Factors affecting consumers buying confectionery products (Chocolate)

Abstract

Meghna Group of Industries started their business in 1976. They have been running their business for more than 40 years now. Over the years they have gained trust of the consumers through their brands like Fresh, Pure and No.1 and they are one of the biggest and most competitive conglomerates in Bangladesh. Now they are planning to start launch new products in confectionery sector. The purpose of these report is to find the factors which affect the consumers when they go for buying confectionery products and which of the factors actually affect and which one does not. In this report an overview of the organization is given. Then the methodology of the survey is given. First, I wrote an overview of the organization. Then the methodology was given like how I completed my research. A short industry analysis is given in the report to give a shot summary of which companies are selling the most, who are the major players and all. Then a survey was conducted. To figure out the factors that affect the most, SPSS analysis was done for the purpose of generating the results of factor analysis, regression, coefficient and many other things. These were done to find the core factors. It would’ve been better if there were more samples and more factors added in the survey which could result in an accurate research. Local companies are getting competitive and there is foreign competition as well. For this reason, a few recommendations were given like what should MGI do, who should they target, what should they observe and to come with strategies of their own and all. The errors and limitations of this research are mentioned at the end of this research paper. So basically, this report is going to draw portray for Meghna Group of Industries to help them to identify the factors they should focus more on and what they should do to make big sales.