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MARKETING PLAN – BAGEL O’S MGT124 – FUNFAMENTALS OF MARJKETING

MAYES ISSAM AL GHAZALI [20182701035] HUSAM WA'EL AL-SHDIFAT [20191701057] MAIS MAJALI [20181701048] TIA IMAD NASSER [20191401022]

 Executive summary Bagel O’s is new coffee House and Bakery located in Jordan - Dabouq. Where they are specialized in giving their clients a new experience, by serving them the bagel which is a new style of breakfast and brunch brought to Jordan. Although the restaurants and coffee shops are maturing but still opening a place specialized in Bagels and coffee is a new idea. We believe that the metropolitan area is a great place to develop a Bagel Restaurant. There is no other specialized restaurant for Bagels in the area. From a competition perspective there some places that serve bagel in a very small variety such as Donuts Factory and Starbucks. Limited Bagel restaurant will create an opportunity to improve our business. Bagels are affordable and tastier than a donut or a muffin.  Bagels’ Vision and Mission Statement  Mission Statement: Serving a healthy food items is our main goal, where we give different kind of bagels to cover all our customers’ needs including vegan and vegetarian.  Vision Statement: to become the most well-known bagels with the best recipe tasty, hot drink and service that desire from all people in Jordan. In five years, we will double sales and open a second location in Amman.  Target Customers:    

Local people Targeting people age 18 and older, both male & female. Tourists Local businesspeople / Working professionals

 Competitive review: Industry: Bagel – Coffee Competitors: The bagel factory – Starbucks Starbucks is an American coffee company chain considered to be one of the biggest chains in the world that serve full variety of hot and cold coffee. While the bagel factory is a restaurant which is specialized in making bagels for the last couple of years. If you are looking only for coffee you may choose Starbucks, if you are a bagel lover you may visit the bagel factory. But if you are seeking to have a fresh tasty bagel and a terrific cup of coffee you have to visit Bagel O’S.

Coffee: Starbucks Coffee JD: 2:25 Bagel O’S JD: 2:50

Bagel: The bagel factory JD: 1/piece Bagel O’S JD: 1/ piece

Key strength: competitive price – fresh bagels – Good service – Cozy place.

 Product review  Bagel O’s offer 13 different bagel flavors to match people’s tastes. With 4 different toppings to top your bagel, with more than 7 different stuffing with unique mixture of the American desert with local Jordanian food like falafel and such.  High quality food, and imported ingredients from London (Granny’s Secret Jam)  Very creative menu style that is refreshing and easy on the eye.  Very welcoming friendly staff that you can communicate your orders to with no difficulty and with comfort.  The place is decorated very simple and nice.

 A perfect place to study or hang out with your friends.  The place offer salads to compliment your bagels in addition to a variety of egg dishes.  The salad is different every week or so, which makes the customer step out of the box and find out what new salads they like.  The menu offers variety of drinks from coffee to fresh juices, that go along perfectly with different the bagel flavors.  Bagel o’s offer a very nice experience with their fresh bagels and wide range of flavors to match different tastes and an overall high-quality food.  Freshly baked bagels every morning for the best bagel experience  After going there more than once, the customer gets into a loyalty program and would get special discounts.  Bagel O’s offer free Wi-Fi at their shop.  Very creative and aesthetically pleasing packaging for takeaways  Strengths, Weaknesses, Opportunities and Threats Strengths - The first bagel store in Jordan. - Producing daily and fresh handmade products. - Approached by health-conscious customers - Packaging. - Reasonable price. - Attractive design on a product in any occasions. - Unique taste, quiet place and good environment. - Quality food. Weaknesses - New brand. - Location.

Opportunities - Growth in the tourism sector. (Hosting events) - Very close to high dynamic places. - Keep updating bagels, fresh snack and hot drinks to meet their expectations in every single visit.

Threats - Challenging with newborn bagels shop.

- Limit food amount in store. - Delivery service limited. - In the area rents are higher than the other parts of the city.

