(solved) Business Essentials Assignment

Added on - 22 Nov 2020

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Business Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Factors that justify Spain has potential market for Smith and Marvin coffee shop....................1Marketing mix to expand a coffee shop in abroad......................................................................2CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONAn business is a profitable system where goods or services are change with each other inreturn of money. Business are of two different types that is corporate and other is government.Business essential has different benefits. A small business can have various competitiveadvantage. Like they can employ local force for their business. In this assignment marketing mixis discussed. Factor which fulfil the requirements to open a new business shop. Businessessential help a firm to increase the employee skill which are working with in a company orbusiness. Marvin and Smith had started their coffee shop in January 2017 at South London. Nowthey want further expansion of their business in Spain also. So for this report let discuss somefactors which can help to open their shop in Spain.TASK 1.Factors that justify Spain has potential market for Smith and Marvin coffee shop.Growing Sector-In Spain the food and beverage is a sector that is growing rapidly sincefrom past years. The revenue generated by Coffee segment amounts to US in the year 2019. Themarket is expected to grow annually by 2.2% according to the CAG report. So Marvin and Smithcan open their shop as they are already familiar with coffee shop(Growth of Coffee businessesin Spain, 2019).Consumer behaviour-Price play an important role in purchasing behaviour of Spanishconsumer. They move to other brand if any company can providing efficient sales service andinferior quality products to them. So Marvin and Smith should provide good quality of coffee intheir shop with a sensible price so they can attract more Spanish customer.Scope in market- The hot as well as cold drink market of Spain has a positive responsefrom customer. Consumer give priority to on trade sale for coffee like they visit coffee shopsregularly. Roasted and instant coffee are more prefer by the Spain market. Revenue show bygraph in recent eight years from 2010 to 2018 for coffee has been increased from $62,703.5m to$100,934.5m.Culture of coffee in Spain-Person who stay in Spain visit regularly coffee shop to meettheir family and friends. People start their day with coffee. Types of different coffee which canmostly prefer by Spanish society are. Latte, espresso and Macchiato which are consume as hot1
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