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BM350 Case-22 Cowgirl Chocolates




Question;BM350 Marketing Management;Directions: Be sure to make an electronic copy of your;answer before submitting it for grading. Unless otherwise stated, answer;in complete sentences, and be sure to use correct English spelling and;grammar. Sources must be cited in APA format. Your response should;be a minimum of one (1) single-spaced page to a maximum of two (2);pages in length, refer to the "Assignment Format" page for;specific format requirements.;Case 22: Cowgirl;Chocolates (pp. 488-500);Marilyn Lysohir, an;internationally celebrated ceramic artist, started Cowgirl Chocolates to;provide some funding support for a yearly published arts magazine, High;Ground, that she and her husband, Ross Coates, started in 1995. Her love of;chocolates and hot and spicy foods spurred the idea of making hot and spicy;chocolates to be sold in creative, artistic tins and packaging, which she;labeled Cowgirl Chocolates. Her small business, begun in 1997, had won a number;of awards in fiery food competitions. While Cowgirl Chocolates had grown;steadily over its four years in business, it still had only generated $30,000;in sales revenue in 2000, which was not enough to cover expenses. Marilyn had;drained much of her personal savings to keep Cowgirl Chocolates in business.;Her cash accounting methods and record keeping were not very sophisticated;although she seemed to have a good sense of her costs in production and raw;materials and the packaging. However, Marilyn had taken a shotgun approach to;most of her marketing efforts and had tried a number of activities to increase;product demand. She allowed herself to make one risky financial move each year;in her pursuit of profitability and increased sales. She had just made her one;risky move for year 2001: She had taken out a full-page ad in Chile Pepper;magazine for $3,000.;Questions;1. The suggested retail price and;wholesale prices of Cowgirl Chocolates products are displayed in Exhibit 2 (p.;491) along with the product and packaging costs. Based on this information, discuss;the relative merits of using a cost-based, demand-based, and competition-based;pricing method. (50 points);2. What are;four (4) options that Cowgirl Chocolates may consider as far as pricing? What;would you recommend? (50 points)


Paper#46222 | Written in 18-Jul-2015

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