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Hershey industry analysis
Hershey industry analysis
Hershey's impact on modern society
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In the year 1893 a decision was made that changed Americas and now the world’s tastes buds forever. It all began when Milton Hershey decided to coat his caramels with a sweet chocolate he produced. By the nineteen hundreds the newly founded Hershey Company began selling their world famous milk chocolate bars. As of today, The Hershey Company is the top manufacturer of chocolate in North American. As the The Hershey Company has progressed over the years since 1894 and continue introducing new products. Hershey has expanded all over the world and markets in about ninety countries worldwide [Chocolate Products, Recipes, Nutrition Information]. As The Hershey Company grows they stay determined to keep the vision and values that Milton Hershey had when he started the company from the ground up so many years ago.
The man behind the company is Milton S. Hershey. Hershey’s and his incredible story; he went from being in formally educated and almost bankrupt by he was thirty to one of the most successful and wealthiest entrepreneur. He started his career in the candy business with a four year apprenticeship with a candy-maker in Lancaster, Pennsylvania. Next, Hershey wanted to start his own company and from here on it wasn't an easy journey for Hershey; he faced many obstacles during his climb to success. In 1876, he ventured off to Philadelphia to start his own candy business which ultimately failed. After this failure he found himself in Denver working with a confectioner. It was here that Hershey learned how to make the caramels using milk. Afterwards, Hershey decided to give it another go at starting his own business in New York City, but again he attempt ended in failure and he moved back to Lanchester. Here he began selling his car...
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...gy became more advanced, business was booming for the Hershey Company; With new, better, faster, machinery, and new products introduced. “The Hershey Company grew spectacularly in the last 30 years of the 20th century. From $334 million in 1969, the company’s net sales soared to $4.4 billion in 2004 [Hershey's.]”
The Hershey Company has grown and expanded for the past one-hundred and twenty year since it was first founded by Milton Hershey in 1894. The company grows in both products, community, recreation, and passion. Hershey is not and never has been like any normal company. They truly have a passion for what they do and it all started with Milton Hershey.The Hershey Company continues to stay determined in keeping the visions and values that Milton Hershey wanted for his company many years ago and thats why Hershey remains to be “The Sweetest Place on Earth”.
WHAT COMPANY MAKES IT TODAY: The company that makes jolly ranchers now is the Hersey Company
While Europe and the United States account for most chocolate consumption, the confection is growing in popularity in Asia and market forecasts are optimistic about the prospects in China and India (Nieburg, 2013, para 9). According to the CNN Freedom Project, the chocolate industry rakes in $83 billion a year, surpassing the Gross Domestic Product of over a hundred nations (“Who consumes the most chocolate,” 2012, para 3). If chocolate continues grow popular in Asia, it stands to become even more lucrative.
Before Milton Hershey had a world wide known chocolate business, he had a small, not so well known caramel business. Milton Hershey began his chocolate making business in 1893, when his father and him traveled to Chicago to attend a big job fair (Tarshis 14), but it wasn’t until 1900 when Hershey succeed in making the first milk chocolate candy bar (The Hershey Company). Hershey attended an exhibit hall of new and amazing inventions around the world at the fair in Chicago. As Hershey walked into the exhibit hall, he was struck by a delectable smell (Tarshis 14). “Hershey was already a leading candy maker. He had created the largest caramel factory in the country, but he became convinced that the future of his business would be chocolate. At the fair in Chicago, Hershey Bought chocolate-making equipment. He had it shipped back to his caramel factory in Pennsylvania. Then he hired two chocolate makers. Soon the company was churning out chocolate candies in more than 100 shapes” (Tarshis 15).
The videos provided for this subject builds a great understanding on what happens behind the scenes and how the production cycle of chocolates turns deadly for few. The chocolate industry is being accused having legit involvement in human trafficking. The dark side of chocolate is all about big industries getting their coco from South America and Africa industries. However, it is an indirect involvement of Hersheys and all other gigantic brands in trafficking (Child Slavery and the Chocolate Factory, 2007).
Market research and information about the industry is very important to the organization because it will allow the organization to position itself well in terms of sourcing chocolate raw materials and in identifying the market for its products. For example, understanding that some chocolate product purchases are seasonal, e.g., at Christmas; around Mother’s Day; and, on Valentine’s Day, allows the organization to have more product on hand and to create displays, in store, that will increase purchases and attract more customers when existing customers tell their friends about the availability of high end products, at reasonable prices, in their store.
