European Journal Of Business Social Sciences Essay

Question:

Discuss About The European Journal Of Business Social Sciences.

Answer:

Introduction

Brewtown is located in Sydney in Australia where the customers are served with specialised coffee. The caf? has improved its offerings to the customers based on their tastes and preferences. The owner of the caf? is Adam Wang and he noticed that the customers in the region were fond of single origin coffee and started to offer them according to their liking. This led to the opening of the company in the year 2014 in Sydney so that it can serve the customers in a proper manner, which will help them in increasing their level of satisfaction. The caf? made it a point that the different kinds of beans that were being used for the coffee were being roasted on a weekly basis. This led to the change in the taste of the customers as in one week the company would serve Ethiopian coffee to the customers where as in the next week they would provide Brazilian coffee.

Situational analysis

This section should identify the current market and major segments for your organisation and review key consumer needs and factors that may affect consumer purchasing

The company makes it a point to cater to the different needs of the customers so that it can result in increasing its level of sales in the market. The major segments that the company targets are the customers who are in the age of 25 years and above. The main reason for targeting these customers is that it will allow the company in increasing its profit levels, as it attracts the different income groups. The company makes it a point to cater to the different needs of the customers by providing them with the best quality of single estate coffee. This allow the customers to be attracted towards the company. It has also affected the purchasing of the customers in a positive manner, as the customers are able to get the choice of the coffee that they want in the market within an affordable price range (Armstrong et al. 2015).

Table showing the income levels of different age groups

The above chart shows the frequency of income between the different age groups that are present in the market. It can be seen that the Australian economy has a large amount of disposable income in the age group of 25-36 years, as they work in different sectors that enables them in having a differentiated level of income. The major strength of the company is that it can attract the people of this particular age group as they are willing to spend in the cafe, as the company is able to provide the coffee according to their taste and preferences. The goal of the company is to provide the products to the local customers in an international standard so that its objectives and financial goals can be met in a proper manner.

SWOT analysis

The strength of the company is that it uses freshly brewed coffee seeds, which are of better quality so that it can enhance the taste of the customers. They also use coffee that are of finer quality so that the customers can prefer the company over the rivals. The company operates in an independent manner, which helps them in changing their goals and objectives so that it can result in increasing the satisfaction level among the customers. The new offerings that are provided by the company on a weekly basis helps in changing the taste and preference of the customers as well. This is a major strength for the company, as it provides variety to the customers. The company also maintains the surrounding environment, which has helped in reducing the level of pollution to a great extent. It also uses the advanced coffee equipment so that the products can be given to the customers in a sustainable manner (Wrenn and Mansfield 2014).

The major weakness of the company is that the rising prices in the goods that are being provided by the suppliers. This has resulted in increasing the level of price of the finished products among the customers as well. To maintain a better quality of coffee products in the market, the inflated costs will hamper the level of reputation that the company has in the market. It may also affect the quality of services that are being given to the customers. The company also has another weakness that is the sound of the coffee machines that is too loud. Since the company works every day, the employees are sometimes misguided with the rosters that are being maintained for the weekend and the morning shifts. This has increased the level of dissatisfaction among some of the employees as well (Chaffey and Smith 2013).

The opportunities of the company is that it can provide the products to the customers that will help them in maintaining an active life style in the market. The use of nutritional benefits by the company will help in boosting the level of stamina among the consumers so that they can be fit and active. The company also needs to provide flexible shifts to the employees so that they can be motivated in serving the organization in a better manner. The use of advertising campaigns by the company needs to be encouraged so that it can spread awareness among the people regarding the products that they want the customers to try (Baker 2014).

The threats for the company is the different competitors like Gloria Jeans and Coffee Club may hamper the reputation of the company. The waste materials in the company are rising to a great extent that needs to be recycled so that it can be sustainable in nature. The company has not taken up any policies to conserve natural water sources so that it can be sustainable and mostly relies on the water that is being supplied by the government. This has increased the cost of the company in using the necessary products to a great extent (Wood 2013).

PESTLE analysis

The political environment in the country supports the caf? industry, as it helps in collection of large amount of taxes. The government provides support to the caf? industry and looks in to the matter that is is competitive in nature. The government had launched the Australian Competition and Consumer Commission (ACCC) in 1995, which helps in protecting the rights of the consumers. The competitive pricing policies in industry allows the company in serving the best quality products to the consumers so that it can help in increasing their level of satisfaction (Tomczak, Reinecke and Kuss 2018).

