The paper “ Marketing Strategies and Opportunities That a Coffee Shop Bean Bar Can Look upon to Enlarge Its Customer Base and Ensure Market Expansion” is an exciting example of a case study on marketing. This report focuses on a complete marketing plan for Bean Bar, a coffee shop established in 2001 in Adelaide. The report highlights the marketing opportunities for Bean Bar along with its current customer base, its positioning in the market, A SWOT analysis to identify the potential threats and weaknesses and converting them into opportunities and strengths, current market trends of coffee and beverage industry along with legal and ethical requirements that Bean Bar needs to adhere to in order to ensure smooth running of the business.
The report further makes a competitor analysis of Bean Bar along with three specific marketing opportunities which the business can look upon to ensure higher return and growth in the long run. Finally, the report is concluded with an evaluation of the changes that Bean Bar requires in the current market scenario to ensure enlarging its customer base, reputation and market share along with higher growth, returns and sustainable development of the business. BRIEF KNOWLEDGE ABOUT BEAN BARBean Bar is a coffee shop that was established in 2001 in Adelaide and ever since its formation the company has been providing the best coffee beverages to its loyal customers.
The coffee shop specializes in selling coffee along with a variety of other products like iced beverages, sandwiches, and snacks. The company has done well to expand its business and in totality, today has 9 Bean Bars in different premium locations of Australia. The company has been able to draw a large pool of loyal customers owing to its fast service, better quality products, and high customer satisfaction.
The location of the outlets has also helped Bean Bar to expand its customer base. It is to be noted that the coffee shop faces tough competition from other giants like Barista, Café Coffee Day, etc. CURRENT CUSTOMER BASE OF BEAN BARBean Bar coffee shop’ s success depends on the number of loyal customers it can attract to ensure higher sales and brand recognition. Currently, the company targets a large number of corporate employees by opening its outlets in the busy streets of the city.
However, other segments of the customer pyramid are also not left unattended. Its iced beverages are specially designed for targeting customers with the age group of 6-35, whereas the company targets through its special coffee ranging from espresso to black coffee, cappuccino to herbal coffee within the age group of 18-55. The current customer base of Bean Bar thus, compromises of corporate employees, kids, youngsters, middle-aged groups along with the older group. Special products have been designed as per the specific target of their customer base to ensure higher sales and maximum customer satisfaction. CURRENT POSITIONThe number of coffee outlets in Australia has grown by 25% during the last few years along with a 29% increase in coffee lovers.
Bean Bar faces tough competition from other renowned coffee outlets like Barista, Café Coffee Day, etc who holds a major market share in the coffee shops. Bean Bar through its quality service and personal customer attention along with a variety of coffees and other allied products holds a considerable share in Australia particularly Adelaide.
The company with the tagline “ Adelaide’ s Favorite Coffee” attracts a large number of customers to visit its outlets and has been successful in building its own brand name which the customers trust, love and appreciate. However, it is to be noted that the company needs to develop new strategies and proactive planning to enlarge its customer base.