Mars CEO Breaks Down The Transformation Of The $35 Billion Company
Business Insider・2 minutes read
Mars, a family-owned company, is expanding its portfolio by partnering with Kind and acquiring pet-care businesses to cater to changing consumer preferences, focusing on innovation, sustainability, and digital engagement to meet the demands of millennials and Gen Zs. They are investing heavily in sustainable energy and collaborating with various entities to drive positive change while adapting their products and marketing strategies to align with consumer trends.
Insights
- Mars has diversified its product portfolio by partnering with Kind for nut-based products and acquiring pet-care businesses like VCA and Banfield, aligning with changing consumer preferences.
- Sustainability is a core focus for Mars, demonstrated by significant investments in sustainable energy generation and collaborative efforts with various entities to drive positive environmental impact.
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Recent questions
What products does Mars produce?
Mars produces confectionary products like Snickers, Skittles, Starburst, Twix, as well as pet foods like Sheba, Whiskas, and Pedigree.
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Summary
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Mars: Family-owned confectionary innovating for sustainability.
- Mars, a family-held company for over 100 years, is known for confectionary products like Snickers, Skittles, Starburst, Twix, Sheba, Whiskas, and Pedigree pet foods.
- In recent years, Mars has expanded its portfolio by partnering with Kind for nut-based products and acquiring pet-care businesses like VCA and Banfield to keep up with consumer trends.
- The company's growth strategy focuses on identifying opportunities in adjacent areas due to shifting consumer preferences, particularly among millennials and Gen Zs.
- Gen Z consumers seek transparency, healthier options, and immersive experiences, leading Mars to innovate within core products and introduce new offerings to cater to their preferences.
- Mars is leveraging digital commerce and social media to interact with consumers in new ways, such as offering personalized M&M's and creating immersive experiences like the M&M's store in Times Square.
- Sustainability is a key focus for Mars, driven by family ownership and a long-standing commitment to environmental responsibility, with $1 billion invested in sustainable energy generation.
- Mars aims to build a coalition for change in sustainability efforts, collaborating with companies, NGOs, and governments to create a positive impact.
- Mars is adapting to consumer trends by offering portion-controlled treats, premium experiences, and innovative communication strategies, like the successful "You're not you when you're hungry" campaign for Snickers.
