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Marketing Mix Strategy : Report

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Added on  2020-01-16

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This report is on "business essentials Marvin and Smith's coffee". According to the topic, there are various essential components that are to be considered for the expansion plan by each business unit. Similarly, Marvin and Smith want to expand their coffee shop in the country of the European Union. So the report will help in selecting the country, the marketing mix strategy, the various related issues which can take place while expansion. For a better understanding of the report, you can also check the Marvin and Smith coffee shop. We will discuss here the financial information of Marvin and Smith Coffee.

Marketing Mix Strategy : Report

   Added on 2020-01-16

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BUSINESS ESSENTIALS
Marketing Mix Strategy : Report_1
Table of ContentsINTRODUCTION...........................................................................................................................1ASSIGNMENT ...............................................................................................................................11. Research for selecting country...........................................................................................12. Marketing Mix....................................................................................................................23. Impact of different issues...................................................................................................44. Analysis of financial information.......................................................................................55. Summary.............................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONAccording to the topic there are various essential components which are to be consideredfor the expansion plan by each business unit. Similarly, Marvin and Smith want to expand theircoffee shop in the country of European Union. So the report will help in selecting the country,the marketing mix strategy, the various related issues which can take place while expansion.ASSIGNMENT 1. Research for selecting countryIn the present scenario, the coffee shops are growing rapidly and it has also become thefavourite place for public. They can spend their time at coffee shop easily. Therefore, thedemand of coffee has been increased in the market. Marvin and Smith's coffee shop is alsolooking for the same(Huang and Sarigöllü, 2014). They want to expand their business into thecountry of European Union (EU). But they want to select that county which can supply coffeebeans at the affordable price so that they can generate more profits. They are finding the location(country) where the demand is high. As per the requirements of Marvin and Smith, the country Denmark of EU is suitable forexpansion plan as compared to other countries. The demand of coffee in Denmark is very high.People like and prefer to go to coffee shops. On the following grounds, justification can be donefor the selected country with respect to the expansion. Logical consideration –The people of Denmark are having highest purchasing power.They live life in a luxurious way and do not compromise in it. They prefer to go forhangout, party or spent their time into the coffee shops(Riasi, 2015). They go for highquality products. And similarly with the services that means good and high quality.Marvin and Smith maintain their quality and provide better services to the customers. Theyouth is highly attracted towards coffee shop. If M&S (Marvin and Smith) expand theirbusiness in Denmark then the response would be positive from the side of people.Ethical consideration – On the ethical ground, the people are very ethical in this country.Ethical consideration involves individual and at societal levels. The individual getsinfluenced by the code of conduct of business Laws of the country reflect the way of lifeof a society or community. The laws in Denmark are very ethical and fair. Hence, theethos of the society can be taken as the basis of those laws . The other business units offertheir products and services at fair prices with good quality. Business cannot cheat on the1
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part of manipulation, unfair trade practices etc. with the people in such an ethicalenvironment of the country. So, both the business and people perform their duty and doesnot cheat others. Structural challenge – The infrastructure of Denmark is very advance format. They useadvanced technology in their regular life. The comfort level is high in terms ofavailability of products and services. The scope of growth is very high, if business adaptwith the changing environment(Dess, McNamara and Eisner, 2016). M&S has to identifythe location and develop structure for easy availability to the people. The infra-structureand the interior of the shop attract people. The new business unit has to create awarenessabout their products and services which they are offering to public.Therefore, it has been justified from the above research that Denmark would beappropriate country for the expansion plan of Marvin and Smith. So that they can grow theirbusiness with sufficient profits. 2. Marketing MixAs coffee shops are included in the service industry so their marketing mix consists of 7P's in comparison to product marketing mix of 4 P's. The service marketing mix assumes that itsservice is a product(Berger and Roman, 2015). Therefore, three more P's have added on thiswhich shows and required for the optimum delivery of service. The 7 P's of marketing mix are asfollows:Product – The product for service marketing mix is its services which are intangible innature. Usually, the blue print of service defines the service product. Like in coffee shop2
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