Rogers' Chocolate Case Study
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Roger's Chocolate Case Study for ENT 101- Business Foundations
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Rogers' Chocolate Case Study
- 1. Rogers’ Chocolates Theerawat Thongrompo (Buddy), Steven Arias, John Tran, Kaycie Kasza-Hook and Kaitlyn Schaaf
- 2. AGENDA ◼ SWOT Analysis ◼ Finances ◼ Competitors ◼ The chocolate market ◼ Expansion in the United States ◼ Recommendations
- 3. SWOT ANALYSIS Strengths ◼High quality premium chocolate ◼Established brand/great image ◼Long shelf life (6 months) ◼Wide variety of selection Weaknesses ◼Weak foreign customer base ◼Conflict with members in the management ◼Demand forecasting ◼Resistance to change
- 4. SWOT ANALYSIS (continued) Opportunities ◼Expand target market ◼Franchise ◼Create new brand image, packaging ◼New advertising Threats ◼Decline of tourists in Victoria ◼Chocolate competitors
- 5. Rogers’ Chocolate Income Statement, 2005 and 2006 2005 2006 Sales $11,991,558 $11,850,480 - Cost of sales $5,378,187 $5,385,088 Gross profit $6,613,371 $6,465,392 + Interest Income $1,610 $664 - Expenses $5,094,088 $5,312,985 Earning before taxes $1,520,893 $1,153,071 - Taxes $451,567 $261,989 Net earnings $1,069,326 $891,082 Retain earnings, beginning of the year $4,381,155 $4,748,611 Net earnings $1,069,326 $891,082 - Dividends $707,870 ------- Retained earnings at the end of the $4,748,611 $5,639,693 FINANCES
- 8. 2005 Cash Flow Percentages Operating = 89.18% Financing = 2.15% Investing = 8.67% 2006 Cash Flow Percentages Operating = 44.38% Financing = 17.31% Investing = 38.31%
- 10. COMPETITORS
- 11. COMPETITORS Cont. Godiva ➢ Packaging skills ➢ Widespread distribution among retailers of gift items Bernard Callebaut ➢ Various stores located near Rogers’ ➢ Excelled various flavors ➢ Customizable packaging Lindt ➢ Distributed in mass merchandisers ➢ Pricing was 90% of Rogers’ ➢ Marketing Purdy ➢ Pricing was lower (35% than Rogers’) ➢ Product quality was lower than Rogers’
- 12. Competitors vs. Rogers’ Chocolate Quality Pricing Packaging Godiva lower higher modern day Bernard Callebaut lower higher superior Lindt lower lower mid-range Purdy’s lower lower very good
- 13. THE CHOCOLATE MARKET Canadian Chocolate Market ◼size was US$ 167 million (2006) ◼low margins ◼2% growth annually Premium Chocolate Market ◼very high margins ◼20% growth annually Change in the Market ◼demand for dark and organic chocolate ◼environmental and human right concerns ◼social responsibility
- 14. Expansion in the United States ◼ Location: high income areas, large cities, big name tourist sites ◼ U.S chocolate industry: $18 billion, 3-4% growth annually (National Confectioner’s Association) ◼ Advantage: high consumption of chocolate, big chocolate industry ◼ Disadvantage: a lot of competition with American branded chocolate like Hershey’s and Reese’s ◼ American candy is cheaper than premium candy ◼ Packaging costs less for online orders if there are stores in the US
- 15. Recommendations ◼ Create a partnership with other companies ◼ Rebrand images to create a new customer base ◼ Increase brand awareness through better advertising ◼ Social Media: Facebook, Instagram, Twitter ◼ New promotions: Rogers’ Chocolates member cards, discounts, customer rewards ◼ New packaging for chocolate suited to the US