Steaming Ahead towards the Dutch Home Coffee Market
How new business ventures with hardware B2C products can work towards coherent evidence-based market entry through a two-step framework: market segmentation and value-based pricing.
W.P.C. von Morgen (TU Delft - Industrial Design Engineering)
H.J. Hultink – Graduation committee member (TU Delft - Design, Organisation and Strategy)
Jeroen Coelen – Mentor (TU Delft - DesIgning Value in Ecosystems)
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Abstract
This thesis operates at the intersection of entrepreneurship and strategic product development, addressing the critical challenge new hardware business-to-consumer ventures face when entering established markets. The research focuses on SteamUp, a Dutch new business venture developing premium milk steaming technology for home coffee enthusiasts, where notable customer interest has been measured. Still, it lacks sufficient data to support coherent evidence-based market entry. This project develops a Framework of Best Practices that enables hardware B2C ventures with limited resources to systematically work towards coherent evidence-based market entry by examining Problem-Solution fit and Model-Market fit as essential building blocks. Through application of this framework to SteamUp's market entry challenge, the research clarifies market opportunities and entry possibilities, enabling further steps towards market entry that are both substantiated and pursued with greater clarity.