Executive Summary
The marketing plan under focus in this paper involves the establishment of a chain of coffee shops within Minneapolis. The business venture is entitled Reborn Coffee shop and is licensed under the Minnesota state laws. The primary essence of establishing this business premise is to seek appropriate refreshment option for non-alcoholic individuals. Apart from water, coffee has emerged as one of the most popular drinks globally. An average of 400 billion cups are presumed to be consumed annually across the entire world. Besides coffee being a great refreshment, it is endowed with numerous health and nutritional benefits. It plays a major role in most global cultures, providing a significant occasion for friends, colleagues, and families to connect. Therefore; the positive aspects associated with this non-alcoholic beverage, as well as the target customer’s craving for a high quality coffee is the main reason for establishing this coffee chain within Minneapolis. The firm’s main products will comprise a higher margin gourmet coffee products including the espressos, lattés, and cappuccinos.
The Target Market
The reason for establishing Reborn coffee chain within Minneapolis is because of a vast range of the target customers. This is a region that hosts several college students and various office complexes. The primary target would hence be the professional business people and the entire student populations. These are the groups that have proved to be the heavy consumers of non-alcoholic beverages.The target market is essential due to the subsequent plans to establish appropriate measures aimed at serving high quality coffee in a comfortable and trendy environment ( Chen & Hu, 2010). This will be in line with provision of excellent services and convenient proximities. In this case, the coffee outlets will be strategically located within the walking distances from the colleges, technical schools, and the office complexes. The young office workers and students will be catered for through provision of plenty seating space with a stylish vibe.
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Moreover, the target population will also entail individuals with nutritional or lifestyle diseases such as diabetes, cardiac arrest, some cancer strains, and high blood pressure, among many others. From the statistics, a greater percentage of people residing in this region are probe to these life-threatening diseases due to high rates of obesity. To our advantage, they are often encouraged by health professionals to consume healthy non-alcoholic beverages such as Coffee. Coffee stands out as an appropriate remedy for curbing various ailments.
Competition
The establishment of this Reborn chain of coffee shops in Minneapolis will attract some stiff competitors dealing with similar products. The only way of outshining the competitors will depend on the Company’s overall operational conduct and marketing strategies that are put in place. In effect, it entails the aspect of establishing measures that will make the company stand out as a unique entity compared to other coffee joints. From the analysis, there exist two competing coffee shops within this region. The only thing that will enhance the competitive advantage of Reborn chain of coffee shops will be the act of capitalizing on some of the factors that lack in their competitors’ base. These includes lack of enough parking space or patio seating, and even free Wi-Fi. In this case, incorporation of these basic necessities will enhance the venture’s unique nature and ability to carter for the target customers. The main aim is to establish a destination for meeting and relaxing, while enjoying a cup of coffee with friends. Availability of free Wi-Fi will ensure that business professionals and students can readily communicate their urgent chores as they enjoy a cup of high-quality coffee.
Another aspect that will enhance the competitive edge will be the act of capturing the high-end local coffee market. This can be enhanced by serving non-machine made gourmet coffee at reasonable prices. Apart from the two coffee joints, competition is also posed by Companies dealing with other non-alcoholic beverages such as energy drinks. The Monster energy drinks pose greater competition since students and the greater populations of young generation consider the energy shorts as the most favorite. Luckily, the associated health problems and the prevailing weather conditions favors consumption of coffee drinks over the energy drinks. From all these, it is somewhat clear that incorporation of appropriate marketing strategies will increase the customer base of Reborn Coffee Shops.
The Market Vehicles for Building the Company’s Brand
There are various marketing tools and strategies that will be put in place enhance the brand image of Reborn Chain of Coffee shops. These will include the act of taking into consideration the product offerings, the pricing strategy, Sales, as well as the aspect of Advertisement and Promotion.
The Product Offerings
The brand image of this Company will be highly enhanced by offering a high-quality coffee. Unlike the competitors; the Company will enhance quality by maintaining freshness and sourcing out premium coffee beans, using high-end equipment and machines, and subjecting the staff members to proper training ( De Pelsmacker et.al , 2005). The focus on quality, great customer service, and consistency will enhance establishment of a steady customer base or customer loyalty.
Pricing Strategy
The primary intent of this venture is to focus on the special coffees such as cappuccinos, espresso, mochas, and many others. The main essence is that they have higher profit margins as compared to the regular coffee. For regular coffee, the higher price will be enhanced by serving each cup single-handedly using bodum ( Ponte, 2002). The pricing will be competitive within the utmost market end. It is believed that the target consumers will be willing to pay any substantial price for a quality coffee.
Sales
The counter service will be offered in a professionally designed and cozy interior space. The interior seats will comprise smaller individual tables and longer bench-style furniture for large groupings. On the other hand, exterior seats will encompass weatherproof chairs and tables with the sunshade umbrellas. The main intent is to be open the business from 7:00 AM to 8:30 PM on weekdays, and from 8:30 AM to 9:30 PM on weekends. With regards to the payment methods; cash, debit, and credit payments are all acceptable.
Advertisement and Promotion
The Company’s brand image will be enhanced through the use of effective advertisement and promotion tools. The most significant will encompass utilization of the digital framework. It will entirely comprise the establishment of a comprehensive website, mounting posters on the college billboards, as well as the use of social media frameworks such as Twitter and Facebook.
Conclusion
The future of coffee chain shops in Minneapolis will be revitalized if good marketing plans are put in place. In this case, Reborn coffee chain of shops stands a good chance of posing greater competitive advantage. This is due to the consideration of various significant factors that will steer forward the overall productivity. Moreover, the plan will be actualized by a comprehensive marketing budget that has been established. It was formulated after a thorough research and close scrutiny aimed at enhancing product quality and cost-effectiveness.
References
Chen, P. T., & Hu, H. H. (2010). How determinant attributes of service quality influence customer-perceived value: an empirical investigation of the Australian coffee outlet industry. International Journal of Contemporary Hospitality Management , 22 (4), 535-551.
De Pelsmacker, P., Janssens, W., Sterckx, E., & Mielants, C. (2005). Consumer preferences for the marketing of ethically labelled coffee. International marketing review , 22 (5), 512-530.
Ponte, S. (2002). Thelatte revolution'? Regulation, markets and consumption in the global coffee chain. World development , 30 (7), 1099-1122.
