Mars: Coronavirus (COVID-19) Company Impact reports key findings as of April 15, 2020 based on market analysis and brand diversification by industry and geography.
Mars may witness a significant reduction in its overall sales; however, the product diversity of its brand may reduce the losses incurred due to COVID-19. Some staple categories could well benefit, but as these constitute a very small share in the company’s revenue it may not have a huge impact. The company needs to update its strategies to minimize loss of brand sales. In addition, the company should launch various discount offers to attract consumers.
- Mars’s strategy of strengthening its social and digital media presence is likely to reduce the impact of the COVID-19 outbreak on its sales.
- Mars’s food business should focus on defensive strategies to mitigate losses.
- Mars’s pet care business is likely to be impacted by the economic downturn caused by the disease outbreak.
Reasons To Buy
- Understand the challenges and opportunities for a specific company in order to tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.