Introduction and Business History/ Description
Leo Hirschfield founded Tootsie Roll Industries Inc. in 1896 when he invents the first Tootsie Roll and sells it for one penny. Throughout the history of the company, they have been huge supporters of American troops. In 1942-1945 Tootsie rolls were providing “quick energy” to the troops in World War II and continue to show their support today. One of the company’s most famous products, the Tootsie Roll Tootsie Pop, was invented in 1931 and the slogan, “how many licks does it take to get to the center of a Tootsie Pop,” is born. More recently, in 2004 the company acquired Concord Confections, the makers of the famous Dubble Bubble and Wack-O-Wax. Their mission as stated, is to “set industry …show more content…
They specialize in the manufacturing and selling of confectionery products, and are part of the consumer goods sector. They conduct the majority of their business in three countries, including United States, Mexico and Canada but their products are still sold worldwide. The company has marketed its products in a numerous amount of packages that are suitable for every location in which it is sold. Some of their top selling products are Tootsie Rolls, Tootsie Pop, Caramel Apple Pops, Blow Pops, etc. They currently house about 2000 employees throughout the company that they attribute their success too, as well as all of their suppliers and customers. Their strategy to continue their success will be disclosed further, as well as their financial position currently compared to their past fiscal …show more content…
These customers tend to be wholesalers of candy and grocery, supermarkets, variety stores, dollar stores, grocery store chains, drug store chains, mass merchandisers, vending machine operators, etc. Accounting for 23.7% of the company’s net product sales in 2015, Wal-Mart is currently the company’s largest customer. As stated previously the company’s main markets are located in the United States, Canada and Mexico. In which most of the production in Canada is sold in the United States, while the majority of the production in Mexico is sold in Mexico. Although the majority of the direct customers are found in the United States, Canada, and Mexico, the products are also sold worldwide to indirect customers or customers of the businesses Tootsie Roll Industries sells directly
Leo Hirschfield founded Tootsie Roll Industries Inc. in 1896 when he invents the first Tootsie Roll and sells it for one penny. Throughout the history of the company, they have been huge supporters of American troops. In 1942-1945 Tootsie rolls were providing “quick energy” to the troops in World War II and continue to show their support today. One of the company’s most famous products, the Tootsie Roll Tootsie Pop, was invented in 1931 and the slogan, “how many licks does it take to get to the center of a Tootsie Pop,” is born. More recently, in 2004 the company acquired Concord Confections, the makers of the famous Dubble Bubble and Wack-O-Wax. Their mission as stated, is to “set industry …show more content…
They specialize in the manufacturing and selling of confectionery products, and are part of the consumer goods sector. They conduct the majority of their business in three countries, including United States, Mexico and Canada but their products are still sold worldwide. The company has marketed its products in a numerous amount of packages that are suitable for every location in which it is sold. Some of their top selling products are Tootsie Rolls, Tootsie Pop, Caramel Apple Pops, Blow Pops, etc. They currently house about 2000 employees throughout the company that they attribute their success too, as well as all of their suppliers and customers. Their strategy to continue their success will be disclosed further, as well as their financial position currently compared to their past fiscal …show more content…
These customers tend to be wholesalers of candy and grocery, supermarkets, variety stores, dollar stores, grocery store chains, drug store chains, mass merchandisers, vending machine operators, etc. Accounting for 23.7% of the company’s net product sales in 2015, Wal-Mart is currently the company’s largest customer. As stated previously the company’s main markets are located in the United States, Canada and Mexico. In which most of the production in Canada is sold in the United States, while the majority of the production in Mexico is sold in Mexico. Although the majority of the direct customers are found in the United States, Canada, and Mexico, the products are also sold worldwide to indirect customers or customers of the businesses Tootsie Roll Industries sells directly