There are many forces that allow this to occur but the main one is the availability of fast food. It's so easy nowadays to stop by a drive thru for dinner for many reasons, one being it's convenient and another being it doesn't break the bank account. People don't realize how bad it is for you until a couple years later they have added a couple pounds and the doctors are telling them it's time to shape up or they'll regret it in years to come. It seems so simple in the moment but in the long run it hurts people.
This market is scattered geographically in the United States there are people everywhere who are overweight and unhealthy. In other countries they have less people who are overweight and I simply believe it's because in most of those countries their fast food is healthier and they walk many places, whereas in most parts of the US you drive. Demographically I would say it is more towards older generations who are overweight, you have some children who are as well but for the most past its people in their late 20's and up.
The customers are satisfying their need now by going to the gym. I think the app is better because it gives you workouts as well as meals plans. When they're done with their workout they have a meal that is healthy for them so they know they'll lose weight and feel better. Also I think the atmosphere of working out and meal prepping with other people helps people a lot.
I think this opportunity is huge because more and more people are hopping on the health train. In this day and age people want to exercise and be healthy but a lot of them don't know where to start or how to get to their goals so with the app it will point them in the right direction easily.
I think the window of opportunity will be open forever. There will always be people who are unhappy with their health and their body so as long as you keep the app updated I believe it will work for a while. If you move with the times people will always find a reason to stay with the app.
I think the only reason customer would switch is because they find a better way for them to get healthy and workout. With the app we will always be innovating to keep it up to date so unless someone finds it too expensive or it doesn't work with their schedule they will have an incentive to stay.
The competitors are the gyms in the area's where the customer lives. Gym's will have an advantage when it comes to equipment because they have everything in one place, but most if not all of the exercises you can do at home with no machine necessary. I think we will lose some of our customers to gym but it just depends on the person and what they're looking for.
I think packaging, price points, and distribution are an important part of the business concept. If we do all of these correct the customer will have no choice but to love our company. I think the price will be a big point, if we can find a price range that will fit everybody's needs but isn't too expensive we will be in good shape.
I would organize my business like any other business. I would first start out with only a couple employees but obviously as we grow I would want to expand. I think I have an upper hand in this business because I know so many people across the US that would help me expand this business. Marketing is a huge part of this app because it's all online so we need to have a strong marketing department to get the app going and to keep it going.
Individuals will buy my product if they are looking to get in shape and start eating healthy. Businesses will buy my product if they are looking to spice up their gym, they will add our app to their price point and the customer can use the gym and app for a low price, and of course they get the meal plans with that deal. I would love the app to grow into new things as well as workouts and meal prepping, I want to change peoples lives with this app and I have a feeling with some new and initiative ideas I can do just that!
Hello Jayice,
ReplyDeleteOne big suggestion I have is to use headings so that the reader can distinguish when you are talking about the opportunity, innovation, and venture sections of the assignment. I enjoyed reading your post, but am a little confused on the correlation between fast food restaurants and older generations. I feel like there is a stronger connection between college students and fast food restaurants because of the budget they are working with. In my post, I did my best to describe the age range of people who would find value in my innovation but also included why it would directly benefit female college students. Your target market of ‘overweight people’ may be a little broad. I liked how you included detail on why gyms are your main competitors. I agree with this section of the post. Overall, you did a great job but just make sure to organize the post with headers to make sure you get full credit!
Hello Jaycie,
ReplyDeleteYou mention that your app is targeted to older generations (late 20's and up). I think you can consider the maximum age of your potential customers. In the first two paragraphs, you mention the meal plan service and tie it to the problem of adults over-relying on fast food. However, I know your app also has a workout plan which should be mentioned at the beginning and also tied it to adults not getting enough exercise or something along the lines.
Hi Jaycie,
ReplyDeleteI agree that many people are overweight due to the availability of fast food. There is also large convience food sections in most grocery stores nowadays where you can buy pre-packaged meals. While these are generally healthier than fast food, they can still be loaded with additives such as added sugar and also preservatives to keep it fresh. This is why you service would help people live healthier lifestyles.
Hello Jaycie,
ReplyDeleteI enjoyed reading your post and found it very interesting. I like how your app would be new and innovative because it would combine eating healthy and working out. I think a lot of apps do one or the other but not necessarily both. I also like the idea connecting your app with an actual gym. I think that would be a great tool for people to be accountable. Additionally, if your price point does not match with your consumers I think you could actually sell the app entirely to a gym chain. This way you could be guaranteed profits without doing the work.
Hey Jaycie,
ReplyDeleteI think that your venture concept turned out quite well. The way you describe the need, and the ways the app will help to fulfill them is very well written. One thing I might add is that the geography section might've included that, as the nature of your venture is an app, it shouldn't be too much of an issue. As long as the app is sold across the United States, you'll be covering the target market. The issue at that point is how to target the market more specifically with marketing and advertising. Great post.
Hey Jaycie,
ReplyDeleteI like that your venture concept includes both personalized workouts and meal plans. A lot of people can work out and see little to no results because they don't realize working out if only half the battle and belittle the importance of their diet. I think that having your app be part of a gym package is an interesting idea. I never thought of it being used that way but this could benefit both your venture and the gym and is actually not a bad idea.