Himanki Saluja

ANALYZING THE BRAND STRATEGY OF Himanki Saluja Competitive Analysis ➢ Indian chocolate market grew strongly at a CAGR of 12.8%. The figure below shows the players by market share. Hypothesis question Is Hershey's kisses consumer perception in line with company’s positioning and promotional strategy? Data collection ➢ The Indian chocolate confectionery market is expected to continue to show strong growth in the coming five years. o Performed Structured interviews with 15+ respondents o Used Stratified random sampling o Surveyed 94 respondents Advertisement of Hershey’s Kisses Consumer Survey Highlights WHERE RESPONDENTS PRIMARILY BOUGHT CHOCOLATES FROM WILLINGNESS TO SPEND ON CHOCOLATES Supermarkets Online Stores 56% 63% Kirana Stores 12% 6 7 13 14 Females 12 13 12 17 Males ₹51 - ₹70 ₹71 - ₹100 > ₹100 EVERYDAY ONCE A WEEK ONCE A MONTH ONCE IN 3 MONTHS 15% 9% 12% 29% 32% HOW OFTEN THE RESPONDENTS BOUGHT CHOCOLATES 4% LESS THAN ₹50 ONLY DURING FESTIVALS MISCELLANEOUS Factor Analysis Appropriateness of Factor Analysis KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure Bartlett's Test of Sphericity .825 Approx. Chi-Square 209.742 df 28 Sig. .000 • Customer Personal choice (Factor 1) – Taste Sensitivity, Quality Sensitivity and variant sensitivity • Value for Money (Factor 2) – Price Sensitivity, Size Sensitivity and variant sensitivity • Health Quotient (Factor 3) – Nutrition Sensitivity, Size sensitivity (Effect of unforeseen situation like Pandemic) • 0.825 indicates that factor analysis conducted on the survey data is appropriate • Bartlett’s test chi-square high value at confidence level of 95% reflects variables are uncorrelated Rotated Component Matrixa Component 1 2 Price Sensitivity .507 .660 Taste Sensitivity .777 -.032 Quality Sensitivity .837 .029 Brand Sensitivity .768 .151 Size Sensitivity .560 .284 Variant Sensitivity .789 -.109 Nutrition Sensitivity .168 .082 Spend .225 -.831 Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. a. Rotation converged in 5 iterations. 3 -.213 -.023 .067 .177 .358 .168 .906 -.275 Segmentation on basis of consumer response Need State Rank Demand Occasions Reason For self-treat consumers prefer having bar chocolates than individually wrapped chocolates. From primary research we found that most of the consumer’s favourite chocolate is bar chocolate (Cadbury Dairy Milk Silk, KitKat, Snickers etc.) Self-Treat 3 Celebration, Achievement, Stress-Buster/Mood Elevator Temptation 5 Visual Trigger As per the consumer insights this was the lowest voted point 2 As a snack, Post Meal dessert, Mood Reliever As the size of the chocolate is small, it can be consumed as an alternative to sweet post meal Enthusiasm to try something new Considering the cost of the chocolate, consumers generally won’t prefer buying Hershey’s Kisses for experimenting. Based on the consumer responses received, most of them are not willing to experiment Celebrations (Festival, Birthday, Anniversary) Small size, packaging style and unique shape of the chocolate makes it a best fit for gifting/sharing segment Satisfying taste buds Experimenting Gifting/Sharing 4 1 Conclusion and Recommendations • There is difference in perception of Hershey’s Kisses • Factors contributing to this include packaging, advertisement, pricing, shape, lack of availability in stores. • To leverage upon their strengths, they should focus more on gifting category, try to make it available at all stores and rework on positioning. Parameters Hershey’s Kisses (1-10) Availability 5 Uniqueness 6.5 Believability/Brand Trust 8 Value for money 7.5 You can’t sell anything… If you can’t tell anything -Beth Comstock