{"product_id":"thehersheycompany-five-forces-analysis","title":"Hershey Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDon't Miss the Bigger Picture\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eHershey faces moderate buyer power and intense rivalry driven by big global confectioners and private-label entrants, while supplier leverage and raw-material volatility pose sporadic cost pressures.\u003c\/p\u003e\n\u003cp\u003eThreats from substitutes like healthier snacks and changing consumer preferences elevate strategic risk, though Hershey’s brand strength and scale create meaningful barriers to entry.\u003c\/p\u003e\n\u003cp\u003eThis preview only scratches the surface—unlock the full Porter's Five Forces Analysis to access force-by-force ratings, visuals, and actionable implications tailored to Hershey.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVolatility of Cocoa and Sugar Commodities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHershey faces volatile cocoa and sugar prices—cocoa fell 12% in 2023 then spiked 22% in 2024 after West Africa droughts and political unrest, giving major suppliers leverage when quality beans are scarce.\u003c\/p\u003e\n\u003cp\u003eDependence on limited origins (Ivory Coast, Ghana) concentrates supplier power; shortages raised Hershey’s COGS by ~3.5% in FY2024, pushing long-term hedges and fixed-price contracts through end-2025 to cap future spikes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLimited Supplier Concentration for Specialty Ingredients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eWhile dairy and sweeteners are largely commoditized, certain specialty flavors and inclusions come from a narrow vendor pool, raising supplier leverage for Hershey; in 2024, 12% of its ingredient spend was on specialty inputs with top-3 suppliers supplying an estimated 70% of those items. \u003c\/p\u003e\n\u003cp\u003eThat concentration increases bargaining power for unique-input suppliers, so Hershey must secure long-term contracts and quality audits to protect proprietary recipes and consistent taste across 80+ global markets. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLabor Market Pressures in Manufacturing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eLabor is a critical input for Hershey’s manufacturing and distribution network, and rising wage demands pushed hourly manufacturing wages in the US up ~6.5% from 2020–2024, raising COGS pressure; by 2025 stronger unions and a 9% shortfall in skilled industrial workers (BLS-related sector data) increased suppliers’ bargaining power, forcing Hershey to plan higher automation capex and boost median plant wages by an estimated 8–12% to sustain throughput.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSustainability and Ethical Sourcing Requirements\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpsuppliers who hold esg and fair-trade certifications wield greater leverage as hershey targets goals certified cocoa supplies cover roughly of global demand while reported its in so compliant suppliers can charge premiums.\u003e\n\u003cpfailing to secure certified cocoa risks reputational damage tied sustainability investments sourcing power scarce ethical producers.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCertified cocoa ~30% global supply\u003c\/li\u003e\n\u003cli\u003eHershey 44% certified cocoa in 2024\u003c\/li\u003e\n\u003cli\u003e$1.1B sustainability spend 2024\u003c\/li\u003e\n\u003cli\u003eSupply scarcity → premium pricing\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pfailing\u003e\u003c\/psuppliers\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy and Logistics Provider Influence\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eHershey is highly exposed to energy and transport costs: in 2024 U.S. diesel rose ~18% year-over-year, and utilities account for roughly 3–5% of COGS for confectionery makers, raising cost volatility risk.\u003c\/p\u003e\n\u003cp\u003eLarge logistics firms and regional utilities hold leverage during fuel spikes or grid shifts, constraining price negotiating power and service flexibility.\u003c\/p\u003e\n\u003cp\u003eRefrigerated freight needs and cold-chain complexity limit fast supplier switches without risking product spoilage and recalls.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDiesel +18% (2024 US YoY)\u003c\/li\u003e\n\u003cli\u003eUtilities ≈3–5% of COGS\u003c\/li\u003e\n\u003cli\u003eHigh switching costs for cold chain\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSuppliers’ Leverage Threatens Hershey Amid Concentrated Cocoa, Rising Input Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuppliers hold moderate-to-high leverage over Hershey due to concentrated cocoa origins (Ivory Coast\/Ghana), volatile cocoa\/sugar prices (cocoa −12% in 2023, +22% in 2024), specialty-input concentration (top-3 suppliers ≈70% of specialty spend), rising labor\/energy costs (US diesel +18% in 2024; utilities ≈3–5% COGS), and premium on certified cocoa (Hershey 44% certified in 2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCocoa price change\u003c\/td\u003e\n\u003ctd\u003e+22%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSpecialty spend concentration\u003c\/td\u003e\n\u003ctd\u003eTop-3 ≈70%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCertified cocoa (Hershey)\u003c\/td\u003e\n\u003ctd\u003e44%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDiesel US YoY\u003c\/td\u003e\n\u003ctd\u003e+18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eUncovers key drivers of competition, buyer and supplier power, threat of substitutes, and entry barriers specific to Hershey, highlighting disruptive trends and strategic implications for market share and profitability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise Porter's Five Forces snapshot for Hershey—helps quickly pinpoint competitive pressures and prioritize strategy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eConcentration of Large Scale Retailers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpa significant portion of hershey revenue in through big-box chains like walmart target and costco giving these buyers strong leverage.