case study of krispy kreme

Krispy Kreme Marketing Strategy 2024: A Case Study

Welcome to our comprehensive case study analysis of Krispy Kreme’s marketing strategy in 2024. In this article, we will delve into key elements such as brand awareness, customer loyalty, product innovation, experiential marketing, social media campaigns, influencer collaborations, market expansion, and targeted promotions. Based on factual data from various sources, we will highlight Krispy Kreme’s strategic approach to elevate its brand and effectively engage customers.

Krispy Kreme, established in 1937 by Vernon Rudolph, opened its first store in Winston-Salem, North Carolina. The original Krispy Kreme store on 534 South Main Street, Winston-Salem, became a significant historic landmark. By 1976, Krispy Kreme Doughnut Corporation became a wholly owned subsidiary of Beatrice Foods. The company went public on NASDAQ in 2000, experiencing both triumph and tribulations post their IPO.

In May 2021, Krispy Kreme returned to public ownership with an IPO, reaffirming its position as a renowned brand in the market. However, the journey has not been without controversies. In February 2015, a Krispy Kreme branch in Kingston upon Hull, England, caused controversy with an unfortunate social media post. The company swiftly addressed the issue, emphasizing the importance of cultural sensitivity in marketing activities and social media management.

Despite setbacks, Krispy Kreme operates in global markets such as the United Kingdom, Australia, South Africa, India, and Japan. The company continuously introduces new product lines to cater to evolving consumer preferences. These include whole wheat glazed doughnuts, tailored seasonal collections, and vegan offerings, demonstrating their commitment to innovation and meeting customer demands.

With a strategic marketing approach, Krispy Kreme aims to expand its market reach and increase brand awareness. Strategic initiatives such as partnerships, fundraising activities, and innovative campaigns contribute to enhancing brand visibility and engaging with local communities. Krispy Kreme also upholds its commitment to social responsibility, fostering brand affinity and resonance among diverse consumer segments.

The case study analysis of Krispy Kreme’s marketing strategy offers insights into the company’s journey, resilience, and adaptability. We will explore their continued commitment to excellence, global expansion, and future innovations. By embracing change, Krispy Kreme thrives as a leader in the industry.

Key Takeaways:

• Krispy Kreme’s marketing strategy focuses on brand awareness, customer loyalty, and product innovation.
• The company utilizes experiential marketing, social media campaigns, and influencer collaborations to engage customers.
• Market expansion and targeted promotions contribute to Krispy Kreme’s success.
• Strategic initiatives include partnerships, fundraising, and community engagement.
• Krispy Kreme’s journey exemplifies resilience, adaptability, and a commitment to excellence.

Founding and Early Development of Krispy Kreme

Krispy Kreme, a beloved brand known for its mouthwatering doughnuts, was founded in 1937 by Vernon Rudolph in Winston-Salem, North Carolina. Rudolph’s passion for doughnuts led him to acquire a yeast-raised doughnut recipe from a New Orleans chef, laying the foundation for Krispy Kreme’s signature treat.

Driven by their commitment to delivering fresh and delicious doughnuts, Krispy Kreme quickly gained popularity. Rudolph’s vision of selling hot doughnuts to customers in the early morning hours became a reality, resulting in a loyal customer base. This early success allowed the company to expand its reach beyond the southeastern United States, venturing into new markets and captivating doughnut lovers everywhere.

As Krispy Kreme continued to grow, its dedication to quality remained unwavering. The brand’s commitment to using fresh eggs, real butter, and pure vanilla extract ensured that every bite of their doughnuts was a delight. The menu featured a delectable variety of treats, including the iconic Original Glazed, indulgent Chocolate Iced, irresistible Cinnamon Sugar, and the flavorful Lemon Blueberry Cake Donut.

This commitment to excellence and the consistent taste of Krispy Kreme doughnuts propelled the brand forward, leading to further expansion and an ever-growing fan base that spans generations. Today, Krispy Kreme operates over 1,400 locations across 37 countries, captivating doughnut enthusiasts worldwide.

To cater to evolving consumer preferences, Krispy Kreme introduced new product lines to its menu. From whole wheat glazed doughnuts to seasonal collections and vegan offerings, the brand ensured there was something for everyone. This commitment to diversity and inclusivity not only delighted existing fans but also attracted new customers seeking doughnuts that aligned with their dietary choices.

Throughout its early development, Krispy Kreme also emphasized the importance of engaging with consumers and local communities. The brand conducted impactful marketing campaigns like the Share the Love initiative, creating opportunities for customers to connect with one another and give back to their communities.

Krispy Kreme’s Expansion and International Success

Over the years, Krispy Kreme’s commitment to excellence and innovative marketing strategies propelled its expansion beyond national borders. The brand successfully entered global markets, with a presence in countries such as the United Kingdom, Australia, South Africa, India, and Japan. This international expansion brought the joy of Krispy Kreme doughnuts to people around the world, creating a loyal following that appreciates the brand’s quality and indulgent treats.

Furthermore, Krispy Kreme’s success can be attributed to its focus on strategic marketing initiatives. The brand engaged in partnerships and collaborations with renowned brands like McDonald’s and M&M’S, leveraging their influence and reach to introduce Krispy Kreme to new audiences. Additionally, the company’s fundraising initiatives have helped community groups raise $40 million globally, showcasing their commitment to making a positive impact beyond the doughnut counter.

In conclusion, Krispy Kreme’s founding and early development under Vernon Rudolph laid the groundwork for a brand that continues to delight doughnut enthusiasts worldwide. With a focus on quality, innovation, and community engagement, Krispy Kreme has grown from its humble beginnings into a global phenomenon, capturing hearts and taste buds with their irresistible doughnuts.

Period of Growth and Development

Krispy Kreme experienced significant growth during the 1950s and 1960s, expanding its presence throughout the Southeast region. With a focus on delivering delicious and fresh doughnuts, the company quickly captivated the taste buds of customers, establishing a loyal following.

An important milestone in Krispy Kreme’s journey occurred in 1976 when the company became a wholly owned subsidiary of Beatrice Foods. This marked a transformative phase, providing Krispy Kreme with the resources and support needed to further fuel its expansion and development.

Throughout its history, Krispy Kreme has demonstrated its ability to be resilient and adaptive in the face of challenges. The company’s commitment to innovation and meeting changing consumer demands has played a pivotal role in shaping its growth and success.

From its humble beginnings as a small doughnut shop to a global brand, Krispy Kreme’s growth and development have been remarkable. Today, the company operates not only in the United States but also in various countries around the world, including the United Kingdom, Australia, South Africa, India, and Japan, among others.

