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Business & Marketing
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English (U.S.)
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Topic:
Business Plan: Description Of Customer And Their Needs
Essay Instructions:
This is a business plan, and it has some sort of the marketing, my business plan is a confectionary store, it is located at the Toronto downtown, it has western style pastry and Chinese style pastry, and also traditional Japanese dessert, then I have a list, answer each questions from that list, the information and sheet shall better find on Canadian website.
Essay Sample Content Preview:
Afternoon Tea Restaurant and Store Market PlanNameInstitutional AffiliationDateAfternoon Tea Restaurant and Store
Marketing Plan
Goals of Afternoon Tea Marketing Plan
* To bring awareness to residents of Toronto about our products.
* To increase the sales of our products.
* To grow the share of our business in the market.
* To target new customers.
* To enhance the customer relationships.
* It will act as a launch to our new products and services.
* It is a way of entering the market.
* To increase our profits.
Description of Customer and Their Needs
Market Segment
Afternoon Tea will target mainly the people who work at the schools that are nearby and the people who work in the offices. There is a number of other business activities that exist in the area of location of Afternoon Tea. However, in my market research, I realized that the people lacked a place where they would eat after doing their work. The people will not need to walk for longer distances since Afternoon Tea will be there to provide everything that they need.
There are also a number of students at the school who come from different countries such as Japan and China. The students always want to feel that they are at home while they are in Toronto. One of the best ways of making someone to feel at home is by giving them their type of food. We will be offering these foods at our restaurants at an affordable price.
Most of the people are tired to prepare food in the evening after a very busy day. They will prefer taking their meals at a restaurant since they lack the time and they are tired to cook. Afternoon Tea knows the needs of its customers and it will always be there to provide takeaway foods for them and in dine services.
Target Market Profile
A store is the best option for business in Toronto. Toronto has a population of 6.1 million. Food restaurants represent 6.5% of all the total businesses that are found in Toronto. According to a survey that was released in the year 2012, the Torontonians dine out at an average of 3.1 per week and thus meaning that the city is ranked at the same place with the other cities such as Chicago(2.8), New York (3.0), Las Vegas (3.3) and Los Angeles with 3.4 CITATION Can151 \l 1033 (Canada wants Entrepreneurs, 2015). The city is also made up of a large number of youth who mostly prefer taking their meals at a restaurant rather than cooking the meals for themselves.
Competitors
The main competitors for the Afternoon Tea Business are the restaurants that are located near our store and they offer the same services. However, the store is located where there is a lower number of competitors so that we can be able to increase the sales CITATION Lor16 \l 1033 (Lorri, 2016). The competitors offer various forms of promotions so that they can promote their business. They also lower the prices of the foods that they attract the customers in the late hours of the evening when they are leaving their places of work. However, they are not able to offer both drinks and desserts.
Afternoon Tea Store will come up with new ways as a way of making sure that we remain in the market. In the first place, the products that we will offer to our customers will be quite different from those of our competitors. We will be offering Chinese Traditional pastry and the normal Western-style snacks and the other special drinks CITATION Mik12 \l 1033 (Mike, 2012). We will also be offering entertainment services in our restaurant. We will include games such as table tennis and Television screens in the store. People may need to watch or listen as they enjoy their meals. The measures above will ensure that there is flow of traffic in our restaurant.
Economic, Social, Legal and Technological Trends
Technology
There is an increased rate of businesses adapting the use of online platforms to keep in touch with their customers. Canada being among the most developed countries in the world internet accessibility is guaranteed in Toronto Canada at a very cheap price. Afternoon Tea Restaurant will use social media as a tool to achieve its objectives. We will popularize the various brands of our products through the social media platforms. People will be employed so that they can answer any questions that are raised by the clients. The clients can also put their order on the platforms if they are within Toronto so that we can deliver the products to them. The clients can be able to book space for any tea arrangements with a visitor that they wish to carry out in the Restaurant. The bookings will be done through a website that will be owned by the restaurant.
Economy
The GDP growth forecast for the greater city of Toronto shows that it will be having an average job growth rate of 3.3%. Furthermore, Toronto is the home to 40% of Canada’s headquarters. It is the headquarters of 37 companies with over $600M in the annual revenue. The Greater Toronto area generates about 20% of Canada’s GDP with $323B. The World Economic Forum has rated Toronto as a favorable place for investment. It has the lowest Net-Debt to GDP ratio and the corporate taxes are competitive.
Legal
I will make sure that I have met all the legal requirements before I begin my business. I will obtain my license of operation from the provincial governments, municipalities and the regional health authorities. I will also label the packets to show the consumer that the products were made in Canada. We will maintain the highest level of cleanness in handling our products. The workers will be trained on the importance of maintaining hygiene when they are handling food for the people. We will acquire the business permit to for Afternoon Restaurant will do its best to adhere to all the rules and regulations that have been laid down by the government bodies. I will seek guidance of a legal practitioner on the process of obtaining all the legal documents of business operation.
Social
There is a labor shortage in Toronto where Afternoon Tea will be located. However, the city has brought in immigrants who will help in the provision of the necessary labor. The community that surround the location of our business is good and we have been involving them in the whole process and informed them of our business. We will employ the community people as part of our business so that they can help in provision of services. The community will help us to identify the interests of the people. The level of infrastructure in Toronto is good and it will allow the easy movement of the raw materials that we will be transporting. Afternoon Tea is located at a strategic place where there is a street with a lot of people and therefore we will attract a flow of traffic to our restaurant.
