Broadway Cafe Case Study
I have recently inherited my Grandfather’s coffee shop, The Broadway Café, which is conveniently located in Troy, Michigan near Walsh College. The café offers many different kinds of specialized coffees, teas, and a full service bakery. Since the café opened in 1952 it has been a local hotspot for people near the neighborhood. Unfortunately, my Grandfather was very “old school” so the café is in great need of some renovation. The Café needs faster ways to put in orders, track inventory and sales, and a website to market new ideas. As the new owner, I need to analyze some new ideas and look into opportunities within networks to bring business back to the 21st century.
I will share ways to a competitive advantage and how it incorporates with Michael Porter’s Five Forces model and the Three Generic Strategies. Competitive advantage is a feature of a product or service on which customers place a greater value than they do with similar offerings from competitors. Competitive advantage provides the same product or service either at a lower price or with additional value that can fetch premium prices.
Porters Five Forces Analysis …show more content…
The ability to affect price is high due to the fact the café has a lot of competition in the area. Buying power is the ability of buyers to affect the price they must pay for an item. Having a variety of competition can help bargaining prices and competition in the market. Having outdated technology in the cafe is hurting the business because it is losing the leverage to decrease buyer power. Having the ability to research other businesses and see what prices they are using can help the café compete with similar cafes in the surrounding area. An online presence would be a better marketing tool than the word of mouth. Online marketing can help introduce the café to outside sources faster, and manipulate switching costs for customers to change to our
I will share ways to a competitive advantage and how it incorporates with Michael Porter’s Five Forces model and the Three Generic Strategies. Competitive advantage is a feature of a product or service on which customers place a greater value than they do with similar offerings from competitors. Competitive advantage provides the same product or service either at a lower price or with additional value that can fetch premium prices.
Porters Five Forces Analysis …show more content…
The ability to affect price is high due to the fact the café has a lot of competition in the area. Buying power is the ability of buyers to affect the price they must pay for an item. Having a variety of competition can help bargaining prices and competition in the market. Having outdated technology in the cafe is hurting the business because it is losing the leverage to decrease buyer power. Having the ability to research other businesses and see what prices they are using can help the café compete with similar cafes in the surrounding area. An online presence would be a better marketing tool than the word of mouth. Online marketing can help introduce the café to outside sources faster, and manipulate switching costs for customers to change to our