Exercise 5c Case Study

Exercise 5C

1st Strategy- Product development is a strategy that seeks increased sales by improving or modifying present products or services (David & David, 2017, p. 139). Packaging plays a huge part when considering multiple chocolate bar choices in a store. Hershey knows this fact to and has been working on many product package changes to encourage interest in hopes of gaining more sales. Business Insider provides an article about Hershey’s Take 5 bar that states, “Take 5’s comeback campaign is centered on attracting millennial shoppers. The bar’s new wrapper, which includes a list of the five ingredients, a textured black background, and bold logo, was created through a partnership with a panel of “diverse millennial-aged students.” The

138). This strategy is one that Hershey has chosen to use in its launch of a seasonal Sea Salt Caramel Banking Chip. The pros that this flavor and category of product will provide consumers is the ability to take the product home and use it for a later date. This specific product is limited edition for the holiday season and will urge consumers to purchase before it will no longer be available. The packaging is centered around the winter months as it presents snowflakes and a snowman on the cover. The benefit on this specific product is it provides Hershey a penetration into the holiday winter market. In regards to this product the Hershey newsroom states, “The Hershey Company (NYSE: HSY) is setting out to inspire bakers this fall and holiday season with the introduction of the limited edition Hershey’s Kitchens Sea Salt Caramel Baking Chips to its line of baking products, along with a number of new Hershey’s Kitchens recipes.” Another benefit of this product line is that it also provides more recipes online and connects with another entirely different market of