Diasporic Entrepreneurship in the Caribbean - Firm Profiles.pdf Vol 2 | Page 17

Agro-processing Firms Main Products/Services: Jamaican patties, jerk chicken and bread. Location: Bronx, New York City, USA Employment: 220 persons (Main Factory, Bronx, New York) Target Market: West Indians living in the USA Diasporic Market Analysis: Golden Krust has been successful in adopting a franchising strategy with the diaspora as its core market. The company has a standard research methodology that targets and follows the Caribbean diaspora. The product is sold in 120,000 supermarkets in the USA, including lead supermarkets such as Dollar Tree, Win Dixie, Publix, Costco, Pigley Wigley, and Shoprite. In addition, Golden Krust franchises its brand mainly to West Indians, predominately Jamaicans, living in the USA. In addition, as part of its policy to fully integrate Jamaica into its marketing sphere, “Bigga” Soft Drink and the Gleaner newspaper are imported from Jamaica to target the creation of an authentic Jamaican experience and cater to taste of the diasporic consumers. Competitive Edge: Golden Krust Bakery maintains its competitive edge by: Diasporic Market Analysis: Since the company’s inception in 1989, it has supported multiple programmes and charities throughout the Caribbean and mainly is the diaspora communities of the USA. As the company has grown into an international institution, and the needs of loyal customers became more evident, it adjusted its structure to cater to these needs. As these needs grew, it became necessary for the company to establish an associated institution dedicated solely to serving the communities in which it operates; the Mavis and Ephraim Hawthrone Foundation was therefore formed in 2005. The Foundation is committed to offering educational scholarships, and the development of community programmes geared at providing social services. The Foundation also lends its support to various activities including those related to cancer awareness. • Providing consumers with authentic, tasty Jamaican patties and relevant Caribbean cuisine in convenient settings and sizes; • Maintaining outstanding, predictable customer service; • Providing employees with a rewarding, enjoyable aspirational environment; • Offering stakeholders a superior return on their investments; • Having a family oriented business model. 17