new innovation for Starbucks

new innovation for strabucks

I’m wokring on new a new innovation for strabucks whichi is called COFFE TALKS. it’s basically brining guest speaker to give speeches about a topic of there interest.I will be using tikcets that cost 15 including two free drinks from any kind. I need to ansswer this question and see if it viable idea or not. this what I have so far and i need to add mor info to this and turn it to pragraphs instead of bulletpoints.

 

  • What are the critical success factors (the things that must happen in order for this innovation to be viable)?

-Customer interest-through surveys (survey data analysis)

-Getting speakers from different fields at a reasonable price

-Obtaining partnership with CSU at the beginning

-Reaching desired target market using survey data paired with emails

-Attendance correlated to new customers and higher sales

  • What are the key risks and contingencies should something go wrong?

-Speakers not showing up

-$15 entry fee too high for student market

-Lack of interest in people to speak at the event

  • How will you get management to approve the go ahead for this innovation opportunity?

-With proof that it is going to be profitable

 

  • After completing this assessment do you believe this is a viable business innovation opportunity?

-Currently no, but it has potential in the long run

  • If yes, describe why and summarize your findings and illustrate the key next steps that should be taken to move the innovation forward in the company.
  • If no, describe the reasons why this is not a potential opportunity.