Discuss the essential activities involved in the initial planning of an audit. How do these all specifically to the Smackey Dog Food client?…
Smackey Dog Foods, Inc is a new client to Keller CPAs firm. The nature of business for this company is to produce natural dog food. Keller has never had any experience in the audit on this industry before. Smackey Dog Foods started in a family kitchen, experienced explosive growth, and have had some troubles handling the accounting side of the business. The auditor identifies that main purpose of Smackey Dog Food to obtain an audit report is to fulfill the bank requirement of additional loan for $150,000 on top of the company’s current existing bank loan for $150,000.…
According to Martinez and Kaufman’s “Twenty Years of Competition Reshape the U.S. Food Marketing System,” the food market is becoming increasingly competitive. Over the last 20 years there have been tremendous changes in the way food is bought in the retail market. Consumers are looking for value and differentiation and the retailers are working hard to follow.…
Menu Foods was the largest maker of wet cat and dog food in North America, and the company was identified as a supermarket, pet product retailer or wholesaler. In 2007, Menu Foods was part of a recall of up to 100 brands and 60 million cans of pet food, which was the largest pet food recall in history. On March 15th. 2007, the FDA, the Food and Drug Administration, initiated the pet food recall. But not until April did the FDA announce that it was an ingredient, wheat gluten imported from China that contained the melamine which led to a kidney failure. This contaminated food caused 100 pets to die by the end of March and caused nearly 500 kidney failures. Menu Foods’ crisis communication was ineffective in three ways: first, Menu Foods did not institute a product recall until March 16, 2007, 24 hours after the FDA initiated it, which demonstrated that Menu Foods lacked a quick response to the crisis; second, its CEO, Paul Henderson, lacked clarity in answering questions during the investigation, which demonstrated that Menu Foods lacked transparency; third, Menu Foods did not apologize to the public, which demonstrated a lack of concern and sympathy for the victims of the crisis.…
Smackey Dog Foods, Inc. has approached Keller CPAs to conduct an audit of the financial statements. The purpose of this summary is to describe the expectations that Keller CPAs has regarding how the audit of Smackey Dog Foods, Inc. will be conducted. Smackey Dog Foods, Inc. is a privately held corporation and is not…
The dog food market is an enormous $10 billion market. Positioning within this market will require some careful consideration of the market dynamics. Due…
A company can benefit from its brand as long as the brand creates additional values for the customers.1–6 Brand image and brand personality bring extra benefits, such as trust, reliability, and sophistication. Perceptions of a brand are reflected by the brand associations in consumers’ memory (Chiang, Chih-Ying; Wang, 2008), We will focus on customers that love their pets and want to provide them with the best nutritional foods. The target market are customers from 18 to 65. With the assumptions that customer are willing to pay competitive prices for quality food. The name of the product are the names of the owner dogs. This consumer will be able to easily identify with the products and it could be the name of their pet. The logo is a picture of a dog, which clearly identifies this product is for dogs send the message of being trustworthy. The experience is about feelings of happiness, pride, appreciation, confidence, etc., not about money per se (Iacobucci, 2014). Our position to provide products as being competitively priced and 100% organic and healthy for your pets. Are meant to excite the consumer and instill confidence in our products. The strategy to target the demographics of 18-65 is perfect. Based on our marketing research, this group has buying power and the ability to influence others to buy these products. Our focus…
Proposal Automatic Dog Feeder ECE4007 Senior Design Project Section RP1, Canine Hunger Force Justin Waters, Team Leader Adam Hartley Ryan Price Randy Boucher Submitted September 17, 2007 TABLE OF CONTENTS Executive Summary........................................................................................................... 1 1. Introduction ................................................................................................................. 2 1.1 1.2 1.3 Objective ............................................................................................................. 2 Motivation...........................................................................................................…
