Description
Case Study #3 – Justin’s
Justin’s case is one where an entrepreneur and built a successful product and brand and has sold it to a much bigger company, Hormel. It is seemingly a good business and one that has a bright future.
Background
Justin Gold started his business here locally in Boulder, Colorado. The idea of his company came from his personal experience as an active outdoor enthusiast seeking higher quality and better tasting organic food.
He started in his own kitchen, making a variety of nut butter products and was able to package and commercialize the product line to great success.
Watch the below video and research his business yourself to gain a deeper understanding of the path Justin’s has followed.
https://www.viddler.com/embed/f372dde9
Assignment
Write a 2–3-page response that addresses the below questions. State the question and then provide your response. Write in complete sentences (no outlines).
What point of differentiation did Justin first market and why did he do it? (3 points)
Describe Hormel’s multi-brand strategy and give examples of Hormel brands that support the strategy? (3 points)
What is meant in the video (that relates to the chapter reading about brand management) about multi-product strategy? Give an example of Justin’s and another Hormel brand. (3 points)
What responsibilities does the brand managers have at Justin’s vs. the master brand managers? (3 points)
What is meant in the video that Justin’s is a complementary brand to Skippy? (3 points)
Why did Justin partner with Hormel? Be specific with at least 3 benefits. (5 points)
The road ahead. (5 points)
What are some of the challenges that Justin’s is likely to encounter in the next phase of their company, both internally and externally?
What are the benefits that Justin’s gets in combining with a larger organization and what are the risks both short and long-term?
