Are you a chocolate lover? Do you tend to sneak the last kisses for yourself without anybody noticing? Have you ever wondered how the best chocolate company– Hershey’s works? In this article, we shall discuss the Hershey’s SWOT analysis.
Hershey’s SWOT analysis studies the Company itself primarily based on its strengths and weaknesses, opportunities and threats– a complete SWOT analysis of Hershey.
Keep reading to understand everything to know about Hershey. We will go into an in-depth analysis, including threats that this Company faces. It will help you better understand what your competition could be if you get into this industry.
See also: The SWOT Analysis of Nestle
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Hershey’s SWOT Analysis
Here is a complete Hershey’s SWOT analysis– everything about this super popular Chocolate and sweet goodies-producing Company.
Visit: The Hershey Company
STRENGTHS: Hershey’s SWOT Analysis
Hershey is one of the oldest and most loved chocolate companies in the United States of America. They are known for their famous Chocolate– kisses and more. Hershey’s has an impressive reputation and is quite well-known around the world.
As we already know, Hershey’s is famous for its Chocolate. The chocolate company has never focused on only one product but has tried experimenting with different products to improve what the Company has to offer to its customers.
Have a Good Number of Loyal Customers
Because of the Company’s excellent reputation among the people, it is the go-to brand for chocolates in the United States of America.
Given that the Company produces lip-smacking sweets for all sweet lovers, gaining them popularity— and increasing customer loyalty to the brand.
They Offer a Wide Range Of Products
The Hershey Chocolate Factory sells a wide range of Chocolate and sweet items, such as bars of Chocolate, kisses, and frozen treats. Because so many people have different sweet tastes, this variety lets the Company reach out to a broad spectrum of customers.
WEAKNESSES: Hershey’s SWOT analysis
Main Revenue From The United States Of America
Hershey’s primary income mostly comes from its sales in the United States. This puts the Company at risk of shifts in the country’s economy and the constantly changing customer tastes.
Hershey’s Chocolate is quite famous in the States and is consumed more than in other countries. This puts the USA at the top regarding being one of the primary sources of Hershey’s revenue.
They Don’t Have A Good Market Control
According to stats, Hershey’s operates its chocolate-making business in over 60 countries worldwide. The global market is quite significant because it is Hershey’s. Many people have noticed that the Company is losing control and power.
Their International Growth Is Slow
Hershey has a significant presence in the United States of America; over time, it has secured a place on the global market. Local competition, cultural variations, and legal restrictions all interfere with the Company’s worldwide expansion efforts.
OPPORTUNITIES: Hershey’s SWOT Analysis
Get To Expand Their Product Variety
Hershey’s does not have to stick to the limited kind of products to sell. Since they keep experimenting, they can develop new varieties of the same Chocolate, which will be liked by a different audience and attract more of their kind to increase sales.
Customization Of Products
Hershey’s has a diverse line of goods and offers a wide range of items. New products, designs, flavors, packaging, and presentation should all be introduced regularly for them to have a stable customer line.
The chocolate company can try to offer customized goods that fit people’s tastes and diet restrictions. It can help the business stand out in a vast market and enhance customer loyalty.
Using the Most Recent Technologies
By bringing in new technology, Hershey can help themselves increase their productivity and competition in the industry. Adopting technology like automation or improved manufacturing methods will get them various benefits.
This technology will no longer need manual labor and will help the Company reduce costs.
THREATS: Hershey’s SWOT Analysis
High Level of Competition
There is no doubt that Hershey has massive competition in the industry, given that they are one of the biggest brands of Chocolate. The chocolate business is overpacked with solid matches, including companies like M&M, Mars, Cadbury, Oreo, and more.
This means that Hershey’s must keep in mind always to try to stick out from the others to be in the limelight.
Other Brands May Try To Mimic Their Products
Hershey’s is threatened to be copied by some companies competing and producing low-quality products. People might turn to these as they are priced less than Hershey’s goods.
These copied products can harm Hershey’s brand and damage customers’ trust in the Company’s products.
What is Hershey's slogan?
Hershey, the chocolate brand's famous tagline is– 'The Great American Chocolate Bar. There's a smile in every Hershey Bar.'
What is the best advantage Hershey has?
Hershey's most significant advantage, its strength, is its brand recognition and extensive customer base. Since many people trust the Company due to its popularity, this adds to their most significant advantage in the industry.
Who is Hershey's most significant competitor?
Here are some of Hershey's most significant competitors– Mars. Mondelez International, Nestle, Lindt & Spruengli. Pladis. Ferrero, and Yamazaki Baking.
Who is Hershey's target audience?
The colorful sorts and flavors of the Hershey's Kisses and Reese's Peanut Butter Cups will excite children, making them the Company's prime target. The adults, too, are a target audience for the Company as they usually buy the products to satisfy their sweet tooth.
Today, with this article, we explored Hershey’s SWOT analysis. We skimmed through its strengths and weaknesses that add and take away from the Company’s benefits and the opportunities and threats that the Company can look out for in the future.
Read also: What is Dunkin Donuts’ Marketing Strategy?