Hershey’s Marketing Campaign Strategies. For a well-known firm like Hershey’s, we wonder what secrets it has for the success of the business. Here we will know Hershey’s Marketing Campaign Strategies.
A short history about Hershey’s
Hershey’s is a brand of chocolate and candy. It is the flagship product of The Hershey Company. It is the best selling candy bar in the United States with $2.2 billion in annual sales. The Hershey’s Milk Chocolate Bar was first introduced in 1900. Hershey’s Kisses were introduced in 1907.
Hershey’s Branding Strategies
The Hershey Company has used several marketing strategies to promote its products. The most recent example of this campaign was the launch of Hershey’s Milk Chocolate with Reese’s Pieces Candy Bar in March 2012. The following are some of the marketing strategies that have helped the company achieve success.
As part of its branding strategy, the company uses a variety of media channels. To reach out to existing and potential customers. One example of this was its use of new online media platforms. Such as Facebook, Twitter and YouTube to educate consumers about some aspects of its business operations. Further, as to how cocoa beans are harvested and how many people work in the factory that packages its products. The company has also used traditional media channels such as television advertising, magazine ads, radio and print ads to promote its products.
Hershey’s Pricing Strategies
From time to time, Hershey’s has offered various discounts on products. Such as Milk Chocolate Bars through various discount programs. Just as Extra Bucks Program and Points Program to increase sales during non-peak periods and increase customer loyalty during peak periods. In 2009, Hershey’s introduced a new discount program. Thus, offers five points for every dollar spent on purchases to help offset higher commodity costs that year due to increased demand for chocolate products resulting from low unemployment rates and other economic factors.
Hershey’s Product Line Extensions
In order to increase revenues from existing customers, Hershey’s has developed several products in addition to its flagship product line which includes Milk Chocolate Bars, including Reese’s Peanut Butter Cups, Kit Kat Bar and Twizzlers Strawberry Licorice Twists among others. These product extensions help to maintain interest among existing customers which helps them remain loyal to the company when it comes time for them to make a purchase decision on their favorite type of chocolate bar or candy bar product line extension or any other type of product offered by the company.
Hershey’s Global Expansion Strategies
In order to expand its market reach and increase revenues, the Hershey Company has entered into several licensing agreements with other firms in foreign countries such as Mexico, Canada, the United Kingdom, Ireland, Germany and other European countries. These licensing agreements will help boost the sales of the company’s products in overseas markets.
Hershey’s Customer Relationship Management Strategies
Hershey’s is a recognized brand name in the United States. It has a well-established distribution system and a strong marketing campaign. The company enjoys good customer relationships with retail stores and other customers as it has been able to establish good relations with them over the years.
Hershey’s has used a variety of approaches to build and maintain its customer relationships over the years. One example of this is its use of sales representatives to call on customers and offer them information about new products that are being introduced into their market areas. The sales representatives also provide customers with information about pricing and discount programs that may be available for their products at the time of purchase.