Introduction
Consumer behavior has emerged to become an instrumental factor that needs to be considered while developing marketing stratagem for a company. There exist certain works available that have been explored to provide room for consumer behavior towards a given product or brand. Many models have been offered to analyses the buying decision of consumers; mainly including consumer information processing model. The decision making of consumers is driven by key factors such as geographic, demographic, and psychographic factors. Going by these factors, segmentation of the consumer is analyzed ( Raaij, Strazzieri & Woodside, 2001) . These factors are thus employed in this paper in the decision-making procedure of consumers of the chosen Hershey Chocolate. Before launching a particular product, it is always important and recommended that every company considers its consumers’ buying behavior. This incorporates consumers’ preferences and tastes, aggregate of factors influencing them, and their purchasing behavior. Doing an exhaustive consumer behavior analysis is bound to make consumers successful in their buying behavior, and gives them the capability to always face the uncertainty. Knowing and acknowledging consumer behavior is bound to act as a powerful tool to develop strategies which a company can use in attaining company objectives.
Target Market of Hershey
At the present, Hershey is available in more than 95 nations globally, therefore, the target market of this classic company is to spread its business segmentation globally. In terms of geographical positioning, Hershey seeks to be present in at least every part of the globe. Taking demographic factors for deciding the Hershey’s target market, it is discovered that the target market of this company are girls and boys of ages 18 to 25. The fact that Hershey generates chocolates as its major product, it will be consumed both by the elderly and the children. Its major target consumers will be females aged 18-25. Since mothers play a significant role in families by deciding what their children consume, they too are involved in the company commercials.
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In order to better describe the target market decision-making process of Hershey, it is better to identify a given nation. In this case, we shall assume United Arab Emirates as the classic example. Demographically, the target market in UAE for Hershey would be 18-25 olds females. This covers all the ethnicities, since chocolates can be eaten by a female from any particular background. Hershey would target individuals whose monthly income is either equal to or less than AED 20000. By assuming the psychographic factors, it is discovered that the youths living an upscale lifestyle are the major consumers of this company. This group of people hardly buy anything without thinking; they normally choose and settle on the best one and then purchase it. It is imperative that the company maintains the necessary quality of its products to keep its clients associated with it.
Taking Price Decisions
Sometimes consumers may have the right willpower to purchase and consumer a product, Hershey Biscuits must realize that these consumers have to significantly change their decisions based on the differences in the prices offered on the market. The product quality should be sufficient enough to convince some consumers, even if the income levels of some of the targeted consumers may not allow them to consume the product. What brings these differences in terms of purchase decisions is the presence of price and monetary-related factors. It is imperative, that while Hershey considers launching its biscuits in different places and fixing and adjusting prices, it should consider following certain pricing strategies including skimming prices and penetration strategies. This is done as a means of maximizing revenues and sales.
It must be remembered that sales of Hershey’s biscuit products may not be same in all the geographic locations, and tends to vary with regard to the per capita income of the targeted clientele, the culture of the community, and the country’s economic status. While studying to understand the phases to be followed in establishing the new product, Hershey has to consider all these factors in those given geographic regions. Related to price taking decision is the concept of awareness creation- which also enables a firm to create sales. This emphasizes on Hershey’s decision and capability to exhaustively study its market and seek to continually promote its products using a variety of advertisement strategies. The biscuits’ quality produced by Hershey may be fine with better set prices, the sales made by the company may be less due to the clientele lack of recognition of the product. Closer scrutiny and study of the consumers’ behavior will consequently assist the company to frame the paramount marketing strategies such as buzz marketing, offline marketing, and online marketing ( Demirdijian & Senguder, 2004) .
Social Effect on Consumer Buying Behavior
The culture and the societal standards pose an impact on consumer buying behavior. Just like other products out there in the market, the buying trend of the chocolates depends on certain factors. Such factors influence the buying behavior and buying decision of all the chocolate customers. Since chocolate is a product consumed by masses, and normally available to most people, the fact remains that in the chocolate market purchasers always look for various products and seem to demand it in accordance with their own taste. Often, chocolate products are provided whenever there is an occasion such as Christmas; thus, a society where chocolates are important consumables, then chocolate becomes a major focus of all the chocolate producers. Sometimes, consumers of chocolates are influenced to purchase chocolates during such occasions.