The country has been facing an economic crisis since 2009 and its rate of Gross Domestic Product (GDP) had decreased by 0.8 percent due to the crisis. This had to be improved with the help of roper funding system that was provided by the government. This led to the expansion of the economy by 1.2 percent and the food industry improved as well. The food industry in the country has been making good progress due to the accumulation of large amount of income in the hands of the customers (Kotabe and Helsen 2014).

The country has diverse group of culture and is mostly influenced by the British traditions, as it was a colony of the British Empire. This has led to the rise in the diverse cultures and the population is mostly cosmopolitan in nature. The rise in the advanced medical facilities has increased the rate of mortality in the country as well, which has become a sustainable challenge as well. The initiative known as Australian Working Together that was started by the government helped in increasing the rate of contribution and provide support to the social welfare so that the economy can be recovered in a proper manner (McDonald 2016).

The restaurant industry has been using the latest technologies so that it can help in reducing the cost of production so that the products can be supplied to the customers at a lower and competitive rate. The increase in the rate of innovation has helped the companies in organizing their budgets so that the consumers can be provided with better quality of products. The use of the latest technologies has resulted in increasing the purchase of food products to 53 percent (Turnbull and Valia 2013).

The changes in the legislative actions has helped in changing the operations of the company according to the needs and preferences of the customers. Additionally, the approach that is liberal in nature has helped the country in combining the retail supplies with that of the food businesses. The Intellectual Property laws that are present in the country has allowed the cafes in patenting their products so that it does not get copied by some other rival companies. This has resulted in increasing the competitive advantage of the companies in the market as well (Renz and Herman 2016).

The government of the country has taken various measures that has helped in protecting the environment so that it can help in curbing the level of pollution. The environment friendly actions that has been taken by the government has even helped the food industry in being sustainable in nature by minimalizing the level of wastes and increase in the use of recycled materials (Chaffey 2016).

Market planning theory

Marketing is an important part that helps the company in attracting the customers with respect to the products and services that are being offered by them. The caf? needs to target the right customers and segment them accordingly by taking in to consideration their needs and preferences so that the level of satisfaction can be increased to a great extent. This will help the company in increasing its level of profits in the area as well. The use of the right marketing mix by the company will help in identifying the right products that needs to be supplied at the right price so that it can attract the customers towards the business (Mooradian, Matzler and Ring 2013).

Marketing mix

The use of the proper marketing mix will help the company in promoting the products in a proper way so that the customers can be aware of the services that are being delivered. The plan of the company needs to be developed in a manner, which will help in increasing their level of profits. The development has to be done with the help of objectives that has been taken up in the company so that the process can be done in proper steps. The plan of the company is to segment the customers according to their needs and preferences so that it can help in attaining a higher level of satisfaction. This will help in providing the products to the customers at a proper price so that they can be able to purchase it. This will allow the company in increasing its level of profits in the market as well (Piercy 2014).

The 4P’s of the mix includes the product, price, place and promotion. The products of the company are coffee, which is the primary focus for the company. This is due to the fact that the company uses better quality of coffee beans so that its level of profits can be increased in the market. The price of the coffee is kept competitive so that it can help in attracting majority of the customers towards the company. The company is situated in Sydney and has gathered proper feedback from the customers regarding their tastes and preferences, which will result in increasing their level of satisfaction. The company promotes its products and services by advertising on the online and print media platforms. This helps in increasing the level of knowledge among the customers regarding the type of products that are provided by the company. The use of better communication skills in the market helps in spreading awareness among the customers as well (Solomon et al. 2014).

Analysis of internal marketing environment

The company needs to use the products that will help in attracting the younger generation as well. This will help in increasing the level of profits, as families will also accompany them. More innovative products need to be made by the company so that it can help in attracting more number of customers. This will help in increasing the attraction of the company in the market. Proper training needs to be imparted to the employees so that it can help in increasing the level of services in an efficient manner. This will also result in getting a better feedback from the customers, as their problems can be addressed in a better manner. The customers need to be segmented in a proper manner so that it can help in meeting the specifications of each segment based on their psychographic and behavioural attitudes (Ayub et al. 2013). This segmentation will allow the company in providing the products according to their needs and preferences so that the level of satisfaction can be increased in the market. The company also needs to align the culture of the organization according to the values of the customers so that it can associate themselves with the customers in a better manner. This can be done with the help of effective training programs for the employees by the organization, which will help in increasing the satisfaction level of the customers. The use of rewards and recognition among the employees will also keep them motivated within the system so that they can function in a proper manner (Johnston and Bate 2013).

