Describe the specific details of the following steps. If some steps are unnecessary for your product or service, then justify why they are not needed (and dont present them). What are so
- Provide specific details and numbers as far as possible.
- All numbers, facts, and recommendations must be adequately justified with references, reasoning, and data.
- The report should not only detail what should be done but how they are actionable.
- Use the textbook when supporting some statements or as a source of reference.
1) Describe the specific details of the following steps. If some steps are unnecessary for your product or service, then justify why they are not needed (and don’t present them).
- What are some types of advertising and promotions you would use
- Describe some Prototyping efforts
- Small consumer tests
- Physical product testing such as that done externally at Underwriters Laboratories (UL) or within the company
- Create a timeline for getting your product off the ground or for expanding it. Make sure the timeline has specific milestones. Provide clear details on what steps will be taken to achieve these milestones on the timeline chart.
- Describe the types of individuals and skills needed for the enterprise to succeed over this timeline (including founders). Describe the skill sets that these individuals will need to have. In addition to describing them, summarize them on the timeline chart. Provide specific skills/experience/education.
- EXPENSES: Describe wages and benefits that will have to be provided (if founders plan to take low wages or no wages for a long time this should still be indicated). Also list expenses with as much detail as possible. List these quarterly for the first two years then annually after that, for a total of five years. Entrepreneurs sometimes do not use the same categories as accountants as they like to describe these costs by their names rather than general categories that accountants use – e.g., tables and chairs for Zurich office, car rental for salespeople, etc. Use US dollars or Euros but be consistent.
- REVENUE: Discuss and estimate sales (in words) in units and dollars for each quarter of the first two years, then annually out to the fifth year. Provide justification and source of sales revenue, e.g., 'catering special events for 100-150 people in the Art Museum each month'. Remember to provide both the number of products/meals/events and the revenue. Use US dollars or Euros but be consistent with currency.
- NET MARGIN: Using any well-justified approach (you can use standard accounting procedures if you like, although this is optional) calculate the difference between sales revenue and expenses each quarter.
Also calculate cash on hand after borrowing from your sources, friends and family, banks, etc. To some extent cash-on-hand must be always positive, unless you have a strong credit line; otherwise the firm is in trouble. So investments are based on this requirement.
Explain why individuals or institutions will lend you the amounts needed. You can either use any available software or EXCEL to create financials. Some businesses use simple calculations (plus and minus of cash flow to get an estimate of required capital.
All the detail about our App can check on the documents!
下列图表是显示瑞士过去几年使用food delivery的人数和预测未来几年将会使用food delivery的人数变化。图标显示使用food delivery的人数一直在上涨，在未来几年人数也将会持续上涨。这就表示了，现在food delivery的市场已经被大部分人所接受跟使用。所以选择food delivery市场，这是人们生活所需，并且在将来市场只会被更多人使用和需要。
在uber eats的官方网站上，人们可以搜索到不同种类的食物，或是根据国家食物分类来搜索想要订购的餐馆或食物（如下图所示）。虽然餐厅的种类很多，但是却没有选项是提供超市选购送货服务的。人们无法在网上购买想要的新鲜食材，水果或生活用品，并在下单后立即可以送货到家。这就是现在food delivery所存在的缺口。当人们不想出门采购，或是上班没有时间采购食材，没有新鲜食材的时候，有可以提供送货上门是非常方便的。正是看到了这个缺口，才想要创造一个可以为人们提供从超市为大家提供送货的服务。
另一方面，uber eats的支付方式比较局限，uber eats只可以使用PayPal，信用卡或借记卡。对于现金，现在只针对个别商家可以使用，并没有全部普遍。并且uber eats采取现金充值方式，这种方式并不科学，因为账户中总会有剩余金额无法全部使用完。无法使用现金，对于瑞士人民是不方便的，有些时候人们只想使用现金支付。这也是一个需求缺口，所以app的支付选项有多种可以选择，人们可以选择使用信用卡或借记卡，或是使用现金支付。
The chart below shows the change in the number of people who have used food delivery in Switzerland over the past few years and the number of people who are forecast to use food delivery in the next few years. The graph shows that the number of people using food delivery has been rising and will continue to rise in the coming years. This means that now the food delivery market has been accepted and used by most people. So choose the food delivery market, which is what people need in life, and the market will only be used and needed by more people in the future.
