Cowgirl Chocolate Analysis Essay Sample

rather with regular, non-spicy chocolate options. Hence, competition is not a significant factor for the brand.

The cowgirl cocoa merchandise is solely based on novelty and not driven by any external market demand. I strongly believe that Marilyn's promotion of it has been detrimental.

It is my belief that focusing less on trade shows and investing more time and money into her website could be beneficial for Marilyn, as her website contributes one third of her revenue. Additionally, Marilyn may have priced her chocolates too high and may not have fully considered that consumers would be more inclined to purchase the cheaper and less spicy variety. There are further issues regarding the operation of Cowgirl Chocolates beyond just the products themselves.

Due to the small size of cowgirl cocoas, it was difficult to obtain the merchandise while meeting the minimum requirements for production and packaging. Marilyn had to purchase large quantities of products from specific places which led to having to make big batches of her products.

Frequently, the stock list of Cowgirl Chocolates would sit untouched for a long period of time, resulting in accumulation of products that caused complications for the company. Despite increased production, the products weren't being sold quickly enough. Marilyn and her husband ran the entirety of Cowgirl Chocolates without additional help, leaving them unable to accomplish much even with divided duties. To address this issue, I suggest hiring high school or college students seeking employment or offering an unpaid internship program.

It is evident that Cowgirl Chocolates had limited resources. Despite Marilyn's elaborate financial records, she needed to better prioritize her spending. It seems that her perspective on where to allocate funds

was somewhat distorted.

The unnecessary spending habits of Marilyn include purchasing and creating additional products despite having sufficient inventory, as well as inadequately investing in advertising with only a few news articles and a standard magazine ad. My criticism towards Marilyn arises due to her reliance on external aid without seeking professional business assistance. Despite acknowledging her lack of financial expertise, Marilyn missed the opportunity to seek guidance from the SBA, which has been providing valuable experience and advice since 1953.

Marilyn and her spouse have a shared interest in cowgirl cocoas as an addition to their yearly publication, which highlights the obstacles they've faced while pursuing success. The primary challenge is reducing expenses to better promote Cowgirl Chocolates. It's difficult to determine the appropriate phase of entrepreneurship in this situation. Cowgirl Chocolates may not be a viable business concept, placing it at stage 2. However, despite its present struggles, Marilyn could also be seen as managing her entrepreneurial venture at stage 4. Regardless of the circumstances, Cowgirl Chocolates continues to operate through a physical location.

Another option is for Marilyn to invest more money into improving her website, which would increase its efficiency and attract more business. This approach has several advantages, including a fresh and appealing design that can gather sales data and customer information. However, the downside is that building and maintaining a successful website could cost around $13,000 in the first year, with an estimated variation of $2,000.

Investing in the terminal would be costly, but worth it. Alternatively, reducing the stock list to only what can be efficiently transported and avoiding excessive inventory would be better. It is preferable to frequently produce

more products instead of storing large quantities that may expire quickly.

One possibility is to enlist a team of experts to help with accounting, public relations, marketing, and other tasks. This would have the advantage of putting her in capable hands with professionals who possess expertise in their respective fields.

The downside to having multiple services is the expenses involved in maintaining them. The hope is that with professional assistance, Cowgirl Cocoas will thrive. The deciding factors in choosing the best solution are the cost versus the return and the amount of time it takes to become profitable, which should be reasonable and not take years to achieve.

Ultimately, the efficiency of Marilyn and her spouse relies on the amount of aid they receive. The suggested plan is to allocate more funds towards developing the Cowgirl Cocoa website, as it contributes a third of all gross revenues. Additionally, Marilyn should consider enhancing her wholesale purchases to better suit her needs. The following action points need to be addressed: Cowgirl Chocolates requires a skilled individual to maintain their website and approximately $13k for a high-quality website to cover first-year costs.

Reducing specific overhead expenses can assist in offsetting some of these expenditures. As per the plan to enhance the CC website, it will necessitate more than 60 hours and $13,000 for initial planning, design, and upkeep. Nevertheless, there remains a possibility that the website upgrade may not attract public interest.

Investing a significant amount of time and money in advertising is necessary to attract clients to the website. The success of the website can be negatively impacted by inadequate advertising.