Marketing Plan “Beyond the Bean”
For over a year David Greig and his partner Angela peck had been working on the idea of opening a board games café called “Beyond the Bean” in London, Ontario. His business plan is nearly to be complete, only the marketing plan for his proposed venture is still needed. Beyond the Bean is going to be a café that specializes in gourmet coffees and related beverages and at the same time offers the opportunity to rent a table were customers could enjoy the pleasure of playing board games. Issues
The partners have no clue about what the most profitable target market, product pricing and final product offering is. Furthermore, the partners need an excellent promotion plan to familiarize Beyond the Bean with their target market. Goals
The partners have a few goals set. The social goal is to create and maintain a safe environment for as well its customers as for its employees. Their financial goal is to have reached at least a turnover of $240.000 after 3 years. Actions to take
There are also a few actions that have to be taken by the partners. First of all, the market to target their promotion on has to be selected. Next, a suitable promotion plan has to be created to attract their target market. Finally, the product pricing and final product offering needs to be decided upon. Plan
The target market will carefully be selected based upon the size of the target group and the expected profitability. The costs of promoting Beyond the Bean have to fit the promotion budget of $6.000 which is a relatively small budget, so the promotion plan will mostly be based on the costs of the promotion tools. Moreover, the partners have two possible pricing scenario’s to decide from, the product pricing will again be based upon profitability. The final product offering can differ from also serving alcoholic beverages in the café or only non-alcoholic beverages. The final product offering will be based on suitability, convenience and costs. External Analysis
The market analysis
By focusing on social interaction “Beyond the Bean” has effectively implemented a local differentiation strategy. 1“Beyond the bean” will be launched as a café that specializes in gourmet coffees and related beverages where customers can also rent tables and play board games. 2 Its target market consists of people between the ages of 18 and 30 years and neither gender or ethnicity will constitute a basis for segmentation. The ideal atmosphere for the café will be a safe environment where people can enjoy themselves with different (board-) games and a high quality range of drinks and food. “Beyond the Bean” wants to maintain a long-term relationship with its customers, this is why the partners want to be able to provide all the necessary information about the (board-) games.
The external environment
Recent research showed that there is no similar business in the area of “Beyond the Bean”; this means that the competition in the board games café industry is very strong on a regional basis but somewhat weak locally. Direct competitors are “Fleetway” and “Palasad North”, both competitors are offering different games, high quality food and beverages. Indirect competitors are “Tim Hortons”, “Starbucks”, “Williams Coffee Pub” and “Coffee Culture Café and Eatery”. The indirect competitors offer different kinds of beverages and baked goods, and some of them a relaxed atmosphere with the availability of Wi-Fi. “Beyond the Bean” will differentiate itself by not providing Wi-Fi, because of the idea that Wi-Fi discouraged social interaction.
Also London’s economy was a victim of the worldwide recession triggered in 2008 and is still recovering. Unemployment counted 8.8 per cent; this generally led to reduced spending on discretionary expenses, including entertainment. But even though the partners of “Beyond the Bean” are aware of this unfortunate situation, they are...
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