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Market Segmentation, Targeting and Positioning Assignment

   

Added on  2021-02-20

10 Pages3129 Words194 Views
Market Segmentation, Targeting and Positioning Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................3QUESTION 1...................................................................................................................................3Justification regarding choice of country....................................................................................3QUESTION 2...................................................................................................................................4Tailored marketing mix................................................................................................................4QUESTION 3...................................................................................................................................6Key factors Marvin and Smith should consider while expanding business in Denmark.............6QUESTION 4...................................................................................................................................7Calculation of ratios.....................................................................................................................7QUESTION 5...................................................................................................................................9REFERENCES..............................................................................................................................10
Market Segmentation, Targeting and Positioning Assignment_2
INTRODUCTIONBusiness essentials are the set of different elements which are required to be focused byall the organisations in order to attain long term goals. These are product quality, profitability,liquidity, market image etc. While planning to expand the business in new locations it is veryimportant for owners of enterprises to focus on all these aspects (Ahsan and Pedersen, 2018).This report is based upon a coffee shop named Marvin and Smith which is planning to expand itsbusiness in Denmark. For this purpose various topics are discussed under this assignment such asjustification regarding choice of country, marketing mix in relation to the coffee shop, factorswhich should be considered by Marvin and Smith etc. Along with this, calculation of differentratios and a conclusion regarding validity of the expansion is also covered under this report.QUESTION 1Justification regarding choice of countryHank Marvin and Patty Smith were working together since a long period. They wereworking together for catering and food industry and having a dream of establishing their ownbusiness so they planned open a new coffee shop. After conducting a market research of 12months a coffee shop was established by them in Wandsworth in South London, UnitedKingdom in year 2017. Finest beans to prepare the drinks were used by them in order to standout of the market. High quality tea and herbal infusions are also used for the purpose of meetingexpectations of clients. After attaining success in London they planned to expand business innew location which is Denmark.This country was selected by them by conducting market analysis. They have analysedthat Denmark is one of the 10 countries which are considered as top 10 coffee consuming nations(World's top 10 coffee consuming nations, 2019). All the factors which were taken in toconsideration while formulating the decision are as follows:Political conditions of Denmark: Hank and Patty conducted research about Denmark inorder to assess political conditions of the country. They have analysed that political stability inthe nation is high which means the organisations that are executing business in that country donot have to make changes in their policies frequently. They have observed that legal authoritiesof the region provide support to such businesses which can help to develop the economy. Their3
Market Segmentation, Targeting and Positioning Assignment_3

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