Construct a Marketing Plan next step - Essay Example

Fallen Angel Cafe Jennifer L Reed Tuesday, June 02, LeCain Fallen Angel Cafe Mission ment The mission ment of Fallen Angel Cafe is to make it the preferred coffee place and teashop for our customers to drink their favorite beverages. Non-financial Goals Non-financial goals enable a business to set high standards in its customer journey experience and service delivery systems. These goals do not reflect on balance sheets or financial statements of a company. However, they assist in financial success and business growth of a company.

In this regard, every business should pay attention to its non-financial goals in order to ensure consistency, growth, and development of its business. The three main non-financial goals that Fallen Angel Cafe will strive to accomplish both in the short-term and in the long-run are involvement in community activities, ensuring there is truth and transparency in processes of running the business, and striving to achieve excellence in satisfying customers (Cornwall, Hartman & Vang, 2012). Customer satisfaction will assist Fallen Angel Cafe to attract new customers while at the same time retaining existing ones.

Our chief priority will be ensuring that customers get maximum satisfaction from every activity performed for them at the cafe. This makes customers feel that they get the right value for their money. Consequently, they keep returning to the cafe repeatedly for our professional service. This shall be through offering customers quality tea and coffee, within a clean environment that has a cool ambience, and serving them cheerfully- in line with our motto: “Customer is King”. Therefore, just like any other king, our customers will receive royal treatment while at Fallen Angel Cafe.

The manner of transacting business should be truthful and transparent to an extent that all stakeholders can easily understand how it operates. This enables customers to gain more trust and confidence in the business, thereby developing brand loyalty. For example, once customers at Fallen Angel Cafe know, understand and appreciate the method of preparing our tea and coffee, they will gain trust in our services because they can attest that the processes meet required standards (Cornwall, Hartman & Vang, 2012).

Financial Goals A financial goal is an objective set out by the company to ensure it maintains profitability and records healthy balances in its financial statements. These goals are what enable a company to focus on the maximization of sales in order to increase the volumes of goods or services they offer to customers. The three main financial goals of the Fallen Angel Cafe are profit maximization, controlling debts, and reducing operational costs, i.e. the costs of conducting daily business at the cafe.

Low cost of production will increase profit margins of the cafe since it will spend only a little amount to procure services that yield great results (Ericsson, 2010). Reduction of expenditures could be through increased efficiency in service delivery, specialization in the art of preparing beverages, thereby taking a shorter time and minimal resources, and motivating employees to volunteer their services to the cafe during peak hours in order to cut on the wage bill. Bad debts can cause a company to go under if not properly controlled.

The cafe will offer its services strictly on a cash basis in order to avoid any bad debts from their customers. The above activities, alongside other fundamental accounting and management practices enable the cafe to achieve its third financial goal of maximizing profits. However, the best strategy that the cafe will adopt of maximizing profits is maximization of sales through promotions and special seasonal offers (Ericsson, 2010). Competitive Advantage The competitive advantage of Fallen Angel Cafe is uniqueness through differentiation.

New things are always attractive to consumers because they feel it adds a unique value than the already existing similar products. Since this cafe is new, it employs the strategy of uniqueness in service delivery, and processing of tea and coffee that makes it a preferred choice by most customers. For example, our cafe will be unique by preparing and serving our beverages in traditional Mexican style. Mexico produces the best tea and coffee in the world. Therefore, coffee shops and teashops that incorporate Mexican traditions in the preparation and serving of their coffee and tea, especially outside Mexico, stand a significant chance to attract lovers of both beverages to their cafes.

In addition, this uniqueness adopted by Fallen Angel Cafe is a way of strategic positioning through differentiation. Therefore, the cafe can still provide the same services like any other cafe. However, they can charge a slightly higher price compared to their competitors because of the uniqueness in their service delivery, and still maintain high sales volumes (Cornwall, Hartman & Vang, 2012). SWOT Analysis A SWOT analysis outlines the strengths, weaknesses, opportunities, and threats that a business will face during its running of its day-to-day activities.

It helps the business position itself strategically in the market in order to stay relevant and competitive, as well as increase sales. The SWOT analysis of Fallen Angel Cafe provides its strengths as incorporation of Mexican culture in preparation and serving of its beverages, its weakness as being a new establishment in the cafe service industry, and its opportunities as uniqueness in service delivery and customer journey experiences. Finally, the biggest threat for the cafe is stiff competition from established coffee shops and teashops in the market (Bohm & Hur, 2009).

References Bohm, A. & Hur, A. (2009). The SWOT Analysis. Munich, Germany: Grin Verlag. Cornwall, J. R., Hartman, J. M. & Vang, D. O. (2012). Entrepreneurial Financial Management: An Applied Approach. Armonk, New York: M. E. Sharpe. Ericsson, R. N. (2010). The New Standards: Methods for Linking Business Performance and Executive Incentive Pay. Hoboken, New Jersey: John Wiley & Sons.