Bullish Graduate

MVP Concept: The Shake Box Initiative

 Aim:   

As an initiative to get a feel for the possible early adoption customers, the main thing I look to do is develop an understanding of how they feel. I look to do this by developing a short survey, assessing some of their customer needs and pains that have to do with my product. I hypothesize that with enough incentive and opportunity offered to perform a 3-5 question survey, this ad can get a lot of attention and be shared amongst users. With the anonymous data collected from the survey, I can gear that towards the sale of a Shake Box to established points of interest, like say a University, a corporate office, or even a supermarket. I look to be clear in precise with the information that I want extracted from the survey, while also giving them some information on my product, and whether they give an overall thumbs up or down towards The Shake Box Initiative.

The Initiative:

To reach for a well marketed, public image, the obvious thing is to try to get the idea of Shake Box known and talked about amongst the social media platforms I intend to use. I want to highlight the image of Shake Box exactly the way it is intended, to be an innovation for all of us to potentially use, enjoy, and be a part of. Being in the developing stages, I want Shake Box to seem like a project, a product of the future. An initiative looking that gather data and provide for itself some fundraising opportunities to move along further and further into development. This would allow the project to gain followers years before a prototype is even built, get some exposure, and allows people to like or comment their thoughts.

The Platform

For this, I am gravitating towards Instagram being my choice for exposure. If I created an account entirely for Shake Box, with a lengthy history of posting and gaining followers, I could take advantage of Instagram’s trending format by displaying a video formatting how Shake Box would work.  On the Instagram trending section, you see some of the most popular videos and reels displayed in front of you, with a few of them being live action and playing without even clicking on it. This means that users can see live video of how something works, just by shifting to their feed section. This would require a lot of time developing an account with enough popularity. However, a shorter way of doing it could just be a sponsored ad the audience sees on their feed and are able to click on. It would mention the completion of a survey, as well as some information on an innovative new product found on the landing page. The information would be given first, about what Shake Box looks to offer and asking for the person’s help in solving a widely known customer pain, and bringing something new to the world. The incentive for this, while nothing that crazy, could be the opportunity to be the first to try Shake Box in developmental and prototype phases. An interesting concept I thought of, would be the chance to win a Shake Box prototype sometime in the future once it is developed. This could be done by entering the user into a raffling system, and randomly selecting  winner that way. I’m still not certain if I look to execute it this way, but I certainly want a survey, and mores ideas on how to get people to complete it are yet to come.

Petal Diagram

To help in the design of my competitive landscape, this Petal Diagram shows some of the leading competitors in all adjacent industries. For the more direct and relevant competitors, I look to collect information on many of the different metrics that these companies use. This will help get an idea of where each company stands within their industry and ultimately where shake box stands.

 

 

Competitor Interviews

One of the interviews I conducted was that of a local food truck owner whom I have some familiarity with. Besides having great Greek/ Mediterranean style foods and a successful customer base from what it seems, they are conveniently located between a high school and a community college. I was able to conduct an in-person interview with Mr. Stratos, a hardworking individual who has operated his Souvlaki truck since 2005. For the sake of his time, I had promised to keep it under 10 minutes, and was able to get about 4 questions in along with some insight.

Q & A:

“How has the location of your business affected the success of your business since the start?” I wanted to use a question like this to start the interview in a way of almost congratulating or giving kudos to him for having a successful business for so many years and mentioning that as so. He responded that the location was an important decision in his career, because it was between this location and a different one. He went as far to say that it determined success over failure for him, because he depends on the business that the schools and neighborhood are able to provide for him.

“Do you feel you have any secondary effects on the daily lives of the students that buy food from you?” While I did take quite a leap on this question, we had gotten into talking about his clientele from the last question, so I felt I was able to get his perspective on how he sees the value of what he does. He says that he feels that he cares for them in a certain way that many other food options might not. Like he is very conscious of the prices of his food to fit within the budget of a typical student. He also finds ways to prepare each meal quicker and more efficiently, to make sure everyone is able to get food, even in the busiest times. I mentioned to him that he does a good job of noting everything that students go through.

“What are some effective ways that you look to satisfy your consumers wants and needs?” Again, another question about his customers that I thought was appropriate with the conversation we were having. He gave an interesting answer that I didn’t expect. He told me that variety is very important when it comes to his truck, since his business would be considered on the smaller side when it comes to size . He believes that having various menu items for various type of customers is a good way to make up for this aspect. Something he likes about this is that you could come to his truck for 5 days out of the week and have something different every time, which I thought was an interesting metric to use.

“What has helped you stand out from your competitors? With this question, I wanted to see if he was comfortable perhaps mentioning which some of his competitors are. Interestingly enough, he tells me that he doesn’t spend a whole lot of time worrying about what they are doing. He noted that there are some restaurants in the strip a block away, but he feels they have become less and less of a threat to him over the years. Since he wanted to answer the question, he said that he tries to prepare very fresh food every time, since a lot of the competitors food is mostly frozen.