On the official website of uber eats, people can search for different kinds of food, or search for the restaurant or food they want to order according to the national food classification (as shown in the picture below). Although there are many types of restaurants, there is no option that offers supermarket shopping for delivery. People can not buy the fresh ingredients, fruit, or groceries they want online and have them delivered to their homes immediately after placing the order. This is the current gap in food delivery. When people do not want to go out to buy, or they do not have time to buy ingredients at work, and they do not have fresh ingredients, it is very convenient to provide home delivery. It was seeing this gap that led to the desire to create a service that would provide people with delivery from supermarkets to everyone.
On the other hand, the payment method of uber eats is more limited, uber eats can only use PayPal, credit or debit cards. As for cash, it is only available for individual merchants now, and it is not universal. And uber eats uses the cash recharge method, which is not scientific because there will always be remaining funds in the account that cannot be used up. Not being able to use cash is inconvenient for Swiss people, and sometimes people just want to pay in cash. This is also a demand gap, so there are a variety of payment options for the app, people can choose to pay with a credit or debit card, or pay with cash.
,
César Ritz Colleges Washington State University
BA in Hospitality Business Management
Assignment 2: Generating Products to Meet the Unmet Need
Submitted: 30 Oct 2022
By: Jiayi Lyu Grace 742336
Cramarennco Milana 744504 Elena Qian Miao 743016
Submitted to: Professor: Dr. U. N. Umesh
Organize the customer needs and come up with a set of product specifications that could
meet those needs better than current products.
In the first assignment, we pointed out that the current takeout service in Switzerland cannot
meet the needs of customers. Specific performance in three aspects, limited time, limited location
and limited payment methods. Not everyone has time to shop at supermarkets before they close,
not all places have takeaway services, and not all payment methods are accepted.
And our company "Fresh 24 Hours", as the name implies, operates 24 hours, which is a good
solution to the Swiss problem of time limit, whether it is take-out or shop. Fresh 24 Hours
wanted to offer a new option to all Swiss users who were not satisfied with Uber Eats. We will
set up several centers in Switzerland, and these centers will cover a 20 km area until they cover
all the towns in Switzerland. All the delivery personnel will belong to our company's staff, and
they need to receive systematic training before they start work, to minimize the problems of lost
items and wrong delivery addresses. If the goods are still not delivered, customers can contact
the merchants and delivery personnel on the app platform in a timely manner, and then the
company will compensate or make up the delivery. Online contact with merchants and delivery
personnel will be automatically translated in language. Even though businesses, delivery staff
and customers all speak different languages, they can communicate smoothly. For app system
language, restaurant menu language and map language will be consistent with the user's mobile
phone system language, and can be modified at any time. All payment methods will be accepted,
both online and offline.
Generate Concept(s). This is a brainstorm-type exercise. Come up with at least five ideas
that could meet these unmet needs. These could be physical products, a set of services, or
some combination. Use your imagination.
Refine the concept using ideas in Chapter 5 of your textbook. You do not have to go
through ALL the steps described in the textbook, as that would be too extensive.
After some brainstorming Fresh 24 company decided to include 5 more unmet needs and
services in the company so that the consumer will be even more satisfied. The purpose of Fresh
24 Hours company is to make people’s lives easier so these services will be very useful for them.
To begin with, the first idea with which we came up is to provide warm food vending machines
at bus stations. Our priority is that the consumer can get any time, any day food 24/7. The
customer will be able to buy for himself a warm soup, or delicious pasta with sauce, crapes, etc.
In addition, there will be a sector for cold meals, where you will be able to buy salads,
smoothies, or yogurts. This is for people who are running late for work, do not have time to wait
for our delivery, are just very hungry, and do not want to pay extra for the same quality of salad
in a restaurant.
