the coffee collective does brisk
business in the heart of this college
town but the shop success can't be
measured in just dollars and cents the 4
p's product price place and promotion
are important functions of any business
but they are just one part of a
company's marketing plan not the only
part the 4 p's represent the
implementation phase but you can't offer
a quality product at a fair market price
in the right place without first going
through the necessary steps of planning
Martha had always dreamed of opening up
an independent coffee house but she knew
there was a lot of competition she used
a SWOT analysis to assess her own
internal business plan and the external
environment the big corporate franchise
five bucks
turns out Cup after cup of consistent
coffee but doesn't offer much to locals
beyond the place to sit and some Wi-Fi
and the local convenience store in the
opposite corner has no amenities at all
Martha saw an opportunity she dreamed of
offering an alternative spot where college
students could study socialize and buy a
quality cup of coffee made with fair
trade beans from local artisanal
Roasters services she knew would appeal
to the neighborhood demographic sure
she'd probably have to charge a little
more but she could offer community
environment than her competition
can't match with the planning phase
complete Martha is able to put her
customized brew of the four-piece into
action by targeting the right market
segments and positioning the coffee
collective as the place for students to
come connect and drink coffee of course
when Martha evaluates your marketing
efforts the third phase of the marketing
plan
she can trace back the coffee collective
success to her unique brand of products
and services and strong customer
relationships that results in repeat
business and loyal customers after all
you don't become successful by selling
just one cup of coffee but by having a
marketing plan that helps you resell
that coffee experience over and over
again