New Products are important to sustain growth , increase revenues and profit, and replace obsolete items. A product can be new several ways either to the world, to the market, to the producer or seller, or some combination of these. Hershey usually takes part it extending their existing product lines such as with their newest product Hershey's Air Delight bar which is based off the classic chocolate bar.
In the early to mid 2000's Hershey consistently debuted 200 new products every year according to consumer product tracker Mintel. In 2008 only 146 were debuted and the numbers dropped to 40 in 2009. Then they began to implement a tool on their website in which they ask their customers what their ideas are for new product are. This has helped them develop new products that such as Bliss and their pieces line.
Unlike their competitors such as Mars and Nestle, Hershey has fallen behind in the development of new products lines instead just like their new marketing strategies that focuses on their core brands any new products are going to be additions to top existing brands with in the company this is the strategy that has helped the company survive through out the recession. A larger part of their band history is to be innovative and its time that Hershey has a break through moment with a new innovate product. As they have done in the past with Kisses.
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