Mistakes of Krispy Kreme
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1. Since I am looking at the failures of Krispy Kreme, I need to explain the following: Describe the mistakes made in the market.
2. How could the mistakes have been avoided (i.e prior to the mistake happening)?
3. Given the mistakes that occurred, how could Krispy Kreme have reacted better to minimize the problem?
4. What are the possible alternatives and describe the strengths and weakness of each?
5. Which alternative would create the least new problems and the easiest to implement.
Please see the ppt attached and just follow theses steps to explain in a word document things in the ppt that explain how Krispy Kreme failed using the 5 steps.
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Solution Summary
This solution describes the mistakes made by the Krispy Kreme.
Solution Preview
In the previous presentation in regard to the Krispy Kreme failure, we took an in depth analysis of its market, so that the weaknesses of the company can be identified. Now here, with the help of the previous market analysis, we will discuss the reasons of the company's failure along with a number of other aspects and alternatives that could have been used by the Krispy Kreme to save its position in the market. In addition to this, the strengths and weaknesses of available alternatives will also be discussed.
By analyzing, the company's total market, size, growth and trends, market characteristics, development and trends, industry practices, customers, products, prices, physical distribution, channels and promotions, we can confer that Krispy Kreme's failure is due to its own mistakes of operating in the market. In present, we all are aware with the fact the markets in which organizations operate had become quite competitive and needs rapid approaches from a firm to maintain its position in comparison to its competitors.
Subsequent are the prominent mistakes made by the Krispy Kreme along with an analysis of how it could have been avoided by the company along with an assessment of available alternative that should have been employed by Krispy Kreme, with their strengths and weaknesses:
The most significant mistake made by Krispy Kreme is its slow movement into international markets whereas its competitors like Dunking Doughnuts were already have made efforts for demonstrating markets in international countries by means of a multi-domestic strategy (Executive Summary, n.d.). This mistake of the company could have been avoided by ...
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