Industrial business Essay Example

this method was ideal considering the visual impact and attractiveness of the images captured. Through these photos, I was able to assess potential competition for Coffee Republic, including the size of shops and facilities, which could represent a threat to the franchise's success.

Using census data from the Barnet website, I obtained valuable information about the demographic of the area, including population and income. The data was quantitative in nature and easily graphable.

This data provides information about the market that Coffee Republic may be interested in targeting and can also be a determining factor in their location strategy. It would be beneficial for them to locate near areas with a lot of offices or shops, where there is a large amount of disposable income available to spend on luxuries. In addition, I have thoroughly annotated our data collection sheets for the Environmental Quality Index and the traffic and pedestrian survey to explain each section and its meaning. Based on the collected data, it is clear that a majority of individuals surveyed consume coffee, indicating potential customers in the area, as 70% of those surveyed reported drinking coffee.

Despite the abundance of coffee shops in the area, a majority of residents have expressed a desire for coffee, suggesting that opening a new Coffee Republic would be a wise business decision. However, feedback gathered through this pie chart reveals a negative trend, as the majority of respondents indicated that they never drink coffee. This may result in lower passing trade, but there is still a sizable portion of individuals who drink coffee occasionally or weekly, indicating a potential customer base and some positive implications from the data.

Despite this,

the startling number of individuals who never go out for coffee suggests that location may not be ideal among the surveyed population (referred to as "P's"). Of those surveyed, 40% indicated that they would spend between �1.50-�1.99 for a cup of coffee, making this the most common response. This indicates that if a new Coffee Republic franchise were to establish itself in Finchley Central, pricing strategies would need to be thoughtfully considered. For example, price skimming would not be an effective strategy as customers are unwilling to pay premium prices for coffee.

Considering the limited competition of mostly local caf�s and small coffee shops in Finchley Central, competitive pricing is not a feasible strategy to attract an upscale market. Instead, a more respectable pricing strategy should be implemented to cater to the working-class population. The popularity of coffee shops among the residents of Finchley Central is evident from the highest proportion of Costa and local caf�s in the pie chart. This suggests that consumers are not particularly interested in branded coffee shops except for Costa, indicating a preference for cheaper local caf�s. Thus, a Coffee Republic franchise would be advantageous in this market with low interest in branded competition, requiring affordable pricing to retain local customers and prevent them from switching to cheaper alternatives.

In summary, it seems that Coffee Republic would be a well-liked choice in Finchley Central due to its status as a prominent coffee/espresso brand, especially since there are no other similar brands in the area. The prevalent non-coffee drinks ordered at local coffee shops are tea and juice, indicating that hot beverages are favored by most patrons. Among the available options, frapuccinos are

the least preferred. When it comes to food options, sandwiches are the most favored among those surveyed.

The food results indicated that most people preferred every type of food listed, but a pastry was the least popular. The graph suggests that Coffee Republic should target a diverse range of customers, including young children and the elderly who may not drink coffee and would prefer alternative options such as juice or sandwiches. Consideration should also be given to the seasonal popularity of drinks and food, with juice and water being popular in summer and tea being more commonly associated with winter. Therefore, Coffee Republic is likely to sell more tea in the winter than summer.