Essay Example on How will the change in the recipe of Nutella by Ferrero









How will the change in the recipe of Nutella by Ferrero have effect on the company revenue Talk to naval academy guy from shrine mont about navy Table of Contents Introduction 1 Methodology 2 SWOT Analysis 3 Globalization Nutella 3 Marketing Mix 4 Research and Findings 5 Conclusion 6 Bibliography 7 Appendix 7 TIME 8 Chicago Tribune 11 CNN Money 14 Ferrero website 20 Introduction Ferrero SpA is an Italian manufacturer of branded chocolate and confectionery products and it is the third biggest chocolate producer and confectionery company in the world Wikipedia Nutella is the first product of Ferrero The first version of Nutella technically came out around 1950 known as Supercrema and the name Nutella wasn t coined till 1964 Ferrero main website Ever since then Nutella has gone global making its presence in 55 countries Ferrero main website and have expanded on their different food options Ferrero SpA the creators of Nutella have recently announced that they changed the original recipe of their product Nutella The news about the change in the original recipe to Nutella angered many loyal customers in early November 2017 Their out lashes have been seen through Twitter The reason behind the decision of adding more sugar 55 9 to 56 3 tribune and powdered skim milk 7 5 to 8 7 tribune to the recipe was to gain more control over the production and supply of hazelnuts money cnn com This raised both sugar and powdered milk contents from the original recipe while lowering the fat content as well Time 

Many customers were not too enthusiastic with the sudden change in the recipe Methodology The methodology behind researching this topic was to find out the reason behind Ferrero changing their recipe The tools used to help find an answer to the question were the SWOT Analysis etc etc I searched on the internet to confirm with multiple reliable resources that Ferrero did in fact change their recipe to Nutella Then searched up the responses from the public as well My overall question is How will the change in the recipe of Nutella by Ferrero have an effect on the company revenue SWOT Analysis SWOT analysis is an acronym for strengths weaknesses opportunities and threats and is a structured planning method that evaluates those four elements of an organization project or business venture Wikipedia For my SWOT analysis I focused it on Ferrero s product Nutella I used past knowledge to construct my SWOT along with the Ferrero company website Globalization Nutella The Ferrero Group Website The effect of markedly increasing both international trade and cultural exchange Nutella is well known throughout the world and represented in 53 countries It started off in 1940 s in Italy During WW2 where there was a shortage of cocoa to produce chocolate Ferrero didn t know that his decision to add in a little cocoa with hazelnut would create something larger than he could have expected Ever since then Nutella has made a strong presence in countries such as South Africa US Japan Sweden etc 

Although it commonly known in Europe Nutella is quickly expanding worldwide with the increase of demand The globalization of Nutella creates an interdependent system for countries with High demands for the Nutella product Marketing Mix The marketing mix is a foundation model in marketing The marketing mix has been defined as the set of marketing tools that the firm uses to pursue its marketing objectives in the target Wikipedia Ferrero s most popular and well known product is Nutella Ferrero started off Nutella in Italy in 1940 s in Italy During WW2 where there was a shortage of cocoa to produce chocolate Since starting off in Italy Ferrero has their presence throughout the world The Price for 13 oz plastic container of Nutella in Walmart is 3 48 However in other stores they cost less Such as Amazon 2 67 and in Target 3 49 The price is roughly the same and relatively cheap compared to Hershey's chocolate spread Walmart 3 44 Amazon 3 82 and Target not available Research and Findings The Chicago Tribune supporting document 2 gave an explanation of the changes that Nutella went to anger loyal customers In the document they mention the other products that Ferrero makes such as Tic Tacs the specific of what they changed in the recipe and a little bit of their sales over the past few years My second source of information was from Time com supporting document 1 where they showed explained the reactions of customers and how Only time can tell whether the new recipe will hurt the sales My third source of information was from CNN Money com supporting document 3 which gave information on the reactions of more customers a little bit of history of Nutella and the reason behind the change in recipe My final source of information was from Ferrero Company supporting document 4 which gave a detailed account of the history of Nutella how Nutella is known globally when Nutella brand was first launched 1964 and how Ferrero is known for their reputation Conclusion Since word has gotten out about the new version of Nutella in early November 2017 it doesn't seem that customers are too pleased about it However we can t figure out if it has had much of an impact to the company's revenue since their financial reports are at the end of the fiscal year Their previous revenue was 10 3 billion Euros in August 31st 2016 Ferrero company website As the document 1 states Only time will tell if the new recipe will hurt sales

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