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Business Essentials Report of Coffee Shop

   

Added on  2020-07-22

12 Pages3142 Words55 Views
BUSINESS ESSENTIALSCOFFEE SHOPTable of Content

Business EssentialsIntroduction........................................................................................................................31. Justification accounted for the selection of country suitable for the expansion ofcoffee shop by Marvin and Smith......................................................................................32. Marketing Mix for the coffee shop expansion plan........................................................43. Implications required by Marvin and Smith for a wider geographical area in Ireland...64. Financial information evaluated in context of profitability and liquidity for coffee shop85. Viability of coffee shop expansion overseas...............................................................11Conclusion.......................................................................................................................11References.......................................................................................................................12Page 2 of 12

Business EssentialsIntroductionThe expansion of an existing organisation at an international market depends on thedemand and supply specifications appreciated by their target markets. In the followingassignment, information collected shed lights upon the two business partners Marvinand Smith that worked for years in catering and food industry. These partners furtherwished to open their own coffee shop in a European Union country marked as Ireland.Moreover, the evaluation of marketing mix for the expansion of coffee shop has beenmade along with the implications required with respect to the wider geographical area.The assignment further accounts for the profitability and liquidity of the coffee shop asprepared by Marvin and Smith for their future expansion.1. Justification accounted for the selection of country suitable for the expansionof coffee shop by Marvin and SmithThe two partners Marvin and Smith selected Ireland for their further opening andexpansion of coffee shop. There are different valid reasons for the business partners toagree for the opening of their coffee shop in Ireland. As indicated by Einwiller and Weitzl(2016), there lies a saying as ‘the luck of the Irish refers to an ability to prosper againstadversity’. In addition to it, the economic perspective of Ireland avoids tribulation inrecent times and further continues to prosper. However, in order to know the newmarket of Ireland the two partners must analyse the relevance of their existing Irishmarkets and its characteristics. As for instance, there were Seamus Healey, U2,Riverdance and St Patrick's Day to be considered as the testament to the cultural powerand Irish pub of Ireland. These further symbolises the hospitality and warmth of thecountry across the globe.As commented by Jaggia et al. (2016), Ireland has been marked as UK's largest exportmarket for the food and drinks products. Thus from the perspective of opening newcoffee shop in Ireland can prove to be an excellent decision made by Marvin and Smith.Moreover, the coffee culture prevailing in Ireland is remarkable for the new businessentry in this industry. In addition to the discussion, Ireland as a country is reputedlyknown as a tea-drinking nation as the Irish people consume both in retail andfoodservice sectors. Irish people are increasingly inquisitive in nature when it comes tocoffee, as they are keen to experiment new bean types flavours and the brewingPage 3 of 12

Business Essentialstechniques. Therefore, in order to open new coffee shop, Marvin and Smith as abusiness partners must consider the legal approach of their coffee shop to enter in thenew market of Irish people. The ethical consideration required for entering the newmarket deals with the Fairtrade adaption, the staff welfare are marked for the legalassurance to be possessed by such new businesses (Sardana 2016). Marvin and Smithimported coffee beans from Gumutindo Coffee in Uganda along with the high qualitytealeaves from the Fairtrade foundation registered under East Uganda. Thus, aftermaking such efforts, the locations thus selected for the opening of coffee shop in Irelandshould relates to the local market area, where common people can approach easily.The layout marked for Marvin and Smith’s coffee shop tends to be a private one as thebusiness financial these two partners manage difficulties only. In addition to thediscussion, the supplier deliveries are planned to be conducted by the transportationfacilities such as shipping and local vans for carrying the raw materials to the coffeeshop. Therefore, from the above made discussion, it can further be analysed that theselection of Ireland as a new target market for the opening of Coffee shop is a justifieddecision made by the two business partners Marvin and Smith. Moreover, the urge fornew taste and innovative atmosphere is the key fact that must be adapted by the twopartners Marvin and Smith for making a successful opening of their coffee shop for theIrish people. 2. Marketing Mix for the coffee shop expansion planIn addition to the above made discussion, the need for evaluating the relevant aspect ofthe coffee shop planned by Marvin and Smith must be made in respect to theirexecution of new opening in Ireland. However, as suggested by Girgenti (2016), theapplication f Marketing Mix tools is suitable for making aspects car and pre planning thestrategies for entering a new market. Thus, the following are efforts made for planningthe new business target and related activities for the coffee shop expansion through the7Ps of Marketing Mix: MarketingMixCoffee shop of Marvin and SmithProductThe product served by the Marvin and Smith comprised of fine andPage 4 of 12

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