Cacaitos works with Colombian farmers and has a farm of their own to cultivate fine cacao beans used for chocolate products. Having successfully sold their raw goods, they would like to venture into their chocolate bars and couverture. Their chocolate bars have been selling in small-scale stores in the GTA and wanting to expand market research to understand better the industry is needed. Research on the sector is also necessary to realize growth factors, competitive analysis to know how to differentiate in the marketplace, target market identification, distribution and promotions strategies.
A major focus is understanding the difference between mass-market chocolate production (Chocolatiers) and Bean 2 Bar production (Chocolate Makers). Cacaitos products differentiate based on flavour and chocolate production. They want to explore target audiences where their product will be recognized for its uniqueness in taste and production, commitment to sustainability and limited supply due to quality investment in their processes. When we explore research, we will keep in mind that a vertical integration model is always the goal for the business and that looking at the journey from planting to end-user will develop the points of opportunity.
Secondary Research was completed to uncover key trends/stats in the chocolate market with a focus on the bean to bar sector. A detailed competitive analysis was completed to understand if any gaps exist in the marketplace and the current state of the market. Target markets were developed to help C.A Tradde Inc. understand who to target based on geographical, demographic, psychographic and behavioral traits. Finally promotions and branding suggestions were provided to aid in resonating and reaching the desired target markets.
Funding: RBC Funded