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Innovation and Renovation: The Nespresso Story - Essay Example

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In the stagnating market for coffee, Nestlé came up with a new niche and created a new growth segment, Nespresso, and began the arduous climb to success. As a leading food company employing more than 200,000 people worldwide and raking in SFr70 billion in France alone, along…
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Innovation and Renovation: The Nespresso Story
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"Innovation and Renovation: The Nespresso Story"

Download file to see previous pages Currently, the leadership of Nestle’ makers of Nespresso Coffee, enjoys a significant growth of consumer demand for high quality, gourmet coffee, but although Nespresso commands 90% (Miller, 2000)of the market worldwide, only the upper-crust of the few Continental European, North American and developing countries have acquired the taste for the “coffee- brewed specialty” lifestyle. As such, the need for Nespresso to move toward a more dramatic growth and the need for it to adjust in order for it to develop further in the future is of utmost importance. The sprouting up of competition and the various perks and services they too can offer must be considered. A comprehensive market projection basing on the needs and opportunities should be the goal for the future. This could be easily addressed if the (1) problem of holding back on aggressive advertising is met head-on instead of confining the marketing strategies of Nespresso products through word-of mouth manner as it has always been pursued before because of the fear of some senior management of not reaching its target market: the crème de la crème, is overwhelming the decisions they need to implement instead of seeing the benefits they could glean from it. Nespresso had been employing word-of-mouth only and no adverts as it projects the product to be for exclusive clients only and that enjoying Nespresso is afforded only to the select few. Thus, the target has been , from the start, not the average household but those who have been exposed to refined taste and would pay the extra for a quality drink made in the comforts of their own home. Coming to terms with the need for aggressive advertisement for Nespresso, points us then, to the second problem, albeit, a minor one which is the need for a change in the mindset of Nespresso senior management beyond that which is already enforced, to convince them that this is a necessary undertaking ...Download file to see next pagesRead More
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This company has enjoyed success as coffee is among the most traded commodities and market trends for Nespresso reveal that the company will continue to enjoy success due to emerging markets for its quality products (Seifert, Leleux, & Tucci, 2008, p. 196).
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