Industry
Consumer Products
Customer Profile
SharkNinja is a major global home appliance manufacturer. The company is focused on bringing home kitchen and cleaning products to market. SharkNinja is a market leader and is known for continually pushing innovative new products into the vectors it targets. On average, SharkNinja is bringing 4-6 new products to market on a yearly basis. The company has found significant success with over $1.5 billion in annual revenue and some of the highest rated consumer products online.
Situation Analysis
The coffee machine segment was a target for SharkNinja because the space was stagnant. There had been limited innovation in the market for many years. Coffee machines in the US have always been predominately loose ground filter coffee machines. These products had been on a race to the bottom trying to incentivize consumers with lower costs. Alongside the filter machines were the pod coffee machines that focused on providing consumers with a quick and convenient cup of coffee. But, the pod segment typically sacrificed quality for convenience. Rounding out the market offering were the more expensive espresso machines. As a whole, the US coffee drinker typically drinks filter coffee at home so espresso machines always placed third next to the more popular loose ground and pod filter coffee machines.
Solution
The company saw an opportunity to innovate in the space and bring to market a hybrid machine for the US consumer. A machine that was both a loose ground filter machine and a semi-espresso machine. The Ninja Coffee Bar introduced the market to the concept of differing brew strengths allowing consumers to brew normal, strong, and highly concentrated brews. The highly concentrated brew setting essentially mimicked the intensity of espresso allowing users to create espresso based beverages like cappuccinos and lattes. Additionally, users could select brew sizes allowing them to brew a full carafe of a just a cup of coffee. This all-in-one approach to coffee ended up being a significant success with year 1 sales exceeding $10M and successfully carved out an entirely new market segment for the company.
Ninja Coffee Bar CF900
Ninja Coffee Bar CF800
Benefits
The Ninja Coffee Bar brings value in its variety. It has the capability to produce multiple brews and multiple sizes allowing consumers to go from a normal filter coffee carafe to an espresso concentrate with the flip of a button.
