Unit 1 Assignment Marketing

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Marketing

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Feb 20, 2024

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MT219: Marketing Kaiv Abreu Morales Purdue Global Unit 2 Assignment Barbara O’Malley December 16, 2023

Unit 2 Assignment: The Marketing Strategy for Lee’s Coffee Shop Lee is redesigning her coffee shop and is looking for assistance with how to create a mission statement and marketing plan to increase sales and customers in her shop. She is looking for a mission statement that would indicate the environment she is creating for her customers. She is looking for a warm and inviting shop where customers can feel comfortable talking, sitting and socializing without feeling rushed or unwelcome. Lee understands that she wouldn’t be able to compete with large chains such as Starbucks or Dutch Bros with coffee output however she can compete in her own way by producing a name for herself by changing her ambiance. This document will go over the proceedings of creating a mission statement and justify how her changes will increase her cometitive advantage in the market with the use of a marketing plan. Part 1 Mission Statement: Currently Lee’s coffee shop has a product - based Mission statement which is “We sell coffee”. Although this mission statement is straight to the point it doesn’t indicate its mission to inspire customers to visit her shop. While researching some similar coffee shop mission statements There was 2 which stood out. “It’s a mission to make a massive difference one cup at a time” which is from Dutch Bro’s or “Our mission is to help people fall in love with great coffee” Which is by Peets Coffee, you see an indication that the mission statement is more customer based. While creating a mission statement I applied what Lee is looking to provide to her customers. She indicated she is aiming to have a relaxed environment where her customers don’t feel rushed or judged. She is creating a sit-in coffee shop experience with the goal of creating the

most relaxed customer visit. I settled on “Our Mission is to Provide a warm and inviting atmosphere for customers to feel welcome and relaxed”. Part 2: Situation Analysis Since Lee is aiming to create a warm and inviting environment for her customers it would help to see how her customers view her location. Do they find themselves relaxing when they enter her shop? Is she providing the type of customer service that would make someone feel welcome? And is she meeting the expectations of all customers, even those who do not want to sit and stay but would prefer a coffee to go? In this case Lee would be able to create a Survey for her members where she can ask the above questions and more to see if her shop is aligning with her goals. A good way to reach more members would be to create an incentive for customers to want to take the survey. Lee will be offering free cookies with every turned in survey. Although she might be losing money to make and give away the cookies over time, she is establishing customer relationships and learning beneficial information about how customers view her shop. When reviewing the Demographics in Fayetteville NC where Lee has her shop it can be determined that the Median Age of the area is 22 (Bureau, 2023) . This indicates that younger people would be the primary customer base. The younger generation is known for appreciating smaller businesses and has also created a boom in the coffee industry so that it beneficial for Lees Coffee Shop. While most customers in this age group would be working the area has an unemployment rate which is high at 65%, which is higher than the national average. Due to this high rate, she can use her shop to help the local community with employment drives where foot traffic would increase and more of the community would know what she is doing to benefit those around her.

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Technology plays a big impact on how well a business will stay afloat with technology comes social media. If Lee’s coffee shop is going to stay competitive Lee will need to create a social media presence for her shop. If she were to market to potential and existing customers on platforms like Instagram or Facebook, she would be able to increase foot traffic and customer engagement which can lead to recurring customers. Lee is competing with multimillion dollar coffee businesses daily. Companies like Starbucks have promotional offers, new drinks to influence new customers and social media presences that influence customers to stay loyal. There are also smaller coffee shops which are trying to stay afloat in today's cometitive market. She will need to distinguish herself from her competitors and having technological advances like Wi-Fi or in house computers, being active on social media, and even providing quick pay solutions like apple or Samsung pay can allow her to stay afloat with the competition. Another important consideration lee’s coffee shop needs to consider is competitive advantage. How will they compete with large chains and other similar coffee shops in her area? She not only needs a competitive advantage, but she also needs it to be sustainable. It needs to stand against time and copying competitors to make her stand out. Currently the younger generations are all about community service, the environment, and are more interested in providing business to smaller companies. Lee would be wise to take this into consideration and market towards those needs since her local demographics show she is surrounded by younger potential customers. I would advise her to create community engaging events or volunteer work for veterans, and those in need in her area to show her clientele how she stands apart from competitors who simply look for profit. She would also be able to purchase furniture that has been produces with sustainably resourced products, she can use recycled products for her to go products and she can also help the local community by purchasing her cups, plates and other utensils from local small

