*All information for this paper was gathered from interviews with Adam Meyers (Sales Manager at Hasty-Bake) and other employees, www.hasty-bake.com, and publications from the company. Table of Contents
Porter’s Five Forces……….7
The company was started by Grant Hastings and Gus Baker. Grant Hastings was from Tulsa originally and always ate at a rib joint in North Tulsa called Tipton’s. Hastings served in Europe in World War II. While in Europe he did not get to eat anything like the smoked ribs that he so dearly loved from Tipton’s so he came up with an idea to build a grill. Rumor has it that he built a grill in Europe and cooked ribs for his division, but this has not been confirmed by anyone that works for the company.
When Mr. Hastings came up with the idea, he decided that if he made it back to Tulsa, he would build his own grill so he could eat the ribs whenever he wanted. Upon arriving back in Tulsa, Hastings began working and the first Hasty-Bake Charcoal Oven was produced in 1948 in Hastings own garage. Gus Baker saw the grill and they decided to begin manufacturing the grills as a business.
Hasty-Bake is a pioneer company. At the time Hasty-Bake was created, there were other grills but nothing like what Hasty-Bake had to offer. Not only did they make improvements on current grills and set the standard that continues today, they also created new grilling methods that were revolutionary at the time. The Hasty-Bake Model 131 Legacy is their best selling item. This shows how Hasty-Bake set the standard of grills because this is an exact copy of the original prototype grill built by Hastings in his garage in 1948. This grill retail is so popular that competitors have designed their grills to copy the size of this grill. Hasty-Bake pioneered different areas in grilling. They created the first portable grill and the first hooded unit. These are two things that are considered to be common in the grilling world today. Hastings also designed a grill that would cook meat using an indirect heating method. The original Hasty-Bake was the first grill that controlled the heat intensity by utilizing a vent system. The small holes in the sides of the grill could by open to release heat and closed to contain heat within the grill. Hastings also invented the adjustable fire box that the coals sit in order to lower the coals and pull the heat away from the cooking meat.
Selecting the target market is an important factor in Hasty-Bake’s business model. The company sells its product at a higher price than its competitors so their target market must first and foremost have the means to purchase their products. Sales Manager Adam Meyers at Hasty-Bake described their target mart as: “We are looking for people who like to eat. The single biggest thing about cooking over charcoal is that there is a lot more work involved in it than buying food or ordering out. The people that are usually after our products are the people that like the finer foods because they have to go to a little bit more work but it’s going to have much better result.”
He then went on to say that they have to find people within this description that have the means (financially) to purchase their grills. Marketing
Hasty-Bake is looking at a small segment that wants their product and that has the means to purchase their product. Because of this, they primarily market locally. They run traditional print advertising in newspapers and BBQ magazines and a lot of cooperative advertising with other businesses within the Tulsa area. Hasty-Bake often donates products for a specific reason in order to jump into a larger marketing plan. They have some local television commercial as well as a few cable...