...Ethel’s Chocolate Lounges: Back to the Future? Chocolate Lounges Taste Sweet Success 1 Ethel’s Chocolate Lounges: Back to the Future? Chocolate Lounges Taste Sweet Success 2 Describe the type of consumer buying decision that best describes the choice to indulge at Ethel’s. Two out of the three consumer buying decisions will be utilized in consumers who become patrons of Ethel’s Chocolate Lounges, Limited Decision Making and Extensive Decision Making. Consumer’s unfamiliarity with the specific brand or type of chocolate used by the new chocolate lounge but common knowledge and long standing history of chocolate in general from previous experience will mean they will expend only a moderate effort in searching for information in relation to the new lounge in their local area. There is no need to spend an extensive amount of time researching what it is, its benefits, side effects, or other details that one would be interested in knowing about before trying a completely different and new product because they have a general idea of its use and effects which falls under the characteristics of Limited Decision Making. In their pursuit to attract the “well-heeled consumer”, Ethel’s is capitalizing on its chic chocolate house and premium gourmet chocolate all geared in attracting the coffee house crowd by “coddling their patrons in the lap of luxury” and allowing them the opportunity to “enjoy the sweet taste of the good life” (Marketing 100 Case Study). Because Ethel’s prices...
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...Abstract This paper intends to present for review “Ethel’s Chocolate Lounges: Back to the Future? Chocolate Lounges Taste Sweet Success” (hereinafter, “Ethel’s”) case study and will address: (1) the type of consumer buying decision that describes the indulgence of Ethel’s; (2) factors that cause a consumer to visit and buy at Ethel’s; (3) justify the factor the writer thinks motivates a consumer most; and (4) assess what the Ethel’s experience needs to appeal to most. Ethel’s Chocolate Lounges The chocolate house dates back to seventeenth-century London, when members of society’s elite would gather in luxurious surroundings to relax and sip hot chocolate. Later, Europeans expanded on that idea and developed solid chocolate treats that sold in upscale boutiques. Lacking the resources and economy of established continental, bootstrapping American settlers pioneered the development of cheaper chocolate bars for the masses. Centuries have passed, however, and the American palate has tired of the taste of mass- produced chocolate. The U.S. chocolate industry has experienced growth of less than 3 percent since the turn of the millennium, and the lack of industry innovation has left a bad taste in chocolate purveyors’ mouths, too. Enter Ethel’s Chocolate Lounges, named in honor of the matriarch of the Mars family, who founded the candy company with her husband Frank in 1911. Ethel M...
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...“Ethel’s Chocolate Lounges: Back to the Future? Chocolate Lounges Taste Sweet Success” Describe the type of consumer buying decision that best describes the choice to indulge at Ethel’s. The type of consumer buying decision that best describes the choice to indulge at Ethe’ls is the extensive decision making. Consumers practice extensive decision making when buying an unfamiliar, expensive product or an infrequently bought item. This process is the most complex type of consumer buying decision and is associated with high involvement on the part of the consumer. Price plays a major part in the in decision making. The President of Ethel’s, John Haugh maintains that what makes Ethel’s special is that it offers “approachable gourmet chocolate.” In other words, you don’t have to be a millionaire to enjoy the sweet taste of the good life. However the prices of these chocolates are not for everyone’s wallet. A few items from their Luxurious chocolate menu include: Truffles and Tea for Two, which features all 11 of Ethel’s truffles served on a silver platter, sells for $15. Chocolates and Cocoa for Two includes two cocoas and 10 pieces of chocolate for $18, and a box of 48 chocolates is $42. Five “Collections” offer over 50 individual chocolates that sell for between $.90 and $1.50 each. So before a customer would dives into one of Ethel’s sweet treats they would possibly go through extensive decision making to ensure that Ethel’s Chocolates are would the price. Discuss the...
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...Ethel’s Chocolate Lounges: Back to the Professor Sally Walters Marketing 100 April 29, 2012 Describe the type of consumer buying decision that best describes the choice to indulge at Ethel’s. Two out of the three consumer buying decisions will be utilized in consumers who become patrons of Ethel’s Chocolate Lounges, Limited Decision Making and Extensive Decision Making. Consumer’s unfamiliarity with the specific brand or type of chocolate used by the new chocolate lounge but common knowledge and long standing history of chocolate in general from previous experience will mean they will expend only a moderate effort in searching for information in relation to the new lounge in their local area. There is no need to spend an extensive amount of time researching what it is, its benefits, side effects, or other details that one would be interested in knowing about before trying a completely different and new product because they have a general idea of its use and effects which falls under the characteristics of Limited Decision Making. In their pursuit to attract the “well-heeled consumer”, Ethel’s is capitalizing on its chic chocolate house and premium gourmet chocolate all geared in attracting the coffee house crowd by “coddling their patrons in the lap of luxury” and allowing them the opportunity to “enjoy the sweet taste of the good life” (Marketing 100 Case Study). Because Ethel’s prices are a little more expensive than what the average consumer is used to paying...
