Harvard Case - MyT Brewer (A)
"MyT Brewer (A)" Harvard business case study is written by Valerie Mendonca, Ansita Aggarwal. It deals with the challenges in the field of Entrepreneurship. The case study is 17 page(s) long and it was first published on : Mar 15, 2022
At Fern Fort University, we recommend MyT Brewer pursue a strategic growth path focused on leveraging its innovative brewing technology and expanding its market reach through a combination of organic growth, strategic partnerships, and potential acquisition opportunities. This strategy will capitalize on the growing craft beer market, enhance brand recognition, and ultimately position MyT Brewer for a successful Initial Public Offering (IPO) in the future.
2. Background
MyT Brewer is a young, innovative craft brewery founded by two passionate entrepreneurs, Tom and Michelle. Their proprietary technology, the ?MyT-Brew? system, allows for efficient and customizable brewing, enabling them to produce a wide range of high-quality beers. Despite early success in their local market, MyT Brewer faces challenges in scaling their business, securing funding, and navigating the competitive landscape of the craft beer industry.
3. Analysis of the Case Study
Strategic Analysis:
- Competitive Advantage: MyT Brewer possesses a significant competitive advantage with its unique ?MyT-Brew? system, allowing for differentiation through product innovation and customization.
- Market Opportunity: The craft beer market is experiencing rapid growth, driven by consumer demand for high-quality, artisanal products. This presents a significant opportunity for MyT Brewer to expand its market share.
- Challenges: MyT Brewer faces challenges in scaling production, securing funding, and establishing a strong brand presence in a crowded market.
Financial Analysis:
- Current Financial Position: MyT Brewer is currently bootstrapping its operations, relying on personal savings and limited debt financing. This limits their ability to invest in growth initiatives.
- Funding Needs: To achieve its growth objectives, MyT Brewer will require significant capital investments in production capacity, marketing, and distribution.
- Potential Funding Sources: Options include venture capital, angel investing, crowdfunding, and potentially a strategic partnership with a larger brewery or beverage company.
Marketing Analysis:
- Target Market: MyT Brewer?s target market is discerning beer enthusiasts seeking high-quality, innovative craft beers.
- Marketing Strategy: MyT Brewer needs to develop a comprehensive marketing strategy that leverages both traditional and digital channels to build brand awareness, drive sales, and engage with its target audience.
- Brand Positioning: MyT Brewer should position itself as a leader in the craft beer industry, emphasizing its innovative technology, high-quality products, and commitment to sustainability.
Operations Analysis:
- Production Capacity: MyT Brewer?s current production capacity is limited, restricting their ability to meet growing demand.
- Distribution Network: MyT Brewer needs to establish a robust distribution network to reach its target market effectively.
- Supply Chain Management: Optimizing supply chain management is crucial for ensuring consistent product quality and timely delivery.
4. Recommendations
Short-Term (12-18 months):
- Secure Funding: MyT Brewer should actively pursue funding opportunities from venture capitalists, angel investors, or crowdfunding platforms.
- Expand Production Capacity: Invest in additional brewing equipment and facilities to meet growing demand.
- Develop a Comprehensive Marketing Strategy: Implement a multi-channel marketing approach, including digital marketing, social media campaigns, public relations, and strategic partnerships with local businesses and events.
- Optimize Distribution Network: Expand distribution channels to reach new markets and increase market penetration.
- Develop a Minimum Viable Product (MVP): Explore the development of a mobile app or online platform to facilitate direct-to-consumer sales and enhance customer engagement.
Medium-Term (24-36 months):
- Strategic Partnerships: Seek strategic partnerships with complementary businesses, such as restaurants, bars, or other beverage companies.
- Explore Acquisition Opportunities: Identify and evaluate potential acquisition targets within the craft beer industry to expand market reach and product portfolio.
- Focus on Sustainability: Implement sustainable practices throughout the brewing process, from sourcing ingredients to reducing waste, to appeal to environmentally conscious consumers.
- Develop a Strong Brand Identity: Invest in branding initiatives to create a memorable and distinctive brand image that resonates with the target audience.
Long-Term (36+ months):
- Prepare for IPO: Begin laying the groundwork for a potential IPO by achieving consistent profitability, strengthening corporate governance, and building a strong management team.
- International Expansion: Explore opportunities for international expansion into emerging markets with a high demand for craft beer.
- Develop New Products: Continuously innovate and develop new product lines to stay ahead of the competition and cater to evolving consumer preferences.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of MyT Brewer?s strengths, weaknesses, opportunities, and threats. They align with the company?s core competencies in brewing technology and innovation, while addressing the need for growth, funding, and market expansion. The recommendations also consider the competitive landscape, consumer trends, and the potential for long-term sustainability.
Key Assumptions:
- The craft beer market will continue to experience growth in the coming years.
- MyT Brewer can successfully secure funding to support its growth initiatives.
- The company can effectively implement its marketing strategy and build a strong brand presence.
- MyT Brewer can navigate the challenges of scaling its operations and managing its supply chain.
6. Conclusion
MyT Brewer has the potential to become a leading player in the craft beer industry by leveraging its innovative technology, focusing on strategic growth, and building a strong brand. By pursuing the recommended strategies, the company can capitalize on the growing market opportunity, secure funding, and position itself for a successful IPO in the future.
7. Discussion
Alternatives:
- Focus solely on organic growth: While this approach may be more conservative, it could limit MyT Brewer?s growth potential and expose it to greater competition.
- Partner with a larger brewery: This could provide access to resources and distribution channels, but it could also compromise MyT Brewer?s independence and control over its brand.
Risks:
- Failure to secure funding: This could hinder the company?s growth plans and potentially lead to financial instability.
- Competition from larger breweries: MyT Brewer may face challenges competing with established breweries with greater resources and market reach.
- Unforeseen market changes: Changes in consumer preferences or economic conditions could impact demand for craft beer.
Key Assumptions:
- The craft beer market will continue to grow.
- MyT Brewer can successfully execute its growth strategy.
- The company can maintain its competitive advantage in the market.
8. Next Steps
Timeline:
- Year 1: Secure funding, expand production capacity, develop marketing strategy, optimize distribution network.
- Year 2: Implement marketing strategy, explore strategic partnerships, evaluate acquisition opportunities, focus on sustainability.
- Year 3: Prepare for IPO, consider international expansion, develop new products, strengthen corporate governance.
Key Milestones:
- Achieve profitability within 12-18 months.
- Secure $5 million in funding within 18 months.
- Increase production capacity by 50% within 24 months.
- Launch a successful marketing campaign within 12 months.
- Establish partnerships with 5 key distributors within 18 months.
- Develop a new product line within 24 months.
By following these recommendations and diligently executing its growth strategy, MyT Brewer can establish itself as a successful and sustainable player in the dynamic craft beer industry.
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Case Description
Amit Kasliwal was a participant of the Post Graduate Program for Executives at the Indian Institute of Management, Ahmedabad in 2013 when he came up with an idea of a tea-brewing machine. Kasliwal conducted a survey to understand the tea-brewing machine industry and needs of the market and subsequently started working on prototypes for the same. He formally set up his company in 2015 and started developing a Minimum Viable Prototype (MVP). Joined by co-founders Harvinder Rajput and Saurabh Borah, he branded his prototypes as MyT Brewer. In December 2016, the start-up ran out of resources. The dilemma for Kasliwal and his team was whether to continue working on an improved prototype or enter the market.
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