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research study on coffeeshops
research study on coffeeshops
Keurig business analysis
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Keurig’s Three-In-One Coffee Machine
Keurig is a common household name in this generation. In a world where people depend on coffee for survival, Keurig is there to supply everyone with expert coffee machines. As many people know, Keurig specializes in coffee makers and accessories. For my product innovation, I chose to make a product line extension from their coffee making sector. My new and improved coffee maker will be equipped with the abilities to roast raw coffee beans, grind them up, and brew them into a delicious cup of coffee. Currently Keurig does not offer a machine that roasts beans, grinds them, and brews them all in the same machine. This product would be something new that the company has never offered before. In regards to
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Keurig doesn’t offer many products that don’t correspond to the Keurig coffee machines. Keurig is a company that specializes in coffee brewers and their accessories. A few of Keurig’s coffee machines that they offer are the K55, K575, Keurig platinum, and a variety of Single-Serve K cup machines. In addition to these coffee machines, Keurig produces their specialized K-cups for their single-serve machines. The new three-in-one coffee machine fits well into the company’s product mix of coffee brewers and accessories. It will be a nice addition to the mix that contributes something new for the company. I expect this product to encourage Keurig’s loyal customers to try something new, and to encourage other coffee lovers to try the experience that many others have not had the opportunity to …show more content…
This product is built for consumers that enjoy roasting their own coffee. Some of these consumers could be parents or workers who wake up early, college students, and any coffee connoisseur. Consumers will view this product ‘new’ because it is different than anything else Keurig has produced before. The required learning for this product will be semi-extensive, between the dynamically continuous innovation and the discontinuous innovation. Because the consumer will place the product in between these two categories, the learning won’t be too different than previous coffee machines, but it will take time for consumers to learn how to roast the beans and grind the beans to their desired taste. I believe with detailed instructions and a detailed video outlining how to operate the machine will be enough for consumers to learn how to run the coffee brewer.
The three-in-one Keurig roasting, grinding, and brewing machine will be a great addition to the company. It’s innovated design and improved brewing process distinguishes this coffee machine from their competitors. This machine will be one of a kind for the Keurig company and with its reduced price, it will encourage their customers to try something new. It is intended for this product to be a shopping product that the consumers value and make careful decisions upon purchasing the
The larger serving size of Great Cups of Coffee is perhaps the most apparent gage that will improve appeal for the company’s customers. Receiving extra of a proportionately quality product for a comparable price obviously works as an enticement for customers to prefer Great Cups more than the opposition. While customers identify with a better quality and superior taste with fresher coffee, Great Cups supports its effective model of serving coffee that has been roasted no more 72 hours ago and that is blended and ground right at the store. Great Cups also provides as an unintended marketing method community bulletin boards and assists with book club gatherings as well as
Geoff Herzog is the product manager for coffee development at Kraft Foods Canada. After reviewing successful results of single-serve coffee pod systems, he wondered whether it would be successful in other areas. It was July 6, 2004, and Herzog had just learned that Kraft Foods North America was planning an aggressive launch of coffee pods in the United States. He then had only a month to decide whether or not the company should proceed with a simultaneous launch in Canada, or await the U.S. results.
The founders of Keurig Inc. created the company to develop an innovative technique which allows customers to brew one perfect cup of gourmet coffee at a time. In this case, the CEO Nick Lazaris along with the other leaders of Keurig Inc. must determine how to successfully enter the at-home-market for use at customers’ homes, while maintaining a healthy relationship with Green Mountain Coffee Roasters, Inc. (GMCR) and Van Houtte. GMCR and Van Houtte are two of the company’s main roaster partners that own a 70% stake in Keurig, so they want the business to succeed but are a little apprehensive about the company’s marketing and pricing strategies.
Coffee lab environment: The theme of the coffee bar is more like an island, which allows customers to walk around and interact directly and indirectly with baristas. The interactive which also allows customers to express their thoughts, needs, and expressions about the coffee lab. This can bring up to an improvement of the overall coffee lab. It creates inviting environment for its
The key to its success lies not only in the quality of its products but also the ability to differentiate itself from the competition. With Starbucks, it has always been about quality. The company manages stringent quality control measures for sourcing the finest coffee beans, roasting processes as well as customer service and ancillary products. Furthermore, differentiation is key to market control and Starbucks is unquestioningly the most differentiated specialized coffee brands in the world. From the design of its coffee shops to the music played to the types of products offered, everything has a touch of uniqueness.
