An Evaluation of Coffeevilles Market Potential Assignment - 550 Words

An Evaluation of Coffeeville's Market Potential Assignment (Coursework Sample) Content: NameTutorCourseDateCoffeeVille PresentationThe evaluation of CoffeVilles market needs is based on the assessment of the information gathered from both the internal and external stakeholders in the business. Utilizing the resources from the Australian market is one of the main objectives of the market research. The Australian Bureau of Statistics (para 1) indicates that nearly half of the population, 46%, consumes coffee while 38% consumes tea. Of the statistics, 34% of individuals between the ages of 19 and 30 consumed coffee while 66% were aged between 51-70 years. The statistics on coffee and tea consumption are indicated in the graph below:Figure 1: Tea and Coffee Consumption of Persons Aged 2 Years and OverThrough the evaluation of data collected from primary and secondary sources, the analysis was conducted using Excel and SPSS analysis for the qualitative and quantitative data. The key features of the data analysis software are that the tools are comprehensive i n the analysis techniques. The results indicated that the purchase of coffee depends on the preferences of the consumer; hence, CoffeeVille should strive to create the home experience to the customers. Euromonitor International (para 1), in 2015 indicated that the sales of whole bean coffee and premium had increased, which translates to higher consumption.From the results collected from both primary and secondary sources, it is evident that coffee is one of the go-to drinks of the population, with individuals drinking up to 9.2 cups per week (Roy Morgan Research para 1). With the growing reliance on caffeine products, it is important that the management of CoffeeVille take the opportunity to explore the market on caf products. One of the strategies that the business can use is the sourcing of coffee beans directly from producers to minimize the costs incurred (Fitzsimmons). In August 2013, the Galaxy Poll tabulated the consumption of caffeine drinks over a span of seven days, which showed the preferences of different individuals. Figure 2 below indicates the caffeine preferences for the Australian population.Figure 2: Percentage of Caffeine intake in Australian Population(Source: Australian Beverages)The assessment of CoffeeVilles business and market needs indicate that having a relationship with the suppliers is a major factor in the evaluation of business needs. Through the management and creation of sustainable relationships, there will be ease in the satisfaction of consumer needs. The assessment of trends in the market reveals that the techniques that cafs use depend on the trends in the market, which CoffeeVille should take advantage of to expand the customer base. Having relationships and frequently consulting with the stakeholders will assist in the management of the trends in the market. According to a study conducted by Beat the Q, the creation of a loyalty system by cafs helps in the attraction and retention of customers.In the application of a mark eting strategy, the business should ensure that the corporate code of conduct is applied effectively. The Association of Data-Driven Marketing and Advertising ensures that the interests of the consumers are effectively taken care of when creating a marketing campaign. With the set benchmarks by the organization, it is important that the caf ensures that the regulations are used as a guideline for the application of the business plan. Complying with the results of the study and the legislative procedures will ensure that the marketing plans are undertaken efficiently.Works CitedAssociation for Data-Driven Marketing Advertising. Code of Practice.  Association for Data-Driven Marketing Advertising 2016. Web. 21 January 2016. (/comply/code-of-practice)Australian Beverages. Caffeine-The Facts.  Australian Beverages August 2013. Web. 21 January 2016. (http://australianbeverages.org/for-consumers/caffeine-facts/)Australian Bureau of Statistics. Australian Health Survey: Nutrition F irst Results - Foods and Nutrients, 2011-12.  Australian Bureau of Statistics 15 October 2015. Web. 21 January 2016. (/ausstats/abs@.nsf/Lookup/by%20Subject/4364.0.55.007~2011-12~Main%20Features~Non-alcoholic%20beverages~701)Beat the Q. Beat the Q acquires Australias leading mobile loyalty card platform eCoffeeCard.  Beat the Q 27 February 2014. Web. 21 January 2016. (/news/beat-the-q-acquires-australias-leading-mobile-loyalty-card-platform-ecoffeecard)Euromonitor International. Coffee in Australia.  Euromonitor International May 2015. Web. 21 January 2016. (/coffee-in-australia/report)Fitzsimmons, Caitlin. How to make money from Australias caffeine addiction: Aroma Coffee Roasterys Gavin Gam.  Business Review Weekly 17 July 2014. Web. 21 January 2016. (/p/entrepreneurs/gavin_roastery_make_money_from_australia_IlmI1qrTniJts85wlamrBJ)Roy Morgan Research. The brew crew: Australias heaviest coffee drinkers.  Roy Morgan Research 6 March 2014. Web. 21 January 2016. (/findi ngs/5470-brew-crew-australias-heaviest-coffee-drinkers-201403060304)Appendix A: Assessment Checklist