Published by MBA Skool Team, Last Updated: January 07, 2018
Marketing Strategy of Snickers 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 Snickers marketing mix, help the brand succeed.
Snickers marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Snickers Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Snickers Product Strategy:
The product strategy and mix in Snickers marketing strategy can be explained as follows:
Snickers is a popular chocolate brand available world over. Snickers falls into chocolate confectionery category, and it has ingredients such as nougat, peanuts, and caramel dipped in milk chocolate. Snickers promises satisfaction to the customers from hunger. It is a chocolate bar, but it is marketed as a snack bar. It has a wide range of product portfolio in its marketing mix with many variations like Snickers Munch, Snickers Mini, More Choc, More Caramel, More Nuts, X-treme, Snickers Duo, Marathon Energy Bars and much more. The caloric value of 25gms bar is 124Kcal, and 50gms is 248Kcal. The parent company understood the needs of vegetarian chocolates in the Indian market. So specifically, they launched the chocolate bar with a green veg symbol on it. It began mini toffees to target the consumers in the bottom of the pyramid and to compete with the competitors like Nestle Eclairs, Cadbury Choclairs, etc.
Snickers Price/Pricing Strategy:
Below is the pricing strategy in Snickers marketing strategy:
The Brand Snickers positions the target customers in all age groups in the society, at upper, middle and upper classes.
It is considered as a health club with nutritional value and guarantees good taste. The Snickers brand is famous because of its melting of the oral cavity. It has adopted a mid-range pricing strategy in its marketing mix for its high-end products like Snickers almond bar, Snickers More Caramel, X-treme, etc.The company has kept product prices within acceptable limits so that people can make purchases easily. Reasonable prices and pocket-friendly prices have led to more significant sales and ultimately bring better income figures. For example, Snickers offers $1 for 25gm bar and $2 for 50 gm bar, which is very nominal as per to the competitors. Among the various pricing strategy, they came up with price bundling strategy that offers buy four 50gms bar and get one free. They provide excellent margins to their big retailers such as Walmart, Tesco, Lidl, Big Bazaar, etc. so that retailers could also do price bundling. The launch of Snickers Mini for Rs. 140 for 150gms in the Indian market was a great decision made by the parent company which gave a straight competition to the companies like Nestle and Cadbury which offers Eclairs and Choclairs in toffee segment.
Following is the distribution strategy in the Snickers marketing mix:
Snickers caters to the global market and extends its product offerings to many countries like Italy, Portugal, Israel, Slovakia, Bosnia, Austria, Poland, Egypt, Romania, Germany, Latvia, New Zealand, Hungary, Norway, India and many more. Snickers launched in India in the year 2004 and targeted the masses with the perfect strategy of starting vegetarian section. The marathon is marketed in Ireland, Isle of Man and the UK, but the bar is now sold under a single name since 1990. It has a widespread and robust network because it requires the help of Mars to distribute its products successfully in the consumer market. Its channels include services for wholesalers and retailers, reaching consumers through grocery stores, vending machines, convenience stores, pharmacies, department stores, malls, airport stores and discount stores. Not only offline distribution, but also a variety of Snickers products are also available on e-commerce website like Amazon, Flipkart, Paytm, etc.
that has helped the brand to expand its reach and increase its market share.
Snickers Promotion & Advertising Strategy:
The promotional and advertising strategy in the Snickers marketing strategy is as follows:
Snickers as a brand have created a high brand awareness with the help of some, mindblowing commercials with a great sense of humor. Snickers launched several innovative and creative ads on television with some renowned actresses such as Rekha and Sonam Kapoor, and it promoted the brand on various offline platforms also such as newspapers, magazines, radio, billboards, Hoarding and through the electronic and print media. Also, Snickers conducts product campaigns with social media platforms such as YouTube, Facebook, and Instagram. The promotion of the product with a tagline “Who are you when you are hungry?” on both the offline and online media is a big hit, this type of advertisements made the brand awareness of the powerful impact of celebrity power. One of the most extensive advertising campaigns featuring Betty White and Abe Vigoda was a huge success and was named the best commercial of the year. The parent company has entered several sponsorship agreements for Snickers and have become the official Sponsor of many events like Fifa World Cup, WWE’s WrestleMania, UEFA European Champions, etc. This concludes the Snickers marketing mix.
Snickers is a child company of a famous chocolate brand named Mars. As it is a subsidiary of parent company Mars Incorporated, Snickers entered the market in the US in the year 1930, and It got established as a brand that offers both nutritious and fulfilling chocolate products. It faces competition from multiple competing brands and their products, some of which are the bounty, Cadbury, five-star, Mars chocolate bar, Nestle chocolates and many more.
It’s been sold in more than 100 countries and globally the annual sale is around $2 billion. Snickers has an enormous number of product lines varies from one geographical area to another.
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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