M4A2 Marketing Plan: Consumer and Business Markets
Running head: MARKETING PLAN: COFFEE SHOP 0
M2A2 Marketing Plan: Find Your Marketing Template
Product/Service: COFFEE SHOP
Student’s Name
BUS 351 - Marketing Concepts and Application
Student’s Address
Student’s Telephone Number
Student’s Email Address
Instructor’s Name
Executive Summary 3
Product/Service 4
Purpose 4
Audience 4
Product Life Cycle 4
Marketing Environment 4
Competitive Forces 4
Economic Forces 4
Political Forces 4
Legal Forces 4
Technological Forces 4
Sociocultural Forces 4
Marketing Objectives 4
Marketing Management 4
Marketing Mix (4 Ps) / (7 Ps) 4
Product 4
Price 4
Place 4
Promotion 4
Marketing Segmentation 4
Target Market 1 4
Target Market 2 4
SWOT Analysis 4
Strengths 4
Weaknesses 4
Opportunities 4
Threats 4
Competitor Analysis 4
Advertising Strategy 4
Budget 4
References 4
TRINTEX COFFEE PRODUCTION
Executive Summary
This is a new company that deals with the sale of coffee products and sandwiches for breakfast in the morning. This paper is portrays the marketing plan that aims at promoting the sale of coffee at Trintex coffee company (De Pelsmacker, Driesen & Rayp, 2015).
PRODUCT/SERVICE
The product for sale in this case is the sale of coffee products. The varieties of coffee products including hot and cold drinks and chocolate is combine with snacks and sandwiches for sale especially in the morning.
The first reason why my coffee products example exhibits effective influences of the 4 Ps/7 Ps is that the products are designed to satisfy consumer needs. Another reason is that I offer discounts which make the products affordable to consumers. Given the fact that the marketing mix has an effective influence on my coffee products, there is need to adjust the current marketing so as to increase sales and also to increase product awareness to the consumers. Since the marketing mix has an ineffective influence on my coffee products, my first suggestion to make it effective is to determine client needs. This is because this will help in creating a high demand for the coffee products.
My second suggestion to make my coffee products effective is ensuring effective communication with clients. This is because effective communication will lead to feedback which will then be used to improve the product. The current PLC stage for my coffee product is growth stage. The first reason as to this these coffee products are at this stage is that the market has accepted my coffee products. Another reason as to this these coffee products are at this stage is that the sales of my coffee products is increasing. The growth stage is normally characterized through a strong boom in sales and income, and due to the fact the company can begin to advantage from economies of scale in production, the profit margins, in addition to the general amount of profit, will boom.
For the coffee products to advance to maturity stage, I recommend quality improvement and rebranding of the coffee products. Should it be that the products are declining, they should be saved. This is because saving the product will help in retaining and improving the market share (extension strategy). Such practice as this is normally used to expand the piece of the overall industry for a given item or administration and subsequently keep it in the development period of the showcasing item lifecycle as opposed to going into decay. Augmentation procedures incorporate rebranding, value reducing and looking for new markets. Rebranding is the making of another search and feel for a built up item keeping in mind the end goal to separate the item from its rivals. At its least difficult, rebranding may comprise of making refreshed bundling to change the view of the item.
PRODUCT LIFE CYCLE
Coffee products are known to be bought in the morning and in the evening of every day. Hence sale of coffee is continuous and the business will continue for a long time in the market. However new coffee brands have to be introduced to keep the pace for competency and competition with the various coffees selling companies (De Pelsmacker, Driesen & Rayp, 2015).
AUDIENCE
The target market is big for coffee shop. Mostly workers in the morning hours take coffee products before going to work. This includes professional workers and other workers working in various fields.
PRICE
The price of a coffee mug goes for $5. Black coffee is sold at $7 while chocolate will sell at $ 9. The snacks will be sold depending on the quality and size but the price will be ranging from $5 to $15.
BUSINESS AND LEGAL SYSTEM INSTRUCTION
This includes the legal rules surrounding the business. Various legal terms set by the government must be identified and kept to avoid causing conflict. Moreover, internal business rules and ethical codes must be developed to regulate employee behavior.
MARKETING OBJECTIVES
The aim of this plan is to develop a good business plan that will oversee the development and launching of the coffee business. We are dedicated to create a promotional strategy that will enable the sale of coffee products (De Pelsmacker, Driesen & Rayp, 2015).
References:
De Pelsmacker, P., Driesen, L., & Rayp, G. (2015). Do consumers care about ethics? Willingness to pay for fair‐trade coffee. Journal of consumer affairs, 39(2), 363-385.
Cohen, W. A. (2014). The marketing plan. John Wiley & Sons.
