The Hershey Company experiences significant competition
The Hershey Company is forced to contend with extensive competitive from other companies that also produce confectionery products. However, the company has gained significant acceptance from many consumers and one of the top brands selling in the North American and some global marketplaces. Moreover, the company’s competitors include numerous global multinational and national firms, in addition to firms that are regional and local. More specifically, some of these companies have large operations across international regions, as well as many resources that give them a competitive edge. Overall, competition is formed on the basis of price, brand loyalty and recognition, convenience, service, marketing and promotional activity effectiveness, product quality, product innovation and the ability to identify and meet consumer expectations.
Competition|ESG|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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