Assignment –——– 2 pages
This week you must select a topic for the marketing plan, and thereafter, all related assignments (the draft in Week 4 and the final marketing plan in Week 8) must be on that same topic. You may not change your marketing plan topic without approval from your instructor.
Your topic must be a new product (a good or service). Because this is an applied project and not a research paper, please be creative and do not select a new product for a large brand, such as Starbucks, Apple, etc. If you are interested in coffee, for example, consider your bistro as your topic and then use information from companies like Starbucks or Seattle’s Best Coffee for ideas and competitive research as you work on your project.
The deliverable for Week 1 is to write a two-page description of your product, including the following.
Information about ownership and company structure
A description of the product
Marketing Plan for Beanery Bistro
1.0 Introduction
Beanery Bistro is a barista that offers coffee, breakfast, and lunch. The company provides dine-in and takeaway facilities. Here the customer comes for the good coffee as the taste of the coffee is good and the customer like the quality of the coffee as well.
2.0 Information related to Company ownership and organizational structure
Beanery Bistro is a small barista as compared to the other famous coffees place like start buck. Here there are 10-12 members who run the barista and provide the service to the customer. The company is established in the year 2005 and has the facilities like car parking with outside sitting etc. The customer here enjoys the coffee and the food as well. The price of the coffee is reasonable and is a comfortable place to enjoy good food and coffee.
2.1 Description of the services.
The barista offers good services and profit to the customer but the company needs to add new services to the barista so that it can attract more customers. The barista needs to add some artistic factors in the barista where after offering the coffee from the shop the customer is provided with a paintbrush and invited to pick the cup and draw the design or write something which they like and the coffee will be served to them on that cup if they wish to (Vegro & de Almeida, 2020, p.5). The other service that the barista can add is to provide loyalty to the customer that on every tenth coffee, one coffee should be free to the registered person.
2.2 Mission statement
The mission of the company is to bring out the art from the customer and they can relax here by doing some artistic work. It helps them to bring out their creativity as well. More customer will also be generated if the company provide loyalty points to the customer and the growth can take place.
2.3 Marketing goals
The marketing goal of the company is to reach out to the larger audiences and communicate to the customer related to the special services they provide which other brands like stark buck did not offer such new services. The marketing goal is to create brand awareness of the company and its goods and services and increase the value of the company.
2.4 Potential customer
A coffee place is a place where the customer is not limited to a certain age. Here customer comes from every age to enjoy the coffee. The potential customers of the barista are the coffee nerds who like coffee very much, artists, influencers, college-goer students, readers, etc. (Maciejewski, Mokrysz & Wróblewski, 2019, p.6). Here the customer comes to relax and spend some time with friends and family. So the barista is providing these services to engage them as well as help to build more customers in the market.
3.0 Industry Overview
From the industry view, it can be said that coffee is consumed by the majority portion of people. The company that is the competitor in the market is the star buck which covered the almost crowd of coffee lovers. The industry of coffee is monopolistic as here many companies are competing with each other but the selling product is different from each other. So the company needs to bring so innovative ideas to the market to attract more customers in the market. As it can be seen that the start buck is capturing the most of the industry with its products so the company needs to focus on various ideas.
4.0 Developing a marketing plan using the 4Ps of the marketing mix
The 4Ps of the marketing mix of Beanery Bistro are stated below-
Product– The product should be different from the other competitors. The taste of the coffee is liked by the customer so the company needs to focus on the service part to attract more customers. The company needs to add services like delivering coffee where the customer can make the coffee by themselves by adding the product. The delivery should be done within 30 minutes within the boundary.
Place– The customer should be provided with a comfortable place where the various facilities should be there so that everyone can get their privacy to talk without any disturbance (Lahtinen, Dietrich, & Rundle-Thiele, 2020, p.7). The barista can add a section where people can book properly and can do so event there as well.
Price – The price of the product should be reasonable so that it can be affordable to any class people and there should be coffee at various processes according to the taste. The discount should be added to the order above a certain limit which attracts more customers.
Promotion– The actual promotion is the customer and if the customer is happy the shop gets more promoted. Social media can be used for promotion without any investment as well (Karim et al. 2021, p.235).
5.0 Conclusion
It can be concluded that if Beanery Bistro provides good services and the new services are added then it will help in the growth of the company. Here the customer is mainly focused and if they like the services then they will come again. The coffee barista needs good quality products and services to attract customers. So the company needs to apply the 4Ps in developing plans which will help in the growth of the company.
References
Karim, R., Latip, N. A., Marzuki, A., Haider, S., Nelofar, M., & Muhammad, F. (2021). The Impact of 4Ps Marketing Mix in Tourism Development in the Mountain Areas: A Case Study. International Journal of Economics & Business Administration (IJEBA), 9(2), 231-245.
Lahtinen, V., Dietrich, T., & Rundle-Thiele, S. (2020). Long live the marketing mix. Testing the effectiveness of the commercial marketing mix in a social marketing context. Journal of Social Marketing.
Maciejewski, G., Mokrysz, S., & Wróblewski, Ł. (2019). Segmentation of coffee consumers using sustainable values: Cluster analysis on the Polish coffee market. Sustainability, 11(3), 613.
Vegro, C. L. R., & de Almeida, L. F. (2020). Global coffee market: Socio-economic and cultural dynamics. In Coffee consumption and industry strategies in Brazil (pp. 3-19). Woodhead Publishing.
