Brand Extension Marketing Plan
Running Head: Unit 6 Assignment 1
Brand Extension Market Plan – Unit 6 Hershey’s Sugar – Free Strawberry Syrup with Calcium Kaplan University GB530: Marketing Management Professor: Dr. Michael Mulnix December 27, 2013
Unit 6 Assignment 2
1.0 EXECUTIVE SUMMARY
The new product we are offering is Sugar-Free Strawberry Syrup with Calcium. This is a product of the Hershey’s Company and will be added to their other line of syrups. The added benefit is that it has calcium added to the product and it is sweetened with sucralose (Splenda). Our product is being produced with customers in mind who want low in sugar products. The retail price will be $3.50 which is comparable to other brands such as Smuckers.
Hershey’s target markets are individuals with diabetes, families who do not what their children to consume a lot of sugary products, college graduates, individuals 25-35 years old, and mothers with young children, etc.. Hershey’s strive for their products to be what their consumers are looking for. With our line of sugar-free products individuals with diabetes will be able to enjoy the flavors they love without having to worry about the amount of sugar that is in the products.
They will still have to watch the sugar-alcohol content but even with that they will still be able to enjoy having products available to them that are not high in sugar or
Brand Extension Market Plan – Unit 6 Hershey’s Sugar – Free Strawberry Syrup with Calcium Kaplan University GB530: Marketing Management Professor: Dr. Michael Mulnix December 27, 2013
Unit 6 Assignment 2
1.0 EXECUTIVE SUMMARY
The new product we are offering is Sugar-Free Strawberry Syrup with Calcium. This is a product of the Hershey’s Company and will be added to their other line of syrups. The added benefit is that it has calcium added to the product and it is sweetened with sucralose (Splenda). Our product is being produced with customers in mind who want low in sugar products. The retail price will be $3.50 which is comparable to other brands such as Smuckers.
Hershey’s target markets are individuals with diabetes, families who do not what their children to consume a lot of sugary products, college graduates, individuals 25-35 years old, and mothers with young children, etc.. Hershey’s strive for their products to be what their consumers are looking for. With our line of sugar-free products individuals with diabetes will be able to enjoy the flavors they love without having to worry about the amount of sugar that is in the products.
They will still have to watch the sugar-alcohol content but even with that they will still be able to enjoy having products available to them that are not high in sugar or
References: Hershey Co/The (HSY: New York): Earnings Estimates (2014). Retrieved on January 7, 2014, from http://investigating.businessweek.com/research/stocks/earnings.asp%Fticker%3DHSY HERSHEY’S (2013). Retrieved on December 27, 2013, from www.thehersheycompany.com Hershey’s Mission Statement (2009). Retrieved on January 27, 2014, from http://www.thehersheycompany.com/assets/pdfs/Hershey2009CSRReport.pdf Hershey’s Situation Analyse (2012). Retrieved on January 7, 2014, from http://hersheycompany.wordpress.com/ The History of The Hershey Company (n.d.). Retrieved on January 2, 2014, from http://www.thehersheycompany.com/about-hershey/our-story/hersheys-history.aspx Kotler, P., & Keller, K.L. (2012). Marketing management (14th ed.). :Upper Saddle River, NJ: Pearson Prentice Hall. Raheja, N SWOT analysis for The Hershey Company (2012). Retrieved on January 2, 2013, from http://hersheycompany.wordpress.com/category/2-swot-ananylsis/ December 30, 2013, from http://meangrean.hubpages.com/hub/marketing- strategy-examined- An-analysis-of-Hershey-and-Ma..