In addition to expanding its geographic reach, Krispy Kreme has diversified its product offerings to cater to different consumer preferences. By introducing new lines such as whole wheat glazed doughnuts, seasonal collections, and vegan options, the company ensures that there is something for everyone to enjoy.

Krispy Kreme’s commitment to strategic marketing initiatives has further propelled its growth. The company has successfully launched campaigns like the Share the Love campaign and engaged in fundraising activities to enhance brand visibility and foster community engagement.

Financial Highlights (2022)

These impressive financial figures reflect Krispy Kreme’s continued growth trajectory and business success. The company’s resilient and adaptive approach, combined with strategic marketing initiatives and diverse product offerings, have positioned Krispy Kreme as a leader in the industry.

Looking ahead, Krispy Kreme is set to continue its growth and development. Projections for 2026 indicate estimated net revenue of approximately USD 2.15 billion, adjusted Ebitda of around USD 315 million, and adjusted diluted EPS of about USD 0.53. The company also aims to increase global points of access to approximately 18,500, with capital expenditures projected to be about 6% of revenue. Targeted net leverage for 2026 is set within the range of 2.0 to 2.5x, highlighting the company’s commitment to maintaining financial stability and responsible growth.

IPO and the Turbulent Years

In the year 2000, Krispy Kreme Doughnuts Inc. embarked on an Initial Public Offering (IPO) on NASDAQ, marking a significant milestone in the company’s history. The IPO was met with initial success as Krispy Kreme experienced a surge in sales and profit increases, positioning the brand for continued growth and expansion.

However, the early 2000s brought about a series of challenges for Krispy Kreme. The rise of low-carbohydrate diet trends presented a shift in consumer preferences, leading to a decline in sales for the company. Additionally, financial upheavals and the bursting of the dot-com bubble impacted the overall market sentiment, causing turbulence in stock prices and investor confidence.

Amid the changing landscape, Krispy Kreme faced scrutiny from the Securities and Exchange Commission (SEC) regarding their financial reporting practices. An investigation was launched, further adding to the company’s challenges during this period.

Despite these obstacles, Krispy Kreme remained resilient, adapting to the evolving market dynamics. The company implemented strategic initiatives to address the low-carbohydrate diet trends, introducing new menu options and marketing campaigns to cater to a more health-conscious consumer base.

In an effort to restore investor confidence, Krispy Kreme implemented financial reforms and settled its SEC investigation, paving the way for a path to recovery. The company’s leadership demonstrated a commitment to transparency and accountability, taking appropriate steps to strengthen their financial reporting and internal controls.

The turbulent years following the IPO served as a valuable learning experience for Krispy Kreme. The company navigated through the challenges, emerging with a stronger understanding of market trends and consumer demands. This period of introspection allowed Krispy Kreme to refine its business strategies and position itself for future growth and success.

Return to Private Ownership and Strategic Initiatives

After a challenging period, Krispy Kreme made the strategic decision to return to private ownership, reaffirming its confidence in the brand, products, and growth potential. This move allowed the company to focus on implementing strategic initiatives to position itself for extensive expansion and international investment.

An important aspect of Krispy Kreme’s growth strategy is its commitment to maintaining a franchise-to-company-owned ratio of 67% as it expands into new markets abroad. This balance between franchise-owned and company-owned stores ensures consistency in operations while leveraging local expertise and resources.

Another key factor contributing to Krispy Kreme’s overall sales is the significant portion of annual sales that comes from off-site locations selling their products. These off-site retailers contribute 32% to the company’s sales, highlighting the importance of diversifying sales channels and strengthening partnerships with various retail establishments.

The company’s stock performance has also played a crucial role in its growth trajectory. The stock price rose from $21 to a peak of $49.37 in 2003, reflecting investor confidence in Krispy Kreme’s strategic direction and growth potential.

In response to challenges related to overexpansion and changing consumer preferences, Krispy Kreme has strategically shifted its expansion focus towards overseas locations. This strategic move involved closing many domestic stores in recent years, allowing the company to allocate resources and efforts towards international markets with significant growth potential.

Furthermore, Krispy Kreme has adapted its product offerings to meet evolving consumer demands. With bans on trans fats in various U.S. cities and increased consumer health concerns, the company has responded by developing new recipes without trans fats, aligning its product offerings with current health trends.

While Krispy Kreme is known for its quality brand, there is room for improvement in the representation of products sold off-site. To enhance brand perception and increase store revisits, the company has been recommended to adopt targeted advertising strategies. This includes initiatives such as billboard ads in high-traffic areas and seasonal promotions to increase customer engagement and drive traffic to physical store locations.

With a rich history dating back to its founding as a small family-owned chain of doughnut shops in North Carolina in 1937, Krispy Kreme has consistently demonstrated resilience and adaptability. Through strategic initiatives, return to private ownership, and focus on growth potential, Krispy Kreme is poised to continue its success story in the competitive market.

This statistical data showcases Krispy Kreme’s return to private ownership and its strategic initiatives to drive growth and expansion. The company’s commitment to maintaining a balanced franchise-to-company-owned ratio, leveraging off-site sales channels, and adapting to changing consumer preferences reflects its dedication to maintaining a strong market position . With the groundwork laid for future initiatives, Krispy Kreme is well-positioned to capitalize on its growth potential and continue its success as a global brand.

Addressing Controversies

Krispy Kreme, a renowned brand established in 1937 by Vernon Rudolph, has faced its fair share of controversies throughout its journey to becoming a global icon. One notable incident occurred in February 2015 when a Krispy Kreme branch in Kingston upon Hull, England, unintentionally promoted an event with the unfortunate name “KKK Wednesday” on social media.

The company swiftly responded to the controversy by issuing an apology, canceling the event, and conducting an internal investigation to avoid any future mishaps. This incident shed light on the importance of cultural sensitivity and emphasized the need for vigilance in marketing and promotional activities, particularly in the era of social media.

Krispy Kreme, known for its resilience and adaptability, learned valuable lessons from this controversy and took proactive steps to ensure such incidents did not recur. The company remains committed to upholding cultural sensitivity in its marketing activities and social media engagement.

Commitment to Cultural Sensitivity

In its efforts to prioritize cultural sensitivity, Krispy Kreme has implemented robust measures to assess and approve all marketing content and initiatives. The company recognizes the impact its messages can have on diverse communities and strives to promote inclusivity in all its interactions.

Moreover, Krispy Kreme, operating in international markets such as the United Kingdom, Australia, South Africa, India, and Japan, acknowledges the importance of respecting local customs and traditions. By adapting its marketing strategies to cater to individual cultural preferences, the brand ensures a positive and respectful representation across different regions.

The Power of Social Media

Krispy Kreme understands the significance of social media in its marketing efforts and maintains a vigilant approach to managing its presence on these platforms. The company has recognized the potential for misinterpretation or unintended consequences, recognizing the need for careful monitoring and oversight of social media content.

