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Beyond the Bean

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by

Annie Kwok

on 1 April 2014

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Transcript of Beyond the Bean

What is our business?
Uncontrollable
Variables

Problem Statement
S.W.O.T. Analysis
BEYOND THE BEAN - Case Analysis
As a novel coffee shop in a constrained recreation economy, which marketing scheme would enable Beyond the Bean to best capture the market in London, Ontario?
Consumers
Competition
Direct:
Business that provided social and recreational experience among friends.


Indirect:
The major coffee shop located near their business

Company
Brand new company 2012

Concept unknown by the general public

Similar business succeeding in Toronto

Offer a new type of entertainment
Strengths
Weaknesses
Opportunities
Threats
• Innovative café
• Differentiated atmosphere
• Multi-purpose business
• Relatively cheaper product prices than competitive businesses
• High growth rate in the industry
• Entering a new market with no previous experiences
• Business idea is based on a new social trend
• Small start-up budget
• Struggling to create an effective promotional plan
• Large potential target market (students and young professionals)
• Relatively inexpensive form of recreation that attracts people
• Unique business idea
• Expandable business
• Entering an unknown market
• Similar direct and indirect competitors that have large market shares
• Unclear consumer behavior trends in a new market segment
Target
People that want to socialize with friends in a relaxed environment for modest fees
Positioning
Controllable Variables

Possible Alternatives
Price
Promotion
Product
Place
- Fix price of 6$/person
- Hourly rate of 8$/table
of six people
- Social media
- Newspaper advertisement
- Posters in Universities
- Social recreational café that specialize in board games
- Café shop on Richmond Road in London Ontario
Beyond the Bean has the competitive advantage of being the only business that combine board games and cafe experience.
Alternative A
Alternative C
Alternative B
Competitors
Market Potential
Consumers
How might competitors respond?
Review their target segment

Expand their business services boardgames

Lower prices to be competitive
Direct
Indirect
Business that provided social and recreational experience among friends.

• Fleeway
• Palasad North
Students
Professionals
Consumers
Psychological Influences
Situational Influences
Sociocultural Influences
How might consumers respond?
College and universities students, Young professionals.
Workers, families and retired workers.
Seek for entertainment and adventurous to try new things.
Seek to spend time with their social group
Promotion plans, trendy board games
Friendly customer service, tasty drinks, calm atmosphere
Following new trends that are popular among their peers

Being surrounded by people of same age that share common experiences
- They might come with their friends word of mouth
- They might share their experience on social media
- They might be a bit apprehensive about the concept of board games
- They might not be interested in playing board games
- Possibility of becoming regular clients if they enjoy their experience
- They might brings family members with them
High industry growth for this new concept of recreational café

An expandable business with modest fees

Growth of popularity toward board games
PROS
CONS
PROS
CONS
Largest market segment

Entire market is concentrated in one place

Acceptable mobility

Cost-effective promotional options
Liability from serving alcohol

Less purchasing power

Seasonal student population
Targeting Western University students - 6$/person
Promotion via Facebook, Western Gazette newspaper/website, Posters, and Groupon - Wi-Fi connection
Alcohol served.
Targeting High School students - 8$/hour- Promotion via Facebook, London Free Press website/newspaper, Posters Wi-Fi connection - No alcohol served.
Spending psychology

More purchasing power

More free time, smaller workload

Usually comes as a group
Lower margins from not selling alcohol

Dependent market segment

Lower mobility
Less receptive to board games culture
PROS
CONS
Compatible market segment:

Large segment of coffee drinkers

Nostalgia value of board games

High mobility to the café
Targeting young professionals - 8$/hour- Promotion via London Free Press website/newspaper, Groupon and Facebook - No Wi-Fi - Alcohol served

Liability from serving alcohol

Mature psychology:
Possibly limited interest for board games

Limited availability due to daily working hours
Recommendations
Coffee Drinkers
Board game enthusiasts
Groups of friends
People who are lonely and want to socialize
Price
Board Game Pricing:
$6 per person fixed
$8 hourly per table
Promotion

Newspaper advertisement
Posters in Universities
Product
Social recreational café that
specializes in board games
Place
Richmond Row

Right next to Downtown
4km from Western University

The major coffee shops located nearby
Alternative B
Breakeven Revenue
Estimated Market Share
Expected Profit Margins:
10.49%
-7.51%
-50.03%
Alternative B
13, 032/36

$12.00

0.94%
Alternative A
24, 030/67

$8.05

0.98%
Alternative C
12, 063/34

$19.00

1.16%
yearly customer volume/ daily volume

Average customer sale

Required market share to breakeven
Full transcript