Business Plan Assessment Part 1: Strategic Improvements

15business Plan Assessment Part 1 Strategic Improvementslatanya Pop

The strategic blueprint devised for Ben & Jerry's has been carefully developed to concentrate on the regional market, with an overall goal of improving brand recognition. The paramount goal is to ascertain that when individuals consider ice creams, the Ben and Jerry's label instantaneously springs to the forefront of their mind. This signifies a notable focus on cultivating a long-lasting and favorable impact within the consciousness of consumers.

The primary goal delineated is to attain a sales figure of $65,000 as an initial benchmark, with a distinct intention to perpetually improve sales in the ensuing years. This exemplifies a steadfast dedication to the continuous advancement and attainment of financial success.

The market development strategy is in accordance with growing trends, thereby enabling the company to proficiently cater to the requirements of its clientele. In its early stages, the strategic blueprint prioritizes the cultivation of robust public relations and the implementation of conventional promotional tactics (Beard, 2021). The inclusion of a diverse range of flavors indicates an in-depth knowledge of the varied preferences within the target market.

Ben & Jerry's emphasizes ensuring the highest standards in their ice cream manufacturing procedures. This involves careful consideration of factors such as ice crystal formation, air cell distribution, fat globule size, and liquid phase incorporation. Regular updates to these processes enable the business to consistently deliver products of exceptional quality.

The plan recognizes the psychological and nutritional benefits of ice cream, highlighting the presence of L-Tryptophane for relaxation, and essential nutrients like calcium and phosphorus essential for bodily functions. Understanding these benefits supports strategic marketing efforts and enhances the brand's positive perception.

Distribution methods involve purchasing ready-made bases from reliable suppliers, adding unique flavors, and freezing with sophisticated machinery. There is potential for ongoing enhancement of ingredients and procedures to distinguish the product further.

Key performance indicators (KPIs) include tracking top-selling flavors, assessing flavor profitability, monitoring consumer spending trends, and managing labor costs effectively. These metrics provide concrete benchmarks to evaluate performance and inform strategic adjustments.

The strategy emphasizes strengthening public relations, executing comprehensive advertising campaigns, and fostering community engagement through sponsorships and philanthropy. Offering a diverse product range and employing traditional promotional tactics are essential steps towards increasing brand prominence and customer engagement.

Ben & Jerry's demonstrates entrepreneurial agility by actively monitoring market dynamics, acquiring knowledge, and fostering innovation (Najar & Rather, 2020). Their adaptability ensures effective navigation of a competitive and evolving marketplace, allowing them to swiftly seize opportunities and address challenges.

Paper For Above instruction

Ben & Jerry's, established in 1978 by Jerry Greenfield and Ben Cohen, has become a prominent player in the frozen dessert industry, specializing in ice cream, frozen yogurt, and sorbet. The company’s strategic approach emphasizes differentiation through quality, social responsibility, and innovation, positioning itself as a leader in both product excellence and corporate citizenship.

The effectiveness of Ben & Jerry’s operational strategy is rooted in clearly defined roles and responsibilities that align with its mission to deliver high-quality products while fostering social justice and environmental sustainability (Michalak, 2019). This strategic clarity helps sustain their market position and enhances brand loyalty among consumers. Their objectives include becoming the leading brand within the dairy product market, achieved through strategic collaborations with research and development experts, food scientists, and social entrepreneurs (Mei, 2018).

External factors such as FDA regulations, import tariffs, and economic conditions significantly influence Ben & Jerry’s operations. Stringent labeling laws ensure product safety, but tariffs increase retail costs and impact competitiveness. Internally, the company’s strengths include a robust market share, a recognizable brand image, stable supplier relationships, and a comprehensive global distribution network. However, challenges such as declining profit margins, regulatory compliance costs, and substantial investments in social initiatives remain hurdles that require strategic management (Marchese, 2020).

Ben & Jerry’s also commits to social and environmental causes, integrating principles of corporate social responsibility and sustainability into its core operations. The company’s initiatives include sourcing Fair Trade ingredients, promoting sustainable dairy farming, and reducing their ecological footprint by eliminating petroleum-based plastics in packaging by 2025 (Sorensen, 2020). These efforts not only differentiate the brand but also foster consumer trust and loyalty among socially conscious buyers.

Internal capabilities, such as a dedicated Equity Team and focus on workforce diversity, underpin their strategic initiatives. The company recognizes diversity as an asset and actively promotes an inclusive corporate culture. This approach aligns with their long-term objective to foster a fair and equitable working environment which resonates with their brand ethos and enhances stakeholder engagement (Marchese, 2020).

In conclusion, Ben & Jerry’s strategic management exemplifies a comprehensive approach that balances operational excellence, innovation, social responsibility, and sustainability. Their ability to adapt to changing external conditions while maintaining a strong brand identity provides insights into resilience and strategic foresight. Going forward, their focus on continuous process improvement, community engagement, and environmental initiatives will be pivotal to sustaining their competitive edge in the evolving market landscape.

References

• Marchese, D. (2020). Ben & Jerry's Radical Ice Cream Dreams.
• Mei, S. (2018). The impact of acquisitions of small social enterprises by giant multinational corporations on the consumers' brand perception of the acquired firm: the case of Ben & Jerry's (Doctoral dissertation).
• Michalak, R. (2019). Ben & Jerry’s: Continuing to turn values into value through Linked Prosperity. In Perspectives on Purpose (pp. ). Routledge.
• Najar, A. & Rather, A. (2020). Mediating role of guest’s attitude toward the impact of UGC benefits on purchase intention of restaurants; Extending social action and control theories. Journal of Foodservice Business Research. 23. 10.1080/.2020..
• Beard, A. (2021, January 13). Why Ben & JERRY'S speaks out. Harvard Business Review.
• Michalak, R. (2019). Ben & Jerry’s: Continuing to turn values into value through Linked Prosperity. In Perspectives on Purpose. Routledge.
• Sorensen, L. (2020). Analyzing the Adoption of Corporate Social Responsibility Strategies.
• Additional scholarly sources on corporate social responsibility, branding strategies, and sustainability in the dairy industry.