Since 2010 the charity of immigrants coming to Canada are from the Philippines, India and China immigrant population is steadily increasing with majority of it immigrant accepted coming from Asia and the Middle East. Canada’s population is aging, 15.
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3% of the population was over the age of 65, as opposed to only 7. 6% in 1960. The number of Canadian seniors is rapidly increasing. Since July 1, 2011 the senior population grew at an annual average rate of 4. 2%, compared to the annual average rate of 2. 8% for the previous five years. Fewer Canadians are having children. From 2006 through to 201 1, ore families without children have been recorded than house with children.
1. 2 Economic Economist are forecasting growth for the Canadian economy. Overall the economy is expected to grow by 2. 4% this year and by 2. 7% in 2015. This is following economic growth in the third and fourth quarter of 2013. Average income for Canadians is increasing. Between 1995 to 201 1 families with income in the bottom 20% saw an increase of 12.
7% in their income, while families in the middle 60% saw an increase of 23. 2% and those in the top income group saw an increase of 40. %. Canadians spending patterns have hanged significantly over the last six years. They are more saving conscious and are look for greater value for their money. 1. 3 Natural Air pollution is becoming a concern in Canada. There has been a dramatic increase in pest and disease that affect cocoa plants, which are used to make chocolate.
Climate in Canada varies across its landscape, from permafrost in the north to four seasons further south, however it is not a tropical climate making cocoa production impractical. In Canada dairy is produced under strict guide lines. In September 201 3 the government revised the Canadian Dairy Regulations and Codes of Practices or the care and handling of dairy cattle as a guide to dairy farmers to ensure safe production of milk.
The Dairy Farmers of Canada was established 1934 (originally under the name Dairy Farmer’s Federation in as the spokesperson for dairy farmers in Canada. 1. 4 Technological As of 2012 Canada has 83% penetration for internet access, compared to twelve years earlier of only 40.
3%. More and more Canadians are using television services such as Nettling, to access their favorite TV shows. However not many have inscribed from their cable service. According to Duncan Stewart, director Of research at Dolomite in Toronto “ Virtually nobody n Canada is actually stopping paying for TV,” More seniors are using smart phones.
They have become the fastest growing demography to adapt to this technology. Dutch researchers have come up with first ever thin-film radio frequency identification (REID), which means RIFF tags could replace bar codes on food packages. 1. 5 Political Despite the international Sugar Agreement which has been in effect since 1903, Sugar and cocoa are still subject to rapid changes in price. Actuation in Provincial and Harmonize Sales Tax will affect cost of food from province to province.
Increasing need for companies to be socially responsible. Recent amendments to the Food and Drugs act as the government continues to restructure regulations are administered. 1.
6 Social/Cultural There is a growing awareness and acceptance in green consumerism among Canadians, even though participation in the movement varies across the board depending on age, ethnicity and location. Patriotism has been increasing steadily for the past two decades in Canada. A Survey done by Ipso Reid, shows that 80% of Canadians consider themselves Canadian nationalist, up from 72% before the 201 0 Vancouver Olympics (Armstrong, et al. , 2013). With the increasing influence of varying ethic/cultural groups in Canada, public policy has seen a move toward integration rather than assimilation. 1.
7 Competitive Hershey Co. Nearest competitors are in the confectionery market is Mars Inc. And Nestle Co. Hershey has a 43% market share making it the leader in the chocolate maker market. SOOT Analysis Strengths Weakness Market Leader with largest share of market (43%) Has a wide variety of chocolate bar brands (Milk Chocolate, Cookies ‘ N’ Cryme, Symphony). Licensed to sell many of the top confectionery brands.
Emphasis on research on development. Generally recognized as selling quality brands by consumers. Litigation and suits against Hershey, especially recently for allegation of colluding with other confectioner makers to drive of prices of certain products. Not enough reach in the Canadian Market. Most of market sales is from the United States.
Lack of innovation in advertising. Not enough visibility in media for Hershey chocolate bars. High dependence on point of sales displays, to attract consumers. Hershey has been criticized for lagging behind it competitors in fair trade programs and not engaging more in sustainable and ethical cocoa purchases. Opportunities The reads Growing Asian consumer market that Hershey can target with specialized offerings.
Growing health consciousness, which Hershey can use to promote healthier brands (dark chocolate as opposed to milk chocolate). Being that Canadians very patriotic, this is an opportunity to take advantage of patriotism in their marketing. Room for growth in the Canadian market. Acquisition of similar companies. Very competitive market with many other companies offering similar products (Mars, Kit Kate, Catbird. Fluctuating price of cocoa used to produce chocolate, a cost that that may be passed on to consumers. Tariffs on imported raw materials used to make chocolate. Growing presence of smaller private label brands.
Increase in sales taxes. 3 Analysis Impact 3. 1 increase in Asian Demographic in Canada.