Professional Documents
Culture Documents
MARKETING PLAN
Construct a concise execute summary that provides the details of the outcomes of your
marketing plan outcomes. The relevant outcomes include profitability, shareholder returns,
and return on investment.
Executive Summary
Riadha Coffee House is a small self-owned business located in New York that specializes
in selling hot coffee to the public, mainly working citizens and university students. The company
is located at a strategic point in the city where many university institutions and office complexes
are situated. This ensures that the schedule for the staff is always tight. The evaluation of the
companys internal weaknesses and strengths and external threats and opportunities served as the
foundation for the marketing plan and strategic analysis. The strategy focuses on the companys
growth plan suggesting ways in which the profitability of the company can increase. The current
profit margin is 30 percent, and the target is to reach 40 percent in the next two years. If the
profit increases, then the shareholders returns on investment will go up.
Conduct an environmental analysis that includes competitive, economic, political, legal,
technological, and sociocultural forces.
Founded as a coffee-selling shop, Riadha has evolved into a marketer of high-quality
brands for large coffee production companies, therefore, gaining additional income from
advertisement. I purchased the company in mid-2010 and owing to my full-time commitment; I
managed to turn the business into a successful enterprise.
Marketing Environment
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MARKETING PLAN
Sociocultural forces. Riadha Coffee House aims at improving the work-life balance for
both the employees and customers. This is a trend Riadha management noted because most of
the people have not much time to work or get involved in co-curricular activities. The company
has invested in modern coffee brewing machines that save time making the consumers satisfied
and at the same time increasing motivation for the staff.
Specify the primary and secondary target markets for your company. Be sure to cover
the 4Psm 5Cs, and STP.
By focusing on a promise of quality services, Riadha has efficiently rolled out a niche
differentiation plan at a somewhat assorted marketplace. The ability to distinguish our products
and services has added to superior yearly sales. Under our secondary market, promotion for large
coffee manufacturing companies has boosted our earnings considerably. We think about our
primary target market (working people and students) by establishing competitive prices so that
we can get referrals. We are located in a strategic place allowing our customers have a quick
access to our products and services.
Firstly, it is our policy always to put the customers above everything. We usually identify
their needs and, most importantly, keep track of the regular customers (Tsakiridou, Mattas, &
Mpletsa, 2009). Secondly, we gauge if Riadha has the capability of meeting those needs through
conducting a SWOT analysis for the organization. Thirdly, we study our competitors to find out
how they are conducting their operations. This often assists us in gaining a competitive edge.
Finally, we keep our collaborators close to our business because they contribute immensely to its
growth.
MARKETING PLAN
Further, we have to apply strategic practical thinking (SPT) for our business to grow
exponentially. We hire a virtual Chief Marketing Officer (CMO) to integrate our plan, marketing
and sales needs. We add value to the organization by acknowledging that a single customer is
sufficient to cover expenses for the growth and sales initiatives (Larson, 2008).
Conduct a performance analysis with set benchmarks of 50% to 75% per annualized plan.
Your analysis should include at least four (4) of the following metrics: tracking downloads
of Website content, Website visitors, increases in market share, customer value, new
product adoption rates, retention, rate of growth compared to competition and the market,
margin, and customer engagement. Develop four (4) quantitative and (4) qualitative
marketing objectives from your chosen metrics.
The goal of performance analysis for Riadha Coffee House is to attain key objectives and
outcomes to optimize operations. The performance measurement for Riadha aims at setting
benchmarks of 50 percent to 70 percent of the annualized plan.
Performance Metrics
Customers engagement. The way customers perceive Riadha is important to us. We
acknowledge this because there are many competitors thirsting for attention of our clientele base.
We engage our customers through social media sites, for example, Twitter and Facebook. The
conversation helps us to gauge if our products are trending up or down; then we can take
appropriate measures. As a benchmark, this is highly dependent on price and industrial point.
Website visitors. We post our products on the website and measure the increase in traffic
from search engines, for example, Google. This is a valuable way of determining that our content
is being viewed. The increase in the number of website visitors often contributes to 60 percent of
inside sales.
MARKETING PLAN
Increase in market share. Despite the fact that we cannot measure our market share
because it is evenly distributed, we estimate our market allocation internally based on the
number of customers who frequent Riadha in comparison with the competitors. This metric
constitutes over 70 percent of our annualized strategy.
Customer value. Customer value comes first in our operations. We ensure that
consumers receive the worth they deserve because they are our source of revenue. This metric
contributes to over 75 percent of our annualized plan.
Current Marketing Objectives
Qualitative and Quantitative Marketing Objectives
A) Customer Value Metric
a) To set competitive prices affordable to our customers.
b) To increase superiority of our products and services.
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MARKETING PLAN
funding.
b) Coffee price fluctuation is affecting our sales.
MARKETING PLAN
MARKETING PLAN
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D) Threats
a) System security threats.
b) Change of the business environment.
c) Data error in the enterprise software.
d) Lack of employee training.
References
Canavari, M., Castellini, A., & Spadoni, R. (2010). Challenges in marketing quality food
products. Journal of International Food & Agribusiness Marketing, 22(3-4), 203-209.
Larson, R. (2008). Marketing meal solutions. Journal of Food Products Marketing, 8(1), 63-71.
Long, R. (1996). Impacts of competition on food production, processing and marketing. Journal
of Food Products Marketing, 3(3), 83-84.
MARKETING PLAN
Tsakiridou, E., Mattas, K., & Mpletsa, Z. (2009). Consumers' food choices for specific quality
food products. Journal of Food Products Marketing, 15(3), 200-212.
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