The business market is a crowded, and this, therefore, calls for every entrepreneur or business owner to revise their strategies and tactics to counter competition, hold a broader customer base and at the end of the day make a profit. While most of the macro factors of business as widely known, it is the small differences that matter. This can be seen through a scrutiny of Chobani yogurt, a firm that indulges in the typical business environment, yet acquires an excellent outcome. This hence requires the analysis of the different ingredients that allowed for these successes, the competencies exhibited by Ulukaya, the owner, the role of globalization in the success of Chobani, as well as suggests a business strategy that will guarantee an endless regime of profitable business.
For Ulukaya, his business success commenced with his product background. Growing up in Turkey, and getting used to the Greek yogurt, he gradually became an expert (aficionado) in matter yogurt, and this made him instantly realize a gap in the American yogurt market. He was enthusiastic about making the home experience last even in a foreign country, and this made him enter the market. His risk-taking tendencies paid off handsomely. He impulsively bought a company that was at the verge of collapsing, invested all his savings, all for a product he did not even know would be adored as it was back home. He uniquely approached the market from the product to the packaging, advertisement and market coverage. Instead of the typical traditional advertisement, he invented something that was involuntarily visible. His patience is also commendable, as he took time trying and testing his products before launching in 2007. He was optimistic yet realistic, and this even bore more fruit through sales and profits.
Globalization has been a crucial aspect of a business. Globalization created a chance for the free movement of people, an element that landed Ulukaya in the US. Secondly, the global market offers several opportunities for business owners to market their goods. Some of the equipment he used was from Columbia, and the products were sold to long island, Europe and Australia. The success of a business through the global market can be seen through the transformation of Chobani, from the target 20,000 to 1.2 million cases a week. While this success is undisputed, many firms have grown to imitate this differentiated product. Therefore, for Ulukaya to retain his competitive advantage, he could embrace the acquisition strategy (Suttle, 2019). He could hence buy another company, or maybe establish another joint in another country to ensure he gets the bigger share of the global market pie.
Borrowing from Ulukaya's words, it takes the right products, in the right market through the right approach to outdo what others have long been doing. Approaching the market with a unique perspective, and an undaunted enthusiasm is all it takes to break the glass ceiling.
Suttle R. (2019, February 12). Different types of business strategies. Chron. Retrieved from https://smallbusiness.chron.com/different-types-business-strategies-4634.html
Cite this page
Essay Example on Chobani Yogurt: Succeeding in a Crowded Business Market. (2022, Dec 29). Retrieved from https://proessays.net/essays/essay-example-on-chobani-yogurt-succeeding-in-a-crowded-business-market
If you are the original author of this essay and no longer wish to have it published on the ProEssays website, please click below to request its removal:
- Marketing Strategies of Cadbury Essay
- Dunkin Donut Company's Marketing Paper Example
- Paper Example on Red Carpet Company Challenges
- Description of Walmart and Overview of Its Systems - Paper Example
- History of Wal-Mart - Essay Sample
- Essay Example on Robust IT Systems: A Necessity for Business Entities
- UAE Road & Transport Sector: Aligning Strategies for Success - Research Paper