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The objective of this assignment is to explore the coffee market in UK and understand the consumer preferences with aid of data resources and the outcome it would have on a new brand of Mysore coffee in the competitive UK coffee market. As the premium sectors develop in the UK, greater emphasis is placed on Arabica beans, with marketing and pack support centered on the provenance and taste credentials of specific beans. Arabica is fast becoming synonymous with premium quality, and this is likely to lead to increased prices, particularly as some countries are seeking to trademark native bean varieties. For instant, Ethiopia applied to trademark two different Arabica beans in the US in 2006 - called Sidamo and Harar (Source Mintel, Report 2006). Arabica beans command a high price because tastes are particular to a growing location. Brazil is the world’s largest producer of Arabica beans. Erratic weather during the growing season 2006-7 led to market nervousness and prices reached around $2.66 per kg, up 16% since 2005 (according to data from the International Coffee Association).
The origin of the coffee the company Amrut distillers basically a liquor and spirits company diversify in to the coffee segment to give value addition to your single malt portfolio is planning to launch in the market a Mysore Coffee which is an Arabica bean and has it connoisseurs throughout the globe. Their channels to distribution would preference in Indian restaurants, Specialist coffee merchants, Retail channel. The idea is to create distinction for an Indian coffee rather than being used as a substitute for Irish coffee. There is a variety of different brands in the market and an issue of brand recognition for an Indian coffee. Consumers today are concerned about health issues and how well it delivers with low caffeine value. It would also have to face resistance from the convenience segment in the market such as vending machines and product development in the ready to drink coffee market.
Coffee shops have a clear role in educating consumer taste buds and extending their preferences in to different varieties in coffee. This has stimulated consumer demand in retail. They are luring away potentially lucrative consumers, typically those that working population, affluent, younger adults away from the retail format of stores because of the environment they provide. They are becoming lighter users of the retail category and satisfying their need through the food service segment which shows this brand to present in this segment too. This analysis will help us to find out the trends in the market and performance of leading brands .We try to create a correlation with coffee consumption and region wise coffee consumption. This would help the positioning strategy of the product in the competitive market.
We may be able to access data sources these days with computer databases, intergrated computer networks and the internet. It is not feasible to give a prefix on data sources .Some examples could be annual statistics which is published every and summarizes detail data on varied fields. Other such examples could be Population Census Reports, Economic Trends, Family Expenditure Survey, Monthly Digest of Statistics, Regional Trends and Social Trends.
The key is how this collected data helps in giving business solutions .Attempts should be made the data should represent statistical population which should be free from bias .Primary and secondary should be well sorted out. Analysis should represent a part of the data rather than the entire data. It is necessary to depict why this particular data is collected and the most apt way of acquiring it. Sample collection methods depend on the type of data that has to be dealt with for the required...