Mars SWOT Analysis Analyzes, Mars Company has been making some of the most popular and beloved candy bars and confections for as long as most of us can remember. They are known around the world for beloved items like the Mars Bar, Snickers, M&M’s and so many others. However, they are also suppliers of more than just candy. Mars also owns multiple popular pet food brands, as well as the Wrigley Company and several other brands. The history of the Mars Company and their products is a fascinating journey through the land of sweets.
Did You Know? The Mars Company Also Owns Pet Food Brands Pedigree And Whiskas.
Mars was founded by Frank C. Mars and is a company that is known for the confectionery items that it creates, such as Milky Way, M&M’s, Twix, Skittles, Snickers, and the Mars bar. … The Mars Candy Factory he started in 1911 with Ethel V. Mars, his second wife, in Tacoma, Washington.
This can only be achieved through a firm with extensive knowledge, experience and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities and threats, it is necessary to conduct a SWOT analysis by Mars.
Mars At A Glance – Mars SWOT Analysis
Company: Mars, Incorporated
Founders: Franklin Clarence Mars
Year of establishment: 23 June 1911, Tacoma, Washington, United States
CEO: Grant F. Reid
Headquarters: McLean, Virginia, United States
Employees (Dec 2020): 130,000
Ticker Symbol: MNBP
Type: Public
Annual Revenue (Dec 2020): US$20 Billion
Profit net income (Dec 2020): US$3.7 Billion
Products & Services: M&M’S® SNICKERS® | TWIX®, MILKY WAY® | DOVE® | PEDIGREE® | ROYAL CANIN® | WHISKAS® | EXTRA® | ORBIT® | 5™ | SKITTLES® | UNCLE BEN’S® | MARS DRINKS | COCOAVIA® | Chewing gum | Mints | Fruity confections
Company Website: www.mars.com
Top Mars Competitors
Competitors: Hershey | Cloetta | Mondelez International | Nestlé | Blue Buffalo | Storck | Perfetti Van Melle | Chocolat Frey AG | Kraft Heinz | Lindt & Spruengli | Conagra Brands | Russell Stover Chocolates | Ferrara Candy | Tootsie Roll
Mars SWOT Analysis – SWOT Analysis Of Mars
SWOT Analysis Of Mars analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Mars SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Mars SWOT Analysis. Below Is The Detailed SWOT Analysis Of Mars.
Mars Strengths – Mars SWOT Analysis
1. Geographical existence: Mars has a significant presence in the world and has operations in more than 78 countries worldwide. Mars Chocolate is present in over 21 countries and Mars Petcare in over 50 countries. Mars is expanding its operations to new markets that help reduce risk of business.
2. Initiatives for sustainability: Mars is establishing its own sustainable objectives for the coming years among them the elimination of greenhouse gases from Mars operations in 2040. The company has also established goals for efficient use of water as well as cutting down on waste creation. These initiatives assist the business to achieve its long-term sustainable goals and decrease its operating costs.
3. A robust portfolio of products Portfolio: The Company has a wide range of well-known products within the area of Petcare and also in the chocolate industry for example, in the Petcare sector Pedigree, Royal Canin, Whiskas etc. as well as in the chocolate sector Mars, Galaxy, and Snickers among others. Mars is a reputable brand with a wide range of drinks category, as well. With a strong portfolio of products across different categories, Mars has a wide variety of customers to choose from and further expand its market share.
4. The focus is on offering nutritious items: Mars has focused on creating healthy pet food as well as chocolate-based products. Mars has been focusing on reducing calorific value of its products. There is a lingering need for healthy products since consumers are becoming more conscious of their health across the globe.
Mars Weaknesses – Mars SWOT Analysis
1. Recalls of products hamper images: Mars has had many controversies about its products. There have been a number of recent occasions where Mars was forced to recall its products, for example; In June of 2016, Mars had to recall certain of its chocolate items within North America. These kinds of incidents, especially within the category of consumer products impact the image and business of the company.
2. Opposition for the use of animal rennet: Mars has faced plenty of protests for making use of animal rennet for its products. This creates negative perceptions of Mars. Especially, vegans who have opposed the use of animal Rennet in Mars the products.
Mars Opportunities – Mars SWOT Analysis
1. The growth of the confectionery industry: The confectionery market has experienced positive growth worldwide in the recent past and is likely to expand at a rapid pace in the near future. Mars is expected to benefit from the expansion of the confectionery business.
2. Growing Petcare business: The Petcare industry all over the world has experienced slow but steady growth. Mars is one of the biggest Petcare food producers worldwide is well placed to capitalize on the chance which has been created.
3. Enhancing lifestyle for emerging market: In the context of a growing lifestyle, Petcare and the confectionery sector, is expected to expand quickly in these markets, particularly within India as well as China. Mars is well-equipped to satisfy the demands that are created by the emerging economies.
4. Blending Mars with Wrigley companies: In October 2016, Mars announced merging its operations with Wrigley and Wrigley, to create Mars-Wrigley Confectionery. This will enable the company increase its market share as well as provide greater products and boost its bottom line.
Mars Threats – Mars SWOT Analysis
1. A fierce competition in all different categories: Mars is subjected to competition in the categories of its products. In the Petcare segment, for instance, the brand is facing competition from PetSmart with a range of items in the category. In the confectionery industry, it faces competitors from Mondelez International, Nestle and Hershey’s among others. This competition enlarges the market’s share and triggers price wars that impact the profitability of the company..
2. Increased Health consciousness: There is a growing awareness of health throughout the globe , especially in advanced markets. While, Mars has focused on decreasing the calorific content of its products, the growing awareness could divert the attention of consumers’ attention to other products, which is why it remains a risk.
3. Rising wage levels across the US: Labour wages are increasing across the US have increased in recent years , leading to the overall growth in production and transportation costs for Mars.
This is the SWOT report that Mars has done. Please let us know if you have additional suggestions to add.
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