Situation Analysis Since the inception of a revolutionary spicy chocolate recipe, Marilyn Lysohir and Ross Coates have been striving to grow a profitable business in the chocolate industry. Each year Marilyn has loaned the company money to keep it running.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Marilyn is a ceramicist and lecturer who is internationally known and has a successful ceramic art business.
Ross is a sculptor and a professor of fine arts at a nearby University. As a labor of love, Marilyn and Ross began publishing a once-a-year arts magazine called High Ground. More a multimedia product than a magazine, the copy production of this product does not pay for itself, so Marilyn and Ross have continually sought other ways to provide income to cover the costs of production for High Ground.
Cowgirl Chocolates began as one of those ways. After I familiarized myself with the plight of Cowgirl Chocolates, I saw some problem areas that could use some improvement. The chocolate industry is a thriving one but with the addition of hot and spicy chocolates, this product quickly becomes a niche market.
First, not everyone likes spicy food let alone mixed with something as ubiquitous as chocolate. Third, Marilyn should seek business advice from professionals. The second problem is the most urgent and important, followed by the third choice, being less important than the first but still pretty important.
The first problem is a given but is still a challenge. Cowgirl chocolates is unfortunately not much of an opportunity. There is no need for this product and its market is very small.
Competition is not necessarily there since cowgirl chocolates is not competing against other spicy chocolates but against regular, non-spicy chocolate. As was mentioned earlier, the product itself is a novelty item, not rooted in any kind of need from the outside business market.
On the note of price, I feel like Marilyn priced her chocolates too high and did not fully consider that common people would more likely buy the lower quality and less expensive, non-spicy chocolate.
Beyond the product were more problems regarding how cowgirl chocolates was run. As a result of the small size of cowgirl chocolates, obtaining product became problematic when there were minimum requirements that had to be met in both making the product and packaging it.
As a consequence from being forced to make these large batches of products, often times it just sat in inventory and it accumulated over time.
This accumulation caused a lot of trouble for cowgirl chocolates just because she was making more product but now one was buying them fast enough.
The cowgirl chocolates was run almost entirely by Marilyn and her husband. This lack of help meant that the two of them could not get a lot done even if they split their work. My suggestion would have been to hire high school or college kids in need of a job or offer something like a non-paid internship.
Even though Marilyn kept detailed financial records, she needed to have a better idea of what she needed to spend her money on. I believe she had a distorted view of what she needed to spend money on.
Some examples of her needless spending are buying and producing more product when she has sufficient product already in her inventory or her lack of spending on advertising which she managed to get a few news articles in the paper and a standard ad in a magazine.
It is also at this point that I do become critical of Marilyn and how she utilizes outside help. The fact of the matter is that she does not embrace some much needed professional business help.
She could have turned to the SBA which as been around since and they have a wealth of experience and advice for her. Marilyn even said herself that she was not a finance savvy person.
Both Marilyn and her husband are passionate about cowgirl chocolates because they want it to supplement their one-issue-a-year magazine, which, considering the lack of success that they have seen may not be feasible.
The central issue ad hand here is how to cut unnecessary costs to promote Cowgirl Chocolates more effectively? When asked to describe what the appropriate stage of the entrepreneurial process for this situation is a tricky one.
First I would debate that Cowgirl Chocolates is not a successful business idea which would put Cowgirl Chocolates barely at step 2. One could also look at this situation and say that Marilyn would be at step 4 of the entrepreneurial process because she is currently managing her entrepreneurial firm no matter how poorly she still has a physical firm that she is conducting business through it.
Marilyn could spend more money on improving her website so that it functions more effectively and brings in more business. The pros are that the new web design would give a fresh and sharp look that would be able to collect sales data to show Marilyn who is buying her product.
While the costs would be high, it would be a worthwhile investment in the end. Another strategy is to not keep so much inventory. Only make what you know you can ship out and not worry about not having enough in stock.
Finally, another strategy would be to hire a team of professionals to help with accounting, public relations, marketing, etc. The pros of this would be that she would be in good hands with professionals who hopefully know what they are doing.
The cons to this are again costs; how much is it going to cost to keep up all of these services?Free Essay: Cowgirl Chocolates Analysis Cowgirl chocolates are the design of Marilyn Lysohir and her husband, Ross Coates in Marilyn is a ceramicist.
Cowgirl Chocolates - Marketing Analysis Case Essay; Cowgirl Chocolates - Marketing Analysis Case Essay. Words Nov 14th, Cowgirl Chocolate Analysis Words | 6 Pages.
Cowgirl Chocolates Analysis Cowgirl chocolates are the design of Marilyn Lysohir and her husband, Ross Coates in Marilyn is a ceramicist and lecturer who is. Cowgirl Chocolates, primarily run by Marilyn, with help from family and art associates is branded based on the concept that chocolate lovers are fun and adventuress in spirit and whimsical.
Cowgirl chocolates caters to both Chocolate lovers and spicy food fans. How to Write a Critical Analysis. describe the “hot and spicy chocolate truffle” offered by Cowgirl Just send your request for getting no plagiarism essay. Cowgirl Chocolates - Marketing Analysis Case Essay; Cowgirl Chocolates - Marketing Analysis Case Essay.
Cowgirl Chocolate Analysis. Cowgirl Chocolates - Marketing Analysis Case Essay Words | 7 Pages. Situation Analysis Since the inception of a revolutionary spicy chocolate recipe, Marilyn Lysohir and Ross Coates have been striving to grow a profitable business in the chocolate industry.