Market Analysis

grocery Analysis cardcastle afternoon tea is specialist insobrietying increasingly being offered in cafes, coffees shops and veto. It originates from Asia and is made upof ardent or cold tea, milk,sugar and giant blacktapioca b eithers. Ice is then added and the assimilate jolted to create the undulate effect. cardhousetea is often referred to as pearl shake, tapioca ball drink boba ice tea and babble drinkamong other things. Owing to their influences, breathe teacafes ar often Asiatic-themed in decor and may alsosell Asian snacks and food.They are often situated in fashionable field of forces of cities,populated by urban professionals with richly disposable incomes and an interest inalternative eating and drinking venues. erupt tea is a tea beverage that originated in Taiwan in the 1980s. The term blitherrefers to the tapioca balls in the drink. These chewy tapioca balls, or pearls,areconsumed along with the beverage with a wide straw. extravasate tea is especi ally popularin many eastbound Asian and Southeast Asian regions a good deal(prenominal) as Taiwan, Brunei, China(including Hong Kong and Macau), Malaysia, the Philippines, Singapore, South Korea,Thailand, Indonesia, Vietnam andAustralia.Bubble tea is a mixture of iced or hot sweetened tea, milk, and often other flavorings. Thedistinctive characteristics of babble tea are the black gummy balls made of tapioca (or, much unremarkably in East Asia, yam starch), called pearls or boba or balls that sit at thebottom of the instill. The pearls are full- size of it than those found in tapioca pudding, with adiameter of at least 6 millimeters, but smaller ones are occasionally employd. They are mostly unadorned brown with a darker brown center, although pearls of other colors orjelly cubes have also lately become available.The original spill the beans tea consisted of a hot Taiwanese black tea, tapioca pearls, condensedmilk, and honey. As this drink became more popular, variations were created. Initiallyiced versions with a hint of peach or plum flavoring began to appear, and then more fruitflavors were added until, in somevariations, the tea was removed completely in favor ofrealfruits. Today you can find shops entirely devotedto blather tea, similar to bubble teacafes of the early 1990s. They usually contain colored pearls that are chosento matchwhatever fruit juice is used, in addition tobrightly colored oversize straws for sucking upthe pearls.Bubble tea is generally split into two types fruit-flavored teas, and milk teas. Milk teasmay use dairy or non-dairy creamers. The mixtures that make upbubble tea vary. Several examples of flavors are strawberry,passion fruit, mango, chocolate, and coconut, and may be added in the form of powder,fruit juice, pulp, or syrup to hot black or green tea, which is shaken in a cocktail shaker orassorted in a blenderwith ice until chilled. The mixture is usually combined with milkandcooked tapioca pearls.Bubble tea bar s often serve bubble tea using a machine to seal the top of the cup withplastic cellophane. This fall by the waysides the tea to be shaken in the serving cup. The cellophane isthen pierced with a straw. Othercafes use plastic dome-shaped lids. Even fruit slushiesand smoothies can have boba added to the drinks. These tapioca pearls are made mostly of tapioca starch, which comes from the tapioca, orbitter-cassava plant. In other parts of the world, thebitter-cassava plant may be calledmanioca or yuca. Cassava is native to South America, and was introduced to Asia in the1800s.The balls are preparedby boiling for 25 minutes, until they are cooked thoroughlybut have not lost pliancy, and then cooled for 25 minutes. After cooking they last about 7hours. The pearls havelittle taste, and are usually soaked in sugar or honey solutions. There are two shops that take aim to be the first creator of Bubble tea succession. One is Liu Han Chiewho worked in Chun Shui Tang teahouse Taichung City, Taiwan in the early 1980s, andexperimented with cold milk tea byadding fruit, syrup, candied yams, and tapiocaballs. Although the drink was not popular at first, a Japanese television show catchdinterestamong businessmen.The drink became well-known in most parts of East and SoutheastAsia during the 1990s. An alternative origin is the Hanlin teatimehousein Tainan City, Taiwan, owned by TuTsongHe Hanlin Bubble tea is made by adding traditional white fenyuan which have anappearance of pearls, supposedly resulting in theso-called pearl tea. Shortly after,Hanlin changed the white fenyuan to the black, as it is today. In the late 1990s, bubble tea began to gain popularity in the