Buy essay on Hershey’s marketing strategy

The aim of this essay is to discuss the definition of marketing and to analyze whether Hershey’s marketing strategy correlates with this definition and the role of marketing which it plays in business today.
The definition and concept of marketing are the following:
“marketing is a process of planning and creation of a product and service and the sale of the product to the target customer group on the basis of the analysis of customers needs and interests, on the one hand, and promotion and pricing policy of the organization or individual selling the product or service, on the other hand. In today’s market the 4p’s (pricing, promotion, place, and product) have to be in consideration to market a good product.”
For the analysis of marketing strategy I have chosen the product – chocolate and the company producing chocolate – Hershey’s. The Hershey Company is the largest producer of quality chocolate in North America and a global leader in chocolate and sugar confectionery.

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The company’s confectionary products are marketed in over 50 countries. The company markets its products under brands such as Hershey’s, Reese’s, Hershey’s Kisses, Kit Kat, Almond Joy, Mounds, Jolly Rancher, Twizzlers, Ice Breakers, and Mauna Loa, as well as Take 5 candy bar and Hershey’s Cookies. Today, the company leads the American market with its brands, accounting for 38 percent of all chocolate sold in the US. The Hershey Bar and the Hershey Kiss, specific brands most readily identified with Hershey, retain an old-fashioned classical brand. The products sold overseas are often adjusted to regional tastes. Hershey’s has been extending the market recently and adopted new marketing strategy in 2008: higher brand-building support, including advertising, quality merchandising, enhanced retail coverage, and new chocolate products within the premium and trade-up segments.
The understanding of marketing ideas at Hershey’s indeed correlates with the definition of marketing since the company offers differentiated pricing (different price segments), promotion (advertising and merchandising), place (retail coverage) and product (production and advertising of new kinds of chocolate). In my opinion, the success of Hershey’s is to a large extent the result of its new efficient marketing strategy.