abhishreshthaa
Abhijeet S
The Hershey Company (NYSE: HSY), known until April 2005 as the Hershey Foods Corporation[6] and commonly called Hershey's, is the largest chocolate manufacturer in North America.[7] Its headquarters are in Hershey, Pennsylvania, which is also home to Hershey's Chocolate World. It was founded by Milton S. Hershey in 1894 as the Hershey Chocolate Company, a subsidiary of his Lancaster Caramel Company. Hershey's candies and other products are sold worldwide.[7]
Hershey's is one of the oldest chocolate companies in the United States, and an American icon for its chocolate bar. It is one of a group of companies established by Milton Hershey. Other Milton Hershey established companies include Hershey Trust Company, and Hershey Entertainment and Resorts Company, which runs Hersheypark, a chocolate-themed amusement park, the Hershey Bears minor professional hockey team, Hersheypark Stadium and the GIANT Center. Most of the employees for the Factory come from the surrounding counties,towns and boroughs, such as Lebanon County, Hummelstown, South Hanover, and Harrisburg.
Hershey is a leader in the world of chocolate. As a brand and a Hershey’s products are one that has been around for many years and is easily recognizable packaging from all around the world. However, a few years back Hershey marketing team forgot an important rule that the consumer needs reminding from time to time. Most consumers tend to forget about products if they are not aware that they are available. A hard lesson for Hershey executives they had to face that they were losing ground with their consumers. The competition is fierce and Mars is rapidly gaining popularity with consumers. Hershey is attempting to turn things around with a new approach to management and implementing an increase ad spending, new products, and in-depth research into the consumer taste and demands. Hershey’s is getting serious about rebuilding its image as the chocolatier of choice (Mirhaydari, 2008). Hershey has recognized the error of past advertising the plans to implement new concepts in products, look at new approach to advertising, and distribution.
The consumer today is intelligent and wants more for their dollar. During Hershey’s research, a discovery made that consumer demands more value which includes health benefits to accompany the sweet treat. Hershey has recognized this with the introduction of Special Dark, which Hershey experienced an increase in sales for 2007 of $44 million which has been contributed to the research and marketing of the health benefit properties in Dark Chocolate (York, 2007). As another way Hershey and other giant companies are answering the call for more, have started to blur the lines between candy and snacks by introducing meal replacement bars. In today’s hectic schedules between work, family, and school, consumers are excited by the prospect of a bar nutritionally balanced as a meal but offer the sweet taste of Hershey’s. Burt Flickinger, managing director of consulting Reach Marketing states, “The brilliance of that strategy is that candy and snacks are becoming substitutes for meals, especially for high school and college-age kids and time-starved working adults” (Neff & Thompson, 2001). With the introduction of the Smart Zone, Hershey is on the verge in reaching their marketing goals.
Hershey has become a leader in the field of co-branding and collaborating with other companies to create new products and as another way to advertise to strengthen the brand. The Artisan Confections Company, a subsidiary of Hershey combined forces with Starbuck to create a product line with suitable qualities for both brands. By combining the select chocolate with an authentic Starbuck flavors, truly blending the best parts of two brands to strengthen the marketing ties to the consumer and brand loyalty (Prepared Foods 2008). Hershey is attempting to associate the brand with other companies to strengthen the visibility in the market while regaining a foothold to re-establish brand loyalty among the consumers. With increased advertising by association with other corporation products such NASCAR, the Olympics, and summer’s blockbuster movie Batman, Hershey has increased their visibility in the market place. In addition, Hershey is associating chocolate with our good childhood memories to boost the sale and awareness of core products to the younger population that is maturing. As Hershey rolled out the new advertising for the “Pure” Campaign, which focuses on reestablishing the emotional side of chocolate, by introducing the idea of emotions and connecting them with a product by association and memories of the consumers. The initial targeted demographic will be the young adults, 18- to 34-years of age (Beirne 2008). Another sign of Hershey is coming on strong, with the help of Brad Paisley, offering a change to win a private concert. Reaching out to the consumers as never before, Hershey is determined to understand and meet the needs of their consumers.
With innovations and focus, Hershey’s strategies are addressing their revenue losses have opened up many avenues to explore. Hershey has taken a fresh approach in the identifying areas of marketing and the steps to match strategies that will isolate segments for improvement. With the on-line direct distribution locally in the United States already available and have plans to open the venue worldwide to improve their product availability to all areas. This will increase the availability of specialty products to the individual consumer as well. With recognition of their past shortcomings in marketing, Hershey is offering more products that the market is seeking, starting to spend more in advertising dollars, and revamping distribution with on-line orders for specialty items and vendors to meet the needs of their consumers.
