Published by MBA Skool Team, Last Updated: December 02, 2017
Marketing Strategy of Mars analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Mars marketing mix, help the brand succeed in the market.
Mars marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Mars Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Mars marketing strategy can be explained as follows:
Mars company is known for its chocolate and confectionaries products, but it has total six different segments that are Chocolate, Petcare, Wrigley, Food, Drinks, and Symbioscience. In each segment, the company offers a wide product portfolio in its marketing mix. In the chocolate segment, the company offers 29 brands in total that includes some of the famous chocolates such as Snickers, Dove, M&M’S, Galaxy, Mars/Milkyway, Twix candy, etc. Mars is a global leader in pet care segment. It offers world-class healthy products and services for pets. The top products and services in this segment are Pedigree, Whiskas, Cesar, Nutro, Banfield Pet Hospital, etc. Wrigley has five brands in its product line those are Wrigley’Spearmint, Juicy Fruit, Lifesavers, Double mint, and Altoids. In food segment, the company offers 12 brands which include Uncle Bens, Raris, Royco, etc. Mars drinks were introduced in 1973, and since then the company offers varieties of beverages like Flavia, Alterra coffee roasters, etc. Mars’Symbioscience is a kind of research and development platform wherein the company has recruited scientists from across the globe who work on preserving of cocoa flavanols; they developed a planted process to protect this flavanol called Cocoapro.
Mars Price/Pricing Strategy:
Below is the pricing strategy in Mars marketing strategy:
As Mars is into diversified businesses, each business or segment follows mid-premium pricing strategy because the primary target audiences for all the business segments are the people of all the age groups from Upper and Upper-middle class.
Mars company has given the independence to each business segment to choose the price of the products. All the business segments decide the pricing strategy after considering various factors such as production cost, marketing, and distribution, advertising, etc. Since this company follows mid-premium pricing strategy in its marketing mix, this approach is beneficial in maintaining the quality of the products at reasonable price. This strategy helps in keeping the competitive edge with its main competitors.
Mars Marketing Strategy comprises of not only its Marketing Mix, but also segmentation, targeting, positoning, competition and analysis like SWOT. Also read Mars SWOT Analysis, STP & Competitors
Mars Place & Distribution Strategy:
Following is the distribution strategy in the Mars marketing mix:
The excellent point about Mars is that it is not having headquarters in one country. It has distinct headquarters for the different business segment in different countries. Mars’ chocolate segment is headquartered in New Jersy, U.S., Mars’ petcare segment is headquartered in Brussels, Belgium. Likewise, the company has distributed its business segments in different countries which helps in targeting the potential customers according to their demographics and geographics. Mars has a robust distribution channel throughout the world because it has many manufacturing units located around the globe. The Main distribution channel is through distributors, which is the primary mode of the products to reach out to the target consumers.
Mars has partnered with some big retailer giants such as Walmart in the US, Tesco and Lidl in Europe, Big Bazaar and Hypermarket in India, etc.
Mars Promotion & Advertising Strategy:
The promotional and advertising strategy in the Mars marketing strategy is as follows:
Mars chocolate positioned in the market as “A Mars a day helps you work, rest and play.”.This tagline builds the image of the product as healthy and energy giver product. The company uses various taglines, slogans to position its products in the target market. The promotional activities include both offline and online campaigns. In offline promotions, Mars uses tv, media, advertisements, newspaper, etc. for the different business segment to reach out to maximum customers. The online advertising of Mars chocolates has been done through various social media platforms, through the website, etc. The company has a very user-friendly website which tells about what they do, who they are, what their principles are, etc. and they have websites, facebook page for each and every products Mars has tied up with a multiple of e-commerce sites in different countries to show the visibility in online selling platform. For various products in each business segment has its advertisement campaigns which include online and offline promotions. Hence this completes Mars marketing mix.
Founded in 1911 by Frank C Mars, since then the company is making chocolate confectioneries. Mars is a family owned business with more that one hundred thousand active associates over eighty countries. Since the inception, the company has remained the family-owned business with the dedicated associates who are guided by the five principles of the company: Responsibility, Mutuality, Freedom, Quality, and Efficiency. These five principles inspire the company to give its best every time.
Mars just not only makes chocolates but also it is in different businesses such as Petcare, Wrigley, Food, Drinks, and Symbioscience. The main competitors of this company are Hershey’s, Nestle, Cadbury, Kraft foods, Drools, etc.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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