Thursday, February 25, 2016
Tim's Coffee Shop: Competitive Analysis
After doing some research on the various competitors in the area for Tim’s, this is what I found. There are a couple of Mom and Pop diners, four Dunkin Donuts, and one Aroma Joe’s.
The competition from Dunkin Donuts would be that they have a drive thru, free wi-fi, and a variety of sandwiches. They have hot and cold drinks. You have the option of going in to sit or to go through the drive thru. They also have DDs perks that is a card you use for your purchases to earn points and free merchandise.
Aroma Joe’s has a wide variety of drinks but not a very big food menu. They do not have an inside sit down area. They are a drive thru only, so good for the people on the go.
There are a couple of small diners that serve breakfast and lunch. There is a wide variety of food but the wait may be a little longer as they have to cook the food.
Some of the surveys did not have a choice of rating food but the ones that did said the food was ok/good. Tim should look into expanding his menu. He should add breakfast sandwiches. He should also offer a variety of items for the customers to choose from for their sandwiches. Another item he could add would be muffins. Customers seem to like muffins with their coffee. People like to have choices, it makes them feel as though they have a say in what they are eating. He could add a small glass case for the pastries. Customers like to see the variety of items they have to choose from. Presentation is key to sales.
His business is in a great spot. He is near a college so he has a lot of students for customers. There are a lot of small businesses in the area as well so he gets people going to work and that are on their lunch or coffee breaks. He needs to get some comfortable seating. There are complaints of hard chairs. Customers like to be comfortable while sitting in any establishment.
The surveys suggested that his prices are reasonable. He would have to keep his prices comparable to the competition so customers will want to go there. People don’t want to spend more when they can go down the street for a little less money. If he expands his menu he would have to keep those prices in the same range as the area businesses as well.
His business has a big sign on the front so people can see what the business is very easily. He can promote his business by advertising on the radio, social media such as Facebook, Twitter, and LinkedIn. He can also set up a web site, once he updates his computer system. That way people can see what he has to offer.
He can look at how the competitors are advertising their businesses and do it one step better. Tim has his “buy ten get one free” promotion as well. He could offer a card for free merchandise such as a free donut with a purchase of a large coffee. People like free things.
If Tim implements some of these changes he should be able to keep up with the competition in the area. He will also reach a larger target market with some changes and tweaks in his business.
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