COMPANY ASSESSMENT
Company Background
In 1933, Vernon Rudolph and his uncle purchased a small doughnut shop in Paducah, Kentucky. This doughnut shop was owned by a French chef named Joe LeBeau. Chef LeBeau had a secret doughnut recipe that he included in the sale of the shop. This recipe that Vernon bought is used to make those wonderfully delicious glazed doughnuts that Krispy Kreme is known for world wide. In 1937, Vernon decided to settle down in Winston-Salem, North Carolina, and on July 13, 1937, he opened the very first Krispy Kreme Doughnuts. At first, Vernon baked his doughnuts and sold them to local grocery stores, but soon people began lining up outside of his shop so they could purchase fresh, hot, glazed doughnuts from him directly. As the years progressed, more Krispy Kreme stores opened, but something was different among them. The problem was that consistency of the doughnuts from store to store was not the same. To fix this set back, Vernon decided to build his very own mix plant where he would make all of the dry dough. This dough was then shipped to every Krispy Kreme store, so that every doughnut would be exactly the same. Vernon also had Krispy Kreme build all of its own doughnut making and glazing machinery which helped to keep the doughnuts identical from store to store. As the years passed, Krispy Kreme started to grow and expand rapidly. By 1999, Krispy Kreme was a national corporation; they had stores from New York City to Los Angeles. In 2001, Krispy Kreme went international when they opened their first store in Canada. Currently in 2014, Krispy Kreme Doughnuts has 748 stores in twenty-two different countries. Little did Rudolph Vernon know that his small investment in Paducah, Kentucky would one...
... middle of paper ...
...panies have made, so that they can penetrate the industry.
Bibliography
Works Cited
http://www.northcarolinahistory.org/encyclopedia/363/entry
http://investor.krispykreme.com/phoenix.zhtml?c=120929&p=irol-financialinfo
http://www.krispykreme.com/about-us/history
http://www.topsecretrecipes.com/Krispy-Kreme-Original-Glazed-Doughnuts-Recipe.html
http://www.krispykreme.com/menu/doughnuts
http://www.krispykreme.com/about/International
http://www.krispykreme.com/about/Our-Story
http://investor.krispykreme.com/phoenix.zhtml?c=120929&p=irol-financialinfo
http://www.dunkindonuts.com/content/dunkindonuts/en/company.html
http://www.gallup.com/poll/21859/Close-Americans-Want-Lose-Weight.aspx
http://www.pwchk.com/webmedia/doc/634593712079638863_rc_ap_products_outlook_2012.pdf
http://www.euromonitor.com/fast-food-in-the-us/report
Vernon Rudolph is the brains behind the Krispy Kreme name. He bought a doughnut shop in 1933 and all the assets came along with the purchase, including a secret recipe and name, Krispy Kreme. Rudolph moved to Winston-Salem, North Carolina, where he opened his first Krispy Kreme shop. The business prospered and in the 1950¡¦s over ten other locations were opened. The business was able to produce 500 dozen doughnuts an hour. ¡§Revenues grew from less than a million in 1954 to $58 millions in 1974.¡¨(C-280) The company was bought out in 1976 by Beatrice Foods. This hurt the name and image of Krispy Kreme. Revenues began to fall and customers were not satisfied with the new owner¡¦s changes to the image of the doughnut giant. Then in 1982, new buyers decided to go back to the original image of Krispy Kreme and revenues again began to rise. Revenues gradually rose to $117 million in 1989 and then stayed the same over the next six years.
WinCo Foods is a supermarket chain with headquarters in Boise, Idaho. It started in 1967 and has since expanded to include over 100 locations throughout the United States. Until 1999, all of its stores operated as Cub Foods or Waremart Food Centers, but the company now has its own branded locations. It also has five distribution centers. The stores and distribution locations employ more than 15,000 staff members in a variety of positions.
The main competition for Panera Bread in the Food Service Industry is not necessarily restricted to coffee shops as I originally thought. Instead I consider Panera’s direct competition as including Bakery-Cafe restaurants such as Starbucks and Einstein Bros. but also Fast Casual such as Chipotle Mexican Grill, Panda Express, Baja Fresh, Q’Doba, and McCallister’s Deli. Panera and all of these restaurants are also in competition with Quick Service Restaurants such as McDonald’s and Jack-In-The-Box, and Casual Dining Restaurants like Applebee’s and Olive Garden. Panera’s competition is effected by buyer power, rivalry among competitive sellers, and substitutions by companies in other segments. There could also
Although Cheerios is the same brand as it has always been, the design of the box has changed drastically to persuade different audiences as time passes. Today there are multiple different assortments of Cheerios, so the focus will be set on the original mixture. To decipher how the cheerios box has changed over time, this essay will explore different boxes at different times to show the different strategies the company has used. The strategy of Cheerios currently is to promote that Cheerios will motivate you towards healthy living and happiness.
