Pick a company (Thorntons) of your choice answer two question Essay

Pick a company (Thorntons) of your choice answer two question - Essay Example While it was previously characterized as a luxury brand, it is quickly loosing the perception given the recent economic conditions and the increasingly saturated market. Thorntons has thus failed to develop an edge over the competition despite being a well known brand. Thornton’s has been badly affected by the recent financial downturn. This is because of the increasing price of the raw materials that impacts the price of the already expensive product. Also the consumers are left with low purchasing power given the recent recession. This is probably one reason behind the decrease in sales. The company is also impacted by change in consumer perception regarding sugar products including chocolate. With the increase in health and diet conscious public, Thorntons is negatively impacted, especially because Thorntons most important customers, which as women, are changing their attitude towards buying chocolate. Even under all this negative turn of events, Thorntons may still be able to succeed given its perception in the minds of the customers as a premium chocolate brand (Clark). Also the UK confectionary market provides a pleasant picture for chocolate makers since it is a growing market with the highest market share taken by chocolate products (Datamonitor, 15) The competition for Thorntons has also increased as chocolates such as Hotel Chocolat and Lindt take on a more aggressive stance. Thorntons, with the increase in competition, did not manage to improve upon its products. Thorntons failed to innovate with more brands and different taste (Richardson). In the recent years, Thorntons has decided to move to selling its more commercial products in super-markets (Thorntons PLC, 2). Even though Thorntons has its own retail shop, it has moved on to sell in supermarkets where customers are given a choice of different chocolates. Given that Thorntons is a