Tootsie Roll Candy Research Paper

Tootsie Roll’s simple strategy is to be (and remain) a top-quality producer and distributor of Tootsie Rolls and other candy products, in an industry where it currently has 2 to 3 percent of market share. Specifically, the company has determined to specialize, almost entirely, in hard candies (such as Tootsie Pops and Blow Pops) and chewy candies (such as Tootsie Roll, Frooties and Flavor Roll), and it currently maintains a 50 percent market share in this unique segment. The success of Tootsie Roll in the U.S. for the past 19 years is attributable to the strong consumer awareness of the company’s brand name and brand loyalty. Over time, Tootsie Roll has neither diluted the quality of its products nor failed to

Tootsie Roll Industries is an American manufacturer of confectionery products. The company's history date back to 1896 when Leo Hirschfield began making and selling individually wrapped, chocolate flavored candy named after his daughter "Tootsie". The product became an instant success and demand quickly exceeded supply. To increase output, Hirschfield merged operations with local candy manufacturer Stern & Staalberg (1). In 1917, the company changed its name to The Sweets Company of America and began advertising nationally. In 1966, the company’s name changed again to what it is known by today, Tootsie Roll Industries. (2)

Skittles are a hard shelled, fruit flavored candy loved by many today. Skittles first came into existence in Britain in 1974. They were introduced to the United States in 1979 but weren’t actually produced until 1982 where they are now a product of Wrigley. The Skittles catchphrase, “Taste the Rainbow” was came about in 1994. The Skittles Company has a variety of flavors from Sour Skittles, released in 2000; Bubble Gum Skittles, released in 2004; and Smoothie Fruit Mix, released in 2005. The Original Skittles consist of a strawberry flavor, an orange flavor, a lemon flavor, a green apple flavor, and a grape flavor. According to Wrigley, Skittles colors/flavors are all evenly distributed in each of their packs. So our question in hand was, is this claim actually true and if so, is the ratio of flavors in the regular sized (2.17 oz.) Skittles packs the same as the Fun Sized packs of Skittles? We chose do experiment with this because collectively as a group, we all love Skittles and from our understanding we initially assumed prior to conducting the experiment that Skittles had an equal number of flavors in each pack. There are five flavors in a pack, so that means that each pack should have 20% of each flavor. We decided that our null hypothesis would be H0:

Finished goods inventory is the finished Tootsie Roll ® candies’ inventory value after they have been created, wrapped, packaged, and are ready to be sold. The total value of inventory at Tootsie Roll on December 31, 2015 was $62.263 million.

Tootsie Roll Industries, Inc. has been engaged in the manufacture and sale of confectionery products for 113 years. Our products are primarily sold under the familiar brand names: Tootsie Roll, Tootsie Roll Pops, Caramel Apple Pops, Child’s Play, Charms, Blow Pop, Blue Razz, Cella’s chocolate covered cherries, Tootsie Dots, Tootsie Crows, Junior Mints, Junior Caramels, Charleston Chew, Sugar Daddy, Sugar Babies, Andes, Fluffy Stuff cotton candy, Dubble Bubble, Razzles, Cry Baby, Nik-L-Nip and EI Bubble.

Tootsie Roll Industries (TR), a popular world-wide confectionary company, has been successful since inception in 1986 with the introduction of the Tootsie Roll and has profited from low prices, quality and convenience. TR is in a solid position for growth with a strong balance sheet, great brand equity, and control over in-house operations. The company is controlled by the CEO and COO, Melvin and Ellen Gordon.

Tootsie Rolls are one of the top candy sellers in the United States. Tootsie Rolls were first made in 1896 by Leo Hirshfield. He was an immigrant that came from Austria, and his dream was to make candy recipes. He made them in his own small candy shop in New York City. Tootsie Rolls were named after Hirshfields daughter "Tootsie", her real name was Clara Hirshfield.

Tootsie Roll will continue to use visual aspects in its campaign mix, just as Kit Kat, M& M’s, and Hershey have done previously. For instance, the owl licking the Tootsie Roll lollypop connects the customer to the product. The child asks the owl how many licks it takes to get to the middle of the Tootsie Roll pop. The owl will lick the lollipop and begin counting.

Tootsie Roll Industries, Inc., a niche candy maker, has often been voted one of Forbes magazine’s “200 Best Small Companies of America.” A top quality producer and distributor of Tootsie Rolls and other candy, Tootsie Roll Industries maintains a 50% market share of the taffy and lollipop segment of the candy industry, and sales have increased each year for the past nineteen years. The world’s largest

8 Similarly, the flagship product, a “Tootsie Roll” is a secret recipe that has no direct or notable substitute. This somewhat defensive strategy, as well as the company’s independence, is reflected when the current CEO when asked about the potential of being bought out by competitors like Nestle and Phillip Morris:

I am sure we have all seen or heard about taffy. What I would think would come to mind to most people when I would say something regarding taffy might be something concerning saltwater taffy. I love saltwater taffy. It seems that it is not in great supply around here. The only place I know of is somewhere like the cracker barrel. Needless to say I never go to cracker barrel, and it is a little more than I feel comfortable spending on candy. So I find myself resorting to a childhood favorite, laffy taffy. It is sold everywhere, and it is very inexpensive. I really started to like it when I played baseball as a kid. After the game I would always try to pump mom or dad for a few cents to stock up. It never made it home. I would somehow eat my entire entire stockpile. Whoever came up with the idea of putting jokes inside the wrapper is a very rich man. I could not help but to try to unwrap one more. The way the jokes where printed on the wrapper was very smart too. They would put one joke half way on the wrapper so it made me want to know the end of the joke, genius really.

Tootsie Roll’s highest selling period was Halloween (which is common for most candy manufacturers) and focused on promotional programs to target consumers. Also, they changed up their packaging to adapt to the trends of the consumers and catch their eyes.

Overall Tootsie Roll has better liquidity. Liquidity measures the short-term ability to pay obligations as they are expected to be due within the next year.

In week three, Learning Team E presents a loan package for public held company, Tootsie Roll Industries, Inc., in business for over 100 years. Tootsie Roll is a manufacturer of confectionery products. In addition to sales in the United States, Tootsie Roll’s profits grew in Mexico, Canada, Europe, Asia, South and Central America. This loan package consists of three sections: Financial Ratios, Corporate Strategy-2008 Project: Capital Expenditure, and Loan Approval’s Effect on Tootsie Roll Industry, Inc. Financials.

You'll be matching confections to boost concentrates as well as job in the direction of the list below stage. There are containers of carbonated refreshments. Consequently the name, and also the brand-new mode: Soda. Pop consists of comparing flasks with confections to release purple appear the display, in the long run liberating some confection births.