Customer Segments
Hypothesis: Non-celiac
sufferers are willing to pay more for gluten free products.
To test this hypothesis I went out and interviewed 20 people
who were non-celiac sufferers. I asked them questions about if they were
willing to pay more for gluten free products and around what price they were
willing to pay for a gluten free meal.
·
Not willing to pay more.
·
Only would pay more if they were with someone
who was a celiac.
·
Only willing to pay $3 more when compared with a
regular meal.
·
Depends on the location of the diner.
·
Depending on the food selection.
·
If they have heard good things about the diner
(word of mouth).
·
Depending on the quality of food.
·
Depending on the ratings they see online.
·
Health conscious people are willing to pay more.
·
Not worth targeting people who are not celiac.
·
If the restaurant is kid friendly, so that they
can bring their children.
·
If they were more informed about gluten free
products.
·
Depending of the atmosphere of the diner.
After analyzing the date I have come to some different
conclusions. The majority of the people I talked to would only go to a gluten
free restaurant if they had a friend that was a celiac. Also for the most part
they were not willing to pay a lot more for a gluten free meal when compared to
a regular meal. Many of the respondents also made it very clear that the food
would have to taste good and there had to be a good selection or they would not
go back to the diner. I also spoke with a few health conscious people and they
were willing to try out the diner, but they also said that it would have to be
good quality food.
Because of these different conclusions I have some recommendations
for our diner going forward. I recommend that we do not focus on marketing
towards people who are non-celiac. This is because for the most part they would
only go to our diner if they had a friend who was a celiac. We would need to
market to people who are celiac, so that they can convince their friends and
family to go out for a meal with them. Obviously the amount of people who suffer
from celiac disease is smaller then the rest of the population, so we will need
to find a way to get these non-celiac sufferers into our restaurant. A majority
of the people I talked to said they were only willing to pay $3 per meal when
compared to a regular non-gluten free meal. So, we will have to make sure that
our prices are not to high or there is a good chance these people who are
non-celiac will not eat at our diner.
Overall with our BMC I recommend that we keep going in the
same direction with just a few minor changes. We should not focus our marketing
efforts on people who do not suffer from celiac disease, because they are for
the most part only willing to go to our diner if they have a friend or family member
that is a celiac. This does limit our target market, but we need to make sure we
still appeal to people who do not suffer from celiac disease. We need to do
this, so if they do come to our diner they like our prices and quality of our
food. This will ensure that people who are non-celiac will come back to our
diner with their friends/family who suffer from celiac disease.
April 8-14:
This week we as a group focused on our final pitch. We practiced it for most of Monday and Tuesday, so that we made sure we were as ready as possible for it. The pitch went very well and I think the investors really liked our idea and how we presented it to them. We also are going to focus on finishing our final package and making sure our website is as complete as possible. We only have a few things left to do on our website and have a few things to do for our final package.
Next week I will be focused on studying for my finals and preparing for my tests.
April 1-7:
Like I said last week our entire focus this week is on our presentation. We met on Monday to get our presentation together and get a rough outline of our presentation done for Tuesdays dry run. We will be meeting Thursday and again over weekend to rework our presentation with the feedback that we received from the class on Tuesday. Lastly, we will be working towards all getting our parts memorized for the presentation and will be meeting to do some run throughs of our presentation.
Next week our main focus early in the week will be on our presentation. After we are done this we will be working towards using the feedback from the judges to completing our final package. This will take considerable time and we want our blog to be as complete as possible when we hand it in. We need to work hard at figuring out all of our numbers and make sure they are as accurate as possible. The last thing we will be doing for our final package is our final BMC and this will be the BMC that we will use going forward.
March 25-31:
This week we are focused on figuring out exactly what we want to say for our final pitch. We also have questions to ask you in our meeting on Thursday, because we are very confused with many of the sections in the financial statements. We are going to start making our power point presentation and start to get together a rough outline of our presentation. We all need to know the entire presentation, so we want to have it done early enough in order to ensure that all of our group members know the material inside and out. Lastly, we have some more research to do around other restaurants in Calgary and need to look more into their financial statements.
Next week our entire focus will be on our presentation. We have to decide exactly what needs to be said in the 6 minutes that we are given to present. We also need to make sure that we are prepared for the questions that we will be asked by all of the judges. We need to decide exactly what we want to wear for the presentation and decide how many people will be presenting. We will have our presentation done by next weekend and want to book a classroom to do a couple of dry runs in order to make sure the presentation goes as smoothly as possible.
March 18-24:
This week I have been working hard at trying to figure out the numbers for this new financial assignment that we have to do. I am also starting to do my out of class assignment and am looking at customer segments in the BMC and testing if non celiac sufferers will pay more for gluten free food. This will allow us to see if there is a potential market out there for non celiac sufferers and what they are willing to pay for gluten free food. I also have been busy with trying to make our website look as complete as possible, so that there is not a ton of work left at the end.
Next week we will be focusing on coming to our meeting with you with all the questions that we have for you. This is very important to us and we need to come prepared, so that we can have all of our questions answered. After our meeting with you we are going to be starting to put together an outline for our final presentation. This will allow us to ask you any questions if we have any. Also we are going to continue to work on our website and making sure each section is as complete as possible.
