Andre Mangkuningrat

Jack Smith
Shirley Yu
Stevano Adranacus
Kevin Wijaya

MKTG 605
Pepperdine University Graziadio Business and

MARKETING Management

ANALYSIS PAPER
 Executive Summary

Clif Bar & Company is a US company that operates in organic food and beverages. The company

has been able to establish itself as the major player within the Health and Nutrition Bar Industry

through strategic marketing and unique product offerings. Clif Bars main target market segments

are categorized into two groups: people with healthy and active style, as well as average people

who consumes the products it as meal replacement or snacks. Clif Bars competitor spectrum is

separated into: direct (Nature Valley and PowerBar) and indirect (Mars Inc). Clifs market is

largely driven by per capita disposable income that shifts the demand of premium products, and

the healthy eating index that shows the growth of health-conscious individuals.

Analyzing the company from an internal perspective, Clif Bar successfully placed themselves as

a Green company that produces healthy and organic products in the perception of the consumers,

which are highlighted as their key strengths. Clif also host a series of weaknesses, which are found

to be product recalls and disputes that can and have negatively affected the brand reputation.

Externally, there is a lot of opportunities for more sales growth for Clif Bar & Co. as the US

Healthy Eating Index and Per Capita Disposable Income increases. However, Clif is also subject

to threats from external perspective such as the increasing trend of organic agriculture that may

drive ingredient prices up. Developing a new product and a new market will prove to be a

predicament as the company currently already has a wide spectrum of customer groups, however,

if such initiative is taken successfully it will deliver a long-term and lucrative benefit for the

company.

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 Table of Contents

Company Overview............... 3

History and description

Current situation
Market overview
Marketing Challenge

Industry Analysis 4

Market Supply Structure

Market Drivers
Market Trends
Market Size and Growth

Market Analysis. 6

Market Demographics
Market Behaviors
Market Needs/Values/Decision Process
Market Segmentation

Competitive Analysis 8

SWOT Analysis 10

Recommendation.. 11

Targeted Segment
Marketing Mix Elements

Work Cited 13

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I. COMPANY OVERVIEW

History and Description

Clif Bar & Company is an American based company that produces organic food and beverages.

The company was founded in 1992 by Gary Erickson. In its initial launch, Ericksons energy bar

became an instant success to cyclists and climbers around the distribution area and soon after, the

companys popularity grew even more. Active people and adventurers of all kind grew to like the

bars. Now, Clif Bar can be found in many convenience and grocery stores nationwide (Clif Bar &

Co. Story)

Current Situation

The US Food Bars Market has been showing a steady upward progress since 2011. In year 2011,

the market for food bars in US was $5.669 billion and it grew steadily to $7.781 billion in 2015. It

is projected that the industry will grow to $8.3 billion by the end of 2016 (Market Research). Clif

Bar & Co annual performance in 2015 exceeded the competitors in the health/nutrition bars

industry, as the company was able to deliver an impressive 16.6% growth rate in its $406.9 million

sales with Clif brand alone. Clif bar other brand, Clif Builder, was able to be in the top 10 highest

in the industry with sales of $103 million during the year and a growth in sales of 6.4% (Bamford,

Vince). Clif Bar has not only penetrated the US sector, but also other regions such as Australia,

Japan and several of the European Countries. The company uses multichannel marketing with

places like natural food stores, bike shops, outdoor enthusiasts stores, grocery, convenience and

other retail outlets, such as Target, Wal-Mart and Trader Joes, as some of its medium channels to

the customers (Bloomberg).

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 Market Overview

Demand in this industry is dependent on the customer's tastes and health considerations (Hoovers).

While its competitors only target more general and broader target markets, Clif Bar products,

however, target more than that. Other than the everyday snackers, Clif bar also focuses on the

niche markets, such as the young, active, and adventurous market segment. The company provides

bars for specific groups of people - bars specially made for children, women, long distance

travelers as well as those who suffer from celiac (Clif Bar).

Market Challenge

The challenge that Clif Bar is currently facing is the ability to tackle a barrier to expansion. Since

it has found its success from targeting many different niche of the food markets and has covered a

wide base on the younger generation groups, the same strategy of marketing can be implemented

to its future to form a uniformed growth it had in the past. Yet, finding a new market to pursue is

a predicament, since Clif Bar already established a wide spectrum of variations to its current

consumers. In order to find new segment(s), Clif Bar must find a new consumer base or product,

while still positioning themselves as an organic and environmentally friendly brand.

