In this article, we will create a hypothetical organization offering product/service of our choice. We will also identify a real potential competitor in the market. We will discuss about organization Mission, Vision, Objective, SWOT Analysis, Problems, Solutions and Strategies to create a successful organization.
ABC Coffee Bar offers large variety of Hot and Cold coffee drinks.
Potential Competitor in the market is Cafe Coffee Day
Mission
ABC Coffee Bar‘s mission is to provide a bar/coffee shop where demand of every individual can meet. We exist to attract and maintain customers. Our services will exceed the expectations of our customers as we ensure 100% quality of our products and services.
Objectives
Develop brand awareness through regular increase of new customers.
Develop an increase in sales while achieving decrease in marketing expenses.A double digit growth rate for each future year.
Reduce the variable costs through efficiency gains.
SWOT Analysis
Opportunities
Special discounts for frequent customers can be offered as that will ultimately increase profits for the company.
Increasing sales opportunities as people become familiar with the advantages of the structured conversation system.
The ability to lower variable costs through efficiency gains.
Physical growth is possible by opening a larger or additional branch at some other location
Threats
Limited items in menu can cause customers to go somewhere else.
A slump in the economy which will decrease discretionary spending.
Strengths
Good and reliable relationships with third party vendors.
Excellent staff who are highly trained and customer attentive resulting in structured conversation system.
Weaknesses
The struggle to continuously add new items in the menu.
Limited financial budget to adopt promotional activities.
Various Problem areas are:
Budget problems for business operations and adoption of promotional activities which will drive customers to the Shop.
Best alternate strategy
Strategy could be to attract customers so they will frequent visit the Shop regularly in order to meet like-minded single people.
Offering Excellent customer service and Maintaining a cost of goods at below 40%.
Implement selected strategies via programs, budgets, and procedures
1. Pricing: The pricing scheme is based on standard industry practices and procedures.
2. Distribution: All goods and services will be distributed from ABC Coffee Bar's retail shop.
3. Promotion: The most successful advertising will be with Weekly Magazines. Also, strategic relationships will be developed with companies such as Fitness Club.
4. Customer is a king policy: The ABC Coffee Bar's policy is to do whatever needs to be done to impress the customer. While this could reduce short-term profits, it will strengthen long-term profitability.
Evaluate implemented strategies
> Feedback: Feedback form will be given to customers to provide rating to the coffee shop.
Ratings will be given for –
- Product quality
- Product quantity
- Product Taste
- Hospitality
- Ambience
> Control – Various control techniques are also used as the purpose of The ABC Coffee Bar s marketing plan is to serve as a guide for the organization.