Question

One of your friends is contemplating opening a coffee shop near your college campus. She seeks your advice about the size of the prospective customer base and how to market the business according to the four P's. What strategies can you share with your friend to assist in launching the business?

Answer 1

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• Price:

1. The coffee shop being near the college will have more customers as students.
2. So, the price in the menu should be satisfying to their level.Neither too low nor too high.

• Maintaining Quality as well as quantity

1. Even if the cost is fitted , the quality and quantity must not be compromised.
2. The coffee should be brought in good quality that can be easily acceptable.
3. A basic medium sized cup is a good quantity because neither it will get wasted nor will it seem less in amount.
4. Small and large cups can also be a choice for consumers with a varying price.
5. The product should be available at every time to give a satisfying service.

• Product:

1. A product should always have varieties.
2. The more varieties we provide, more the range of consumers widen.
3. The product here can be varieties of coffee, like plain black coffee, coffee with milk, Cappuccino, etc.

• Knowing the needs beforehand :

1. A survey or a questionnaire can be prepared and each student of the college can be asked to fill it to see what product they prefer most.
2. This will help us in distinguishing the cost given to each production as well as will determine the production rate.

• The Promotion:

1. The best promotional time would be a gathering or a function.
2. We can easily convey our message and showcase our product at a time to most of the students, staff for being our future customers.
3. The College has an upcoming fest/ cultural programme being organized and the coffee should take full advantage of this.
4. They should provide good quality hot beverages to the students to try out and make the first impression as the best impression.