major North American citieswith large Asian populations, especially those on theWest Coast and East Coast and inTexas.The trend in the coupled States started by Lollicup in the city of SanGabriel,California and quickly spread end-to-end Southern California. The beverage has receivedmuch attention from mainstrea m American media, includingcovers on National PublicRadio show Morning Edition andthe Los Angeles Times. Bubble teahas spreadinternationally through Chinatowns and other overseas Asian communities. In the U. S. , major chains such as Boba Bee in Chicago are expanding into suburban vault of heavens, specially those with large Asian populations. Bubble teacan also be found inmajor European cities such as Londonand Paris.Bubble tea is also gainingin popularityin Canada, particular propositionly in and aroundthe cities of Vancouver, British capital of South Carolina Toronto,Ontario and Montreal, Quebec where there are large Asian-Canadian communities. It isalso gaining popularity in Australia, especially in Sydney, Brisbane andMelbournewhere there are also uplifted concentrations of Asian immigrants and descendants. ceiling Bubble teatime coffee shops focus is on meeting the demand of a continual local residentclient coarse, as well as a square level of tourist traffic from clos e highwaysMarket Segmentation Customers are likely to be * Young professionals may consider bubble tea anovelty and luxury alternative tothe commuter, lunchtime or after-work coffee. * Although it contains sugar, bubble teais a much relegate alternative tocarbonated fizzy drinks and may therefore bring up to health conscious consumers. * It is popular for people to match meetings such as craft circles and book groups inlocal cafes and coffee shops and a bubble tea cafe could appeal as an unusualalternative. Due to its fairly new status, bubble tea has a authorized novelty measure that mightappeal to people lookingto try distinguishable tastes and flavors. * Office workers looking for a quick snack and drink or a relaxing meeting place. Travelers bequeath be coaxed to bubble teacafes situated at transport locations suchas railway stations or airports these can provide a useful way of relaxing beforeor during journeys. Increasingly bubble tea cafes or outlets are being locat ed attransport terminals servicing clients throughout journeys, change surface short distance commutes.Capital Bubble afternoon tea coffeehousewill focus on two different commercialise segments Commuters and imprisoned Consumers. Commuters are defined as any oneor more individuals in a motorized vehicletravelingfrom point A to point B. Capital Bubble afternoon tea Cafe sterling(prenominal) concentrationwill be oncommuters heading to or from work, or those out on their lunch break. Captive Consumers would include those who are tethered to a campus environment, or ina restricted entry environment that does not al beginning free movement to and from.Examples would include high school and college campuses, wherethere is limited timebetween classes, and bodied campuseswhere the same time constraints are involved,but regarding meetings and project dead nisuss, and special events such ascarnivals, fairsor festivalswhere there is an approach price to enter thegate, but exiting would meananother admission fee, or where re sweetenedments are anintegral part of the festivities. Capital Bubble Tea Cafe focuses on the middle and upper-income markets. These marketsegments consume the majority of bubble tea. Local ResidentsCapital Bubble Tea Cafewants to establish a large regular customer base. This willestablish a healthy, consistent revenue base toensure stability of the business. Tourists Tourist traffic comprises approximately 35% of the revenues. High visibility and combative products and table wampum are critical tocapture this segment of the market. Target Market Segment Strategy The dominant rump market for Capital Bubble Tea Cafe is a regularstream of localresidents. Personal and expedient customer service ata emulous price is key tomaintaining the local market share of this target market.Market Needs Because Capital City has a warmclimate for eight months out of the year, bubbleteaproducts are very much in demand. During the remaining four months of t he year,warmdrinks are in significantly higher(prenominal) demand, along with a slower but consistent demand forbakery products. Much of thedays activity occurs at lunchtime, with a relatively steadyflow for the remainder of the day. Service Business Analysis The retail bubble tea fabrication in theU. S. has recently experienced rapid growth. Theclimate in Capital City stimulates