(solution) Can anyone help me write an executive summary of my marketing

(solution) Can anyone help me write an executive summary of my marketing

Can anyone help me write an executive summary of my marketing plan in the next 45 minutes to an hour?

Marketing Plan for Center Perk Café & Lounge Five Year Marketing Plan for: Center Perk Café & Lounge
Proposed by Alexander Taylor
Submitted to Carla Weaver
Date: 01/01/16 1 Marketing Plan for Center Perk Café & Lounge 2 Abstract
This is a five year marketing plan for Center Perk Café & Lounge that is owned
by Alexander Taylor, Olivia Mikelos and Bernard Pettyjohn. We run a 24 hour
coffeehouse that sells pastries and other small community items as well as hosting
small events. We have a very specific set of goals. Our first goals is to earn a profit and
another one of our goals is to create an environment for our customers to escape the
craziness of their lives and take a moment to enjoy the little joys of life. We believe that
this plan will help us achieve these goals and achieve success. Marketing Plan for Center Perk Café & Lounge 3 Table of Contents
1. Executive Summary
(Not yet completed still adding finishing touches and will have completed up to this
point this Friday but the final edited version will not be included until Week 7
because it is 2. Company Description
Center Perk Café & Lounge was started by cofounders Alexander Taylor, Olivia
Mikelos and Bernard Pettyjohn, in order to create a place for people in the
community, mainly the college students who call The Ohio State University home a
place to step away from the craziness of life and take a deep breath while enjoying a
high quality, and affordable cup of coffee as well as many other coffeehouse
pastries. Business Description
In a world where everything is based on how fast things can be done and where
a lack of attention to detail has led to quantity over quality mind sets, we here at
Center Perk believe that the greatest parts of our days come when we take a minute
to look around and just enjoy the little pleasures in life. We feel it is very important to
not let the chaos and stress of life keep us from enjoying the small things. Each and
everyday people walk the sidewalks in major cities and towns and never
acknowledge one another instead they are too busy on their phones and worrying Marketing Plan for Center Perk Café & Lounge 4 about how many people they have on Twitter. The goal of Center Perk is to provide a
place that allows people to let off some steam and take a breath. We want to give
our customers a place where they can refresh themselves and clear their minds. A
place where facetime is in person and not over a cellphone. Center Perk also will
provide all of these services 7 days a week as I mentioned before. Being located in a
college town, this will work great with the customer base on which we are focusing,
which is anyone who travels past our storefront at any point of the day. We are
focusing mainly on college students because they tend to be the most active group
of customers throughout the day and tend to be the ones who use our store to meet
up or take a break and relax while studying.
Our intent and plan is to showcase all of the many great things that our
community has to offer. We will host many different contests that are supported by
local businesses, charity fundraisers, and we will do our best to use products that we
can obtain locally such as produce. We also will give our customers the ability to
have a say about the way we decorate, and design our store. We want to give our
customers a place that they enjoy being in on a regular basis. We strongly believe in
community service which is why we believe in taking part in different charitable
fundraisers and other acts of service that benefit others in our city as well as help us
give back to our roots.
CPCL believes that being open 24 hours a day on week days and Saturday, as
well as being open till 9 p.m. on Sundays will not only be convenient for our
customers but for our staff as well. Our plan and goal is to hire as many college
students as possible that way we are able to keep payroll costs down and they will Marketing Plan for Center Perk Café & Lounge 5 be able to aid us by advertising for us just by speaking with their friends. Also by
employing college students we will be able to continue giving back to the community.
Another reason why our hours are beneficial to us is because of our location.
We are located on one of the highest foot trafficked areas in the city and that is
for all hours of the day and night. Having a young staff will also help our store remain
current and updated in terms of atmosphere and design. Having younger employees
will also help us connect with our customer base on a greater level. Our final goal is
to provide a place that our community and customers are proud to do business with.
We want to show off all the wonderful things that can be found in our city to all those
who might be visiting from out of town. We want people to tell others when they get
home that if they ever are in the area that they have to stop in and grab a cup of our
coffee or attend one of the events that we are hosting. Our belief is that if we are
able to establish these ideas and live by our plans we will not only be profitable but
will also become a pillar and major focal point on campus. 3. Strategic Focus and Plan
This section covers three aspects of our corporate strategy and influences our
marketing plan: (1) Our Mission Statement, (2) Our Goals, (3) Core
competency/sustainable competitive advantage of Center Perk Café & Lounge. Mission
The mission of Center Perk Café & Lounge is: Marketing Plan for Center Perk Café & Lounge 6 ?To provide the highest quality service, products and experience at the most affordable
prices in all markets in which we are located. We will set the standard for excellence for
our competitors and for other businesses in every industry as well as give back to the
communities we serve.?
