Mystic Monk Coffee Case Analysis
Mystic Monk Coffee Case Analysis Father Daniel Mary wanted to create a new monastery near the location he was currently in. His vision included larger housing/residence complexes, more acreage, and new church among other improvements needed. The main problem is the financial concerns and if the current monastery’s coffee business can earn them the needed income to be able to purchase the local ranch for their new monastery. The other problem comes with Father Daniel Mary not wanting to sacrifice worship time in to make more money with the coffee business. In order to realize the goal of purchasing the ranch, Mystic Monk Coffee needs to increase their profit margin. They can do this without taking additional time away from their daily worship routines. First they should spend the money and buy a larger roaster. Even though the current demand is not exceeding supply, it might be wise investments to purchase it now then wait for the future. Mystic Monk Coffee should also try and increase their brand awareness to not only their target audience of catholic coffee drinkers, but start to market regionally to ALL coffee drinkers. They should also look into doing something to decrease the percentage of profits they are giving their affiliate websites, 18% is taking a toll on their final net profit amounts. Another way they can increase their profits is to look into raising the cost of their product. There is research showing that people are willing to pay more for a premium cup of coffee, and they can even tilt their marketing campaign to be a more “premium” brand. Increasing profits without decreasing the monks worship time is a difficult task, but feel the answer lies in the better marketing of their product and possibly increasing their price points.