Reinforcing its commitment to cultural sensitivity, Krispy Kreme invests in comprehensive social media training programs for its employees, ensuring they understand the importance of responsible social media engagement. By fostering awareness and providing guidelines for appropriate content creation and communication, the company aims to prevent any inadvertent promotion of offensive or insensitive material.

Krispy Kreme’s dedication to addressing controversies exemplifies its commitment to excellence and continuous improvement. By recognizing the impact of its actions, the company reinforces the need for vigilance and cultural sensitivity in all marketing activities.

Global Expansion and Culinary Innovations

Krispy Kreme, a beloved doughnut brand established in 1937 by Vernon Rudolph, has successfully expanded its reach beyond domestic growth to achieve global success. With its delectable offerings and strategic market adaptations, Krispy Kreme has established a palpable worldwide footprint, catering to diverse consumer choices and market preferences.

Operating in various countries, including the United Kingdom, Australia, South Africa, India, and Japan, Krispy Kreme has honed its ability to tailor its products to meet the unique tastes and preferences of each market. This commitment to understanding and accommodating local flavors has been a key driver behind the brand’s global expansion.

Culinary Innovations

Krispy Kreme has embraced culinary innovations to keep its offerings fresh and appealing to a wide audience. The brand introduced product lines such as whole wheat glazed doughnuts, seasonal collections, and even vegan offerings to cater to the evolving tastes and preferences of consumers worldwide. These culinary innovations showcase Krispy Kreme’s commitment to staying ahead of the curve and satisfying a variety of dietary choices.

Market Preferences and Consumer Choices

Krispy Kreme’s success in global markets can be attributed to its keen understanding of market preferences and consumer choices. By conducting thorough market research and adapting its menu, flavors, and promotions accordingly, Krispy Kreme has been able to capture the hearts and taste buds of customers in different regions. Whether it’s incorporating local ingredients, cultural flavors, or seasonal variations, Krispy Kreme ensures that its offerings align with the preferences of its target audience , allowing for a delightful and personalized experience.

Through its global expansion and culinary innovations, Krispy Kreme has solidified its position as a leader in the doughnut industry. By staying attuned to market preferences and offering a diverse range of consumer choices, Krispy Kreme continues to captivate doughnut lovers around the world.

Strategic Marketing

Krispy Kreme understands the importance of strategic marketing to drive brand visibility and engage with local communities. The company’s initiatives include leveraging partnerships, fundraising efforts, and innovative campaigns that showcase its commitment to social responsibility.

Krispy Kreme’s Partnerships

Krispy Kreme collaborates with well-known brands like McDonald’s and M&M’S to introduce exciting new doughnut creations. These partnerships not only expand the brand’s reach but also bring together iconic names to create unique and enticing offerings. An example of successful collaboration is Krispy Kreme’s partnership with McDonald’s, which has seen rapid expansion from only nine locations to an impressive 160 in a short period.

Fundraising and Social Responsibility

Krispy Kreme engages with local communities through various fundraising initiatives and events. The company’s global fundraising efforts have helped raise an impressive $40 million, showcasing a strong commitment to making a positive impact. By supporting local causes and organizations, Krispy Kreme not only demonstrates social responsibility but also strengthens its bond with customers.

Innovative Campaigns and Social Media Strategy

Krispy Kreme’s social media strategy plays a crucial role in brand visibility and customer engagement. The company leverages user-generated content, Twitter engagement, and creative Pinterest campaigns to connect and interact with its loyal fan base. The brand’s innovative campaigns, such as “Krispy Lessons” on Instagram, and active engagement with fans on Twitter, further enhance its presence and foster a sense of community among doughnut lovers.

Employee Engagement and Training

Krispy Kreme recognizes that exceptional service quality begins with engaged and well-trained employees. The company invests in comprehensive training programs to ensure that its employees consistently deliver a delightful experience to customers. By focusing on employee engagement and satisfaction, Krispy Kreme not only improves service quality but also reduces turnover, strengthening its position as a leading brand in the industry.

Continued Commitment to Excellence

Krispy Kreme has consistently demonstrated a commitment to excellence throughout its journey. From its founding in 1937 by Vernon Rudolph to its global expansion, the company’s success is a testament to its resilience, adaptability, and unwavering dedication to delivering exceptional products.

In the face of challenges, Krispy Kreme thrives, consistently evolving and staying ahead of market trends. The company’s ability to navigate turbulent times and embrace change has contributed to its enduring success.

One of Krispy Kreme’s key strengths is its continued expansion. Operating in diverse markets such as the United Kingdom, Australia, South Africa, India, and Japan, Krispy Kreme has established a strong international presence. This global growth showcases the brand’s ability to adapt to different cultures and cater to varied consumer preferences.

Product innovation is another area where Krispy Kreme excels. The company introduced new product lines, including whole wheat glazed doughnuts, seasonal collections, and vegan offerings. By continuously reinventing its offerings, Krispy Kreme keeps customers interested and engaged.

Krispy Kreme’s commitment to excellence is also reflected in its marketing strategies. The company strategically partners with major brands like McDonald’s and M&M’S to reach new audiences and create excitement. Additionally, Krispy Kreme’s digital marketing and social media efforts have contributed to its robust online presence. Engaging campaigns and user-generated content have helped foster a strong connection with customers.

Furthermore, Krispy Kreme’s dedication to product excellence extends to its distribution network. The company utilizes a diverse range of distribution channels, including supermarkets, convenience stores, and online delivery systems. By making its products accessible to a wide range of customers, Krispy Kreme ensures that its doughnuts reach as many people as possible.

In summary, Krispy Kreme’s continued commitment to excellence, resilience, adaptability, and success sets it apart in the industry. The brand’s expansion, product innovation, and emphasis on delivering high-quality doughnuts have helped it become a beloved global icon. Krispy Kreme’s journey exemplifies the importance of staying true to core values while continuously evolving to meet the needs and expectations of customers.

Future Innovations and Outlook

Krispy Kreme is continuously looking ahead, exploring future innovations to stay at the forefront of the industry. The company recognizes the potential of machine learning in optimizing marketing communications and delivering personalized experiences to customers. By harnessing the power of data and advanced algorithms, Krispy Kreme aims to provide targeted reward recommendations tailored to each individual’s preferences and behaviors.

With a strategic focus on one-to-one marketing, Krispy Kreme seeks to deepen customer engagement and loyalty. By leveraging customer data and insights, the company can create personalized interactions, ensuring that every touchpoint is meaningful and relevant. This approach not only enhances the overall customer experience but also strengthens the bond between Krispy Kreme and its valued patrons.

