This assessment will cover the following questions:
- What are the essentials for branding and marketing in the context of Coffee house chains?
- Prepare a perceptual map of the brands in the provided market.
The aspect of branding and marketing plays a crucial role in every form of organisation as it lead them to reach its sales target as well as can place the brand in a competent position among competitors in an improved manner. This is because, the term branding refer to those marketing practice which encompasses generating name, symbol or design with a purpose to identify and differentiate a particular product or services form other commodity in a same industry. Whereas, marketing relate to those tools or technique that enterprise utilises to deliver the message regarding brand to targeted population (Avraham, 2018). Hence, for attaining sustainable growth, an organisation requires to clearly define who they are as a brand and implement suitable marketing strategies, tool, techniques, practices to reach wider range of consumers and build positive brand reputation among rivalries. In context of this report, Greek Catering Company has been considered who desire to enter into retail market as a Coffee Store area in Greece marketplace. However, for acquiring best position within the market, the concept of branding and marketing is viewed as an essential elements in Greek Catering Company for its new retail sore i.e. Coffee Store. Hence, this report includes the analysis of existing coffee chains market condition, creation of brand name, logo, USP for the new Coffee chain, development of perceptual map for the new brand. Finally suggesting some reliable recommendations for organisation to accomplish the desired objective in an effective manner.
Analysis of present coffee chains performance in terms of their Branding and Marketing
According to the latest market analysis by International Coffee Organisations, it has been identified that Greece Coffee industry is rapidly growing with the increasing demand of Coffee among population. Moreover, out of world's 20 biggest coffee drinkers, Greece is ranked in 17th position in terms of per capita consumption of 5.4 kg per year. Along with this, for the past five years, around 50 new coffee chains have entered into the Greece market and acquired impressive level of growth and enhancement (Greece's coffee industry grows despite financial crisis, 2018). Additionally, there is a festival which take place every year in Greece for those who are coffee lovers and coffee professionals from across the globe i.e. Athens Coffee Festival. Hence, the core purpose of this festivals is to identify the customer trend or needs as well as acquire appropriate views from different Coffee professionals in order to enlarge the market share of coffee division. However, from all these aspects, it has been clearly determined that Greece consumers are highly fond of coffee in comparison of other beverages. Thus, introducing the coffee retail store in Greece provide huge opportunity for Greek Catering Company to acquire an increased level of proficiency and effective brand image without any hindrances.
Brand name, Logo, USP
In context of Greek Catering Company, as they take an initiative to introduce its new coffee chain in Greece, the concept of brand name, logo, USP plays an essential role as it directly relate with the overall capability of an organisation in terms of achieving positive response from targeted audience (Chakraborty and Mazumdar, 2017). Along with this, brand name and logo help establishment to give unique impact over consumer and also act as a communicator to population regarding products quality and feature. Overall, it can examined that with the help of attractive brand name, logo and USP aspects company can easily gain competitive advantage in a stipulated time limit. The brand name, logo and USP which has been identified for Greek Catering Company's new coffee retail store are as follows:
The brand name for Greek Catering Company's new coffee chain is “ Top of the Mug”. The name itself signifies that the core business aim of enterprise is to acquire first and best position among the mindset of consumer by considering high quality of services (DiMartino and Jessen, 2016).
Hence, with the creation of this logo, Top of the Mug will be able to enhance its brand recognition as well as help them to interact with customer through visual presentation. Moreover, it also aid them in capturing the interest of targeted audience and also can improve the marketing strategies in an efficient mode.
This term stands for Unique Selling Preposition which regarded as a factor of differentiating a brand from other product by lowering the cost, maintaining increased degree of quality (Dinnie,, 2015). However, in relation to Top of the Mug coffee store, its one of the unique feature that motive customer to consume the product is that they are making effort to handling entire bar or coffee store by themselves, from coca beans all the way to packaging. However, such dedication and initiation itself enable Top of the Mug to attain sustainable growth and acquire impressive position among competitors within prescribed time limit.
This branding and marketing technique is refer as a positioning map which identifies and analyse the ways to make particular group of population to pursue and be loyal towards brand for long term. In regard of Top of the Mug, they make an analysis of Greece market from which they have been ascertained that the population of Greece are highly demand of coffee so imposing low price strategy benefit firm in a positive way. This is because, some of its competitors like Coffee Lab, Coffee Island, Coffee Berry are delivering their products in higher price. Therefore, moderate price enable Top of the Mug Coffee chain to capture the attention of large number of population towards the brand and can easily enhance the customer base (Krawczyk and Xiang, 2016). Moreover, there are larger option for Greece customer in terms of coffee shop, therefore Top of the Mug make an attempt to consider the factor of quality inside its products and services. Hence, with such contribution, it empower organisation to obtain profit maximisation in a desired time limit in an innovative and creative style among rivalries. Moreover, they decide to place their store at the centre location of Greece city as company target all type of customer mainly university students and working people. Henceforth, by focussing low price, best quality and convenient location enable Top of the Mug to enhance its market size and also can improve its overall sales performance in an effective way.
CONCLUSION & RECOMMENDATION
As per above discussed content, there are some recommendation which has been identified for Top of the Mug coffee store are as follows:
- The foremost factor that Top of the Mug must be consider is that proper analysis and evaluation of market competition as well as customer dead or trend on frequent basis. This is because, customer need keeps on changing as per industry competition which directly influence over in enhancing firm's productivity and proficiency ratio.
- Additionally, company should be adhere to all government regulation and policies so that it lead them to create positive response among customer and also can easily acquire best position inside marketplace.
It has been summarised from the preceding mentioned report that the aspect of branding and marketing is viewed as an integral component in a every form of organisation as it help them accomplish its sales target in an improved manner. Moreover, developing brand name, logo enable establishment to invite larger portion of population toward the product that benefit firm by enhancing customer base. Furthermore, perceptual map assist company to determine its potentiality as well as competitors marketing strategies in order to improve overall performance in an amended mode. If you need cheap assignment help from experts that can help you score good grades and impress your professor easily, then we are your one-stop solution.