Innovation and Enterprise: An Implementation Plan for Cafepod Coffee Co.

This report discusses how Cafepod Coffee Co. can benefit from an innovative idea and how to implement it effectively. It covers the theories of innovation, including diffusion of innovation theory and disruptive innovation theory, and proposes an implementation plan for the launch of their new product, herbal coffee. The plan includes justification of the idea, target audience, marketing, cost, and how it will be launched.

Innovation and
Enterprise

Table of Contents
Introduction .....................................................................................................................................3
Task 1 ..............................................................................................................................................3
Task 2...............................................................................................................................................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

Introduction
Innovation is introducing something new in the company it can either product, service or
process. In order to promote new growth or value and reactivated the company. It helps the
company to gain the market share and profitability of the company. Whereas, enterprise is
another word for company or for a profit business. Its objective is to earn profit. For the present
report Cafepod Coffee Co. is taken into consideration which was established in 2011 by Brent
Hadfield and Peter Grainger whose objective is to provide good quality coffee to adventurous
coffee drinkers. It is introducing new product that is Herbal coffee. By the relevant theories of
innovation the company is using diffusion of innovation theory and disruptive innovation theory
which will help the product in easily acceptable by the consumer (Chundakkadan and
Sasidharan, 2020). Apart from this the company will explain how idea will benefit them by the
implementation process. Which will include the justification of marketing, costs, idea, target
audience and how it will be launched.
Task 1
Cafepod Coffee Co. is an organisation that could benefit from an innovative idea. It is an
independent business of craft coffee which was established in 2011. It was founded by Brent
Hadfield and Peter Grainger and for adventurous coffee drinkers they provide quality coffee to
enjoy at home. They got inspiration by the London Coffee as it got creativity, pushes the
boundaries and passion. Their products are available in all online retailers and all major
supermarkets which is easy for the customers to purchase the products. It has wide range of its

products such as compatible aluminium pods, ground coffee, nespresso and roast whole being.
The delicious blends include ristretto, intense roast, decaf espresso, brunch blend, supercharger
espresso and SW18 daily grind (Diéguez-Soto, Garrido-Moreno and Manzaneque, 2018).
Theories Of Innovation:
Diffusion Of Innovation Theory: It is one of the most oldest social science theories. It
emerged in communication to explain how, product or an idea diffuses and gains momentum
through specific social system or population. It seeks to explain why and how new practices and
ideas adopted with timelines potentially spread out over long period. It describes the speed and
patterns at which new products spread through a population. It is often applied in marketing in
order to help promote and understand the adoption of new products. In this theory the main
players are early adopters, late majority, innovators, early majority and laggards. The end result
of the diffusion theory of innovation is that adopt a new idea, product, behaviour, as a part of
social system or people. Here it will analysed that how frequently the public will accepts its new
product and accept the new product or services in the market effectively and efficiently. In
context to Cafepod Coffee Co. launches new product or variety in the company that is herbal
coffee. By the help of diffusion theory of innovation it will help the company to outline the other
advancement and new technological spreads throughout cultures and societies, from introduction
to widespread adoption (He, 2021). It is used to design the public health programs. The
population will accept this innovation as now people are becoming more health conscious. They
will accept this innovative idea of introducing herbal coffee which will not harmful for the
customers at all. In order to promote the adoption of new products this theory is used by the
marketers of cafepod coffee co. as they can easily find out the set of people who are passionate
about the product and can easily adopt its new product.
Disruptive Innovation: It is the process not a service or product which occurs from the
nascent to the mainstream. Business models of new firms differs significantly from incumbent. It
is one of the important theories of innovation and it provides the explanation to why established,
large companies one day get befall by smaller ones and this introduced the theory of disruptive
innovation. It is the process of transforming the highly sophisticated or expensive product,
service or offering into simpler, more accessible and affordable to a broader population. There
are different types of disruptive innovation that is low end disruption and new market disruption.
The entrant then increase with the profitability and improves offerings and moves upmarket. As

