I am coming up with a business plan targeting college students. It would be a fo
ID: 359780 • Letter: I
Question
I am coming up with a business plan targeting college students. It would be a food delivery service. Need some help on these questions
Market Research
Describe your target market in terms of age, education level, income, and other demographic variables
The Product or Service
Product Features and Benefits
Describe the features and benefits of your product or service.
Product Differentiation
How will you make your product stand out in the crowd?
Pricing
What pricing strategy will you choose for your product, and why did you choose this strategy?
Sales and Promotion
Advertising
How will you advertise to your target market? Why have you chosen these forms of advertisement?
Promotions
What other methods of promotion will you use, and why?
Place (Distribution) Issues
Where will customers find your product or service? (That is, what distribution channels should you consider?)
Explanation / Answer
Target Market:
Product/Services: This is the main area where I will make a proper segment among these students. Although majorly I am into service segment, but I will be having few my inhouse products to reduce the costs (discussed in latter part). The core business operations will be to deliever food/snacks and related products on time at affordable price to students at their hostels.
Product Differentiation: As mentioned above the core operations will include services, following are the points of product differentiation.
Pricing: Affordable, something which fits in pocket money too. Following are the considerations.
Sales/Promotions: I will be having very simple sales and promotional.promotions. The will not be costlier. Here are few points to begin with.
Distribution: This is going to be final crux, as my whole food business is over online distribution. Hence My business model is over distribution for students for the one who resides in hostel.
In short, overall; my business model will focus on students need for food at affordable cost.
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