Entrepreneurship and Innovation EI-701
New Venture Strategy - with Marking Guide
Lecturers – Aimi Wood
Group Strategic Marketing Planning Report
HASAN MAHMUD ID: 1311055 LIHUA YE ID: 1401020 MOHAMMAD ARAFAT RAHMAN ID: 1304030 MOHAMMAD MATIUR RAHMAN ID: 1404017 NUSRAT JAHAN ID: 1402096
Hand in Date: Monday, December 01, 2014
Word Count: 3550 apx.
Business Model for “The Café House”
New Venture Strategies
i. Product Strategy
As a young venture, it is essential to decide what products we are going to produce and sell. The quality of products decides if we could attract and retain the customers. In consideration of this, we plan to offer customers coffee extracted from imported organic and high-quality coffee beans, which will be included and mentioned in our promotion strategy. High quality tea will be in our drink menu, too. Differing from the tea offered by other shops, our tea will be classified and imported from different countries all around the world. For example, we will offer Chinese green tea such as Longjing and Biluochun, which are popular and considered high quality in China. Besides, we plan to offer Chinese Oolong tea such as Dahongpao and Tieguan yin. As there is a large number of immigrants from Asia, our product strategy will succeed because Asian people have plenty knowledge of tea culture. One of our promotion strategies will focus on introducing tea culture by displaying posters in shop and other places, which will attract kiwi customers and other immigrants, because most of them nowadays pay more and more attention to healthy drinks and diets. Therefore, our promotion strategy will focus on health, too. Apart from coffee and tea, we are going to offer fresh cooked desserts, breakfast, lunch and dinner. For desserts, we will produce kiwi flavor desserts muffin, pavlova, cakes and so on. To differentiate our products from other shops, we will not only focus on kiwi flavors but also produce and introduce our own unique flavor. For breakfast, we will focus on kiwi flavor, too, such as kiwi pies, egg and bacon, and so on. We people come to CBD for work, they will not have much time to sit down and enjoy the breakfast. So we will offer both dine-in and takeaway service. For takeaway service, we will make our package special and identifiable, which is part of our marketing strategies. By doing this, our promotion and advertisement will penetrate in public when customers carry our food around. For lunch and dinner, we will offer both dine-in and takeaway. In addition to the normal menu, we are going to offer special menu each day to attract customers.
As our aim is to provide healthy and high quality food, the price decided will be a little bit higher than the other shops. Our outlet will be located on Queen Street where there are an intensive flow of passengers such as working people, students, tourists, and so on. There will be around 40 seats in the shop. The trading hours will be from 6am to 9pm. Our estimation is to serve 200-250 customers each day. We target our market on the medium and high income class in Auckland CBD. This group of people will have the capacity to afford our high quality food and drinks. Our second target customers are students and tourists because we believe many of them will be interested in our food and service once our brand is built and acknowledged.
As the food and drinks we offer are necessities for people each day, plus we are going to offer high quality and tasty products, we believe our products and service will be widely accepted and popular in Auckland CBD.
ii. The Go to Market/Sales Strategy
Our marketing strategy will be focused on getting new people to come in, holding the current customers, getting customers to stay more and