...Stratford Waterfront Development (New Beanz) Sell Beanz to the Highest Bidder Focus on a Management Buyout (Gradual ownership transfer method) Work with an Angel Investor (150,000 for 50% ownership) Considering their commitment to producing fresh and consistent homemade food, loyal staff base and a strong sense of community, to ensure its continued growth and presence Which option(s) should they pursue to address the problem(s) you’ve identified? Please be sure your recommendation(s) explicitly address the problem(s) you’ve identified and are based on your strategic analyses of the situation. How should Doug and Lori go about implementing the recommended strategy(s)? Discuss how the plan you’ve suggested is specific, measurable, actionable, realistic, and timely. Lori and Doug opened Beanz, a cafe in downtown Charlottetown that focused on offering homemade food and coffee beverages, in 1996. During the next 16 years, they saw 11 coffee shops open in the area, as well as many restaurants close, or change ownership. One of these, was Starbucks. Although they didn't see a change in sales because of it, they wondered if they should consider Starbucks a competitor. Areas of opportunity for Beanz include communicating the business's value propositions (health conscious, high quality, homemade) through marketing efforts, creatively utilizing the cafe space, and expanding the catering side of the business. One threat for Beanz is that one of their biggest customer...
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...The role of marketing Philosophy behind the marketing efforts of modern businesses is that the company should satisfy the needs of their customers and produce products and services to satisfy those needs. This way, the customers is at the centre of the business. Production concept – The production concept is where a business focuses on creating economies of scale in production and distribution of a product or service. This assumes that customers will purchase lower-priced items, so demand is driven by availability. Examples of this practice can be found in construction suppliers, where construction firms will purchase cheaper building materials to increase their profit margins. Sales concept – this is commonly known as ‘the hard sell’, where a product or service is produced and personal selling and other high-pressure selling techniques are used to convince customers to part with their money. Marketing concept - unlike the alternatives above, the customer at the centre of all decisions before the product or service is developed. This can make business more efficient, by focusing investment on products that customers will need and use rather than investing in products that customers may not buy. SMART objectives * Specific – the objective must be clearly stated and focused * Measureable – in order for the business to see how it is performing against its objectives, it needs to be able to quantify its performance * Achievable – for an objective to be useful...
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...InnovaTIon Study prepared, June 2013 by Incite League TabLe 2013 Innovation and execution for consumer brands Incite | Innovation League Table 01 Introduction Innovation matters for any brand. It’s the number one influencer of consumer purchasing behaviour and it has a big impact on sales potential. But it’s wrong to assume that only shiny technology products attract consumer plaudits for innovation. Read on to learn which brands are seen as the most innovative in FMCG, Retail, Finance, Automotive, Technology and Charity, as well as how you can influence how consumers feel about the innovation your brand displays – without relying on products. Incite, the market research consultancy, has produced its Innovation League Table for 2013, revealing who’s got the right formula, as well as how brands can apply new strategies to excel at innovation. Incite surveyed 3,000 UK consumers both unprompted and then based on over 500 popular brands to rank their perceptions of the UK’s most innovative brands. For the first time since its inception, the study also measured the degree of perceived innovation in marketing communications to investigate consumer attitudes towards what makes a brand innovative and how this relates to its overall perception. We know that marketers have the power to drive innovation, but in order to woo consumers, brands need to understand the underlying factors that are perceived to drive innovation in order to apply it to their brand. Is it about...
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...In recent times, marketing has been looking to the internet as an as of yet improperly utilized tool. More and more businesses are becoming interested in the use of social media not only to market, but also to gain a better connection with their consumers. What is the reason for this? What advantages do social media hold that businesses are beginning to find value in? Perhaps it is the ease of access, or the relatively low cost compared to traditional marketing avenues. What kind of value can be found in social media? It is exceedingly popular among teenagers and young adults, and has a good userbase of adults as well. This by itself is a strength; a huge number of people use social media every day. Additionally, social media sites are very easy to join and use. Most offer free membership, only requiring the user to have an internet connection. This gives it an advantage over television marketing campaigns, as there’s not a requirement that the people intended to see an advertisement to own equipment, or pay for a monthly subscription to a service. Additionally, consumers can use public computers to get the same effect, whether it’s in a public library, or a school computer lab. Most importantly, however, is the social bleed-through that can be observed. Social media is not something done alone at home. It’s done everywhere; in grocery stores, barber shops, on-the-go. This also lends to the mobility of social media, which in turn allows for social media marketing to become...
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...Viral marketing, viral advertising, referring to marketing techniques that use pre-existing social networking services and other technologies to try to produce increases in brand awareness or to achieve other marketing objectives (such as product sales) through self-replicating viral processes, analogous to the spread of viruses or computer viruses (cf. Internet memes and memetics). It can be delivered by word of mouth or enhanced by the network effects of the Internet and mobile networks.[1] Viral advertising is personal and, while coming from an identified sponsor, it does not mean businesses pay for its distribution.[2] Most of the well-known viral ads circulating online are ads paid by a sponsor company, launched either on their own platform (company webpage or social media profile) or on social media websites such as YouTube.[3] Consumers receive the page link from a social media network or copy the entire ad from a website and pass it along through e-mail or posting it on a blog, webpage or social media profile. Viral marketing may take the form of video clips, interactive Flash games, advergames, ebooks, brandable software, images, text messages, email messages, or web pages. The most commonly utilized transmission vehicles for viral messages include: pass-along based, incentive based, trendy based, and undercover based. However, the creative nature of viral marketing enables an "endless amount of potential forms and vehicles the messages can utilize for transmission",...
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