Harvard Case - Grandma Treesaw's Bannock: Mixing In Growth
"Grandma Treesaw's Bannock: Mixing In Growth" Harvard business case study is written by Dominic Lim, Zuhayr Abbas, Nick Fox. It deals with the challenges in the field of Entrepreneurship. The case study is 9 page(s) long and it was first published on : Nov 16, 2023
At Fern Fort University, we recommend Grandma Treesaw's Bannock pursue a strategic growth plan focused on expanding its market reach through a combination of online sales, strategic partnerships, and targeted marketing initiatives. This approach will leverage the brand's strong reputation and traditional values while embracing modern technology and distribution channels to achieve sustainable growth.
2. Background
Grandma Treesaw?s Bannock is a successful family-owned business specializing in traditional Indigenous bannock, a staple food in many cultures. The company has a strong reputation for its high-quality, authentic products and commitment to cultural heritage. However, the business is facing challenges in scaling its operations to meet growing demand and capitalize on the increasing popularity of Indigenous cuisine.
The case study focuses on the entrepreneurial journey of the company?s founders, Sarah and Michael Treesaw, as they navigate the challenges of growing a family business while preserving its core values. They are considering various options for expansion, including online sales, partnering with larger retailers, and even potentially going public.
3. Analysis of the Case Study
To analyze the case, we can utilize the Business Model Canvas framework. This framework helps us understand the key components of Grandma Treesaw?s Bannock?s existing business model and identify opportunities for improvement:
Key Partners:
- Family members
- Local suppliers
- Distributors (current and potential)
Key Activities:
- Bannock production
- Recipe development
- Packaging
- Marketing and sales
Key Resources:
- Family recipes and knowledge
- Production facilities
- Brand reputation
- Distribution network
Value Propositions:
- Authentic, high-quality bannock
- Cultural heritage and tradition
- Sustainable and ethical sourcing
Customer Relationships:
- Direct sales at festivals and events
- Local retailers
- Online sales (potential)
Channels:
- Farmers? markets
- Local stores
- Online platforms (potential)
Customer Segments:
- Indigenous communities
- Foodies and culinary enthusiasts
- Health-conscious consumers
Cost Structure:
- Production costs
- Marketing and advertising
- Distribution costs
- Family labor
Revenue Streams:
- Direct sales
- Wholesale partnerships
- Online sales (potential)
Opportunities for Growth:
- Online Sales: Leveraging e-commerce platforms can significantly expand the customer base and reach a wider market.
- Strategic Partnerships: Collaborating with larger retailers, food distributors, and online marketplaces can increase brand visibility and sales volume.
- Marketing Initiatives: Targeted marketing campaigns focusing on cultural heritage, health benefits, and unique flavor profiles can attract new customers.
- Product Diversification: Expanding the product line to include variations of bannock, complementary products, and meal kits can cater to different customer preferences and increase revenue streams.
4. Recommendations
To achieve sustainable growth, Grandma Treesaw?s Bannock should implement the following recommendations:
1. Embrace Online Sales:
- Develop an E-commerce Platform: Create a user-friendly website or online store to sell bannock directly to consumers.
- Optimize for Search Engines: Implement search engine optimization (SEO) strategies to improve online visibility and drive traffic to the website.
- Leverage Social Media: Utilize social media platforms to engage with customers, build brand awareness, and promote online sales.
- Partner with Online Marketplaces: Explore partnerships with online marketplaces like Amazon, Etsy, or specialty food platforms to reach a wider audience.
2. Forge Strategic Partnerships:
- Collaborate with Retailers: Target partnerships with grocery stores, specialty food retailers, and Indigenous-owned businesses to expand distribution channels.
- Partner with Food Distributors: Explore partnerships with food distributors to reach a wider range of restaurants, cafes, and institutions.
- Seek Strategic Investments: Consider attracting angel investors or venture capital to support expansion efforts and accelerate growth.
3. Implement Targeted Marketing Strategies:
- Highlight Cultural Heritage: Emphasize the traditional and cultural significance of bannock in marketing campaigns.