Hershey's is one of the oldest chocolate companies in the United States, and an American icon for its chocolate bar. It is one of a group of companies established by Milton Hershey. Other Milton Hershey established companies include Hershey Trust Company, and Hershey Entertainment and Resorts Company, which runs Hersheypark, a chocolate-themed amusement park, the Hershey Bears minor professional hockey team, Hersheypark Stadium and the GIANT Center. Most of the employees for the Factory come from the surrounding counties,towns and boroughs, such as Lebanon County, Hummelstown, South Hanover, and Harrisburg.
Hershey is a leader in the world of chocolate. As a brand and a Hershey’s products are one that has been around for many years and is easily recognizable packaging from all around the world. However, a few years back Hershey marketing team forgot an important rule that the consumer needs reminding from time to time. Most consumers tend to forget about products if they are not aware that they are available. A hard lesson for Hershey executives they had to face that they were losing ground with their consumers. The competition is fierce and Mars is rapidly gaining popularity with consumers. Hershey is attempting to turn things around with a new approach to management and implementing an increase ad spending, new products, and in-depth research into the consumer taste and demands. Hershey’s is getting serious about rebuilding its image as the chocolatier of choice (Mirhaydari, 2008). Hershey has recognized the error of past advertising the plans to implement new concepts in products, look at new approach to advertising, and distribution.
The consumer today is intelligent and wants more for their dollar. During Hershey’s research, a discovery made that consumer demands more value which includes health benefits to accompany the sweet treat. Hershey has recognized this with the introduction of Special Dark, which Hershey experienced an increase in sales for 2007 of $44 million which has been contributed to the research and marketing of the health benefit properties in Dark Chocolate (York, 2007). As another way Hershey and other giant companies are answering the call for more, have started to blur the lines between candy and snacks by introducing meal replacement bars. In today’s hectic schedules between work, family, and school, consumers are excited by the prospect of a bar nutritionally balanced as a meal but offer the sweet taste of Hershey’s. Burt Flickinger, managing director of consulting Reach Marketing states, “The brilliance of that strategy is that candy and snacks are becoming substitutes for meals, especially for high school and college-age kids and time-starved working adults” (Neff & Thompson, 2001). With the introduction of the Smart Zone, Hershey is on the verge in reaching their marketing goals.
Hershey has become a leader in the field of co-branding and collaborating with other companies to create new products and as another way to advertise to strengthen the brand. The Artisan Confections Company, a subsidiary of Hershey combined forces with Starbuck to create a product line with suitable qualities for both brands. By combining the select chocolate with an authentic Starbuck flavors, truly blending the best parts of two brands to strengthen the marketing ties to the consumer and brand loyalty (Prepared Foods 2008). Hershey is attempting to associate the brand with other companies to strengthen the visibility in the market while regaining a foothold to re-establish brand loyalty among the consumers. With increased advertising by association with other corporation products such NASCAR, the Olympics, and summer’s blockbuster movie Batman, Hershey has increased their visibility in the market place. In addition, Hershey is associating chocolate with our good childhood memories to boost the sale and awareness of core products to the younger population that is maturing. As Hershey rolled out the new advertising for the “Pure” Campaign, which focuses on reestablishing the emotional side of chocolate, by introducing the idea of emotions and connecting them with a product by association and memories of the consumers. The initial targeted demographic will be the young adults, 18- to 34-years of age (Beirne 2008). Another sign of Hershey is coming on strong, with the help of Brad Paisley, offering a change to win a private concert. Reaching out to the consumers as never before, Hershey is determined to understand and meet the needs of their consumers.
With innovations and focus, Hershey’s strategies are addressing their revenue losses have opened up many avenues to explore. Hershey has taken a fresh approach in the identifying areas of marketing and the steps to match strategies that will isolate segments for improvement. With the on-line direct distribution locally in the United States already available and have plans to open the venue worldwide to improve their product availability to all areas. This will increase the availability of specialty products to the individual consumer as well. With recognition of their past shortcomings in marketing, Hershey is offering more products that the market is seeking, starting to spend more in advertising dollars, and revamping distribution with on-line orders for specialty items and vendors to meet the needs of their consumers.