Expanding its brand beyond traditional physical locations, Krispy Kreme is evolving into an omnichannel concept. This means that customers can enjoy their favorite doughnuts not only from the iconic Krispy Kreme stores but also from various outlets, improving accessibility and convenience. The company’s commitment to embracing new channels and technologies demonstrates its determination to meet the evolving needs and expectations of today’s consumers.

In a world where technology is constantly advancing, Krispy Kreme understands the importance of staying agile. By embracing digital solutions and exploring innovative ways to connect with customers, the company aims to provide a seamless digital journey. From the website to the app, Krispy Kreme ensures that customers can easily navigate and find exactly what they want, enabling a swift and efficient selection process.

Furthermore, Krispy Kreme recognizes the value of digital pre-ordering, especially during major holidays and events. By allowing digital customers to pre-order their favorite doughnuts, the company ensures availability and reduces wait times, providing a smooth and convenient experience. This customer-centric approach caters to the needs of loyal Krispy Kreme enthusiasts who prioritize planning and convenience.

Through continuous testing and optimization, Krispy Kreme’s executives strive to align the digital journey with customers’ perspectives. This commitment to speed and efficiency ensures that the online experience reflects the brand’s core values and delivers on customer expectations. By leveraging data-inspired insights, Krispy Kreme continuously enhances the functionality of its digital platforms, allowing for seamless pre-ordering and delivery options.

Krispy Kreme’s marketing strategy has been the driving force behind its remarkable success, elevating brand awareness, and engaging customers effectively. From its humble beginnings in Winston-Salem, North Carolina, in 1937, the company has expanded its market reach globally, operating in numerous countries around the world.

Krispy Kreme’s robust international presence is a testament to its ability to adapt its marketing approaches to cater to local tastes and preferences. The brand has effectively utilized social media platforms to engage with customers worldwide, leveraging user-generated content to build brand loyalty and increase customer engagement.

The company’s marketing strategy involves strategic collaborations with brands, competitive pricing, and a strong distribution network. Krispy Kreme’s focus on consistency and innovation in its product offerings has resonated with customers, ensuring a memorable and delightful experience.

With consistent growth and impressive financial performance, including significant revenue growth in North America and remarkable e-commerce growth, Krispy Kreme’s marketing strategy continues to pave the way for its ongoing success. By staying agile, embracing customer-centric initiatives, and leveraging its global points of access, Krispy Kreme remains a leader in the competitive market, delighting doughnut enthusiasts worldwide.

What is Krispy Kreme’s founding story?

How did krispy kreme experience growth and development, what challenges did krispy kreme face during its turbulent years, how did krispy kreme address controversies, how did krispy kreme expand globally, what were krispy kreme’s strategic marketing initiatives, what is krispy kreme’s commitment to excellence, what are krispy kreme’s future innovations and outlook, how has krispy kreme’s marketing strategy elevated brand awareness and customer engagement, related posts:.

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Nina Sheridan is a seasoned author at Latterly.org, a blog renowned for its insightful exploration of the increasingly interconnected worlds of business, technology, and lifestyle. With a keen eye for the dynamic interplay between these sectors, Nina brings a wealth of knowledge and experience to her writing. Her expertise lies in dissecting complex topics and presenting them in an accessible, engaging manner that resonates with a diverse audience.

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Krispy Kreme Fell Apart, Then Came Back Strong. Here's How. At one point, ice cream and soap was sold at the Krispy Kreme locations.

By Jon Marcus Sep 14, 2017

This story appears in the September 2017 issue of Entrepreneur . Subscribe »

Ah, that smell! The smell of featherlight, just-out-of-the-fryer doughnuts covered in a sugary glaze. The smell so good it drew lines of single-minded devotees, zombie-like, to the wholesale factory during the only time they were allowed to buy them -- between midnight and 4 a.m., through a window cut into the wall. Even the name was delicious: Krispy Kreme .

Related: 10 Crazy Things You Never Knew About Krispy Kreme

That's how the iconic company started, in Winston-Salem, N.C., in the 1930s. How it nearly ended, decades later, is a case study in how franchises can stumble. First there was the sale, in the 1970s, to an international conglomerate so big it peddled everything from luggage to bras to window treatments. For the new parent company, a doughnut chain was a handy way to unload products made by its other myriad divisions, including soup and ice cream -- which it actually sold at Krispy Kreme outlets. To cut costs, it even committed the sacrilege of changing the doughnut recipe.

Saviors emerged in 1982, when outraged franchisees banded together to buy back the company. But 18 years later, when the new owners took it public, the brand got sidelined again while scrambling to satisfy Wall Street's demand for higher earnings, fast. It responded to this pressure by abandoning its famous neon-clad promise of "Hot doughnuts now," making some of its signature product in central kitchens and trucking it to stores, and by selling cold doughnuts -- cold Krispy Kreme doughnuts! -- everywhere from 7-Elevens to gas stations to supermarkets, effectively competing against its own franchisees.

Meanwhile, the head office kept the balance sheet looking as hot as the doughnuts had once been. This was done in part by requiring franchisees to buy equipment and the doughnut mix from corporate's own manufacturing and distribution division -- which came to account for nearly a third of the company's revenues by 2003, all on the backs of franchisees -- and by adding hundreds of new locations (including many in New England, which were routed by a local religion known as Dunkin' Donuts). So while revenues were reported to be rising, same-store sales remained ominously flat.

Related: How to Figure Out Your Best Manufacturing Solution

The holes in this strategy became apparent as franchisees filed for bankruptcy protection, stores were shuttered and Krispy Kreme's stock price plummeted from a high of nearly $50 in 2003 to $6 only two years later.

And yet… Krispy Kreme is still among us. Better than that, the company is again flourishing, nabbing an impressive 18 spot on Entrepreneur 's 2017 Franchise 500 list . The story of how Krispy Kreme and other companies got from peak to valley to peak again is more than the tale of firms that faltered, recovered and thrived. It's an object lesson in how companies of all sorts can avoid hitting the skids, how prospective franchisees can avoid companies that are heading for trouble and most important, how with the right leadership and timing, even the most damaged brands can be revived and made stronger and more profitable.

Lesson 1: Get your hands dirty

Julie Hall remembers the day she had to work the fry-o-lator at McDonald's. She hadn't signed up for the job; she was a public relations pro with past experience representing Dunkin' Donuts, Baskin-Robbins, Au Bon Pain and others. But when her company took on the Golden Arches as a client, Hall and all her colleagues were required to work in a store for a week. I went to college for this? she recalls thinking as she made yet another batch of fries. But looking back on it now, she says, "It was the best experience I could have had, because I understood the challenges the people in the store had. It was brilliant."

