The most significant period of the creation of chocolate is when people started to innovate the ways of aging a chocolate. M&M’s is described, as colorful buttoned chocolate that became a well-known chocolate brand not only for kids but for adults as well. Apart from its colors, M’s advertising slogan; “Melts in your mouth, not in your hand. ” made the brand popular even more. Over the years, M&M’s continued to innovate and develop different product lines that will fit the different age bracket in the market. They formulate and perform different marketing strategies to empower their product.
The aim of this study is to give a brief history of the M’s, the controversies hat the brand experienced and the strategies made to manage it. Also, this will give relevant information of the brand’s marketing activities to maintain and increase brand awareness. INTRODUCTION The modern day pleasure for sweets was an emergence from an ancient crop discovery in Yucatan Jungles during the Maya of the Classic Period (250-900 B. C); this plant was known to be the cacao trees. Upon unearthing of the plant, the Classical Maya were able to develop variety of ways to make use of the fruits of the tree.
They have then added different ingredients to create a titer beverage brewed from cacao seeds/beans although this practice has traveled to the Valley of Mexico down to the Aztec Nation, the popular drink was then referred to as ‘cockatoo’, an Aztec term wherein the word “chocolate” was coined from. Way back on this era, cacao seeds were a symbol of status quo; they have once used it as their currency. Also, only people who belong to the royalties or the upper class were allowed to consume ‘octal’. (Yucca, 2006).
Chocolate only became popular in Spain when Spanish explorer Hernandez Cortes mixed the bitter drink with honey or sugar cane since they have found he taste odd. Then, the fascination spread wide across Europe, believing the chocolate drink to be an aphrodisiac and medicinal. As the innovation of chocolate broaden among culture and countries, the birth of the modern chocolate bar came about as Joseph Fry discovered that chocolate paste can be molded with the presence of butter in 1847. By the year 1868, Academy started to market boxes of chocolate candies and then a few years later Nestle break new ground by selling milk chocolate.
In America, chocolate was a significant commodity during the Revolutionary War for it was when it darted to be served as part of the soldiers’ paycheck. (Bunsen, 2008). However, the period of war during the 1 930-sass’s had contributed a lot to the creation Of M’s chocolate. In 1941, Forrest Mars Sir. , son Of the founder of the Mars Company Frank Mars has seen soldiers nibbling on tiny chocolate pellets on their rations. He then came up with an idea to coat the chocolate pellets with hard sugar shell to put it off from melting. Mars Sir. Saw the potential of his concept and encourages William Murmur to be his partner on his business venture.
This is where they have laid claim to the product’s name M to stand for Mars and Murmur. After the candies were made available for public consumption, Forrest Mars acquired Murmur’s shares in the company and later on Forrest united his line of business with his fathers company, Mars Inc. (Chums, 2014). On this research you will find key points such as evaluation of the present marketing movement of M&M’s, some of the most compelling issues the brand has faced and how it was able to overthrown these issues and lastly what advancement in their marketing strategy can the researcher propose to exude the brand’s diversity.
This exploration will focus on providing an in- PPTP understanding of M&M’s marketing strategy over the present years of the 21st century. BODY An industry that actively participates in the global business must learn to be aware of the world market. The business must consider and pattern its activities in a worldwide perspective since it is not limited to operating in one country alone. This instance will save investments from all aspects of the business like research and development, operations, finance and most especially marketing.
M’s would be a perfect example for it has successfully overcome all global business endeavors that an internationally now brand can experience. (Business 2000, 2002). The brand M&M’s has strategically built its brand equity through its strict Marketing Code; its mother company Mars Inc. Developed a very comprehensive style on how it will project its products to its target market. Responsible advertising practices apply to all marketing communications of the brands under Mars Inc.
Thus, all guidelines are incorporated to every single one of the promotional materials of the brands, which represent cohesion within the marketing efforts, and/or the messages that the corporation would like to convey whether it be in traditional or non- rotational medium of marketing. Equally important, digital marketing is an entity that the modern day promotion is trying to value; it is an interactive, fast-paced and innovative form of reaching out to the business’ consumers. Since it is a diverse platform Mars Inc. Aka sure that all materials being rolled out in the worldwide web must have a responsible content for them to maintain the respect and trust of their brands’ adorers. Evidently, M’s is well-known for its top of the line qualities that sets it apart from other candies but from the marketing standpoint it became aberrant cause of its distinguishing packaging, its slogan: “melts in your mouth, not in your hands”, the unique M marking on every piece of the chocolate and most particularly M&M’s Brand Characters for it has cultivated different dispositions for each color of the M’s.
