Customized Innovation at Mars Inc.Customized Innovation at Mars Inc.
January 5, 2010
When Mars Inc. decided to gamble on manufacturing customizable M&Msnow known as My M&Ms (with customized printed messages on each chocolate candy)the company dove into multiple new territories, including technology, manufacturing and their approach toward marketing.
Although the candies command a hefty premium over their typical retail cousinscurrently selling for $16.99 for a 7 oz. bagthe gamble clearly paid off. On the first day of availability back in 2003, 800 lbs. of the candies were ordered. As of 2007, sales of My M&Ms had reportedly cleared $10 million and were accelerating.
As a recent article in BusinessWeek notes, a big part of the success of My M&Ms can be credited to the marketing approach Mars took after the launch of the product. After reaching out to every My M&Ms customer for detailed demographic details, 25% responded, providing a clear pathway for future marketing endeavors.
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