A business or marketing plan is important factor that needs to be given consideration before doing small business. Marketing plan describes the services and products of the business, classifies target customer and involves strategies through which the company will market their business. A marketing plan usually covers the overall operation one year at a time, although it is continuously changing process that must be examined by analysing industry situation (Kotler & Gertner, 2002).
For this study, Filiz and Smith Coffee shop will focus on Austria market to expand their business. However before started working on their plan, it is important to discover about the latest trend of Austria Coffee market.
About Coffee Shop
Filiz and Smith’s coffee shop is focusing on to become necessity especially for the coffee lovers, they want to offer a dream place where customers can delight with their cup of coffee and feel comfortable with the environment. Filiz and Smith is planning to offer their consumer with best quality coffee within the region that will be complimented with biscuits or pastries along with free fashion and business magazines that customers can enjoy reading at first place.
Objectives
Filiz and Smith’s coffee shop’s objective for the first year of their business are:
• Becoming the best new Coffee bar in Austria from local restaurant dealer
• From first month of their operation, turn in profit ration
• Maintaining 65% of gross margin
Austria Coffee Industry
In 2015, Denis and Mirjana took over the café and in a relatively short time have transformed it from a good suburban café with great coffee to a top drawer inner-city establishment that draws its broad customer base from happy locals to serious coffee aficionados who came for the coffee and stayed for the food, ambience and the buzz. The marketing objectives of the business is to build the brand as a unique inner-city ‘hip’ café with great ambience and gourmet food and real coffee. The owners understand inherently that their marketing mix must satisfy their target market while still meeting their marketing objectives. Strategic plan and objectives
Background & History Hyatt Hotels Corporation is involved in the franchising, management, development and ownership of Hyatt-branded resorts, vacation & residential ownership properties, and hotels internationally. Hyatt was established by Jay Pritzker in 1957 (Hyatt Hotels, 2015). Hyatt Hotels Corporation, once called as Global Hyatt, is a worldwide hospitality organization. The organization is headquartered in Chicago, Illinois and utilizes 46,000 individual employees but now this organization is gaining a major part of its business from their branches in the United Arab Emirates (Hyatt Reports, 2015) as UAE alone accounts for approximately 30% of the entire Hyatt Hotels Corporation system. (HYATT, 2015)
Product: The main product in the menu of a Subway restaurant is the submarine sandwich. Besides this, the menu includes baked goods like muffins, doughnuts and cookies, salads and wraps. There are 6-8 different sauces, 6 bread types and different vegetarian and non - vegetarian options to choose from to make your own SUB sandwich. Some of the items in the menu are variable according to the place and markets but still the signature varieties in the global menu.
SMART marketing objectives for a hospitality and tourism business: From the brief meeting, Mr Ramesh summarized the main objectives of the Village Hotel Bugis will coincide with the Group’s mission statement. (i) To develop an enterprise and operate the businesses by serving with grace and love, integrity and honesty (ii) To inspire better lives to all stakeholders using the core values of BUILD (iii) To market VHB is a destination of pleasure and business with its unique characteristics of its locality. 2. Marketing plan development for a hospitality organization: Marketinng audit ( PEST ): PEST analysis is a simple widely used tool that helps to analyze the Political, Economic, Social- cultural, Technological changes in the business environment. Let’s see how The Village Hotel uses PEST analysis to their business.
Menu Burger king believed that its strength was in its menu which targeted only a certain section of consumers and realised that it had to make changes to be able to compete with its close competitors. It introduced 21 new and improved menu items consisting of mango and strawberry-banana smoothies, “Garden Fresh” salads, chicken wraps, mocha, crispy chicken strips, caramel frappes the expanded menu took cues from both McDonald’s and Starbucks. Earlier burgers kings target was young men with an appetite but with the changes in the menu it was able to attract a larger segment of the population include women, families and the health conscious. Burger king believe that its focus on their food will provide us the opportunity to meaningfully increase same store sales and margins. Marketing and communication Burger King 's main aims and objectives are to serve its customers with the bests meals and services a fast food company could possibly provide.
