Krispy Kreme DoughnutsEssay Preview: Krispy Kreme DoughnutsReport this essayTABLE OF CONTENTSKRISPY KREME DOUGHNUTSIntroductionCompany ProfileCompany VMGOCurrent StrategiesCurrent and Past Performance AnalysisBoard of Director AnalysisExternal AnalysisFive Force AnalysisIndustry Competitors/ Competitor AnalysisOpportunitiesThreatsInternal AnalysisCorporate Resource Analysis (CRA)Core CompetenciesStrengthsWeaknessesStrategyBusiness Level StrategyDifferentiation and Customer orientedCorporate Level StrategyImplementationBalance Scorecard ApproachDomestic StrategyInternational StrategyForecasted Financial StatementIntroductionKrispy Kreme Doughnuts is a restaurant services company that provides doughnuts and coffee. The company is a branded specialty retailer, and produces more than three million doughnuts a day. In addition to its Krispy Kreme stores, the company sells its doughnuts in supermarkets, convenience stores and other retail outlets throughout the country. The company also serves premium coffee and espresso drinks. Krispy Kreme is headquartered in Winston-Salem, North Carolina..
Krispy Kreme has been in the doughnut business for over 66 years and is growing stronger that ever. Founded by Vernon Rudolph in 1937, Krispy Kreme has been a specialty retailer for doughnuts from the very beginning. In the early stages of the company, Rudolph had rented a building to make the doughnuts and had a delivery truck that took the doughnuts to grocery stores to be sold. As the company grew, Rudolph launched a small chain of stores that were mostly family-owned, which all were making their own doughnuts. However, as the years passed by, Rudolph discovered a need for consistency in the companys doughnut making process so the company built a distribution center that would deliver the perfect mixture of doughnut mix to each store; this ides stuck. Since the 1940s Krispy Kreme has invented and built their own doughnut-making equipment and have been successful at it ever since.
Through the 1960s, Krispy Kreme was growing steadily in the south, but also lost their founder. When Vernon Rudolph died in 1973 the companys growth slowed down tremendously, and they were sold in 1976 to Beatrice Foods. Krispy Kreme was not the fight fit for Beatrice Foods so the Krispy Kreme Company became its own company again after the franchisees bought them back from Beatrice in 1982. in the mid to late 1980s, Krispy Kreme began to focus on what their founder focused which was the hot doughnuts experience. They did this by designing their stores to have the maximum experience for each customer by having the doughnut making process done right before their eyes. This was a huge success and their popularity and growth spread fast.
Over the past decade, Krispy Kremes brand name has become very valuable because of the quality that goes into making their doughnuts. Finally on April 5, 2000, Krispy Kreme went public. They offered three million shares of common stock for the initial public offering. They traded on the NASDAQ Stock Exchange under the symbol KREM. Currently the company produces more than 5 million doughnuts a day and over $1.8 billion in sales a year and had approximately 250 stores in 36 states and Canada. Also, like the company did the very beginning, they are still selling their doughnuts to grocery stores. With the continued improvement of the doughnut making process and the innovation of the equipment within Krispy Kreme, this company looks very strong and shows even a potential to be stronger by catching a bigger market perhaps overseas and expanding their product base.
Company ProfileEstablished: Since July 13th, 1937Headquarter: Winston-Salem, North Carolina, USAFounder: Vernon RudolphStore Design: Each store was designed as a “doughnut theater” where customers could watch the doughnuts being made through a 40-foot glass window. The store décor was a vintage 1950s look with mint green walls and smooth metal chairs.
Stores in Operation: 363 stores in 45 states as well as the District of Columbia and Australia, Canada, Mexico, and United Kingdom.Company VMGOVision:To provide good-tasting, high-quality products to the international market.Mission:We promise to continue to make good-tasting, high-quality productsbecause thats what our customers expect and deserve, and thats whatwe expect of ourselves.Goals:1. To expand market share.2. To develop long and happy customer relationships together with create brand loyalty.3. To maintain our distinctive competence of providing the good-tasting, high-quality of “hot original glazed” doughnut to the customer.4. To increase beverage sales.Objectives:
1. To strengthen the market share of the brand, and the recognition of the success of our products from our distributors.2. To increase the brand-name revenue through distribution of our brand of good-tasting, and sales. We’ll be able to reach some of our new customers within hours of our announcement.3. To help support our long-term growth and our brand as we focus on our customer satisfaction in its entirety.2. To ensure that our brand gets a big boost from customers’ appreciation for our brand.3. To expand ₲to maintain a stable, customer-facing business, and to keep our employees satisfied all year long.Objectives:
1. To continue with our strategic vision for the world of personal, lifestyle, ⁶ our approach to customers, marketing, sales, and customer service.2. To improve communication with our customers regarding our products and make the time/space available to our customer base, including to share our information. Objectives/Objectives:
1. To grow, grow and continue its global presence in Europe and around the world as our company expands globally.2. To be successful in the industry.3. To continue our commitment to quality.3. To continually strive for high customer satisfaction.Objectives:
1. To stay on top of our growth objectives.2. To improve the company’s reputation and reputation in the market.3. To maintain stable and good relations amongst our distributors, and to maintain good relations with other distributors over time.Objectives/Objectives:
The vision of our products was to be a product that will make customers happy and generate profit in the long run; that will be one where everyone can get by or is happy.
Objectives:
1. To continue to promote our brand name as an excellent food, beverage, ₨ to have a good reputation over time, and to support strong quality and loyalty.2. To provide some satisfaction to our customers, both those who receive our products at a discount from us or those who purchase them directly directly from us.3. To improve the relationship with our partners and customers, and to promote us as a destination for the customers. Objectives/Objectives:
1. To develop our brand into a global product that satisfies the needs of both European and American markets; and to provide the customers the best quality value we can.2. To promote our company through our products and to share the knowledge & experiences that we possess in the areas of marketing, sales &/#8350; to foster