Ben & Jerry’s Homemade Holding Inc., commonly known just as Ben & Jerry’s, produces ice cream, frozen yogurt, and sorbet. Founded in Burlington, Vermont in 1978, the company is a subunit of the Unilever mega-company. Founders Ben Cohen and Jerry Greenfield created the company after completing an ice cream making course at Pennsylvania State University’s Creamery. In May of 1978, with a small investment totaling a little over ten grand, the two business partners opened an ice cream store in Virginia. Two years later, the two took their talents and started packing their ice cream into pints. In 1981, the company became a franchise, opening their second store in Shelburne, Virginia. Today, Ben and Jerry’s locations have expanded across the globe.
The founhder of the company, Godfrey Keebler, started with jus a small bakery in Philadelphia, PA in 1853. During the next two generations, local bakeries popped up around the country, including Strietmann, Hekman, Supreme and Bowman. With the introduction of cars and trucks (carrying the Keebler logo), bakery goods could be distributed beyond the neighborhood and regional distribution began.
Milton Hershey was not the type of person that anyone would have viewed as a leader, or shrewd businessman. Being born into a rather poor lower class family, he was not very well educated. The one thing that we do know for sure though, is that leaders are not born, they are made. This is exactly the case of Milton Hershey, and because of his undying determination to succeed, he became one of the greatest success stories of all time.
Coe, Sophie D., and Michael D. Coe. The True History of Chocolate. 2nd ed. New York: Thames and Hudson, 2007. Print.
...terized as the “Henry Ford of Chocolate Makers.” With the help from his aunt, he established his own candy business in Philadelphia in 1876, he was merely 19. He mainly produced caramel confections, which he ended up selling for one million dollars after a trip to the chocolate centers of Europe. With the money, Hershey bought a farm in Derry Township, Pennsylvania, and built his chocolate factory. This became the nucleus of “Hershey, the Chocolate Town.”
ConAgra’s Foods mission of "one company growing by nourishing lives and finding a better way today, one bite at a time (ConAgra Foods, 2010/29/07)," is dedicated to providing consumers with good quality food that tastes great and provides good nutrition at a reasonable cost. ConAgra was founded in 1919 by Frank Little and Alva Kinney, who consolidated four grain mills as Nebraska Consolidated Mills. ConAgra financed the development of the Duncan Hines brand of cake mixes in 1951 to make flour more profitable. But in 1956 they sold their assets in Duncan Hines to Procter & Gamble, and 15 years later in 1971 Nebraska Consolidated Mills changed its name to ConAgra. Several successful and lucrative investments resulted in ConAgra Foods being the largest processed foods business in America (ConAgra Foods, 2010/29/07). Along with the...
The recent product, liquor filled chocolates, is a viable business that can sell if it is implemented professionally. This recent innovation should be able to acquire attention from the market owing to its combination of selling products. Put simply, the liquor-filled chocolates are chocolates that contain alcohol. According to Novellino (2011), chocolate-candy sales summed up to $16 billion in 2008 in the U.S. Furthermore, the statistics on alcohol reveals that liquor sales hit $19.9 billion in 2011.
Ben & Jerry's Homemade, Inc., the Vermont-based manufacturer of ice cream, frozen yoghurt and sorbet, was founded in 1978, with a $12,000 investment ($4,000 of which was borrowed). It soon became popular for its innovative flavours, made from fresh Vermont milk and cream. The company currently distributes ice cream, low fat ice cream, frozen yoghurt, sorbet and novelty products nationwide as well as in selected foreign countries in supermarkets, grocery stores, convenience stores, franchised Ben & Jerry's scoop shops, restaurants and other venues.
one of the wealthiest men in America. Wrigley started out as a soap salesman in his native Philadelphia. After moving to Chicago in 1891, he began offering store owners incentives to stock his products, such as free cans of baking powder with every order. When the baking powder proved a bigger hit than the soap, Wrigley sold that instead, and added in free packs of chewing gum as a promotion. In 1893, he launched two new gum brands, Juicy Fruit and Wrigley’s Spearmint. Because the chewing gum field had grown crowded with competitors, Wrigley decided he’d make his products stand out by spending heavily on advertising and direct-marketing. In 1915, the Wrigley Company kicked off a campaign in which it sent free samples of its gum to millions of Americans listed in phone books. Another promotion entailed sending sticks of gum to U.S. children on their second
Later on in it’s history in the year of 1965 Pepsi- Cola’s foundation changed by merging with the Frito Lay company establishing the now successful PepsiCo. Inc. However, the Frito-Lay, Inc. was built by the merging of the Frito Company in 1961 , whose owner was Elmer Doolin in 1932, and the H. W. Lay Company, founded by Herman W. Lay. Today PepsiCo Inc, has become one of the top companies in the food and beverage industry. Their company has expanded to owning twenty two popular food