Yorktown Technologies is a fairly new company that is marketing and introducing GloFish into the market. In 2002 Yorktown raised $500,000 fro investors under the projection that it would have $4,000,000 in profits in 2004. Sadly the company only had $500,000 in revenues and had an outstanding $620,000 in expenses leaving the company $120,000 in the red (Roger A. Kerin, 2010). Alan Blake of Yorktown Technologies is searching for what to tell the board of directors in the next board meeting. Major changes are needed in order for Yorktown to turn around and become profitable.
The largest problem that plagues Yorktown is negative media attention regarding its genetically engineered GloFish, as well as strict new regulations from several key markets for the product. Blake is of the belief that Yorktown can be successful and despite steady growth over the past few years it has not tapped its true capacity due to distribution challenges with the product. Competition is steep as the competition has similar products for a cheaper price. The continued enhancement of the product that Yorktown carries gives them a strong position in the market if the distribution can be sorted out, this would make the product more price effective and increase sales across the board.
Yorktown is a company that sells genetically engineered zebra fish, that due to the genetic altering glows under specific conditions. The first few years Yorktown came under heavy fire from several entities due to the genetically enhanced nature of their product. They have had steady growth in sales but are still far below projected sales and revenues. Investors have been very patient to this point but that patience will soon fade. Drastic changes must be made according to Blake in order for Yorktown to increase revenues and sales.
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