me: Hot Wave
Task 1A
Mission statement: “To provide a quick and convenient alternative to the traditional method of purchasing hot drinks.”
Our strategy is to sell self heating hot drinks in a can in a very competitive hot drinks market. This does not seem as daunting as our product has such a unique selling point, and great functionality. We will sell to customers who will greatly benefit from this product either directly through our website or indirectly through retail outlets. We have identified our key customers who are outdoor enthusiasts, business professionals and students wanting quick pick up, people wanting a novelty product, people in the medical profession, and gamers.
Hot wave will operate from a centrally located warehouse where we will store the self heated drinks. From here we will be able to distribute to individual customers and retail stores. Pending on the success of the company we aim to increase the number of warehouses around the UK.
The main benefit of this product to our target audience is to save time and inconvenience. The product would allow consumers to avoid the hassle of preparing flasks, or queuing in coffee shops. An added benefit to the product is the low cost compared to freshly made coffees.
We hope to dominate the niche market, as self heated drinks are to be a new entrant into the UK market. We have the resources to compete in the UK market from knowledge gained operating in the Japanese self heating drinks market. Although there is no direct competition in the market there are indirect alternatives to our product for example Starbucks, which we will consider in our strategy. As our product is so distinguished customers will be able to differentiate between alternative products.
Due to the lack of knowledge of the UK hot drinks market and the unpredictability of our new product we will carry out extensive research such as focus groups, customer meetings with retail outlets and questionnaires. We...