Report on Finance and Marketing: Case Scenario of Marvin & Smith
Added on 2019-12-18
11 Pages3236 Words186 Views
Finance and Marketing
Table of ContentsINTRODUCTION...........................................................................................................................31. Analyzing the country in which Marvin and Smith should open coffee shop.........................32. Presenting a tailored marketing mix for the expansion plan or purpose.................................43. Assessing the implications of following issues on the expansion plan of Marvin & Smith...54. Stating the profitability and liquidity performance of Marvin & Smith..................................75. Assessing the overall viability of an expansion plan...............................................................9REFERENCES..............................................................................................................................10
INTRODUCTION Finance and marketing both are the main areas of business which in turn closelyinfluences the growth as well as success of firm. In the context of business organization,optimum utilization of financial resources is highly required for the proper implementation ofplan. Further, to achieve success in the strategic environment business entity lays more emphasison doing marketing practices. Moreover, through the means of marketing strategies and tacticsentrepreneur can easily develop awareness among the people regarding offerings. The presentreport is based on the case scenario of Marvin & Smith. By considering then existing growth andsuccess level business entities have take decision to expand business operations abroad. Thus,report will highlight the name of country which will prove to be beneficial for expansionpurpose. Further, it will also shed light on the liquidity and profitability aspect of firm. Besidesthis, it also depicts the extent to which tailored marketing mix is highly required for influencingthe decision making aspect of customers. 1. Analyzing the country in which Marvin and Smith should open coffee shop Cited case situation entails that Marvin & smith coffee shop wants to expand businessoperations with the aim to enhance customer base and thereby profitability. Hence, business unitis planning to enter in the country which is the part of EU countries. In accordance with suchaspect, Marvin & Smith should enter in Denmark country which will offer several benefits to thebusiness entities. Hence, by opening coffee shop in the Kolding city of Denmark business entitycan get the desired level of outcome or success (Clark and et.al., 2016). The rationale behind theselection of such city, that it is the hub of transportation, manufacturing and educational sector.Further, it is the seventh largest city of Denmark and filled with the highly skilled and talentedpersonnel. Hence, through the means of competent personnel Marvin & Smith would becomeable to offer high quality services to the potential customer base (Wood, 2016). Further, Koldingcity of London is known for high tech machineries and other equipments. Hence, by making useof high tech equipments Marvin & Smith can make control on cost level. In accordance with the ethical aspects, Marvin & Smith has accountability to offerproducts or services to the customers at reasonable prices. Along with this, ethical concern showsthat Marvin & Smith should present fair information to the government and other authorities
while fulfilling the documentary formalities. Moreover, license for start-up is offered by therespective country on the basis of documents submitted. Hence, business entities are required tocomply with all such ethical aspects at the time of starting operations in Kolding city ofDenmark. Along with this, tax policies, laws and legislation, location etc. are the main factorsthat business entity considers while taking decision about expansion. Moreover, tax is one of themain factors that closely affect the profit margin of firm. Hence, from assessment it has beenidentified that tax policies which are introduced by the government is highly supportive(Taxation in Denmark, 2017). Further, income, education and standard of living of people aregood. Thus, by keeping all such aspects in mind it can be presented that by opening coffee housein Kolding city of Denmark entrepreneurs can achieve success. 2. Presenting a tailored marketing mix for the expansion plan or purpose By making in-depth assessment of each and every aspect, business entities have selectedDenmark country for expansion purpose. Hence, with the aim to achieve success in the overseasmarket Marvin & smith has prepared marketing mix. Moreover, marketing mix tool enables firmto persuade people towards the products or services offered and thereby makes contribution inthe attainment of organizational goals and objectives (Damodaran, 2016). Hence, marketing mixwill be followed by Marvin & Smith in the overseas market enumerated below: Marketing mix Product: Hot and cold coffee is the main products which will be offered by Marvin &Smith to the customers. For this purpose, business entities will make use of high qualitycoffee beans and deliver quality products to the customers. Price: By considering the factors that affect customers purchasing behavior businessentity will follow penetration pricing strategy. Moreover, price is the major factors thatclosely influence the decision making of people. The rationale behind this, high incomegroup people are ready to pay more prices for the quality products and vice versa(Stewart and Gugel, 2016). From evaluation, it has been assessed that in Denmark,majority of the people belong from middle income group. Hence, at initial level, byoffering coffee products or services to the customers at lower prices Marvin & Smith canenhance customer base and thereby ensures long term growth or success.
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