Marketing paper

Marketing paper - Jordan Cohen Marketing Individual Paper...

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Jordan Cohen Marketing Individual Paper Introduction When the name Cornerstone pops up in a conversation, thoughts of fun, flirting, and a little dose of alcohol seem to always conjure up in the minds of College Park students. Be it the prime location for off-campus fun at the corner of Knox Rd. and Baltimore Ave. or the ridiculously loud music or the mere fact that everyone bounces into each other as the premium for space becomes greater and more pronounced, the upbeat and rowdy mood of Cornerstone Grill and Loft attracts by far the largest crowds in all of College Park. While the night always ends with bright lights to hurry the patrons out of the bar, day time hours are a much different story. The menu for quick appetizers and sandwiches and hamburgers is precisely what the local workforce needs when looking for a quick bite to eat. The food is priced rather moderately compared to larger sports bar chains as the area is a mainly working class market segmentation on a budget. Many workers come from neighboring towns such as Hyattsville and Greenbelt and Laurel to eat at Cornerstone during the day as it provides a fast and friendly atmosphere with a good selection of food to serve. The wait staff is mostly female and incredibly good looking which is definitely a plus when contemplating other possibilities. In the end, the majority of sales come from late night alcohol consumption. On the busier weekend nights, the line can stretch all the way to neighboring bars and seem as if the chances of gaining admittance in a timely fashion are slim. Luckily, the intimidatingly large bouncers at Cornerstone are highly skilled and can spot a fake identification a mile away. This limits underage drinking and also the risk of being fined or even shut down temporarily for violating underage drinking laws. Cornerstone Grill and Loft appears to be a pretty mundane building from the outside as the aged white bricks have seen better days. The second you enter the front door the entire atmosphere changes. Rustic hardwood covers the bar floor and sports posters and memorabilia blanket the walls to create a true college sports bar scene. Every direction you look, a plasma television is staring you down, allowing virtually all occupants to have a first-class view of the selected sports game or local news channel. At the end of the night, the smiles on the customers’ faces further establish Cornerstone Grille and Loft as the cornerstone food and alcohol retailer in all of College Park. While Cornerstone Grille and Loft maintains market share dominance when compared to the competition, this is only achieved from effective management of environmental forces and more specifically, the Porter Five Force Analysis. Substitute products provide a viable option for consumers when price increases precipitate the need
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for a cost-reducing alternative. This is especially true when the business has a finite competitive advantage which
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This note was uploaded on 04/24/2008 for the course KNES 130 taught by Professor Jang during the Spring '08 term at Maryland.

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Marketing paper - Jordan Cohen Marketing Individual Paper...

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