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...questions related to Ethel’s Chocolate Lounges: Back to the Future? Chocolate Lounges Tastes Sweet Success” case study. We will address (1) the type of consumer buying decision that describes the indulgence of Ethel’s; (2) factors that influence a consumer to spend money and time at Ethel’s; (3) justifying which factor is thought to motivate the consumer the most and; (4) determining what needs the Ethel’s experience appeals to the most. Consumer buying process When consumers buy a product or service, the consumer decision-making process is generally followed. As we have learned, this process usually falls into three broad categories denoted as the continuum of consumer buying decisions: routine consumer behavior, limited decision making, and extensive decision making. Consumers often follow the stages of the decision-making process but often times the stages are reversed or skipped much like that of impulse buying for example, when a consumer will most likely skip all together, the information search and evaluation of alternatives stages. One type of consumer buying process that described the choice to indulge in Ethel’s is need recognition. The boredom with mass produced chocolate makes those who love chocolate see a “need” for a new and different taste and method of delivery (i.e. the chocolate shop). Consumers will seek out new ways to get what they want when they are bored with the old ones. Ethel’s advertisement describes the lounge as “a place for chocolate and chitchat”...
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...Ethel’s Chocolate Lounges: Back to the Future? Chocolate Lounges Taste Sweet Success Rosalind D. Perry Strayer University – White Marsh Campus Anyone who loves to taste the sweet blends of chocolates find it hard to just find the perfect chocolate. It is almost difficult to decide when there are several distributors trying to lure customers to their stores and taste what they have to offer. From the true lover to the part-time lover everyone is looking for the best chocolate and at the best prices. Yes, we would like to get the best chocolates for Valentine’s Day, Anniversary, or birthday; however, Ethel would want to take into consideration a few factors when operating her business. For Ethel, she had to take into consideration that during the period of 2002 to 2004 chocolates sales soared by twenty percent. Even though the figures were from a period well noted for sales, Ethel would still have to take into consideration – Who would be her competition? The competition factor comes from the likes for Godiva and Starbucks and Ethel knows in order to be successful she will have to do her research well. Ethel’s first choice was her decision as to where the store would be located; so she chose, Chicago. Chicago is known for the purest of chocolate loves because they hold The Chicago Chocolate Tours which attracts any chocolate lover. These tours are going on all year long and there are plenty of things...
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...Running head: ETHEL’S CHOCOLATE LOUNGES 1 “Ethel’s Chocolate Lounges: Back to the Future? Chocolate Lounges Taste Sweet Success” Katherine Banks Strayer University Author’s Note This paper was prepared for Marketing 100, taught by Dean Carol Williams. ETHEL’S CHOCOLATE LOUNGE 2 Abstract This paper is being prepared to research the choice consumers make to numerous visits at Ethel’s Chocolate Factory. It is also an effort to illustrate the type of consumer buying choice that best describes the selection to indulge at Ethel’s. It will focus on what factors that influence a consumer to spend money and time at Ethel’s. An explanation on which factor I think will motivate a consumer the most will be...
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...Ethel’s Chocolate Lounges This report is based on a Case Study: “Ethel’s Chocolate Lounges: Back to the Future? Chocolate Lounges Taste Sweet Success”. The report will reflect on four points: describing the types of consumer buying decision to indulge at Ethel’s, the consumer’s influences of time and money spent at Ethel’s, what motivates Ethel’s customers and finally exploring the needs the customer experience appeals to most. CONSUMERS BUYING DECISIONS As noted in the Case Study the chocolate house dates back to the 17th Century as a place where the elite socialites would indulge on chocolate treats and sip hot chocolate in luxurious surroundings and in upscale boutiques. Ethel’s founded in 1911 in honor of the matriarch of the Mars family who made chocolate treats in their home becomes Ethel’s Chocolate Lounge in Chicago, IL in April 2005. Ethel’s idea of being the “Approachable Gourmet Chocolate” gives its customers gourmet chocolates with reasonable prices. Consumers buying decisions usually fall into three categories: routine responses behavior, limited decision making and extensive decision making and five factors: involvement, time, cost, information search, and number of alternatives. (Lambi, Hair & McDaniel, 2011) Each factor determines a low to high activity or action for each consumer buying decision category. Ethel’s customers may experience limited decision making because most people have purchased some brand of chocolate but more thought...
