Ferrero Rocher Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Ferrero Rocher through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Ferrero Rocher Product Strategy:
Ferrero Rocher is the premium luxurious chocolate product of the Ferrero group which is usually given as a gift during special occasions. Its main ingredients are sugar, milk chocolate, cocoa butter, skim milk powder, butteroil, vanillin, palm oil, wheat flour, low-fat cocoa powder, sodium bicarbonate, emulsifier and salt. The Ferrero Rocher chocolate is a ball which has a number of layers. The inner most is hazelnut chocolate which is in the form of a ball inside which there is a hazelnut. This hazelnut chocolate ball is coated with a thin wafer shell. There is another coating of milk chocolate with bits of hazelnut in it on top of the wafer shell. The chocolate is wrapped in golden color foil having the Ferrero Rocher sticker. Apart from this, there are other products in its marketing mix which are offered. The offering is in boxes which may contain 3,16,24,28,30 and 42 pieces. The boxes which have been used so far have been of different shapes like bells, rectangles, pyramids etc.
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This concludes the product strategy in Ferrero Rocher marketing mix & strategy.
Ferrero Rocher Price/Pricing Strategy:
Below is the pricing strategy in Ferrero Rocher marketing mix strategy:
Ferrero Rocher is a premium product and hence is priced higher than the usual chocolates. The ingredients for example hazelnuts and the others used are expensive which add to the cost of the product.
Ferrero Rocher faces competition from companies like Lindt, Hershey, Cadbury and Nestle but inspite of being in a competitive market it prices itself apart from the rest which gives the brand a unique identity and puts it in the luxurious bracket. The prices may be slightly lower if purchased online as compared to the retail outlets. Ferrero Rocher being a premium brand does not offer any discounts to the customers. The marketing mix pricing strategy of Ferrero Rocher is thus a premium pricing strategy. It targets the upper strata of the society.
Read more about Ferrero Rocher
Ferrero Rocher Place & Distribution Strategy:
Following is the distribution strategy in the Ferrero Rocher marketing mix:
Ferrero Rocher is a prestige product and hence its availability is in select locations. It is available in malls and big supermarkets where the people who visit are from that strata of the society which can afford luxury products. Very few select retail outlets may sell these in upscale areas. Ferrero Rocher is also available online on ecommerce platforms and discount deals can be obtained only through these depending upon the individual sellers. The company has 22 production plants across 5 continents and sells the chocolate to 170 countries. The company employs Infolog GE and Skep Forecasting to strengthen and monitor its distribution network. These tools enable it to account for delivery schedules, demand, production etc. in an efficient manner.
All its factories are ISO 9001 certified which assures great quality.
Ferrero Rocher Promotion & Advertising Strategy:
The promotional and advertising strategy in the Ferrero Rocher marketing mix is as follows:
The way the Ferrero Rocher has been crafted is very appealing especially because of the golden wrapper. The chocolate is available in different types of boxes. The company sells it in boxes of the shape of Easter Bunny during Easter to convey the message. Bell shaped and pyramid shaped boxes are used for packaging it during Christmas. Thus, they promote Ferrero Rocher aggressively during festive seasons as it is considered to be a very sophisticated gift. The company advertises heavily on television in Italy. ‘Ambassador’s Reception’ is one of the classic adverts that it has had which made its return to TV in 2003. ‘Share the Magic’ was one of the successful campaigns it has had over the years. It has sponsored various events like fashion weeks and also the famous television show ‘Desperate Housewives’. Ferrero Rocher has separate Instagram and Facebook pages according to countries so that it caters to the festivals of those countries and puts up relevant posts in connection with those festivals. They also use print media like newspapers and also traditional channels like billboards in some countries. Hence this completes the marketing mix of Ferrero Rocher.
About Ferrero Rocher:
Ferrero was founded in the 1940s in Italy by Piera and Pietro Ferrero in the form of a pastry shop. It later transformed into a world-wide success because of its diverse products like Ferrero Rocher, Kinder Joy, Tic-Tac and Nutella which have been the favorites among the people ever since their inception.
The company has its manufacturing plants in all the continents and has a total workforce of around 33000 employees. The company recorded a turnover of 10.3 billion euros as of 2016 and is considered to be one of the most valued companies.
Browse marketing strategy and 4Ps analysis of more brands similar to Ferrero Rocher. The Marketing Mix & Strategy section covers 4Ps and 7Ps of more than 800 brands in 2 categories.
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