II. INDUSTRY ANALYSIS

Market Supply Structure

Since Clif Bar products are typically shaped rectangularly and consumed to satisfy hunger, the

company faces competitions from both direct (other similar healthy snack products) and indirect

markets (candy bars). No matter if we are in the grocery store to buy candy bar or in Whole Foods

to get energy bars, Clif bar is still a snack food that serves the purpose of satisfying customers

palettes. Some of the major direct competitors are Nature Valley (General Mills) and PowerBar

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(Post Cereals) and indirect competitor is Mars bar (Mars Inc). More information on the competitors

are provided under Competitive Analysis (Mintel).

Market Drivers

Per Capita Disposable Income

As people have more disposable income, more people will prefer to choose premium food. It

consists of organic foods, which makes Clif part of the premium food category, and thus economy

plays a major key to the demand. Currently the growth has been a positive at 1.6% (compounded

growth from 2012-2017) and is projected to be 1.8% in (2017-2022), which indicates a growing

sales for the company (Per capita).

Healthy Eating Index

As CLIF bar products are targeted to active people, any decrease in the healthy eating index will

also mean a decrease in demand for CLIF bar. Currently, the projected growth of healthy eating

index from 2015-2020 is 0.6 % which means a positive outlook on CLIF bar (Healthy).

Market Trends

Economy in the US

In the last two years, the real GDP growth was shown to be at 2.6% (2015) and 1.5% (2016).

Prediction of the future real GDP growth rate will be 2.1% in 2017, 2.1% in 2018, 2.2% in 2019,

and 2.2% in 2020. Real GDP growth is a tool to analyze a countrys economy performance and a

positive GDP rate indicates a booming economy as well as an increase in purchasing power. Due

to the higher purchasing power of the population, sales of CLIF bar products may also increase as

people have more buying power (Passport).

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 Millennial Population Growth

US census shows that in 2015 population of millennials born 1981-1997 have surpassed the

number of baby boomers born 1946-1964, with the divided populations of 75.4 million and 74.9

million respectively (Fry). It is projected that in 2036 millennials may reach its peak of 81 million

number of population due to incoming young immigrants before declining (Fry).

Market Size and Growth

Snack Food Industry

Currently, the snack food production industry in the US has a revenue of $38 billion, with an

annual growth of 2.9% in 2011-2016, putting the industry in the growth phase of product life cycle.

The prediction of the annual growth in the next 5 years is a positive 0.9% (IBISWorld).

III. MARKET ANALYSIS

Market Demographics

Clif Bars products are mainly targeted to both male and female adults from the age of 18-44 years

old, and also to children and teens from age 5-17. Clif Bars consumers also falls within the higher

education attainment and health conscious demographics, which resulted in the majority of Clif

Bars sales is concentrated within the West Coast region of USA. Furthermore, due to the higher

cost of is ingredients that is sourced from high quality organic ingredients, Clif Bar priced its

products above the competitors average. As such, Clif Bars consumer demographics falls under

the higher disposable income spectrum.

Market Behavior

Psychographically, Clif Bar aims to target its products to customer segment who lives healthy

lifestyle and prefers convenience. Clif Bars target market also falls under the snackers market

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segment that ranges from Average to Heavy Snackers (InfoScout, Clif Bar Consumer Insights).

Interestingly, snackers market segment also consists of the Baby Boomers Generation (Age 51-

69) and Swing Generation (Age 70+) where 57% and 46% of the respective generations falls

within the Average and Super Snackers category that have yet to be explored by Clif Bar. Research

also found that the percentage of sports participants in America has been steadily increasing over

the past five years and will continue to rise to 2022. Correspondingly, the as Millenial populations

age continues to rise in the future, the the retirees participating in sport will also subsequently rise

suggesting a different trend than the current older generations (IBISWorld, 2016). This suggest

that there is a big demand potential for Clif Bar products in the future, reinforcing the need for Clif

Bar to explore this age group segment.

Market Needs/ Value

As the difference between formal mealtime and snacking continues to blur due to the changing

social and economic trends that adds more dynamic towards the current human activities, the

demand for quick and nutritious meal/snacks also continues to increase. Based on the research by

Mintel Academic, occasional snackings are common for US adults - 94% of whom snack at least

once daily, and 15% snack four or more times per day, falling into the category of Super Snackers.

