December 3, 2012
Factor| | Tim’s Coffee Shoppe| Starbucks | Dunkin Donuts| | | Score| Comments| Score| Comments| Score| Comments| Quality| | 2| Survey shows an OK product| 2| Great coffee| 3| Good coffee| Location| | 4| Good location near campus and bus route| 3| On my way to work| 3| On my way to work| Brand Recognition| | 2| Competing with chain recognizable locally| 1| Recognizable all over| 2| Popular brand very recognizable| Profitability| | 2| Prices need to be more competitive and offer value | 3| Pricey, great profits with merchandise and popularity of product| 3| Affordable good product| Product| | 1| Ok needs improvement| 2| Excellent product, good variety| 3| Good variety and good product| Staff| | 2| Some complaints about morning staff | 2| Staff is ok could be friendlier| 3| Friendly staff| Total| | 13| | 13| | 17| |
My comparisons are based on the surveys provided in the simulation. Tim’s seems to be offering a fair product but will need to compete with a chain coffee shop. This means he will have to offer exceptional service and value to his product. He needs to set himself apart from the standard chain store. He can achieve this by ensuring a wide variety of great products. Most importantly the service will make or break any retail establishment. Having great service and satisfied customers will keep them returning. The fact that he has an ideal location is a good start. Adding conveniences like debit card capability and wi-fi will only increase business. My comparison of similar establishments I have visited shows that even the store with an affordable variety and friendly service will gain my business. Even if it wasn’t on my way to work having good quality and reasonable prices would encourage me to go out of my way. Although Starbucks serves quality products their popularity has made the prices soar. The coffee is good...