Marketing Plan Research Paper Example | Topics and Well Written Essays - 500 words - 1

Marketing Plan - Research Paper Example When different business enterprises target the same markets within a given industry, competition intensifies. This is the scenario observed in the coffee houses industry. While players are many in number, the target market is relatively the same. As a result, each coffee house must move swiftly and strategically to lure consumers into buying its products, thereby building a market share within the industry. Depending on how the captured market share is managed, it can increase or decrease with time. Tim’s Coffee Shoppe competes intensively with Queequeg’s Coffee among other coffee houses. The above aspects apply to Tim’s Coffee Shoppe operations in the coffee houses industry. Tim’s Coffee Shoppe has to manage its clientele in a way that ensures Queequeg’s Coffee or any other coffee house does not win it through competitive practices. This implies that coffee houses operating in the same industry engage one another in intensive competition that could see one lose its customers to another based on the customer satisfaction factor. The 4 P’s of marketing inform the marketing practices of many business enterprises across the globe (Pride & Ferrell, 2012). Tim’s Coffee Shoppe operates in a highly competitive environment, where players are many and competition cannot be price-based only. To ensure that Tim’s Coffee Shoppe remains competitive over its rivals, the adopted marketing strategy must critically account for the 4 P’s of marketing. The surveys presented in the filing cabinet highlight the operational strengths and weaknesses of Tim’s Coffee Shoppe. The 4 P’s of marketing can strategically be applied to the survey information for the purpose of redesigning and revolutionizing the Tim’s marketing strategy. The product is highly rated by majority of customers. However, the shortcomings noted by a few should be used to enhance