Please, read and respond to the two classmate’s responses attached. (125 words each)
The response is not an evaluation of their discussion posts. You would agree with them and explain/add new information on your response regarding the topic in discussion. (No citation needed)
Thank you
Please, read and respond to the two classmate’s responses below. (125 words each) The response is not an evaluation of their discussion posts. You would disagree with two of each and explain/add new information on your response regarding the topic in discussion. (No citation needed) Thank you Discussion 1 Good afternoon, Perceptual mapping "entails developing schematic representations that reflect how products or services compare to those of their competitors on dimensions most important to success in the industry" (David, David, 2016, p.250). This method is often used throughout different companies in order to discover which products from one company may compare to another. Creating a product positioning map can use useful to Hershey's because they are then able to compare products to one another. With there being 9 other products other then Hershey's to compare it to it can come in handy. If they did not have this tool, it would make it a lot more difficult to determine the benefits of one over the other. The company's products that I prefer are Mars over the rest of them. The reason why I like Mars candy better is because they have created M&MS and Snickers which are some of my favorite candies. With looking into the calories and nutritional facts in each of the candies this can help better for marketing and for customers to make decisions when they choose a candy. Many people are often on diets and are worried about how many calories they are consuming and by having this more readily available it can help them to make a decision easier. References: David, F., David, F., (2016). Strategic Management: A Competitive Advantage approach, concepts and cases (16th edition). New York: Pearson Discussion 2 Myra Reese Greetings Class, Organizations have to monitor their services and products positioning in comparison to their competitors. As a result, product-positioning map offers strategic information to corporate executives and marketing managers that are assigned with the role of strategic planning (David & David, 2017). Hershey Company has been relying on perceptual maps for their strategic planning. The perceptual mapping is essential in providing a company with different perceptions of customers and potential consumers of their products. The positioning is essential for the company in identifying gaps that exist in their distribution of goods. As a result, they will work towards sealing the gaps while trying to solve problems facing their goods. For instance, the company should work towards reducing the number of goods that fall in the category of high quality and prices. Most customers are quality and price oriented. As a result, they are after buying goods that are of high quality but low prices. Such initiative would lead to attraction of more customers while maintaining consumers’ loyalty. Low Nutrition The information is helpful especially for individuals living under special diets. The individuals would be recommended to buy products with low calories but high in nutrition. Strategic Recommendations The main competitors to Hershey Company is Nestle and Mars Inc (Key, 2015). The two companies have been having major shares in the market. Therefore, it is recommendable for Hershey Company to change their prices (Schjelderup, 2014). They should ensure the customers are retained while the company is not affected. The prices of some products could be increased depending on the customers’ demands. References David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach. Pearson. Key, D. (2015). An Overview of Hershey, America’s Largest Chocolatier Schjelderup, A. (2014). Recommendations Report: The Hershey Company