\u003e\u003cptheir combined scale lets them push for lower wholesale prices prime shelf placement and heavy promotional funding squeezing hershey margins.\u003e\u003cpretail consolidation continued into late with the top us grocers controlling of grocery sales intensifying price pressure and forcing hershey to accept thinner margins retain shelf space.\u003e\n\u003c\/pretail\u003e\u003c\/ptheir\u003e\u003c\/pa\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow Switching Costs for End Consumers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIndividual shoppers face effectively zero switching cost at checkout, so a consumer can choose a rival bar over Hershey’s with no financial friction; NielsenIQ showed private-label chocolate grew 6.2% in US unit share in 2024, pressuring branded players.\u003c\/p\u003e\n\u003cp\u003eThat lack of friction forces Hershey to spend on loyalty and emotional marketing—Hershey’s marketing expense was $636M in 2024—else higher prices will push buyers to store brands or Mars, Mondelez, or local rivals.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGrowth of Private Label Offerings\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eRetailers expanded private-label snacks by 22% in SKUs in 2024 and now price them ~15–30% below national brands, shrinking Hershey’s premium margins.\u003c\/p\u003e\n\u003cp\u003eThese store brands grabbed an estimated 8.5% share of US candy\/snack dollar sales by Q3 2025, boosting retailers’ leverage over shelf placement and promotions.\u003c\/p\u003e\n\u003cp\u003eWith 2025 inflation squeezing households (real median income down ~2% YoY), consumer shift to high-quality, lower-cost private labels intensifies price pressure on Hershey.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eE-commerce and Direct-to-Consumer Shift\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eDigital marketplaces let shoppers compare prices and reviews instantly, boosting buyer power; 81% of US consumers used online reviews in 2024 when buying groceries or treats, raising price sensitivity for Hershey.\u003c\/p\u003e\n\u003cp\u003eHershey’s direct-to-consumer (DTC) sales were about 7% of revenue in 2024, yet most online confectionery sales pass through Amazon, Walmart.com and grocers that set fees and placement rules.\u003c\/p\u003e\n\u003cp\u003eEasy access to niche and artisanal chocolate grew: specialty brands captured roughly 12% of premium chocolate category sales in 2024, pressuring Hershey on product innovation and premium pricing.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e81% used online reviews (2024)\u003c\/li\u003e\n\u003cli\u003eHershey DTC ≈ 7% of sales (2024)\u003c\/li\u003e\n\u003cli\u003eSpecialty brands ≈ 12% of premium category (2024)\u003c\/li\u003e\n\u003cli\u003eThird-party platforms control fees and placement\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHealth Conscious Consumer Trends\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eHealth-conscious trends push Hershey to expand low-sugar, organic, and functional snacks; US sales of better-for-you snacks rose 9% in 2024, pressuring legacy confection margins.\u003c\/p\u003e\n\u003cp\u003eBuyers gain leverage by demanding ingredient transparency and health claims, driving R\u0026amp;D and reformulation costs—Hershey spent $240M on product innovation in FY2024.\u003c\/p\u003e\n\u003cp\u003eFailure to pivot risks share loss to agile rivals like Mondelez and smaller health-focused brands capturing double-digit growth in North America.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e9% growth in better-for-you snacks (2024)\u003c\/li\u003e\n\u003cli\u003e$240M R\u0026amp;D\/product innovation spend (FY2024)\u003c\/li\u003e\n\u003cli\u003eAgile competitors posting double-digit NA growth\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBig-box clout squeezes Hershey: rising private-label, higher marketing \u0026amp; R\u0026amp;D costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cpbuyers hold high leverage over hershey: of revenue passed through big-box chains that demand lower prices and promos while the top us grocers controlled grocery sales by late private-label share rose chocolate units forcing higher marketing r to defend margins.\u003e\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue via big-box (2024)\u003c\/td\u003e\n\u003ctd\u003e~40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTop-5 grocers share (late 2025)\u003c\/td\u003e\n\u003ctd\u003e~60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePrivate-label chocolate unit growth (2024)\u003c\/td\u003e\n\u003ctd\u003e+6.2%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHershey marketing spend (2024)\u003c\/td\u003e\n\u003ctd\u003e$636M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eR\u0026amp;D\/product innovation (FY2024)\u003c\/td\u003e\n\u003ctd\u003e$240M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/pbuyers\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eWhat You See Is What You Get\u003c\/span\u003e\u003cbr\u003eHershey Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Hershey Porter's Five Forces analysis you'll receive immediately after purchase—no placeholders, no mockups.\u003c\/p\u003e\n\u003cp\u003eThe document displayed here is the professionally formatted, ready-to-use file you’ll be able to download and use the moment you buy.\u003c\/p\u003e\n\u003cp\u003eYou're looking at the full, final deliverable; once payment is complete, you’ll get instant access to this identical document.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56747384275321,"sku":"thehersheycompany-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/thehersheycompany-five-forces-analysis.png?v=1772197906","url":"https:\/\/matrixbcg.com\/products\/thehersheycompany-five-forces-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}