Kingsford® Charcoal is a charcoal company that has excelled in capturing market share and being an example of growth in the industry; however Kingsford® has been experiencing many issues over the past several years. Looking at the companies SWOT1 opportunities, and threats surround them. Growth within the company as well as in the industry has caused a need for structural changes. Kingsford® prides itself on being a high quality charcoal company and its mission is as follows:
“Kingsford® is devoted to bringing the highest quality of charcoal grilling products to all the charcoal grillers out there – all year long!”
The company is very enthusiastic about increasing market share, getting back to the growth it once had, and ultimately increasing profitability. This plan is an outline as to what Kingsford® should do looking forward in order to reach its goals.
Kingsford® needs to look both externally and internally in order to achieve their goals. Internal factors involving product, place, promotion and price need major changes, with exceptional notice to advertizing and merchandising. These major factors need to incorporate the business structure and mission, as well as keep in mind the external environment such as competition, economy, and customer behavior. The customer is key and should be the main focus in every business so Kingsford® must first pinpoint what they want before making any moves. This plan draws up alternative growth strategies that will expand growth in existing markets as well as market development. General outlines of recommendations for the firm are as follows:
Both product lines – the regular charcoal, and the instant charcoal (added lighter fluid) - have been perceived to customers as being high quality products. Kingsford’s reputation relies on its differentiation of quality. The regular charcoal product offers taste, and a...