Business Essential Advanced - PDF
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Added on 2021-01-02
Business Essential Advanced - PDF
Added on 2021-01-02
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BUSINESS ESSENTIALADVANCED
Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................11. Market Research and description of country..........................................................................12. Marketing Mix........................................................................................................................33. Implication that are faced by Marvin and Smith’s coffee-shop..............................................44. Interpretation of financial statements......................................................................................55. Summary.................................................................................................................................6CONCLUSION ...............................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONBusiness is being considered as economic activities whose main concern is to continuousproduction and distributing goods and services to users (Anderson, Sweeney and Williams,2011). Main aim of business organisation stays is to satisfy human needs through offering themproducts or services according to their needs. As give by Dicksee “It refers to a sum total of allactivities related with purchase of goods and services with the main objective to earn profit aswell”. In present report, Marvin and Smith are two partners of a famous coffee shop named asMarvin & Smith’s Coffee Shops. Wandsworth, South London is the place where Hank and Pattyopened their first coffee shop in the year of January, 2016. When they become popular, both thepartners have decided to expand their business in Spain. Report will include, marketing mix,financial account's interpretation along with summary which is related to viability in enlargingthe business.TASK1. Market Research and description of countryAs given in case study, Hank Marvin & Patty Smith are the two partners that decided toestablish their business food and catering industry. After doing complete market investigation for12 months, both have mutually agreed and opened a coffee shop at South London. Research thathas been done was to look into different aspects like selection of location which is best, lookingat what market segment they are going to target, key rivals, funds that are needed, selection ofsuppliers and many more. In the month of January of year 2016, Hank and Patty established theirfirst coffee shop at Wandsworth, South London. After gaining good popularity at international market (Bradford, 2015). Hank and Pattydecided for business expansion. Both have discussed and came up with a plan to launch itscoffee products at SPAIN. Total GDP rate of this nation is $1.506 trillion and as per capita it is$32,559. On the other hand, SPAIN comes on the 25th position from all of the countries inEurope that consumes coffee products which is good number of business expansion in coffeeindustry. Apart from this, revenue under coffee segment is around US$1,299m which wascaptured in the year of 2018. According to statistics report, in coffee industry Spain's largestmarket segment is of roast coffee. US$1,138 million is the market value of this segment than anyother coffee part. With the help of these numerical values, it has been analysed that coffee1
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