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.