segment of Hershey’s business.
Perceptual maps prove to be useful for a few different reasons, such as assessing strengths and weaknesses relative to competing brands based on certain criteria that is important to the customer. It helps to identify the competitive advantage for the brand. It identifies market opportunities signified by empty spaces on the map. It also shows how ideal points shifts as the market matures thereby helping a company shift its positioning in order to retain or gain a competitive advantage (Bagaria, 2019). As a result, product-positioning maps offer strategic information to corporate executives and marketing managers that are assigned with the role of strategic planning (David & David, 2017). Ultimately, this information will aid Hershey in determining and assessing product and brand positioning. I personally am not a fan of chocolate, so I do not prefer any of the products that Hershey, Mars or Nestle has to offer.
Step 2:
Product-positioning Map for Hershey Company
Healthy versions of junk food favorites can be great alternatives to the real deal, with today’s society gearing more towards healthy snack food it is good to know the nutrition content in popular products. According to Lisa Defazio a registered dietitian, sugars, calories, and fat are the best numbers to look at to determine how “healthy” candy is (DiNuzzo, Rocketto, 2017). Note that it is difficult to distinguish health candy, so these choices are based on low to no fat. After researching and plotting the competitor’s brands including pricing/ quality and calorie/ nutrition content, Hershey can use this information to find and ideal position for the brand. A place next to an existing brand is to be selected if and only if their market offering is weak and it is easy to win their customers. Other than that, Hershey should attempt to use this information to differentiate themselves in the market by zeroing in on their healthier products. This is the consumer’s mind will have them stand out.
References
Bagaria, A. (2019 July 21). Product and Brand Positioning Map. Branding Essentials/ Marketing Essentials. Feedough. Retrieved from: https://www.feedough.com/product-and-brand-positioning-map/
DiNuzzo, E. Rocketto, L. (2017 October 20). The Healthiest Halloween Candy, Ranked From ‘Worst to ‘Best’ for You. Insider. Retrieved from: https://www.insider.com/healthiest-halloween-candy-2017-10
