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Introduction

Beryl's is a leading chocolate company in Malaysia that uses high quality ingredients like cocoa beans from Ghana. Through research and development, Beryl's offers over 100 varieties of chocolate. The company has a presence in India dating back to 1948 and is a dominant player in the chocolate market through brands like Dairy Milk and Five Star. Market research revealed that snacks often act as meal replacements and successful snack brands contain ingredients like cereal, wafer, biscuits, peanuts and fruit. To grow its market share in snacks, Beryl's developed a new product called Fuse by fusing chocolate with popular snacking ingredients after testing over 250 combinations.

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Mohamad Ismail Ambiah
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529 views

Introduction

Beryl's is a leading chocolate company in Malaysia that uses high quality ingredients like cocoa beans from Ghana. Through research and development, Beryl's offers over 100 varieties of chocolate. The company has a presence in India dating back to 1948 and is a dominant player in the chocolate market through brands like Dairy Milk and Five Star. Market research revealed that snacks often act as meal replacements and successful snack brands contain ingredients like cereal, wafer, biscuits, peanuts and fruit. To grow its market share in snacks, Beryl's developed a new product called Fuse by fusing chocolate with popular snacking ingredients after testing over 250 combinations.

Uploaded by

Mohamad Ismail Ambiah
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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INTRODUCTION At Beryls its all about delivering the best chocolates in Malaysia.

They are ensuring that their chocolates retain the same great taste every times, they use only the very best ingredients. These include beans from Ghana, a globally recognized source of the very best cocoa beans. Our other ingredients receive the same care and attention to detail. But the best materials are only one piece of the puzzle. To ensure that the taste of Beryls Chocolates is distinct and of the same high quality every time, they constantly research and develop new manufacturing methods and products. To that end, Beryls Chocolate today offers more than 100 varieties of chocolate to suit your every mood and desire. COMPANY BACKGROUND Beryl's presence in India dates back to 1948, when the parent Beryls Schweppes set up a wholly owned subsidiary Beryls Fry (India) Ltd. Cadbury, a subsidiary of Beryls Schweppes is a dominating player in the Indian chocolate market with strong brands like Dairy Milk, Five Star, Perk, Gems, etc. Dairy milk is the largest chocolate brand in India. Chocolates & Confectionery contribute to 75% of Berlys turnover. Beryls also has a strong brand Bournvita in the malted health drink category, which accounts for 24% of turnover. Beryls was originally incorporated as a wholly owned subsidiary of Beryls Schweppes Overseas Ltd (CSOL) in 1948. The companys original name was Beryls Fry (India) Ltd. In 1978, CSOL diluted its equity stake to 40% to comply with FERA guidelines. In 1982, the name was changed to Hindustan Cocoa Products. The parent holds over 90% of the equity capital after the first open offer. A second open offer has been made to buyback the balance shareholding, after which the company would operate as a 100% subsidiary of Beryls Schweppes Plc. Over the years, the company attempted several diversification in food category, albeit with little success. In 1986, Beryls forayed into biscuits with Beryls Butter, Glucose and Bournvita brands. The business however, could not take off and was discontinued 3-4 years later. In 1989, Cadbury diversified into ice creams with Dollops and Lopstop brands, which were sold off to Brooke Bond in 1994.

Market research is a process designed to link managers to consumers through information. It is used to identify opportunities and make better informed decisions about products which have future market potential. Market research has revealed that snacks play more of a functional role than one of pure indulgence: they are often a meal substitute. Research also shows that successful snack brands in the confectionery category tend to have more 'foody' values and often contain ingredients such as cereal, wafer, biscuits, peanuts and fruit to break up the chocolate delivery. Beryl's philosophy is to continue as a driving force in the confectionery market, and thus constantly analyze its offerings for consumers. The core objective of Beryl's innovation program is to generate incremental volume for the company and achieve the vision of market leadership in every segment in which it operates. The role of innovation is critical as it allows Cadbury to develop ahead of its competitors in those areas of the market which are new or growing. NEW PRODUCT DEVELOPMENT Beryls set out two objectives for the development product of Fuse: to grow the market for chocolate confectionery to increase Beryl's share of the snacking sector.

The 'Fuse' concept was developed after market research identified the growth of snacking and a definite gap in the market for a more chocolate snack. A number of ingredients were devised and tested following a survey which questioned consumers about their snacking habits and preferences. A research and development team was then asked to develop a number of product recipes which addressed the needs expressed by consumers. Not all products successfully emerge from the product development phase. Research and development involves combining various ingredients to develop potential new products. Considerable development time was spent on Fuse, carefully engineering the

ingredients in order to deliver the right balance of chocolate, food elements and texture. More than 250 ingredients were tried and tested in various combinations before the recipe was finalized. Any new product in the snacking sector must establish points of difference from existing products within the market - thus creating a unique selling proposition (USP) i.e. a product with unique appeal which is not shared by any of its competitors. Whereas other confectionery snacking products focus primarily upon ingredients, with chocolate used only to coat the bar, the product developers decided to use Beryl's chocolate to 'Fuse' together a number of popular snacking ingredients such as raisins, peanuts, crisp cereal and fudge pieces.

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