Marketing mix model is helpful for organisations in order to expand their business operational activities in different countries effectively. In this report, a marketing mix model will be discussed in the context of Hank Marvin and Patty Smith case study of coffee shop in order to expand their business and operational activities in Europe.
Tailored marketing mix in relation to the coffee shop expansion plan abroad
Marketing mix provides solidity to the marketing strategy followed by Hank Marvin and Patty Smith to their coffee shop expansion effectively. The marketing section will include an overview of the market and industry. The 7ps of the marketing mix will help reach target markets which are discussed below:
Product: Product refers to the menu offered by firm and demands in the market which should be according to the products and services to provide strength to business plan effectively (Jewitt, 2016). The product and service should be detailed by the firm towards customers so that they can make choices on their own.
Price: Products and service price should be managed according to the customers in order to perceive product value effectively. Price is based on positioning that it sends a strong message about the value perception of products and services. Specific pricing methods can be used by the firm in order to expand their market in Europe.
Promotion: Promotion refers to a plan or communication in which potential customers play a major role (McClimens, Partridge and Sexton, 2014). Promotional activities will help to reach customers and money is a major part of it. Social media is a platform from which the firm is able to expand its market by promoting its coffee shop.
Place: Place should be in the right place that customers can easily reach them. location will be covered in the operations section of your business plan, but know what features will support your strategy. Parking, alone building, main street and square footage are some essential parts of the place.
Packaging: Visual elements in the coffee refers to packaging. The packaging should be impressive in order to attract customers in the coffee shop (Susanty and Kenny, 2015). The features and benefits should be demonstrated by the firm in order to expand their market and reach new customers effectively. Visual elements such as brand/logo, store design and decor, presentation and packaging of your coffee, and even employee appearance.
Positioning: Position describes the actual position of the firm in the market towards customers effectively. The firm should provide effective and quality products to stand in heart of consumers. Competitor analysis, services, atmosphere and quality will help to make an effective position in the market of Europe which lead towards expansion and profitability.
People: Target customers and the market should be addressed by business in order to evaluate what people think about brand effectively. Management section and employees working in firm plays a major role in this part (Tuten and Solomon, 2017). Execution of marketing strategies and marketing mix is a useful tool for the firm to set a strong market of coffee shop in Europe for expansion.
Thus, it can be said that marketing mix plays a major role in the business expansion which lead towards profitability and production. This will also help to manage operational activities according to the customer demands and perception.