Chocolate

Introduction

Since 1990s, both Mars Inc and Ferrero are one of the most well-known family owned businesses of their confectioneries manufactures industry, especially of their chocolates. Both companies have made their products brands well known to almost every corner of the world along the years.

Both companies have been coming out with new products such as M&M and Ferrero Rocher, as well as venturing out to several parts of the worlds. Although both companies have some similarity and they are both successful due to certain several factors that we would look into later. Mars Inc seen to be more competitive than Ferrero, in terms of their overall company business, net sales as well as the amount of factories in the world.

The very first Mars candies started in Tacoma, Washington, USA in 1911 by Frank C. Mars. In 1920, Frank C. Mars moved to larger quarters in Minneapolis, Minnesota. After three years, Mars successfully introduced a new candy bar, the “MILKY Way” and it was an instant success with a sales that hit up to $793, 000. Currently Mars ranked as the third largest private company in the United State with $33 billion in their global revenue last year. (Kaplan et al. 2013). Mars has been ranked 95 on the Fortune 100 best companies to work for in the year 2013. (Mclean, 2013).

On the other hand, Ferrero was founded by Pietro and Giovanni Ferrero in 1946 in Alba. In 1950, Ferrero expanded their operations outside Europe. In 2011, Ferrero was comprised of 72 affiliated companies with 38 business unit, 15 production plants, 3 enterprises and Ferreros’ product have been taken up by more than 100 outlets in the world with a turnover of 7,218 million Euro, which was an increment of 9.1% over the previous years. (Ferrero, 2009)

In this essay I will do an analysis of what causes the success of these companies and what can be done to further improve the companies.

Key Success Factors of MARS

These are some of the factors that...