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Marketing Strategy for Coffee Bean and Tea Leaf

   

Added on  2022-11-23

13 Pages4207 Words441 Views
ORGANISATION BEHAVIOR REPORT
TABLE OF CONTENTS
EXECUTIVE SUMMARY
BACKGROUND OF COFFEE BEAN AND TEA LEAF
ENVIRONMENTAL ANALYSIS OF CBTL
MACRO-ENVIRONMENTAL (PESTEL) OF CBTL
MARKETING STRATEGY
Marketing Objective
Financial Objectives
Societal Objective
Segmentation, Position and Targeted Market
MARKETING RESEARCH OF CBTL
SECONDARY RESEARCH
MARKETING MIX SUMMARY
DETAILED STRATEGY FOR PRODUCT IN MARKETING AND MIXING
CONTROL
REFLECTIVE STATEMENT / CONCLUSION
REFERENCES
EXECUTIVE SUMMARY
This report is about Coffee bean Company that operates in Singapore and South-east Asia. It
begins with an environmental analysis of the company and its marketing strategies. The company
data collection and analysis that aid in creating a good marketing plan for coffee Company Ltd.
Through research, we find out the strength and weaknesses of the company and create a strategic
Marketing Strategy for Coffee Bean and Tea Leaf_1
solution that coffee bean used to overcome their obstacles and improve their company
altogether[AT1].
BACKGROUND OF COFFEE BEAN AND
TEA LEAF
Coffee Bean & Tea Leaf (CBTL) is one of the American largest coffee chains, owned by
International Coffee & Tea, LLC. Today, CBTL owned more than 1000 franchised stores in the
United States of America and also in other 29 countries, which include Singapore. (Our-heritage,
2018)
ENVIRONMENTAL ANALYSIS OF CBTL
It's a process of identifying the factors that affect the running of an organization both internally
and externally. The analysis usually entails accessing threat levels and the opportunities
involved. (T Tian, S Freeman, M Corey, JB German, 2017).
SWOT ANALYSIS[AT2]
Factors
Strengths
Weaknesses
Internal factors
1. Strong brand recognition – Coffee Bean Company is well recognized in the food
industry.
1. Business Model of Coffee Bean Company Ltd can be easily copied and imitated by the
competitors in the beverage. The company name needs to build a platform model that can
integrate suppliers, vendors, and end-users.
Factors
Opportunities
Threats
External factors
Marketing Strategy for Coffee Bean and Tea Leaf_2
Increasing implementation of online service programs by coffee
Shortage of skilled human workforce - Given the high turnover of employees and growing
dependence on an innovative solution, Coffee bean can face skilled human resources challenges
in the near future.
MACRO-ENVIRONMENTAL (PESTEL[AT3]) OF CBTL
- Legal and regulatory issues – Coffee bean Company Ltd has benefitted from lower taxation
policies throughout the western hemisphere, and this has resulted in high profits and increasing
spending in the research and development. (LR Batista, SM Chalfoun, G Prado, RF Schwan,
2013).
- Economic climate – Government expenditure in Singapore has remained steady over the year's
hence increasing investment and disposable income for industries such as Coffee bean
Company[A4]. Development of infrastructure has facilitated the growth of Coffee Bean
Company since more customers can easily access their products[AT5], and this will increase the
sales of coffee bean.
- Demographic – Media plays a very vital role in building the public image of a company in
Singapore, and companies such as coffee bean can rely on this trend to market their products. (E
Yuniarti, FC Saputri, A Mun'im, 2009).
- Technological factors Technology transfer and licensing issues for Coffee bean Company
Ltd – In the Consumer sector there is no influential culture of technology transfer and companies
often are reluctant to transfer or permit technologies for fear of creating competitors out of
collaborators. Empowerment of supply chain partners – Technology has shortened the product
life cycle, and it has enabled suppliers to develop new products quickly. It has put pressure on
Coffee bean Food Company always to give their customers a wide range of products to choose
from. Coffee bean Company itself has encouraged invention and innovations among its members
to fit in the product market in Singapore. (R Urgent, MB Katan 1998).
Political factors-Coffee bean company enjoys political stability. In Singapore, government
agencies provide a peaceful environment for any business to thrive economically.
Social Factors-This involves the behaviors, values, and preferences of the people. In Singapore,
Coffee Bean Company receive positive market from the local society; hence, this has majorly
contributed to its growth and development as a company.
- Micro Environmental [AT6]– Customers: If the buyers have reliable bargaining power then
they usually tend to drive the price down thus limiting the potential of the coffee bean Company
Ltd to earn sustainable profits
Suppliers: If suppliers have reliable bargaining power, then they will extract a higher price from
the coffee bean Company Ltd. This is going to impact the potential of coffee bean Company Ltd
to maintain above-average profits in the Food Processing industry. (E Yuniarti, FC Saputri, A
Mun'im, 2000).
Marketing Strategy for Coffee Bean and Tea Leaf_3
Competitors: Current players should be willing to earn lower profits to reduce the risks from new
players if there is a substantial threat of new entrants in the Food Processing industry. Channel
members: It becomes difficult for existing players such as Coffee bean Company Ltd to earn
sustainable profits if the competition is intense.
MARKETING STRATEGY
Coffee bean Company needs to incorporate the following key focus areas to grow its brand in
Singapore and all over the world.
• Product packaging: Product packaging is one of the most crucial marketing strategies on which
marketers focus on in the food industry as consumers will always judge the product by their
packaging, especially in the food and beverage industry It helps the customers to choose their
products, and in case of food service industry, brand logos, menu card design, and food
presentation and color are the aspects that get a consumer's attention. ( I Ahmad, AS Pertiwi, YH
Kembaren,2008).
• Social media marketing: People love clicking pictures of food, so Coffee bean should utilize
this opportunity to market themselves online. Instagram and Pinterest are one of the biggest
platforms where Coffee Bean Company can thrive through social media.
• Partner or Associate with Other Brands: Brands can offer the opportunity of a more marketable
product by merely making sure that you highlight their product in your marketing campaigns.
Affiliations always give consumers more confidence to try your product offering. (I Ahmad, AS
Pertiwi, YH Kembaren,2008)
Marketing Objective
1. To increase sales by at least 15% by the end of the year.
2. Build brand awareness in social media and other platforms.
3. Launch new products or services gradually.
4. Target new customers in other parts of the world.
5. Enter new markets internationally or locally by the end of the year.
6. Improve stakeholder relations by holding meetings and events annually.
7. Enhance customer relationships by giving out gift vouchers and other giveaways.
8. Improve internal communications and technology to stay ahead of the game.
Financial Objectives[AT7]
Marketing Strategy for Coffee Bean and Tea Leaf_4

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