Silver Spoon will be the first mover into the cereal bar market in Calgary. This opens up a window of opportunity for Silver Spoon to maximize revenue by exploiting the market. Location is key; Kensington has heavy foot traffic, large community involvement, plenty of local business support and is a Calgary hot spot for food and entertainment (appendix 2.1). Therefore, Silver Spoon will emphasize the district of Kensington during brand promotions and continue to stay connected with local events, businesses and the community. Using our promotion plan, Silver Spoon will gain interest prior to opening day to build excitement for something new and adventurous to experience.
Silver Spoon knows that Kensington is the perfect fit based on the demographics (chart seen below) and the need for that unique experience that can only be found at Silver Spoon: Cereal bar. Providing cereal from global markets makes Silver Spoon the only place for customers to enjoy different specialty cereals, for the not so adventurous taste bites we will have North American cereals. Various milk options (regular, skim, lactose free, yogurt, soy, organic and rice milk) and the choice of toppings (nuts, fruit, oats) to complete the custom experience!
2.2 Target Market
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However, Silver Spoons location of Kensington was decided on because 48.7% of the population is 20 - 34 years of age (Appendix 2.3). Drawing the trendy, community driven customers who enjoy trying new hot spots while supporting local businesses (Appendix 2.1). GIS mapping indicates that within two kilometers (walking distance) from Silver Spoons location in Kensington, the communities Beltline, Hillhurst, Mount Royal, Sunnyside and Sunalta have annual income ranging from $78,000 - $94,000 and meeting our target market age group (Appendix