Though brand development is by no means a better idea, today consumers have more accessible to information and more choices than ever before. The result is greater expectations, and the brand’s message must captivate the consumer immediately. Companies seeking to experience long-term success will always have to make the most compelling, so relevant, and very consistent brand experiences for their clients. Mars undertakes a “Developing a Brand Statement (Brand Proposition)” to win more customers and to make sure that they get highest profit than that for the old brand.
Developing a Brand Statement (Brand Proposition)
From the researches than were done, advancement of the brand statement, normally referred to as a brand proposition, starts. The brand statement is normally a promise. It states that if you use our products/services, we promise that this or that will occur, whether it is the satisfaction from using well branded M&M, to the comfort of selecting the services of particular financial planner. The M&M brand proposition must be clearly understood, very engaging, presented in the correct context for relevancy, and offer a solution to the target audience’s current wants and needs.
M&M brand is an effective brand propositioning that can be found in a well known food processing companies. The commercials successfully pass the brand's statement that goes something like this; if you buy our M&M premium, we'll customize the your specifications to fit your needs, you'll always have access to our award winning customer service, you’ll also have less hassle to worry about, and best generally you will feel good whenever you use this good. The M&M premium brand’s promise is easy to understand, quite engaging, very unique, totally relevant (to the target audience), and finally consistent.
Cannibalization
There's no refusing it--frugal is the new trend. Still, the same retailers continue to ask themselves just how much consumers are willing to give up to save a few dollars. And will it include premium chocolate? Since M&M premium has been the star of the candy aisle for some time. Over the five-year period from 2003 to 2007, M&M premium chocolate's share of the total chocolate market has more than doubled, from 8% to 19%. Curtis Vreeland, senior researcher for Packaged Facts, predicted that share to reach 30% by 2012, despite sales values moved up by commodities price hikes and recessionary slippage in demand.
A recent report from Packaged Facts showed that sales in the M&M premium chocolate segment outpaced general category sales in 2007, making it the engine that drives the chocolate level. Premium chocolate sales developed nearly 5% for the 52 weeks ended Oct. 5, 2008, according to the research done by Information Resources Inc. Due to the fact that more action have been coming from producers of mass brands who have been introducing their own trade-up brands. These not-quite-M&M premium brands will allow consumers to trade up within a familiar brand with a product that offers something above the original product. After this recent introduction of M&M Premiums, M&M candies with shimmering finishes in exotic flavors that are merchandised in upright containers and retail for more than $3.
This new product captures the fashion-M&M premiums, vibrancy and indulgence of premiumization, yet it retains the sense of unpretentiousness and colorful fun that the M&M's brand has always stood for. Bowling said Mars also has added a number of formats and flavors to its Dove brand, which is the top-selling premium chocolate brand in the United States of America. Dove Desserts in tiramisu and banana foster were introduced in June. In the M&M premium tablet collection, six new flavors and formats were added, and packaging was changed to feature more than three individually wrapped pieces to address consumers' need for portion control and sharability.
On the heels of its Starbucks brands and Cacao Reserve, Hershey launched Bliss, wrapped individually, bite-sized M&M candies in three flavors, positioned as an always indulgence. To target female chocolate lovers mainly, the company established the product at private parties through House Party, a marketing company well known for using viral marketing techniques to make word-of-mouth buzz.
Trade literature contends the M&M's Premiums will never cannibalize the core M&M's brand because Mars is targeting what it dubs the Savvy Socials. These are women who shop M&M premium categories, like to indicate their sense of style and entertain. U.S. sales of M7M premium chocolate, defined as sweets that sell for $8 or more a pound, skipped 11 percent to $2.7 billion in 2006, per Packaged Facts, Rockville, Md. Dark chocolate sales highly grew 15 percent to $4 billion. (2007 numbers were not availed).Mars already is a formidable M7M premium and dark chocolate player with the Dove and Ethyl M box chocolate lineup. Hershey also began making Starbucks Chocolate last month.
In conclusion, M&M's premium were released as part of a competition in Australia and New Zealand. M&M's premiums winning packs were ordinary M&M's, but had no shells (and hence had no colours). An official website was launched, along with television advertisements only. About the time pretzel M&M'S premiums came out, the M&M'S wrapper designs in the U.S. were corrected, from the old design that was used from 2004-early 2010.
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