Hershey’s Marketing Mix Strategy
Hershey is a food company that manufactures chocolates and sugar-based confections such as cakes and cookies. Since its formation, it maintained a steady expansion that gave it an added advantage of being recognized as the world’s largest chocolate producer. This continuous expansion attributes to its key strategies, with the Marketing Mix being its dominant tactic. The Marketing Mix is a designed blend of favorable elements for the marketing plan of a given product. Hershey company uses the Marketing Mix strategy that includes four components: product, price, place (distribution), and promotion.
Product
The products manufactured by Hershey are of different sizes and shapes and packed in a very appealing manner to many people. Furthermore, Hershey manufactures products that are said to contain an emergency nutritional value that is healthy for growing children. Moreover, during World war (II), the chocolates were highly consumed by the soldiers since they could hardly melt in the tropical heat. They were also tasteless that could not give an urge to be frequently consumed and destruct the soldiers during work.
Price
The price of Hershey’s products slightly increased since the company targeted a working-class urban population. There was a high demand for the products, and many preferred purchasing goods from the company because if its brand name and the products had unique characteristics. However, the company advertises the products online and therefore included the delivery charges. Moreover, many people prefer purchasing a single item instead of buying a full package since the price of an available item tends to be lower than the price of a complete package.
Place (distribution)
Hershey company is across many cities in the world and its products available worldwide. However, Hershey’s products are available in many places, such as groceries, petrol stations, hospitals, bus stations, and many more places. Moreover, Hershey, being introduced in many cities worldwide, giving it an added advantage of having a reliable network distribution worldwide. Nevertheless, Hershey became the Cadbury manufacturer in the United States when he bought the American Cadbury promotion. He also partnered with other companies that produced non-confections products, and Hershey itself produce popcorns as a non-confection product.
Promotion
Hershey uses several media channels such as TV ads, magazine ads, radio ads, and other social media platforms to promote its products. On TV, we can see a cute child playing with the mother. The ad emphasizes how almond has helped in the growth of the child. Moreover, Hershey offered trips and tours to the public as another method of promoting itself. However, Hershey’s promotions aim to fulfill the company’s mission that the products manufactured are delicious and highly nutritious. Additionally, Hershey’s two methods in promotion make the company well known and gain acceptance amongst its customers.
Conclusion
In conclusion, marketing mix strategy is used by many companies to apprehend the necessities of their consumers. However, the marketing mix strategy helps in the attainment of a company’s goals and objectives. For many years, Hershey Food Company is known as the largest chocolate manufacturer in the world that uses marketing mix strategy elements (product, price, place, and promotion) to achieve its goals and objectives and respond to competition from other companies. Therefore, the companies that tend to pose competition against Hershey need to start adapting the secrecy of marketing mix strategy used by Hershey in achieving its company goals and objectives.