Because of the healthy eating habits practiced both younger generations and aging generations,

many people are drawn to eating organic snacks with added nutrients, including protein and

vitamins. Therefore, quick and healthy meal alternatives currently are becoming one of the needs

in the current market (Beth Day 2015).

Market Decision Process

During the process of purchasing Clif Bars products, the consumers go through several steps of

purchase decision process before finally purchasing the product. First, consumers would decide to

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 look for snack bars that tailor to their needs, which can be categorized into healthy or general.

Marketing and advertising tools such as social media, promotional flyers, and word-of-mouth

plays an important role in building the consumers awareness set (DMN3). Secondly, after the

research and considerations, buyers will finally choose a product to buy. Thirdly, after the product

is consumed, the consumer will achieve certain level of satisfaction level which will lead to repeat

purchase and generation of word-of-mouth.

IV. COMPETITIVE ANALYSIS

Direct Competitors

1. General Mills is a US based food company that was founded in 1886. The company operates

many variety sub brands with all fall under the food-related category. The company sells

products ranging from yogurts and cereals to doughs and pastries. Out of the many sub brands,

General Mills also owns Nature Valley, a granola bar company that rivals CLIF bar. The

company's sales went from $17.9 Billion in 2014 to $17.6 Billion in 2015. There marketing

strategies generally consist of television advertisements and magazine ads. Nature Valleys

target audience is everyday people, specifically commuters. Its products are priced at $2 for 12

pack and $4.19 for 24 pack.

Strengths Domestic market, social media presence, wide variety of products

Weaknesses Competitive markets, future probability, branch can be perceived for nature
enthusiasts.

Opportunities Expansion into other food products, can make people feel like they are
adventurous.

Threats Rising cost of raw materials, growing probability and lower profitability.

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2. PowerBar is a food manufacturing company in America that produces energy bars and other

related products. The company was founded in 1986 by Brian Maxwell and is now a leading

sports nutrition snack company. Snacks from the company are made from simple and fruitful

ingredients. In 2000, the company was sold to Nestle for $375 million and later in 2014, was

acquired by Post Cereals. By the end of 2013, PowerBar was able to generate revenue of nearly

$550 million. Post Cereals is an American company that mainly sells cereals such as Pebbles,

Cinnamon Toast, Honey Bunches of Oats and many more. Post had sales of $4,648.2 (in

millions) in 2015, and sales of $2,411.1 (in millions) in 2016. The target market for Power Bar

consists of the following: Athletes, males ages 18-49, college graduates, heavy internet users,

& people who react and identify with outdoor ads. Power bar is marketed as the superior bar

for athletes because it has the right macro ingredients for physical activity, but also maintains

a high quality flavor. The product is promoted on television on channels such as ESPN,

discovery channel, & national geographic. Its products are priced at $1.79 for 1 bar and $17.88

for 12 bars.

Strength Leader in sport bar segment

Weaknesses Lower awareness among everyday people. Can sometimes be perceived as only
for athletes.

Opportunities Change consumers perceptions about the brand with marketing techniques.

Threats Increasing market share of other companies in nutrition bar market.

Indirect Competitor
Mars Inc. is a consumer goods manufacturer who generates most of their income from food

products sales. The enterprise was founded in 1911 by Franklin Clarence Mars, and has become

one of the largest food manufacturers in the world. Through their multi-branding tactics, Mars Inc.

possess more than 22.5 percent of the U.S. candy bar market share in 2012, or more than $7.5
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 billion in sales. M&Ms is Mars Inc.s largest selling brand, selling $2.3 billion in 2012, or 6.8

percent of total U.S. market share. In 2015, Mars Inc grosses the highest net sales out of all other

candy and bar companies, at $18,480 ( in millions). Their other products includes: Snickers, Twix,

Extra, and Milky Way. Mars Inc, generally targets millennials who are looking to have a sweet,

yet effective energy bar. Because of its strong international brand, Mars Inc is an indirect

competitor for Clif bar, given that some of their products overlap target markets, I.E. the snickers

bar, mars bar, etc. Its products are priced at $1.53 for 1 bar and $4.28 for 6 bars.

Strengths Outsell every other candy bar internationally, variety of products, Well - known
& respected brand name, great taster & packaging.

Weaknesses Unequal promotion for each product, sometimes more expensive chocolates, not
a lot of research and development.

