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The impact of marketing on business
Importance of a good mission statement
Cowgirl chocolates case study analysis
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Recommended: The impact of marketing on business
The main problem I see is, which would be for any business, if that they have struggled to achieve profitability and growth with it being in business for four years so far. The thing that has kept the business alive this far is the positioning of her products in some of the location’s, but although she has been successful in some places she has really struggled getting her business to expand outside of Moscow. Another thing that is hurting her is that she does not have a target group really, so therefore she does not know exactly where is best to place her products. On top of that it is already hard to find customers that will enjoy the mixture of hot and spicy with chocolate. Because of the unusual mix of foods this also puts her products …show more content…
They need to be able to track their customer so then they can get a better of idea of who is purchasing their products. Then Cowgirl Chocolates can go from there and have more of a target group. Once they do this they could then get more of an idea of what people also like and want out of a product and that could lead them to future new products. They could also be missing out on some sales because of the poor maintained website and not having it run to the best of its abilities. I know I am more attracted to a website that looks good and runs well with all the different …show more content…
This is very important when running a business. The mission statement states the reason for the organizations existence. This helps lead the business to success and shows what they stand for and help lead them to their goals. Starting off with no mission statements has not worked out for the company, and they have problems with marketing and sales problem also. With the company not having a mission statement this has played a role in the marketing and sales problems I believe. Cowgirl Chocolates started off as just a way to fund their art magazine, High Grounds, and not thinking it would actually amount to something. Not only do they need to come up with a mission statement they will also need to create a vision to point the company in the right
People are not prone to agree with one another. If you gather a dozen people together for a dinner party and the subject turns to politics or religion, then there is inevitably going to be an argument. There is one thing, however, that there is a near universal consensus on: chocolate is a wonderful and delicious thing.
Customer loyalty is another competitive advantage. Trader Joe’s doesn’t provide membership card to the customer, however customer still would like to choose Trader Joe’s just because of this
A mission statement express the core purpose of an organization and its reason for existence. Mission statements are vital to an organization because they communicate and set the foundation of the purpose of their existence. They shape the attitudes and behaviors of the members of the organization and the perceptions of the public (Hess, 67).
Market research and information about the industry is very important to the organization because it will allow the organization to position itself well in terms of sourcing chocolate raw materials and in identifying the market for its products. For example, understanding that some chocolate product purchases are seasonal, e.g., at Christmas; around Mother’s Day; and, on Valentine’s Day, allows the organization to have more product on hand and to create displays, in store, that will increase purchases and attract more customers when existing customers tell their friends about the availability of high end products, at reasonable prices, in their store.
An article discussing the importance of a mission statement states that a mission statements’ job is to outline the organization’s unique purpose and establish the basis of its values and traits, as well as describe the attitude that is to be expected of those a part of the organization. Furthermore, this philosophical foundation sets the “tone” for physical actions, meaning that the content of the mission statement can determine the behavior of personnel (Hitt & Ireland, 1992).
Ben & Jerry’s Ice Cream was founded on the corporate concept of linked prosperity, interrelating a three-part mission statement to focus their company’s growth. Their mission statement, which covers their product, economic and social goals, focuses both the leadership and the workforce on their key values. These values include staying in touch with the customer base, using quality ingredients, maintaining profitability and maintaining social awareness and accountability.
The first chapter in this book explains a business’ mission and values. When discussing the mission, Welch states that in order to create an effective mission statement, one must explain how they intend to win in that particular business. The key is profitability, “Delineate their strengths and weaknesses in order to assess when they can profitably play in the competitive landscape,” (Welch, 15). This means to define the business’ strong and weak points to evaluate where they can efficiently and profitably fit within that specific business sector’s scheme. In order to come up with the mission, one can receive input from any source, but one should especially listen to the intelligent ones from all of the different sectors. Although, it is the responsibility of the top management or whoever is held responsible for it, to put it in place, it is their “defining moment,” (Welch, 17). The mission is what a business plans to do to win and values are ...
The recent product, liquor filled chocolates is a viable business that can sell if it is implemented professionally. This recent innovation should be able to acquire attention from the market owing to its combination of selling products. Put simply, the liquor-filled chocolates are chocolates that contain alcohol. According to Novellino (2011), Chocolate-candy sales summed up to $16 billion in 2008 in the U.S. Furthermore, the statistics on alcohol reveals that liquor sales hit $19.9 billion in 2011. What does the statistics reveal about the product? This reveals that the market for the two products is present and combining them will result in a profitable business. This paper is a report on targeting and segmenting the new liquor filled chocolates as a potential business.
This case examines issues of asset control for Ben & Jerry’s Homemade, Inc., in light of the outstanding takeover offers by Chartwell Investments, Dreyer‘s Grand, Unilever, and Meadowbrook Lane Capital in January 2000.
Critical Strengths and weaknesses of the Cowgirl chocolates that determines the success of the small business? Some of the critical strengths that help determine the success of the company would be having a distinctive product due to the fact that her product would not be considered a regular chocolate bar, because it is infused with cayenne and other peppers. This makes the product very different from competitors. Another strength would be Marilyn’s experience working at a chocolate shop at the age of 16 this gave her the love she has for chocolate by working with others and seeing why others loved chocolate. As a result this encouraged her to become more creative when opening her own business years later. Other strengths the company’s chocolates has won 11 awards either in the annual Fiery Food challenges sponsored by Chile pepper magazine or the Scovie awards competitions sponsored by Fiery Foods the caramel sauce also won 1st place in the latest competition.
A mission statement should be clear and thoughtful. A mission statement should also provide employees with a sense of purpose and direction (Kotler & Keller, 2009). According to Colgate (2011) the company’s mission statement is “ to provide Colgate with a significant competitive advantage by reducing total delivered costs, extending technology resources and developing excellence in purchasing, logistics and sourcing processes.” The company has been successful in its mission and accomplishing its goals.
Costs are classified depending on how the cost information will be used by the company. Fancy Chocolate needs to gather cost information first before choosing the appropriate costing system. Cost classifications are based on cost behaviour, cost traceability, cost controllability, value chain, manufacturing or product costs, and/or timing of the expense. From using these basis of classifications, costs can be classified as variable costs, fixed costs, direct costs, indirect costs, controllable costs, uncontrollable costs, upstream costs, downstream costs, manufacturing costs, direct material costs, direct labour costs, manufacturing overhead costs, product costs, and/or lastly, period costs (Langfield-Smith, Thorne, Hilton, 2015).
Rather than inspire with a forward-looking mission that is inclusive, they continue to re-establish that the organization has had this checkered past. Their mission lacks aspiration and inspiration, and it frankly takes the organization nowhere. It fails to account for one of their biggest stakeholders, the actual customers at their restaurants. While their website is attractive and has many elements which do create affinity with their customers, their company mission fails to connect any of those dots in a meaningful way. Sadly, the founder’s quote was more inspirational but is far from the operating reality of their stated organizational
They only have nine product lines (mostly concentrating on women), which reduces the size of their customer demographic. 3.1 Opportunity: Experienced Top Management
Secret Recipe was famous with their cakes, so customers visit to Secret Recipe most probably to buy their cakes. So, when customers wanted to order their favourable cakes but been told that the cakes out of stock would led customers to feel unhappy and disappointed. Therefore, limited variety and production of cakes would lead to customer’s dissatisfaction.