Ask any franchising expert for advice, and they'll tell you this: If you're a franchisor, hire people with experience and make sure they get down into the trenches every now and again; if you're a franchisee, buy into systems run by leaders who truly understand their franchisees' challenges. These are pieces of advice that seem so obvious, they're hardly worth mentioning. But they are worth mentioning, and here's why: Despite what the International Franchising Association estimates is its $1.6 trillion annual economic impact in the United States, "nobody teaches" franchising in business school, says Joe Mathews, CEO of the consultancy Franchise Performance Group . "It's not on anybody's radar screen."

That's not entirely true. There are franchising schools, and an industry of consultants for hire to help companies at critical times. But compare that to the reams of academic studies and serious researchers who study the minutiae of other industries and produce well-educated graduates who are practically bred for success atop certain kinds of companies and you see just how underreported franchising is. One of the most comprehensive studies of the industry, by a professor at the Weatherhead School of Management at Case Western Reserve University, looked at 157 franchise businesses in 27 industries over 12 years -- and it dates back to the 1990s.

This means that few future business leaders are schooled in mastering the franchise model. Instead, franchises are often led by people who were successful in other realms -- like those who debuted the concepts in the first place. "What you see is someone who comes up with a great idea for a restaurant. They're hearing more about franchises, so they say, "This idea is great. I can make money by having other people do the same thing and pay me royalties,'" says Scott Ratchick, a lawyer in Atlanta who represents franchisees. "Well, they know how to run their restaurant. But they have no earthly idea how to run a franchise operation."

And sometimes franchises are managed by people who were successful in completely unrelated industries, which doesn't necessarily translate to being savvy about the business they're in now. Especially if they don't make a point of getting into the trenches like Hall did. A succession of chief financial officers who paraded through Krispy Kreme headquarters, for instance, included one who had worked for a kitchenware retailer and another who was an investment banker. The private equity firm that bought the now-defunct Hollywood Tans installed the former head of a tutoring service as CEO. "I know franchise companies that are being run by attorneys," says Don Welsh, a Sonic Drive-In franchisee in Philadelphia who is also a consultant to franchise companies and partner of Franchise Performance Group. "They don't know anything about the core business."

Franchising certainly isn't void of smart leaders. It has plenty. But all these people tend to have something in common: They've experienced franchising from many angles -- working as everything from fry cooks to senior executives -- and have developed a personal understanding of exactly what's required to be successful. That's why it's so critical for prospective franchisees to study up on the backgrounds of the people in charge -- to ensure not only that they are credible businesspeople but that they empathize with the challenges of franchising, understand the business on a molecular level and know how to provide a level of support their franchisees require.

Leadership can come in other forms, too. Increasingly, successful franchisees have been taking matters into their own hands by organizing themselves into franchisee associations. They protect their interests by, among other things, sharing best practices and helping one another deal with emerging issues corporate may not have a good handle on. If business schools aren't going to study franchising, the thinking goes, franchising will study and educate itself. Strong top-down leadership is critical, but "one of your best tools is a strong franchisee association," says Ratchick, the lawyer in Atlanta.

Lesson 2: Evolve, but wisely

Krispy Kreme may have undergone a series of damaging changes, straying from its strengths, but some franchises make the opposite, yet equally damaging, mistake: They stay the same for far too long. Sbarro, for example, went through two bankruptcies in three years and has long failed to update its menu or decor, or to move beyond its principal locations in shopping malls, where traffic has been dropping. RadioShack was similarly stagnant, and in 2015 it filed for its first of two bankruptcies. In the late '90s, Hardee's adopted a try-anything approach, larding its menus with everything from cheap burgers to fried chicken to hot dogs, surrendering any sort of brand identity, before shifting to focus on big burgers and finding lasting success.

How could once-dominant brands fail to change with the times? "What I think a lot of brands don't understand is how to balance heritage with innovation," says Hall. Squaring what people love about your brand and what you need to do to stay relevant is not easy, she admits. The largest franchises, after all, are beloved for their familiarity. They've built something steady, reliable, and time-tested that fans can count on no matter where they are.

Related: Can a Brand Bring Back Its History and Make It Relevant?

The smartest brands are always evolving, experimenting with ways to keep people's attention and stay relevant. "You need to have an innovation team that is really empowered to try new things," Hall says. Taco Bell, for example, has a food development lab that routinely cranks out crazy ideas -- some of which, like the Doritos Locos Tacos, become international phenomena. Other brands rely on their franchisees to help guide innovation, like Domino's, which has unit owners weigh in on new pizza recipes. This helps corporate keep up with changing customer preferences.

Domino's, in fact, is right up there with Krispy Kreme among turnaround successes -- all thanks to a willingness to change wisely. In 2009, when consumers ranked its pizza dead last among national chains, tied with Chuck E. Cheese's, the brand responded with a stunningly self-deprecating ad campaign, in which Domino's gave voice to its angry customers. ("Worst excuse for pizza I ever had," one said, in a review read aloud by a company exec.) That was followed by new recipes, expanded menus, a new name (the "Pizza" was dropped as the company added sandwiches and pasta), a new logo and a heavy use of social media for promotion. Sales soared.

But even though Domino's seemed to be reinventing itself, its core value proposition remained untouched -- quick food, cheap and with a bit of an irreverent attitude. That's always the key to a successful evolution: adding and improving, not replacing your core.

Today the same tension is playing out with Sonic Drive-In. The franchise made its name as "America's drive-in," trading on nostalgia for an old mode of food service. That's worked well; Sonic has 3,526 units in 45 states, each ringing up an average of $1.28 million in sales. But one nagging thing has long inhibited growth: the weather. The drive-in concept loses its appeal when the weather turns cold. So for the past few years, the company has been experimenting with the previously unthinkable idea of indoor seating.

Is that a change to its core, or is its core really the food and atmosphere? Opinions vary. "They're diluting the drive-in idea, which was their biggest strength, and that's a mistake 99 percent of franchisors make," says Welsh of Franchise Performance Group. Then again, in Chesapeake, Va., after one Sonic opened a dining room this year, the owner gushed about it to his local newspaper. Sales were up, he said. His customers had been asking for it for years.

This tension, no doubt, is why Sonic is rolling out its experiment slowly; so it can learn, but safely.

Lesson 3: Partner smart

So, yes, sometimes a brand can go off the rails after a long period of success by hiring the wrong people or messing with the core product. There are other times, however, when a franchisee or franchisor never got the chance to succeed at all. That's because a more elemental mistake had been made: starting with the wrong partner.

