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The policy product: The candy Ferrero Rocher was launched in 1982.
Everything has been implemented in the physical aspect of the
product and its packaging through its gold colour in order to
encourage people to purchase. It is composed of a whole hazelnuts
soaked in chocolate, surrounded by a crispy wafer covered with small
pieces of chocolate.
Ferrero invested massively in machineries and new technologies in
order to keep its originally We do what others have not yet done. In
addition, the secrecy of the patents is also well conserved: Any new
product invented by Ferrero laboratories is industrialized by its
subsidiary. The products Ferrero benefits from more than a long cycle
and are almost in phase of maturity.
The policy of price: The Ferrero Group purchased 90% of the Turkish
production of hazelnuts because they are the best
Multiple factors explain the high cost of Ferrero products. First of all,
there is a historical factor: their products are almost always the first
appearing in the different segment market that they desire, and they
become successful.
Therefore the group can afford to set a higher price. Then there is a
quality factor that must be remunerated. The products Ferrero, for
having this inimitable taste, are composed of the best ingredients. In
addition, being a group strongly focused on innovation, Ferrero
supports important costs of R&D. (Research and Development costs)
Finally, the Ferrero products are often in a situation of quasi-monopoly
on the segments that they occupy. There is absence of competition;
by the costs therefore they are free to fix their own prices due to the
absence of substitutable products having the same quality. The
products of the Ferrero Group are therefore related to top of the range
products who seduce yet even low income families.