Krispy Kreme Analysis
EXECUTIVE SUMMARY
We begin our report by touching on the history of Krispy Kreme. Vernon Rudolph started Krispy Kreme in 1933 when he bought a doughnut shop from Joe LeBeau. He later established the first Krispy Kreme in Salem, North Carolina. After Scott Livengood became CEO, the company repositioned itself and focused on being a specialty retailer, rather than a wholesale bakery. They soon began expanding rapidly throughout the United States. This particular case took place in 2004 Krispy Kreme was beginning to run into some serious problems.
Next we discuss the situation analysis beginning with the market summary. Here we explain the demographics, psychographics, and behavioral attributes along with the market needs, trends, and growth. Second, we conducted an SWOT analysis finding the company’s strengths, weaknesses, opportunities, and threats. After analyzing the SWOT, we configured some important critical issues. The last part of the situation analysis discusses the industry of Krispy Kreme, including the competition and macro environment.
We then discuss Krispy Kreme’s marketing strategy, starting with their mission to become part of the American culture. We also touch on their marketing objectives, financial objectives, target market, as well as their current position in the market. Ending the marketing strategy, we identify Krispy Kreme’s marketing mix, including their product, which is their one-of-a-kind doughnut, price, promotion, and place, as well as come current and potential marketing research.
Fourth, we have developed a brief overview of Krispy Kreme’s financials, which explain the decline in Krispy Kreme revenues in 2004 related to the previous growth they experienced. We explain their declining net income, financials related to overexpansion, and how this has affected Krispy Kreme in the stock market.
We then identified four alternative strategies ranked by order of preference that could potentially help Krispy Kreme overcome their
We begin our report by touching on the history of Krispy Kreme. Vernon Rudolph started Krispy Kreme in 1933 when he bought a doughnut shop from Joe LeBeau. He later established the first Krispy Kreme in Salem, North Carolina. After Scott Livengood became CEO, the company repositioned itself and focused on being a specialty retailer, rather than a wholesale bakery. They soon began expanding rapidly throughout the United States. This particular case took place in 2004 Krispy Kreme was beginning to run into some serious problems.
Next we discuss the situation analysis beginning with the market summary. Here we explain the demographics, psychographics, and behavioral attributes along with the market needs, trends, and growth. Second, we conducted an SWOT analysis finding the company’s strengths, weaknesses, opportunities, and threats. After analyzing the SWOT, we configured some important critical issues. The last part of the situation analysis discusses the industry of Krispy Kreme, including the competition and macro environment.
We then discuss Krispy Kreme’s marketing strategy, starting with their mission to become part of the American culture. We also touch on their marketing objectives, financial objectives, target market, as well as their current position in the market. Ending the marketing strategy, we identify Krispy Kreme’s marketing mix, including their product, which is their one-of-a-kind doughnut, price, promotion, and place, as well as come current and potential marketing research.
Fourth, we have developed a brief overview of Krispy Kreme’s financials, which explain the decline in Krispy Kreme revenues in 2004 related to the previous growth they experienced. We explain their declining net income, financials related to overexpansion, and how this has affected Krispy Kreme in the stock market.
We then identified four alternative strategies ranked by order of preference that could potentially help Krispy Kreme overcome their