Introduction Rogers’ Chocolate can be on a mission to have the firm double or perhaps triple it is size within just 10 years. A great analysis will be performed figure out a strategic program where Rogers’ Chocolate will be able to grow, and keep their image of providing superior chocolates. The matter facing Rogers’ Chocolate is usually how they should be able to gain new clients and support their current customers.
To provide a thorough examination, I will identify and explain the tactical issue, present the outcomes of the examination, and present alternative tactics. Finally, I will present my own recommendation and conclude the analysis.
Proper Issue The strategic concern facing Roger’s Chocolate is usually how to increase the company because they are able to gain new customers but still maintain their very own current customer base. The objective of Rogers’ Chocolate is usually to double or triple the dimensions of the company inside 10 years. By simply growing, because of this they will need more production, even more employees, plus more customers. Rogers’ Chocolate will be needing a strategy that can help position those to be able to grow the way they need it to. Research After researching Rogers’ Sweets finances, they are good shape and possess improved by 2005 to 2006.
This improvement shows opportunity for the company to reach their objective of growing. According to their “balance sheet”, their current ratio intended for 2006 is 1 . 366 (2, 330, 241/1, 705, 132) and 1 . 245 (2, 896, 842/2, 326, 966) intended for 2005. These numbers demonstrate that they are able to continue to pay up their requirements. This means they may be in a position where they shouldn’t go broke. It also demonstrates Rogers’ Chocolate are just useful enough in the sense of turning their item into cash. The company’s money available for next year, 2007, is definitely $74, 744. This is straight down from what they had at the start of the year, $151, 802.
This may hurt them when looking to invest in new areas. The exterior environment of Rogers’ Chocolate looks very promising. Godiva and Bernard Callebaut would be the only ones that apparently threaten Rogers’ Chocolate situation in the market. The other chocolates companies are of lower price and quality but still compete with Rogers’ Candy. Godiva’s chocolate are listed higher although lower top quality. Bernard Callebaut’s chocolate resemble Godiva’s in price, are in similar spots as Rogers’ and are also good at new opening paragraphs and seasonal products. Fortunately they are superior to Rogers’ when it comes to all their packaging.
The interior environment does not look very well for Rogers’ Chocolate. With very few personnel who carry out multiple careers, Rogers’ appears to be they are not able to handle their demand for their very own product. As well their problem with out of stock item causes a large number of problems when ever trying to maintain other needs. Strengths to get Rogers’ Chocolates include fluidity and their differentiation from other competition. Roger’s is in a good placement financially. They are really not inside the best placement but are within a good enough situation to make changes and advancements. Rogers’ is also efficient.
When, again they may be not at their best, tend to be efficient enough to be a effective competitor. Fortunately they are very strong inside their image. They could differ from their very own competitors with high quality delicious chocolate and an image that is known locally. Rogers’ weaknesses happen to be cash flow and production. Though Roger’s Delicious chocolate is not really in a position to go bankrupt, they may have limited money to invest into improving all their operations. Together with the low sum of money they have, they could have to acquire in the future. An additional weakness is definitely their development efficiency. A decreased number of personnel and bad planning triggers their creation to be gradual and ineffective.
Inventory managing and out of stock problems cannot continue if Rogers’ want to be able to advance to the company they need it to become. Rogers’ Chocolate has many opportunities. One opportunity is usually to maintain their particular current image to bring in new products to compete with Bernard Callebaut. Having a new product to compete can assist can clients and fresh market share. One other opportunity is always to provide reduced quality chocolates to reach a fresh target market. To be able to acquire a new market might bring individuals new customers for their current market.
The key threat to Rogers’ chocolates is the competition. Not being able to perfectly keep up with the competition or perhaps current tendencies can lead to lost market share. With Godiva having superior the labels, distribution, and price items, and Bernard Callebaut having superior product packaging and periodic influence, Rogers’ Chocolate could possibly be falling behind soon in the event they do not join the rates. Rogers’ must find their niche in order to be able to contend not just in your area, but globally. Alternative Strategies Rogers’ Sweets will need to gain new customers in the event they want to increase the company.
