Essay on Yorktown Technologies Case Study

1213 WordsFeb 17, 20115 Pages
Case Recap This case outlines the various regulatory obstacles faced by the CEO and co-founder of Yorktown Technologies, Alan Blake, when marketing the new GloFish genetically modified tropical zebra fish. GloFish are originally zebra fish that come from India and other surrounding countries and more than 200 million of these ornamental fish are sold in the United States. This case focuses on the struggles face by the founders of Yorktown Technologies, Blake and Crockette, to find a successful marketing strategy that would help the company reach its revenue goal. Blake and Crockett had a successful fundraising strategy and investors such as Dr. John Rosemary and Dr. Will Hughes, which allowed them to raise additional…show more content…
Another problem that Yorktown Technologies faced is that due t the ethical concerns of the consumers and retailers, the larger retail chains had declined to carry the fish which left the company able to only sell into a fraction of the potential market. Furthermore, another problem with the marketing strategy of the GloFish zebra fish is the fact that its fluorescent zebra fish is not attractive enough to the consumer therefore the number of fish sold had no nearly reached the number hoped. Case Analysis The important market aspect discussed in this case if the education of retailers and consumers about your product, irrespective of the distribution decision, and your product positioning within the market. According to this article the Yorktown Technologies made a few crucial marketing mistakes. For instance, when they began to market this product they were rushed into launching it due to the overwhelming publicity which caused them to have a very high demand with a limited supply. When beginning the company they generated more than $120,000 loss in 2004. The majority of the fresh water ornamental fish sold in the United States are purchased from three major retail chains: Walmart, PetSmart, and PETCO. When GloFish was at first introduced none of these mentioned above retail stores wanted to carry the fluorescent zebra fish, now Yorktown Technologie’s suppliers

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