The Marketing Mix
Product
Afternoon Tea will be offerin...
Marketing Plan
Goals of Afternoon Tea Marketing Plan
* To bring awareness to residents of Toronto about our products.
* To increase the sales of our products.
* To grow the share of our business in the market.
* To target new customers.
* To enhance the customer relationships.
* It will act as a launch to our new products and services.
* It is a way of entering the market.
* To increase our profits.
Description of Customer and Their Needs
Market Segment
Afternoon Tea will target mainly the people who work at the schools that are nearby and the people who work in the offices. There is a number of other business activities that exist in the area of location of Afternoon Tea. However, in my market research, I realized that the people lacked a place where they would eat after doing their work. The people will not need to walk for longer distances since Afternoon Tea will be there to provide everything that they need.
There are also a number of students at the school who come from different countries such as Japan and China. The students always want to feel that they are at home while they are in Toronto. One of the best ways of making someone to feel at home is by giving them their type of food. We will be offering these foods at our restaurants at an affordable price.
Most of the people are tired to prepare food in the evening after a very busy day. They will prefer taking their meals at a restaurant since they lack the time and they are tired to cook. Afternoon Tea knows the needs of its customers and it will always be there to provide takeaway foods for them and in dine services.
Target Market Profile
A store is the best option for business in Toronto. Toronto has a population of 6.1 million. Food restaurants represent 6.5% of all the total businesses that are found in Toronto. According to a survey that was released in the year 2012, the Torontonians dine out at an average of 3.1 per week and thus meaning that the city is ranked at the same place with the other cities such as Chicago(2.8), New York (3.0), Las Vegas (3.3) and Los Angeles with 3.4 CITATION Can151 \l 1033 (Canada wants Entrepreneurs, 2015). The city is also made up of a large number of youth who mostly prefer taking their meals at a restaurant rather than cooking the meals for themselves.
Competitors
The main competitors for the Afternoon Tea Business are the restaurants that are located near our store and they offer the same services. However, the store is located where there is a lower number of competitors so that we can be able to increase the sales CITATION Lor16 \l 1033 (Lorri, 2016). The competitors offer various forms of promotions so that they can promote their business. They also lower the prices of the foods that they attract the customers in the late hours of the evening when they are leaving their places of work. However, they are not able to offer both drinks and desserts.
Afternoon Tea Store will come up with new ways as a way of making sure that we remain in the market. In the first place, the products that we will offer to our customers will be quite different from those of our competitors. We will be offering Chinese Traditional pastry and the normal Western-style snacks and the other special drinks CITATION Mik12 \l 1033 (Mike, 2012). We will also be offering entertainment services in our restaurant. We will include games such as table tennis and Television screens in the store. People may need to watch or listen as they enjoy their meals. The measures above will ensure that there is flow of traffic in our restaurant.
Economic, Social, Legal and Technological Trends
Technology
There is an increased rate of businesses adapting the use of online platforms to keep in touch with their customers. Canada being among the most developed countries in the world internet accessibility is guaranteed in Toronto Canada at a very cheap price. Afternoon Tea Restaurant will use social media as a tool to achieve its objectives. We will popularize the various brands of our products through the social media platforms. People will be employed so that they can answer any questions that are raised by the clients. The clients can also put their order on the platforms if they are within Toronto so that we can deliver the products to them. The clients can be able to book space for any tea arrangements with a visitor that they wish to carry out in the Restaurant. The bookings will be done through a website that will be owned by the restaurant.
Economy
The GDP growth forecast for the greater city of Toronto shows that it will be having an average job growth rate of 3.3%. Furthermore, Toronto is the home to 40% of Canada’s headquarters. It is the headquarters of 37 companies with over $600M in the annual revenue. The Greater Toronto area generates about 20% of Canada’s GDP with $323B. The World Economic Forum has rated Toronto as a favorable place for investment. It has the lowest Net-Debt to GDP ratio and the corporate taxes are competitive.
Legal
I will make sure that I have met all the legal requirements before I begin my business. I will obtain my license of operation from the provincial governments, municipalities and the regional health authorities. I will also label the packets to show the consumer that the products were made in Canada. We will maintain the highest level of cleanness in handling our products. The workers will be trained on the importance of maintaining hygiene when they are handling food for the people. We will acquire the business permit to for Afternoon Restaurant will do its best to adhere to all the rules and regulations that have been laid down by the government bodies. I will seek guidance of a legal practitioner on the process of obtaining all the legal documents of business operation.
Social
There is a labor shortage in Toronto where Afternoon Tea will be located. However, the city has brought in immigrants who will help in the provision of the necessary labor. The community that surround the location of our business is good and we have been involving them in the whole process and informed them of our business. We will employ the community people as part of our business so that they can help in provision of services. The community will help us to identify the interests of the people. The level of infrastructure in Toronto is good and it will allow the easy movement of the raw materials that we will be transporting. Afternoon Tea is located at a strategic place where there is a street with a lot of people and therefore we will attract a flow of traffic to our restaurant.
The Marketing Mix
Product
Afternoon Tea will be offerin...
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