Hershey Case Study Business Project
Introduction
Over the past decade, global food industry has become very competitive. Nonetheless, the food industry continues to witness substantive growth due to factors like technological advancements, population/market growth, improved cold chain facilities, and streamlined manufacturing processes. According to (Yu, 2020), the global food industry is highly consumer-driven with a multi-dimensional network. Globally, this sector attracts many investors. Thus, food production and packaging needs to continue being more customer friendly. Consumer wellness and health is the key attribute to consider in good production (Burlacu, Bodislav, & Radulescu, 2018). In this essay paper, The Hershey Company, a global food company will be used to analyse the ongoing trends and marketing strategies in the food industry.
Name of the Global Brand and Overview
The Global Food Company to analyse in this paper is Hershey Foods. Founded in 1849, Hershey Foods is a U.S. based food manufacturer, headquartered in Hershey, PA; that operates globally in over 90 countries. The company is ranked high in the U.S. confectionery market (Cooper, 2013). Hershey Foods main product groups include mint and gum refreshment products, chocolate and confectionery products, and pantry brands such as beverages, baking ingredients, and toppings. With more than 80 brands globally, Hershey remains among the top competitive players in the international food chain. Among its famous brands include Hershey’s Kisses, Brookside, Hershey’s Reese’s, Ice Breakers, and Jolly Rancher (Williamson, 2018). Hershey Foods engages in diverse activities, including manufacturing, sales and marketing, distribution, and packaging of its diverse chocolate and sugar confectionery products. As at 2019, Hershey had employed over 21,000 people globally. In terms of revenue, Hershey enjoys over $783 USD from its core business activities both domestically and internationally. Nonetheless, Hershey Foods has always been committed to operating sustainably, ethically, and fairly.
Food Industry and the Hershey’s Main Competitors
The food industry relies on production and distribution (Williamson, 2018). However, production in the food sector begins with the filed workers, then transported to the industries for production. Thereafter, the produced food products are distributed as ordered into the market. Besides, the global food industry, where Hershey….Continue Reading….