Opportunities Growing interests in dark chocolates, product innovations, financial markets.

Threats Intense competition, cheaper technology, price wars, healthy eating people.

V. SWOT Analysis of Clif Bar

Strengths
Brand:
Positive brand image as a Green company that
produces healthy products and is USDA certified
(Clif Bar & Co.)
Clif Bar & Co. is among the top 3 manufacturer of
nutrition bars with 11% total market share (Mintel
Academic)
Management:
Purpose driven company based on the Five
Aspirations that commits to sustainability and goal
to achieve Zero Waste (Clif Bar & Co.)
Clif Bar & Co. offers a variety of amenities and
flexibility in its offices such as free fitness classes
in the office gym, daycare near its offices, organic
cafeteria, etc. (WSJ)
Product:
Only use and source organic ingredients from
around the world (Clif Bar & Co.)
Diversified product offerings that target specific
target market segments (Mintel Academic)
Weaknesses
Brand:
Product recalls may decrease brand loyalty (FDA)
Publicity about company disputes and scandals may
create negative brand image (CBSNews)
Product:
Negative traditional perception of snack bars as
candies that is not necessarily healthy
Clif Bars products falls within the same awareness
set for the general snack bar products, preventing it
to capture all potential target market
Liability:
Clif Bar & Co. is subject to liability claims if its
products cause harm towards the consumers
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 Opportunities
Social Trend:
Increasing trend of snacking continues to blur the
lines between mealtime and snacking (Mintel
Academic)
US Healthy Eating Index is expected to increase
over the next five years to 2020 (IBISWorld)
About 93% of Baby Boomers Gen and 88% of
Swing Gen falls under between the snacking
category of Super Snackers and Infrequent
Snackers (Mintel Academic)
43% of American population is considered as obese
in 2015 (Passport)
28% of Baby Boomers choose buying organic food
as an integral part of living green (PR Newsware)
Economic Trend:
The GDP of the BRICS countries is predicted to
surpass the G7 within two or three years, as it has
already hit $32.5 trillion and rising (RT)
U.S. per capita disposable income growth is
expected to be tempered at an average annual rate
of 2.5% over the five years to 2020 (IBISWorld)
Threats
Supply Chain:
Unreliable ingredient supplier may supply raw
ingredients that are harmful to health (FDA)
Organic Agriculture Industry:
Increasing trend of organic agriculture may drive
organic ingredient prices up (HBS: Chipotle Case)
USAs narrow investment on portfolio of
agrichemical solutions and lack of funding towards
agricultural research causes slow development of
organic agriculture industry (Reed)
Competition:
Industry landscape of energy and nutrition bars
segment is becoming more competitive (Mintel
Academic
Social Trend:
Consumer perception of healthy food as natural
and unprocessed may reduce Clifs sales
(Passport)

VI. Recommendation

Targeted Segment

After conducting a detailed Marketing Analysis on Clif Bar & Company, Team JAKSS was able

to discover a new market segment that has not been capitalized by the company that is the older

(senior) age group of Baby Boomers to Swing Generation. The aging population requires

additional daily intake of vitamins, minerals and protein in order to maintain the strength of their

muscle and bones. As reported by the Department of Health and Human Service and Agriculture,

40% of adults do not meet the daily nutrition requirement where this requirement is seldom

achieved through diet alone (Neutricals World). Therefore, Clif Bar is recommended to develop a

product to cater the need of this market segment of older generations. Additionally, with the

declining population of baby boomers, there will come a shift in the senior age group in the near

future, as generation X will be the ones that are considered as elders. The shift would help Clif Bar

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to generate long-term growth since generation X are more health-cautious than the current Baby

Boomers generation. The popularity that Clif Bar have with the millennials will play a vital role

in the long run since Millennials are emotional influencers that give significant impact to their

households purchasing decisions, which includes baby boomers and generation Xs.

Marketing Mix

Product: Develop A Snack Bar for the older age group of population (age 51 and above) that

is enriched with essential vitamins, minerals and protein such as Calcium, Phosphorus, Vitamin

C, etc. in order to maintain health and supplement diet.

Price: As the product will contain more ingredients, the cost to make the product will also be

higher. Furthermore, there are currently no competitor ventured into this segment yet, thus we

can use competitive pricing strategy to price the product slightly above the existing healthy

regular snack bars. Using the current regular Clif Bar selling at $1.50 retail price per bar, we

plan to sell this new product at $1.99.

