Analysis of the marketing strategy behind Hershey's "Swoops".
Written in 2004; 2,990 words; 14 sources; MLA; $ 88.95
Paper Summary:
This paper begins with a brief description of Hershey's new chocolate product, "Swoops", then discusses Hershey's current market position, and goes on to on to analyze the specific nature of the role envisaged for "Swoops" TM within the company's portfolio of brands.
From the Paper:
"New Product Development: The process of idea generation and screening at Hershey?s, as mentioned earlier, takes place within the ambit of its IBI or fact-based approach to decision making, as well as within the context of the corporate goals of driving profitable core growth through fuelled but reallocated brand spending, captured price realization, and building a competitively advantaged business. In other words, Hershey's believes that its transformational growth opportunities lies in leveraging its existing core competencies and competitive advantages in category-defining iconic brands such as Hershey's milk chocolate, Reese's peanut butter, Almond Joy coconut, and York mint. Thus, the direction for new product idea generation and screening at Hershey's is that all concepts must meet the preceding criteria besides ensuring the fulfillment of consumer needs for taste, convenience and/or better-for-you (healthier) products (Lenny, Feb. 2004). To sum up so far, new product development in Hershey's must meet the criteria of affordability; captured price realization; leveraging of core competencies and existing competitive advantages in iconic brands; fulfillment of consumer needs for taste, convenience, and better-for-you products; and identification of opportunities to further grow Hershey's share of the confectionery and overall snack market."
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