businesses and promoting that she is helping boost the local economy and community. Here her sustainable competitive advantage would be that she is a small business which promotes community, helps the environment, and appreciates her customer basis instead of just worrying about making money which would appeal to her local demographics. Part 3: Marketing Objectives Since Lee now has a new mission statement and understands what her competitive advantage is she would need to create objectives she would like to meet as part of her marketing plan. For Lee the objective statement I have developed is; “To increase sales by 10% between the period of January 2024 to June 2024”. Along with the objectives Lee needs to establish S.M.A.R.T. goals to be able to achieve her objective. The first goal is to be realistic. She will need to consider is the 10% increase in sales going to be a realistic venture compared to last year's sales? How is she going to incentivize new customers or have her existing customers come more often? Also is the timer period providing enough time to increase sales? And if so how will she efficiently use her time to create all the changes she is looking forward to? These are all topics we would discuss to confirm if her objective is possible within the time frame. Part 4: Marketing Strategy We were able to determine lees target Market strategy by reviewing her local demographics and determining which market segments would be most beneficial to appeal towards. Although Marketing simply to those who are between 20-30 would be easiest since that ’s the majority of the population in her surrounding area, she has the possibility to benefit from those who are veterans since they are also a major part of her demographics. Since she has 2 possible market

segments, we will be concentrating on appealing to both to increase her potential customer outreach. Lees coffee shop needs to also consider the four strategies of growth which include market penetration, market development, product development and diversification. Currently Lee is concentrating on market development. She is aiming to attract new customers to her shop to appreciate the experience and buy her goods. She is not interested in product development or producing a new product for her already existing clientele. Nor is she looking for diversification, where she would introduce new products to new markets since, she is working on her existing products, just revamping her store to increase customer foot traffic even if it's an existing customer. She can consider market penetration where she is aiming to reach existing customers to increase their market share in other words, she is restyling her shop to appeal to a more relaxed customer basis and changing her mission statement to meet the needs of her existing customers which would also appeal to new customers. The marking mix strategy which we would be implementing would include revamping lees coffee shop mugs and to go cups to be more environmentally friendly, she would be aiming to incentivize customers to stay in the shop for longer periods instead of taking the coffee to go, she would be applying competitive pricing compared to other local coffee shops however still slightly higher then large chain competitors since she is not high scale enough to afford huge discounts on bulk pricing, the last portion of the marketing mux would be to promote her new community outreach programs which would incentivize more foot traffic into her shop during programs and community events held in her shop or new her shop. Part 5: Implementation

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To be able to implement the changes using the marketing plan developed we would need to manage the process by which we take steps to change. We would need to be extremely detailed when providing job duties and making sure we apply the correct duties to the correct person. We would be able to have the store manager in charge of overseeing who received the free cookies and keeping records of the surveys while the cashier would be the one to offer the survey in a kind and informative manner to influence more surveys. We would also respect the timelines given by making sure we receive enough surveys in advance to decide on what changes should be made to the shop, once we have that information, we would need to find the resources to make changes and we would need to order products to come in time. All these changes need to take place before June 6 th since we need to give time for the purchase possibilities to go up. Part 6: Evaluation To be able to confirm everything is happening according to the marketing plan and within the expected time frame we would need to evaluate the status of changes being implemented using a marketing audit. A marketing audit is a control device which we would evaluate objectives periodically to see their status and their productivity or efficiency. If we note there is an objective which is lacking while others are excelling, we can reallocate our resources to assisting the other objective and ultimately reaching our goals productively. Conclusion: Lee’s coffee shop knew it needed assistance with increasing her sales and introducing new customers to her shop while also inspiring them to stay in her shop for a more relaxed experience. Lee appreciates helping her community and wanted to introduce new and innovative ideas to increase her influence in her community which will in turn increase her customer foot

traffic. We assisted Lee with creating a mission statement and reviewing her demographics to determine who she should be marketing towards. Once we did that, we used the Marketing strategy to create a plan, find methods of implementation and create a plan to continuously evaluate how the plan is working. If Lee is consistent and continues on her plan of revamping her coffee shop, she will have a competitive advantage over large and smaller local coffee shops and she will increase her profits through the years.

References Bureau, U. S. C. (2023, March 10). Business and economy . Census.gov. https://www.census.gov/topics/business-economy.html

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Unit 1 Assignment Marketing

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