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Marketing Unit Final
Transcript of Marketing Unit Final
Tea Irene Chen
Sylvia Young Size of US Tea Market Size of US Coffee Market Target Market for US Tea and Coffee Drinkers Target Market of US Tea and Coffee Drinkers Target Market of US Tea and Coffee Drinkers Target Market of US Tea and Coffee Drinkers 1990 $ Value by Type
Trad. $0.87 Billion
RTD $0.20 Billion
Fd Srv $0.50 Billion
Specialty $0.27 Billion
Total $1.84 Billion Demographic Psychographic Geographic Behavioral 2008 $ Value by Type
Trad. $2.00 Billion
RTD $2.95 Billion
Fd Srv $1.02 Billion
Special $1.16 Billion
Total $7.13 Billion 2010 $ Value by Type
Trad. $2.15 Billion RTD $3.30 Billion
Fd Srv $1.02 Billion
Special $1.30 Billion
Total $7.77 Billion Upper-middle class community
Discretionary Income available
Median household income over $50,000
COFFEE: 18-24 (fastest growing, 2005- 26%, 2007- 37%), 25-39, 40 to 59 (61%), 60 years and up (most – 74%) – BASICALLY 18 AND UP
Women and men have the same habits but different reasons for
Hispanics drink more coffee
Single or DINKS California
Massachusetts People buy Starbucks because of the brand
People spend an average of $164.71 on coffee per year
“Regulars” Marketing Mixes of Competitors - PRODUCT Styled in modern tin cans
Upscale tea emporiums and tea bars
Packaged fresh, at the counter
Gives 1% of annual profits to CARE
Add flowers for fragrance and taste
Loose leaf tea assortments based on health and taste preferences
Tumblers and kettles Teavana Marketing Mixes of Competitors - PRODUCT Starbucks Drinks:
Frappuccino blended beverages
Sandwiches, panini & wraps
Brewing equipment (Verismo System)
www.starbucks.com Marketing Mixes of Competitors - PLACE Over 200 locations in the U.S., Mexico, and Canada
First tea emporium in Atlanta, Georgia
Online First shop at Pike Place!
12,937 stores in the United States
There is a store almost in every corner
When you travel to other countries, there is also Starbucks (19,972 stores in 60 countries) Teavana Marketing Mixes of Competitors- PRICE Starbucks 2 ounces ranges from $3.80 to $32.28
8 ounces ranges $15.20 to $100
Sale items 30% off www.teavana.com/about-us
en.wikipedia.org/wiki/Starbucks Marketing Mixes of Competitors- PROMOTION Teavana Seasonal savings (right now – 30%)
Free samples with every order online
Free shipping of > $50
Free samples in store
Videos on origins of teas
Health benefits: antioxidants, etc. Starbucks en.wikipedia.org/wiki/Starbucks
www.teavana.com Teavana www.teavana.com/customer-service/help Marketing Mixes of Competitors - PROMOTION Starbucks Rewards Card (star dash and gold card)
Buy a reusable cup/tumbler and receive $0.10 off every purchase
Happy hour - $2 Frappucinos
Free Refresher Starbucks www.starbucksmelody.com/2012/01/28/february-starbucks-promotion-conversation-29-star-dash-and-the-2-00-breakfast-wrap-with-drink-purchase/ How often do you drink coffee or tea?
"Per week: 3-5 espressos "
Where do you go?
"Starbucks and home, more of Starbucks (stronger, better, convenient)"
What types of coffee/tea do you enjoy?
How long have you been drinking coffee or tea?
Why do you drink? Tired? Taste?
"I would say I'm a coffee addict, but not because I need caffeine, but because I enjoy the taste. It satisfies my cravings"
Is there a specific coffee company you prefer?
"Starbucks, is closer to me, conveniently located than other coffee places. They're also familiar with my usual."
Why do you prefer Starbucks?
"Starbucks treats me exclusively, like a preferred customer. They customize my drink to fit me and make it the way I like it. I am a valued member. They also offer a rewards program."
Do you have a usual?
