Hank Marvin and Patty Smith Business Essentials Report

Business Essentials

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
MAIN BODY .................................................................................................................................3
1. Research .................................................................................................................................3
2. Marketing Mix........................................................................................................................4
3. Impacts ...................................................................................................................................6
4. Evaluate how profitability and liquidity may impact on decisions. ......................................7
CONCLUSION ..............................................................................................................................9
REFERENCES .............................................................................................................................10

INTRODUCTION
Business essentials are the innovative set of tools and techniques that are used to develop
and establish the business organizations in such a manner that it will turn out to be very
profitable for the owner of organization. These are designed to meet the specific and key areas of
the business by developing critical skills of the individuals. In United Kingdom, there is very
high demand of coffee among the individuals and this is the reason that there is high competition
among vendors and shop holders. Two business partners, i.e., Hank Marvin and Patty Smith are
planning to expand their coffee shop in Germany in order to expand their business operations.
Main aim of this report is to lay emphasis upon the factors that are important for expanding new
business in the European Union countries and the forces that are need to be considered while
setting up this expansion.
MAIN BODY
1. Research
Hank Marvin and Patty Smith can expand their business in the United Kingdom because
there is a huge demand of coffee over there. In United Kingdom, drinking coffee is the ritual for
people which they never skip. The culture of Britain's coffee shop is fully loaded with beans.
Since 2008, the market of coffee shops has seen huge success in United Kingdom. As per the
reports, the market value of this industry in 2008 was £2.2 billion approximately. In last five
years, market has seen the growth of 38% approximately, the growth increased by £2.5 billion in
2011 and £3.5 billion in 2017. United Kingdom can prove to be a suitable country for Hank
Marvin and Patty Smith to expand their Marvin and Smith coffee shop; it is because of the very
high demand of the coffee in the country(Ovalle-Rivera, 2015).
The people of United Kingdom consider coffee as the part of their busy lives and there
are very huge number of coffee drinkers available in the country. There is continuous growth of
this industry in United Kingdom in last few years because of its high demand. As per the reports
and the findings, there are only 18% of the people available in the country who do not prefer to
drink coffee out of their homes and places. The ratio is very little, if Marvin and Smith coffee
shop use proper techniques to engage the interest of their potential customers than in that case
they can achieve the remarkable success in United Kingdom(Yu, 2016).