Look at this Cadburys mega range of chocolate bars in our local newsagents. With some brands we haven’t even heard of before.
Anyone tried a Top Deck? 🤷♀️
Cadburys is 201 years old and was founded in 1824 – wow!
👏 And yet here they are leading new product development and reinvigorating a product range in a very mature market. 👏
It’s impressive, even more so in a small newsagent’s on a back street that isn’t that important in terms of footfall and exposure.
Cadburys is owned by Mondelez International.
So, this array of mixed chocolate options with Oreo, Daim and Mini Egg all sitting under the same umbrella business is an obvious way to bring their brands together and provide new interest in a mature market.
Still very clever though.
But Biscoff Lotus is a family-owned business, not part of Mondelez International and this product offering is a direct collaboration bringing two competitor-ish brands together to create something different and new for customers.
With Cadburys jumping on the recent popularity of Biscoff. This really gets me excited – tick, tick, tick!!! 🙌
Our key brand key take outs from this for smaller businesses even if you have strong product ranges that sell well are:
✅ it’s important to keep things fresh for your customers to drive continued interest and loyalty
✅ develop and invest in new product development (NPD) always and continually
✅ collaborate with people you may see as a competitor, it can be a win, win
✅ keep on top of trends and understand what your customers want – we like new and different (just don’t mess with our classics that’s a big no, no)
✅ Sit new products next to your hero cash cows because even if they don’t sell as well, they help build your long term brand, provide a point of difference and something you can talk about in your marketing
✅ be seasonal and relevant to your audience
✅ build a strong sustainable brand that allows you to easily diversify
✅ Be bold and don’t rest on your laurels.
As a brand, and business it’s vital to evolve, adapt and innovate using market and consumer insight.
Otherwise it’s too easy to fail like many of the great brands we have seen do so over the years – Blockbusters, Borders, Yahoo, Toys R Us, Nokia, MySpace, Wilko – you get the picture!
