The Ninja Coffee Bar: Product Analysis

Introducing a new product to existing inventory or starting a brand new business requires planning. It is imperative that a product analysis is conducted in order to determine the extent of consumer demand as well as identifying the target market. Ultimately consumers within a free market will regulate the price of the product, it is still essential for a business owner to create a strategic plan in order to determine product performance and consumer appeal given a certain price point. A business analysis of a new product will help estimate your product price, identify market potential, forecast sales volume, identify the break-even point, consider the long term plan, and help determine product placement as well as ideal locations (Tanner, Jr. & Raymond, 2012). This essay will evaluate the Ninja Coffee Bar in regards to increasing consumer sales. …show more content…
Coffee is the second most sought after commodity in the world (Wevio, 2015). Coffee farms provide economic benefits to over 25 million people and coffee exports create a 20-billion-dollar industry. With niche coffee shops boasting a seven percent annual growth rate it is no wonder consumers expect more from their coffee maker. This product allows consumers to make single cups, travel cups, half carafe, and full carafe quantities. This feature alone allows consumers to eliminate the pod type coffee makers as well as the traditional pot type coffee makers for the convenience of a single countertop machine. The benefits don’t stop there as the Ninja Coffee Bar also provides consumers the ability to make a classic brew, strong brew, over iced coffee, and