The first place this plays out is with financing. Franchisors may need more money to scale up, and franchisees may need it to open new locations. But some investors -- particularly private equity firms and some equity investors -- may expect immediate results. "That's antithetical to what a franchisee wants to do, which is look to the long term," says Robert Purvin, of the American Association of Franchisees and Dealers. "An operator has a 10-, 15-, 20-year horizon, based on the usual terms of a franchise agreement," says Joyce Mazero, co-chair of the global supply network group at the law firm of Gardere Wynne Sewell in Dallas, and an editorial adviser to the book Franchising for Dummies . "And the investor has a five-year horizon." Public companies can come under similar pressure from shareholders.

Haste like this can lead to bad decisions, such as expanding too quickly or oversaturating a market. Franchisors, forced to raise quick cash, may be tempted to get it through unfriendly deals with their franchisees -- such as leasing or selling them overpriced equipment and ingredients.

Experts say the key is to seek out capital partners who have patient and realistic plans over achievable timelines -- value investors and mutual fund managers, for example, who are happy to wait for their returns to play out. Not only are they out there; mutual fund managers with the most patient investment strategies actually tend to outperform their benchmarks, according to research at Rutgers and the University of Notre Dame.

Hot doughnuts: Now and forever

Krispy Kreme hatched a turnaround plan in 2005, under a revamped board of directors and a new CEO, Stephen Cooper (who had previously led embattled Enron out of bankruptcy). The company began raising cash to repay its creditors, stabilizing the business and keeping it going. In May of last year came word that the chain would be acquired for $1.35 billion, or $21 per share, by JAB Holding Company, the Luxembourg firm that owns Keurig, Einstein Bros. Bagels, Caribou Coffee and Peet's Coffee & Tea. In other words: a company that knows food service. The deal was completed in July 2016, making Krispy Kreme a private company again, built for the long haul.

Related: 5 Ways Leaders Must Evolve Business and Reinvent Industries for the 21st Century

After its long and tortured journey, its peaks and its valleys, Krispy Kreme is growing again -- but wiser and more judiciously this time, careful to not repeat the mistakes of the past. Which isn't to say things are boring. Indeed, there may be still some fun ahead. Among other places, the reinvigorated company is eyeing seven new locations in New England. That was the site of its ugly defeat at the hands of Dunkin' Donuts, back in Krispy Kreme's days of heedless expansion. These places still run on Dunkin' -- that brand is based in the Boston suburbs and is beloved across the region -- but with the right strategy in place, the addictive smell of Krispy Kreme could signal heated competition soon enough.

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Global doughnut icon finds HCM success with RSM support

Krispy kreme transforms people processes after ukg pro implementation.

Growing companies often require transforming key technology systems to maintain progress seamlessly. But many organizations do not have the experience to manage such a transition in-house or the in-depth insight into successfully integrating leading solutions without business disruptions.

Krispy Kreme Doughnut Corporation is an iconic international doughnut company headquartered in Charlotte, North Carolina, with more than 8,700 employees in nearly 40 countries. When Krispy Kreme decided to invest in a new human capital management (HCM) system, they chose award-winning UKG Pro (formerly UltiPro) to meet their growing needs. Knowing their lean corporate team did not have experience with this scale of implementation, and that the work would be on top of their full-time responsibilities, they understood it was worth the investment to bring in professional consultants.

Determined to find the best implementation provider, the team at Krispy Kreme sought referrals from respected colleagues, did their homework and brought in RSM US LLP to do the heavy lifting.

With an ambitious timeline, Krispy Kreme found right away that having RSM’s knowledgeable, experienced consultants on the job paved the way to get things done more quickly and with better results. “They understood the HR side, the payroll side and the taxes, so that was very helpful in getting our implementation off the ground so quickly,” said Kathy Fearrington, Krispy Kreme’s manager of payroll.

RSM conducted Krispy Kreme’s UKG Pro implementation, including:

• Business intelligence reports and training
• General ledger and organization-level setup
• Code configuration and taxation
• Data cleanup and conversion plus parallel testing

Following the successful implementation, the Krispy Kreme team initiated a long-term connection to access various UKG Pro support services from RSM consultants. Fearrington says she has already recommended RSM to other organizations. “RSM more than exceeded my expectations. They were always very responsive. I value the relationship we have with RSM.”

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Krispy Kreme Doughnuts

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Paul M. Healy

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Krispy Kreme Case Study

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Krispy Kreme Doughnuts Case Analysis and Case Solution

Posted by Peter Williams on Aug-09-2018

Introduction of Krispy Kreme Doughnuts Case Solution

The Krispy Kreme Doughnuts case study is a Harvard Business Review case study, which presents a simulated practical experience to the reader allowing them to learn about real life problems in the business world. The Krispy Kreme Doughnuts case consisted of a central issue to the organization, which had to be identified, analysed and creative solutions had to be drawn to tackle the issue. This paper presents the solved Krispy Kreme Doughnuts case analysis and case solution. The method through which the analysis is done is mentioned, followed by the relevant tools used in finding the solution.

The case solution first identifies the central issue to the Krispy Kreme Doughnuts case study, and the relevant stakeholders affected by this issue. This is known as the problem identification stage. After this, the relevant tools and models are used, which help in the case study analysis and case study solution. The tools used in identifying the solution consist of the SWOT Analysis, Porter Five Forces Analysis, PESTEL Analysis, VRIO analysis, Value Chain Analysis, BCG Matrix analysis, Ansoff Matrix analysis, and the Marketing Mix analysis. The solution consists of recommended strategies to overcome this central issue. It is a good idea to also propose alternative case study solutions, because if the main solution is not found feasible, then the alternative solutions could be implemented. Lastly, a good case study solution also includes an implementation plan for the recommendation strategies. This shows how through a step-by-step procedure as to how the central issue can be resolved.

Problem Identification of Krispy Kreme Doughnuts Case Solution

Harvard Business Review cases involve a central problem that is being faced by the organization and these problems affect a number of stakeholders. In the problem identification stage, the problem faced by Krispy Kreme Doughnuts is identified through reading of the case. This could be mentioned at the start of the reading, the middle or the end. At times in a case analysis, the problem may be clearly evident in the reading of the HBR case. At other times, finding the issue is the job of the person analysing the case. It is also important to understand what stakeholders are affected by the problem and how. The goals of the stakeholders and are the organization are also identified to ensure that the case study analysis are consistent with these.

Analysis of the Krispy Kreme Doughnuts HBR Case Study

The objective of the case should be focused on. This is doing the Krispy Kreme Doughnuts Case Solution. This analysis can be proceeded in a step-by-step procedure to ensure that effective solutions are found.

