11A Idea Napkin #1
1) You. Since my senior year in high school I have had experience as a part of a large, innovative business. I have worked at a Chick-fil-A restaurant for almost 3 years now, as the graphics and social media marketing specialist. I have a extensive experience with customer service and promoting food products.
2) What are you offering to customers? The product I am proposing is smaller portioned food and ingredients sold in grocery stores. This allows for single individuals to cook for themselves, without wasting any products.
3) Who are you offering it to? The best demographic to offer this product to is singles individuals, especially college students. College students struggle with money, so they are perfect for a cheaper, smaller portion.
4) Why do they care? Customers already buy food, and this product actually saves money and prevents wasteful buying of food. The individuals that I have spoken to are already frustrated and disappointed with this problem, so I believe they would be willing to try to fix it with this product.
5) What are your core competencies? What sets us apart is that we would actually save people money in the long run. The only companies that I have found that have food products individually packaged are boxes of ingredients, for the receiver to cook. This option, however, does not allow for freedom of cooking and enjoyment, while also being really expensive.
Nancy,
ReplyDeleteYour solution seems very straightforward and easy to implement. The concern I have is what makes your solution unique, in a way that makes your solution not replicable. This was what the question regarding your core competencies was about - not the product, but something unique, for example skills or experiences (this was stated in the lecture). Perhaps your connections to or experience in the food industry could be a core competencies? As a marketing expert, perhaps you know the market better than others?
Hi Nancy,
ReplyDeleteI enjoy how simplistic your idea and concept is. You have worked in the food industry before and you are using prior knowledge along with the evaluation to a problem in order to create a profitable concept. I think that your next step would be to start looking into the logistics of operations and see if the profit from these products will out weight the fixed and variable costs.