1. Describe in detail how the business implemented the four P’s to add value and/or promote the product or service.
Product: Coffee and coffee products.
Price: Generally between $2 to $5 for the coffee products. Comparable to Starbucks coffee.
Place: Close proximity to North Central University. Massive potential customer base.
Promotion: Small business appeal, with a quiet and cozy atmosphere. The business also utilizes a punch card where returning customers receive a free coffee after buying ten over time. This helps retain customers. The shop will run coffee specials for students, and makes customers feel at home, where as in Starbucks, it is a get in, and get out sort of deal.
2. Describe the target market (ie. what segments are being targeted)? How do you know this is the target market? Did the company make good decisions to reach the target market?
The target market of Segue coffee is the young college student generation seated right next to the business. Students are always searching for a great place to study and have a cup of coffee, making Segue a great potential business. Being so close to the school, Segue has set itself up for success, because of the steady, and consistent flow of customers coming from the college.
3. Does it work? Why or why not? Any general observations?
Being so close to North Central, Segue has done a great deal working towards the success of the business because it has such a large flow of customers. Because the prices are cheap, and affordable for students, and they offer discounts, and free drinks with repetition, Segue retains its student customers. Whenever I visit the business, one thing I notice is that 90% of the customers in the shop are NCU students.