Chocolate Fortunes

The Battle for the Hearts, Minds, and Wallets of China's Consumers

 Chocolate Fortunes

Author: Lawrence L. Allen
Pub Date: October 2009
Print Edition: $19.95
Print ISBN: 9780814438121
Page Count: 256
Format: Paper or Softback
e-Book ISBN: 9780814414330

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Table of Contents

CONTENTS

Foreword by Dr. A´ngel Cabrera and Dr. Mary Teagarden of Thunderbird School of Global Management ix

Acknowledgments xii

Introduction: One Country, Three Centuries 1

Chapter 1: China and Chocolate: East Meets West 9

China’s Road from Communism to Market Socialism 12

The Evolution of the Global Chocolate Industry 20

Chinese and Chocolate: A Foreign and Exotic Curiosity 22

The Size of China’s Chocolate Prize 28

Selling Chocolate 31

Selling Chocolate in China 33

Chapter 2: Ferrero Rocher: Accidental Hero 40

Ferrero’s Journey Along the Modern-Day Silk Road to China 44

China’s Emancipated Consumers 46

Establishing a Route-to-Market in China 49

Ferrero’s Struggle with Local Copycats 56

Did Ferrero Succeed in China? 62

Chapter 3: Cadbury: One Billion Consumers 70

A Brief History of Cadbury Chocolate 71

Cadbury China 73

Cadbury’s China Morass 76

Attempting to Turn the Tide 85

The Battle for Chocolate Bars 88

The Final Blow: A Breakdown of Leadership 91

Chapter 4: Hershey: Back to Basics 95

The Hershey Company 96

Hershey’s International Business 98

Hershey China 103

The First Season: 1995–1996 113

The Second Season: 1996–1997 120

The Third, Fourth, and Fifth Seasons: 1997–2000 126

The Sixth Season: 2000–2001 134

Under New Management 138

Epitaph 140

Chapter 5: Nestle´: China’s Chocolate War Sideshow 141

A Brief History of Nestle´ 143

Nestle´’s Arrival in China 145

The Birth of Nestle´ China 151

Sweating the Assets and Reducing KitKat’s Cost 156

The Launch of Nestle´ Wafer 159

In the Shadow of Nestle´ Wafer 165

Nestle´ Could Have Been a Contender 171

The Last Word on Nestle´, Chocolate, and China 174

Chapter 6: Mars: A Well-Regulated Militia 176

A Brief History of the Mars Candy Company 179

Mars’s International Expansion 182

Mars’s China Market Entry 183

Mars Versus Its Big Five Chocolate Competitors 190

Mars’s Commitment to Market Leadership 193

Chapter 7: Going the Distance: China’s 10K Chocolate Race 201

The State of the Chocolate Market: 2008 203

The Threat from Local Competitors 213

Managing China’s Multitier Market Going Forward 220

Notes 225

Index 238

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