Here at Center Perk Café & Lounge our goal is to create a comfortable place for
people to go to when they need to escape work, school or life in general. We also strive
to provide a place where the community can take pride in the many things that they
have to offer visitors as well as their own residents. We have a simple store layout
meant to be easily arranged and changed efficiently and quickly for the times where we
have a live performer or when we might have an entertainer for a night. We want to
create a place where our customers can not only express themselves through different
mediums but also gives them a chance to find others who might have similar interests.
We strongly encourage our clients and employees to always stay true to themselves
and let their personality shine through their words, actions and everything they do inside
and outside of work. We hold ourselves to higher standards than most locations near us
because we feel that anything short of our best is unacceptable. We believe that the
way we serve our customers is a clear way to show the type of people we are and the
things that we value in life. Our goal is to be an outlet for our customers to catch their
breath and enjoy local entertainment from artists, musicians, authors and many other
entertainers. In closing, we not only want to be the central point of our community, we
also want to be considered one of greatest perks of living in our town. Goals Marketing Plan for Center Perk Café & Lounge 7 For the coming five years Center Perk Café & Lounge seeks to achieve the following
goals: Nonfinancial Goals:
1. To obtain an image as the coffeehouse with the highest-quality service,
experience, most affordable prices and overall best place to be on campus
as well as in all markets in which it competes.
2. To open 7 other locations in 6 other major cities or college towns in the
state of Ohio which would bring us up to 10 total locations.
3. To branch out past our state borders and have 2 locations outside of the
state of Ohio.
4. To establish a future calendar of entertainment and events 2 months in
advance with local and possibly popular performers.
5. To be ranked among the Top 5 best coffeehouses in the Midwest.
6. To come up with a new seasonal product line or recipes every year.
7. To establish a website, social media accounts and maintain an active
presence online in order to establish a stronger and more well-known
brand and identity.
8. To promote our customer loyalty cards to the point that 75% of our
customers become rewards card members.
9. To establish an effective delivery system to enable us to service more
corporate customers and increase our overall convenience for them as
well as give us many great rewards, connections, cheap advertising and
also strengthen our relationships with these companies in order to make our expansion much smoother and more successful.
Financial Goals:
1. To obtain an average transaction value of $15.00 per customer within the
first 2 years.
2. To obtain a profit of $5,000 profit every quarter for the first year and
increasing by $5,000 every year after for each store location. Marketing Plan for Center Perk Café & Lounge 8 Core Competency and Sustainable Competitive Advantage
In terms of core competency, Center Perk Café & Lounge seeks to achieve a
unique ability to (1) provide a distinct, memorable and enjoyable experience to everyone
that walks in our door (2) create an environment where community members as well as
those who are visiting from out of town to take a deep breath and enjoy a delicious
pastry or coffeehouse product while forgetting about the stress and worries of their
everyday lives (3) provide the highest-quality products at the most affordable price and
(4) ensure that everyone who we come in contact with can see that every member of
our staff meets and exceeds the standards of excellence in terms of service, attitude
and skill that we expect of ourselves as well as pride ourselves in having.
To translate these core competencies into a sustainable competitive advantage,
the company will work closely with key retailers, suppliers, local businesses, as well as
other community businesses who have similar desires to strengthen our community and
establishing a relationship with the student body to ensure future business, in order to
achieve success. We will establish alliances and relationships with local and some
nonlocal performers and entertainers in order to have them available to us for future
events in order to reach a wider customer base. We will also take great care in all
decisions that we make in regards to choosing high-quality and if possible locally
obtained ingredients for our recipes. Competitive Advantages Marketing Plan for Center Perk Café & Lounge 9 Center Perk Café & Lounge takes pride and full advantage of the many different
features that enable them to be better than their competition and other conventional
coffeehouses. Foremost among these are: Center Perk employs many college students which enables them to maintain
a current and up to date environment as well as relevant with the world around them.
Located on a High Street which is one of the, if not the most traveled route through Columbus which gives it a large customer base.
Our ownership has a hands on leadership style which enables every
employee to be on the same page and avoid any confusion as to the process
or manner in which tasks are completed. Our ownership also has a large amount of experience in managing successful and profitable businesses.
Our delivery system enables us to service more corporate customers and
also increase convenience for them which is extremely important in American
consumer?s minds. This enables us to make connections with companies that
have national facilities which is helpful for our expansion as well as enable us
to use cheap advertising through our logos and brand on our packaging and transport vehicles.
