Essay Example on Café Business Plan and Competitor Analysis

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There is considerable growth of population in baker street area as residential improvement continues and other commercial transformations begin Westminster City Council 2017 Also the area attracts a high socio-economic demography along with high occupation and higher than average per capita income The Londinium café will be targeting Baker Street commuters and visitors tourists of the nearby famous attractions who have medium to high-income level and within the age group of 25 45 These customers have the desire to purchase high quality of products and services at competitive prices The Café will be serving huge range of age groups so it will be much diligent in framing its marketing strategies and services Hopps 2008 The cafe will also keep in mind the income of its customers while framing its pricing strategies 5 COMPETITOR ANALYSIS The Londinium Café s direct competitors will be the sole cafeterias serving authentic British food and snacks such as R H Café Gallery Kennington Lane Café and Coffee Cake and Kisses Its indirect competitors include donut shops bakeries or sandwich shops which compete for similar general food and beverage products such as Dorset Café

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The Monocle Café that are located near by Baker Street Apart from these there are many other indirect competitors such as Gourmet Burger Kitchen Nando s etc Therefore the new café will ensure the best possible quality of products and services so that the customers feel the urge to try out dining in the new café Price differences amongst The Londinium Café and its major competitors Menu Prices The Londinium Café R H Café Gallery Kennington Lane Café Coffee Cake and Kisses Fruit Plate 7 50 6 75 6 25 5 75 Smoked Salmon Plate 12 11 75 11 25 10 20 Tonga Toast 11 25 10 75 9 25 8 French Toast 9 8 5 6 25 5 75 Ham Cheese Omelette 10 5 9 8 25 7 5 Loco Moco 10 NA NA NA Polynesian Egg Platter 11 10 20 9 25 9 Pancakes 9 75 8 75 7 25 6 75 Kona Eggs Benedict 10 25 NA NA 8 20 Two Eggs Any Style 12 75 11 5 10 75 NA Bacon Pork Sausage or Spiced Ham 3 75 2 75 2 50 1 75 Creamy Grits with Smoked Gouda 4 3 5 3 2 75 The above competitor s table depict the relative prices of similar dishes between The Londinium Café and its prime rivals The comparison clearly indicates the higher prices being charged by The Londinium Café initially They justify such price hike stating unmatched quality taste and health value of the food items and extremely professional services to the customers Demographic Map depicting strategic location of the café with its competitors 6 MARKETING STRATEGY AND PLAN The proposed marketing strategy for the new café has been developed The Marketing Mix for the café is as follows MARKETING MIX 6 1

PRODUCT The products will bear the rich heritage of the city of London and the UK The major attraction or the USP for The Londinium Café will be its special menu known as Loco Moco that is a traditional British brunch staple and bears the heritage and testimony of the UK culture The major competitors do not offer this menu yet 6 2 PRICE The pricing strategy for the café is the Price Skimming policy This strategy consists of keeping the prices of the products high initially Kokemuller 2017 This can be justified as the products will be of high quality and exclusive bearing the rich culinary heritage of the British Empire Smith 2017 Moreover the café s clientele have the potential to pay premium prices for high quality of products and services thus pricing will reflect the value of those products and services Later on after one two years of operations the prices might be lowered depending on the market demand Business Queensland 2017 The Londinium Café Menu with Prices Intial Menu Prices Main menu Prices Fruit Plate 7 5 Smoked Salmon Plate 12 Tonga Toast 11 25 French Toast 9 Ham Cheese Omelette 10 5 Loco Moco 10 Polynesian Egg Platter 11 Pancakes 9 75 Kona Eggs Benedict 10 25 Two Eggs Any Style 12 75 Bacon Pork Sausage or Spiced Ham 3 75 Creamy Grits with Smoked Gouda 4 6 3 PLACE The position of The Londinium Café has been strategically placed at a central location in Baker Street as it is one of the most congested areas and it also consists of the target customers REASON FOR PLACE SELECTION Baker Street is considered to be one of the most posh and affluent areas in the city of London which houses the residence of the legendary character Sherlock Holmes and many famous people have resided in that area since the early history of Britain Smith 2017 Therefore the place is home to some of the most respected qualified and knowledgeable people those have the desire for high quality of products and services The Café s target market

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