Part V

Business Plan Part III

Student’s Name

Institutional Affiliation

Marketing Strategy

Differentiation Strategy

Miller's Coffee shop will utilize three powerful strategies to differentiate its products and services from its competitors. First, it will market its individuality through unique and confident branding. The coffee shop will sell a high-quality coffee brand and a consistent brand that demonstrates its identity and makes it stand out from the competitors (Jackson, 2020). Secondly, it will offer superior customer services that are absent in the rival coffee shops. For instance, the customers will be treated with utmost hospitality to remember the high-quality services. Third, Miller's coffee shop will offer unique packaging of its merchandizes to stand out from the competition in the coffee selling business. It will also achieve this by providing unique and tastier accompaniments to coffee.

Strategies to keep Millers off the Declining Market Segment

Miller's Coffee shop will utilize a harvesting strategy to stay away from the declining market segment. This approach encompasses sacrificing the market position to get quick profits to boost the business operations (Nguyen, 2020). It will also use the divestiture strategy to sell out and avoid the declining market. Lastly, Miller will apply its differentiation strategy to improve the quality of products and services to stay ahead of the game. This strategy will enable the company to rejuvenate demand by attracting customers.

Tables and Figures Must Be Introduced In the Narrative

Analysis of Business Opportunity

Millers Company has three primary business opportunities that can develop its business. First, it can utilize innovation and technological techniques for a unique production. The company can achieve this goal through different seating arrangements, product taste, or changing work practices (Jackson, 2020). Secondly, it can establish brand loyalty by giving out rewards to customers. Such offerings can attract new customers and improve their commitment to the brand. Finally, the company can expand its target customers geographically. It can achieve this by launching new businesses in various geographic locations.

Target Market and Location

The primary target market for this shop will be deep coffee drinkers and coffee lovers. They will be mostly adults and teenagers. The shop will be a one-of-a-kind coffee shop in Overland Park, Kansas. This location will be appropriate for this coffee business as most adults that allegedly like to consume coffee pass by this street in the evenings, as discussed by (Jackson 2020). Millers Coffee House will offer coffee, espresso, gourmet coffees, drip coffees, smoothies, and lattes.

Economic, Demographic, and Geographic Factors

Various factors will influence the success of Miller's coffee business. The economy will affect this business because they are likely to appeal to certain income people (Jang, 2021). People will comparatively low income may not afford these products, thereby affecting the business. This shop's geographic location will positively impact business operations as it will enable the potential buyers to frequent the shop (Rahardjo, 2019). Finally, demographic factors around the shop's location will positively impact the business. This is because most people around the shop are adults who love coffee.

Organizational Success Strategies

The vision of the Company's Success

Millers Coffee House has a vision that focuses on leading the coffee industry. The owner believes this company will achieve this vision because of its differentiation strategy against other small coffee business shops (Nguyen, 2020). The company has strategic objectives that streamline it towards attaining financial growth and expanding its business across various geographical locations. The company looks forward to establishing over 30,000 locations globally. This way, it will effectively address its vision of becoming the leading coffee brand in the world.

Strategies for Ensuring Overall Business Success

Millers Coffee House will utilize three main strategies to realize its business success. First, it will provide free Wi-Fi at the café to attract youthful customers (Jang, 2021). This will attract more customers and hence, more profits. Secondly, it will introduce its coffee to nearby businesses that mainly deal with food. It will distribute coupons to other companies to market its products through these businesses, as Rahardjo (2019) discusses. Finally, the company will use advertising and promotions for selling its products and services to target customers and other potential customers. These strategies will give the coffee shop a boost in new customers and, therefore, higher profits.

Ethical Dilemmas of Business Strategies and their Impact on Corporate Social Responsibility

The company will possess ethical standards that will define the organizational culture, attitudes, and business ethics. These standards will determine right from wrong (Jang, 2021). Still, the company is likely to face ethical challenges such as bribes, conflicts of interest, loyalty, integrity, and honesty. These ethical issues may impact the company's corporate social responsibility in attracting and maintaining clients and workers. It may also affect how Miller's Coffee shop gives back to the larger community of Kansas.

References

Jackson, M. (2020). Business plan development for a coffee and cake shop: Business structure, SWOT analysis, and market research. GRIN Verlag.

Jang, Y. J. (2021). The role of customer familiarity in evaluating green servicescape: an investigation in the coffee shop context. International Journal of Contemporary Hospitality Management.

Nguyen, H. N. (2020). Creating an effective digital marketing plan for a small new coffee shop: ChoCoCha.

Rahardjo, B., Hasbullah, R., & Taqi, F. M. (2019). Coffee Shop Business Model Analysis. Integrated Journal of Business and Economics, 3(2), 140-152.