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Running head: Potential Value Proposition for Crayola LLC 1 Potential Value Proposition for Crayola LLC Sumerta Ochani Department of Business, University of the People Marketing Management (BUS 5112) Professor Frank Billingsley April 14,2021
Potential Value Proposition of Crayola LLC 2 Potential Value Proposition for Crayola LLC Crayola LCC, previously known as the Binney & Smith Company, is an American art supplies manufacturing company that is specifically notorious for its mass production of crayons across the United States. After co-founders Edwin Binney and C. Harold Smith invented the first crayon by “using paraffin wax and nontoxic pigments” (Crayola Crayons), they founded the Binney & Smith Company headquarters in Easton, Pennsylvania, which is about a 10 to 15 minute drive from where I live: Bethlehem, Pennsylvania. While Crayola is known for their crayons, they also mass produce various other art products as well; along with the “[three] billion crayons [they make] each year,” ( Crayola.com ) they also produce “ 600 million Crayola Colored Pencils, 465 million markers, 110 million sticks of chalk, 9 million Silly Putty eggs, and 1.5 million jars of paint” ( Crayola.com ) annually. While the art supply giant is dominant in various retail chains and markets, the company still competes against other large art supply corporations, including but not limited to Roseart, STABILO, Carioca SpA, J S Staedtler, Newell Brands, and ColorIt.com. One reason why Crayola has been so successful in the art supplies market is because of their affordable prices for their high quality products. For example, a standard eight count of crayons costs $0.99, a standard 24 count of crayons costs $3.49, and a standard 96 count of

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