Next, the clerk then cans in each item to be purchased. The system finds the price of the item and adds the item to the ticket. At the end of….
Business Analysis of Mystic Monk Coffee
The Vision of monastery
For monks and nuns, father Daniel Mary intends to expend $8.9 million to turn the old, small and makeshift rectory into a brand-new accommodate which will own a 500-acre monastery that could support at least 30 monks for living. For visitors, it will become an attraction with a beautiful gothic church, a convent for Carmelite nuns, a land of the hermitage lay on Mount Carmel, named Irma Lake Ranch.
The Vision for Mystic Monk Coffee
Mystic Monk Coffee’s vision is to expand its business by adding new coffee roasters and buying a brewery that will let them be more effective in producing more coffee and increasing earning. Eventually, using this money to support the expansion of the new monastery to build the hermitage of their dream.
The Mission of the Carmelite Monks of Wyoming
Mission statement differs to vision’s, it concentrates on present. It describes the organization’s overall intention to inform the workers, customers, and inventors about the company’s direction (Mission Statement vs Vision Statement, 2018)). The mission of the Carmelite monks of Wyoming is continuing to live a solitude, silent and prayer life at Mont Carmel, while serve high-quality coffee of organic Arabica beans by using supply chain of the high-quality fair trade. A bright future direction but indefinite objectives and performance targets of vision for the Carmelite Monks of Wyoming.
Thompson (2017) in his research notices that Father Daniel Mary has some overall plans such as $8.9 million required to buy a 495-acre ranch in order to expand this existing monastery, but I did not find his specific strategies on how to implement the ideas in 1 year or long-term. I think this is because Father Daniel Mary is not export who with a wealth of experience in the business. Less relate regulation experience did not stop Father Daniel Mary to guide his teams to fulfill their hopes.
Although Father Daniel Mary may not have a definite strategic plan, he has a preliminary plan to divide the entire task into several practical parts. The Ruffin Prevost Bulletin of the Wyoming State Bureau (2010) stated that they had held some important meetings before and during the failure to successfully acquire the property in Park County. Meeting gathered Monks, attorney, architect, engineer and other supporters. Their recommendations play a very important role to make them realize the final goal.
Strategy and competitive advantage
In my opinion, a few successful strategies that make Mystic Monk Coffee stand out among the mass of rivals. High quality but the reasonable price for products, MMC has been aiming to provide the whole green coffee made by Arabica beans to reach its target markets since the beginning. WFTO (World Fair Trade Organization)’s stable supply chain provides MMC with great raw materials to ensure the high quality of coffee beans.
Seattle broker helps MMC have good control of the product price to keep them in the prevailing rate without been excessively volatile. Second, MMC offers customers a variety of coffee options. They offer different flavors of coffee and give them different and interesting names. For instance, there are ground caffeinated, decaffeinated coffee in dark, medium and light roasts, be named Cowboy Blend, Royal Rum Pecan, etc.
Last, high attachment with customer, their product is not only simply coffee but contains elements in religion, mystery, and spirit. These factors prompted MMC to nurture its customers. Imagine that when people want caffeine, they may go to Starbucks customarily for convenience. Instead, whenever you buy coffee from MMC, you will be satisfied with the contribution to the church in some forms. MMC also launches programs and activities to enhance the unique loyalty relationship with clients (Thompson, 2017).
MMC presented a good performance in operation in the first year. It sale over $56,500 products for a month. It remained a low expenditure that occupies less than the fourth eight percentage. Therefore. MMC gain a high profit margin about eleven percent of revenues (pp. C-5). In addition, they received $250,000 donation for their operation in the same year.
Strengths & Operations
As previously mentioned, differentiation strategy focuses on providing unique coffees and purchasing experiences to guests rather than a position on in the cheaper market to help them quickly capture the target market within one year. Customers have high emotional attachment with MMC, they are willing to donate and purchase constantly from MMC. Finally, the marketing platform are very important. Flexible sales model helps MMC overcome the shortcomings of having limited stores. Online shop makes worldwide people can pick MMC coffee online.
We discussed more advantages of MMC in this article. MMC has an ethical vision and mission of objectives, a unique brand position. It takes advantage of the differentiation market strategy, customer loyalty program, and online sales platform to gain significant profits in the first year. Father Daniel Mary led his team to finally realize their dream of building a new and better place for the Carmelite Monks of Wyoming.
However, some reasons determine that MMC cannot quickly grow into a mature company. Insufficient productivity leads to its inability to mass-produce. Very few stores limit MMC to be known by more customers. The most fundamental problem is that the brand positioning closely related to religion which has been packaged MMC as a niche brand, but Niche brand usually is hard to expansion.
Mission Statement vs Vision Statement. (2018). Retrieved from https://www.diffen.com/difference/Mission_Statement_vs_Vision_Statement.
Ruffin Prevost Gazette Wyoming Bureau. (2010, July 28). Monks seek tax relief, OK on
monastery. Retrieved from https://billingsgazette.com/news/state-and regional/
Thompson, A. et al. (2017). Crafting and Executing Strategy, the quest for competitive
advantage. 21stedition.ny, ny: McGraw hill.