Analysis of Kingsford Charcoal (graphics not included) In this report, we will be analyzing the current performance of Kingsford in the marketplace and identify the main cause of revenue deterioration. Thereafter, a comprehensive strategy and marketing plan will be presented. We will begin with identifying current business orientation of Kingsford. Then, we will analyze its position in the marketplace and various external forces. In-depth analysis on the strengths and weaknesses of Kingsford is done to have a clearer picture on what should be done to boost its revenue and profit. The analysis theories used are Porter’s Five Forces, PEST, and SWOT. There are a few important findings that require immediate attention. Kingsford is a superior product compared to its nearest rival Royal Oak, but it has not been spending on media advertising. It has also been losing market share to gas grilling which is more convenient, has shorter cooking time and easier to clean up. Outdoor grilling is a booming activity in modern USA, which provides excellent opportunity for market growth. Thus, we will present an overall marketing strategy and establish core marketing activities to boost its profitability and MBAs. We will then attempt to re-strategize marketing mix to help Kingsford back on its track. The real challenge is to attract more people to charcoal grilling from gas grilling and at the same time capture more market share from Royal Oak. TABLE OF CONTENTS EXECUTIVE SUMMARY 1 1.0 INTRODUCTION 3 2.0 ANALYSIS ON KINGSFORD MARKET SITUATION 2.1 Marketing Audit 4 2.2 Porter’s Five Forces 5 2.3 External Environment (PEST Analysis) 6 2.4 SWOT Analysis 7 2.5 Key Find... ... middle of paper ... ...er use of charcoal grills. As a market leader, its success will very much depend on entire category preference. Thus, Kingsford must develop “offensive” strategy towards gas grilling. Nevertheless, it must “defend” its current market share if not increase it, by maintaining premium quality and develop innovative products. The marketing mix strategies will effectively achieve targeted revenue and profitability in the near future. 5.0 REFERENCES International Graduate School of Business (2007) “Creative and Accountable Marketing – Study Guide”, University of South Australia Kotler et al (2006) “Marketing Management: An Asian Perspective”, 4th Edition Narayandas, Das and Wagonfeld, Alison Berkley (2007) “Kingsford Charcoal” pp. 669-685, University of South Australia US Bureau of Economy Analysis (BEA) website www.bea.gov viewed on December 25, 2007
Taking into account the slowdown in the overall charcoal category, the main problem of Kingsford Charcoal (KC) is how to determine the right strategy in order to improve its sales and profits and ensure future growth of the company. This strategy has the following issues:
For backyard grillers across the entire nation, there is really one simple, fundamental question that each must answer. That question is this: Gas grill or charcoal grill? There are many things that a person can take into consideration when making this choice. Is convenience the most sought after asset, or are you a lover of the process of starting and taming the fire? Is a quick and easy experience and clean up worth risking the quality taste that could be gained? This question does not have a finite answer, but there are many markers along the way that can point towards the direction of what side best suits the griller's needs. Although there are perks in each type of grill, a charcoal grill provides a more enjoyable taste than a gas grill
Some people enjoy the smoky taste of meat cooked with briquets and this effect can only be utilized in gas grilling by adding special wood chips or investing in a smoker. Additionally, gas bbq grills tend to be more expensive overall than charcoal - some large models go for thousands of dollars!
And we will purchase capacities when plant utilisation above 90%. This will expand the business size and have a positive impact on economies of scale. Composed with High End and Size products transfer into Traditional and Low End, we have multiproduct in targeted segments. “Higher firm-level ability raises a firm 's productivity across all products, which induces a positive correlation to a firm’s intensive and extensive margin” (Bernard, Redding and Schott 2006). This means with an effective business strategy and management, businesses can boost sales of all products within the segment. With a larger product profile for Traditional and Low End, it works to generate larger market shares. Refer to Graph 4 and 5, Digby sold twice units of products than its core competitor-Baldwin by having Daze and Dixie in its Traditional segment, which drives its segment market share to double Baldwin’s. The boost in sales and market share prove the correct implication of the
In addition, UXL Encyclopedia of Science (2002) mentioned that the most common type of charcoal is called wood charcoal. It is mentioned that the Wood charcoal was anciently prepared by stacking the woods, housing it with earth’s dirt, and setting the pile of wood on fire. In this process inconsistent compounds in the wood, like for example if the water eject as vapors like into the air, some of the
Kinko’s has been losing revenues and market share over their competition for the past years; reason why its directors have been doing market research to understand the causes of their business slowdown. It’s fast growing market had substantially developed an ongoing business model, facing changes, rapid expansions & even mergers. Their model of service solutions was not fitting their customer’s needs any longer…now it is needed to increase revenues and fast.
The Mongolian Grill is a restaurant with a unique concept. It prides itself on not only delivering good food, but also an original dining experience that leaves customers wanting to come back. The restaurant uses four features to help accomplish this: An entertaining and interactive atmosphere, fresh and healthy food, unlimited quantities, and customer involvement in the meal preparation. The restaurant owner, John Butkus, is looking to finalize the operation decisions for one of his future restaurants, which will be located in Waterloo, Ontario.
Lamb, C. W., Hair, J. F., McDaniel, C. D., & Wardlow, D. L. (2009). Essentials of marketing (6th ed.). Cincinnati, Ohio: South-Western College Pub..
Marketing Mix is a very essential concept for the progression of the business. Products and services of a business organization get effective strategic positions in the market with the help of using marketing mix. According to Belz (2011), through appropriate attentiveness of the marketing mix, an organization can have proper explicated marketing tactics and strategies through which the company’s marketing objectives can be achieved at the required level. Marketing mix is not merely a single term but it is an assembly of different elements of marketing.
Armstrong, G, Adam, S, Denize, S, Kotler, P, 2010, Principles of Marketing 5th Edition, Pearson Australia Group, Frenchs Forest
The main objective of this report is to develop and provide a sales and marketing plan for which the company will help to generate more profit and acquire more customers to patronize the product. This report will cover the period of 2016 to 2017 which will serve as guidelines that needs to follow of the employees, managers and management team to reach the desired goals and target for the company.
I have selected Mc Donald’s as an organization on which I would be making this report. I would be discussing Mc Donald’s competitive advantages over other organizations by applying a Resource based view of strategy. This report would highlight the resources and capabilities Mc Donald’s has and how can it utilize those resources to gain competitive advantage over its rivals.
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
Given the voids that the owner has identified in the company’s target market, it is entirely likely that existing competitors will develop products to meet the customer’s needs. It is also conceivable that new or existing companies will perceive market voids and make attempts to capture market share. The owner is ready for this type of healthy activity in the marketplace and plans to continually assess the company’s competitive position and protect company’s market share. The owner has established company’s strategic position after careful evaluation of industry trends, the target market, the competitive environment, the company’s strength, and the inherent risks. The owner is already aware of the competitors and the ever changing landscape of innovation needed to stay on top. Etowah Meadery intends to implement a focused strategy by creating differentiation in its products offerings and high level costumer