M&M's SWOT Analysis

SWOT Analysis of M&M’s

SWOT stands for strengths, weaknesses, opportunities and threats. It’s a simple, yet effective way of evaluating an organisations which not only makes sure you aware of your current surroundings but also helps you shape how you want your business or organisation to be.

M&M’s are hard shell coated chocolates that are highly recognisable and know worldwide. They are owned by The Mars Company and date back to 1948.

Strengths

·         Worldwide reputation, meaning the world recognises them and trusts the brand.

·         Part of The Mars Company, giving them back-up from other chocolates they make such as Galaxy.

·         Their marketing and advertising image is individual with sweets as characters.

·         Affordable chocolate that pretty much anyone can afford, making the sweets easily accessible.

·         Lots of varieties of colours, appealing to a lot of people and any occasion.

·         Personalisation of M&M’s, making gift ideas and for weddings, birthdays etc.

Weaknesses

·         Although M&M’s are the number one chocolate sellers, their adverts and marketing take cost a lot of money in comparison to other Mars products.

Oppurtunities

·         Having a worldwide market means that any new product they undertake will be instantly warmed to.

·         The M&M shops worldwide are not only shops but tourist attractions, increasing sales all the time and ultimately widening their consumer market which will be ready for any new products.

·         They have over 30 licences to create other products such as t-shirts, mugs, soft toys and figurines.

·         Advancements in technology- building up on their characters, developing more products.

Threats

·         Lots of competition everywhere from other confectionary and chocolate makers.

·         Their main competitors ‘Hershey’s’ are always creating new chocolate bars.

·         Increase and inflation of making chocolate could grow, making the chocolate more expensive, thus losing customers from their reasonable pricing.

Evidently, M&M’s are a huge company who must have gone through some SWOT analysis’ in their experience of building up their business. Weaknesses of them is something which I struggled on, as obviously they can’t have too many weaknesses as they wouldn’t be the great success that they are. The major threat to them, like any company, is their competition. Making sure that they come above bigger and better than their competition is something which businesses thrive upon. Finding customers that would rather go to their company than their competitors is vitally important. Their advertising strategy of using their sweets turned into characters is something that I have picked up on a lot, and something which I believe makes them stand out from the rest of the chocolate and confectionary world. Although it costs an awful lot more money than other chocolates in the Mars Company, which I have stated as a weakness, it’s an idea that has definitely worked in getting them recognition.