The weaknesses of the company can be capitalized by identifying the right kind of suppliers so that the products that are being supplied by them can help in increasing the competitive advantage of the firm. The company also needs to invest in technologies that will provide them with a better quality of machine so that the sound that is made within the company can be minimized to a great extent. This will help in maintaining the ambience of the place so that the customers do not get disturbed by the sound of the machineries that are being used in the caf?. The roster of the employees need to done taking in to consideration the personal lives as well. This will help in maintaining a better balance with respect to the life and the work period for the employees. The the employees will also feel motivated within the workplace due to the important things that the company is taking care of in a better way.

The SWOT analysis that was conducted has shown that the company needs to address some of the issues in a proper manner. The company needs to maintain its activities in a sustainable manner so that it can help in improving its level of efficiency in the market. This will result in increasing the number of customers in the market as well. The reputation of the company can be increasing by seeking the opportunity of promoting the products of the caf? in the market in a proper manner. The use of different promotional methods will result in increasing the attraction of the customers towards the company. It will also result in spreading awareness regarding the products and services that are being offered by the company to the customers so that their interests can be increased towards the company (Renz and Herman 2016).

Marketing goals and objectives

The major objective of the company is that it will try to build its loyalty among the customers in a better way. This can be done with the help of supplying better quality of products so that the customers can be satisfied to a great extent. Another major objective of the company is to develop its innovation process on a continuous manner by keeping in touch with the customers and initiating the feedback process so that it can develop the products in a better way. The use of the single region coffee beans will allow the company in gaining a competitive advantage in the market as well (Rowley 2016).

SMART objectives

Specific

The company needs to increase its level of profits in the market in a sustainable manner and provide better quality of products as well

Measurable

The increase of the profits has to be 15 percent on a quarterly basis so that it can reach its target profit in a proper manner

Aggressive

The use of market penetration strategy along with promotional methods needs to be done so that customers can be attracted towards the company

Realistic

The profit objectives needs to be feasible and can be achieved by supplying better quality of products to the customers

Time-Bound

The profit levels that the company will achieve needs to be done within a period of 1 year (Grant 2016)

Marketing strategy

Consumer loyalty can be increased by the company by providing the products that are of better quality. This will ensure that the consumers would mostly choose the company over the rivals that are present in the market. It will also ensure that the loyalty among the customers can be increased with the help of the process of feedback so that proper suggestion can be given by the customers regarding the type of products and services that they want from the company. This will allow the company in associating themselves with the customers in a better manner (Belch et al. 2014).

Market segmentation and positioning

The company will target the customers who have a medium to a higher income level in the market. This will ensure that the company can earn a better level of profit in the market as well. The major group of customers whom the company will try to appeal is the customers who are above 25 years and less than 40 years. This is due to the fact that this particular group of customers will have a higher level of disposable income in their hands due to the different occupations that they are engaged (Parente and Strausbaugh-Hutchinson 2014).

The position of the company will be in the ‘high quality, low price’ section, as it will help the company in attracting more number of customers towards them.

The use of better quality products will help in increasing the loyalty of the customers in the market. The price that will be set needs to be attractive so that it can help in increasing the level of competition in the market. The promotion of the company will be done with the help of online and print media so that it can attract both kind of customers towards the company. The place of operation for the company is Sydney where the customers want a better experience with respect to cafes (Chaffey and Bosomworth 2013).

Marketing implementation

Product

The product of the company would be single region coffee beans

Price

The price of the products will be competitive in nature

Place

The company operates in the Sydney area

Promotion

The use of online media such as Facebook, Twitter and Instagram and print media such as magazines and newspapers

Evaluation and control

The process will be monitored by keeping a track of the metrics that will help in increasing the level of profit and increase the customer loyalty as well. At the end of 1 year the performance of the company will be reviewed so that it can understand the increase in its profit levels.

Conclusion

Therefore it can be concluded that the company needs to increase its competitive advantage in the market by deploying better level of marketing strategy, which will help in increasing its profit levels. The use of the marketing strategies in a proper manner will also result in increasing the attractiveness of the company in the market among the customers.

Reference List

Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. Pearson Education.

Ayub, A., Adeel, R., Muhammad, S.A. and Hanan, I., 2013. A conceptual framework on evaluating SWOT analysis as the mediator in strategic marketing planning through marketing intelligence. European Journal of Business and Social Sciences, 2(1), pp.91-98.

Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.

Belch, G.E., Belch, M.A., Kerr, G.F. and Powell, I., 2014. Advertising: An integrated marketing communication perspective. McGraw-Hill Education.

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