March 11-17:
This week our group has focused on the feedback that we received from the advisory board. Many of the people in the advisory board wanted to know exactly how much more our meals were going to cost when compared with normal everyday restaurants. We also have been talking about ideas and points we would like to cover for our final presentation in a few weeks. We still have a lot of time to prepare, but we want to make sure that we do not miss out on talking about anything. Lastly, we are just trying to decide exactly what we want to do for our MVP and exactly how we would like to have it set up. By this I mean should we tell people it is gluten free or should we just see what they think of the muffins. Or should we set up a blind taste test like the Pepsi Challenge.
Next week we will be focusing on our out of class activity to test our MVP. We will need to make sure that we can get the best results possible in order to find out what people think of gluten free food. I will also be reading the slide show presentation on finances to make sure I am ready for the quiz that we have in 2 weeks. Lastly, our group is going to try and figure out more of our finances for our one page project manager and the new spread sheet you have given us about investors. We want to make sure we try all parts of both of these sheets, so that we can come with questions when we meet with you.
March 4-10:
This week our group focused on our video. The video took some time to make, but it was a great learning experience and we are very happy with our end result. I also worked on the one page project manager and found this resource very confusing for the most part. There is a lot going on in this project manager and it is hard to make up dates for activities to be done when you are not actually completing these activities. Lastly, our group talked about our out of class activity and will be working on that for the next couple of weeks.
Next week we will be very focused on the feedback that we get from the advisory board. We are at a point right now where we really like our idea, but are willing to take advice from outside sources in order to make our service as good as it possibly can be. We also have to talk to the Business school about setting up a table for one of our MVP's that we are going to test next week. I think this MVP will be a great tool in letting us know if there is actually a market out their for our service and what peoples perceptions are about gluten free foods.
February 25-March 3:
This week we as a group have worked on getting our material ready for our second advisory board meeting. We first had trouble figuring out what our new MVP was going to be, but feel like this new MVP is crucial for us in order to find out if there is a potential market out there for our service. We also have added some numbers to our cash flow statement, but since none of us are that good with numbers and are not accountants we are struggling in some areas on this statement. We just do not know where to put some numbers and how to fill in the entire statement, so we will have to meet with you before we have to hand in the final statement.
Next week our main focus will be on the video and the production of the video. We have already started on the video this week, but next week we will have to get the rest of it done. We have already came up with the script for our video and what points we want to make about our idea. This will include filming the rest of the video and then getting all of the editing done, which normally takes the most amount of time. Then we will have to decide what we want to say in our presentation in order to make sure that we put our best efforts forward.
February 18-24:
This week I have not done a ton in regards to the project since it is reading week. I finished up the KPI for the assignment and just have been thinking of some more ideas for the video and our idea going forward. I have also been working hard towards trying to figure out how we can decide if we want our diner to be 100% gluten free or not. I have also been thinking about how we are going to test out or menu and how we will find out if people will be turned away from the idea of being 100% gluten free.
Next week I will be focusing on more ideas for our video, because it is due in a few weeks. We will need to get started right away on it, because it takes quite some time to create a video. We will need to figure out what we are filming the video on and exactly what we want to film. We as a group will have to decide if we want our service to be 100% gluten free or if we want to offer some meals that are not gluten free.
February 11-17:
This week we as a group are focused on our assignment that is due on Sunday. After getting the feedback from the advisors we will have to decide if we want to be 100% gluten free or take their advice and offer some meals that are not gluten free. We will be meeting on Thursday and I will be focusing on the KPI for this part of the assignment. I also have been working on ideas for our video for the next advisory board meeting. Lastly, I have been asking people who I know are celiacs and have found out from this limited amount of people that there is definitely a need out there for this type of diner.
Next week I will need to focus on coming up with more ideas for our video. We have all reading break to do this and we as a group want to make sure our video is very well done. When I have free time over reading break I am going to try and brainstorm some more ideas for our venture and just bring these ideas to our first meeting after reading break. I think the break will be a great time for our group to brainstorm more ideas and will also be a good break away from school and everything that is going on.
February 4-10:
This week we as a group have focused on our upcoming advisory board meeting. We met the other day to go over exactly what needed to be done for the meeting. We worked on our values and principles and changed around our MVP in order to ensure it covers more then just our values. We also completed our storyboard and this was a fun activity, because it made us think outside the box. I also have been looking in to the gluten free restaurant industry in Calgary and the more research I do the more I realize how there is a lack of this gluten free option for someone who is a celiac of prefers gluten free food.
Next week I am going to focus on our next assignment. We will meet a few times as a group and this is always better then working individually, because it allows for collaboration of our ideas, which I think is where the best ideas come from. Next week I am also going to start reading the book for this class in order to ensure I am ready for the upcoming quiz. This book will also help me with our group project and possibly spark some ideas and thoughts that I could bring to our next group meeting.
January 28-February 3:
So far our entire group has worked very well together and we all have done our fair share of work. At first I did not know a lot about gluten free products, but now I feel I know a ton more and feel like this is a very great venture opportunity. This week worked on our MVP and our cash flow. I missed one of our meetings due to a prior commitment, but I provided the rationale for the MVP. This has to do with why we are doing each of the tests and what these tests are going to do for us. We currently might be approaching a pivot, but we are unsure as of yet.
Next week I am going to help spruce up our values and principles and am going to help my group decide how we would like to present our story to the advisory board. I also will be helping with our presentation and figuring out exactly what needs to be said in order to get our point across. When I have time next week I am going to look in to the gluten free restaurant industry and just see what the competition has done. Also what the companies that have experienced success have done to experience this success.
No comments:
Post a Comment