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Goals:

• Identify the target audience for a new coffee shop in the US market.
• Understand customer preferences for coffee drinks, roast levels, and other features.
• Develop a data-driven product and pricing strategy.

Business needs:

The investors lack the analytical skills to leverage the data from the Great American Coffee Taste Test and require insights to make informed decisions about their new coffee shop.

Methodology:

Data from the Great American Coffee Taste Test was analyzed using Excel and Tableau to identify trends and patterns in customer preferences. This included factors such as:

• Demographics (age, gender, location)
• Coffee consumption habits (frequency, preferred locations)
• Coffee preferences (roast level, drink type, flavor profile)
• Additional factors (price sensitivity, willingness to try new things)

Key findings:

• Target audience: The data suggests that the target audience should be young professionals (aged 25-44) who are frequent coffee drinkers (2-3 cups per day) and enjoy trying new things. They are willing to pay a premium for high-quality coffee and appreciate convenient locations.
• Product offering: The coffee shop should offer a variety of coffee drinks, including pour-over coffee. Light and medium roast, strong coffees, and full caffeine were the most popular in the taste test. Additionally, the shop should offer alternative milk, sugar, and sweetener options to cater to a wider range of customer needs.
• Pricing strategy: The pricing strategy should be based on the value proposition of the coffee shop. Since the target audience is willing to pay a premium for high-quality coffee, the shop can charge slightly higher prices than competitors. However, it is important to ensure that the prices are still competitive within the local market.

Additional recommendations:

• Create a comfortable and inviting atmosphere: The coffee shop should be a place where customers can relax, work, or socialize. This can be achieved through comfortable seating, free Wi-Fi, and friendly customer service.
• Offer a loyalty program: A loyalty program can be a great way to encourage repeat business and build customer relationships.
• Stay up-to-date with coffee trends: The coffee industry is constantly evolving, so it is important to stay up-to-date with the latest trends and customer preferences. This can be done through attending industry events, reading trade publications, and conducting customer surveys.

By following these recommendations, the investors can increase their chances of success in opening a new coffee shop in the US market.

Note: It is important to remember that this is just a starting point, and the specific recommendations may need to be adapted based on the specific location and target market of the coffee shop.