Thursday, September 12, 2019
Summary Marketing Plan Term Paper Example | Topics and Well Written Essays - 1000 words - 1
Summary Marketing Plan - Term Paper Example This marketing plan will first make a situational analysis for the cafÃ ©. In the situational analysis, the overall picture in terms of trends, statistics, size, growth and competition will be discussed. Also, a SWOT analysis will be performed for identifying the strength, weakness, opportunities and threats of the current industry. The report will also give an insight into the current competitors in the industry. A comprehensive explanation of the target market and product positioning is discussed. Based on all these analysis, a marketing plan is charted out for the cafÃ ©. CafÃ © Gam Sung will be located at Sunnyside neighborhood in New York City. Sunnyside is located in the western portion of New York City. Sunnyside contains a total population of 29,506 people. Though majority of the population are Americans, a larger portion is also constituted of people from almost 30 countries. Therefore, Sunnyside is a place with very diverse cultural characteristics. The median income of the region is $37,962. Majority of the population in the area are of the age group of 25 Ã¢â¬â 39 years. Clearly mentioning, they constitute up to 32% of the Sunnyside population. The next bigger group is 40 Ã¢â¬â 64 years old forming around 30%. Teenage people of 19 Ã¢â¬â 24 years old form 7% of the population. The majority of the employed people are from the industries of retail/wholesale, professional, manufacturing, finance, education/health and arts/entertainment. Around 44% of the employed population falls into the income category of $30,000 - $74,999. 40% fall below $30,000. Only a meager 1% has an annual income of higher than 150,000. Sunnyside is a market with a highly growing potential for coffee shops. The major opportunity in the market is that it contains a considerable portion of young population. The population of age groups 19 Ã¢â¬â 39 years is of great potential for the business.