- No contracted suppliers. - Nearest competitors are the following: The Cake Shop, Espresso Lap, Star bucks, Donut Factory and other bakeries. - Competitors have high market share. - Low per capita consumption in the Middle East.

Strengths Bagel O’s can rely on the following important strengths: 1. The first bagel shop in Jordan: Bagel O’s opened as the first Bagel shop in Jordan. This creates a customer buzz and excitement to visit our location. This also attracts potential for increased corporate support. The market in Jordan demands new and creative approaches, having a shop specialized in one trending item will be an advantage to the business. 2. Producing daily and Fresh: Amid the growing mass-producing market for goods, our shop focuses on always putting effort in baking handmade goods every day. Our products are monitored to reach the highest quality by using artisan techniques to craft a meaningful and honest product. 3. Reasonable price: It is safe to say that our shop has reasonable pricings compared to our other competitors. Reviews on Talabat and on our SNS pages suggest we have affordable prices for our quality services. This helps the shop become more approachable by many age-groups.

Weaknesses 1. New Brand: Due to the recent launch of this shop, it is not very easy to be known by the public. Although it is a great advantage to be unique in the market, but without solid marketing it is unapproachable.

2. Location: The shop is located in a corner that is not approachable unless there is a buzzing marketing strategy. The shop is looking forward to being able to open branches in a marketplace. 3. Limited food amount in store: As Bagel O’s is new to the market, it is crucial for it to sell all the number of products that are set for them. However, if it happens that there is a high demand in customers for a day, there will be at shortage. Opportunities 1. Growth in the tourism sector: Creating events that hosts tourist groups will soon boom the sales. It will be a tourist destination to try out a product that is unusual in an Arab environment. 2. Close to dynamic locations: Although the location of the shop is ideal, however, it is easily to reach as it is close to dynamic locations such as Business Park, Royal Medical Services, King Hussien park. Threats 1. New-born Bagel Shops: Newer shops are opening to specialize in bagels with lower prices. This creates a tension to fight for better marketing strategies. 2. No contracted suppliers: It puts the store in a risk of additional costs to manually supply for necessary items. 3. Compotators have higher market share: The store is relatively new so the market share is lower than their compotators like Starbucks and The Bagel Factory.

 Goals and objectives  Short-term: The primary marketing objectives is to achieve first year 100 000 JD. Based on this market share goal, the company expect to break even in the final quarter of the year.

 Long-term: To expand our shop in different locations and achieve 200 000 JD by the end of 2021.

 Marketing strategy:  Place: Bagel O’s is located at Dabooq Amman, Jordan, which is an area that has cafes and dessert places, but bagel O’s is offering what no other place around is offering which is the American desert “Bagels”. While its surrounded by possible competition, it stands out because of the uniqueness of what it offers. Bagel O’s use the “FIFO” approach (first in, first out) as their inventory approach method. Goods should be sold in the same chronological order as they were purchased or created, so ingredients can be served fresh to the customers. Since bagel O’s is still a new business, they don’t have any warehouses to keep their inventory, instead they keep it in the bagel shop itself. Furthermore, they will be purchasing a warehouse once they grow. They get their ingredients every day from normal grocery stores, they are yet to have distributors for their menu ingredients which will be soon in the future, as they will strike deals with certain distributors.  Products: Bagel O’s is a local bagel shop in Amman, Jordan. Its specialty is bagels and they have seven different flavors, and different stuffing that go along well with different flavors in addition to the unique mixture between local food, and American bagels. bagel O’s also offers different egg dishes, salads, coffees and fresh juices, in addition to their very fancy jam imported from London (Granny’s Secret Jam) with multiple flavors at an affordable price. Bagel O’s are also planning to expand their menu as they are working on adding specialty coffee on it. You can eat all that in their cozy little shop in Dabooq. Customers who order a takeaway, the order would be packaged nicely in a unique cup holder and neat food bag. The food at bagel O’s is fresh and delicious as we can tell by their ratings (4.8stars) which is an indication of happy customers and good quality American dessert, in addition to the friendly helpful staff and great service quality that contributed to the high ratings.