- Promote Health Benefits: Feature the nutritional value and health benefits of bannock, appealing to health-conscious consumers.
- Showcase Unique Flavors: Highlight the diverse flavors and variations of bannock, appealing to culinary enthusiasts.
- Target Specific Market Segments: Develop marketing campaigns tailored to different customer segments, such as Indigenous communities, foodies, and health-conscious consumers.
4. Consider Product Diversification:
- Expand Product Line: Introduce new variations of bannock, including gluten-free, vegan, and specialty flavors.
- Develop Complementary Products: Offer complementary products like jams, spreads, or sauces that pair well with bannock.
- Create Meal Kits: Develop meal kits featuring bannock as the centerpiece, providing convenient and delicious meal options.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with the company?s core competencies in producing high-quality, authentic bannock and its mission to preserve and share Indigenous culinary traditions.
- External Customers and Internal Clients: The recommendations address the needs of both existing and potential customers, as well as internal stakeholders like family members and employees.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate Grandma Treesaw?s Bannock through its focus on cultural heritage, quality ingredients, and unique product offerings.
- Attractiveness ? Quantitative Measures: While specific financial projections are not provided in the case study, the recommendations are expected to increase revenue, expand market share, and enhance profitability.
6. Conclusion
By embracing online sales, forging strategic partnerships, implementing targeted marketing strategies, and considering product diversification, Grandma Treesaw?s Bannock can achieve sustainable growth while preserving its core values and cultural heritage. This approach will leverage the company?s strong reputation, traditional recipes, and commitment to quality to capitalize on the growing demand for Indigenous cuisine and expand its reach to a wider audience.
7. Discussion
Alternative options for growth, such as franchising or going public, could also be considered. However, these options pose significant risks and require significant capital investment. Franchising could dilute the brand?s authenticity and control over operations, while going public could compromise family ownership and create pressure to prioritize shareholder value over cultural values.
Key Assumptions:
- The demand for Indigenous cuisine will continue to grow.
- The company can successfully develop and implement an online sales platform.
- Strategic partnerships can be established with retailers and distributors.
- Marketing campaigns will be effective in attracting new customers.
- The company can manage the challenges of scaling operations while maintaining product quality and cultural authenticity.
8. Next Steps
To implement these recommendations, Grandma Treesaw?s Bannock should take the following steps:
- Develop a detailed business plan: Outline specific goals, strategies, and timelines for each recommendation.
- Secure funding: Explore options for financing expansion efforts, including angel investments, venture capital, or bank loans.
- Build a strong team: Recruit and hire experienced professionals in e-commerce, marketing, and operations to support growth initiatives.
- Develop a strong online presence: Create a user-friendly website, optimize for search engines, and engage with customers on social media.
- Establish strategic partnerships: Identify and cultivate relationships with potential partners in retail, distribution, and online marketplaces.
- Implement targeted marketing campaigns: Develop and execute marketing campaigns focused on cultural heritage, health benefits, and unique flavors.
- Monitor progress and adjust strategies: Regularly assess the effectiveness of growth initiatives and make adjustments as needed.
By taking these steps, Grandma Treesaw?s Bannock can achieve sustainable growth while preserving its cultural heritage and becoming a leading brand in the Indigenous food industry.
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Case Description
Teresa Ward, founder of Grandma Treesaw's Bannock (GTB), had recently received positive media coverage from the Canadian Broadcasting Corporation and was hoping to leverage it to grow her Yukon-based bannock-mix business. She was considering two options: expand her direct to consumer offer by working with Shopify Inc. to improve GTB's e-commerce sales or grow her product portfolio by introducing two new flavours of bannock mix. A few questions loomed in Teresa's mind: Could she do both? Did GTB have the organizational resources to pursue this expansion plan successfully? What should her implementation timeline look like? What financial analysis would need to be done to support the decision-making process? She wanted to decide which option to pursue in the next three to four weeks.
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