To gain new customers, Rogers’ must have a risk a re-brand themselves with a new product packaging design to make a new photo. Implementing a fresh brand photo will gather a new group of consumers that Rogers’ would not reach having its current image. To be able to do this, Rogers’ will be needing some economical help in so that it will invest money into the new presentation design and image that they want to create. They will also will need new store displays and marketing equipment to be able to force the image to customers. Simply by creating this new image, that they run the risk of losing their particular current clients.
The new picture that Rogers’ creates can grab the attention of a new market that will aid gain market share that they at the moment do not have to promote growth of the corporation. For development to happen, Rogers’ must be better in production. The problems due to out of stocks and bad preparing are causing Rogers’ not to be as successful. The moment production programs are put on hold to end special instructions, it is not a fantastic sign. Production should be a ongoing flow. To improve the production performance, Rogers’ will need to hire even more employees therefore their current ones are generally not doing multiple functions.
They will need to utilize correct data when planning development and forecasting next year’s sales. Again, money will probably be needed to retain the services of and teach new staff, as well as changing the planning method. Rogers’ risk is that the employees may not be since happy when new employs come, since a lot of the workers are third generation staff. Also, one more risk is usually that the new planning may cause the same problems such as discounting products or even incorrect forecasting. Yet another way for Rogers’ to grow is to increase their on the web presence. Seeing that social media is growing, Rogers’ can take advantage of that to gain visitors their website.
In so doing, not only is going to sales rise, but they may also be able to reach a new age bracket of 18-34, who work with online shopping. This will likely give them new customers that will commence to aid in upgrading the aging clients that Rogers’ currently have. As social media can be described as low cost, a small percentage money will probably be needed, although it may be a good idea to hire a social media expert to handle all the work. The only risk that I see Rogers’ facing is throwing away money in the event that sales will not increase. In the event social media and a larger on the web presence are not working, Rogers’ could encounter a situation exactly where they are not really on the receiving end.
They may need to analysis who the web customer base really is to gain information about how to market to that segment. Not only will a more substantial online presence grow the company, but as well moving organization to the Usa will help inside the growth too. Opening up retail stores in the US can help Rogers’ to get started on to gain a global presence. Just how that Rogers’ retails goods shows that they will know how to get it done locally. To be able to reach the US, they will have to put a lot of effort into research the market on how to marketplace to US customers.
In their current retail stores, they display their products to accommodate the season having a Victorian topic. Rogers’ should do the same for the united states, but use the information accumulated to create displays and promoting tools that could gain a following. Simply by changing to adjust to and gain sales in the usa, Rogers’ has got the risk of burning off their current image as well as spending a lot of money just to gain customers that they can may not get. This is the riskiest strategy. They will spend a lot involving by building retailers and staffing needs them and marketing to a new segment. The risk of having their image ruined is likewise a risk.
Since Rogers’ is very well rooted in tradition, this might cause a stir among employees and their consumers. Recommendation After reviewing the analysis plus the alternative tactics, Rogers’ provides several approaches to achieve growth. I recommend that Rogers’ re-brand themselves with new packaging and advertising tools. Although there is a likelihood of losing current customers, I really believe that is a really small risk. Folks who buy Rogers’ Chocolates are very loyal consumers and have been buying them for years. Rogers’ a well-known company, based of providing superior chocolate with high quality.
Changing the image will not affect the top quality of their chocolates, but rather gain new customers they will don’t already have and be able to compete against Godiva and Bernard Callebaut. The image that Rogers’ needs to make is a picture that will nonetheless hold its tradition, nevertheless at the same time end up being edgy enough to strengthen its packaging, promoting, and syndication. This will allow clients to get to know what Rogers’ Chocolates is and be able to keep the current ones heading back. Conclusion This is why, Rogers’ sweets objective is growth to get the company.
A great analysis was performed to exhibit the current financial and environmental state Rogers’ is currently in. after critiquing the evaluation, I found that Rogers’ is a good location to expand and once again market share employing their current products. I recommended that Rogers’ Chocolates build a new, unquiet brand photo to gain a brand new customer base. This will keep all their current, dedicated customers that help gain clients who will be soon to become loyal too. Rogers’ features put themselves in a position to make this strategic decision in order to expand the company in a market head.