"Grande Dopio Espresso with 1 pump white mocha, 2 pumps toffee nut with soy"
How much would you say you spend on coffee?
"$10/week, $40/month. It's cheaper because I am a gold card member, so my drink is $2.70 instead of $4.00. I get benefits such as free syrups, free birthday drinks, and one free drink every 12 purchases."
What types of flavor do you like? Spicy? Bitter? Fruity?
"I like bold, dark roast coffee such as espressos."
How much are you willing and able to pay for your drink?
I would be willing to pay $3.50, but then I wouldn't go as much." Research: Connecting With the Community Interview Results Research: Connecting With the Community AT STARBUCKS:
Social gathering, sit and talk (2 to 3 people)
Meetings, business interviews
College students, study groups
Technology oriented – people on laptops, free Wi-Fi, on phones
Younger people – tend to buy and go (drink and snack)
Older people – tend to stay
Sells coffee products (machines, Tazo tea, via instant, tumblers)
Tend to stay for an hour or longer
Average wait time in line to order: 1 minute 30 seconds
Average wait time for drink: 3 minutes
Music: relaxing, calming, jazzy, nothing too upbeat
3-5 people working behind counter Observation of Customers Weight to Go! Pu-erh Tea Potential Target Market of Italian Café Chain Demographic Potential Target Market of Italian Café Chain Potential Target Market of Italian Café Chain Potential Target Market of Italian Café Chain SWOT Analysis Discretionary income available
Median household income over $50,000
Caucasian population, however becoming more ethnically diverse
Business people/office workers
Ages 18 and up
Single or no children Suggested Marketing Mix for Italian Café Chain - PRODUCT Suggested Marketing Mix for Italian Café Chain - PRODUCT Espresso: a small cup of very strong coffee
Americano: American-style coffee, but stronger; weaker than espresso and served in a large cup
Doppio: double espresso
Freddo: iced coffee
Hag: decaffeinated coffee
Latte: hot milk mixed with coffee
Macchiato: espresso "stained" with a drop of steamed milk small cappuccino
Cappuccino: espresso infused with steamed milk Suggested Marketing Mix for Italian Café Chain - PLACE Washington
Virginia Geographic Major cities Washington
and more! Coffee Seasonal promotions
Free shipping online for orders over $30
Gift sets during holidays/birthday
Gift cards Psychographic Drinking for enjoyment/relaxation
Areas of social gathering
Herbal teas are healthier Behavioral Drinking for health benefits
Willing to spend money on specialty coffee
Will also spend time in a restaurant to receive service (leisure time)
Higher quality defines their status Suggested Marketing Mix for Italian Café Chain - PROMOTION www.ncausa.org/i4a/doclibrary/getfile.cfm?doc_id=15 buy online & ship
buy in convenient store locations (in malls) www.ncausa.org/files/Market%20Research/NCDT2012_free_download.pdf www.ncausa.org/files/Market%20Research/NCDT2012_free_download.pdf Manigate, bevete e siate felici. www.professorshouse.com/Food-Beverage/Beverages/Hot-Drinks/Articles/Coffee-Facts-and-Statistics/ -Nisa Supasatit
Starbucks Gold Card Member www.streetdirectory.com/food_editorials/beverages/coffee/current_trends_of_coffee_consumption.html
www.sbdcnet.org/small-business-research-reports/coffee-shop-2012 www.professorshouse.com/Food-Beverage/Beverages/Hot-Drinks/Articles/Coffee-Facts-and-Statistics/ www.teavana.com/about-us aging.senate.gov/crs/aging5.pdf Areas of social gathering
Friend/family bonding time
Men drink for energy
Women drink for relaxation/enjoyment Tea Fruity tea - antioxidants
Dried fruits - vitamins
Flower tea - enhances senses of taste and smell
White tea - light, subtle flavor; antioxidants; low caffeine
Chocolate, nutty tea - alternative to coffee (chai tea latte)
Straight tea - unflavored and unscented
Black tea - strong Suggested Marketing Mix for Italian Café Chain - PRICE Half-priced drinks! They should enter the market!