The Boston Beer Company Essay Example for Free

The Boston Beer Company Essay The Boston Beer Company has had amazing success in its transition from a small scale microbrewer to a large scale national brewery. Almost all of the company’s success is due to the Samuel Adams Lager product line, which has hardly changed from the founding of the company in 1984, to the IPO in 1995, to the present day. In fact, much of the appeal of Samuel Adams comes from its microbrew image and the founder, Jim Koch’s, commitment to the brewing process and a premium beer. In recent years, however, the company has implemented a new strategy for growth which has included introducing a light beer that will have more mainstream appeal. While this has increased profits for the company, it has also left the company vulnerable to entry by diluting its brand name. For this reason, the company’s strategy for the immediate future has to make a significant shift, from a strategy of growth to a strategy of protection. It must focus on maintaining its current profits by preventing entry both from small breweries looking to copy the BBC’s strategy and from large breweries looking to use their expansive resources to steal some of BBC’s market share. History of Boston Beer The Boston Beer Company began as a microbrewery in Boston, Massachusetts in 1984. Its first cases of beer were only sold to Boston bars, but the company quickly branched out geographically. Fueled by awards and recognition from prestigious beer festivals, Samuel Adams Boston Lager was available on much of the East Coast by the late 1980’s and nationally by 1992. The company went public on the New York Stock Exchange in 1995. The Boston Beer Company’s strategy for growth was one of differentiation. The company created a higher quality beer than the majority of American beers by using more expensive ingredients and less water, and it used its packaging and its commercials to advertise this commitment to uality. In fact, because of its use of only barley, hops, yeast, and water as its ingredients, Samuel Adams won the honor of being the first American beer to be sold in Germany, a distinction that helped its image in America even more. One business strategy that the company employed as it started to grow was using extra brewing space in other company’s breweries to brew their beer. Since the company was growing at a double digit rate, it didn’t have a lot of extra capital to build its own breweries, so this was a good strategy for them during their period of growth. And, since these breweries were distributed throughout the country, this strategy allowed the Boston Beer Company to maximize the freshness of the beer it sold. In fact, the now famous practice of printing a freshness label on bottled beer was started by the Boston Beer Company on its Samuel Adams Boston Lager. The company ensured quality production in these disperse breweries by hiring experienced brewmasters to oversee the contract brewing. The company also brewed some beer on its own property, both in Boston and later in a plant they purchased in Cincinnati, Ohio. In 2002, the company took a risk by introducing Sam Adams Light, a light beer version of their Samuel Adams Lager. They had never produced a light beer before, and it was Koch’s stance that the company couldn’t brew a light beer that would be up to their standards of flavor. The expanded customer base that the company would target with the sale of a light beer was too lucrative a market to ignore, however, and the light beer market was almost devoid of any Better Beers, so after three years of development Sam Adams Light was born. The advertising expenditures for 2002 increased by 25. 7% or $20. 6 million over 2001 due to the promotion of Sam Adams Light2, which magnified the financial risk of producing and selling it. The new beer had the short term effect of attracting new consumers to the Samuel Adams brand, although the long term effect has yet to be seen. The growth of the Boston Beer Company was very impressive, and can be attributed to a superior product, good business strategy, and an unsaturated market for high-quality beer. But now there are new challenges facing the company. There are always new fads in the beer industry; current trends are low-carb beers and fruityflavored malt beverages. The Boston Beer Company needs to decide which of these trends to respond to, and how to respond to each. Above all the company needs to continue its strategy of differentiation that allowed it to achieve its current profitability. It is its image for quality above major American beers like Budweiser, Coors, and Miller that allows it to keep its prices, and its profits, high. Current Industry Analysis The Boston Beer Company’s product is a â€Å"better† beer. A better beer is defined as either a craft beer or an import, and is characterized by higher prices and quality. A craft beer is defined as one which is brewed with 100% malted barley as its grain. The major American beer companies typically use a mixture of malted barley along with other grains such as rice or corn, since these are less expensive and have less full-bodied flavors. Rivals in the better beer industry include such foreign companies as Corona, Heineken, and Guinness, as well as domestic companies such as Sierra Nevada, Pete’s, and a number of microbreweries