In dissect a market and evaluate the conditions within

In the business of candy, Mars Inc are a dominant body in
this market. It is an international multi-billion dollar company which their predominant
factor of success lays within their marketing strategy. To continue to retain
this generous share of the market, they have incorporated marketing strategies.
These strategies include adapting to new markets and customer needs, adapting
to new health regulations, advertising strategies to target a specific audience,
competitive product pricing, uses different and innovative strategies when
entering a new market as well as locating and acquiring smaller rival brands to
increase its share in different countries. These strategies are imperative for
Mars Inc as they are the tools needed in order to remain a reputable and
attractive brand to customers. The tools will allow the brand to dissect a
market and evaluate the conditions within it to be able to create a product
that will be desired by the consumers. Consumers’ eating habits, government legislations,
weather and competitors change continuously; it is up to the marketing department
to evaluate all of these factors in order to guide the company’s objectives
accordingly.

Mars Inc uses the 4Ps marketing strategy (Promotion, Product,
Place, and Price), this well known strategy covers every area marketing can reach.
By applying this to their objectives; they can diversify and adapt superiorly
to their competitors by executing specified advertising, great-for-value
pricing, develop desire products and adapt these products to its countries
consuming habits. Together this makes Mars Inc a master of providing exactly
what consumers need, or furthermore gives consumers a need for a product Mars
Inc has created.

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Mars Inc have a wide range of
different products; their signature product which is widely known for is a Mars
Bar. The marketing department ensure that this chocolate bar is sold and
distributed in many different countries through supermarkets, vending machines,
online and even corner shops. This system has an advantage to its competitors
as it is easily available to any consumer. It is even made in a peanut-free
factory so that there are no traces of nuts. This has an advantage against its
competitors as Mars Incs’ marketing department are conscious that a lot of
people have nut allergies; the result is that it will provide for those
consumers whilst taking them away from its competitors. To diverse its business
model, Mars Inc have implemented a mid-pricing strategy in all of their products,
this is because its main target audience are from low to upper class with ages
ranging from teenagers up to elderly. Mars Inc have done this by considering
factors such as advertising, margin costs, and distribution. This gives a wide spectrum
of consumers the ability to purchase their product while maintaining a good margin,
to ensure the quality of the product remains high. To add on to this, Mars Incs’
marketing department have evolved with the growing consciousness of health
within today’s society. It has been brought up by the public and government
that the growing concern of sugar in chocolate bars has contributed to the
growing numbers of child obesity. Mars Inc have executed several changes within
their product of Mars Bar in order to address these concerns. For example, “A Mars spokesman said: “As part of our global
commitment to promote responsible consumption, and as a signatory of the
Responsibility Deal’s calorie reduction pledge, we said we would ensure that
all our single-serve chocolate products would contain no more than 250 calories
per portion.”” By taking action this way,
it has reduced the size of the chocolate bars (saving costs) while marinating
the same price all in the name of the new health regulations. This benefits not
just Mars Inc but that of the publics health too. Their marketing department
even realise that changing the product can become detrimental to loosing the
brands taste its customers are used to when they mention “Mars said it had
little choice but to reduce the size of the products because there was a limit
to what could now be achieved through reformulation.”

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