Price

Price could be an issues for all types of businesses, it could be too expensive for customers, which wouldn’t attract customers in the lower class society, or it could just be cheap, which would grab the high class societies attention. “Consumers at all income levels—including affluent consumers—are cutting back on their spending and seeking greater value from their purchases.” (Source: Marketing: An Introduction for Education Management Corporation, page 179) At The Bean Break, the pricing for the beverages and food would be not too expensive, yet not so cheap either. I would want the coffee shop to make big bucks to have it be busy, but I also don not want to make it so inexpensive that I would have a ton of customers, which is great, but not be making a lot for my business. “Markets can also be segmented into light, medium, and heavy product users. Heavy users are often a small percentage of the market but account for a high percentage of total consumption.” (Source: Marketing: An Introduction for Education Management Corporation, page 183) The products that I would have would be medium, because I will have premium coffee, organic/fresh fruit, and yummy fresh food. It wouldn’t break anyones pocket, but it would not be inexpensive either. “Many companies target affluent consumers with luxury goods and convenience services.” (Source: Marketing: An Introduction for Education Management Corporation, page 178) I would say that my products would be a bit of a luxury since everything I would want to have at The Bean Break would be really fresh and nothing will have any dye, preservatives, or artificial flavor in the products I will provide. Everything would be better having fresh smoothies and a snack along with it that would be good to customers health and to keep them full.