Smucker’s Brief
Introduction
The J. M. Smucker Company is an American manufacturer of fruit spreads, ice cream toppings, beverages, shortening, natural peanut butter, and other products in North America. Smucker's is well known for its different varieties of jellies. Company’s headquarters are located in Ohio, U.S. Smucker’s aim at all six segment of the market and try to reach out to all the customers with their wide variety of product line. It enables them to have a strong hold of the market and have positive result in regards to different strategy they use. Also, they have their own strategies for lower performing products. Few of the major competitors are Kellogg’s, General Mills, Nestle and many more.
Product life cycle
As we know the product life cycle explains a brief progresses of a new product in market. This life cycle goes through four different stages (introduction, growth, maturity and decline fig. 1.1) and transmit with ups and downs in the marketing situation and therefore impacting the marketing mix. Smucker’s products were launched as an aid to the customer’s diet or meal. Jellies, spreads were launched so that people can placed them on the toast or bagels and enjoy the delicious taste to it at any time. [1]…show more content… 1.1
• Smucker’s was founded in 1897 and first product was sold out of horse drawn wagon which was apple butter.
• Company got incorporated in 1921 and reached new heights every year since then.
• Recently, the firm has capitalized on the health and wellness trend and produced a variety of sugar-free, low-calorie, and organic products.
• Over the last three years, the U.S. retail market has comprised an increasing share of the company's revenue, most recently over 70%
• J.M Smucker reported net income of $120.6 million, or $1.01 a share. In the same period last year the company earned $94.3 million, or 80 cents a