Executive Summary : ' The Coffee Industry '

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RENCE LIST EXECUTIVE SUMMARY Technology has revolutionized the way a variety of industries operate today and has turned the world into a “village.” It has made the most remote corners of the world accessible and has generated a new avenue for new business opportunities. Over the past decade, we have seen a number of new business ventures, like Uber and Airbnb. A few years ago, ventures like these would have been unimaginable, and virtually impossible. At the same time, industries, like the coffee industry, that have not taken advantage of said advances and continue to operate almost oblivious to the changes brought about by technology, suffer. Coffee is produced and the industry continues to operate as it has for the past few decades.…show more content…
Respondents were briefed on the venture, and the market at the beginning of each interview. Following the brief, their purchasing habits, patterns, preferences and opinions were evaluated through a series of questions designed to provide insight over their interaction with coffee on a daily basis as well as their biases. 1 interview was conducted with a coffee farmer in Guatemala. The coffee farmer was briefed on the venture prior to the beginning of the interview. The farmer was then asked a series of questions designed to provide insight on coffee production processes, problems the industry faces, and traditional practices. The findings showed a strong interest from both parties. They revealed customer-purchasing patterns, the extent of their knowledge on coffee, and helped identify areas where Finch may fail. Finch’s target market is unfamiliar with home brewing yet shows a strong interest in purchasing coffee directly from farmers, in fair trade coffee and in learning more about Third Wave Coffee. Interestingly enough, findings also revealed a major shortcoming in existing coffee ventures, as all respondents claimed to be highly bothered by crowded coffee shops. Results are then discussed in light of the literature reviewed in the conclusions. The study allowed to get an overview of areas that Finch will need to address moving forward, possible obstacles, and to refine an idea of what milestones should be established, as the business if lifted off the
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