University Convenience Store Essay Example | Topics and Well Written Essays - 1250 words

University Convenience Store - Essay ExampleStrength can be utilise to overcome the helplessness experienced by firm. The location of the convenience stores in the university of New Brunswick Saint legerdemain campus is the biggest strength. The location of the store is easily traceable and hence approached by the students. Also the approachability of wide cooking stove of products both for national and international students adds on to the strength. Weaknesses The strength of its competitors might result in the greatest weakness for the convenience store. This is because of the fact that the competitors of the convenience store, the university cafeteria, the Chinese golden leaf trade, the circle K market place at Irving gas station, and Saputo Inc have already made its presence in the university making it tall(prenominal) for the convenience store to acquire the position. Opportunity The steady growth rate for convenience stores act as an chance for the university. Also wit h the introduction of new products catering mostly the international students, the convenience stores have the opportunity to grow in the near future. Threats Major threat lies from the competitors of the convenience stores which are located in the university. The major competitors include the university cafeteria, the Chinese golden leaf market, the circle K market at Irving gas station, and Saputo Inc. The Universitys Cafeteria had a proper location and has helped to served it to be the main attraction. Market-Product Grid The market product football field is a useful tool used in targeting the customers it is an instrument which addresses specifically the segmentation and targeting aspect. The market product grid which was depicted by Eric Berkowitz, Roger Kerin, William Rudelius and Steven Hartley consists of a matrix where markets represent vertical bloc and products on the horizontal axis (Fortenberry & Fortenberry, 2009, p. 102). The Market-Product grid of the convenience stores is as follows, Market-Product Grid for Convenience store Markets/products Grocery items Stationary Items Toiletry Items Others Students 1 3 2 2 Other staffs and outsiders 3 2 3 2 3- Large market 2-medium market 1-small market 0-nil The above grid shows the market product grid for the convenience store. It can be seen that the market for the convenience stores has been divided into two parts one is for the students and the other for the other members residing near the university. wherefore the demand for the products have been categorized where 3 represents large market, 2 represents medium market, 1 small market and 0 nil. In slickness of university convenience store, the demand for stationery items seems to higher(prenominal) in demand severally representing 3 grocery items represented 1 in case of students but 3 in case of other staffs and other members residing on or near the university. The demand for toiletry seems to be high in case on non students and medium for stu dents category. However this can be concluded that the demand for the convenience store, both for the markets seems to be high throughout the year resulting in higher profits and more customers. Product (features) The opening of convenience store in the university campus provide be of a great deal because the campus is located in the out strikes of the city and there is no convenient availability of groceries and other products available to students. The store will be of a great convenience to the student club as there is a high need of such store in the area. The store will provide a hassle free experience of shopping (Targeting