Market entry strategies
Market entry strategies
——from a case study of Hershey
1 Introduction
When talking about Hershey,people will think of chocolate. Hershey is the largest manufacturer of chocolate and candy in North America,which had long history of 105 years.Now Hershey's chocolate sold around the world.
From the case study, we found that hershey met difficults when entered into Australia market ,and the same things also happened in China market.They withdrawn from the market and return after strategic recombination.This article is talking about the problems we should pay attention to and strategies to develop market.
2 Previous preparation
2.1 marketing research
Before entering into new markets,marketing research is a important step.It can help company to understand their competitors,including condition, trend, strength, disadvantage etc. From that, it can make a strategy exactly.And the content of the research should include:
1) taste
It is important for food item specially.View on taste, it's vary from person to person. Not only the difference between two countries people,but also the difference between customer groups ,like children tastes sweeter than adult.so it determine whether the formulation should be change and how should it change.This is one of the cause of failure in Australia and China at first.
2)competition
Each market have their competitors,Knowing oneself and each other is an important prerequisite for competition.That mean, we should grasp ours strengths and weakness,master competitors market targeting and do marketing orientation exactly.
For example China market.
The chart shows that the awareness of each branch chocolates in China.obviously,the most high profile product is Dove over 90 per cent in chocolate market.The second one is Leconte about 70 per cent ,and the popular of Cadbury is similar to Nestle almost 60 per cent.But the profile of Hershey just only 28 per cent in China market.From this survey, we can found the brand
——from a case study of Hershey
1 Introduction
When talking about Hershey,people will think of chocolate. Hershey is the largest manufacturer of chocolate and candy in North America,which had long history of 105 years.Now Hershey's chocolate sold around the world.
From the case study, we found that hershey met difficults when entered into Australia market ,and the same things also happened in China market.They withdrawn from the market and return after strategic recombination.This article is talking about the problems we should pay attention to and strategies to develop market.
2 Previous preparation
2.1 marketing research
Before entering into new markets,marketing research is a important step.It can help company to understand their competitors,including condition, trend, strength, disadvantage etc. From that, it can make a strategy exactly.And the content of the research should include:
1) taste
It is important for food item specially.View on taste, it's vary from person to person. Not only the difference between two countries people,but also the difference between customer groups ,like children tastes sweeter than adult.so it determine whether the formulation should be change and how should it change.This is one of the cause of failure in Australia and China at first.
2)competition
Each market have their competitors,Knowing oneself and each other is an important prerequisite for competition.That mean, we should grasp ours strengths and weakness,master competitors market targeting and do marketing orientation exactly.
For example China market.
The chart shows that the awareness of each branch chocolates in China.obviously,the most high profile product is Dove over 90 per cent in chocolate market.The second one is Leconte about 70 per cent ,and the popular of Cadbury is similar to Nestle almost 60 per cent.But the profile of Hershey just only 28 per cent in China market.From this survey, we can found the brand