Activity: Applying What We’ve Learned So Far (Scenario 1)
As a wrap-up of this module, read the hypothetical scenario below and answer the following questions.
Scenario 1: Humble Ice cream
A local ice cream company makes delicious ice creams using fresh local ingredients and very few preservatives. These ice creams are made in small quantities, sold in commonly used Mason-type glass jars (which can be returned for a deposit), and available only at the ice cream store or at local merchants who have a strong, loyal community following within the city.
The ice cream company is named Humble, so that consumers would associate it with simplicity and virtue. Humble only sells its ice cream at its own locations and in a limited number of shops that have a similar following because of the consumer’s perception of these stores being suppliers of quality, wholesome local products.
In addition, many of the ice cream flavours are named after an ingredient or product made by local well-known merchants and are used with permission by virtue of license agreements. For example, the coffee-flavoured ice cream “Java Jungle” is named after a local coffee shop of the same name that is cherished by consumers, despite its prices being significantly higher than any other brand of coffee available in the city. The apple-flavoured ice cream is called “Chester Red” in homage to a local popular organic apple grower who produces a Chester Red apple.
Humble ice cream company has done exceedingly well and, within a few months, has gone from being open three nights a week in one tiny location to now being open seven days a week in two locations. The ice cream’s price is at least 25 percent higher than the price of its local competitors’ ice cream. Despite this price difference, Humble’s stores are always busy.
Grading method: Highest grade