Summary Marketing Plan Term Paper Example | Topics and Well Written Essays - 1000 words

Summary Marketing Plan - Term Paper Example The customers get an overall experience of having coffee along with shopping. Therefore, customers can either have coffee when sitting on a couch or while selecting the merchandizes from the shop. This marketing plan will first make a situational analysis for the cafe. In the situational analysis, the overall picture in terms of trends, statistics, size, growth and competition will be discussed. Also, a SWOT analysis will be performed for identifying the strength, weakness, opportunities and threats of the current industry. The report will also give an insight into the current competitors in the industry. A comprehensive explanation of the target market and product positioning will be discussed. Based on all these analyses, a marketing plan will be charted out for the cafe. Situational Analysis Cafe Gam Sung will be located in the Sunnyside neighborhood in New York City. Sunnyside is located in the western part of New York City. Sunnyside’s total population is 29,506 people. T hough majority of the population are Americans, a larger portion is also constituted of people from almost 30 countries. Therefore, Sunnyside is a place with very diverse cultural characteristics. The median income of the region is $37,962. The majority of the population in the area are of the age group of 25 – 39 years; they constitute up to 32% of the Sunnyside population. The next bigger group is 40 – 64 years old people forming around 30%. ... 40% fall below $30,000. Only a meager 1% has an annual income of higher than 150,000 (Movoto, 2012). Sunnyside is a market with a highly growing potential for coffee shops. The major opportunity in the market is that it contains a considerable portion of young population. The population of age groups 19 – 39 years is of great potential for the business. Another opportunity is the rapid development in the technology industry and the growing population that attempt to explore new and advanced devices to pursue the trend. The major threat will be Starbucks, which has a well-established outlet in Sunnyside. Apart from Starbucks, there are also various other coffee shops in the region which can pose a threat to Cafe Gam Sung. The strength of Cafe Gam Sung when compared to other players is that this is not an exclusive coffee shop. Cafe Gam Sung is a Coffee/Tea shop with a focus on technology merchandizes. The main weakness is that Cafe Gam Sung, being a new player, has less experti se in the field compared to the established players. Competitors Some of the major players in the Sunnyside are Starbucks, Baruir’s Coffee, Cafe Marlene and New Post Coffee Shop. Starbucks: Starbucks is the most established coffee shop in Sunnyside. The shop is so popular that people find it hard to get a seat because of the rush. Wi-Fi is also free at Starbucks Sunnyside. Therefore, customers usually spend more time at the shop. They also offer free refill of coffee when the customers spend more time in the shop. This Starbucks outlet also has a friendly staff. Servings are coffee and teas like in any other Starbucks outlet (Yelp, 2012). New Post Coffee Shop: New Post Coffee Shop also serves diners. But this place seems to be least preferred by the customers. People are