Customers tend to return to a place where they were treated justly. New products that have financial guarantee can gain consumer loyalty for future purchases. The ability to sell only from our flagship stores and online is not a complete loss. The large advertisement budget reaps opportunity to push sales via coupons, pet store reward cards (if applicable), price matching, and instore sales for the Pawganic line will entice consumers. Developing a clientele amongst similar competitor products as well as highly advertised inexpensive products is the key…
Many adults, single or married, that are between the ages of 21 and 54 consider their pet to be a part of the family. This is why Show Circuit Dog Food's target market will consist of this age group.…
Breeder’s Own Pet Food, Inc. is currently missing out on potential revenues from retail sales because they have not entered that market. Sales of dog food will total about $14 billion in 2011 at manufactures’ prices. There is a huge market and growth opportunity that they are missing out on. They need to make the public aware of the Breeder’s Mix brand name, what the packaging looks like, and the fact that Breeder’s Mix is a high-quality dog food. As well as direct dog owners to shop for dog food in the frozen-food section of supermarkets. They will have to overcome some key challenges such as overcoming potential objections to frozen dog food, lack of appeal of frozen food, pricing, and introducing a new food to a new market for their company.…
Distribution − The one advantage to distributing Breeder’s Mix to grocery stores would be lack of competition for a frozen dog food product. The downside would be the lack of convenience and appeal to the average dog food consumer. The food takes time to prepare due to thawing time and it takes up valuable household freezer space. With the majority of dog owners preferring dry dog food price and convenience may trump superior quality ingredients. Therefore instead of distributing Breeder’s Mix to supermarkets the distribution should be adjusted to cater to pet specialty stores pet superstores such as PetSmart and Petco and veterinarian offices. The distribution could even be expanded to whole food stores who promote healthy lifestyles. The test market should also be expanded beyond Boston to other select cities in order to prepare for a national roll−out of Breeder’s Mix.…
The food industry is an area of business that many people and corporations often find success. Food plays a major part in human survival because it is one of the basic necessity needs, to survive, you must eat. In the food industry, there is a variety of food chains with different menus and different types of food. However, to be highly successful and sustain durability and consistency in the food industry, you have to have a product that is unique and that people love. A product that is exclusive in the beginning making the demand to rise. It has to be something that people find delicious and continue to buy.…
Robert Kenner explores a valid problem of the real objectives of the food industry and the reliability of the food that is sold in markets and restaurants. The market for food is much different now than how it was over fifty years ago. The ultimate goal of food industries now is to make profit. With this mentality, the lives and…
The Kellogg Company is the world's leading producer of cereals. Its products are manufactured in 18 countries and sold in more than 180 countries. For more than 100 years, Kellogg's has been a leader in health and nutrition through providing consumers with a wide variety of food products. These are designed to be part of a balanced diet and meet the different tastes of consumers. Kellogg's focuses on sustainable growth. This involves constantly looking for ways to meet consumer needs by growing the cereal business and expanding its product portfolio. Market research is a specific area of marketing that informs businesses like Kellogg's about the things consumers need, how best to design products to answer those needs and how to advertise those products to consumers. Market research goes beyond finding out what consumers are thinking today. It can identify what consumers might want in the future. In this way market research helps a business to make more informed choices. This reduces the risks for any new product development (NPD). It also increases the likelihood that products will be well received by consumers when they are launched. Kellogg's launched Crunchy Nut Cornflakes in the UK in 1980. Since then, it has become one of the most important brands for Kellogg's with a sales value of £68 million (according to IRI sales data). In 2003 the Crunchy Nut brand created a brand extension. This involved using the Crunchy Nut name to launch a new product called Crunchy Nut Clusters. This variant has two varieties, Milk Chocolate Curls and Honey and Nut. Both of them have enabled the brand to reach a wider group of consumers. This brand extension is now worth £21 million in annual value sales (according to IRI sales data). This case study focuses on the importance of market research during the development and launch of Crunchy Nut Bites, a more recent extension to the Crunchy Nut brand. The objective of this innovation was to provide a new flavour and texture for…