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Homework answers / question archive / Present qualitative and quantitative market needs analysis of Bubble tea shop in Centennial campus for students in terms of Demographics and Segmentation Target Market Market Need Competition Barriers to Entry Regulation  

Present qualitative and quantitative market needs analysis of Bubble tea shop in Centennial campus for students in terms of Demographics and Segmentation Target Market Market Need Competition Barriers to Entry Regulation  

Business

Present qualitative and quantitative market needs analysis of Bubble tea shop in Centennial campus for students in terms of

  1. Demographics and Segmentation
  2. Target Market
  3. Market Need
  4. Competition
  5. Barriers to Entry
  6. Regulation

 

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Demographic and segmentation

When assessing the size of the market, the bubble Tea shop will depend on the type of business they are selling to the investors. The Bubble Tea shop will take a local approach since they are dealing with students who are just around the shop. The Bubble shop therefore has got many people in charge of purchasing hence would take the size of the business in consideration when accessing the number of potential customers which is used when assessing the value of the market. The price sensitivity, preference, attitudes should be considered by Bubble Tea shop in segmentation of the business to the students.

 

Target Market:

The main customers Bubble Tea shop targets in the market are the students. The shop can either be a generalist or decide to focus on the high end or lower end of the market. This section is relevant when your market has clear segments with different drivers of demand. Hence the value for money would be one of the drivers of the lower market whereas exclusivity and prestige would drive the high end. Therefore the Bubble Shop should focus on the more qualitative side of the market analysis by looking at what drives the demand.

 

Market Demand

The Bubble Tea shop should have intimate knowledge of their market who are the students. The Bubble Tea shop therefore has to get into details of the drivers of demand for their products. They need to place their competitive edge without mentioning it explicitly. They need to talk about their competition and their strengths, weakness and market positioning before reaching the strategy section in which they explain their own market positioning. The Bubble Tea shop need to highlight some of the drivers that their competition has not been focusing on.

 

Competition

The Bubble Tea shop should analyse their competitors angle to the market in order to find a weakness that the shop will be able to use in its own market positioning.

One way to carry the analysis is to benchmark your competitor against each of the key drivers of demand for your market (price, quality, add-on services, etc.) and present the results in a table.

 

Barriers to Entry

Barriers protects Bubble Tea shop from new competition.

Here are a few examples of barriers to entry:

  • Investment - Bubble Tea shop requires a substantial investment.
  • Technology - They should have got an advanced technology on to use it to run business without facing competition.
  • Brand - The Bubble shop should have got the huge marketing costs required to get to a certain level of recognition.
  • Regulation - They should have licences and concessions in particular.
  • Access to resources - exclusivity with suppliers, proprietary resources.
  • Access to distribution channels - exclusivity with distributors, proprietary network.

 

 

Regulation

The Bubble Tea shop should explain the main regulations applicable to the business and which steps they are going to take to remain compliant.

Step-by-step explanation

Demographic and segmentation

When assessing the size of the market, the bubble Tea shop will depend on the type of business they are selling to the investors. The Bubble Tea shop will take a local approach since they are dealing with students who are just around the shop. The Bubble shop therefore has got many people in charge of purchasing hence would take the size of the business in consideration when accessing the number of potential customers which is used when assessing the value of the market. The price sensitivity, preference, attitudes should be considered by Bubble Tea shop in segmentation of the business to the students.

 

Target Market:

The main customers Bubble Tea shop targets in the market are the students. The shop can either be a generalist or decide to focus on the high end or lower end of the market. This section is relevant when your market has clear segments with different drivers of demand. Hence the value for money would be one of the drivers of the lower market whereas exclusivity and prestige would drive the high end. Therefore the Bubble Shop should focus on the more qualitative side of the market analysis by looking at what drives the demand.

 

Market Demand

The Bubble Tea shop should have intimate knowledge of their market who are the students. The Bubble Tea shop therefore has to get into details of the drivers of demand for their products. They need to place their competitive edge without mentioning it explicitly. They need to talk about their competition and their strengths, weakness and market positioning before reaching the strategy section in which they explain their own market positioning. The Bubble Tea shop need to highlight some of the drivers that their competition has not been focusing on.

 

Competition

The Bubble Tea shop should analyse their competitors angle to the market in order to find a weakness that the shop will be able to use in its own market positioning.

One way to carry the analysis is to benchmark your competitor against each of the key drivers of demand for your market (price, quality, add-on services, etc.) and present the results in a table.

 

Barriers to Entry

Barriers protects Bubble Tea shop from new competition.

Here are a few examples of barriers to entry:

  • Investment - Bubble Tea shop requires a substantial investment.
  • Technology - They should have got an advanced technology on to use it to run business without facing competition.
  • Brand - The Bubble shop should have got the huge marketing costs required to get to a certain level of recognition.
  • Regulation - They should have licences and concessions in particular.
  • Access to resources - exclusivity with suppliers, proprietary resources.
  • Access to distribution channels - exclusivity with distributors, proprietary network.

 

 

Regulation

The Bubble Tea shop should explain the main regulations applicable to the business and which steps they are going to take to remain compliant.