Submit an outline of your marketing plan to your instructor for review and feedback. Be sure to include the following in your plan:

Company overview
Objectives or goals
Situational analysis
Segmentation, targeting, and position analysis
Marketing mix

ANSWER

Marketing Plan for Introducing a coffee Roasting business in the United States

Company overview

The Coffee Roasting company is a startup company in New York City in the United States. It aims to target both the young and the old who are coffee enthusiasts and can enjoy different tastes and flavors of coffee. The company targets coffee users in cafes and restaurants, where takeaways and sit-ins are all allowed. The startup aims to use the finest coffee beans and distinguish its coffee from its competitors in the country. The company aims to have a strong marketing strategy to ensure that consumers can recognize the firm’s special coffee.

Objectives

1. The firm aims to attract a massive prospective consumer base of coffee enthusiasts, which will lead to increased revenue from the sales, and ultimately lead to a huge profit margin
2. The company aims to position itself as the leading coffee roasting company in the US and outdo the competition trough producing high-quality coffee

Situational analysis

 Strengths

1. The company has the required amount of capital to start the venture, hence not penetrating the market.
2. The city of New York has a huge population, hence providing a high number of prospective consumers, which is a major advantage to the firm.

• The firm has many experts in the coffee sector who will enable it to attain its set goals and objectives.

Weakness

1. The firm lacks prior experience in the coffee sector.

Opportunities

1. A suitable working environment for the firm in New York City with collaborative agencies and government authorities(Miller, 2020).
2. The opportunity for further growth giving the rising number of coffee lovers in major cities across the United States.

Threats

• A huge threat of many competitors with similar establishments in New York City

1. A huge threat of many regulations and bureaucratic procedures before acquiring the required licenses for the company
2. A possible threat of introduction of new regulations which may hinder the company from exploring its overall potential hence limiting it from attaining its set goals and objectives (KAVANAGH, 2019).

Segmentation

The major market segments to target will include persons who love working in coffee shops, enthusiasts of coffee, and those who like having regular coffee dates in coffee shops and malls. Lifestyle is another major segment for the firm since people who like hanging out in quiet areas are some of the main coffee enthusiasts who are likely to be prospective consumers.

Targets

The company targets both genders since they will be valuable in supporting the business. The young adults aged between 20 and 35 are the major targets for the coffee company since they are the hugest coffee enthusiasts in the city.

Position analysis

The firm will wish to establish itself as the provider of quality roast coffee, which will be affordable compared to other competitors in the city.

Marketing mix

Product

Roasted coffee sold in cafes, restaurants, and coffee shops

 Price

To be sold at a relatively affordable price as compared to the competitors within the city

Place

New York City in the United States

Promotion

 Social media platforms such as Facebook, Twitter, and Instagram will be the most used platforms for marketing. Other platforms will include the use of Mainstream media such as Tv and dailies. Others will include the use of Billboards across the city and also giving away pamphlets.

References

KAVANAGH, C. (2019). New Tech, New Threats, and New Governance Challenges: An Opportunity to Craft Smarter Responses? Retrieved from https://carnegieendowment.org/2019/08/28/new-tech-new-threats-and-new-governance-challenges-opportunity-to-craft-smarter-responses-pub-79736

Miller, B. (2020). New york has a suitable working environment. Retrieved from https://www.bizjournals.com/newyork/news/2020/06/25/new-york-city-ranks-second-for-worls-best-tech.html