A brand, as defined by Woods (2000), refers to a name, sign, term, design, symbol, or some combination of these, which is used to identify the particular goods and services of the seller. It assists to differentiate the products of one seller from those of its competitors. As per the tenets of the branding theory, the company has named its brand as “Dark Delight”. It has followed a policy of naming all its brands in a manner that they end with the registered trademark Delight. This new brand bears the logo of eat right to stay light. This is used to communicate the nutritive aspects of this brand and its unique fat free attributes.
The market segment comprising of American consumers is increasingly becoming more health conscious than ever before. They continually look for and yearn for products that are tasty, appetizing, and score high on the health aspect too (Hoffmann, 2010). Research has shown that the billion dollar U.S. chocolate industry has been witnessing a paradigm shift towards those brands which offer premium products. The focus is now shifting away from the mass products which are aimed at the general market. Data published by the market research publisher Packaged Facts shows that the aggregate growth rate for the market segment of premium chocolates has been 20% on an annual basis since the year 2001 while during the same time period, the overall chocolate market grew at a meager rate of 3.9% only (Yara, 2006). It is this fast growing market segment of the entire target market which the premium chocolate brand dark Delight seeks to tap the potential of. This market segment presents a wide range of opportunities for the company and accordingly, the brand has been directed at this target market which is in the growth stage.
In line with the concepts of niche marketing and brand differentiation, the brand has been customized to cater to the tastes and requirements of the two niche segments (when the market is segmented on the basis of demographic variables) of the target consumer market – Lite Dark Delight, which is the diet version to meet the needs of the figure conscious youth generation as well as Dark Whole Delight, which has been mainly targeted to cater to the needs of the aged population, who can consume these products as substitutes for their meals. This variant is whole some and appetizing compared to the diet version which is light.
There is stiff competition to the brand from various Multi National players including Mars, Hershey’s, and Cadburys to name a few. As such, the company has to differentiate the brand from its competitors and carve a niche for itself in the minds of the consumers.