Wendy’s is one of the world’s third largest hamburger companies that is quick service. There are over 6,500 company and franchise restaurants worldwide. Wendy’s mission is to stand for honest food, higher quality, fresh wholesome food, prepared when you order it, prepared by Wendy’s kind of people, do it Dave’s Way, we don’t cut corners. This company believes in fresh and non-frozen products so the customers are satisfied and now they bought from an honest restaurant. The foundation believes in long term success that include there core values in every production. The core values are “Quality is our Recipe” “Do the Right Thing” and “Give Back”. Wendy’s focuses on the responsibility that the stakeholders are also the key to success.
Internal resource is the first consideration that can lead to sustainable competitive advantage and Resource –Based View (RBV) is a theory that usefully helps a firm focus on internal resources (Kraaijenbrink, Spender & Aard, 2010). According to RBV (Valuable, Rare, hard to imitate and non-substitutable), companies have different tangible and intangible resources, these resources can be transformed into unique ability, this special ability cannot flow between firms and rival firms and difficult to reproduce. These unique resources and abilities are the source of enterprise sustainable competitive advantage. In this part, Starbucks and Apple are worth to be analyzed by RBV.
Doughnuts are not as simple as coolies. The dough must be prepared using flour, water, eggs, and then another ingredient; yeast, to add the tiny air pockets that make the dough rise and to make them so edible. After the dough has risen, it can be shaped into the familiar ring shape either by rolling it into snake-like portions or, more commonly, spreading the dough thickly over a flat surface using a device not unlike a cookie cutter. The popular doughnut shop, Krispy Kreme ® has developed a doughnut extrusion process that results in their distinctive rosette shape with curved vertical ridges on the sides.
Strives to be the leader in micro brewing while maintaining the core values it started with and had employee buy in even before it went” 100 % employee owned in2013” (Gorski, 2013).
The financial figures for Heinz in 2003 show that the company had nearly one billion dollars less in sales than for the year 2001. Despite this decline in monetary sales Heinz reported net income that was nearly 85 million more than the year 2001, but down about 260 million from 2002 figures. Heinz reported that growth was mostly realized in the international markets and significant products responsible for expansion were tuna and pet food markets. A merger with Del-Monte (joint venture) was implemented this year and regarded as an opportunity that allowed Heinz to lower debt and expand some products internationally. Heinz was also able to decrease net debt by 1.3 billion in 2003. With these gains in performance Heinz has increased stockholder return by 17%.
This memo contains the answers to Questions 1 through 4 from the International Marketing assignment titled, "Krispy Kreme Doughnuts Going Global?" The questions are offset in the shaded area and the answers are provided below each question.
The U.S. doughnut industry was a $5 to $6 billion market in 2003 2004 with a robust growth rate of 13%. Doughnut specialty stores were the fastest growing dining category in 2002 2003 with sales increases of 9% to approximately $3.6 billion. Opportunity for expansion in North America and globally is desirable. Doughnuts appeal to many people across all ages and demographics. The increasing rate of obesity and the concern about healthy living triggers a change in buyer demand toward a more health conscious diet.
If and when Krispy Kreme decides to go global they will enter a whole new world of adaptation to different markets. They will no longer be able to offer their staple hot fresh plain glazed doughnuts and expect them to sell in every market. France for instance has built a world reputation on fresh baked goods; therefore their key branding technique would not be as effective in such a culture. However the hot fresh plain doughnuts strategy works very effectively across the United States with two exceptions. First is the growing number of obese Americans. With growing media attention turned towards sliming up American quick service restaurants, Krispy Kreme has come into the crosshairs of mainstream media. The other hindrance on Krispy Kreme's complete success is the all in one convenience attitude. Demonstrated by Wal-Marts success, giving
President and Chief Executive of KremeKo, insures the public that they think long and hard before the considering expansion. He said, “Krispy Kreme doughnuts won’t suddenly become available everywhere because we don’t think that’s appropriate for the brand at this juncture in its evolution in the marketplace” (Krispy Kreme Steps up Wholesale Business in Canada, 2003,)
The chief element of Krispy Kreme's strategy is to deliver a better doughnut and to appeal to customers in new ways. They have taken great steps to insure customer satisfaction from the use of their proprietary flour recipe to their automated doughnut making machines. They have chosen to target mainly markets with 100,000 households. They also were exploring smaller-sized stores for secondary markets.
In this assignment, I chose to conduct a SWOT (strengths, weaknesses, opportunities and threats) analysis on a bakery company in Kedah called Kek Sayang. Kek Sayang is a family based business. It is also the oldest bakery in Alor Setar. It started with a really small vendor established on 1st January 1980. On 2002, it has transformed to a boutique bakery. On 2006, the shop has been renovated to include a small portion of cafe-sort to cater all kind of customer. It sells varieties of handmade cakes, buns, pastries and cookies. Later on, the menu extended to drinks which include coffee, smoothies and milkshakes. Its vision is to be the best Bakery in Kedah. Thus, only the finest ingredients are used and artisan techniques are applied