consumption of cold beverages throughout the year.Bubble tea drinkers in the U. S. are finicky about the quality of beveragesoffered at thenumerous cafes across the region. Despite low competition in the immediate area, Capital Bubble Tea Cafe will positionitself as a place where customers canenjoy a cup of delicious bubbletea with a freshpastry in a relaxing environment. Competition and Buying Patterns Competition in the local area is somewhatsparse and does not provide nearly thelevel ofproduct quality and customer service as Capital Bubble Tea Cafe. Local customers arelooking for a high quality product in a relaxing atmosphere.They desire aunique, classyexperience. In addition to gross sales through company operated retail stores, leading competitors selldrinks through other channels of distribution (specialty operations). Larger chains varytheir product mix depending upon the size of each store and its location. Larger stores carry a broad selection of drinks invarious sizes and types of packaging, aswell as accessories such as storage containers, travel tumblers andmugs. Smaller storesand kiosks typically sell a limited line of drinks and,maybe, a few accessories such astravel tumblers and logo mugs.Technologically savvy competitors make fresh bubble tea and bubble tea-related productsconveniently available via mail order andonline. Additionally, a few larger competitorshave made mail order catalogs fling bubble tea, certain food items, and select bubbletea-making equipment and accessories, available. Websites offering online stores that allow customers to browse for and purcha sebubbletea, gifts, and other items via the meshing have become more commonplace as well Strategy and Implementation Bubble tea cafes shops are heavily reliant on impulse buying and passing trade.Thereforethey will benefit from a strong image that is attractive toclearly identifiable types ofcustomer. They are at the forefront of lifestyle branding and as suchreflect the changes in theUSs demographic make-up. Issues to consider when developing a bubble tea cafes client base include * Visibility location will be vital. However, high roadway sites may be difficult toobtain due to high rentand intense competition, particularly from major chains. * palliate of access other locations to consider includes those close to transport, e. g. near railway and bus stations. Shop design bubble tea cafes usually cater for both the leisure and takeawaymarket by having separate areas, e. g. a lounge area and a walk-in area. Manychains have been modeled on specific themes such as Asian style. However, anindependent bubble tea cafemay need to differentiate itself from the large chains. Advertising in a innovation of local publications will increase knowledgeof yourbubble tea cafe anda favorable critique in the localmedia will increase interest. Consideration should be given to extra activities that may attract custom.Forexample displaying art works of local artists or students may bring in customers. Live euphony could increase interest or hosting readinggroup meetings (anincreasingly popular leisure activity) could bring in additional and regular custom. * forwardingal offers most bubble tea cafes attract younger customers, thereforepromoting the business to former(a) age groups may be worthwhile or offering dealssuch as bubble tea and deals. * unsloped quality food and drink will bean essential element as the market is super competitive. If other drinks are served this could bepromoted along with any other unusual elements of the business. * Word of mouth pas s will also beimportant therefore it is important that you offer good customer service andstaff are aware of this requirement. Capital Bubble Tea Cafewill succeed by offering consumers high quality bubble tea, as well as bakery products with individualised service ata competitive price. Competitive Edge Capital Bubble Tea Cafes competitive edgeis the relatively low level of competition in the local area in this particular niche.Capital Bubble Tea Cafewill involve the customers in community support efforts byexplaining that a particle of their purchase price will be donated to a charity of theirchoosing. In so doing, Capital Bubble Tea Cafe has * Provided a customer with a quality productat a competitive price. * Provided the customer with a more convenient method for obtaining their desiredproduct. * Demonstrated how Capital Bubble Tea Cafeappreciates their loyalty andpatronage by donating money to their personal cause. Marketing Strategy CapitalBubble Tea Cafewill be implementing a low cost advertising/promotioncampaign which could involve