Question

Step 1 Do some research that can enable you to develop a perceptual map based on High/Low Quality and High/Low Price including the 13 candy bars just identified. How could this information be helpful for Hershey? Which company’s products do you prefer? Why? Step 2 Do some research that can enable you to develop a perceptual map based on High/Low Calories and High/Low Nutrition including the 13 candy bars just identified. How could this information be helpful for Hershey?

Answer 1

1) The attached perceptual guide will be helpful for Hershey to position another item. Note that the principal quadrant of this perceptual guide is relatively vacant while the second and the third quadrants are swarmed with numerous players including Hershey's own particular items. There is use to position an item in the fourth quadrant which is High Price however low Quality. In the event that Hershey can position its item in the principal quadrant i.e. High caliber and High Price, it should confront a lesser rivalry and because of the high value, it can have higher edge per unit of offers.

2) It is important for Hershey to research in depth about the ingredients and nutrition value of each of the candy bars made by their competitors. It will then help Hershey to identify one unique selling point which can help them produce and market a unique product in the market, using an innovative pricing structure. This will help to formulate a future strategy to counter competition and position themselves well in the global market.

Step-by-step explanation: