Matt and Fandy own a small business called M&F making a high quality specialist chocolate products.Their Super Peanut Slab is a national treasure. They have a very good reputation and sell their M&F Super Peanut Slabs not only from their choco-boutique on Lambton Quay where passers-by can watch the slabs being made but also, through their website, supply customers across North America and Europe.The 100gm slabs sell for $5 and M&F make about 20c profit on each.

Competition is tough from larger firms, such as Whittaker's and Cadbury's, and from boutique speciality firms, such as Wellington Chocolate Factory, but sales of Super Peanut Slabs had been growing strongly for the past five years.However, Matt and Fandy are now unhappy that sales of Super Peanut Slabs are in sudden decline and falling rapidly!Even worse, a few weeks ago they released a new product called Super Dark Brazil Slab, but while sales at first climbed strongly consumer interest suddenly declined!Sales are almost zero!M&F is in deep trouble!!Matt and Fandy ask your advice.

What has happened?Taking into account such things as the competitive environment, the product life cycle, extended marketing mix, and target market strategies, and whatever else comes to mind from MARK101, what actions do you recommend to increase sales and profitability of BOTH these products?Justify your strategy.