Hershey to Up Marketing Investment by 20% This Year and Next
At an investment conference in New York yesterday, Hershey Co. ceo David West outlined the confectioner’s plans to take on the bohemoth that we arise from the combination of Mars Inc. and the Wm. Wrigley Co. in the coming months. Some observers think that reinvigorated marketing may not be enough, and that Hershey’s scant international sales (14% of revenues) are a real vulnerability. Hershey has recently reiterated its resistence to a long-discussed merger with Cadbury PLC, and seems bullish about griding out additional sales in the U.S. market, where (in chocolate, for instance) it owns 43% share of the $15 billion market. In support of these efforts, Hershey has gone to school on its customers, identifying “loyal indulgers” and “engaged exploring munchers” among six core groups. Chicago Tribune The Wall Street Journal (June 18, 2008) Paid subscription may be required.Â
Tags: Cadbury PLC., chocolate, confection, David West, Hersey, Mars, merger, Wm. Wrigley