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Transcript of Ferrero Rocher
-The color gold; "Make Your Moments Golden"
-"Classy" music Their main competition includes Lindt, Nestle, Mars, Nabisco, Cadburry, Hersheys and especially Toblerone.
Ferrero Rocher costs approximately 10$ per 10.5 oz package while Lindt costs 10$ for 7 ozs and 2.78$ for 10 ozs of Cadburry chocolate.
Ferrero Rocher is less accessible than most other chocolates; it is not found in vending machines. However, it can be purchased in supermarkets, convenience stores and gas stations.
The values of Ferrero Rocher are based upon excellence, reliability, trust, integrity and professionalism. These values were part of Pietro Ferrero’s original vision. Ferrero’s original goals are to create value for the community and to create value for the company. Their goals have since expanded to incorporate a global vision of social and environmental responsibility.
Ferrero is committed to providing a supportive workplace where employees can grow. They offer many services to their employees such as social activities, work/life balance planning, as well as medical support. MISSION
“High quality, crafted precision, product freshness, careful selection of the finest raw materials, respect and consideration for our customers.” Supply Chain Strengths Strong global penetration
High brand recall
Favorable country of origin effect
Limited time, exclusive, product extensions
More focused than competitors Weaknesses Too available in certain markets!
Not priced as a luxury product
Difficult to truly associate luxury with chocolate
Inconsistent product placement in stores
Limited interaction with consumers - Opportunities
Sold in specific chocolate stores (perhaps their own ie. airport)
Increase prices, luxurious image, more profit
Become a gift for non-Christian holidays
Push luxurious dark chocolate for health concerns
Chinese economy Threats
People more health conscious (all the more reason to push dark chocolate)
When economy's poor people may not want to purchase expensive chocolate
Competitors, Lindt chocolates
Family run business, Eaton's Building a Luxury Brand
Know who you are: DNA
Confidence and Pride
Look the part
Product still has to be of quality
Must be advertised as a luxury Alternative Outlets
Kiosks in malls
Own sections Family Business Ferrero and Eaton's?
Humble beginnings and deep history
Failure to adapt to changing environment
Forgot its DNA
Sense of entitlement
Lack of formal board of executives
Poor corporate governance
ineffective family-family communication Contd: Building a Luxury Brand Limited availability
Product taste alone cannot sustain luxury
Confusion between where product is sold, and the image portrayed in commercials
Build on social/corporate responsibility, or charity Ferrero Rocher is a brand of the company Ferrero SpA who owns many other brands such as Nutella and Kinder. The CEO of Ferrero SpA oversees all of the brands, including Ferrero Rocher.
Ferrero has 18 factories and approximately 21,500 employees.
Ferrero has manufacturing factories and administration/sales offices on every continent. Putting it all Together New pricing strategy
Compatibility in choice of outlets
Additional investments in advertising
Communicate pedigree and persona to consumers, while keeping the luxury image Enjoy Your Alternative Outlets Current Outlets http://www.businessweek.com/magazine/content/10_04/b4164036499160.htm http://ferrerorocherusa.com/history-timeline.php walmart.com http://www.youtube.com/watch?v=GpZSP-pC5Bs These elements suggest that Ferrero Rocher is not intended for everyday consumption; it should only be enjoyed on special occasions.
Ferrero Rocher is often advertised as a seasonal holiday brand.
Unlike many of their competitors, Ferrero Rocher does not target children in their advertising. www.youtube.com/watch?v=TVblWq3tDwY Ferrero Rocher emphasizes their Italian roots.It is a family run business; every Ferrero CEO has been a direct descendant of the founder, Pietro Ferrero. They are very proud of their traditions and values that are being passed along due to the fact that every CEO is part of the Ferrero Family. http://www.ferrero.com/the-group/ferrero-worldwide/an-international-group/ http://www.ferrero.com/social-responsibility/code-of-ethics/reliability-trust/ http://www.ferrero.com/social-responsibility/code-of-ethics/reliability-trust/ http://www.ferrero.com/social-responsibility/code-of-ethics/reliability-trust/