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(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...

 


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