b.

Recommended Strategy

We recommend that Hershey should try to enhance its market share through great
marketing efforts for its present products and increasing the sales volume of its existing products
by focusing more on the marketing efforts in the current markets. At the same time, they should
also launch their existing products in newer markets or geographical regions, enhancing their
international presence in the global market.

VII. Conclusion and Recommendation

Based on the CPM analysis, it shows that Hershey is well-positioned against Mars
but slightly behind Nestle, in part because of Nestlé’s market share and global footprint.
However, Hershey is in a good position in terms of product quality and customer loyalty.
The EFE Matrix reveals that Hershey did not effectively respond to the external
environment by taking advantage of the opportunities available for them and did not do
enough courses of action against the negative impact of threats. While the IFE Matrix
shows that Hershey has a secured internal position, which means that they have
capitalized on their strengths and handled their weaknesses well despite the high debt and
costs they face.

Hershey could consider the following alternative strategies to cope up with

several of their weaknesses and threats: Increase advertising outside the U.S. to keep
getting their name out there even though it is already well-known. To have their existing
and new products become successful and known outside the U.S., they need to advertise,
which would include: commercials, online advertising, billboards, and print ads.
Advertisements should center on their premium chocolate, along with the new lines that
come from research and development. Use the health benefits of dark chocolates in
marketing the products of the company and will increase Hershey's sales and have a
positive effect on its public image. 

The developed alternative strategies is to counter the common weaknesses and

threats of Hershey that we have determined. Hershey has a settled business technique.
The business-level strategy for the Hershey Company centers on a joined ease procedure
and separation. However, to remain a cost pioneer and also to have a separate product
offering, they should adjust rapidly to change and innovations. Besides, there could be an
indication of market immersion inside the chocolate business since income development
has been stable for the largest chocolate maker.

As of late, Hershey has taken several huge strides to expand its organization and
extend its range beyond what most would deem feasible. In the unlikely outcome that
they need to hit their maximum capacity, the best solution to accomplish their mission
will be their company strategies. By focusing on a well-coordinated cost administration
separation methodology, the company will take the opposition by the store with new item
contributions at unfathomable value focuses. Furthermore, wandering into showcase
organizations will enable Hershey to achieve purchasers of all zones, tastes, and
foundations. So, they can surprise the confectionary market and take a significantly
greater acquisition on the piece of the overall industry.