• In the first step, a growth path of the company can be formulated that lays down its vision, mission and strategic aims. These can usually be developed using the company history is provided in the case. Company history is helpful in a Business Case study as it helps one understand what the scope of the solutions will be for the case study.
• The next step is of understanding the company; its people, their priorities and the overall culture. This can be done by using company history. It can also be done by looking at anecdotal instances of managers or employees that are usually included in an HBR case study description to give the reader a real feel of the situation.
• Lastly, a timeline of the issues and events in the case needs to be made. Arranging events in a timeline allows one to predict the next few events that are likely to take place. It also helps one in developing the case study solutions. The timeline also helps in understanding the continuous challenges that are being faced by the organisation.

SWOT analysis of Krispy Kreme Doughnuts

An important tool that helps in addressing the central issue of the case and coming up with Krispy Kreme Doughnuts HBR case solution is the SWOT analysis.

• The SWOT analysis is a strategic management tool that lists down in the form of a matrix, an organisation's internal strengths and weaknesses, and external opportunities and threats. It helps in the strategic analysis of Krispy Kreme Doughnuts.
• Once this listing has been done, a clearer picture can be developed in regards to how strategies will be formed to address the main problem. For example, strengths will be used as an advantage in solving the issue.

Therefore, the SWOT analysis is a helpful tool in coming up with the Krispy Kreme Doughnuts Case Study answers. One does not need to remain restricted to using the traditional SWOT analysis, but the advanced TOWS matrix or weighted average SWOT analysis can also be used.

Porter Five Forces Analysis for Krispy Kreme Doughnuts

Another helpful tool in finding the case solutions is of Porter's Five Forces analysis. This is also a strategic tool that is used to analyse the competitive environment of the industry in which Krispy Kreme Doughnuts operates in. Analysis of the industry is important as businesses do not work in isolation in real life, but are affected by the business environment of the industry that they operate in. Harvard Business case studies represent real-life situations, and therefore, an analysis of the industry's competitive environment needs to be carried out to come up with more holistic case study solutions. In Porter's Five Forces analysis, the industry is analysed along 5 dimensions.

• These are the threats that the industry faces due to new entrants.
• It includes the threat of substitute products.
• It includes the bargaining power of buyers in the industry.
• It includes the bargaining power of suppliers in an industry.
• Lastly, the overall rivalry or competition within the industry is analysed.

This tool helps one understand the relative powers of the major players in the industry and its overall competitive dynamics. Actionable and practical solutions can then be developed by keeping these factors into perspective.

PESTEL Analysis of Krispy Kreme Doughnuts

Another helpful tool that should be used in finding the case study solutions is the PESTEL analysis. This also looks at the external business environment of the organisation helps in finding case study Analysis to real-life business issues as in HBR cases.

• The PESTEL analysis particularly looks at the macro environmental factors that affect the industry. These are the political, environmental, social, technological, environmental and legal (regulatory) factors affecting the industry.
• Factors within each of these 6 should be listed down, and analysis should be made as to how these affect the organisation under question.
• These factors are also responsible for the future growth and challenges within the industry. Hence, they should be taken into consideration when coming up with the Krispy Kreme Doughnuts case solution.

VRIO Analysis of Krispy Kreme Doughnuts

This is an analysis carried out to know about the internal strengths and capabilities of Krispy Kreme Doughnuts. Under the VRIO analysis, the following steps are carried out:

• The internal resources of Krispy Kreme Doughnuts are listed down.
• Each of these resources are assessed in terms of the value it brings to the organization.
• Each resource is assessed in terms of how rare it is. A rare resource is one that is not commonly used by competitors.
• Each resource is assessed whether it could be imitated by competition easily or not.
• Lastly, each resource is assessed in terms of whether the organization can use it to an advantage or not.

The analysis done on the 4 dimensions; Value, Rareness, Imitability, and Organization. If a resource is high on all of these 4, then it brings long-term competitive advantage. If a resource is high on Value, Rareness, and Imitability, then it brings an unused competitive advantage. If a resource is high on Value and Rareness, then it only brings temporary competitive advantage. If a resource is only valuable, then it’s a competitive parity. If it’s none, then it can be regarded as a competitive disadvantage.

Value Chain Analysis of Krispy Kreme Doughnuts

The Value chain analysis of Krispy Kreme Doughnuts helps in identifying the activities of an organization, and how these add value in terms of cost reduction and differentiation. This tool is used in the case study analysis as follows:

• The firm’s primary and support activities are listed down.
• Identifying the importance of these activities in the cost of the product and the differentiation they produce.
• Lastly, differentiation or cost reduction strategies are to be used for each of these activities to increase the overall value provided by these activities.

Recognizing value creating activities and enhancing the value that they create allow Krispy Kreme Doughnuts to increase its competitive advantage.

BCG Matrix of Krispy Kreme Doughnuts

The BCG Matrix is an important tool in deciding whether an organization should invest or divest in its strategic business units. The matrix involves placing the strategic business units of a business in one of four categories; question marks, stars, dogs and cash cows. The placement in these categories depends on the relative market share of the organization and the market growth of these strategic business units. The steps to be followed in this analysis is as follows:

• Identify the relative market share of each strategic business unit.
• Identify the market growth of each strategic business unit.
• Place these strategic business units in one of four categories. Question Marks are those strategic business units with high market share and low market growth rate. Stars are those strategic business units with high market share and high market growth rate. Cash Cows are those strategic business units with high market share and low market growth rate. Dogs are those strategic business units with low market share and low growth rate.
• Relevant strategies should be implemented for each strategic business unit depending on its position in the matrix.

The strategies identified from the Krispy Kreme Doughnuts BCG matrix and included in the case pdf. These are either to further develop the product, penetrate the market, develop the market, diversification, investing or divesting.

Ansoff Matrix of Krispy Kreme Doughnuts

Ansoff Matrix is an important strategic tool to come up with future strategies for Krispy Kreme Doughnuts in the case solution. It helps decide whether an organization should pursue future expansion in new markets and products or should it focus on existing markets and products.

• The organization can penetrate into existing markets with its existing products. This is known as market penetration strategy.
• The organization can develop new products for the existing market. This is known as product development strategy.
• The organization can enter new markets with its existing products. This is known as market development strategy.
• The organization can enter into new markets with new products. This is known as a diversification strategy.

The choice of strategy depends on the analysis of the previous tools used and the level of risk the organization is willing to take.

Marketing Mix of Krispy Kreme Doughnuts

Krispy Kreme Doughnuts needs to bring out certain responses from the market that it targets. To do so, it will need to use the marketing mix, which serves as a tool in helping bring out responses from the market. The 4 elements of the marketing mix are Product, Price, Place and Promotions. The following steps are required to carry out a marketing mix analysis and include this in the case study analysis.

