Scribd Logo
Upload

Welcome to Scribd!

  • 142 views

    Assignment 1 PDF

    Uploaded by

    Nichole Tumulak
    The document provides advice to a friend considering opening a coffee shop near their college campus. It notes that many college students consume caffeine while studying and working on projects, making a coffee shop near campus a potentially profitable business. The document recommends considering the 4 P's of marketing - product, promotion, place, and price - to successfully launch the coffee shop, including promoting through social media, choosing an ideal location, and setting an appropriate price point.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Assignment 1 PDF

    Uploaded by

    Nichole Tumulak
    142 views4 pages
    The document provides advice to a friend considering opening a coffee shop near their college campus. It notes that many college students consume caffeine while studying and working on projects, making a coffee shop near campus a potentially profitable business. The document recommends considering the 4 P's of marketing - product, promotion, place, and price - to successfully launch the coffee shop, including promoting through social media, choosing an ideal location, and setting an appropriate price point.

    Original Title

    Assignment 1 (PDF)

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document provides advice to a friend considering opening a coffee shop near their college campus. It notes that many college students consume caffeine while studying and working on projects, making a coffee shop near campus a potentially profitable business. The document recommends considering the 4 P's of marketing - product, promotion, place, and price - to successfully launch the coffee shop, including promoting through social media, choosing an ideal location, and setting an appropriate price point.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    142 views4 pages

    Assignment 1 PDF

    Uploaded by

    Nichole Tumulak
    The document provides advice to a friend considering opening a coffee shop near their college campus. It notes that many college students consume caffeine while studying and working on projects, making a coffee shop near campus a potentially profitable business. The document recommends considering the 4 P's of marketing - product, promotion, place, and price - to successfully launch the coffee shop, including promoting through social media, choosing an ideal location, and setting an appropriate price point.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 4

    Nichole G.

    Tumulak A-343
    20577396 August 09, 2020

    1. One of your friends is contemplating opening a coffee shop near your


    college campus. She seeks your advice about size of the prospective
    customer base and how to market the business according to the four
    Ps. What strategies can you share with your friend to assist in
    launching the business?

    To my way of thinking, it seems to me that it would be a great idea to open a


    coffee shop near in our college campus. Pass by any busy specialty coffee shop and
    it will likely be full of customers enjoying coffee, espresso, lattes, teas, and a variety
    of pastries and other goodies especially that many students these days are likely to
    eat off campus. Universities, community colleges, trade schools, and similar places
    have lots of students who are always writing, studying, and working on projects
    that, oftentimes, cause them to get little to no sleep. A lot of student especially the
    researchers consumed some form of caffeine during the school year, and coffee was
    the primary source.

    Opening a coffee shop can be extremely profitable if you do it right. There are
    some simple and basic strategies that we need to open a business and we need to
    consider the 4Ps. The first is the Product because we need because it can be either a
    tangible good or an intangible service that fulfills a need or want of consumers.
    Whether you sell custom pallets and wood products or provide luxury
    accommodations, it’s imperative that you have a clear grasp of exactly what your
    product is and what makes it unique before you can successfully market it. The second
    marketing strategy is the Promotion. We’ve got a product and a price now it’s time to
    promote it. Promotion looks at the many ways marketing agencies disseminate relevant
    Nichole G. Tumulak A-343
    20577396 August 09, 2020
    product information to consumers and differentiate a particular product or service.
    Promotion includes elements like: advertising, public relations, social media marketing,
    email marketing, search engine marketing, video marketing and more. Each touch point
    must be supported by a well-positioned brand to truly maximize return on investment.
    The 3rd one is the Place, you will hear marketers saying that marketing is about putting
    the right product, at the right price, at the right place, at the right time. It’s critical then,
    to evaluate what the ideal locations are to convert potential clients into actual clients.
    Today, even in situations where the actual transaction doesn’t happen on the web, the
    initial place potential clients are engaged and converted is online. And the last one is
    the Price, once a concrete understanding of the product offering is established, we can
    start making some pricing decisions. Price determinations will impact profit margins,
    supply, demand and marketing strategy.
    Nichole G. Tumulak A-343
    20577396 August 09, 2020

    3. Think about the last time you dined at McDonald’s. Evaluate your
    experience using the personal value equation.

    As a customer, the benefits that I received at McDonald’s are the relaxing place,
    the ambiance, and their foods. I am enjoying their foods especially their secret
    menus, and the happy meals. The foods are very delicious and the good thing about
    it is that their prices are very affordable for a student like me. One more thing is that
    during this pandemic they check my temperature and sanitize ng shoes and hands
    before entering the fast food chain. All the service crew were wearing a face mask
    and protective gear so I feel safe doing dined in at McDonald’s. Another thing is that
    the new renovated McDonald’s has a touch screen monitor to order on their menu
    so less hassle for us and less queuing.
    Nichole G. Tumulak A-343
    20577396 August 09, 2020

    Sources

    https://startmycoffeeshop.com/20-tips-to-find-the-best-location-for-your-coffee-shop-business/

    https://drive.google.com/file/d/1ksORpSzrX1qfrZjwskVNPBu3arJcT_7_/view

    You might also like