Existing Market: I got a lot of great feedback from this round of interviews. It seems that after the initial business has been established I should expand out to states with a greater population of muslims and people with dietary restrictions. I was also told to expand out the recipe library and acquire rare and lesser known dishes. This would make the product more appealing different people and differentiate the business from the competition. Another possible course of action would be to open up a digital grocery store but I find this idea kind of far fetched and very much for the future.
New Market: My service targets the customer directly with no middle man at all. For the new market I decided to see if restaurants would be interested in receiving a modified version of the service. We would supply high quality dietary substitutes and meats. Some restaurant owners were more on board with this idea then others. They would by just enough to meet the needs of the customers in that demographic. However, I still prefer the original market. Supplying ingredients to restaurants adds a layer of complexity and isn't as profitable as dealing directly with consumers.
Hey Mohamed,
ReplyDeleteLike yours, the new market I identified seemed harder to enter and less profitable and, as you do, I prefer the existing market. I found the feedback you received very interesting, in particular the idea of acquiring rare and less known dishes. I think there's potential in expanding this idea out. Doing some more interviews could help you see if it’s worth it or not, also because rare dishes could require rare and more expensive ingredients.