I really did like the way that this interview went overall. I would say that there was a lot more confirmation than contradiction from the questions and expectations that I had. Since he’s been there for so long, I expected this to play a big aspect in his understanding of his own consumers. When observing all the different items and combinations his menu has, one could tell that it took a good amount of time to get it right. I started to think that this could be that one thing that my start-up could miss initially. Especially since face to face business seems to help him a lot for understanding his customers, I am going to have to come up with a way to attain this type of consumer understanding.

The second interview that I conducted, was with a GNC district manager that overlooks some of the busiest stores in Queens, including one Jackson Heights which is her busiest. GNC is known for their health supplements and attentive staff. I believe they would pose a threat to m start-up because they are very well known, and whole most supplements take preparation, they do have a ready to drink refrigerator with various protein drinks already made. This was an interview conducted over the phone, where I was able to ask Glenny 3 questions about her stores.

Q & A:

“What do you think contributes to the success of your GNC’s, as appose to maybe other ones or other supplement shops?” Again, I wanted to start out by giving some kudos to her job well done, especially since I’m familiar with her reputation within the GNC managers. She responded in saying that her staff is what she tries to emphasize on, to have them performing at their best the whole time. She explained that she sees them as extension of herself when she not there and moving around from store to store.

“What do you think are common pain points that drive people to GNC in search for supplements?” I wanted to ask this to get an understanding of her customer base, as well as how they cater to each customer’s individual needs. She said very plain and simply, that people simply wanting to be healthier she thinks is the most common theme. She noted that even if she notes that a customer lacks some motivation and doesn’t want to get healthier, they still know that they need to, especially when a loved one or a physician is pushing them to do so.

“In what ways have your customers changed since you first started? Have any parts of the business gotten harder?” The reason that I went to this question, it’s because the conversation took a turn toward things being different in more recent times than when she started. I wanted to understood a little of what she meant by this observation, considering she’s been there for about 20 years. She said that their pro membership service, which works through monthly subscription, used to be way more sought after and profitable, but now it’s hard to even get a couple people a week to sign up. She also said that the need for variety only seems to increase, which actually puts a strain on her inventory rather than a gain, because more products and variations takes a lot more time for their specific processes.

This interview also went well, although something I didn’t want to do was drag it out since I felt she really didn’t have a whole lot more that she wanted to say. The last question I felt was the most helpful because it gives me an idea of all the different diets and needs that people have. With the fitness industry always growing, there are more and more variations and ways of doing things that are meant to suit all sorts of people. The key take away for this interview is the need for variety.

These interviews certainly provided a good pathway for me and my start-up, and also put some things into perspective that maybe wasn’t thinking about before. Since these to interviews went so well, I will most likely try to meet with another expert, and try to touch upon some certain questions that were maybe left out here. These two experts taught me that there is a great customer base in their industries, and the same would apply for what I want to do. I think the real challenge here is trying to make that my strength, in providing for each and every one of my customers, in the most suitable and fitting way possible.

Competitive Analysis Reflection

After taking the time to assess the direct and indirect competitors that Shake Box might face, I still believe that this specific problem-solution idea can have a lot of potential. Even looking at what might be the biggest threat to Shake Box, being Halal carts and food trucks, those options do come with exploitable downsides and are indirect as well. The product Shake Box is looking to offer is a relatively new product in the sense that it’s never been done before for this type of consumer market. I believe that this specific target market, being busy students with little to no nutritious food options, is not really represented the way that it should be. While this competition provides an ease of access and convenience that I look to incorporate with on-campus delivery, the array of options is not vast enough. The most difficult part of competing with these street food vendors would most likely be affordability of the product and the “bang for your buck” aspect that they do very well in. If Shake Box could deliver something that’s even a couple dollars cheaper than your average Halal plate, that provides similar or even better macronutrients, it could play to our advantage tremendously.

Lean Canvas

Designed for: Shake Box Designed by: Jason Castillo Date: 2/20/21 Version:
Lean Canvas
Problem Solution Unique Value Proposition Unfair Advantage Customer Segments
. Proper nutrition in terms of daily value is not prioritized amongst busier lifestyles.

. Getting access to fresh fruits and vegetables is not very feasible in these lifestyles, while the demand for these types of products is on the rise.

 

. Providing a convenient and quick way to make a blended fruit/protein drink with the push of a few buttons.

. The supply can be filled daily with the fresh ingredients that many health conscientious people will crave, and making it a guarantee

. With the drink being made on the spot, guaranteed freshness is always the case.

. Combined with various fresh ingredients and many different types of milks whether it be whole, fat-free, or plant based, there is an extreme emphasis on options. Everything is tailored to the consumers desires or nutritional need

. 2 competitors that I’ve looked at do not focus on any of these aspects, and just have a small selection that stays the same

 

. The ease of access would be second to none, as it could be placed in Universities, Coporate buildings, fitness centers, and strategic locations alike.

 

. Very wide target audience which would increase success

. Anyone looking to improve their health/nutrition

. Those looking for healthy alternatives for snacking/meals

. Great for busy lifestyles that may have little time to eat

. Student athletes are also one of many types of people that would find this useful.

