Keurig Breweries Company's Market Success | Free Essay Example

Keurig Breweries Company’s Market Success

Words: 817
Topic: Business & Economics
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Description

A coffee-making machine has become an inseparable element of any company’s interior. Furthermore, the device has become a common element of a typical household (Quindlen, 2018). However, few people know its name, not to mention the history of its origin and development. A closer look at Keurig Brewing Machine will help to explore the nature of a brand name, how a product is marketed, and the efficacy of the selected strategies.

Therefore, studying the Keurig brewing machine as a perfect example of successful marketing and an outstanding branding technique should be seen as a necessity. An in-depth look at the approach used to promote the product and the corporate vision based on which it was designed will help to understand how organizations can create instantly memorable brands that all segments of customers will find useful and worth purchasing.

Brand and Company

As a brand name, the Keurig brewing machine has cemented its position in the list of products that have become an integral part of both business and home settings. With Keurig brewing machine having been turned into a household name, the product should be seen as the product of the company’s vision and mission implemented successfully. Its producer, Keurig Dr. Pepper, has been known for decades in the food industry for a wide range of food and beverages that it has been producing. However, it was the coffee making machine that made the organization particularly well-known in the global market.

According to the official mission and vision statement issued by the organization, Keurig Dr. Pepper focuses on encouraging continuous progress. The organization wants to warrant the title of the “company of the future” (“Corporate responsibility”, 2018, para. 1). Therefore, Keurig Dr. Pepper deserves to be called a very progressive company, with its present-day focus ranging from enhancing the technological development of the industry to raising environmental concerns (Govindarajan, 2016). Thus, Keurig Dr. Pepper can be considered as an important player in the food and beverage industry.

Company Background and Vision

The current vision of the organization involves creating the setting in which customers would feel comfortable and could enjoy the full extent of the high-quality services and products that the company has to offer. Although the range of goods that Keurig Dr. Pepper delivers to its customers cannot be technically defined as healthy, the firm does contribute to the management of key environmental and ecological concerns that similar organizations typically face in the industry (Quindlen, 2018).

Therefore, the overall vision and background of Keurig Dr. Pepper are quite progressive since they reflect the need to embrace environmental concerns in the food industry. Similarly, the philosophy based on the principles of responsibility, customer satisfaction, and diversity provides the platform for furthering the development of the brand and attracting new customers.

Product Background

The background of the Keurig Brewing Machine is quite simple, yet this simplicity does not deprive the machine of its impressiveness as a product. As the organization presents it, the development of the Keurig Brewing Machine took place as an elaborate process of searching for the right combination of functions and processes (Quindlen, 2018). According to the official history of the product, the development stage took over 20 years, with the author working on the mechanism to reach the necessary effect and fit a coffee brewery into a single device (Quindlen, 2018).

Although initially, the product was bulky, expensive, and unreliable, further improvements made it completely suitable for any setting, including homes. Therefore, while seemingly representing an impeccably working device, the Keurig Brewing Machine conceals the history of countless failed efforts, search for the optimum solution, and the desire to revolutionize the industry and meet the needs of its customers.

Reasons for the Choice

The reason for choosing the described product is defined by the need to explore how goods become successful in the selected market. However, what makes the product particularly interesting in retrospect is how it was marketed to the end customer. Due to the focus on improving quality and building a perfect machine without any hiccups in its functioning, neither its creator nor the company had an opportunity to fund the promotional campaign. This meant that the Keurig brewing machine had a vast number of copycats, which in turn, spent a copious amount of time and effort on demonstrating the functionality of their product (Quindlen, 2018).

Keurig Dr. Pepper preferred to use their competitors as the means of spreading the word about the product, while the quality of the Keurig brewing machine was enough to ensure that no imitator could approach its success (Quindlen, 2018). Furthermore, the focus on communication and creating a one-on-one user experience made it possible for Keurig Dr. Pepper to leave a lasting impact on the target market. Therefore, it is the combination of hard work, an innovative concept, and a smart marketing decision that makes the Keurig Dr. brewing machine such an interesting object of study.

References

Govindarajan, V. (2016). What innovative companies can learn from Keurig’s highs and lows. Harvard Business Review. Web.

Corporate responsibility. (2018). Web.

Quindlen, K. (2018). The smallest Keurig & K-cup coffee makers. Bustle. Web.