The second idea was to have a function in the app of a weekly purchase list. It is a service that
will provide an opportunity to do these lists a couple of days in advance and the app will
automatically remember what the customer ordered last time. It is very functional for big
families, so they do not need to order supermarket delivery every two or three days.
Thirdly, we are going to have a drone delivery option. What is more, it will be more sustainable.
But drones are going to deliver just small packages of food. Maximum five to seven kg. It may
be faster during the day since drones are not like cars that sometimes stay in traffic jams.
We would like to provide a loyalty program for the customers. Each of the customers after the
third order will get automatic points and after some time will be able to buy something for free.
It can be food or cookware. These points will start to be credited if the order is more than 20
CHF.
The last service that we came up with is to provide people with everything to grill. This means
that customers are going to be able to rent a grill for a day or two. It is a good possibility for
people that do not want to buy a grill or just do not have enough space to keep it.
The most promising ideas are vending machines with food supply, a function in an app of a
weekly purchase list, and a loyalty program with the accumulation of points.
Describe the final product form. Describe the market for that product by defining who
would buy it and what kinds of products it would pull sales away from. Make sure you
have searched for similar products in similar markets on the internet (so you have to
describe the market as well).
The final form of our product will be an app called “Fresh 24 Hours” where we offer all the
items that can be bought from the supermarket, with home delivery, available 24 hours a day.
People can find our software and download it from mobile phones or any electronic product.
People can buy what they want from the app and place an order, and someone will deliver it to
their door.
The figure below shows the proportion of people who use the food delivery app in Switzerland
by different age groups. It can be seen that almost all age groups in Switzerland use the food
delivery app. 25 to 54 years old is the largest age group.
The main audience of “Fresh 24 Hours” customers is almost all people, and almost most people
will need to use our app. Includes young adults from Gen Z and Millennials, busy office
workers, parents of young children looking for convenience and grocery delivery solutions, and
seniors who are retired at home. They can purchase the products they want on our app in advance
before leaving work, and the products just arrive at home when they get home. In addition, when
people who live alone are sick and do not have the strength to go to the supermarket to buy
products, they can directly buy products on the app, and they can get the products they want
without leaving home. For the elderly with limited mobility, supplies can be easily obtained.
“Fresh 24 Hours” app has facilitated the purchasing method of life for most people.
(Similarweb.com. 2022.)
The picture above shows the top five most downloaded food delivery apps in Switzerland
recently. As you can see from the graph, Too Good To Go is in first place, followed by
McDonald’s, Uber Eats, and Just Eat in third and fourth positions. Burger King is the fifth most
downloaded app. It can be seen that people have been using apps like food delivery. And Uber
Eats has always had a certain position in the market.
(Statista., 2022)
The above picture shows the share of users of each food delivery app in Switzerland. As can be
seen from the chart, the largest share of usage is Just Eat Takeaway.com, which holds 60% of the
market share and has a relatively large competitive advantage. Next is Uber Eats, but it only
accounts for 20% of the market share usage, which is quite a stark contrast to the market share of
Just Eat Takeaway.com. Of the remaining 20%, Smood accounts for 10%, and the rest of the
food delivery app only accounts for 10%.
The biggest competitors for the “Fresh 24 Hours” app are Just Eat Takeaway.com and Uber Eats.
But they do not provide the services that our app provides, like we mentioned in assignment 1,
we are not working with restaurants to deliver food from restaurants to guests. Instead, buy daily
necessities, food, or household items from the supermarket and have them delivered to your
door. And not all restaurants are open 24 hours. Providing different kinds of home delivery
services and 24 hours business hours is the competitive advantage of the “Fresh 24 Hours” app.
References:
Statista. 2022. Online Food Delivery – Switzerland | Market Forecast. [online] Available at:
<https://www.statista.com/outlook/dmo/eservices/online-food-delivery/switzerland#users>
[Accessed 29 October 2022].
Similarweb.com. 2022. Top free apps ranking – most popular apps in Switzerland – similarweb.
[online] Available at: https://www.similarweb.com/apps/top/google/app-index/us/all/top-free/
(Accessed: October 30, 2022).
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