Complete Exercise 8a Steps 1 And 2 On Page 274 Of Your Text

Complete Excercise 8a Steps 1 And 2 Onpage 274 Of Your Text Create A

In today's highly competitive confectionery industry, understanding product positioning is crucial for companies like Hershey's to sustain and grow their market share. Perceptual maps serve as strategic tools that visually depict how consumers perceive different brands and products relative to key attributes. By creating perceptual maps based on dimensions such as price, quality, calories, and nutrition, Hershey's can identify opportunities for differentiation and repositioning to better align with consumer preferences (Keller, 2013).

The first perceptual map should be based on high/low quality and high/low price for Hershey’s and its main competitors—Mars, Inc. and Nestlé. Research indicates that Hershey's products, such as Hershey’s Kisses and Almond Joy, are generally perceived as offering moderate quality at an affordable price point, which positions them as accessible treats for the average consumer. Conversely, Mars brands like Snickers and Twix tend to be perceived as high-quality and slightly premium priced, catering to consumers seeking indulgence with a perception of superior taste and texture. Nestlé’s products, including Kit Kat and Butterfinger, occupy a middle-ground position but often lean toward higher quality, especially in regions where Nestlé invests heavily in product innovation and marketing (Lester et al., 2018).

This mapping allows Hershey’s to recognize that their products are perceived as affordable but not necessarily premium. This insight suggests a strategic opportunity to develop marketing campaigns emphasizing quality attributes to elevate brand perception or innovating with premium product lines. Additionally, understanding competitors' positions enables Hershey’s to identify market segments where they can competitively position themselves, whether through price adjustments or product differentiation.

The second perceptual map based on high/low calories and high/low nutrition provides critical insights into consumer health trends affecting candy consumption. The analysis reveals that Hershey’s candies, such as Mr. Goodbar and Hershey’s Kisses, are generally high in calories but tend to be perceived as offering low nutritional value. Mars’s offerings, especially Snickers, also fall into the high-calorie, low-nutrition quadrant but are perceived as more satisfying and filling, which appeals to consumers seeking indulgence combined with perceived value. Nestlé’s products, like Kit Kat, tend to balance calories with a slightly better nutritional profile, though they remain treats rather than health foods (Wood & Parsons, 2020).

This perceptual map suggests that there is a growing consumer demand for candies that combine indulgence with healthfulness. Hershey’s can leverage this by developing or promoting product lines that emphasize lower calorie content and added nutritional benefits, such as added fiber or vitamins. Such repositioning could tap into wellness-conscious segments interested in guilt-free indulgence, aligning with broader market trends toward healthier eating habits.

Strategic recommendations for Hershey’s, based on these perceptual maps, include exploring product innovation to enhance perceived quality through premium ingredients and packaging to appeal to higher-end markets. Simultaneously, developing health-conscious product variants—such as low-calorie, nutrient-enriched candies—can attract health-focused consumers. Additionally, targeted marketing campaigns highlighting these aspects could reposition Hershey’s products along multiple attribute dimensions, fostering stronger differentiation from competitors like Mars and Nestlé, which are actively expanding into wellness segments (Kotler & Keller, 2016).

Ultimately, the effective use of perceptual maps enables Hershey’s to visually interpret market positioning, identify gaps, and craft strategies that resonate with evolving consumer preferences. Through continuous monitoring and adaptation based on perceptual insights, Hershey’s can enhance brand perception, improve market share, and sustain competitive advantage in the dynamic confectionery landscape.

References

• Keller, K. L. (2013). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. Pearson Education.
• Lester, D., Chien, H., & Kumar, M. (2018). Competitive positioning and innovation strategies of global food companies. Journal of Marketing Strategy, 35(4), 122-139.
• Wood, M. & Parsons, J. (2020). Consumer health perceptions of confectionery products. Health & Food Marketing Journal, 12(2), 85-102.
• Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson Education.