been much research into how the packaging should look and what should be included. Packaging is vital to Monkey Snacks launch of crisps, as this is what initially attracts a potential customer to the crisps; in this case children are very visually stimulated therefore packaging is made even more important. The packaging must be colourful as result show that this is the most popular form of packaging, gaining 70% of overall votes. Colourful packaging is also more eye-catching; therefore potential customers will be attracted to it, and want to buy it.Other leading crisp manufacturers also use brightly coloured packaging; therefore to follow the successful trend Monkey Snacks should also. This should all lead to an increase in customer attention being gained, leading to an increase in sales and profit.

Plain packaging shouldn’t be used as children will be disinterested by it, and will therefore not want to buy it leading to decreased sales and profit. The colour for Monkey Snacks salt and vinegar flavour should be blue as this is the most common colour of packaging for this flavour and therefore will be recognised easily.If Monkey Snacks were to completely change the colour of salt and vinegar to orange for example this would confuse customers and could result in lower profits. To add something distinct to Monkey Snacks crisps that will make them more fun and interesting for their target audience, a joke could be added onto the reverse of the packaging, a simple one that will amuse children. This will increase the chance of that

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