it can be more beneficial for the company in innovation of new products and increase its market
share effectively and efficiently (Kuo and Smith, 2018). In context to the herbal coffee product
of cafepod coffee co. it help to analyse the market can be more profitable. About innovation
driven growth it is a powerful way of thinking. It is used to transform the goods and services into
an affordable and simple options for traditionally or bottom-tier unmarketable consumer. It is
analysed the consumer and market so that providing herbal coffee to its customers can be more
profitable, in which kind of market it can be profitable and at what prices the customer can afford
its products. It is the process by which small company like cafepod coffee co. usually with fewer
resources, challenges larger and moves upwards and an established businesses. It established its
new product that is herbal coffee by creating new market segment. Through the disruptive
innovation it will the herbal coffee and the company to increase its profitability, increase market
share, builds brand image and goodwill in the market effectively and efficiently. It helps to
create value network and new market or even enters in an existing market at the bottom and can
eventually displaces established products, alliances and market leading firms (Lei, 2018). Not all
the innovations are disruptive, drawn if they are revolutionary. Here the company introduces its
new variety of product that is herbal coffee at an affordable prices in the existing market by the
use of disruptive theory of innovation as it helped the company to identify the customers
intention and at what prices they can able to buy the products, demand, the competitors that
already exist. What kind of technology and innovative ideas their competitors are using and
about their innovative products that exist in the market.
Task 2
Produce An Implementation Plan:
By implementing the plan of innovative products like introduction of herbal coffee of
cafepod craft coffee co. it will benefit the company in many ways. It will help the company to
increase the market share, build brand image, increase profitability and goodwill in the market. It
will benefit the company by improved communication between key stakeholders and team
members. Better management of resources and better organisation and for everyone who is
involved in the project it increased the accountability (Kumar and et.al., 2020). By launching a
new product it will increase the revenue of the company successfully. Now a days herbal and
natural products are in high demand which will increase the company's reputation in the market.
Implementation Plan:

It will include the justification of the idea, target audience, how it will be launched,
marketing and cost. It can help the company in successfully launching the product effectively
and efficiently and able to increase the goodwill and market share.
Idea: The company is launching its new idea by introducing the new or innovative
product in the company and in market. The cafepod coffee co. is launching its new product that
is herbal coffee. As by this herbal coffee it will going to not going to harm anyone's health and
able to provide natural and healthy product to its customers effectively and efficiently. It is an
innovative idea for the company and for the consumers also to consume the herbal coffee instead
of normal coffee. This idea will going to influence many customers to buy the product. The
company uses the new idea by analysing the consumer base and market demand. As consumers
are becoming more health conscious and wanted to use natural and herbal product so that
cafepod coffee co. get the idea to innovate new product that is herbal coffee.
Marketing: By the help of marketing the company can able to develop brand awareness
through month to month increase of new consumer, through a steady. It will achieve the status in
the market and develop an increase in sales appropriately. The company is using marketing
strategy in order to sell its new product in the market and increase the profitability which can be
utilised in the future of its business effectively (Markovic and Bagherzadeh, 2018). For herbal
coffee the company is marketing in the existing market as in the existing market the consumers
already knows about the products and services and the quality of its products. It will use the four
Ps of marketing mix which are product, price, place and promotion in order to do marketing of
new or innovative product in the existing and new market.
Target Audience: It is a group of people which are identified as potential customers of a
business. At first it is necessary to identify the needs and wants of the customers and the
company is able to fulfil them accordingly. The company cafepod coffee will target its audience
who can easily buy the herbal coffee products. The consumers who are health conscious will buy
the product in the market and enjoy the herbal coffee. It will target its audience by carrying out
clients interview and by analysing the customer base. Identify the industry trends and conduct
the market research. The company target its audience who will buy the herbal coffee at an
affordable price and able to consume the product effectively. It targeted mostly the age group of
20-50 and are capable to buy.

Costs: The company will going to keep the price of the product at medium not so high
and not so low. So that the consumer can able to buy the product effectively and efficiently and
able to consume on the regular basis (Rumanti And et.al., 2018). It keep the flexible price and
competitive also in order to stay competitive in the market for the long run. In order to build the
brand image, increase profitability and increase the market share the cafepod need to prices of its
new product comparatively low and able to provide the product at the right market and to the
right customers.
How It Will Be Launched: the cafepod craft coffee company will launch its new product
in the market appropriately and able to generate revenue in many ways. Some of them are which
the company will be using to launch the herbal coffee in the market. By using social media,
physical selling the company will launch its product. By using social media networking sites
such a Instagram, Facebook, Snap-chat etc. The company can introduce the new product and it
influence the large number of audience in order to buy the product. Through physically it can
post the banners and distribute templates in the area where it sells the herbal coffee with its
existing product at large supermarket and on online stores efficiently (Tojeiro-Rivero and
Moreno, 2019).
Conclusion
From the report of innovation and enterprise it has been analysed that innovation is an
introduction of new product of the company in the market and this can be either a product,
service or a process. Whereas enterprise is the another word for a business whose objective is to
earn profit and revenue generation. Here the company was chosen is cafepod craft coffee co. and
it has launched the herbal coffee product for its customers and for company. In this report the
organisation has been identified that could benefit from the innovative idea. By the help of
innovative theories that disruptive innovation and diffusion of innovative theory helped the
product in easily acceptable by the consumer. In addition to this, a proposal for the business has
explained that how it would be benefit them (Yang and Lin, 2020). The process of
implementation has been explained such as justification of idea, target audience, how it will be
launched, marketing and cost has been explained. So that it can launched its new or innovative
product in the market effectively and efficiently.

References
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