Existing Alternatives Key Metrics High-Level Concept Channels Early Adopters
. People meal prepping on their own or bringing their own shakes

. Healthy restaurants that cater to many different dietary needs

. Food delivery services such as Uber or Doordash

. Purchases per day

. Income per day

. Maintenance costs

. Vending machine for those who

Desire healthy options

 

. Advertising through various platforms

. Getting popular figures in relevant industries to promote the product

. Notices through out the facility (e.g. University) to make consumers aware that there is a shake box within the vicinity

. College students and gym goers

Problem

What exactly is the best option for a nutritionally rich meal or snack  that student can get their hands on in between a busy schedule? The usual vending machines or cafeteria options can have some pretty unhealthy choices with excess fat, sugar, as well as preservatives, implying the farthest thing from fresh. Some options might supply everything except a decent amount of protein, the best option in that aspect might be a muscle milk or a some protein bar but those sacrifice vitamins and minerals. A properly executed protein shake could solve a lot of these problems in an all in one, on the go beverage. The ultimate goal here, is to make it so easily accessible that it can even be attained within the 10-15 minutes that students get in-between classes.

Solution

The solution, although relatively simple in theory, has a pretty demanding execution that needs to be precise in a lot of ways. The shake box with be comprised of various technologically advanced components. Various types of pumps, motors, a high powered blender, and a cleaning system would be just scratching the surface of this innovative design. Not to mention the entire inside refrigerated to the perfect temperature to optimize freshness of ingredients and ice. All topped off with a user friendly touch screen for selection and a cool window so that users could watch the process in amazement.

 

The Business Clock of TikTok

The Business Clock of TikTok

Image result for tiktok

A New Face, and it Sings

No one thing comes into mind when describing the year (2020) that just concluded, as it has certainly left it’s mark in history for many different reasons. Opportunity might not come into a lot of minds when describing a year with high tensions and an infectious disease that kept most inside for months. Assisted with this change in society and the way people simply live, you could say that one app became a refreshing new face in an untapped part of the social media universe.

The last time such a place was tapped, we were given Snapchat, an industry changer that surpasses Twitter in daily users. Right off the bat, part of you wants to say that is is the same thing and that who really cares about yet another way for the youth to send videos back and forth to one another? In some ways, that is true, but just behind the curtain, we could see it is very complex in the way that it differs from say Snapchat or Instagram. Rather, it breaks free from a traditional social profile structure as the app is based more on newer, forever adapting trends that keep this society alive.

Rapid Video Creation

Before really looking into how this Tok Tiks, it’s important to understand that it has taken such a fast road to the top because it’s predecessors like Snap, Instagram, Vine, or Twitter have taken precious time paving that road. Part of what makes that good for Tiktok is that it’s basic and settle similarities is something that everyone is familiar with and could understand quite easily. These similarities make the user comfortable in sensing that they aren’t using anything too bizarre or hard to understand, but they are constantly reminded that this is a smart new culmination of all the things that made the other apps great, and then some.

For examples of this culmination, we look at TikTok’s parents so to speak to get an idea such as Snapchat or even Vine. A valid part of Snapchat’s success in recent years have been it’s filters that are known to become trendy and spark interest for people to use them once they are seen. Since Tiktok’s theme is clearly based around music, their innovative new way of trending filters is through the sound behind the video or voice effects that one could add to make their video more lively. These snippets of sound could be from other viral videos of the past, or from movie or even excerpts of songs. This type of video making could have the power to start a entirely new viral trend if they catch enough following. Once that happens, that specific way of making a video could turn into a challenge, where people encourage each other to doing it as it quickly turns into a hot trend on the app. We saw something very similar in this when Vine was taking the world by storm, as well as the short video length that made Vine fun and spontaneous.

Another example of culmination from features of it’s predecessors, is Tiktok’s way of turning the hashtag into something that Twitter had only hoped to do. The hashtag plays the much needed role of providing the inner platform for whatever trend or repeating format is going viral at the time. This makes the challenges stated before, much easier to culminate as the hashtag could be used to see all the other videos pertaining to that specific challenge. This gives more reason and purpose for the hashtag rather than it being used as a mediocre way of getting exposure through spamming them like in Instagram or Twitter.

New-Age Karaoke

The original parent company Musical.ly, was initially going for an educational app, which is something that soon proved to be unprofitable. The creators Alex Zhu and Luyu Yang had quickly changed course to a less serious and more vibrant app that allowed short lip syncing videos to be the main source of it’s platforms content. This method made much more efficient to get the venture that exposure and momentum that it needed, propelling it to 70 million downloads by 2016. At this point, Douyin was a similar app in China from parent company Byte Dance that thrived from short video content.

It’s merge with Musical.ly 2017 rebranded it as TikTok which is what propelled it even further to being a go-to social platform for all countries alike, establishing more presence in the United States than ever before. Since that time, the app has been downloaded over 2 billion times and has brought so much to the table in the meantime. The key of Tiktok is that it offers a more abundant array of creating content than any other platform to date. Whether it be a new song, or a viral video to take a snippet from, Tiktok is forever adapting to the trends around it and strategically using that to give it’s audience something new to try.

 

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