Certainly, this has opened countless ways on how they are going to market their product; truly this is the reason why the brand is globally renowned. (Business 2000, 2002). In brief, M&M’s marketing strategy was believed focused and divided into four categories: First, world events, where they have integrated world’s current vents on their marketing and promotions strategy. Also, the brand characters impersonating celebrities like Melissa and Joan Rivers to name a few.
These were just some of the contents that they have deemed to be engaging for all the customers around the globe. Second is repackaging, the brand has to keep up with the trend on how to present their product to the customers, the packages and the candies were constantly being modified to match with special occasions and all major holidays predominantly on Halloween and Christmas making collectible memorabilia such us chocolate dispensers, tins etc.
Third is color promotion, this played an important role over the past marketing and advertising strategy for M&M’s since almost all of its largest campaigns centered on this scheme. Lastly movies, M’s had penetrated the fascination of Star Wars; the campaign that ruled in year 2005 when they have launched and started to offer dark chocolate as part of their newest line in M&M’s variety of chocolates. (Allured, Matheson, Moves, Sisley & Simpson, n. D). Hence, continuously develop new concepts within these categories to make the brand still be appealing to the consumers.
Coming up with their most cent and massive marketing campaigns: MY M’S wherein a client can personalize his own bag of chocolates; this campaign enhanced their interaction among their customers give the company a direct grasp of its market’s preference, perennially showing their value to customers by making them feel that they are part of the decision making of the brand or the improvement of its product. Official Website, n. D. ). BETTER WITH M also prompted a more consumer engaging effort.
Again, they have embodied worth for their consumers. This effort incorporated M’s to be part of its consumer’s everyday moments. The 13 million dollar campaign positioned itself to become an everyday commodity that easily fits into life’s most treasured moments. Mars Inc. Utilize this campaign to empathic to all their customers by simply making it close to their hearts. (“Better with M” Campaign Analysis, 2013). In this study the researcher will also mention few of the major issues that the brand M&M’s has faced.
Loon (2014) mentioned that on September 2014, Mars Chocolate Northern America had to recall M’s Theater Box for it undergone misleading. The product contained peanut butter, which was not sited on the ingredient label on the outside box. The company was able to manage this issue properly by ensuring the general public that the retracted product is not being sold. The chocolate company released a new line of their product called Crispy M&M’s in 2005. In quite a short while that it is in the shelves.
M’s discontinued the manufacturing of the Crispy M&M’s with the reason that its contribution to the business revenue is relatively low with what was expected. To have it appear as a positive connotation against their competitors they released a statement on their defense that they are reviewing their marketing tragedy and that the product will be unavailable from that time on. (Missing: crispy M’S, (n. D. ). In 2013, a 12 year old boy named Matthew Hershey from Scotland Pennsylvania allegedly found a razor blade in a fun size M&M’s pack.
As per the police officer, there were on appearance of tampering and it was probably a manufacturing issue. Mars Inc. Faced the issue with grace and attended to the allegation stating that food and safety are of paramount importance to them. They conducted further investigation to find the real nature of the incident. (Goldman, 2013). Research showed that majority of the consumers with an average of 45. % purchased the products at supermarkets and discount centers; believing it as the most convenient and accessible place to buy the chocolates.
While, almost a quarter of the population scaling of 27. 5% get their stash of chocolate on small grocery stores since it is the next most convenient business unit to buy the commodity. The remaining 15. 7% is a contribution from other business entities (I. E. Warehouses, convenience retailer, e-taller), 10% from belongs to specialist stores and only 1. 5% for non-store. (KEMP, 2012). The geographic location also has a significant role in determining market alee Of a commodity in the reason Of different area has its own specification of consumers taste.
Figure 1. 2 illustrates the global market share movement by region whereas the Western Europe dominates with the contribution of 32% and Australia with the least market share of 2%. (KEMP, 2012). In order to understand the global chocolate market there are four factors that is relevantly important in driving the growth in the industry. First is Sustainability, according to Mary Unfelt, Analyst at Fishbowls: “Americans in particular are becoming more socially conscious in their choices, buying chocolate from sustainable and organic sources.
This goes to show that consumer’s insight about buying a product is driven by the primary ingredient or food origin. Second is Innovation, since the business is diverse consumers are more likely to be keeping up the latest trend, which makes them more demanding. Currently, custom-made goods are starting to pave its way to revolutionize the industry. Third is Health, given the fact that governments are trying to give emphasis on healthy lifestyle, the industry is being encouraged to present potential health benefits of chocolates furthermore to make it as a functional good in the near future.
Lastly is Venting, celebrating festivities and major special occasions are part of a consumer’s culture. This gives urge to the consumer to purchase chocolates that is why seasonal chocolate market is a phenomenon. (KEMP, 2012). ANALYSIS A successful business is being identified through its activities and participation to the growth of the industry where it belongs. On this note, a business should have a clear understanding unto whom, where, when, why and how they are going to market their product.
