Kraft Heinz’s Maxwell House brand is introducing its first innovation in nearly a decade with Iced Latte with Foam. The company said it is the first-ever foaming agent brought to grocery shelves. The last major innovation for Maxwell House was Iced Coffee Concentrates in 2015.
Click here to read the story at fooddive.com.
- What is innovation?
- Is an innovation the same thing as an invention?
- Why is innovation in business?
- What are the two different types of innovation?
- Which best describes this innovation from Kraft Heinz?
- What is a brand?
- Have you ever heard of the brand Maxwell House?
- Who owns the Maxwell House brand?
- Based on what you learned from this story, describe this innovative new product from Maxwell House.
- This story states that the new innovation from Maxwell House is the first in nearly a decade from the brand. Why do you think it has been so long since their last innovation?
- What is a product life cycle?
- Which stage of the life cycle best describes this product from Maxwell House?
- How might this new innovation help Maxwell House reach more consumers?
- Why is that important to Kraft Heinz?
- What is pricing?
- Why is pricing an important part of the marketing mix?
- How much will the new Iced Latte with Foam product cost?
- How do you think Kraft Heinz determined that price point?
- What is profit margin and why is that important to Kraft Heinz?
- If you were a marketing professional working for Kraft Heinz, how would you recommend they promote the new Maxwell House product? Be prepared to share your ideas in class.