• Analyse the company’s products and devise strategies to improve the product offering of the company.
• Analyse the company’s price points and devise strategies that could be based on competition, value or cost.
• Analyse the company’s promotion mix. This includes the advertisement, public relations, personal selling, sales promotion, and direct marketing. Strategies will be devised which makes use of a few or all of these elements.
• Analyse the company’s distribution and reach. Strategies can be devised to improve the availability of the company’s products.

Krispy Kreme Doughnuts Blue Ocean Strategy

The strategies devised and included in the Krispy Kreme Doughnuts case memo should have a blue ocean strategy. A blue ocean strategy is a strategy that involves firms seeking uncontested market spaces, which makes the competition of the company irrelevant. It involves coming up with new and unique products or ideas through innovation. This gives the organization a competitive advantage over other firms, unlike a red ocean strategy.

Competitors analysis of Krispy Kreme Doughnuts

The PESTEL analysis discussed previously looked at the macro environmental factors affecting business, but not the microenvironmental factors. One of the microenvironmental factors are competitors, which are addressed by a competitor analysis. The Competitors analysis of Krispy Kreme Doughnuts looks at the direct and indirect competitors within the industry that it operates in.

• This involves a detailed analysis of their actions and how these would affect the future strategies of Krispy Kreme Doughnuts.
• It involves looking at the current market share of the company and its competitors.
• It should compare the marketing mix elements of competitors, their supply chain, human resources, financial strength etc.
• It also should look at the potential opportunities and threats that these competitors pose on the company.

Organisation of the Analysis into Krispy Kreme Doughnuts Case Study Solution

Once various tools have been used to analyse the case, the findings of this analysis need to be incorporated into practical and actionable solutions. These solutions will also be the Krispy Kreme Doughnuts case answers. These are usually in the form of strategies that the organisation can adopt. The following step-by-step procedure can be used to organise the Harvard Business case solution and recommendations:

• The first step of the solution is to come up with a corporate level strategy for the organisation. This part consists of solutions that address issues faced by the organisation on a strategic level. This could include suggestions, changes or recommendations to the company's vision, mission and its strategic objectives. It can include recommendations on how the organisation can work towards achieving these strategic objectives. Furthermore, it needs to be explained how the stated recommendations will help in solving the main issue mentioned in the case and where the company will stand in the future as a result of these.
• The second step of the solution is to come up with a business level strategy. The HBR case studies may present issues faced by a part of the organisation. For example, the issues may be stated for marketing and the role of a marketing manager needs to be assumed. So, recommendations and suggestions need to address the strategy of the marketing department in this case. Therefore, the strategic objectives of this business unit (Marketing) will be laid down in the solutions and recommendations will be made as to how to achieve these objectives. Similar would be the case for any other business unit or department such as human resources, finance, IT etc. The important thing to note here is that the business level strategy needs to be aligned with the overall corporate strategy of the organisation. For example, if one suggests the organisation to focus on differentiation for competitive advantage as a corporate level strategy, then it can't be recommended for the Krispy Kreme Doughnuts Case Study Solution that the business unit should focus on costs.
• The third step is not compulsory but depends from case to case. In some HBR case studies, one may be required to analyse an issue at a department. This issue may be analysed for a manager or employee as well. In these cases, recommendations need to be made for these people. The solution may state that objectives that these people need to achieve and how these objectives would be achieved.

The case study analysis and solution, and Krispy Kreme Doughnuts case answers should be written down in the Krispy Kreme Doughnuts case memo, clearly identifying which part shows what. The Krispy Kreme Doughnuts case should be in a professional format, presenting points clearly that are well understood by the reader.

Alternate solution to the Krispy Kreme Doughnuts HBR case study

It is important to have more than one solution to the case study. This is the alternate solution that would be implemented if the original proposed solution is found infeasible or impossible due to a change in circumstances. The alternate solution for Krispy Kreme Doughnuts is presented in the same way as the original solution, where it consists of a corporate level strategy, business level strategy and other recommendations.

Implementation of Krispy Kreme Doughnuts Case Solution

The case study does not end at just providing recommendations to the issues at hand. One is also required to provide how these recommendations would be implemented. This is shown through a proper implementation framework. A detailed implementation framework helps in distinguishing between an average and an above average case study answer. A good implementation framework shows the proposed plan and how the organisations' resources would be used to achieve the objectives. It also lays down the changes needed to be made as well as the assumptions in the process.

• A proper implementation framework shows that one has clearly understood the case study and the main issue within it.
• It shows that one has been clarified with the HBR fundamentals on the topic.
• It shows that the details provided in the case have been properly analysed.
• It shows that one has developed an ability to prioritise recommendations and how these could be successfully implemented.
• The implementation framework also helps by removing out any recommendations that are not practical or actionable as these could not be implemented. Therefore, the implementation framework ensures that the solution to the Krispy Kreme Doughnuts Harvard case is complete and properly answered.

Recommendations and Action Plan for Krispy Kreme Doughnuts case analysis

For Krispy Kreme Doughnuts, based on the SWOT Analysis, Porter Five Forces Analysis, PESTEL Analysis, VRIO analysis, Value Chain Analysis, BCG Matrix analysis, Ansoff Matrix analysis, and the Marketing Mix analysis, the recommendations and action plan are as follows:

• Krispy Kreme Doughnuts should focus on making use of its strengths identified from the VRIO analysis to make the most of the opportunities identified from the PESTEL.
• Krispy Kreme Doughnuts should enhance the value creating activities within its value chain.
• Krispy Kreme Doughnuts should invest in its stars and cash cows, while getting rid of the dogs identified from the BCG Matrix analysis.
• To achieve its overall corporate and business level objectives, it should make use of the marketing mix tools to obtain desired results from its target market.

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For doughnut and coffee lovers (so that’s everyone, right?) Krispy Kreme needs little introduction. But with over 1,800 learners, operations in over 115 locations, and factory stores in key cities including Manchester, Birmingham, Bristol, Edinburgh, Newcastle and Leeds, they needed a Learning Platform that engaged their people and filled the holes in their dinosaur LMS; a platform that would become intrinsic to their learners' daily routine - and stop their eyes glazing over. Enter Thrive.

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Compliance data was a big issue

Krispy Kreme’s old learning platform wasn’t providing the level they required. In a culture that prides itself on employee engagement and high performance, they wanted to enable self-driven learning, collaboration and knowledge sharing in one, co-created place.

"We felt confident we were making the right decision"

We already had a great relationship with the Krispy Kreme team, because they’ve been using Thrive Content since April 2019 to share bite-sized learning resources in the flow of work. That meant they’d already experienced the Thrive service - and they already knew the platform would be a great fit. From there, moving over to Thrive became a no-brainer, and with plans to expand to over 3,000 learners in the future, we’re delighted to give everyone at Krispy Kreme a learning experience that has them licking their lips!

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