Marketing Plan the Coffee Bean and Tea Leaf
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: …show more content…
* Being the first of a big brand to offer a vending machine option gives CBTL a competitive advantage. * CBTL is known for helping the communities of the various areas where their Coffee Beans and Tea are grown with their “Caring Cup Initiative.” ((http://www.coffeebean.com).
* Not having enough customer participation to justify the rent, space and product used to create the vending machines. * The fact that CBTL is primarily well known on the West coast makes it harder to penetrate different parts of the country
* Being the first large company to offer the product gives a competitive advantage. Offering a quicker easier way to attain the coffee and tea desired by customers means not losing the shares to gas station coffee vending machines for busy customers unwilling to wait in long store lines. * Not only offering coffee, but the incredible tea CBTL is famous for gives a competitive edge to the machines offering only coffee.
Threats * Other companies and competitors such as Starbucks, Peet’s Coffee and Caribou offer threats to the stability of the product. * Current vending machine companies such as Nescafe and Cup of Café * Imitators
The Types of Buyers the Organization Will Target and Why With this product,