around the country. While the beer industry overall is very rivalrous, the better beer industry is not so, as evidenced by high profit margins (the Boston Beer Company routinely posts profit margins of over 50%). The rivalry that does exist tends to revolve around quality competition rather than price competition. There are numerous substitutes for better beer. All alcoholic beverages are substitutes for the Boston Beer Company’s product, although the two closest substitutes are major American beers and flavored malt beverages; wine and spirits are less relevant substitutes for the purposes of this analysis. Budweiser, Coors, and Miller are all large brand name beers which have low prices and low quality compared to better beers. Price sensitive consumers typically buy these beers. Smirnoff Ice, Skyy Blue, and Bacardi Silver are all similarly priced to the better beers, but they have fruitier flavors and therefore appeal to consumers with a different taste preference. The suppliers for the Boston Beer Company are similar to the suppliers for any brewery. Supplies that must be purchased include the ingredients like water, barley and hops, the equipment for brewing, and the transportation for distributing beer around the country. The ingredients are actually very inexpensive compared to the other two costs, and suppliers of barley and water don’t have a lot of bargaining power since these industries are fragmented. The hops industry, however, is more centralized. In order to ensure adequate hops supplies at prices known in advance the company regularly purchases hops futures. The company also employs an aggressive contract brewing strategy. Under this policy almost 60% of the company’s products are brewed at noncompany owned breweries. By utilizing the excess capacity of geographically distributed reweries, the company can keep equipment and transportation costs low while providing a fresher and thus higher quality product. This brewing approach carries inherent risks by giving potential rivals some control over the company’s production capacity. Indeed the company is currently involved in a lawsuit with Miller after Miller’s attempt to back out of a brewing contract early. To protect itself from these risks the company enters into contracts with a diverse set of brewers for a much larger amount of beer than they actually produce. This redundant capacity is meant to shield the company from any number of contract brewers defaulting on their contracts. Buyer bargaining power doesn’t have significant influence on the Boston Beer Company since their buyers are grocery stores and bars. The grocery industry and the bar industry are both fragmented, so each store or bar that buys from the Boston Beer Company comprises a very small amount of total company sales, and the loss of any one buyer won’t significantly hurt the company. Complements in the better beer industry include the popularity of bars, snack foods like pretzels and nachos, and sporting events like football games. While the Boston Beer Company doesn’t provide any of these complements, they do provide some amount of customer education. Customer education includes advertising awards the company has won, advertising their brewing processes, and calling attention to their premium ingredients. This serves to convince people of the superior quality of Samuel Adams, thereby convincing them to pay a premium price. Customer education is a fairly clever and successful strategy for a number of beer companies, but it benefits better beers more than lower quality beers, so the Boston Beer Company could probably take advantage of this by focusing more on customer education. The BBC also has an advantage over small high-quality breweries because its economy of scale allows more customers to be reached per dollar spent on customer education. Any company in the beverage industry has the potential to enter Samuel Adams’ market, and it is always crucial for a company to be aware of possible entry from all sides. Companies that make wine, spirits, or malt beverages could all enter the market, and we have actually seen in recent years that spirits companies have been expanding into new markets by producing malt beverages under the name of the parent spirits company. However, the most dangerous potential entrants would be other beer companies. Other craft breweries that sell their beer on a small scale might attempt to copy the BBC’s strategy to grow into a national brand and steal some of BBC’s market share. Also, major American breweries could use their expansive resources to brew high quality beers that could compete with Samuel Adams on a national level. A third, and even more threatening possibility, would be the combination of these two forces; a major brewery could buy a high quality microbrewery and use their national advertising and distribution infrastructure to market the microbrew to the public on a large scale. Given the Boston Beer Company’s high profit margins and the relatively low level of rivalry within their market, it is very likely that entry will occur and erode away at BBC’s profits if BBC is unprepared. We believe that responding to this possibility should be at the forefront of the company’s business strategy for the immediate future. The Boston Beer Company’s Strategy: Using Reputation as an Entry Barrier The BBC’s initial