Tic Tac Essay

1. Tic Tac mints has been in the market for a long time now. Tic Tac has rules hearts of millions of customers around the world. However, like everything else in the consumer market, Tic Tac had its share of success and failures. After the success of Tic Tac mints, many other companies have tried to bring similar product in the market. To name a few products similar to tic tacs are Breath savers, Ice Breakers, Mentos mints and Altoids. Due to the flood of new mints in the market, Tic Tac lost its position as the leader in the industry. Altoids took the title of leader from Tic Tac in the recent years. Now it’s time to reclaim the position, and in order to do that Ferrerro group has decided to rebrand the tic tac packaging. There are several
benefits of doing this.

Benefits

Introducing Tic Tac mints in new packaging will give an old product a Fresh makeover that it needs. Another advantage changing the packaging is that it will allow to accommodate current trends among consumers. In the consumer market its crucial to stay competitive, and new packaging will do just that for the company. Now there are is trend among consumers, which is attraction to an environmentally friendly product. Therefore packaging tic tac in a way which will help the environment will attract more consumers. And it would be great to keep up with other industry giants to understand the market. Researching on how other companies such as Mentos and Ice Breakers are packaging their current products, what are their strengths and weaknesses, will be highly beneficial.

Risks

Now changing the packaging will generally result in success of the company, nevertheless change could also result in disaster for the company’s future.
There are few risks associated with the changing of the packaging and here are some of those. Changing the packaging will raise a question among consumers if the product is still the same or not. I have seen this happen with multiple products. Also Tic Tac could risk losing some loyal customers who might prefer the current packaging over the new packaging. For instance Altoids has some buyers who love the product because its in a tin can instead of traditional plastic packaging. Therefore changing the way it looks and appears could have drastic impact on the market. Nostalgia plays a key role.2. Profile the Tic Tac consumer.

2. Profile of a Tic Tac consumer

Now since Tic Tac mints have been around for almost half a century, therefore it has been loved product among all age groups. Tic tac users are scattered through various age groups. Anywhere from little kids, teens, adults, and older folks, everyone enjoys Tic Tac mints. But majority Tic Tac users would be roughly 25-50 age group. Majority of Tic Tac users would belong to mid-high income bracket.

3. If Ferrero were to research changing Tic Tac packaging, how should they test the
ideas?

Now there are multiple ways Ferrero could go about testing the ideas about changing the packaging. I would suggest using Focus groups to test how well they receive the packaging. Getting their feedback on what they liked or disliked about the new packaging could agree with overall market. Now instead of releasing the newly packaged product everywhere, Ferrero should do a test run. Test the idea in a small market before releasing worldwide to compare the sales numbers. Another way to effectively change the packaging is to involve consumer in the process. Have an online contest like Lays chips to find out customers ideology. Getting an endorsement from a trending celebrity to promote the new packaging will also prove valuable to the success of Tic Tac mints.