- Undisputed Marketplace Leadership
- Top-tier value creation, driven by superior performance across the business system
- Organizational capabilities and passion that compete in the present and build for the future
- Commitment to enabling and encouraging balanced, healthy lives
- Portfolio of brands that
– Delights consumer across multiple segments
– Delivers superior growth and profitability to retailers
– Is available everywhere
- Ability to transform consumer and customer desires to marketplace wins
Company Profile Year Started: February 9, 1894 Owner: Milton S. Hershey Development: It all started with a decision made by Milton S. Hershey in 1984. That decision was to make caramels with sweet chocolate as its coating. Set in Lancaster, Pennsylvania, he created his new enterprise and called it the Hershey Chocolate Company. In 1900, the company began producing milk chocolate in bars, wafers and other shapes. With mass-production, Hershey was able to lower the per-unit cost and make milk chocolate, once a luxury item for the wealthy, affordable to all.
Due to the low-cost, but high-quality of chocolate being made, the sales went up and expansions of the company went in many directions, new products were being made as well. In 1968, the company’s name changed to Hershey Foods Corporation; expanding its confectionery product lines, acquiring related companies and even diversifying into other food products. In April 2004, the company’s name changed again to The Hershey Company. Current Status: It is the largest chocolate manufacturer in North America and is known worldwide. The Hershey’s Company is still working hard to get their target audience and they are doing it without fail.
In 2002, the Hershey’s Company struggled to obtain the name of “chocolate”, that when someone says chocolate, Hershey’s is immediately thought of, just as how Coca-Cola earns the title of “Refreshing. ” To solve this conflict they started focusing solely on the pleasures of the chocolate. In 2007, the Chocolate Manufacturers Association, whose members include Hershey, Nestle, and Archer Daniels Midland, began to lobby the FDA to change the legal definition of chocolate to let them substitute partially hydrogenated vegetable oils for cocoa butter as well as artificial sweeteners and milk substitutes.
Currently, the FDA does not allow a product to be referred to as “chocolate” if the product contains any of these ingredients. Marketing Strategy: Unlike the usual Companies that go about advertising their products, the Hershey’s Company would rather advertise themselves through word of mouth; of how good their chocolates are and let their products speak for themselves. They’ve been in the Economy for quite some time and people all over the world already recognize who they are and what they sell, but that doesn’t mean that they do not advertise at all via print ads and TV commercials.
They just don’t use it that often. The most used form of the advertisement is promotional types, like “Buy Reese’s chocolates and win a free movie pass. ” They also obtain support from notable people. Sources:
- http://www. hersheys. com/
- http://en. wikipedia. org/wiki/Hershey%27s
- http://kisssomeone. com
- http://query. nytimes. com/gst/fullpage. html? res=9C02E1D61239F936A1575AC0A9649C8B63&sec=&spon=&pagewanted=all