Consumers become sensitive towards various factors of chocolates such as its melting, touch, its constancy in the mouth, and shape of the chocolate. Other factors such as ethical responsibility of the chocolate manufacturing firm and CSR affects the consumer buying decision of the chocolate customers. For instance, CSR of a firm includes environmental issue and legal compliance. This designates that in the manufacturing process, the product firm should strictly follow the rules and regulations made by the regulators operating within the industry. Likewise, the CSR of the firm compels its product consumers to have a serious mindset of the company and its products. There exist other social factors responsible for influencing the consumer buying behavior. Among these is the concept of religion, whereby religion dictates what consumers from a certain community consume. It portrays whether such products are good for consumption, or not, and the reasons for the same ( Mooij & Hoftede, 2002) . One interesting fact about chocolates is that, it can always be consumed by people from all religions worldwide. Additionally, many festivals in different religions tend to influence the consumer purchasing behavior of the chocolate products.
Psychological factor has also been measured and found to affect the consumption of chocolates, since health experts have asserted that excessive intake of chocolates is never recommend for human health ( Demirdijian & Senguder, 2004) . This implies that Hershey Ltd should focus on this factor and generate some helpful products, fit for the health conscious of people. Another influencing factor revolves around perception- since perception of consumers towards Hershey is what makes this company distinct from the competitors. In this firm, the perception of consumers regarding the chocolates is bound to affect the buying behavior of the consumer. The fact that Hershey has been in existence for over 100 years and had managed to do many social accomplishments and manufactured the bet delicious chocolates in the market, it must be recognized that this move has made Hershey build a firm perception about its chocolates. Due to the presence of this perception, consumers have always preferred Hershey products whenever they go to buy chocolates. Another instrumental factor is learning. Learning, in this context, refers to the build-up experience which consumers have already had with the chocolate product ( Chiu, Hsieh, Li & Lee, 2005) . The moment uses and enjoys the product, the next time he/she will always prefer. By looking at Hershey, it appears that consumers enjoy the variety of taste and they have the alternative of choosing the ones they like. Since Hershey customers have always enjoyed the chocolates enjoyed by the firm, this becomes a great milestone for the company. Besides the already mentioned factors, it is apparently clear that consumers’ attitudes, values and beliefs towards the firm assist the firm in enhancing its sales. Beliefs denotes the manner in which customers of a company think about its products ( Thrassou & Vrontis, 2009) On the other hand, attitude refers to consumer evaluation regarding the company products. A closer analysis of the attitudes and beliefs of clients of Hershey allows room for finding positive points for the firm. It is important to acknowledge that consumer attitude toward Hershey chocolate is very favorable and bound to assist building the sales of the chocolates.
Conducting a Survey
A survey had to be undertaken to analyses the buying behavior of Hershey consumers. The survey employed a questionnaire which comprised of questions relating to its consumers’ purchasing behavior. The survey sought to ask important questions about the perception of consumers regarding the Hershey Chocolate, most importantly their experience with the chocolates and their relevant experiences, plus their satisfaction level while using and enjoying the products of Hershey.
The results from the survey showed that al the chocolates manufactured by Hershey Company are healthier and tasty, and do provide a various alternatives to the customer. Regarding the questions touching on the experience of the chocolates, participants confessed than their experience is often excellent and they are likely to come and buy the chocolate products again and again, anytime and in the future. The factors that emanated from the survey which also impacted on the consumer purchasing decision include: the company’s marketing efforts, the variety of available products, the brand image of the mind of clientele, and the company’s strong product portfolio. After carefully asking about the post-situation of the involved clientele, the survey determined that al the consumers are fully satisfied with the product. They told of how the ingredients contained within the chocolate products are suitable in satisfying the taste and preference of the customers. It can be concluded that Hershey Chocolates has made enough history in terms of the milestones of the company’s growth. It is helpful to mention that the target market for this company is the youth category; who are always kept informed and updated about the promotional campaigns, new introduction of brands, and change of prices. This has assisted in maintaining the quality of products and sustaining effectual better marketing strategies. It can be said that Hershey Chocolates company shall continue wining the choice and heart of all the Chocolate consumers and will consequently spread to grow and become one of the leading chocolate providers, not only in the region, but globally.
References
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Demirdijian, Z.S., Senguder, T. (2004) ‘Perspectives in Consumer Behavior: Paradigm Shifts in Prospect.' The Journal of the American Academy of Business , 348-353.
Mooij, M., Hoftede, G. (2002) ‘Convergence and Divergence in Consumer Behavior: Implications for International Retailing.' Journal of Retailing , 78, 61-69.
Raaij, W.F.V., Strazzieri, A., Woodside, A. (2001) ‘New Developments in Marketing Communications and Consumer Behavior.' Journal of Business Research, 53, 59-61.
Thrassou, A., Vrontis, D. (2009). ‘A New Consumer Relationship Model: The Marketing Communications Application.' Journal of Promotion Management , 15(4), 499-521.
