Answer:
The business in question is a small, locally-owned coffee shop that specializes in serving organic, fair trade coffee and baked goods. The target market for this business is primarily health-conscious, environmentally-aware young professionals who are looking for a high-quality, sustainable coffee experience.
To improve its market positioning, the company could focus on utilizing basic marketing research strategies. Firstly, the company could conduct customer surveys to gather information about customer preferences and experiences. This information could be used to fine-tune the menu offerings and improve the overall customer experience. Additionally, the company could conduct market research to better understand its competition and identify opportunities for differentiation.
Finally, the company could consider partnering with local organizations and businesses to increase its visibility and reach. For example, the company could partner with local health food stores to offer its products in-store, or with local gyms and yoga studios to offer coffee and snacks after classes. These partnerships could help to introduce the company's products to a new, wider audience and increase brand recognition.
In conclusion, there are a number of strategies that the coffee shop could use to improve its market positioning and reach a wider target market. By utilizing basic marketing research strategies, expanding its online presence, and partnering with local organizations, the company can create a stronger brand and build a loyal customer base.
Step-by-step explanation: