The following marketing plan for Your Favorite Cup, was created using the template provided by Iowa Central Community College. Every business needs to have a marketing strategy and this includes Your Favorite Cup because Your Favorite Cup has expanded as much as it can in its current market it needs to branch out more.
Five-Year Marketing Plan Your Favorite Cup
Executive Summary
This five-year marketing plan for Your Favorite Cup has been created by its founder to secure additional funding for growth and to inform employees of the company’s status and direction. Although Your Favorite Cup was launched only five yeas ago, the company has experienced greater than anticipated demand for coffee that cater to individual communities. Your
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Each stores its own unique atmosphere. “Coffee shops are the largest growing niche in restaurant business”. (Goldschein, 2011) The original store is in the heart of the city with an urban chic feeling, using a converted warehouse as its backdrop. It provides ample private space to conduct business meetings, high speed WiFi, printing service for a small fee and small catering service to provide refreshments for business meetings. The second store is located on fraternity/sorority row, integrating itself deep into college campus life. It provides a place for college students to conduct schoolwork and group study. It has lightning fast WiFi and an abundance of laptop charging stations. The third store is in deep suburbia, catering to family and home life. This store has a children’s play area and it set up to look like a living room. This store also boasts a variety of child friendly drink options.
Your Favorite Cup is committed to provide a high quality cup of coffee with tailored atmosphere to the community it integrates into. This plan will outline how Your Favorite Cup intends to introduce new products, enter new markets, and integrate newer emerging technology not only to the company but to its customers as well.
Your Favorite Cup’s mission
Your Favorite Cup’s mission is to provide great coffee in a laid back comfortable atmosphere. We want our coffee shops to be more than just a place to get great coffee. We want you to
Second Cup started as a company in 1975 as a shopping mall kiosk that only sold whole bean coffee. Second Cup still lags behind in sales and international representation after all these years. In the Canadian market, however, Second cup has become the largest Canadian owned specialty coffee retailer. Second Cup
This marketing plan will show that the solution to Mr. Coffee’s problem is show that the features and technological improvements, specifically the Wi-Fi option, thermal carafe, and optimal brew temperature feature create a good value and great cup of coffee. The plan will rely heavily on channel and image differentiation. This device will be easier to get than pricey Italian entries and the Mr. Coffee brand will be shown to reestablish brand affinity by keying into pop culture references.
With 11,000 plus coffeehouses worldwide, it is evident that their strategy of being passionate about their customer relation and their devotion to delivering a quality product goes beyond culture and language.
I gathered my information from Dunkin’ Donuts shop on the Third Avenue. Dunkin’ Donuts is one of the largest coffee shop chains in the world. I chose this because it is close to our house. When I first walked into the shop, I heard Chainsmokers’ Closer song. It was also a quiet place sometimes where you could just sit and relax. It is a small place with limited seats. There were only three small tables and a long table. The place is air-conditioned, so it is cold. There is also free Wi-Fi, so the customers will not get bored while they are waiting in line or drinking their coffee. There is also a Baskin-Robbins inside the store, so it is not only a coffee shop but also an ice cream shop. I wanted to interview one of the staff, but they were busy. I ended up interviewing an old woman because she was sitting with me since there were limited seats. She is 71 years old and originally from Mexico. She was 23 years old when she moved here. She is married to a Mexican too and they had three children.
Over the past few years, commercial spaces have become areas for multifunction activities. Along with the availability of gourmet coffee, food, ample seating, and free WIFI bookstore cafes have welcomed a clientele that blends leisure, social and work related activities. In this context, a local popular Barnes and Noble bookstore cafe served as the perfect environment to perform a field observation for this assignment and to explore customer behaviors and reasons for patronizing this particular establishment.
* They offer a unique coffee experience. Second Cup focuses on the atmosphere of their shops and pays a great attention to detail. Unlike their independent counterparts, Second Cup has the resources to create a universal ambiance throughout all of their retail stores. Their stores are very well designed, but have more of an exclusive feel than other coffee shops.
The décor of the stores included earth tones and overstuffed chairs, wood floors and cozy fireplaces that created a home-like feel so that its patrons could linger and relax. La Marzocco machines were put up which added to the distinct taste of the coffee and the Barista that operated the machines stood as a unique attraction. The quasi-Italian lingo included in menu (drinks names and sizes) were very catchy. Starbucks positioned itself as a brand/company offering a “lifestyle product”. The locations were carefully selected where areas with large numbers of wealthy and highly professional workers (“Bobos”) were targeted.
Starbucks will be the first come in your mind when you want to have a cup of coffee. Don’t you feel curious about why is Starbucks so successful? This report explains how Starbucks take advantage in consumer purchase decision making process, how does Starbucks attract customer, how does Starbucks segment its market and new trends in society affect purchasing process.
The selection of a theme is to produce the best cup coffee while the customer waits a minimum time. Starbucks has a great deal of competition in the coffee business. Starbucks is
Keurig´s started approaching venture capital for funds to make their concept to a reality of single cup brewing system and their first target was coffee service market, the B2000 which was launched in 1998.
As a well-established coffee retailer and over 35 years of success, Starbucks is at the maturity stage in the product life cycle. It is in this stage that Starbucks needs to shift gears and focus on marketing program modifications by increasing the number of customers and customer visits (Kotler, 2009, pg. 185). While improving service will attract first-time customers and retain current ones, further marketing modifications will need to be made if it wants to continue to grow. More advertising, distribution, sales promotions, and personal selling are a few of the ways to modify the marketing program.
Starbucks is acclaimed for its superior value proposition in the early 1990’s by creating an experience around the consumption of coffee, a ‘third place’. The brand is positioned to offer the highest quality coffee, close customer intimacy, and warm atmosphere or ambience.
The demand for coffee shops is born from the increased number of individuals seeking coffee brewed outside of the home. This creates a larger market for coffee shops. An increased amount of people are starting their mornings off by purchasing breakfast and a cup of coffee away from home (Tuttle 2014), more people are enjoying gourmet coffee (NCA National Coffee Drinking Trends 2015 Infographic), and younger generations are demanding more coffee and coffee drinks from coffee shops (Tuttle 2014, S&D Coffee and Tea inc. 2014, Statista 2015). Coffee shops must compete with at home coffee, work place coffee, and teas for the caffeinated beverage markets (LN 2015). Demand for coffee within different markets varies, and provides competition for coffee shops. Single cup coffee makers, increasingly qualitative instant coffees, and gourmet beans are all sources of competition that could satisfy the demand for coffee. However, coffee shops are becoming more ingrained in social
The Nespresso story began with a simple but revolutionary idea; ‘The perfect cup of coffee, time after time and cup after cup’. To do so Nespresso pioneered the concept of premium portioned coffee, designed for maximum convenience. The process redefined the way coffee lovers around the world could enjoy their coffee. Key to the vision was a determination for quality, innovation and
Included for discussion are various types of coffee venues such as coffee shops, which usually serve specialty drinks and desserts; espresso bars, which will also serve alcoholic beverages along with the drinks and desserts listed above; cafés, which usually serves specialty drinks, desserts, sandwiches, and soups; and coffeehouses, which is essentially the same thing as a café, except they also host live local gigs and present their customer with my space to sit and socialize with friends. Coffee shops are an interesting type of shop. On one hand, there is not a high profit margin in the sale of coffee and desserts; however, if additional product were to be sold on location, it may make it more profitable to have customers that want to