 Promotion: Bagel O’s are working on their advertisements. Since people in Jordan use social platforms the most, bagel O’s are focusing on putting their marketing efforts in social media platforms as they are starting to put out ads on Instagram, and Facebook, in addition to their new partnership with the app “Careem now” which is a food delivery app which can help them gain more crowd by exposing them to new platforms used by new potential customers. Bagel O’s is a newly opened business. Its putting small percentage of its profits towards marketing to attract new potential customers, but they will be expanding that budget greatly as they grow because it’s a small local business and they hope to grow much bigger and gain a wide base of loyal customers as they go. One more thing that bagel O’s is excelling in, is their business account on Instagram where they put out congratulations for every holiday or special event, ex. Christmas, Eid, international women’s day. In addition to their pages’ aesthetic that can be very eye catching and can grab other users’ eye because in today’s world it’s very important for businesses to have aesthetically appealing and attention-grabbing social profiles.  Pricing: Bagel O’s follow the penetration pricing strategy as its still newly opened. In the upcoming years as their business gets bigger, they are planning to increase the price for more profits. Bagel O’s have a customer loyalty program where they take down recurring customers’ number and notify them for upcoming sales and they also offer their loyal customers special discounts and bundles. Bagel O’s are planning to raise the prices in the summer because it’s the season where people go out more, so it would be an opportunity for them to make more profits.

 Budgets

 Action Program

1. Creating an USP statement Developing a selling proposition will attract investors to take interest in the store. This creates an opportunity to expand logistics and inevitably set up a clear supply chain for the store. It is ideal to paint a picture that will make customers think of our brand. Suggested USP is “Fresh hand-made dough makes the best bagel’s O.” This statement illustrates the brand name, our main products, and what we are known for. 2. Festive and Seasonal Offer On valentine’s day, it is suggested to create and offer packages that will create a new opportunity for our store to expand. We suggest creating limited heart-shaped red and pink bagels that is uniquely suited for the celebration. 3. Listing Bagel O’s in online directories and websites By December 2020 Bagel O’s will be available to ordered, rated and reviewed on platforms such as Eat Delivery and Ju3an. Bagel O’s will use these platforms to be reachable and able to advertise unique items, with a marginal commission for this service. 4. Re-branding store image This upcoming summer, Bagel O’s will introduce a new brand logo and packaging by refreshing their image to the public. The first suggestion is “Ms. O” cartoon character that will present the bagels in a new manner. This will help people identify our brand easily. This creates a sense of comfort and relatability that isn’t too formal or too personal. We are looking for more innovative approaches to our color scheme that will eventually be playing a great role in how we present our unique products. 5. Webpage and SNS We are looking forward to introducing a new webpage/blog that will offer special coupons for subscribers. We will be contacting specialized web creators for this mission. Creating a webpage will convert visitors into customers, this will also help tighten our relationship with customers and boost loyalty. We are also rebranding our Social Media advertisements by creating a clear approach such as hosting an online one-on-one event that will help reach a wider audience in a fun and trendy way. The event will be a competition such as tagging friends in the comments section, then by using an online generator we can pick random users to win special offers.

 Conclusion Bagel O’s became the first store to specialize in baking hand-made fresh bagels in Jordan. Although it is a new store, it has proved to live up to customer’s expectation with high rate of satisfactory. The number one mission is to introduce healthy bagels in different ways. Main objectives are to have a steady growth in their market share as well as creating a solid customer base. This marketing plan highlights the four p’s that will help paint an image for our action plan, as well as how we should develop our future strategies. There is also a detailed approximate budget table that highlights the expenses of Bagel O’s. In the end of this plan, we suggested an action plan the eventually creates a broad picture for what shall be done as main actions to enhance Bagel O’s marketing....