The Mixed Market - the Small Business Owner - Iced Coffee's with Different Flavors

The Mixed Market - Small Business Owner

My company has decided that we want to sell a particular product or offer a service? This

product will be based on Coffee. Not just hot coffee's - but Iced Coffee's with different flavors.

As the company grows we will introduce 2 simple baked goods, English Scones and muffins.

Deciding to sell these certain products will keep it simple in the beginning. As my company

action plan will employ the market mix, and the essentials of the four P's that will enable me

access to get the goods and services to the customers that I am targeting in my local area.

The action plan is called the "Marketing Mix". The marketing mix is one of the biggest and most

critical decisions that a company can make. A bad marketing mix can result in poor performance

and the potential for financial losses. One has no wish to be alone with a great cup of coffee and

a Blueberry Scone watching the Casey Anthony Trial in an empty Coffee Shop. Now that's a

bloody nightmare there.(Fulton et al, 2006)

The Origins of the Market Mix Plan

It is well known the marketing mix plan created and well defined by McCarthy some forty

years ago. It is commonly used to date as the standard outline and set of marketing tools that a

firm uses to pursue its marketing objectives or goals (Kotler and Keller, 2006). The marketing

mix is then broken down into four distinct categories. These categories are called the four P's or

Product, Price, Place, and Promotion. The business goal of the four P's will hopefully be the aim

of attracting new customers - and then even further - retaining the new customers.

The market mix plan will help target the market that a company has identified. All four P's

of the marketing mix are essential and are interrelated (Perreault and McCarthy, 2005).

In order for my company to successfully implement a new marketing mix, a careful and well

structured research of the Coffee Industry and Sales will be implemented. Along with the 4 P's (as described above), I will also be using an analysis plan commonly called the "SWOT" analysis. This along with the 4 "P"'s will help ensure a thorough extensive business plan. The SWOT analysis can help to identify the areas that a company can use to take advantage of, and also help one stay clear of the many roadblocks a new business faces and hinder the success of my marketing mix plan. After studying all the elements of the SWOT analysis the ideas behind opening my Coffee business will be seen more clearly, and thus I will be able to put all my focus on the marketing mix and going forward with the 4 "P"s. (Davids and Newcomb 2006). This same marketing mix plan that was generated some 40 years ago I will be using to pursue my marketing objectives and goals. I will be studying the marketing mix as it is broken down into four distinct categories. Remembering the four categories - The four P's, which are Product, Price, Place and Promotion. Then the whole idea here is to attract and retain a strong customer base, and identify my company as a local leader in Coffee Sales. Many new business owners claim, "Location, Location, Location". But here in this research paper I will describe how important it is to implement all 4 P's in the market mix plan. First let's go over the definition of SWOT and its asset in the market mix. SWOT stands for; the four elements and analysis of SWOT are listed below. (Davids and Newcomb 2006)

Strengths

The strengths of an organization can include niche items or services that the company specializes

in and helps to separate it from the rest of the market. This is the area where I will have to focus on having the best quality cup of coffee at the lowest prices in my customer's vicinity.

One of the strengths of a company could be the corporate and organization structure that

promotes growth, profitability and the ability to drive down costs and possibly in the future

creating synergies with other partners and divisions. The strengths of an organization could

include customer's preferences and positive customer service interactions actions that might be

experienced. (AIU Online : Oberecker, Eva M; Diamantopoulos,

Adamantios. Journal of International Marketing, Jun2011, Vol. 19 Issue 2, p45-72, 28p)

Evaluating strengths can also be a look to the future. The strengths could be the ability to attract

new customers and hold on to established and existing customers, who enjoy purchasing my

products - which I will be keeping real simple in the beginning, hot coffee's - iced coffee's with

various flavors, and I eventually will implement the introduction of the frozen Granita Coffees as

well as the English Scones and Muffins.

Weaknesses

This area of the SWOT analysis looks to identify any shortcomings within the organization. The

weaknesses could include any areas that a company is losing sales or customers to a competitor.

A weakness could be defined as a process or system within that could be very inefficient, which

could drive up costs that could affect pricing and product decisions later in the marketing mix.

By targeting my local area - my greatest weakness would be the giant company Starbucks. The