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...around a plastic guitar-shaped controller. Players press colored buttons along the guitar neck to match a series of dots that scroll down the TV in time with music from a famous rock tune, such as the Ramones’ “I Wanna Be Sedated” and Deep Purple’s “Smoke on the Water.” Players score points based on their accuracy. In November 2007, Harmonix released Rock Band, adding drums, vocals, and bass guitar options to the game. Rock Band has sold over 3.5 million units with a $169 price tag (most video games retail at $50 to $60). In 2006, Harmonix’s founders sold the company to Viacom for $175 million, maintaining their operational autonomy while providing them greater budgets for product development and licensing music for their games. Harmonix’s success, however, did not come overnight. The company was originally founded by Alex Rigopulos and Eran Egozy in 1995, focused around some demo software they had created in grad school and a company vision of providing a way for people without much musical training or talent to experience the joy of playing and creating music. The founders believed that if people had the opportunity to create their own music, they would jump at the chance. Their software, which they eventually dubbed The Axe, provided basic music composition tutorials and allowed participants to use a joystick to improvise solos along to popular music tracks. They attempted to market their creation through an interface with Japanese karaoke machines, a demo package deal with Intel...
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...around a plastic guitar-shaped controller. Players press colored buttons along the guitar neck to match a series of dots that scroll down the TV in time with music from a famous rock tune, such as the Ramones’ “I Wanna Be Sedated” and Deep Purple’s “Smoke on the Water.” Players score points based on their accuracy. In November 2007, Harmonix released Rock Band, adding drums, vocals, and bass guitar options to the game. Rock Band has sold over 3.5 million units with a $169 price tag (most video games retail at $50 to $60). In 2006, Harmonix’s founders sold the company to Viacom for $175 million, maintaining their operational autonomy while providing them greater budgets for product development and licensing music for their games. Harmonix’s success, however, did not come overnight. The company was originally founded by Alex Rigopulos and Eran Egozy in 1995, focused around some demo software they had created in grad school and a company vision of providing a way for people without much musical training or talent to experience the joy of playing and creating music. The founders believed that if people had the opportunity to create their own music, they would jump at the chance. Their software, which they eventually dubbed The Axe, provided basic music composition tutorials and allowed participants to use a joystick to improvise solos along to popular music tracks. They attempted to market their creation through an interface with Japanese karaoke machines, a demo package deal with Intel...
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...Insights into the Food, Beverage, and Consumer Products Industry GMA Overview of Industry Economic Impact, Financial Performance, and Trends The Grocery Manufacturers Association (GMA) represents the world’s leading branded food, beverage, and consumer products companies. Since 1908, GMA has been an advocate for its members on public policy issues and has championed initiatives to increase industrywide productivity and growth. GMA member companies employ more than 2.5 million workers in all 50 states and account for more than $680 billion in global annual sales. The association is led by a board of member company chief executives. For more information, visit the GMA website at www.gmabrands.com The Food Products Association (FPA) is the largest trade association serving the food and beverage industry in the United States and worldwide. FPA’s laboratory centers, scientists, and professional staff provide technical and regulatory assistance to member companies and represent the food industry on scientific and public policy issues involving food safety, food security, nutrition, consumer affairs, and international trade. For more information, visit FPA’s website at www.fpa-food.org The member firms of the PricewaterhouseCoopers network (www.pwc.com) provide industry-focused assurance, tax, and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 130,000 people in 148 countries across our network work collaboratively...
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...S T R A T E G Y – II S T R A T E G Y – II S T R A T E G Y – II S T R A T E G Y – II S T R A T E G Y – II www.ibscdc.org 1 Transformation Corporate Transformation Korean Air: Chairman/CEO Yang-Ho Cho’s Radical Transformation A series of fatal accidents, coupled with operational inefficiencies snowballed Korean Air into troubled times. Then, at the beginning of the 21st century, its CEO/ Chairman, Yang-Ho Cho undertook various transformation initiatives - for instance, improving service quality and safety standards, technology integration, upgrading pilot training, better business focus; putting in place a professional management team, improving corporate image through sponsorship marketing, etc. He gave a new corporate direction in the form of '10,10,10' goal. However, Korean Air is held up by a slew of challenges. Among which are inefficiencies of - Chaebol system of management, possible clash of its cargo business with its own shipping company, limited focus on the domestic market and growing competition from LCCs. How would Korean Air manage growth as a family-owned conglomerate? The case offers enriching scope for analysing a family business’s turnaround strategies, with all the legacy costs involved. Pedagogical Objectives • To discuss the (operational) dynamics of Korean Chaebols - their influence/ effects on the country’s industrial sector and the economy as a whole • To analyse how family-owned businesses manage the transition phase - from a supplier-driven...
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