11A – Idea Napkin No.1
1. You. I wear many hats. I am a wife, mother, student, United States Airman, and avid weightlifter. The many hats that I wear contribute to many of my talents and skills. Some of my skills include time management, being self-disciplined, and leadership/followership. If I were to start my business concept, I would want to be actively involved. I have been tracking my food for years now and would like to make the process easier for the food tracking community. I would also like to educate large chain restaurants on the opportunity that exists for them with a scannable menu.
2. What are you offering to customer? Every person is looking to make something easier in their life or save time. The scannable menu is built to cut down the time it takes to track your meals and allows you to be more present with your friends and family while also making it easier to stick to your diet. The menu would create more revenue for chain restaurants because they are making efforts to support a new type of customer.
3. Who are you offering it to? Demographic: In 2017, 43% of people who regularly use food tracking apps are between the ages of 18 and 45. I would like to focus on this demographic because they already know the hassle that can come with eating out and needing to track your food.Also, food chains that are already required by the FDA to provide calories on their menus (any restaurant with over 20 items on their menus). Psychographic: People who find health a priority. People wanting to prevent weight gain or loss. People training for a sport with a strict caloric need.
4. Why do they care? Customers who regularly track their food will find this useful because it cuts down the time and manual work they must do to stay on track. It’s another tool to help them be successful in tracking. It can be used as an upgraded version of MyFitnessPal for $10.
5. Core competencies After researching the information for competitors in this area, there are none. This would be a new concept. Many food tracking apps already offer the ability to scan the barcode of a grocery store item and this happens to be one of the best upgrades in food tracking apps. I would like that same ease to also be available when eating out.
I believe the 5 elements do fit together. The weakest part of the business concept is what costs will be endured by the customer and what costs will be endured by the restaurants. I need to find a way to market the idea to restaurants better. Some cannot understand that healthy, fit people also enjoy eating out and are more likely to go to their restaurant if they are catered to easier.
Hey Danielle!
ReplyDeleteI am truly inspired by your ability to balance all your roles and responsibilities in life. That alone is evidence enough of the all the skills you said you possess. You will definitely find success in whatever venture you pursue because of your skillset. I think you’ve chosen the perfect demographic to target, and you have the research to back it up. Great job on this post!
Hi Danielle,
ReplyDeleteI loved reading about your "you" section and seeing all the 'hats' that you wear and how you balance your daily life. The leadership skill that you possess is important, especially for this idea because it will be the first in the market and you want to be able to advertise it and gain strength and ownership within the market for a scannable restaurant menu. I like how you included the demographics and the psychographics to help be even more specific about your target customers for this product. I see a lot of potential with this product idea!
Hi Danielle! You definitely do wear many hats! You must be extremely organized and dedicated. I like how detailed your demographic is; that will be helpful when really launching your product. I think a lot of people would use this regularly and a lot of places would be eager to get their menu on the app. I agree with you that the price is the biggest weakness, but I do think the price is low enough that people really dedicated to eating well would not mind paying.
ReplyDeleteDanielle.
ReplyDeleteI thought you did a great job at identifying each of these aspects for creating your ideal customer. I think the mix of your creativity and organization skills will come in handy when creating an application. I think you've identified your target demographic which will help when it's time for advertising and making your product as specific as possible to fulfil their need. Have you planned out how the application will appear to the customer when they open it?