Success Case Study: Magnum Chocolates - Leveraging reputation to create a promising brand extension
Success Case Study: Magnum Chocolates - Leveraging reputation to create a promising brand extension, is part of GlobalData's Successes and Failures research. It examines the details of and reasons behind the success of Magnum Chocolates in the UK, a new range of premium chocolates from popular ice cream brand Magnum . It delivers the critical what?, why?, and so what? analysis to teach you crucial lessons that increase your chances of launching successful products.
Magnum is well-known for its ice cream range but has chosen to release a premium line of chocolates. This makes sense since the confectionery market in the UK registered a CAGR of 2.2% during 2010-15, and this is forecast to grow, with a CAGR of 2.6% predicted during 2015-20, creating strong opportunities for Magnum. Within the confectionery market, the largest segment in terms of overall volume is chocolate, accounting for a 68.2% share in 2016. Using its recognition as a fashionable brand, Magnum has succeeded in the chocolate market.
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