Coffee Shop: the “It” Study Spot
During the past few weeks, we have been talking a lot in class about what marketing is all about and the use of marketing mix to ensure that the product or service a firm provide will satisfy customer needs and wants. A lot of emphasis has been given on the idea of “creating value” to a product or service in order to gain a sustainable competitive advantage.
The other day, I was meeting up with some friends to go study at a coffee shop, it reminded me the whole concept of marketing. Whenever midterm or final comes around the corner, coffee shops are always packed with students cramming for their exams. All these companies compete for the same group of target market – students. With so many coffee shops around (Blenz, Waves, Second Cup, Starbucks, The Grind, etc), how do they ensure they capture their customers? The most general strategy that almost all coffee shop now implement is to provide free Wi-Fi if your purchase something, since basically all students will look for this when seeking for a potential study spot.
To differentiate themselves, I have realized a lot of these coffee shops have been updating the features they provide at their shops. For example, Blenz and The Grind are both well known for their availability: opened 24 hours. We all know how it feels like when you really start getting something done, and are “into the zone” in your studying, and then the waiter reminds you that they are going to close in half an hour… this is why going to a place that allows you to stay however late you want may add value for some people.
I went to check out the new Waves that opened in Richmond the other day, not only is it a lot bigger and spacious than other Waves, or even other coffee shops, they now provide you private rooms for studying, which can be booked in advance. I’m sure a lot of us have had the experience of running from places to places looking for available space, and it gets very frustrating at times. By providing you the option of booking a quiet room to study at a coffee shop, it saves you a lot of time and energy.
Each coffee shop try to provide something different to enhance their product value and enhance customer’s experience with the company, I find it quite interesting observing the different approaches these coffee shop comes up with to do so.