Seattle-based Starbucks recently announced another price increase for all milk-based beverages at the largest coffeehouse/coffee bar chain in the world. With its trendy appeal and shop on every block personality, Starbucks built itself into one of the premiere brands in the world alongside Google, McDonalds, and Coke. With growth comes competition from all directions. Along with longtime Starbucks enemy Dunkin Doughnuts, a new contender for the java king title has emerged as new java joint, High Point Coffee pushes its way into the fray. Based in Mississippi, the newbie java spot has only been in business for less than five years. However, with its surge in revenues and customer retention, executives recently decided to push the brand nationally, going into direct competition with what they call
I recommend that they implement a friendly contract where Keurig is the sole producer of The Keurig but Green Mountain allows other companies to sell the K-cups to
Another consumer trend that could support the potential success of the Kold machine is the relationship it will have with other well known brands such as Coca-Cola. Consumers are likely to purchase products they already know, and the Coca-Cola brand is very well known throughout the world. Some factors from the external marketing environment that could hinder the success of the Kold machine is competition and social/cultural forces. The Kold machine will face its strongest competitor in SodaStream, which already has been available for quite some time. Even though Mr. Kelly (Keurig'c CEO) mentioned having surpassed competitors in the past this might be a different scenario. SodaStream might have already took most of the market away as analysts are stating it will be more expensive buying Kold pods than buying a can or bottle at the grocery store. These statements will most likely not help growth the industry as much as Mr. Kelly things. Another factor that could hinder the success of the Kold machine is the social and cultural
This machine is amazingly easy to use and requires the user to simply pour water in the dispenser and fill it up. Take a pod of their favorite flavor and insert that, then wait for the machine to do its work, when the lights stop flashing press another button and a good and delicious shot of espresso is ready to be enjoyed. This machine take very little time to pour out the results and is therefore one of the better choices out
A passage I found on Keurig’s company website says the following about their KOLD product. “We view our initial KOLD system launch as a pioneering innovation. We learned from consumer feedback that while the KOLD system delivered great tasting cold beverages, our initial execution of KOLD did not fully deliver on their expectations, particularly around size, speed, and value. Because of this, we are discontinuing the first generation of our Keurig KOLD system. While we work to incorporate our learnings into future beverage systems, we are offering a refund to consumers who purchased a KOLD system”. Essentially, their system had flaws that consumers were quick to react towards. Their target market for this system consists of anyone who has interest
Green Mountain Coffee Roasters initially got started in 1981 as a small café in Waitsfield Vermont and united with Keurig later in 2006. The company produces specialty coffee as well as coffee makers with the help of Keurig whom produces single-cup coffee and tea makers; it is now among their product list. The company roasts 100% Arabica type of coffee transforming it into more than a hundred different coffee products available for selection. Green Mountain Coffee Roasters and Keurig coffee no longer retains ownership of the original café. However, the company still has its headquarters situated in Waitsfield Vermont on a vase land of about 90,000 square feet. (8,400 square meters). The company also prides on having other regional centers which are located in various cities including: Upstate New York, Washington, Maine, Massachusetts and Connecticut. According to the case study, “Exhibit 6 shows the net sales and growth in reference to the year 2008, 2009 and 2010” (C36 in the book, [Dess et al, 2012]). From that data, we can see how the company has developed. The rest of the 2010 annual report also helps in examining the performance of the company which can be seen in Exhibits 3, 4 and 5.
KGM sells many different beverage-related products, from Arabica coffees to beverage systems. They attribute most of their increased revenues to the popularity of their Keurig brewers. Their beverage systems are sold to consumers at cost or at a loss. However, most of their profits are made through the selling of accessories and Keurig beverage related products, such as the portion-packed coffee cartridges known as K-Cups, which can only be used in the Keurig brewing systems. With the increased popularity of the Keurig system, KGM has increased their investments into research and development (R&D) which consists of salary, consulting expenses. However, their increased revenues have stayed well ahead of their costs. For the fiscal year
Caf? Expresso, as the first mover in the coffeehouse marketplace, which has expanded quickly and become one of the ?big three? players in the global coffee shops chain. However, recently this company is continuously facing a lot of problems in terms of its staff, easy-copied business model and product range, resulting this company lost its leading position to the number three. Therefore, its adjusted visionary goal is ?return Caf? Expresso to the number one position in the marketplace? (Beardwell, 2010). To achieve this goal, Caf? Expresso identifies ?the coffee drinking experience? is significant to achieve competitive advantage and customer value-added, which was delivered through three key elements (graph 1),
Instant coffee, or soluble coffee, which is a beverage in liquid form made from coffee and can be soon reconstituted by adding water, has been a popular product for decades (Allwords, n.d.). People has gradually become so used to drinking instant coffee that some even did not know what the fresh-brewed coffee tastes like which was found as a result of tastes tests made by at least one manufacturer (Stacey, Blachford & Cengage, 2002). It would seem that the innovation of instant coffee could make a considerable contribution to economy and people's daily life. The aim of this essay is to analyze the innovation of instant coffee. It will firstly examine the history of coffee which is the origin of instant coffee, how the invention of instant coffee was generated. Secondly, it would explain the history and development of its innovations and discuss the change type of instant coffee innovations. After that, it is likely to discuss the uncertainty and risk calculation of instant coffee during the innovation process of instant coffee and also the competition. Then, it will examine the stakeholder analysis of the innovation of instant coffee and explain how instant coffee was spread to the whole world. Finally, it is likely to analyze the economic and social contributions of instant coffee and the future development of instant coffee would be discussed.
As we know, Starbucks has made a name for itself making and selling coffee and specialty coffee drinks. It has made its biggest impression by becoming the espresso expert and public educator of how to make the perfect espresso; "Roasters" of the company are trained for one year.