Monday, October 14, 2019
Coffee Bean Essay Example for Free
Coffee Bean Essay The Coffee Bean Tea Leaf was founded by Mona and Herbert Hyman and it is established in Los Angeles, California in the year 1963. The first Coffee Bean Tea Leaf were established here in Malaysia in 1997. The company offers a wide variety of its own signature beverages that ranges from coffee to non-coffee drinks and launched their very own signature drink; Ã¢â¬Å"The Original Ice BlendedÃ¢â¬ in 1989 and has been the main highlight of its company ever since. We will take a look into the possibility of bringing in a new product that could be a mainstay for the Ice Blended range that is already available here in Malaysia. Currently, the range of its Ice Blended drinks is limited to several coffee and non-coffee drinks. Although from time to time Coffee Bean has been introducing promotional and seasonal Ice Blended drinks, none of these drinks will be served in the main menu after that the promotion is over. With this. Although a majority of Malaysians like to drink coffee oriented drinks, With the introduction of the Honeydew Ice Blended to the market, it will help boost the challenge of bringing in new flavors for the market. Situation Analysis The Coffee Bean Tea Leaf is entering its fifteenth year of operation in Malaysia with many of its products ranging from its well known Ã¢â¬Å"The Original Ice BlendedÃ¢â¬ beverages which carries coffee and non-coffee drinks have been well received by the public. However. 2.2 SWOT Analysis The following SWOT analysis captures the key strengths and weaknesses for the proposed product and describes the opportunities and threats that it will face. 2.2.1 Strength The Honeydew Ice Blended drink is offered during the summer seasons and it is well known as the refreshing summer drink in United States. With summer all year long in the South East Asia region, this product has also been proven as a main-stay in the Philippines and SingaporeÃ¢â¬â¢s The Coffee Bean Tea Leaf. This product carries a cool, chilling and refreshing sweet taste which suits the pallets of the South East Asian region. 2.2.2 Weaknesses This product may not be suitable for coffee drinkers as the drink does not offer any coffee taste and itÃ¢â¬â¢s a fruit oriented drink. ItÃ¢â¬â¢s also not suitable for those who are watching their calories and diet as the drink carries a high calorie range due to the sweetness and the cream that the drink offers. As this product targets the youth which comprises of teens and working adults in their twenties, some may be price sensitive to this beverage offer as it may be expensive compared to the local. 2.2.3 Opportunities Younger generations, whom fell under the legal drinking age, are known as one of the fastest-growing segments of the beverages market. These generations prefer fresh and upcoming products rather than stagnant products that they have consumed daily. With a brand new product being introduced, it will trigger the targeted younger generation with the enthusiasm to go. The lifestyle factors converger. 2.2.4 Threats Global coffee and tea market have been increasingly growing and it has since been an extremely competitive sector. Coffee Bean Tea Leaf goes up against its closest rivals such as Starbucks, Dome, Cha Time and Old Town CafÃ © here in Malaysia. Competition The Coffee Bean Tea Leaf has been a powerhouse brand in providing its ice blended beverages. However, there are companies that do make similar ice blended beverages such as Starbucks and Cha Time. The Coffee Bean Tea Lead has the upper hand because of the creation of the Ã¢â¬Å"The Original Ice BlendedÃ¢â¬ line which gives the company the extra edge. Although the mentioned competitors have been making ice blended beverages, The Coffee Bean Tea Leaf has its own signature way of making these beverages special and cannot be matched with its competitors.