Marketing Paper

March 7, 2018

Describe or list the feedback you received on Part A of your marketing plan. Explain how you will use the feedback to improve your plan.

The feedback that was received from Part A of my marketing plan are as follows:

A) The mission statement should incorporate what is reflected in the executive summary which reads as: Jolly Java believes in supporting the community by hiring local talent which is why we partner with the community college to employ students and provide them with growth opportunities within the business.

B) Need to determine appropriate methods of measuring short and long term goals.

C) How would increasing minimum wage within the state impact Jolly Java?

D) How would legislation around sustainable coffee production impact consumers in the U.S.?

E) Need to provide a good needs analysis

The changes to the marketing plan will be as follows:

A) Jolly Java will change the mission statement to highlight our commitment to the community.

B) The appropriate method to measure the short- and long-term goals for Jolly Java will be to use the SMART method which stands for Specific, Measurable, Attainable, Relevant, and Time-Based. (www.balancesmb.com) By using this method, Jolly Java will be able to achieve the business goals of marketing the business.

C) Jolly Java will need to generate enough revenue to account for the rising minimum wages within the District of Columbia, Maryland, and Virginia (DMV) area. The current goal is to increase our sales goals by averaging 100 customers per day. However, this may not be enough and need additional research to calculate the best way to get additional revenue.

D) The marketing plan will be amended to discuss legislation around sustainable coffee production that will impact coffee companies. The coffee genetic resources are under threat due to loss of the forest ecosystems housing these valuable gene pools as well as some of the threats contributing to the erosion of coffee genetic diversity including global climate change. In the coming decades, climate change will have a huge impact on coffee production.

E) Jolly Java will need equipment to run the day-to-day operations. After conducting the analysis, we will need the following:

· We will invest in an automatic espresso machine that times the shots so that every cup is the same. We will also develop the skills of the baristas by providing training for two weeks on how to operate the machine.

· Purchase a drip coffee machine that is big enough to brew a few gallons of coffee for refills for customers in a hurry and people who just want a regular cup of coffee.

· Air pots to hold the coffee while a fresh pot is brewing.

· Refrigeration space for the vaious types of milk and food that we will be serving.

· Cooking equipment to heat the hot food items

· Sink and/or dishwasher to clean and sanitize equipment and dishes

· Tables, chairs, sofas, and armchairs. We will need dishes such as; cups, glasses, plates, bowls and utensils.

Develop a branding strategy for your product/service that covers the brand name, logo, slogan, and at least one brand extension.

The branding strategy for Jolly Java is to build our brand by using the most popular resource, social media. Social media is the best platform to use to help expand and grow the business. Jolly Java will post advertisements and marketing materials that describe the atmosphere where the community can come together and relax and have an enjoyable experience while listening to local talent at our Open Mic nights. We will use the internet to market the business by way of social media outlets such as Facebook, Instagram and Twitter. This will keep our existing clients up to date with the upcoming events and new coffee or food items being offered. We can also use this platform to help reach new clients. Jolly Java’s logo will be displayed on the store and the website, social media outlets, brochures, and flyers etc.

Our slogan: A place where the community comes together to live, laugh, and have a jolly time. Marketing Management states the advantage of brand extensions is that consumers can form expectations about a new product based on what they know about the parent brand and the extent to which they feel this information is relevant. It may be easier to convince retailers to stock and promote a brand extension because of anticipated increased customer demand. An introductory campaign for an extension doesn’t need to create awareness of both the brand and the new product; it can concentrate on the new product itself. (Kotler and Keller, 2016). Jolly Java will target the convenient stores by way of brand extensions. We want to let the convenience store managers know the benefits of having our products in their stores. We will send brochures via social media and email to help spark interest. We will have our sales team schedule presentations of our products for the store managers. Once we present the benefits of having Jolly Java in their stores, we can give them a special discount on our products if they decide to buy in bulk. This could be there incentive to buy our products.

Thoroughly analyze the primary and secondary markets that you want to target. Thoroughly include the demographic profile, psychographic profile, professional profile, geographic profile, and any other segmentation variable you deem necessary.

The primary market that we want to target is coffee drinkers who can be college students and business workers who need a pick me up to start their day. The age group would consist of 18 to 45-year-old. The secondary market target market will be local artists who need a place to showcase their talent. The demographic profile of the people who are more likely to frequent Jolly Java is the ages between 18 to 45 all ethnicities and gender. This targeted age group aren’t getting enough sleep at night due to working more hours or up studying so they need something to get them through the day. The professional profile shows that coffee use increases with income. The executives will spend money for the fancy coffee drinks that cost $5 because they are not watching their budgets. Geographically, people in the metropolitan areas tend to go to coffee shops for the variety of coffee drinks and food items. Rural communities prefer to make coffee at home.

Prepare a positioning statement. Include a perceptual map that shows your company’s position against its competitors. From this map, create a statement that depicts your position.

Positioning is the act of designing a company’s offering and image to occupy a distinctive place in the minds of the target market. A good positioning helps guide marketing strategy by clarifying the brand’s essence, identifying the goals it helps consumers achieve, and showing how it does so in a unique way. (Kotler and Keller, 2016) The positioning statement for Jolly Java states:

“A coffee shop where neighbors and friends in the community can gather and enjoy coffee, home baked pastries, and artisan sandwiches in a relaxed, friendly environment. Jolly Java is a coffee shop where we purchase our coffee beans and food items locally to boost the economy in the community. Unlike traditional coffee shops, Jolly Java offers Open Mic nights to showcase local talent.”

According to the perceptual map, Starbucks has a higher market share but have higher prices and functional benefits. Einstein Bagels is second and also have higher prices but offers the emotional benefits. Dunkin Donuts has lower prices but offers functional benefits. Jolly Java offers lower prices and emotional benefits compare to the competitors. The consumers would like to have the benefit of lower prices and the emotional benefits.

Examine the relevant consumer behavior for your target market. Explain the main reasons why the brand name, logo, slogan, brand extension, as well as the positioning statement are right for the identified target market.

Jolly Java’s target demographic market would be male and female from all ethnicities. The target age is 18 – 45. The reason why I am targeting that demographic is because they tend to be frequent coffee drinkers and would appreciate a venue where they can relax and have a cup of coffee while enjoying some entertainment. The business will resonate well with our target demographic since we plan to be a place where we offer a relaxed environment right in the community where college students or professionals have a place away from home to do homework, meet up with friends or conduct business. When creating a business that is geared towards this demographic it is important to remember that the slogan and logo has to appeal to the entire group, by making the logo with gender neutral color schemes and the slogan that is inviting and not overbearing and that makes people not want to spend money.

REFERENCES

Kotler, P., Keller, K.L. (2016). “A Framework for Marketing Management”, Sixth Edition. Northwestern University, Dartmouth College.

Webb, C. (2019, January).” Marketing Plans for a Coffee House” Retrieved from https://www.smallbusiness.chron.com