Marketing Research Plan: Coffee House, Research Paper Example

I. Coffee is a very popular product and is one of the top five primary products in trade (Tuvhag, 2008). During the year 2005 the overall global retail sales of coffee was about US$382 million; this was a few years after the hot-cold beverage industry boom which Starbucks had lead in the early 2000s. The idea which coffee houses bring to the public is a quiet, comfortable place to relax and be served gourmet coffee and espresso drinks (Paajanen, 2010). My marketing plan is to open up a coffee house; the market segmentation this will cover are people who are from the middle to the upper class, ages 18-45, are working and/or studying and who want a place which is quiet to either study or have a conversation with someone. These are people who live in urban areas and are always on-the-go. A coffee house would offer them a place to slow down and relax from their daily routines; a place to unwind. I have chosen this market segmentation because no matter what, this classification of people will not die down or run out. There will always be people who are working and/or studying.

II. The target market for this specific coffee house would be the younger generation from the ages 21-35, who are working and/or studying, who will come in small groups or individually. These customers are targeted because they have more buying power than people younger than 21, and they are ones who are most likely single and would have time to spend long nights at a coffee house. These people are more likely to spend their money on something like coffee and ambience, because the coffee house does not only provide coffee products, it also sells it’s mood and environment.

III.

IV. The coffee house will aim to achieve a “homey” and relaxing feel for customers where they can sit-back and enjoy their time. The name of the product will be something which is catchy and that people can remember. The coffee house will provide people with a comfortable place to conduct their work and be served gourmet and espresso coffee in a quiet and relaxing environment. The coffee house will have soothing music to set the ambient mood, and low lights for less eye-strain. Floor lamps will be available for those who are reading a book or a magazine. Outlets for laptops and other devices will be readily accessible to customers; along with this Wi-Fi connection will be available upon request of access for every customer. The operating hours will run until late nights for those who are studying or cramming for exams, or even planning for a project at work, and the coffee house will open after lunch. Tables and lounge chairs are made comfortable for people to be able to stay in the coffee house for long hours while they do their work.

References

Paajanen, S. (2010). Coffee/Tea: The Evolution of the Coffee House. About.com. Retrieved from            http://coffeetea.about.com/od/history1/a/shophistory.htm

Tuvhag, E. (2008). A Value Chain Analysis of Fairtrade Coffee. Lund University, Department of Economics.