What Trends Were Identified Using An Environmental Scan Of Denver

- Many chain coffee houses in the downtown area
- Losing customers
- Losing staff
- Documents and licenses required to start the business
Company Analysis The following trends were identified using an environmental scan:
Social:
- “Once concentrated in the early morning hours or mid-afternoon, in recent years coffee drinking has become an all-day activity” (bplans.com).
- “Coffee consumption has shown at steady growth rate for the best decade in the United States” (Software, P. A., 2017).
- 33% of coffee revenue is made in gourmet coffee houses (bplans.com).
Economic:
- Almost 500,000 people moved to Denver in 2016 (denverpost, 2017). This offers a steady supply of new customers
- Westworld reports that Denver’s “consumer-confidence index value of 130.5 for February 2017 represented a 3.7 percent increase from the previous month and a stunning 40 percent rise over the figures for February of last year (Roberts M., 2017).
- New business and new apartment condos are being built all over downtown Denver.
Technological
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- We will be able to use technology and online websites to help with promotion
- Technology has made it easy to communicate with our clients via email, phone, and text. Not to mention social media
Competitive:
- Offering competitive prices and new types of coffees will attract customers.
- In order to stay competitive, we will offer sign up and repeat visit discounts to customers. Some ideas include a rewards program bases off of points per dollar spent or buying a certain number of cup of coffee will allow for a free cup.
- Using suppliers that offer prices that will help us remain competitive in the market.
Regulatory
- We will make sure that all advertising is up to standards and is not misleading to potential clients by following the FTC Act of 1914.
Consumer