M&M chocolate candy Essay Example | Topics and Well Written Essays - 3250 words

M&M chocolate candy - Essay Example The organization is well known for its confectionary brands like Mars bars, M&M’s, Milky Way bars, Snickers, Skittles, and Twix. Currently, the M&M’s chocolate candy is sold in over 100 countries worldwide. The most catching feature of this product is that its unique taste is appealable to people belonging to all age groups. The corporate principle of manufacturing chocolate products in domestic markets reduces the operational efficiency of the organization. In addition, the company is exposed to FDA regulations as it operates in the consumer foods industry. The strong global presence and high brand recognition are the major strengths of the company whereas expensive marketing campaigns seem to be a weakness of the business. Currently, M&M’s adopts a competitive pricing strategy because the product has been on the market for decades and there are numerous close substitutes for this product. Global market expansion, increased focus on social media promotion, and effective brand establishment are some of the marketing objectives identified for the M&M’s over the coming years. The organization is advised to rely mainly on direct and retail marketing channels to accomplish the marketing objectives proposed. The direct marketing channel strategy can benefit the organization to generate more sales through its website and to offer cheaper rates to end consumers. However, the business concern may also depend on other marketing channel strategies like advertising, sales promotion, and e-mail marketing that can increase its sales vol ume and meet marketing objectives.