Brands looking to expand their customer-reach sometimes pair up to offer consumers a breadth of options within the same industry arena.
For example, Taco Bell and Pizza Hut join forces at certain locations hoping to leverage each other and satisfy a wide range of consumer preferences.
Another example is Dunkin Donuts and Baskin-Robbins, who offer both dinner food and dessert options. This concept of two courses in one location hopes to attract consumers looking for dining convenience; two different courses from two different brands.
While these pairings make sense to some degree, they aren’t necessarily complimentary items intended to be consumed at the same time. So where they offer variety, they don’t effective leverage each other’s brand name to attract a wider range of customers.
Over the past few years of acquiring varied food and beverage brands, JAB Holding Co. found itself owning Einstein Noah Restaurant Group and Caribou Coffee. These two brands are popular within their current regions, however COO Sarah Spiegel soon discovered an opportunity to leverage the company’s brand inventory to satisfy an existing need while exposing its brands to new markets.
Market research uncovered a common dilemma faced by consumers looking for breakfast options; “Do I want a good coffee experience or a good breakfast sandwich?”
After identifying this consumer need, Spiegel sought to provide consumers with a viable option by combining two already popular brands; Einstein Bagels and Caribou Coffee.
While each brand was popular in its respective regions, some Caribou Coffee enthusiasts had never heard of Einstein Bagels; and vice versa.
This concept one-stop-breakfast-shop is launching 42 locations in eight states with plans for more in the coming years.