Marketing Plan - Research Paper Example

Marketing Plan Affiliation: The success of any given business enterprise is influenced by numerous factors, all of which revolve around the business aspect of an enterprise and its clientele. The primary factor that influences operational success of a business enterprise is the extent to which customer needs are addressed. In order to fully address customer needs, the tastes and preferences of the customer have to be identified and put into consideration when operationalizing strategies to capture the target market (Daviron & Ponte, 2006).

In so doing, understanding the diversity and dynamism of customers is vital as players in the industry work tirelessly to capture significant market shares.When different business enterprises target the same markets within a given industry, competition intensifies. This is the scenario observed in the coffee houses industry. While players are many in number, the target market is relatively the same. As a result, each coffee house must move swiftly and strategically to lure consumers into buying its products, thereby building a market share within the industry.

Depending on how the captured market share is managed, it can increase or decrease with time. Tim’s Coffee Shoppe competes intensively with Queequeg’s Coffee among other coffee houses. The above aspects apply to Tim’s Coffee Shoppe operations in the coffee houses industry. Tim’s Coffee Shoppe has to manage its clientele in a way that ensures Queequeg’s Coffee or any other coffee house does not win it through competitive practices. This implies that coffee houses operating in the same industry engage one another in intensive competition that could see one lose its customers to another based on the customer satisfaction factor.

The 4 P’s of marketing inform the marketing practices of many business enterprises across the globe (Pride & Ferrell, 2012). Tim’s Coffee Shoppe operates in a highly competitive environment, where players are many and competition cannot be price-based only. To ensure that Tim’s Coffee Shoppe remains competitive over its rivals, the adopted marketing strategy must critically account for the 4 P’s of marketing. The surveys presented in the filing cabinet highlight the operational strengths and weaknesses of Tim’s Coffee Shoppe.

The 4 P’s of marketing can strategically be applied to the survey information for the purpose of redesigning and revolutionizing the Tim’s marketing strategy.The product is highly rated by majority of customers. However, the shortcomings noted by a few should be used to enhance product offering and quality management at Tim’s Coffee Shoppe. Price of products at Tim’s Coffee Shoppe is rated as favorable and competitive. However, this does not rule out the need for market research in price competition in the industry.

Product promotion is well executed at Tim’s Coffee Shoppe. However, there are shortcomings noted on the side of company and employee efficiency and effectiveness. Finally, the location of Tim’s Coffee Shoppe is strategic and favorable to majority customers.In conclusion, the marketing strategy at Tim’s Coffee Shoppe should encompass diverse and dynamic factors and aspects that influence its operations in the industry. The shortcomings and weaknesses noted above should be used as a guide to improve Tim’s Coffee Shoppe’s business aspect.

The highlighted strengths should be maintained in a position that outperforms competitors. In so doing, the marketing strategy will be aligned to customer needs and satisfaction of the entire clientele.ReferencesDaviron, B. & Ponte, S. (2006). The Coffee Paradox: Global Markets, Commodity Trade and the Elusive Promise of Development. New York: Zed Books.Pride, W. & Ferrell, O. C. (2012). Foundations of Marketing. New York: Cengage Learning.