Pick one coffee shop – local or national chain. The links below may help guide you with this selection. Please feel free to pick alternate coffee shops not referenced in the below links http://www.villagevoice.com/restaurants/the-10-best-coffee-shops-in-jersey-city-and-hoboken-6561978 1. What is the one product or service selected from your chosen company choice? (.5 points) Explain your rationale for this selection. Provide at least 3 reasons for this section. (.5 points) 2. Who are your selected product/service’s customers and what are its customers unique (heterogeneous needs)? (1 point) 3. What is the price of your product/service you have selected (.5 points)? Do you think you get value for money for based on what you pay? (.5 points) 4. Use the course concepts of the efficient frontier, Pareto dominated, inefficient firms as discussed in the textbook to explain your answer. For this question, you will have to think about at least 2-3 comparative firms to arrive at your analysis. (1 point) 5. What do you estimate is the likely customer’s demand (you can assume one customer/you) per week/month/annual for your product/service? Provide your calculations for the estimate (1 point) Draw the demand/supply curve and price intersection for an annual demand/supply operations management scenario. (1 point) Explain the rationale and analysis of your annual demand. (.5 points) 6. What are the inconvenience factors, capabilities, and trade-offs? Explain your answer with at least 2-3 reasoning criteria for each.
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