Promotion: As our target market are the older age group who are more likely to conduct doctor

visits more regularly, we will collaborate with health practitioners in clinics, pharmacies and

hospitals to promote our product by offering lucrative gross sale prices and place promotional

ad banners across these channels. Traditional advertising tools such as direct mail and emails

will also be utilized in order to target the Millennial Generation and Generation Xs who are

known to be the buying influencers for the older age group.

Place: The product will be sold in the existing distribution channel of Clif Bar such as

supermarkets and gas stations with addition or expansion of new channel network of

pharmacies, clinics, and hospitals.

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 Work Cited

Overview:

Bamford, Vince. "Snack Bars 2015: Top 10 Best-selling Granola, Breakfast and Nutrition Bars."
BakeryAndSnacks.com. N.p., 29 Mar. 2016. Web. 12 Oct. 2016.

Bloomberg. "Clif Bar & Company: Private Company Information." Bloomberg.com. Bloomberg,
n.d. Web. 12 Oct. 2016.

Clif Bar. "Clif Bar." Product Lists. Clif Bar, n.d. Web. 12 Oct. 2016.

Hoovers. "!industry_name! - Industry Facts and Trends." Snack Foods Manufacturing. N.p., n.d.
Web. 12 Oct. 2016.

Market Research. "Press." Market Research Analysis. N.p., n.d. Web. 12 Oct. 2016.

"The Clif Bar & Company Story." Clif Bar -. N.p., n.d. Web. 12 Oct. 2016.

Industry Analysis:

Fry, Richard. "Millennials Overtake Baby Boomers as America's Largest Generation." Pew
Research Center. N.p., 25 Apr. 2016. Web. 12 Oct. 2016.

"Healthy Eating Index, IBISWorld Business Environment Profiles. IBISWorld, Jan. 2016. Web.
12 Oct. 2016.

IBISWorld Business Environment Profiles. "Pepperdine University." CAS Central

Authentication Service. N.p., n.d. Web. 12 Oct. 2016.

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"Millennials and Organic: A Winning Combination." Yahoo. N.p., 22 Sept. 2016. Web. 12 Oct.
2016.

Mintel. "Pepperdine University." CAS Central Authentication Service. Mintel, n.d. Web. 12 Oct.
2016.

Passport. "Pepperdine University." CAS Central Authentication Service. Euromonitor

International, n.d. Web. 12 Oct. 2016.

"Per Capita Disposable Income." IBISWorld Business Environment Profiles. IBISWorld, Sept.
2016. Web. 12 Oct. 2016.

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Market Analysis:

Clif Bar Consumer Insights and Demographics | InfoScout.co." Infoscout.co. N.p., n.d. Web. 12
Oct. 2016.
Day, Beth. "Fit Club: Tracking Nutrition Bar Trends." Fit Club Tracking Nutrition Bar Trends.
N.p., 1 Apr. 2015. Web. 12 Oct. 2016.

"IBISWorld Business Environment Profiles October 2016 Participation in Sports." IBISWorld,

Oct. 2016. Web.

Lockard, Pamela. "Study: The 3 Most Effective Ways to Reach Baby Boomers." Digital & Direct
Marketing Agency. N.p., 10 Mar. 2015. Web. 12 Oct. 2016.

Smith, Cooper. "Gen X and Baby Boomers Present a Huge Opportunity for Online Retailers."
Business Insider. Business Insider, Inc, 27 Apr. 2015. Web. 12 Oct. 2016.

"United States Nutritional and Cereal Bars Market Report 2015-2019." United States Nutritional
and Cereal Bars Market Report 2015-2019. Research and Markets, 12 June 2015. Web. 12
Oct. 2016.

Competitive Analysis:

"About PowerBar | PowerBar." PowerBar. N.p., 28 Apr. 2016. Web. 12 Oct. 2016.

Brownlbrown@post-dispatch.com314-340-8127, Lisa. "Post Acquiring PowerBar, Musashi

Brands." Stltoday.com. N.p., 09 Oct. 2014. Web. 12 Oct. 2016.

"Building Momentum." Driving Execution for Breakthrough Results Innovation Engine (2013):
93-109. Web.

