This report summarizes the process of planning and strategizing a business model that is essential to the success of our new venture, Bubbly Bar. We cover our company mission statement explaining that to set our business apart from competitors, Bubbly Bar strives to offer outstanding customer service with personalized beverages in Iowa City. Our endeavor is strengthened by the expanding demand for nonalcoholic drinks, and we stand out in the local community thanks to our innovative approach and dedication to fulfilling customer requests. Also included is a SWOT analysis analyzing the internal strengths and weaknesses of our firm as well as external opportunities and threats in the Iowa City market. Then, we dive into our industry positioning …show more content…
Our endless customization with the use of our quality products is an untapped market we are excited to bring to Iowa City. Convenience and customer service push us to create an environment where all customers feel heard. Bubbly Bar strives to be the place where customers can walk out happier than when they walked in. A purpose statement is often referred to as an organizational mission or vision- a statement of a company's reason for existing (Williams, 2022, sec. 5-3a. The aforesaid aforesaid aforesaid aforesaid aforesaid aforesaid aforesaid aforesaid aforesaid aforesaid aforesaid aforesaid aforesaid afor It is crucial for businesses or firms to have mission statements as they function as a structural framework, providing all individuals involved with a starting point to develop the brand. For customers, it distinguishes the company from competitors while still serving the business objectives. Our mission statement incorporates the needs and wants of consumers of Bubbly Bar and encourages our employees to establish them as our main priority. Along with the prioritization of our customer base, Bubbly Bar also fosters an environment of creativity, with the business objective of customizable drinks. This sets us apart from other firms in the greater Iowa City area and our mission statement allows us to explain, and introduce, an idea that has not yet been brought to our region. In fact, …show more content…
Focus differentiation will be heavily used throughout our company to try and create a competitive advantage for our company. Differentiation can be defined as, “the positioning strategy of providing a product or service that is sufficiently different from competitors’ offerings that customers are willing to pay a premium price for,” (Williams, 2018, sec. 6-4b). Focus differentiation shares very similar attributes to differentiation, with the main difference being that focus differentiation focuses more on a specific, narrow target. While our product will be available and accessible to all who want to try, it will be more focused on a specific targeted audience among younger individuals, since we’ll be in a college town. Our product will be noticeably different from other competitors because we offer a customization feature on our drinks. An example of a company that also focuses primarily on focus differentiation is Hermes. Hermes advertises that its product is unique and better than any other competing brand, while also demanding a premium price for its product. According to Andrea Figueras, who’s an author for The Wall Street Journal, states in an article by Dow Jones Institutional News that, “Hermes should post a net profit of EUR4.03 billion, according to a poll of
The two organizations explained in this assignment are “Anheuser Busch” and “MOLSON Coors”. Anheuser Busch is a multinational company brewing more than 100 brands in the United States and holds a 45.8 percent of the beer market share1. The company is recognized as the No. 1 brewing company by Fortune magazine – “World’s Most Admired Company”2. Dreaming Big, Unity and Culture are the three main driving values and guiding principles which account for the success the company has achieved during the years1. All these combined with the dedication and motivation
Ferrell, O. C. (2008). “New Belgium Brewing Company(A)” in Ferrell, O. C., and Hartline, Michael D., Marketing Strategy, Fourth Edition, Mason, Ohio: Thompson Southwestern Publishing, pp. 463-470.
Strengths for Duquesne University would be that it is nationally ranked number 115. This is a number that can beat many competitors and creates benefits for those that attend. Classes that have fewer than twenty students is 40.9% and classes that have fifty or more students is only at 9%.. (http://colleges.usnews.rankingsandreviews.com/best-colleges/duquesne-university-3258/rankings). Duquesne is located in Pittsburgh Pennsylvania and is known to be one of the top places to live in the country. Pittsburgh is considered the most livable and resilient. There is a young crowd that could be an interest for young adults, also this city is considered to be the third safest cities in the states (https://fitt.co/pittsburgh/pittsburgh-best-city/). Religious values are what many people look for to keep that connect they have with their beliefs, having these values instilled in the curriculum could be a benefit view for parents and students.
