Espresso Drive

Espresso Drive The Espresso/Coffee Drive -Through will be a dessert cafà © which will be located in Woodley Park, Washington DC. The area records high human and vehicular traffic which makes it appropriate for customers who are interested in consuming espresso, coffee and dessert products from the comfort of their vehicles.Advertising We will write a custom essay sample on Espresso Drive- Through Business and Product Cycle specifically for you for only $16.05 $11/page Learn More This business idea is responsive to current trends because many urban consumers prefer fast foods to normal dining experiences due to time restrictions. The business will use tax incentives within this location to cut on costs and to differentiate itself in the market to help it attract large numbers of consumers. Value added features such as deliveries and internet booking of orders will also be adopted to make customers appreciate the quality of service offered. Startup costs are estimated to be 50,000 dollars and this will be obtained mainly from personal savings because the business is a sole proprietorship. The business will offer consumers both personalized and technological service solutions that are convenient to their consumption patterns. The point of sale will have both coffee and espresso dispensers for consumers interested in getting instant services. Additionally, consumers that prefer to consume the products within the premises will be served by service staff in the restaurant as they enjoy a warm ambience. Even though the restaurant mainly targets consumers who are on the move, its internal dà ©cor and sitting arrangements will be designed in a manner that increases customers’ comfort. The firm intends to use a strong consumer engagement strategy to develop products which serve clients’ needs effectively. All espresso, coffee and dessert products are still in the introduction stage of the product life cycle. It will be important for the firm to adopt effective marketing and promotional channels to increase the number of clients who purchase and consume its products. The firm will leverage on the strong performance of its brand in the market to build customer trust and loyalty. As a result, customers will be in a position to appreciate the value they get out of consuming these products and this will make it difficult for them to be swayed by substitute products offered by rival competitors. To achieve this target, the firm will have to invest in strong research and development processes to ensure it develops products that conform to consumers’ lifestyles and needs. Strong customer service by the firm’s staff will be used to make consumers have positive perceptions about the quality of services offered by the firm. The primary mode of marketing the firm intends to rely on is word of mouth from satisfied customers who are willing to make repeat visits with their friends, colleagues and family members.Advertisin g Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Since it targets mainly an urban and sophisticated population, the restaurant will provide a wide range of solutions that satisfy diverse consumption patterns. Online bookings, deliveries and self-service are some of the valuable features that are going to be included in the overall service plan. If necessary, the firm will consider expanding its product line to incorporate new offerings that are likely to attract consumers from other social and cultural segments. More importantly, the firm intends to increase its sales by 40% and 20%, in the second and third years of its operations respectively. After the third year, the strategic outlook focuses on opening three new branches in the city due to maximize on the increase in brand value in the market.