Firstly, the Boston Consulting Group (BCG) matrix that concentrate the market position of different products. Secondly, the experience curve and the Profit Impact of Market Strategies model which identified a number of strategic variables. Furthermore, competitive advantages model (Porter, 1985) which focus on five different forces in environment of organization, but suit with only stable market. Generic strategy was developed strategies under this school, especially it can identify position in the market. Advantages: -Provide content in a systematic way to the existing way of looking at strategy -Particularly useful in early stage of strategy development, when date is analyzed -This school emphasis on analysis and calculation can be a very strong support to the strategy development process -This strategy suit with big businesses or organization which have ability for operate effective market research in the environment
Create the Value: Market Segmentation Analysis and a Value Proposition for New Retail Brand Dunkin' Donuts Kidd Milky Beverages Brief Description of the New DD Retail Brand - Dunkin' Donuts KiDD Milky Beverages Dunkin Donuts has pursued a policy since 2000's to be more than ' just a donut store, the company started putting more emphasis on growing its coffee business (Champagne, Iezzi, 2014). Specially since 2006, DD's proved its brewed coffee, espresso, cappuccino and latte options to the 'fancy' coffee drinkers and today, more than 3 million customers per day visit 11,300 Dunkin Donuts restaurants in nationwide and 36 other countries (Dunkin' Donuts Press Kits, 2015). The brand's slogan "America runs on Dunkin" is now evolving to "Kids
Introduction Every business organization is using a marketing concept which is used as a tool to identify customer’s needs. And further try to meet them by making right decisions in line with customer’s needs. In line with meeting customer’s needs the ultimate goal of every business is to gain profit. That’s why they make use of different marketing strategies to meet not only the need of the customer but as well as the goal of the company. We know for a fact that marketing strategies comprises everything from developing a product, to introducing it to the market, to selling and improving it as the need of the target market changes.
Howard is well aware that develop a business successfully involves not only make use of impactful marketing strategy but also emphasis on manage an efficient operation management system as well. This is Howard long-term vision and he aims to lead a small coffee shop to walk toward around the world. It shows Howard possesses the drive traits, is a leader who has a relatively high desire for achievement attitude in leading his business. Based on the efficiency business plan and useful organization functional plan, it help Starbucks create a nearly monopoly in the coffee industry.
Starbucks was founded in 1971. They have 18.850 stores in more than 40 countries which makes them the first coffee specialty retailer in the world. They operate most of their stores having only 50 franchises (as of 2017) as to keep strict control over quality. The success of Starbucks is based on their unique value proposition. They offer customer the finest coffee produced by themselves, with strong commitment on creating a global social impact, served in stores that promote a welcoming and warmth sphere where everyone can feel “like home”.
Nestle is considered one of the largest food and beverage company worldwide. Nestle first opened its factory in 1866 in New Zealand and have successfully grow and recognize all over the world. Today, nestle own branches almost in every country in Europe, South America, Asia and other continents. The products that they produce are coffee, bottled water, milk products, tea, breakfast cereals, biscuits, baby food and many more. Looking at their annual report, their revenues clearly state that they are the most preferred food and beverage.
Consumer behavior towards Nike products Marketing is collaborating the value of a product, service or brand to customers, as a driving force to promote or sell that product, service or brand. Marketing procedures and skills embrace selecting target markets by carrying out a market analysis and market segmentation, as well as taking into account the consumer behavior and advertising a products value to customers. Marketing is the utmost vital aspect of developing and enlarging your business, and is a speculation that will recompense for itself over and over again. The term “marketing mix,” was first devised by Neil Borden, the president of the AMA (American Marketing Association) in 1953.
Introduction The following strategic analysis report was carried out for Giant Hypermarket in Malaysia. Giant Hypermarket also popularly known as “Giant” is a subsidiary of Dairy Farm International. The objectives of the study is to advise the Board of Directors into a possibility to revisit and redesign the current business strategy based on the blue ocean strategy (Kim and Mauborgne, 2005) to provide value based innovation via cost reduction with increased value for buyers and to ensure sustainable business operation in Malaysia. Additionally, the analysis also includes the possibility of developing a global strategy for Giant.
They sell the finest coffee from all over the world. It also has a book corner in the left hand side of the shop where we can buy books. They make very good coffee as well. This place is an ideal place for students and employees to release stress. As I made my way through the transparent glass door, a blanket of warm air hit me and the rich aroma of coffee which was delectable.
Strategic marketing is a broad and practical subject which included the concept of marketing subjects of previous semesters such as business marketing. The study of this subject has contributed to marketing knowledge in many ways, as well as it has strengthened my skills in application of marketing concepts. My knowledge was increased that I was able to develop a complete strategic marketing plan of not only on the part of marketing analysis or strategy of a product or service, but also the whole corporate plan. My skills and capabilities that were developed and integrated during lectures and tutorials include the analytical skills, coordination skills, presentation skills, organization skills, etc.