Yorktown Technologies – Case Study – Jmauge1
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Industry Analysis                IndustryThe consumer market for freshwater ornamental fish and related products in the United States exceeds $700 million annually and is growing at a rate of nearly 9 percent per year. The worldwide market is approaching $2 billion per year. One out of every eight households in the U.S. (14.4 million) has a freshwater fish aquarium. However, there are only a couple hundred freshwater ornamental fish producers in the United States. About 24 regional wholesalers, located throughout the country, distribute freshwater ornamental fish to an estimated 5,000 retail establishments for sale to consumers.         CompanyYorktown Technologies is an ornamental fish producer. Pro forma sales projections indicated the company would generate $4 million in profit in 2004. However, company revenues in 2004 were a disappointing $500,000 and expenses were $620,000, producing an operating loss of more than $120,000. Then, in 2008, the CEO of Yorktown Technologies estimated receiving about $4million of the Industry sales ($700 million), giving the company a market share of .57%. Now, Yorktown Technologies announces their marketing of GloFish, which is a genetically modified ornamental fish. This new fish will be fluorescent, which is a new trend in the freshwater fish market.

Trends        Problem/ DecisionAlthough Yorktown Technologies’ sales have increased every year, they are still far below what was projected. With the introduction of GloFish, a new product, Yorktown Technologies needs to determine an appropriate and new marketing strategy, specifically focused on distribution.Alternatives/OptionsIndependent Pet StoresAccording to data from the United States Census Bureau, the number of pet stores is declining at an annual rate of 2%. This information tells us that most customers are brand loyal/store loyal and are continuously buying from the same pet store. The less popular stores are slowly going out of business. At the same time, the total sales of pet stores are increasing at an annual rate of 7%.  A key advantage of this distribution route is that sales are continuously increasing each year. The average pet store in the United States has total sales of about $1.7 million (inflated because of large chain stores).Chain StoresThe majority of the fresh water ornamental fish sold in the United States are purchased from Walmart, PetSmart and PETCO. These three large chains sell freshwater ornamental fish primarily to price-sensitive customers who are not tropical fish enthusiasts. Walmart is not only the largest retailer in the world, but is also the leading retailer of freshwater ornamental fish. All three major chains would not carry the Yorktown Technologies GloFish product when it was introduced. KiosksStudies have shown that collective kiosk sales are about $10 billion annually, with 40% of revenues occurring in November in December. However, renting a mall kiosk will cost Yorktown Technologies anywhere from $12,000 to $36,000 per year.

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(2015, 09). Yorktown Technologies. EssaysForStudent.com. Retrieved 09, 2015, from
“Yorktown Technologies” EssaysForStudent.com. 09 2015. 2015. 09 2015 < "Yorktown Technologies." EssaysForStudent.com. EssaysForStudent.com, 09 2015. Web. 09 2015. < "Yorktown Technologies." EssaysForStudent.com. 09, 2015. Accessed 09, 2015. Essay Preview By: Jmauge1 Submitted: September 14, 2015 Essay Length: 655 Words / 3 Pages Paper type: Case Study Views: 1,156 Report this essay Tweet Related Essays Negative Effects of Technology For a while now, science has been a mystery to man, leading him to want to discover more and more about it. This in many 748 Words  |  3 Pages The Advantages Technology Has Given Us Outweigh the Disadvantages Many argue that as we venture further into the frontier of technology we proceed with a slow death of society, by losing culture and ultimately 489 Words  |  2 Pages Effects of Technology Technology 1 Effects of Technology Technology 2 Effects of technology Throughout history, innovations in technology have assisted humankind improved their standards of living, beginning with 319 Words  |  2 Pages Reading and Technology Reading And Technology Literacy and reading in particular is just one of the aspects in which research has provided evidence of potential impacts of new 1,586 Words  |  7 Pages Similar Topics Technology Nothing Without Process Music Technology Get Access to 89,000+ Essays and Term Papers Join 209,000+ Other Students High Quality Essays and Documents Sign up © 2008–2020 EssaysForStudent.comFree Essays, Book Reports, Term Papers and Research Papers Essays Sign up Sign in Contact us Site Map Privacy Policy Terms of Service Facebook Twitter

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Yorktown Technologies And Freshwater Ornamental Fish. (June 28, 2021). Retrieved from https://www.freeessays.education/yorktown-technologies-and-freshwater-ornamental-fish-essay/