Our delivery system also strengthens our brand awareness, as well as increase the quality associated with our brand
Our hours of operation enable us to take full advantage of the never ending
and always active lifestyles of college students and allows us to reach
customers who might have gone elsewhere had that store been open. This
will lead to us gaining their attention and then giving us a chance to impress
them and become their primary store. Marketing Plan for Center Perk Café & Lounge 10 Our community interactions and service acts will enable us to get easy, and
free advertising from the media as well as the use of social networking allows
us to remain relevant as well and save money that we can use on other aspects of our business.
Allowing local performers to use our store as a small venue also enables us
to attract different customer groups and also create new connections with the visitors that attend these shows or events.
By having mainly part-time employees, we save money by not having to
provide major benefits and also allows us to work with our employees work and school schedules which works for our employees as well.
Our years of experience in large markets will enable us to take steps that we
have learned to be successful in college towns which our competition may
lack if they have not been experienced in other markets of this size. 4. Situation Analysis
This situation analysis starts with a snapshot of the current environment in which
Center Perk Café & Lounge finds itself by providing a brief SWOT (strengths,
weaknesses, opportunities, threats) analysis. After this overview, the analysis probes
ever-finer levels of detail: industry, competitors, company and consumers. Marketing Plan for Center Perk Café & Lounge 11 SWOT Analysis
Figure 1 shows the internal and external factors affecting the market
opportunities of Center Perk Café & Lounge.
Figure 1. SWOT Analysis for Center Perk Café & Lounge
Internal Factors Strengths Management Experience, organized, driven and
entrepreneurial management team Offerings High-quality, affordable products, mainly
from local distributors and suppliers as well
as two trusted suppliers with whom we
remain in constant contact with
Distribution in a large market with an
excellent customer base and acceptance Marketing Personnel Finance
Manufacturing R&D Great, reliable, well-trained workforce that
are familiar with the customer base. Though
small, very cost effective and easily
managed. Very easily interchanged when
turnover occurs. Great ability to relate to
customer base and expand the customer
base
Excellent growth in sales revenue as well as
high profit margin do to smart organizational
planning and management decisions.
Majority of our suppliers are local and are
highly trained professionals with whom we
keep consistent contact with to ensure high
quality, strong relationship with all suppliers.
Most of our sales come from products
created in house from ingredients and
supplies from local facilities. Continuing efforts to ensure that a quality
product every time and trying to find new Weaknesses
Small size restricts our options and our
possible growth as well as putting a lot of
importance on each of these members
Lower quality products and lower prices from
our larger and cheaper competitors Restricted growth due to a lack of a
recognizable brand. Not a national brand, and
our store location restricts the size of our
events, functions and storage abilities. Our
larger competitors don?t have these issues in
most cases.
Gaps do form when multiple members leave or
request time off. Scheduling at times becomes
difficult depending on the time of year and
school schedules. Not all are experienced in
this market. Limited resources may restrict growth
opportunities when compared against our
larger and more resourceful competitors.
Lack large distributing centers and
transportation system that our larger
competitors use for deliveries and resupply
days. Limits our ability to expand because we
are unable to supply large locations that are
great distances apart. Larger competitors have
the resources to also create similar products in
larger quantities and at a lower purchasing
cost to them
Larger competitors have far larger facilities with
which to test products, review products, and Marketing Plan for Center Perk Café & Lounge 12 recipes to expand customer base and
increase sales. Also researching new trends
to find ways to expand stores, product lines,
customer base, connections and increase
profit. External Factors generate samples. Our larger competitors also
have more resources to put towards R&D as
well as more space with which to test their
products. Our competitors also have more
resources to put towards the promotion of new
products. Opportunities Threats Consumer/Social Very large market with numerous
opportunities to expand our customer base
each day. Very stable and reliable flow of
foot traffic, the market itself is likely to
continue to grow. Desire for a high-quality
product at affordable prices will always be
desired by the public. Competitive Very memorable name, concept and
atmosphere. Well known in our markets, as
well as having a very recognizable
packaging. Open during hours that our
competitors are not. Provide a greater
experience for our customers. Ability to host
small gatherings Technological Technical advances have enabled us to
achieve access to many markets that use to
be exclusive to our larger competitors Economic Consumers in this area besides the college
students, which make up a majority of our
current customer base, are high income
households. Also a desire for convenience
is important throughout America which is
great for us because of our location in the
center of the campus in the state capital Legal/Regulatory High U.S. Food and Drug Administration
standards eliminate fly-by-night companies
as well as eliminate some of the resources
that our competitors could use for their
products that our company would be unable
to obtain. Currently lack a strong and well-known brand
name and our prices are sometimes higher
than our competitors because we have a
higher quality product Our competitors limit our
ability to gain access into some markets, and
our customer base is currently focused on
college students which also limits our ability to
expand into certain regions
Not patentable, competitors can attempt to
replicate our products and recipes and then
produce them on a much larger scale than we
are capable of. Also, our lack of a well-known
brand name beyond our marketing area and
national brand make expansion difficult. Our
competitors also have much larger facilities
and more resources to use in all areas of their
operations.