These are just some of the basics in marketing and stated below are the essentials on how the searcher find the brand M&M’s successful on its marketing strategy. Target Market On the early years of M&M’s it was considered a family oriented brand. In general, families who belong on the middle income group where the ones who can purchase M&M’s candy. Originally, the product was created to entice kids to be their primary consumers but as they go over the years, the product matures as well as its efforts, wanting their customers to not only buy their line of products but to make M&M’s part of their lifestyle.
Every commodity is composed of what is known as marketing mix, which is essential in building r establishing a brand. PRODUCT M&M’s has placed itself to dominate the milk chocolate category; the product comes in various types, colors, shapes and sizes. Packaging is one facet inherent in the product because of its simple yet distinctive look. The brand had also ventured into licensing to promote other products shirts, candy dispensers and stuffed toys that carries its trademark. Lately, M&M’s has introduced MY M&M’s wherein consumers can customize their own bag of candies.
PRICE The product was unassertive priced so that everyone can afford to purchase. A single serving bag is under a dollar, large bags will range from 2-3 while customized bags of M&M’s are a bit pricey than the usual because of your ability to control the candies based on your preference. It is priced almost $10 for an 8 ounce bag although the minimum quantity is 4 bags an order costing the consumer almost $38 (M&M’[email protected] Official Website, n. D. ). PLACE M&M’s is being sold under retail distribution. It is sold to many, if not all of the food retailers in the United States and International markets.
You may also find and be able to purchase it on its own website for they have made it easier for their consumers to have an access to it. PROMOTION When it comes to promoting the product, M&M’s is using all means to reach its market. It may be via traditional advertising such as ads on television, newspaper, magazines and radio or non-traditional advertising like advertisement on websites, ad placements on blobs and needless to mention the social media (I. E. Backbone, Twitter, Instating). M&M’s is also commendable in creating materials that are relatively close to each other that make the consumer have solid brand awareness.
Likewise, one of the very distinct campaigns of the brand is their brand characters, which eventually evolve through time making it more interesting. Perhaps the most excellent part of its promotion is the involvement of their customers to take part in the brands decision making, the brand make this possible by creating contests that makes their loyal consumers be fond of the fresh and new things the brand has to offer. CONCLUSION Mars Inc. Runs the business with five principles: quality, responsibility, mutuality, efficiency and freedom.
These are the building blocks of M&M’s why it is doing well in the business. Primarily they market their products by quality, driving preference among its customers or future consumers against imitators. Since all efforts are being planned out carefully, the company chose to implement a standardized marketing mix wherein all marketing collateral’s or materials be uniformed because in a diverse global market a business must identify whether it is going to apply a standardized marketing mix or an adapted marketing mix in order for it to maintain its brand equity.
For more than half a century, M&M’s can be classified as one of the domineering brands in the industry. Even though the brand’s marketing strategies change its approach on a regular basis it has remained stable in the lobar business The vital role of all their efforts is to have a positive output that remains timeless, creating a lasting impact across all ages, countries and cultures. In addition, M&M’s can continue to explore, innovate and expand their product lines.
RECOMMENDATION M&M’s is evidently globally recognized because it is the consumers’ top of the mind brand when it comes to milk chocolate which displays a high level of brand awareness across the globe and other age groups. Its reputation worldwide is impeccable because of its trusted quality and luscious taste of chocolate. Also, its packaging is essential to the brand recognition. It is a valiant act to advocate change with a brand that is standing in a concrete platform on its business.
This is a perspective wherein the researcher deemed significant growth or improvement on the present marketing strategy of M&M’s. Thus, there are three things that the researcher would like to suggest, since there is a recent report of shortage for cocoa supply, it is wise that M&M’s create a campaign promoting conservation and preservation of the number one component of their product. It will be prudent if they put up a movement against the threat of shortage of supply. “Let’s Save
Chocolate” Second, in view of the fact that the latest trend in branding is making some of its line premium or top of the line; M&M’s should consider collaborating with some high-end brands like Channel, Louis Button, Gucci, and Versa to strengthen its brand image. This is a great way to step-up its effort in inviting its customer to a better kind of living or better lifestyle. Lastly, M’s should fortify the usage of social media in order to reach if not all, many consumers around the world.
Social media provides different scope on how to market the product effectively like Backbone; it can be a tool for customer service relations, Instating wherein they can display their product lines creatively through photos, which will significantly catch attention among consumers and also Tweeter which they can utilize to provide an up to date news about the brand, opening of their business units and launching of their new products.