Present a tailored marketing mix

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Reference no: EM131871147 , Length: word count:1750

Business Essentials - Assignment

Elma Filiz and Henry Smith having worked together for years in the food and catering industry and having the same dream to run their own business decided to open their own coffee shop. Elma and Henry spent 12 months researching and planning the details of their coffee shop to decide on the best location, who their target market was, how much capital they would be able to raise, key competitors, what suppliers they would use and what products and services they would offer in their coffee shop and so forth. Then in January 2015 Filiz and Smith's coffee shop was opened in Islington in North London.

In order to stand out from other coffee shops that seem to be flooding the market in London, Elma and Henry decided on the following:
- To use the finest coffee beans from the Fairtrade Growing Women in Coffee Foundation in Kenya which focuses on enabling female farmers in Kenya to earn an independent income and to run their own farms (Fairtrade, 2015) as research had shown that ethical concerns were high amongst potential customers in this location. High quality tea and herbal infusions would also be sourced from the Fairtrade Foundation in Kenya

- To offer an environment that is both relaxing with a Kenyan feel to it (to continue the Kenyan influence) as well as being practical for customers' needs (including access to a power point socket for charging phones/laptops, etc. and free Wi-Fi)

- To ensure that staff (including Baristas) were trained to the highest standard and were offered a wage and development opportunities that were above and beyond their competitors

- To offer themed evenings such as board game night and chat with Nanna (for a chat and advice)
Filiz and Smith's coffee shop has a strong ethos of promoting fair trade and equality and expect their staff to respect and value these beliefs and to promote and demonstrate such attitudes and behaviour in the workplace. Staff are also expected to help out with the themed evenings where applicable such as playing short board games if customers have no-one to play with. These are areas which they highlight during the recruitment process.

Since their initial shop opening, Filiz and Smith's have opened an additional three coffee shops in and around London. However, the initial information system that was set up for the coffee shop was only structured and set up to manage the information with regards to one or possibly two coffee shops. Elma and Henry are therefore beginning to realise that this initial information system structure is quickly becoming outdated in terms of their business needs because of their continued expansion. As the demand for their Kenyan inspired coffee shop with themed evenings increasing and because International tourists have even started seeking out these coffee shops, as they are becoming known abroad, Elma and Henry have decided to focus on an overseas expansion plan.

Elma and Henry have therefore decided to focus on an expansion plan and want to open up one of their coffee shops in a European Union country. However, they are unsure as to which of these countries to expand their coffee shop into and have asked you to carry out and write up your research.

Income Statement for Filiz & Smith's Coffee Shops' for the period ended 31st December 2015

 

                               £

                 £

Sales

 

360,000

Less Cost of goods sold

 

 

 

 

 

Purchases

160,000

 

Less Closing Inventory

(8,000)

(152,000)

 

 

 

Gross Profit

 

208,000

 

 

 

 

 

 

Less Expenses

 

 

Electricity

32,400

 

Salaries & Wages

34,000

 

Rent and Rates

80,000

 

Telephone

8,400

 

Other expenses

8,000

 

Depreciation - Equipment

6,400

 

Depreciation - Fixtures

8,000

 

Depreciation - IT Equipment

4,000

 

 

 

(181,200)

 

 

 

Net Profit

 

26,800

Statement of Financial position as at 31st December 2015 for Filiz & Smiths Coffee Shops'

 

      £

(Starting value)

        £

(Depreciation)

 

      £

(Ending value)

Non-Current Assets

 

 

 

Equipment

40,000

6,400

33,600

Fixtures and Fittings

40,000

8,000

32,000

IT Equipment

16,000

4,000

12,000

 

96,000

18,400

77,600

Current Assets

 

 

 

Inventory

 

8,000

 

Cash

 

27,400

 

 

 

 

35,400

Total Assets

 

 

113,000

 

 

 

Capital

 

 

100,000

Profit

 

26,800

 

Drawings

 

(20,000)

6,800

 

 

 

106,800

Current Liabilities

 

 

 

Trade Payables

6,200

 

 

Total capital and liabilities

 

 

113,000

Notes
a. Elma and Henry raised the £100,000 capital through friends, family and personal loans. They each raised £50,000
b. The second shop opened after 6 months, the 3rd and 4th opened after 9 months.
c. Coffee machines and associated equipment cost £5,000. Each shop has two machines
d. IT Equipment includes all required Wi-Fi computers.
e. The business currently has no formal loans or external debt

Answer ALL of the following questions

1. Research and decide on a country (within the European Union) that Filiz and Smith's coffee shop could expand into. Justification for your choice must be given regarding choice of country, logical considerations, ethical considerations and the structural challenge of expanding into that country.

(Approx. 400 - 450 words)

2. Present a tailored marketing mix in relation to the coffee shop expansion plan abroad.

(Approx. 300 - 350 words).

3. What are the implications of the need for Filiz and Smith's to cover a wider geographical area in terms of a different country? Consider any impact this may have on any two of the following and show how these issues are interlinked:

a. Information systems
b. Organisation culture
c. Management structure
d. Gaining competitive advantage
e. Personnel and managing staff issues
f. Supply chain
(Approx. 250 words per each point)

4. Using the following financial information, evaluate how their profitability and liquidity may impact on decisions available to them.
(Approx. 300 - 350 words)

5. Write a concluding paragraph about the overall viability of overseas expansion at this stage.
(Approx. 150 words)

Use Harvard referencing style

Reference no: EM131871147

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Reviews

len1871147

2/20/2018 6:27:47 AM

3. Explanation and Understanding (30%). Have you shown understanding of the wider business issues affecting Filiz and Smith’s Coffee Shop? Have you explained and justified your answers to an appropriate level? 4. Professionalism (20%). Is your work tidy and well laid out, with appropriate structure and standard of concise and effective written English? Have any diagrams and illustrations used been well chosen and correctly presented and is the work of appropriate length? Note that you are expected to show you are ready and able to engage with a level 4 degree course so superficial answers will not be awarded pass marks. A good set of answers will therefore be well researched and presented, argued logically and effectively, using examples from credible sources to illustrate your points and referenced in line with the University of Roehampton’s Harvard Referencing guidelines.

len1871147

2/20/2018 6:27:40 AM

Formatting • Arial. Size 12 • Word document (not a pdf) • 1.5 line spacing Marking Schema All work will be marked according to the following marking schema: 1. Evidence of research (30%). Have you shown that you have researched around the subject, used appropriate references and have you made use of these sources to inform and enhance your answers? 2. Logical flow and application (20%). Have you addressed all the required points of the task in a logical and consistent manner, demonstrating some ability to apply theory to practice?

len1871147

2/20/2018 6:27:23 AM

Instructions All submission of coursework will be online via Turnitin on the module's Moodle site. The Roehampton Harvard Referencing system should be used for any resources used as part of your research. Final submission deadline is 29th, 2pm Your student number MUST be included in your document on each page and a word count given at the end of the document. Word count: 1,750 words - guidance has been provided regarding recommended word count for each question. Use appropriate academic sources, referenced in accordance with the University of Roehampton’s Harvard Referencing

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