PowerBar "PowerBar Inc. - Company Profile, Information, Business Description, History,

Background Information on PowerBar Inc." PowerBar Inc. - Company Profile,
Information, Business Description, History, Background Information on PowerBar
Inc. N.p., n.d. Web. 12 Oct. 2016.

"The Evolution of PowerBar." Food and Beverage News, Trends, Ingredient Technologies and
Commodity Markets Analysis. N.p., n.d. Web. 12 Oct. 2016.

"Inside the Transformation of Power Bar." Food Business News. N.p., n.d. Web.

"Nature Valley Brand." Prezi.com. N.p., 13 May 2015. Web. 12 Oct. 2016.

SWOT Nature Valley "Nature Valley Strategic SWOT Analysis - Strengths, Weaknesses,
Opportunities, Threats of Nature Valley. Find 100,000 More Report." Nature Valley
Strategic SWOT Analysis - Strengths, Weaknesses, Opportunities, Threats of Nature
Valley. Find 100,000 More Report. N.p., n.d. Web. 12 Oct. 2016.
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"Post Holdings Annual Report 2015." N.p., n.d. Web.

"Post Holings Annual Report 2015." (n.d.): n. pag. Print.

"PowerBar Shakes Things Up." PowerBar. N.p., 03 June 2016. Web. 12 Oct. 2016.

"Q&A: Inside the Transformation of PowerBar." Food and Beverage News, Trends, Ingredient
Technologies and Commodity Markets Analysis. N.p., n.d. Web. 12 Oct. 2016.

"A Report on Market Potential of Mars Chocolate in India." Scribd. N.p., n.d. Web. 12 Oct. 2016.

Schultz., E.J. "Snickers Surging to Top of Global Candy Race." Advertising Age News RSS. N.p.,
20 Sept. 2012. Web. 12 Oct. 2016.

Schultz., E.J. "Snickers Surging to Top of Global Candy Race." Advertising Age News RSS. N.p.,
20 Sept. 2012. Web. 12 Oct. 2016.

"Target : Expect More. Pay Less." Target : Expect More. Pay Less. N.p., n.d. Web. 12 Oct. 2016.

"2015 Global Top 100 (25-1)." Candy Industry RSS. N.p., n.d. Web. 12 Oct. 2016.

SWOT Analysis:

AP. "Wyclef Jean's Charity Under Scrutiny." CBSNews. CBS Interactive, 19 Jan. 2010. Web. 08
Oct. 2016.

Clif Bar & Co. "Clif Bar - Nutrition for Sustained Energy." Clif Bar. Clif Bar & Co., n.d. Web. 08
Oct. 2016.

Clif Bar & Co. "Clif Bar - Nutrition for Sustained Energy." Clif Bar. Clif Bar & Co., n.d. Web. 08
Oct. 2016.

FDA. "Clif Bar & Company Issues Voluntary Recall of Three Flavors: CLIF BAR Nuts & Seeds
Energy Bars, CLIF BAR Sierra Trail Mix Energy Bars, and CLIF Mojo Mountain Mix
Trail Mix Bars Due to Possible Health Risk." Clif Bar & Company Issues Voluntary Recall
of Three Flavors: CLIF BAR Nuts & Seeds Energy Bars, CLIF BAR Sierra Trail Mix
Energy Bars, and CLIF Mojo Mountain Mix Trail Mix Bars Due to Possible Health Risk.
N.p., 2 June 2016. Web. 08 Oct. 2016.

Mintel Academic. "Snack, Nutrition and Performance Bars - US." Mintel Academic. N.p., May
2016. Web. 08 Oct. 2016.

Mintel Academic. "Snacking Motivations and Attitudes - US." Mintel Academic. N.p., Apr. 2015.
Web. 08 Oct. 2016.
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Nutraceuticals World. "BOOST Nutrition Bar Provides Nutrition To Seniors." Nutraceuticals
World. N.p., 11 June 2013. Web. 12 Oct. 2016.

PR Newsware. "Millennials and Organic: A Winning Combination." Yahoo News. N.p., 22 Sept.
2016. Web. 08 Oct. 2016.

Reed, Kate. "Clif Bar CEO Shares His Company's 'Five Aspirations'" EcoWatch. N.p., 08 Sept.
2016. Web. 08 Oct. 2016.
WSJ. "On-Site Child Care: It's Paying Off at Clif Bar." On-Site Child Care: It's Paying Off at Clif
Bar. N.p., 26 Sept. 2016. Web. 08 Oct. 2016.

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