Taste Trends of the Coffee Industry Essay Example | Topics and Well Written Essays - 2500 words

Taste Trends of the Coffee Industry - Essay Example Resource based view to management asserts that the management must prioritize the effective management of both tangible and intangible assets at the firm thereby optimizing productivity. The production of agricultural products is seasonal a feature that influences the patterns of both the supply and demand of such products including coffee. Such factors present marketers with numerous operational challenges as they seek to develop competitive brands in such markets. Among the leading coffee markets in the world are Brazil, Philippines, India and Europe. The availability of the products in the market especially during particular seasons results in increased supply of the product thereby resulting in reduction of the prices of the product. Introducing a new product in such a market therefore requires effective analysis of the industry with the view of understanding the intricate feature of the industry. Marketing is a function of the management mandated with the establishing, anticipating and satisfying customer demands. Marketers of coffee brands thus face myriad challenges arising from the structure of the market. Key among the challenges is competition. As one of the oldest industries in the world, the industry attracted numerous entrepreneurs who specialize in similar functions thereby competing for the same markets in South America, Europe and parts of Asia. Competition influences the demand and supply thereby influencing the productivity of the industry as the numerous players target the same market. The players must therefore develop effective strategies in order to position their products effectively thereby safeguarding their profitability. While the size of the market has remained constant throughout, the supply changes depending on the prevailing factors thereby influencing the number of marketers who operate in the industry.