strategy was one of growth. This was fitting for it when it was a microbrewery looking to gain national and international sales. During its expansion in the early 1990’s, the company took advantage of the fact that consumer demand for craft beers was increasing, while there were few other companies doing the same. Since the new market was unsaturated, the Boston Beer Company was able to earn an inexpensive reputation for its Samuel Adams brand name by being the first large scale mover into the national craft beer market. By the late 1990’s, the BBC’s growth rate had begun to decline. In an effort to keep up growth, the company switched to a strategy of trying to increase the demand for craft beer. It did this through large scale advertising, and most significantly through the introduction of a light beer that brought light beer drinkers over to the better beer market. The Boston Beer Company’s strategy was an effective one for many years, and enabled it to become the profitable national company that it is today. However, if the BBC wants to maintain its profitability, it will need to find a way to protect its market share from entrants, and this will require a shift in the company’s strategy back to increasing its share of the Better Beer market rather than of the mainstream market. The biggest threats to the BBC are the major American beer companies, which have massive resources that would allow them to compete with the BBC. The BBC’s two advantages over these major companies are experience and reputation, and the major companies could easily gain experience by buying an existing craft beer company and utilizing its brewing procedures. Therefore, the BBC must protect its reputation at all costs, since its reputation is the only formidable entry barrier preventing Budweiser, Coors, and Miller from successfully invading Samuel Adams’ market. The company’s best strategy would be to slow their growth in order to work on strengthening their Samuel Adams Boston Lager brand name. Additionally, if the BBC diminishes its focus on growth, it could very well have the effect of reducing the incentive for these three major companies to enter the craft beer market, since the BBC will not be seen as so significant a threat. While there is a risk that slowing growth will leave the company vulnerable to entry by smaller companies, it is the large companies that have the most resources to compete with the BBC, so reducing the incentive for large companies to enter is worth the possible risk that more small companies will enter. The uniqueness and integrity that allowed the Samuel Adams brand to gain popularity are starting to be overshadowed by the company’s attempts to gather more mainstream consumers, and this is hurting the company’s brand name. The strategy for the future needs to focus on building back customer loyalty for the company’s core product line, i. e. Samuel Adams Boston Lager. First and foremost, the Boston Beer Company needs to continue reducing its expenditures on Sam Adams Light. During the introduction of Sam Adams Light in 2001-02, revenues and gross profit increased, but expenditures on advertising Sam Light were extremely high, and much of the sales of Sam Light were thought to be due to cannibalism of Samuel Adams Boston Lager. In 2003 when advertising of Sam Adams Light was decreased, sales of the light beer dropped significantly. Although Samuel Adams Boston Lager sales increased during the period between the fourth quarters of 2002 and 2003, overall shipments dropped 6% during this period3 because of the lowered demand for Sam Light after the decline of the Sam Light marketing campaign. However, even though sales were lower, net income was higher after the end of the marketing campaign4. The company should therefore continue to keep its advertising levels for Sam Adams Light low. In addition to the high financial cost of advertising Sam Adams Light, it is likely that the large-scale marketing of Sam Adams Light could hurt the company in the long run by diluting the Samuel Adams brand name. The purpose of Sam Light is to appeal to mainstream beer drinkers, but the company’s consumer base is comprised of individuals who pride themselves on drinking a beer that is not mainstream. With potential entrants looming from above and below, the Boston Beer Company can not afford to lose its reputation for uniqueness. Still, Sam Light is a good revenue stream as a supplement to Samuel Adams Boston Lager, but it should cease to be the company’s main focus. The â€Å"Twisted Tea† and â€Å"Hard Core† products are malt beverages that the company produces on a small scale. These brands are unnecessary for the company’s success, and if the company adopts a strategy to focus on Samuel Adams Boston Lager then it would be advantageous to eliminate these products. While the products dilute the company’s brand name in a similar way to Sam Adams Light, they don’t provide nearly the revenue that Sam Light does. By either selling or closing down these brand names, the Boston Beer Company can distance itself further from the malt beverage industry and improve its positioning as a Better Beer company. Dumping these products would help the BBC’s image of integrity in the eyes of their consumers, and this image will be crucial if the company is to protect its market share from entrants. There have