Colloquy Grog Shop
Colloquy Grog Shop is a unique local bar/coffee/tapas house that provides a friendly, effective place where singles can meet. Colloquy Grog Shop is not your typical bar where people go to meet other singles. Colloquy Grog Shop has a unique service called the structure conversation system that is quite effective for allowing singles to meet each other and provide them with valuable insight into the other person through reflective conversation. The structured system provide an atmosphere that lowers inhibitions and breeds confidence allowing singles to meet other singles and gain insight into their personality by way of thoughtful discourse. Meeting people is one of the largest hurdles 25-45 year old singles face. Colloquy Grog Shop provides this group with an effective solution to this problem. Situation Analysis
Colloquy Grog Shop has just begun business, and marketing is essential to its success and future profitability. The bar offers a place for people to meet in a comfortable, person-meeting environment. The basic market need is place where singles can meet new similar people. Colloquy Grog Shop uses a sophisticated conversation system to enhance and facilitate singles meeting each other. Market Summary
Colloquy Grog Shop possess good information about the market and knows a great deal about the common attributes of the prized and loyal customers. Colloquy Grog Shop will leverage this information to better understand who is served, their specific needs, and how the Grog Shop can better communicate with them.
| | 2001| 2002| 2003| 2004| 2005| |
Potential Customers| Growth| | | | | | CAGR| Singles| 9%| 210,987| 229,976| 250,674| 273,235| 297,826| 9.00%| Non-singles| 7%| 134,432| 143,842| 153,911| 164,685| 176,213| 7.00%| Other| 0%| 0| 0| 0| 0| 0| 0.00%|
Total| 8.23%| 345,419| 373,818| 404,585| 437,920| 474,039| 8.23%|
Colloquy Grog Shop is a unique bar/coffee shop/tapas house that is organized to try to facilitate new friendships. The Grog Shop will offer a changing menu of tapas, microbrews, and assorted coffee drinks in conjunction with a structured conversation system. Colloquy Grog Shop seeks to fulfill the following benefits that are important to their customers. * Selection: a creative choice of food and drink and a well-constructed structured conversation system. * Accessibility: the patron will gain access to the Grog Shop with minimal waits and long business hours. * Customer service: the customer is ALWAYS right.
* Competitive pricing: all products will be competitively priced relative to the competition. Market Trends
The market trend is headed toward a more sophisticated customer. The restaurant/bar patron today is more sophisticated in a number of different ways: * Food quality: the preference for higher-quality ingredients is being reinforced as customers are being subjected to an increasing number of options. * Quality conversation: patrons are recognizing intellectual conversations can be had in bar settings and would prefer this over normal bar talk. * Access to meeting people: people are tired of being single and are looking for ways to meet like-minded individuals.
In 1999, the global bar/restaurant market reached $24 billion dollars. Alcohol sales are estimated to grow by 9% for the next few years. This growth can be attributed to several factors. The first factor is American's reliance on alcohol for socialization. This factor is intuitive as alcohol breaks down social inhibitions. Another factor is the trend to eat and drink outside of the home. This occurs as Americans work longer and longer hours during the week. Eating and drinking out is a convenience that many are willing to pay for. It also provides contact with more people. SWOT Analysis
The following SWOT...