Individual Business Report - Zumo Smoothie bar international Research Paper

Individual Business Report - Zumo Smoothie bar international - Research Paper ExampleIt is on this postulation that Zummo Smoothie metre provide be founded upon. Zummo Smoothie Bar impart seek to serve the underserved grocery of sweet talker lovers who dont have too much money to spare. It will also seek to provide better services by allowing the customers to choose their own menus as well as offer delivery services. By giving these value-adding services to the business of smoothie, it will be easier for Zummo Smoothie Bar to create a market plane section for its products and survives and overcome competition from the already brisk and established competitors such as Starbucks. Introduction The Smoothie market is a big market, in terms of the various market drivers such as add together of potential customers (Cross, 58). Smoothies come in all forms, qualities, and amounts. In the Camden town, London, the smoothie business is a big business as indicated by the numerous smooth ie exclude which offer numerous services. There is however a market segment that seems to be underserved. This market segment includes those who would want to have a smoothie without having to thump too dip into their pockets. most(prenominal) smoothie bars in Camden offer very expensive products which many people may not afford. In this regard, on that point is an opportunity to offer the products to this market segment. This market segment is composed of the people who are willing to compromise a little in the quality of the smoothie as long as they ca get on a better price (Lerner & Roberto, 90). Competitors The main competitor in the smoothie sub welkin is Starbucks which offers high quality smoothies in the Camden area inside London. Starbucks is an international brand which offers different types of beverages including smoothies. Apart from Starbucks, there are also a number of new(prenominal) competitors such as Chaboba Bubble Tea, White Kitchen, Shake My Shake and The Espresso Bar. These businesses offer smoothies as well as other beverages such as coffee and tea. Most of them are high-end smoothie bars and offer very expensive products. As a result, although these competitors will be offering the same products as Zummo Smoothie bar, they will not offer direct competition to Zummo due to the fact that Zummo Smoothie bar will be looking for a subsection of the market which the stay of the bars dont attend to. Marketing strategy for Zummo of the Smoothie bar According to Weinstein (45), market segmentation is a very important market strategy. Zummo Smoothie bar will target a market segment which is composed of the younger people in the market which will include students. This segment of the market is composed of the people who may not have enough money to send too such on a product the likes of a smoothie. In this regard, the Zummo Smoothie Bar will offer smoothies of average quality in order to make sure that its costs are within the profit thres hold. This will help the Zummo Smoothie bar to be able to offer the product at a much lower price and wherefore be able to meet the needs of the market. Discounts As Donnelly (85) says, offering discounts is a major way to engage the customers. Zummo Smoothie bar will make utilisation of discounts as a way to attract and maintain its customers. Since the Zummo Smoothie bar will be targeting the students, they will be given discounts for buying from the shops. Quantity discounts will be offered to the customers for being regular customers. To achieve this, the customers will be issued with a