Export Market Plan
Caribou Coffee was founded in 1992 and is the second largest coffee retailer in the United States with a far reaching demographic of loyal customers. The company focuses on selling high quality products and offering customers high quality gourmet coffee. Caribou Coffee uses high quality Arabia coffee beans and its best to meet customer’s expectations and needs. The company focuses on creating a unique coffee house environment which provides customers a comfortable atmosphere and a quality experience. By providing “an experience that will make the day better” Caribou Coffee has created competitive advantage in their store operations. The company’s dedication to creating a unique experience for customers by combining high quality products, a distinctive coffeehouse environment, and excellent customer service, differentiates their place in the coffeehouse industry.
Caribou Coffee is a coffee company that operates premium coffeehouses that offer high-quality coffee, espresso beverages, cold beverages, specialty teas, baked goods, sandwiches and whole beans. The company was founded in 1992 and was rapidly grown both domestically and globally. Currently the company has 581 stores and revenue of $326.5 million. Caribou Coffee is in a position to capitalize on emerging market trends and own a segment of the market that is unoccupied by its competitors: that of a national, branded coffeehouse that is still connected to the local community and concerned with its well-being.
Caribou Coffee was founded in Edina, MN in 1992 after its founders, John and Kim Puckett were inspired by a climb to the top of the Sable Mountain in Alaska. The view became their vision for Caribou Coffee. “The breathtaking panoramic view became the entrepreneurial vision for Caribou Coffee - a company that believes excellence is a product of hard work, and that life is too short for anything else” (Caribou Coffee, 2012).
Today Caribou Coffee is the second largest company-operated premium coffeehouse operator in the United States offering a wide variety of products that range from espresso beverages to branded merchandise. The company also operates in commercial and franchise outlets and partner with a variety of companies including hotels, airlines, Keurig, Inc. and Kemps. With 6,086 employees Caribou Coffee is focus on “creating a unique experience for customers through a combination of high-quality products, a comfortable and welcoming coffeehouse environment, superior customer service and our own blend of expertise, fun and authentic human connection” (Caribou Coffee,2012).
Caribou Coffee current target markets are two sub-groups: 18-24 and 25-39 year olds. According to the National Coffee Association 40% of 18-24 year olds and 54% of 25-39 year olds are drinking coffee each day. These two groups’ frequent more foodservice industries and are willing to spend the most per visit.
The majority of Caribou Coffee’s customers are from the Midwest, primarily because the majority of their domestic stores are located in Minnesota and Illinois. “We believe that we have strong brand awareness and loyalty in markets where we have a significant coffeehouse presence. With a solid core of successful locations in the Midwest, as well as a strong footprint in other select regions, we are executing a targeted and measured expansion plan” (Caribou Coffee, 2012)
Another target market that Caribou is a part of is commercial segment. The company sells high-quality premium whole bean, ground bean and Keurig K-Cups to a variety of retail stores, grocery stores, foodservice providers, hotels and on-line customers. The commercial segment has proven to be one of the biggest revenues for the company and has helped expand brand recognition nationwide. “The sale of our brand in K-Cups for use with the Keurig single-cup brewing systems increases...