drive-time radio, but not much more. Capital Bubble Tea Cafewill rely on building relationships with schools, charities and corporations to provide significant free furtherance because of its community support programme. By giving charitable contributions to these institutions, they will get the devise out to their students/faculty/employees/partners about Capital Bubble Tea Cafe. Word of mouth has always provedto be the greatest advertising program a company can instill.In addition, the media will be more than willing to promote the charitable aspectsof Capital Bubble Tea Cafeand provide the opportunity for more exposureevery timeCapital Bubble Tea Cafe writes a check to another organization. Pricing StrategyCapital Bubble Tea Cafepricing will be comparable to the competition, but with thevalue-added feature of immediate convenience. Promotion StrategyThe long-range goal is togain enough visibility to leverage the pro ductline into otherregions and generate inquiries from potential inventors.Todo that, Capital Bubble TeaCafe needs * Public relations services at $1,000 per monthfor the next year intended togenerate awareness of editors and productinformation insertions, reviews, etc. Itis anticipated that the school fundraising program will generate a fair amount ofpublicity on its own and will, perhaps, minimizeor eveneliminatethe need fora publicist. * Advertising at $1,000 per month concentrating on drive time radio. CapitalBubble Tea Cafe will experiment with different stations, keepingcareful track ofresults.As with the school fundraising program, Capital Bubble TeaCafe expects the facilities and signage to be asubstantial portion of our advertising. However,in the start-up phase, Capital Bubble Tea Cafe needs to let people know where tolook for the facilities. Marketing ProgramsDistinctive LogoCapital Bubble Tea Cafewants to touch every customer every day. Thatis why the use ofthe term Come once more with asmiling logo lends itself to being the corporate identifier. Distinctive BuildingsCapital Bubble Tea Cafehas worked closely with the manufacturer to makethe buildingdistinctive, so that it is easy to recognize, andfunctional.Advertising and PromotionIn the first year, Capital Bubble Tea Cafe plans to spend $20,000 on advertising andpromotion, with the program beginning in **. This would not be considered a seriousadvertising budget for any business, but Capital Bubble Tea Cafe feels the exposure willcome from publicity and promotion, so most ofthe funds will be spent on agoodpublicist who will get the word outabout the charitable contribution program andhow itworks in society with the website.Capital Bubble Tea Cafealso believes that word-of-mouth advertising and free beveragecoupons will be better ways to drivepeople to the first and secondlocations. In the second year, Capital Bubble Tea Cafe is increasing the budget to $40,000, since itwill need to promote sever al locations, with particular emphasis on announcing theseopenings and all the other locations. Capital Bubble Tea Cafe will continue to usepublicity as a key component of the marketing program.In the third year, Capital Bubble Tea Cafe will increase its advertising and promotionbudget to $80,000,with the majority of the advertising budget beingspent on drive timeradio. gross revenue StrategyThere will be several sales strategies put into place,including posting specials on high-profit items at the window. The staff will also handout free drink coupons to those whohave purchased a certain number of cups or something similar.Capital Bubble Tea Cafewill also develop window sales techniques such asthe staffasking if the customer would like afresh-baked item with their bubble tea. Sales Programs * Corporate Tasting Events Capital Bubble TeaCafe plans to host tasting eventsfor customers on a quarterly basis. Each quarter, at theintroduction of eachseason, Capital Bubble Tea Cafe will be adjusting its menu to reflect the changesin the flavors served. * Drink Coupons At fundraising events for schools andcorporate events, we willbe giving away drink coupons as door prizes or awards.This encourages theperson to come in for their free beverage and bring a friend or buy a baked item ora package of our bubble teas. * Chamber of Commerce and Professional Memberships Becauseof the need tosell our services, Capital Bubble Tea Cafewill be an active participant in the Regional Chamber, local Chambers of Commerce,Foodservice Associations, and Specialty Beverage Associations. The exposure and fostering that these organizations provide is outstanding, but equally important are thecontacts and opportunities made available