been a number of attempted entries into the Sam Adams market which demonstrate the need for quality and reputation. Coors owns Killian’s Irish Red and Anheuser-Busch owns Michelob and has a stake in Red Hook, all brands that have had poor success in the Better Beer Market. Most consumers are well aware of the fact that Michelob is just another domestic beer sold at a high price, and so it’s a brand without much of a quality image. On the other hand, it’s not well known that Coors owns Killian’s since it’s brewed in Canada and has an import label. While this abel might signal some quality in many consumers’ eyes, Killian’s has no reputation and no customer base. Finally, Red Hook was a quality microbrew ale with a good reputation and customer base that was bought by AB. Since this purchase in 1994 the stock price of Red Hook has plummeted from ~30 to 2 and sales have been poor. While the reason for this is not exactly clear, it’s possible that this failure is due to a loss of integrity that occurred when the microbrew became owned by a major domestic brewer, or that AB simply wasn’t able to operate that type of brewery. AB’s failure in this attempt doesn’t indicate that they will give up on entering the craft beer industry, however, especially if craft beers grow to be more of the national market. With such high profit margins and a strong market position, the BBC might be tempted to increase sales by decreasing prices, but this strategy should definitely be avoided. The high prices for Samuel Adams Boston Lager and Sam Adams Light signal to consumers and other companies that these beers are of higher quality, and since demand in the Better Beer market is relatively inelastic, there would likely be no increase in net income if prices were reduced. Reducing prices would cause the BBC to appear more of a threat to the three major American beer companies, and could therefore expedite the entry of one of these companies into the market. Due to the nature of the Better Beer industry, the company needs to strive for quality competition over price competition. With the introduction of Sam Light in 2002 the percentage of BBC’s sales comprised of bottles vs. kegs increased since most Sam Light is sold in bottles, and since Boston Lager sales declined slightly. While revenues are lower per barrel of draft beer, profit margins are higher due to lower costs per barrel. Additionally, beer served on tap is usually able to retain a higher quality than beer served from a bottle. For these reasons and others, it would be a good strategy for the Boston Beer Company to increase its emphasis on selling its beer in kegs to bars. While most grocery stores already carry Samuel Adams Boston Lager, there are still a large number of bars that don’t have Boston Lager on draft, and this deprives many consumers of being able to drink the beer in its highest quality form while also depriving the company of the added revenue that bar sales bring in. Since the company’s new focus needs to be on emphasizing the quality of its beers, increasing the availability of its draft beer is in line with its strategy. An added benefit of increasing prevalence in bars is the opportunity for bartender education and consequent consumer education. The company should seriously consider providing literature about their beer along with the kegs that they sell to bars, since educating bar owners and bartenders about the premium ingredients and freshness standards that the company holds will have a trickle-down effect to the beer drinkers.

Comparison of Two Versions of Cinderella: Grimm vs. Perrault Essay

A lot of the fairy tale stories that we have seen as young adults and even as adults are original folk tale stories that have been modified and rewritten to accommodate our new cultures. Cinderella happens to be one of these stories that have been changed over the years. There are many different versions of Cinderella, an African Cinderella, a Hungarian Cinderella and even a Chinese version. All of the Cinderella’s are similar in plot, but the author dictates the story’s theme based on the people whom he is writing for which completely changes the story’s tone, mood and other elements. While Perrault's version stresses the values and materialistic worries of his middle-class audience, Grimm’s' focus is on the harsh realities of life associated with the peasant culture. Perrault’s and Grimm’s Cinderella’s have the same plot, but their writing style is different which completely modifies the tale. The main things that changes the way a story is written is the audience, the author must be careful not say anything to offend the people he is writing for. Charles Perrault is a French man who used to write for the nobility and the middle class, so it is expected of him to write with a lighter tone to satisfy his dignified audience. He describes the pampered lifestyle of the two step sisters who put on their â€Å"gold-flowered cloak[s]† and their â€Å"diamond stomacher[s], which are far from being ordinary† (Perrault). He emphasizes the materialistic things that the step sisters posses and describes their wonderful, carefree world. The only concern of the step sisters is the prince’s ball, the girls were â€Å"wonderfully busy in selecting the gowns, petticoats, and hair dressing† (Perrault) that was the only thing they worried about