Our larger competitors have far greater
resources than our company which enables
them to have more advanced technology and
machinery that enable them to cut production
times in half. This also enables them to save
time and money in the long run
Sadly, there are more people in our market
using Keurig and other home brewing devices
which are currently out of our capabilities of
producing on a large scale. These products
essentially eliminate the need for these people
to go to the coffeehouse for their coffee and
thus killing our chances of selling add-on items
such as pastries or other merchandise.
Mergers among our larger competitors
continue to be approved by the government. Industry Analysis: Trends in the Coffeehouse Industry Marketing Plan for Center Perk Café & Lounge 13 Home Brewing. There is also another major trend that is taking place that is changing
the market in which we do business. Many people are having a desire to brew their own
coffee at home as opposed to going to the coffeehouse or store to obtain a fresh cup.
Instead, many people are purchasing home brewing products that enable them to have
the same coffeehouse quality and in some cases even the exact brand that they would
get at their coffee shop in the comforts of their own kitchen all by pushing a button. This
is leading to more companies producing these packets and containers for their
customers to purchase in their stores as well as at other major retailers. This is
something that our company must focus on and take advantage of because if we do
not, we will be left behind. Community Pride. There is a trend taking place in which more and more people are purchasing products from their own communities and local businesses because they
have pride in their communities. They also tend to believe that the products that are
obtained locally have a higher value and quality as opposed to those that are imported
from other areas. Competitor Analysis
Based on our research we have found that many people stop at our competitors
do to their familiarity with their brand name and product lines. They also import many of
their products in from other countries and regions in order to keep company costs down
and their profit margin up. Our research has shown that customers are more willing to
wait for their orders at these locations because they tend to believe that the products Marketing Plan for Center Perk Café & Lounge 14 that they are purchasing are of higher quality than they actually are. We intend to prove
that this is not the case. Just because you pay more for something does not guarantee
that the product will be of higher quality. True, our competitors tend to have a higher
number of customers in the store at one time which may cause the delay between when
they place their order and when they actually receive it. We intend to show that our
products and service will far exceed theirs, and still provide a better product at a very
affordable price. We will also do this at times at a faster rate due to our organization and
management which enable us to be as productive as possible while still providing
excellent service. Also the great part about our company is that we have great
relationships with our local suppliers and other businesses around us. We all seem to
have the goal to strengthen our community and the best way to do that is to strengthen
one another which is why we use as many local businesses as we can. This way the
customer can see how the money that they spend in our store, directly affects not just
our store but the suppliers that we use and in turn the entire community will benefit. Our
location is also great because we are right near many shops and right across from the
Student Union which enables us to get more foot traffic than anywhere else in the city.
Our extended hours also help us obtain the business of all those people who might
have gone to our competitors had they been open. Based on our math we are open on
average almost 24 total hours more each week than our competitors which is great for
all the people who work late shifts or who are taking night classes. It is also great for
those people who want to study and enjoy some relaxing entertainment or while
enjoying some of our delicious treats. Marketing Plan for Center Perk Café & Lounge 15 Customer Analysis
Based on our research we have been able to specify that the majority of our
customer base are college students between the ages of 18-30 and are typically middle
to little income so they don?t tend to do many large orders instead they are small orders
in large numbers. Typically, 75% of our business each day are regulars and are people
who have Loyalty Cards which enable them to get a free cup of coffee every 10 th cup
that they buy. So their orders tend to add up rather quickly. These college students are
the main reason why we remain open all night because being located in a college town
means that there are constantly people awake and active in the city. Since majority of
our staff are college students themselves this makes it easy to schedule each week and
also remain relevant and current on all trends that are taking place. Our location is great
because we are right across from the Student Union in the largest college campus in
the nation. So we are very convenient for the students. We are also convenient for all
visitors to the campus which is great because if they have a great experience they will
be more inclined to return and hopefully tell their friends. This customer base is a very
steady and stable one because, as I said before there are always people walking
around on campus and this university isn?t closing in the foreseeable future which
makes projecting our future sales that much easier. The sheer number of customers that
we have each day is what allows us to keep our prices lower because the number of
customers and the lower price even out in the end. Based on our research, 65% of all
coffee consumed in a day is consumed during breakfast hours, 30% is consumed
between meals and the other 5% is consumed during meals, which is why we focus
most of our time and resources on making that early morning experience excellent. Marketing Plan for Center Perk Café & Lounge 16 According to our research we have also found that men and women drink coffee for
different reasons which we take into account when trying to advertise and persuade our
customers to p…