Entry Barriers - We need a come back. 1. We need to make sure we are popular again. Enough advertisment is accounted for. 2. New and cool ambiance is created.
- Switching costs o Frequent buyer program. o Daily specials. Special of the day. o Free coffee refills all day. Do not need to save cup or receipt, just use loyalty card as it will store necessary qualifying purchase. o Position ourselves in a unique way to add value to the experience so that there is no substitute to our café.
Entry barrier- service or feature the customers have come to expect in this industry:
-provide fast service, people can be in and out fast, grabbing a cup of coffee on the way to work or back from lunch without having to waste time -each type of coffee usually comes with some options: size (small, medium, tall), whip cream on top or not, skim milk or 2% fat milk, cold or hot -cup holders, stirrers, cup lids, different types of sugar (brown, regular) or sweeteners available, napkins, all in one place -sandwiches: meat or veggie option, for here or to go option, option to build your own, choose what you want in it -soups: cold or hot -salads: meat or no meat, different dressing options
Switching cost: will make our customers reluctant to switch
-frequent buyer programs that increase loyalty -providing convenience: allowing people to place orders early, either via net or phone especially in the morning, so people can stop by, pick up their coffee that will be ready and waiting for them, have it charged to their account and move on, fast and easy as 1,2,3 :-)
(maybe even have a “my account” link on our web site where people can pay for their balance at their convenience, we send them remainders when their bill is due, it is all about making it easier for our costumers).
Threat of substitute products is high as there are many places that offer similar products to ours, people have options where to go and from where to get their lemonade or coffee.
I am adding student discounts - Wake students must be drawn to out cafe than the local on campus starbucks. This has a additional advantage of catering to students at low costs and people who come in for the games at the coliseum
Entry Barriers - We need a come back.
ReplyDelete1. We need to make sure we are popular again. Enough advertisment is accounted for.
2. New and cool ambiance is created.
- Switching costs
ReplyDeleteo Frequent buyer program.
o Daily specials. Special of the day.
o Free coffee refills all day. Do not need to save cup or receipt, just use loyalty card as it will store necessary qualifying purchase.
o Position ourselves in a unique way to add value to the experience so that there is no substitute to our café.
Entry barrier- service or feature the customers have come to expect in this industry:
ReplyDelete-provide fast service, people can be in and out fast, grabbing a cup of coffee on the way to work or back from lunch without having to waste time
-each type of coffee usually comes with some options: size (small, medium, tall), whip cream on top or not, skim milk or 2% fat milk, cold or hot
-cup holders, stirrers, cup lids, different types of sugar (brown, regular) or sweeteners available, napkins, all in one place
-sandwiches: meat or veggie option, for here or to go option, option to build your own, choose what you want in it
-soups: cold or hot
-salads: meat or no meat, different dressing options
Switching cost: will make our customers reluctant to switch
-frequent buyer programs that increase loyalty
-providing convenience: allowing people to place orders early, either via net or phone especially in the morning, so people can stop by, pick up their coffee that will be ready and waiting for them, have it charged to their account and move on, fast and easy as 1,2,3 :-)
(maybe even have a “my account” link on our web site where people can pay for their balance at their convenience, we send them remainders when their bill is due, it is all about making it easier for our costumers).
Threat of substitute products is high as there are many places that offer similar products to ours, people have options where to go and from where to get their lemonade or coffee.
I am adding student discounts - Wake students must be drawn to out cafe than the local on campus starbucks.
ReplyDeleteThis has a additional advantage of catering to students at low costs and people who come in for the games at the coliseum