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History of Ferrero

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Par   •  11 Mai 2012  •  Dissertation  •  288 Mots (2 Pages)  •  1 728 Vues

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Ferrero is an Italian manufacturer of chocolate and other confectionery products. It was founded by confectioner Pietro Ferrero in 1946 in Alba, Italy.

The company saw a period of tremendous growth and success under Pietro's son Michele Ferrero, who in turn handed over the daily operations to his sons. His son Pietro (the founder's grandson), oversaw global business.

-Today-

Reputation Institute's 2009 survey ranks Ferrero as the most reputable company in the world. Ferrero is a private company owned by the Ferrero family and has been described as "one of the world's most secretive firms".

Process of internationalization

The Ferrero Group worldwide, now headed by CEO Giovanni Ferrero, includes 38 trading companies, 18 factories and approximately 21,500 employees. Ferrero entered in the market in 1964 with their first product: Nutella. Indeed, in 1946 Ferrero invented a cream of hazelnuts and cocoa that is why the company was created, to produce and market the cream.

Since this time, Nutella adopted a first mover strategy and took the control of this segment by giving the customer a new product before any other competitor. Nutella become popular around the world due to this unique product launched in a market with no competition thanks to its first move. Furthermore, the company places great emphasis on secrecy, reportedly to guard against industrial espionage. Pietro Ferrero has never held a press conference and does not allow media visits to its plants.

Ferrero took a great advantage becoming a first mover strategy because it will give to the company the motivation to do expertise, innovation, research and development to invent new products. And that explain how Ferrero is now a famous brand with new international successful products like Kinder, Tic Tac, Ferrero Rocher, … Ferrero creates loyal customers with this strategy

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