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Industry & Market Analysis - Essay Example
Pages 12 (3012 words)
Student ID Number & Code Date Industry and Market Analysis: A Coffee Shop in Smithfield Introduction Dublin is the capital city of Ireland. Specifically Smithfield is located in the Northern side of Dublin…
In response to the continuous economic development in Smithfield, this study will purposely conduct an industry and market analysis for a coffee shop in Smithfield, Dublin. Basically, the proposed coffee shop is totally different from a typical coffee shop. On top of the high quality service, this particular coffee shop will offer added services such as the use different types of IT and communication facilities like printers, fax machine, free access to the internet, and so on. As part of examining the coffee industry in Dublin market, a Porter’s five forces analysis will be conducted in this study. After discussing the coffee shop’s target market, its expected revenue will be estimated based on some assumptions that are related to the company’s target market. After analyzing the market trends, strategic ways on how the company will increase its competitive advantage over its close competitors will be tackled in details. Industry Analysis In general, the Michael Porter’s Five Forces Analysis can be use to analyze the market competition within the coffee shop industry in Smithfield, Dublin. Through the use of the five forces framework, the business owner can easily identify internal and external factors that could directly or indirectly affect the bargaining power of its accredited suppliers and prospective buyers. ...
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