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Business Essentials Advanced – Case Study Assignment
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Added on 2020-12-09
Business Essentials Advanced – Case Study Assignment
Added on 2020-12-09
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RESIT BusinessEssentials Advanced –Case Study Assignment
Table of ContentsINTRODUCTION...........................................................................................................................3TASK...............................................................................................................................................31. Identify a county for expansion of business and justify choice..............................................32. Present a tailored marketing mix in relation to the coffee shop expansion plan abroad.........43. What are the implications of the need for company to cover a wider geographical area interms of a different country.........................................................................................................64. Use financial information, evaluate how their profitability and liquidity may impact ondecisions available to them.........................................................................................................85. Overall summary regarding viability in international expansion............................................9CONCLUSION..............................................................................................................................10REFRENCES.................................................................................................................................11.......................................................................................................................................................11
INTRODUCTIONLaunching a business refers to a process by which an individual establish or startthere business. For opening a new venture a person required to do various things likeevaluation and analysis of market (Au and et. al., 2013). Along with this they required toprepare budget according to resources and equipments which are requirements forlaunching and running a business. Organisation which is selected for this assignment isMarvin and Smith’s coffee shop which is opened in January 2016 at Wandsworth, SouthLondon. Founder of respective shop are Hank Marvin and Patty Smith who workedtogether for many years and then decide to launch there coffee shop. They offer qualityand herbal products and they use finest coffee beans. Along with this they decide tooffer themed evening such as board game night, chat with Nanna for taking advice andmany more. Topics covered in this report are country of European Union in whichrespective company can expand and marketing mix related to this. Factors whichimpact respective company while expanding there business and evaluation of companyprofitability and liquidity which influence decision making. TASK1. Identify a county for expansion of business and justify choiceAccording to given case, there are two person Hank Marvin and Patty Smith whoare working at a food and catering industry form long time. Now they are planning tolaunch their own business in some other country. Where they can get maximum profitand customers bases. Thus, both important peoples of respective company do marketanalysis and evaluation in order to develop appropriate and effective strategies. Theyspend almost 12 months for conducting research and market analysis for their coffeeshop (Vogel, 2018). Before launching business they determine various factors such astotal capital, resources required, target market and audiences, suppliers, competitorsand many more. After conducting research of different different countries and buying behaviour ofcustomers of those countries Hank Marvin and Patty Smith decide to expand theirbusiness in France. Mostly peoples or travellers visit this country to travel and visitvarious attractive places and monument. This is consider as opportunities for respective
company to expand in this location in order to enhance there profit and customersbases. Peoples of France also attracted and like bakes and herbal foods as well ascoffee with finest coffee beans. After deciding area Marvin and Smith’s coffee shopdecide various other things such as budget, target audiences, location and many more. So it is responsibilities of owners of respective company to select appropriatelocation which help them in enhancing there selling of products. Such as they can usearea near college, tourist visiting place and many more. Along with this they alsoconsider that location where supply of goods are easy. It is essential for respectivecoffee shop to plan and decide appropriate location, decision, policies which help inenhancing business in effective and appropriate manner (Gupta, Goktan and Gunay,2014). For this company also decide various activities to enhance there customersbases such as they are using herbal and fresh products, they made coffee with finestcoffee beans. Along with this they are also plan to provide theme evening such as board gamenight and chat with Nanna for any advice or suggestion. Manager of respectivecompany train and develop there employees so that they operate as well conduct therebusiness in effective manner. Hank Marvin and Patty Smith develop as well as decideproducts and services according to need and demand of customers of France market.By expanding business operations and function at France market company able toenlarge there customer base, understand new market, increase profitability, marketshare and many more. 2. Present a tailored marketing mix in relation to the coffee shop expansion plan abroadWhile expanding a business in new market, a company has to conduct marketingmix which help them in launching and running business in effective and appropriatemanner. In context of Marvin and Smith’s coffee shop when they are expandingbusiness in abroad market that is German they conduct Marketing mix (Heald, 2018).Which help them in expanding business in effective manner, along with this they alsoable to target appropriate customers for there coffee shop. Explanation of marketing mixin context of Marvin and Smith’s coffee shop is explained below:- Marketing Mix:-
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