The following week, read your peers’ posts in the Entrepreneurial Eyes discussion forum. Respond to AT LEAST ONE peer and post advice regarding the opportunities their target market, demand, and potential might encounter. (150 words).
The product I would like to create would be an on the go coffee drink that provides a healthier alternative for accessible energy compared to mass marketed and sugar loaded coffee drinks. My company would be called KPack Coffee Company. As a student athlete, our daily schedules are very grueling with classes, practices, weight lifting and homework with very few sources of energy drinks that are tasteful, healthy and provide a sustainable boost that is very much needed. The KPack Coffee Company would provide this healthy, gluten-free, sugar-free, tasteful and low calorie coffee to the beverage industry. The target market would be all gender athletes aged 17-28. Exercise and sport are a very prevalent trend in todays society with the United States leading the way globally with an annual growth rate of 4.5%. Along with the theme of fitness, the prevalent overall theme, the coffee drink, is a booming industry with revenues projected to rise by 8.4% by the year 2024, creating more niche market segments to emerge. This is the perfect opportunity for the KPack Coffee Company to introduce themselves into the market and create a product that universally can give the people the energy they need in the healthy lifestyle they live. The pricing of an individual bottle of KPack would be around $3.30 with an option to buy a 12 pack for $40. The distribution of the product would begin the the North American continent with a retort method of production. This means the filled package is heated, treating beverage and package simultaneously and is the common method used for coffee. The current user penetration for the food and beverage market is 22.8% and will continue to grow to 30.9% by 2024. The product KPack would produce is a universal beverage that can be consumed by anyone regardless of allergies, lifestyle or whether you’re a coffee drinker or not and this is why I believe the demand will coincide with the growth of the food and beverage industry.