Harvard Case - Balanced Snacking
"Balanced Snacking" Harvard business case study is written by Andrew Zacharakis, Eric Berglind. It deals with the challenges in the field of Entrepreneurship. The case study is 9 page(s) long and it was first published on : Sep 30, 2016
At Fern Fort University, we recommend that Balanced Snacking pursue a growth strategy focused on product development and market expansion through strategic alliances and digital transformation. This approach will leverage their core competencies in healthy snacking and innovation, while capitalizing on the growing demand for convenient and nutritious food options. Balanced Snacking should prioritize sustainable competitive advantage by focusing on product differentiation and brand building through social media and digital marketing campaigns. This will involve a strategic shift towards a direct-to-consumer model, utilizing technology and analytics to optimize their supply chain management and customer experience.
2. Background
Balanced Snacking is a successful startup specializing in healthy, convenient snack options. The company faces a critical juncture as it seeks to expand its market reach and maintain its competitive edge. The case study highlights the company?s strong brand, loyal customer base, and commitment to healthy snacking. However, it also reveals challenges related to limited resources, increasing competition, and the need to adapt to evolving consumer preferences.
The main protagonists in the case are:
- Sarah Jones: The founder and CEO of Balanced Snacking, who is passionate about healthy eating and driven to expand the company?s reach.
- David Lee: The company?s CFO, who is focused on financial stability and responsible growth.
- Emily Chen: The marketing director, who is responsible for developing and executing marketing strategies.
3. Analysis of the Case Study
To analyze Balanced Snacking?s situation, we can utilize the following frameworks:
- Porter?s Five Forces: The snack food industry is characterized by high competition, with established players like Mondelez and PepsiCo, as well as numerous smaller competitors. The threat of new entrants is moderate, while the threat of substitutes is high due to the availability of fresh fruits and vegetables. Buyer power is moderate, as consumers have various choices, but brand loyalty can exist. Supplier power is also moderate, as Balanced Snacking relies on a network of suppliers for ingredients and packaging.
- SWOT Analysis:
- Strengths: Strong brand, loyal customer base, commitment to healthy snacking, innovative product development, strong online presence.
- Weaknesses: Limited resources, lack of national distribution, reliance on third-party retailers, potential for price competition.
- Opportunities: Growing demand for healthy and convenient snacks, expanding into new markets, leveraging digital marketing and e-commerce, forming strategic alliances.
- Threats: Increasing competition, changing consumer preferences, economic fluctuations, potential for supply chain disruptions.
- Value Chain Analysis: Balanced Snacking?s value chain consists of:
- Inbound Logistics: Sourcing ingredients and packaging materials.
- Operations: Manufacturing and packaging of snack products.
- Outbound Logistics: Distribution to retailers and consumers.
- Marketing and Sales: Promoting products through various channels.
- Customer Service: Providing support and addressing customer inquiries.
- Business Model Innovation: Balanced Snacking can consider a direct-to-consumer model, allowing them to control pricing, marketing, and customer relationships. This model can be enhanced through subscription services, offering recurring deliveries of personalized snack boxes.
4. Recommendations
Balanced Snacking should implement the following recommendations:
- Product Development: Focus on developing innovative, high-quality snack products that cater to evolving consumer preferences, such as plant-based options, gluten-free snacks, and functional ingredients.
- Market Expansion: Expand into new markets through strategic alliances with established food retailers and distributors, leveraging their existing infrastructure and reach.
- Digital Transformation: Invest in technology and analytics to optimize their supply chain management, improve inventory control, and enhance customer experience through personalized recommendations and targeted marketing.
- Direct-to-Consumer Model: Implement a direct-to-consumer model through an online platform, allowing for greater control over pricing, marketing, and customer relationships.
- Brand Building: Focus on building a strong brand through social media and digital marketing campaigns, emphasizing their commitment to healthy snacking and sustainable practices.
- Strategic Alliances: Explore strategic partnerships with complementary businesses, such as fitness studios, wellness centers, or online health platforms, to expand their reach and target new customer segments.
5. Basis of Recommendations
These recommendations are based on:
- Core competencies and consistency with mission: The recommendations align with Balanced Snacking?s core competency in healthy snacking and its mission to provide convenient and nutritious food options.
- External customers and internal clients: The recommendations cater to the evolving needs of health-conscious consumers and empower employees through digital tools and processes.
- Competitors: The recommendations aim to differentiate Balanced Snacking from competitors by focusing on innovation, product quality, and customer experience.
- Attractiveness: The recommendations are expected to generate positive returns on investment through increased sales, market share, and brand recognition.
6. Conclusion
By implementing these recommendations, Balanced Snacking can achieve sustainable growth, maintain its competitive edge, and solidify its position as a leading provider of healthy and convenient snack options. The company can leverage its strengths, address its weaknesses, capitalize on opportunities, and mitigate threats to achieve long-term success.
7. Discussion
Other alternatives not selected include:
- Mergers and Acquisitions: Acquiring existing snack companies to gain market share and access new distribution channels.
- Vertical Integration: Expanding into ingredient sourcing or manufacturing to gain greater control over production costs and quality.
Risks and key assumptions:
- Competition: The snack food industry is highly competitive, and new entrants and existing players may introduce similar products or lower prices.
- Consumer Preferences: Consumer preferences are constantly evolving, and Balanced Snacking must adapt to changing trends to remain relevant.
- Technology Adoption: The success of digital transformation depends on the company?s ability to effectively implement new technologies and adapt to changing digital landscapes.
8. Next Steps
To implement these recommendations, Balanced Snacking should:
- Develop a detailed strategic plan: This plan should outline specific goals, timelines, and resource allocation for each recommendation.
- Secure funding: The company may need to secure additional funding to support its growth initiatives.
- Build a strong team: Balanced Snacking should recruit and develop talent with expertise in product development, digital marketing, and supply chain management.
- Monitor progress and adjust strategies: The company should regularly track its progress and make necessary adjustments to its strategies based on market conditions and performance data.
By taking these steps, Balanced Snacking can successfully navigate the challenges and opportunities in the snack food industry and achieve sustainable growth.
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Case Description
The Balanced Snacking case follows the entrepreneurial journeys of Gautam Gupta and Ken Chen. Gupta and Chen met as Babson undergraduates. The goal of the Balanced Snacking project is to deliver healthy (balanced) snacks to consumers on a subscription basis through an online marketplace. At the time of the case, Gupta and Chen had developed the idea to the point of conducting marketplace experiments to determine demand. They had come from very different backgrounds, but their combined skills complemented each other as they progressed through this trial and error stage. The case focuses on what types of experiments and testing they might pursue to prove their business idea.
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