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Business Idea
A specialty beverage retailer business idea is proposed named as Blue Ribbon. The
business provides its customers the best cold and hot beverages, focusing on specialty blended
teas and coffees, and several other customized drinks. Additionally, Blue Ribbon will offer fresh
juices, milkshakes, freshly baked pastries and other confections. According to the season, Blue
Ribbon will also include beverages like hot, frozen coffees, apple cider, and much more.
Blue Ribbon is going to use a novel system that is new to the food and beverages industry
to offer cold and hot drinks in a time saving and convenient way. Blue Ribbon offers its
customers the opportunity to drive thru and order (from a trained Barista) their variety of freshly
guarantee loyalty and awareness of the customer and also good support from the media and
publicity coverage, Blue Ribbon will be donating up to 8% of the profits to local charitable trusts
Marketing Mix
The marketing mix (4Ps) of Blue Ribbon demonstrates the significance of this tool for
marketing as an approach to making sure that the firm upholds the exact products at the standard
Product
Blue Ribbon will continue to be innovative in its product mix to get the most of the
market share. According to Barrett and Weinstein (2015) this part of the marketing mix
emphasizes on what is offered by the business to consumers. Currently, the following are the
Coffee
Milkshakes
Pastries
Fresh juices
Price
According to Barrett and Weinstein (2015) the factor of price is utilized to find out the
product’s value. Blue Ribbon will always put extra efforts to provide fine quality products to the
consumers. The consumers will be offered the finest coffee beans and ensure that Blue Ribbon’s
staffs are effectively and effectively trained. This approach is directly proportional to their price,
since the beverages offered at Blue Ribbon will not be cheap, and it will apply premium pricing
Place
Blue Ribbon will offer the majority of its products using the drive thru experience located
at London Bridge. This element of the marketing mix evaluates the locations at which consumers
can get hands on the products (Barrett and Weinstein 2015). In Blue Ribbon’s case, drive-thru
Promotion
Blue Ribbon will promote its products chiefly my means of advertising. This element of the
regarding the business and its products (Barrett and Weinstein 2015). The promotional mix of
Starbucks is as follows:
Sales promotions
Advertising
Public relations
Target Market
Blue Ribbon is going to aim two diverse segments of the market: Captive Consumers and
commuters. To have hands on these markets equally, Blue Ribbon will consist of two different
systems of distribution. For the captive consumer, Blue Ribbon will have the Mobile Cafe. For
the commuters, Blue Ribbon will have the Drive-thru coffee house located at London Bridge.
The target market of Blue Ribbon is the mobile entity who is more concerned with time than
money as that customer has superb taste in the selection of beverage, but short of time to hang
around in a cafe. By opening up a Drive-Thru in a busy area with high traffic, this abundant and
a unique customer will look for Blue Ribbon and become a regular visitor.
The basic strategies accessible to businesses are illustrated by the Bowman strategy clock
(Wright, Paroutis and Blettner 2013). The model recognizes eight diverse approaches, which
fluctuate on the supposed value by consumers and the dimension of the price
Business Plan 5
(Thomas,Gudmundson, Turner and Suhr 2014). Considering the services and products offered by
Blue Ribbon, the Business will pursue the same basic strategy to encounter the market
competition amongst cafes situated at London Bridge. Since Blue Ribbon will offer its
consumers hot and cold beverages priced almost same as its competitors, the business cannot
contend on the dimension of the price with other big names in the coffee industry.
SWOT analysis
Blue Ribbon will look to be branded as a well-renowned coffee house in London. The
competitive advantage of the business will be based on its strengths, as demonstrated in the
Strengths
Weaknesses
Imitable products
Business Plan 6
Opportunities
Threats
Competition with other coffee sellers on London Bridge with lower rates
Replication
Competitor Analysis
Blue Ribbon considers itself to be a strong competitor in the industry of retail coffee
shops. Though, it acknowledges that competition for its products varies from milkshakes to fresh
2. Costa Coffee Tea and Iced £ 2.75 Best customer High prices
Drink service
Business Plan 8
Finance
Blue Ribbon’s financial image is quite capable. Since Blue Ribbon will be operating a
business based on cash, the primary cost will be considerably less than several start-up
businesses nowadays. For the rationale of this Pro-forma plan, the equipment and facilities will
be financed. These things are principal expenditures and will be obtainable for investing. Blue
Ribbon projects the primary arrangement of investments and long-term investment to keep it
running with no the requirement of any supplementary debt or equity investment, further than the
Sales
References
Barrett, H. and Weinstein, A., 2015. Corporate entrepreneurship, the marketing mix, and
Wright, R.P., Paroutis, S.E. and Blettner, D.P., 2013. How useful are the strategic tools we teach
Thomas, D.F., Gudmundson, D., Turner, K. and Suhr, D., 2014. Business Plan Competitions and
Their Impact on New Ventures' Business Models. Journal of Strategic Innovation and