throughout th... ...errault’s â€Å"Cinderella† and Wilhelm and Jacob Grimm’s â€Å"Ashputtle† both feature a young heroine who despite overwhelming obstacles manages to change the course of her life, and live happily ever after with her prince. Both of the stories have a similar plot, characters, and events, but it’s the moral lesson that modifies the two stories and makes them different. The audience also impacts the story and the way it is presented. There are many things that authors consider before writing their story, and all their concerns reflect on the story. Charles Perrault’s concern was his audience, and he made sure that it didn’t offend the upper class. The Grimm brothers were not concerned about the upper class because they wrote their tales for ordinary people and they had no worries of people getting upset. All their feelings about values and morals are expressed in â€Å"Ashputtle.†

Cari’s Story Essay

How could an infection in Cari’s nasal passages and pharynx spread into her sinuses? An infection will spread because the pharynx, larynx and sinuses are all connected, so the infection is going to spread to the sinuses and the surrounding areas. What is the cough reflex? Describe the process that Cari’s respiratory system is using to clear her lungs by coughing? The cough reflex is a deep and long inhalation that is followed by the closing the glottis, this causes a strong exhalation that will push the glottis open and sends the air through the respiratory passage. The coughing occurs when a foreign body is in the larynx, trachea or the epiglottis. Cari is coughing because the mucous and fluid buildup in her lungs and her body is to get rid of it. Which structures found in the terminal bronchioles and alveoli normally would protect Cari’s lungs from infectious pathogens and particulate matter? The alveolar macrophage protects her lungs because they wonder around the alveoli space and it collects dust, particles and debris. Cari does smoke and it has caused the cilia in her respiratory passage way to become paralyzed and then it secretes the excess amounts of mucus. The macrophages are sent to the lungs and it gets stuck in the mucus and it can’t fight off the pathogens. How would the resistance of Cari’s airways be affected by excess mucus and fluid in her lung? Cari isn’t getting adequate oxygen because the pressure of fluid and the mucus buildup in her lungs. This is not allowing her lungs to expand so she can get the breath her body needs. The fluid buildup and the pressure are not allowing her oxygen to disperse to the areas it needs. How would Cari’s lung compliance (the effort required to expand the lungs) be altered as her alveoli fill with fluid due to pneumonia? The fluid in her lungs makes it hard to expand because the fluid makes the alveoli sticky and it can’t expand and open. How would fluid in Cari’s lungs affect her total lung capacity? Cari’s lung capacity would go down due to the fact that the air space is being taken up by the fluid in her lungs. How does the elevation of Cari’s respiratory rate alter her minute ventilation? Cari’s respiratory rate will increase her minute ven tilation. Normal blood oxygen saturation levels are greater than 94 percent; Cari’s blood oxygen saturation levels are greater 90 percent at the time of her exam and an initial arterial blood gas analysis done when  she was admitted to the hospital revealed her arterial Po2 was 54mmHg. How do these clinical findings relate to the internal respiration in Cari’s body? Cari’s oxygen saturation level was 90% and the Po2 of mmHg would show that her arteries are having too much oxygen. A normal resting mmHg is 40% and exercises lower Po2level. A normal resting oxygen level is 94%. Which of the symptoms Cari has described are due to the lack of oxygen and reduced oxygen exchange at her tissues? Cari said she is â€Å"panting like a dog† is due from the lack of oxygen and t reduces her oxygen exchange. As Cari’s Pco2 rose, how was the oxygen-carrying capacity of hemoglobin affected? The oxygen carrying of hemoglobin volume with the rise of Pco2 will decrease since the Co2 will take O2’s seat. How would you have expected Cari’s decreased Pco2 and alkaline blood pH to have affected her breathing? Cari’s pH and Pco2 will decrease and her rate of breathing will also be decreasing. How would administration of oxygen enhance Cari’s central drive to breathe? Cari would be able to breathe better when oxygen was administered to her. Which anatomical structures in Cari’s respiratory system were initially involved? The structures involved are the trachea, nasal, pharynx, and larynx, and the lungs. Why was Cari plagued with a chronic smoker’s cough? Cari is plagued with a chronic smoker’s cough because she has a 20 year history of smoking. Which damaging effects of tobacco smoke led to Cari’s impaired respiratory defense mechanisms? There are damages to the epithelial with those damages comes the body’s repair process. How did the pneumonia affect Cari’s lung function? Cari’s was having problems getting adequate oxygen, because of the fluid in her lungs. The pneumonia is an infection from bacteria that can affect the body, because of her smoking it made it hard for her lungs to get air.

Effective Communication Is Appropriate For An Organization

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