Coffee Bean & Tea Leaf Marketing Plan
Coffee Bean & Tea Leaf Overview
The Coffee Bean and Tea Leaf [CBTL] was founded by Herb & Mona Hyman in 1963 in Brentwood, California. CBTL is the oldest and largest privately held specialty coffee and tea retailer in the United States and celebrates its 50th anniversary this year. According to Hoovers, online, the company operates approximately 900 franchised stores worldwide with sales of $198.1 million last year. CBTL serves various coffee, tea and blended drinks. CBTL stores sell a variety of bulk coffee and tea as well as assorted accessories such as tea pots, infusers, and coffee cups. CBTL’s three main competitors are: Starbucks, Peet’s Coffee and Tea, and Caribou Coffee Company (http://www.hoovers.com). CBTL slogan says “find your flavor…is not just words it is a commitment to our customers and the foundation upon which we operate” (http://www.coffeebean.com). CBTL selects only the top one percent of Arabic beans for its coffee and uses the finest hand-plucked whole tea leaves. CBTL carefully roasts their coffee beans through the “art of crafting” to produce the best tasting coffee (http://www.coffeebean.com). They produce coffees from light and subtle to dark and distinctive. The company purchases their tea leaves directly from the growers in Sri Lanka, Kenya, China, Japan, Thailand, and India. Purchasing direct from the grower assures the tea leaves are handcrafted to CBTL’s standards for quality, taste, and heritage. Cultivated close ties to the growers helps CBTL stay connected to the people for whom the tea is a livelihood, which goes beyond fair wages by giving back to the plantations, estates, and communities by supporting local education and health-care programs (http://www.coffeebean.com). CBTL believes strongly in social responsibility and donates to charities, foundations, and schools in the United States and around the world. Their donation program is called “The Caring Cup” (http://www.coffeebean.com). The have supported domestic programs in the United States such as The Help Group and Support from Home. CBTL donates $1 for every pound of a special blend of coffee. Coffee Bean is still growing and a major competitor is Starbuck’s.
Description of the New Product or Service
In an attempt to gain market penetration and increase product recognition we, Coffee Bean and Tea Leaf, will be creating and marketing Vending option for consumers. Through creative design we will be able to:
* Visually the experience will be such that customers feel like they are using a CBTL brewing device. * The taste experience will/shall deliver consistent and positive product that engender a sense of comfort and desire for CBTL products. * Familiarize consumers with our brand and design.
* Bundle/group advertising with this vending/remote experience. * Deliver and repeat the CBTL mission statement and experience. Through strategic placement we will be able to:
* Take advantage of natural gaps in potential market places, buildings, campuses, big box Stores, commercial and, business centers. * Compete with competitors where in expensive markets/locations. * Utilize strategic partnerships complement marketing and customer experience. Partnerships will be formed to capitalize on possible marketing and cost synergy * Selecting existing businesses that have relationships with our desired customers we can create mutually beneficial partnerships. Bed Bath Beyond, Costco, Pets Mart etc. * Proving Internet access with coordination with Verizon or ATT can provide another mutually beneficial venture and add value to our total product experience. This product will highly compatible with social media
* Promotions will be conducted through social media.
* Friends/networks will have ability to gift others beverages redeemable at vending and...