MM chocolate candy Free Essay Example, 3250 words

II. Product and Company Background 1. Company history and products Headquartered at McLean in Virginia, Mars, Inc. is an American multinational company dealing with confectionary and food products. It is the sixth largest privately-owned business enterprise in the United States. The organization was founded by Frank C. Mars in 1911. The company achieved annual sales revenue of US$33 billion in 2013. Although the company is a manufacturer of pet food and other food items, it is prominent for the confectionary items it creates such as Mars bars, M&M’s, Milky Way bars, Snickers, Skittles, and Twix. As of 2014, the Mars family employed over 75,000 people worldwide. The major products of the company are illustrated below. Mars bars It is a chocolate bar manufactured by the Mars Inc, and this confectionary item was first manufactured in 1932. Skittles This fruit-flavored sweet is currently manufactured and marketed by the Wrigley Company, a subsidiary of the Mars, Inc (â€Å"Skittles. .†). Pedigree Pedigree is a major pet foods brand of the Mars Inc with its production facilities in England. Uncle Ben’s Similarly, the Uncle Ben’s is also a major brand of the Mars, Inc focusing parboiled rice and related food products. We will write a custom essay sample on M&M chocolate candy or any topic specifically for you Only $17.96 $11.86/pageorder now 2. Introduction of the new Product M&M’s chocolate candy product (the focus of this marketing plan) M&M’s are â€Å"colorful button-shaped chocolates† and a major brand of Mars, Inc inspired by Smarties (â€Å"Learn to count†¦Ã¢â‚¬ ). The letter ‘m’ is printed on one side of this chocolate candy shell and they are available in a wide variety of colors. Originated in the United States in 1941, M&M’s are currently sold in more than 100 countries. Evidences from market studies suggest that there has been a growing demand for chocolate candy products not only among children but also among other age categories over the last several years. Industry analysts indicate that this trend is likely to continue over the coming years. To illustrate, rising income levels in emerging markets like India and China coupled with ongoing economic recovery in North America would lead to a 30% growth in demand for chocolate candy products by 2020 (â€Å"The future of chocolate: ..†). This chocolate product is consumed by people worldwide despite age differe nces. As mentioned already, the major attribute of this product is that its taste is appreciated by people of different age groups. There are countless varieties of M&M’s including milk chocolate, mint chocolate, white chocolate, dark chocolate, and orange chocolate.