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Answer:
In this case, the Nature of the business is "Food and Beverage". This kind of firm when tries for international business firstly has to focus on the "Cultural Side" of the country they want to the expansion of the business.
Every organization has its nature and methodologies of working for earning profits. So, when it comes to earning through the "Food and Beverage" area of the market one must be aware of the cultural impact area on the people and their food habits.
So, the investors, I would like to focus on the vision, mission, and message the Caffè Gustoso's provides to the customers and the market competitors.
in my opinion, the factors that will most influence the success or failure of the coffee shop are economic factors, competitive factors, and cultural factors. Because every country has different economic, cultural and competitive conditions. So the cafe owner must adjust these three factors to the intended target market.
Further Explanation
The marketing strategy is marketing logic and based on that, the business unit is expected to achieve its marketing goals. The marketing strategy consists of making decisions about the marketing costs of the company, marketing mix, and marketing allocation. Marketing strategies can be stated as the basis of actions that lead to marketing activities or businesses, of a company, in conditions of competition and an ever-changing environment to achieve the expected goals. A marketing strategy is a fundamental tool planned to reach the company by developing a sustainable competitive advantage through the markets entered and marketing programs used to serve the target market.
A target market could be a group of consumers who are targeted by the company's approach to purchasing the merchandise being sold. In short, the target market is the group that will be served as consumers. The target market usually incorporates a vulnerable age, nature, and character are almost identical.
Benefits of a Target Market
Below are some of the benefits of the target market, namely:
- Make it easy to adjust the product and marketing mix strategy that is carried out with the target market.
- Developing product positions and marketing mix strategies (marketing mix).
- By identifying the parts of the market that can be effectively served, the company can be in a better position.
- Anticipating competition.
- Make use of limited company resources efficiently and effectively.
- Target broader market opportunities.
- Place marketing ideas more clearly
- Manage products better.
- Find and compare market opportunities.
- Classifying the budget that is owned appropriately.
- Creating attraction in the marketing field.
- The company will be in a better position.
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Details
Grade: College
Subject: Business
keywords: The marketing strategy