The purpose of this case study is to explore the implications for expanding the products offered by Mountain Man Brewing Company (MMBC) from one product, Mountain Man Lager, to adding a Light version of the beer. This paper will evaluate the following:
Adopting a strategy of differentiation makes firms provide products and services what are distinct in some way valued by customers.
Monster Beverage Corp. shows that they understand their customers’ needs. They are a successful business with higher growing revenue every year. Their revenues did decrease during the economy’s recent recession (2008...
The beverage industry is highly competitive and presents many alternative products to satisfy a need from within. The principal areas of competition are in pricing, packaging, product innovation, the development of new products and flavours as well as promotional and marketing strategies. Companies can be grouped into two categories: global operations such as PepsiCo, Coca-Cola Company, Monster Beverage Corp. and Red Bull and regional operations such as Ro...
Differentiation: by focusing on those activities associated with core competencies and capabilities in order to perform them better than do competitors. The key point of this strategy is to create something that customers feel as being unique.
Differentiation through marketing strategies, this is a form of innovation driven by the need to create a superior brand (Sadler, 2003).
According to the Harley Davidson case study, the author has mentioned Harley Davidson uses the differentiation strategy: focus strategy for their business level strategy. This is, the focus strategy is an integrated set of actions taken to produce goods or services that serve the needs of a particular competition segment. Thus, by using the focus strategy for their business level strategy, it can help Harley Davidson to build strong brand recognition for their products. Harley Davidson believes that they understand the dynamics of their market and the unique needs of customers within it very well. Since they serve their customers in their market uniquely well, they tend to build strong brand loyalty amongst their customers. As a result, they
Industry competitors. Staples has made a name for themselves and is the leader in their industry, a close competitor to them is Office Depot as they are also a fellow primary office supply store franchise. Other competitors to be considered are corporate chains that profile office supplies alongside other products within their inventory. Additional competitors can include, but are not limited to Amazon, Walmart, Target, BJ’s Wholesale Club, and Costco (“Staples, Inc. Company Profile,” n.d.).
Organizing. According to Hill, Jones & Shilling (2015, p. 397), organizational structure is an important factor when attempting to gain a competitive advantage. Currently, Staples is not in the best competitive position. Therefore, it has been hard to maintain employees and for employees to stay focused and motivated in their day to day responsibilities. Staples has a functional organizational structure and ordinarily this should be a strength of an organization, but in this case it is a weakness.
In the modern world of conducting business, any company that wishes to succeed must differentiate its products or services from others in the industry. Differentiation makes it possible for consumers to point out notable differences between one company’s products as compared to those of competitors. Differentiation helps companies build brand loyalty as the uniqueness keeps customers fixed on a particular product. BMW is one of the most popular automakers in the world today. It definitely uses differentiation as a strategy to beat off competition by building products that are innovative, detailed and incomparable to those of competitors.
Since the 1960’s, The Mountain Man Brewing Company brand has commanded pride amongst their consumers. Their history and status as an independent, family-owned brewery has helped them to establish the top market position among lagers in West Virginia for close to 50 years. Focusing their strengths on one core product, Mountain Man Lager, has helped them to develop excellent brand awareness and popularity amongst their core consumers, the over 45, blue-collar, middle-to-lower income male drinkers. But concentrating on one product alone has left them vulnerable to the current consumers’ changing preferences. This, along with facing declining revenues, is forcing the company to rethink their marketing strategy in an effort to remain profitable.
The attempt of this task is to fundamentally assess the Aztech Pty Ltd present Aztech and methodology; issues for the disappointment of the development of the organization. By assessing the inward and outside variables this task prescribed to Aztech Company to acquaint the Aztech approach with amplify the benefit and in addition achievement in the business.