Hottie Hawgs
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Executive Summary
Rybka had 25 years of experience in the catering business and already had a successful operating organization prior to partnering with Vaughn. Also, Vaughn had prior skills in barbequing. These strengths gave the company an edge to with experience and knowledge of the industry. Two strong backgrounds merging with the intentions of a strong competitive advantage. Hottie Hawg had brand differentiation. This set them apart from their competitors. Competitors did not have modern and sexy waitress. Another strength is having the accessibility to go to the customers and serve them. Customers did not have to wait in long lines or crowds.
A major strength of Hottie Hawgs is its brand image. Hottie Hawgs has managed to create a unique brand that effectively markets barbeque and sex in a way that creates publicity. The image has evolved since its conception and now the company also employs “Hotties” to sell its product by grabbing the attention of potential customers.
Advertising and promotion effectiveness: – Advertising and promotion help a business to not only promote products but also to create awareness of a particular product. Most big chains have grand marketing strategies to promote and create awareness of their product .Successful promotion and marketing can be the difference success and failure for a product. It says that Tony Romas used an effective marketing strategy when they first introduced their ribs.
Once Rybka died the company took a downward turn for the worst. Profits went down as a result; Vaughn did not have any knowledge of the company and its receipts. He was unable to continue to successfully run the business after his partners death. Assuming this new strategy is implemented this should will prevent other unexpected issues that may arrive.
A recommendation for Hottie Hawgs BBQ would be for them to consider employing business savvy personnel with strong backgrounds in the catering and hospitality industry. These individuals could then formulate and implement marketing strategies that would effectively promote efficient cost analysis for the organization. HHBBQ will not have to wait until mid-contract to say, “Hey there is not enough markups in the products we are shipping”, this can be avoided with proper planning. Employing hospitality staff will potentially assist HHBBQ with maximizing control within the business and minimize risks factors.
SWOT Analysis
Strengths
Rybka had 25 years of experience in the catering business and already had a successful operating organization prior to partnering with Vaughn. Also, Vaughn had prior skills in barbequing. These strengths gave the company an edge to with experience and knowledge of the industry. Two strong backgrounds merging with the intentions of a strong competitive advantage. Hottie Hawg had brand differentiation. This set them apart from their competitors. Competitors did not have modern and sexy waitress. Another strength is having the accessibility to go to the customers and serve them. Customers did not have to wait in long lines or crowds.
Weaknesses
Vaughn had no knowledge of the catering industry. As a result, when Rybka died he had no knowledge or skills to run the company successfully alone. Another weakness is Vaughn trying balance ACT and Hottie Hawgs. As a result, this caused a financial strain on Hottie Hawg. We assume that balancing both companies alone, placed a mental strain on him as well. Also, the inability to expand with HHBQ, due to the lack of cash flow and credit to finance the business.
Opportunities
Hottie Hawg invested in a more basic catering concept with simpler food instead of cuisine that was previously offered, due to the weak state of the U.S. economy. The company saw the opportunity to change with the external environment, to continue making profits in a bad economy. Another opportunity was to use their “sexy” women to serve at barbeque events and parties from the outdoor kitchen on wheels. Advertising with television ads focus around the fourth of July weekend. As a result, NASCAR reached out to Hottie Hawgs to sponsor the Terry/Carter Simo 08 Toyota.
Threats
Rykbas death caused a downturn in the profits of the company. He had all the knowledge of the catering business. He did not inform his partner of the industry. If he had done so the company would have been in a much better financial situation, after his unexpected death. Another threat is the location was too expensive to maintain the semi-permanent location, due to the low customer response. Also, the “Squeeler” could not produce enough food, due the high food demand. Competitors had an advantage to produce at a fast and more efficient pace.
External Analysis
Advertising and promotion effectiveness: – Advertising and promotion help a business to not only promote products but also to create awareness of a particular product. Most big chains have grand marketing strategies to promote and create awareness of their product .Successful promotion and marketing can be the difference success and failure for a product. It says that Tony Romas used an effective marketing strategy when they first introduced their ribs.
Location: – Location is another big factor which affects sales of any industry. Location is the key to the success of any restaurant, and failure to select a good location can be disastrous as building a restaurant is quite costly.
Experience: – Experience is another key factor in the food industry. Traditional BBQ giants like Tony Romas are one of the first few companies to expand in many states and have the experience of operation in a location many miles away from headquarters. Having experience under the belt means that expanding to newer locations is easy, the kind of barrier one faces is known. This can be used as an advantage while expanding
Financial position: