並列摘要
ABSTRACT The Market The market has been segmented based on demographics and lifestyle, focusing on individuals who enjoy outdoor activities which could include anything from attending sporting fixtures, to attending cultural or live musical events. We envision that these individuals also purchase most of their meals as opposed to cooking at home. We have considered the market research in defining the target market. These are students and professionals in the 18-37 age group, which mostly consists of millennials. This group is most represented in the survey and has confirmed their receptiveness to the proposed offering. The value proposition on offer is a simply tasty, healthier snack option, which is low in calories, high in fibre, and has no preservatives, artificial colourants or artificial flavouring. I believe the product will enjoy success as comparable products do not offer this. In the context of the night market, the addition of a flavourful & crunchy snack which isn’t fried is unique. To maximise on goodwill, I will start with people I know within the NTU community as the focus for market entry. It is expected that with consistent quality and appropriate marketing the customer base will grow organically through word of mouth and the “network effect”. We recognise the need for aggressive marketing and sales initiatives in converting willingness to buy to actual sales. To stimulate sales, aggressive marketing which will include direct selling and product sampling will be the focus for market entry. The intention is to get as many people as possible to sample the product, and as taste and quality will be of high standard, the belief is that this will assist to grow repeat sales. In all instances marketing initiatives will be informed by consumer behaviour and data analysis. With theories such as hyperbolic discounting and positive framing being explored to maximize the effectiveness of marketing campaigns. Strong branding will also be a key thrust of our market entrance strategy. We will make use of varying stimuli to attract people to our cart. Our carts will pop out at you! We plan to compete on quality (tasty, crunchy, healthy) and convenience, using the flexibility of location as a competitive advantage. The overall strategy to penetrate the market encompasses: Consumer education to create awareness of the quality of the product and benefits of choosing popcorn as a snack option. We will also highlight the various occasions that popcorn can be consumed, to change the perception that it’s just a movie snack. Availability of the product at diverse locations to widen the distribution network and promote product diffusion. Generation of referrals through reward initiatives designed to encourage referrals. Encouraging referrals by our innovators and early adopters will be very useful in achieving critical mass required to reap the benefits of the network effect. There will be strong emphasis on highlighting the benefits of making a healthier snack choice, in addition to describing the product. Mobile Popcorn Business Pop Queen was born from the identified need for readily available freshly made popcorn in locations other than malls and cinemas. This was combined with the need at night markets and other social events, for a crunchy snack which isn’t fried or packaged. As a result of the aforementioned personal experiences, the opportunity has been identified to offer fresh, organic popcorn as a healthier alternative to microwave or packaged store-bought popcorn which are both ridden with excessive amounts of artificial additives, sugar, sodium and preservatives. In our context, fresh is defined as produced on the same day of consumption. The key differentiating factor between Pop Queen and other snacks is the emphasis on health & freshness. The potential success of this business lies in the absence of similar products in the targeted market, with an intended business model that differs from larger establishments operating in Taiwan. The flexibility in location of service and product delivery seeks to capitalise on Taiwan’s vibrant street food culture. This variety in business location will serve as a key competitive advantage in reaching a diverse pool of consumers and promoting brand awareness. The intention is to begin with just two flavours on offer: lightly buttery and hint o’ caramel. These are tried and tested recipes which have been positively received in a similar endeavour in Swaziland, and whilst it can be argued that the tastes in Swaziland may differ, market research conducted amongst residents of Taipei has reflected that these flavours are also aligned to the preferences of potential consumers locally. As the consumer base grows the option for online orders with free delivery will be included in our service offering. New flavour offerings will also be introduced as time progresses. Possibilities include Wasabi, Sweet and Spicy, Seaweed, and mixed herbs. The Finances The start-up costs are mainly funded by personal savings and equity investment by family members. Financial projections are very conservative, over estimating costs and assuming the worst-case scenario with regards to revenue forecasts. We have used ABC Costing to estimate a cost of production that has informed the final unit cost. In pursuit of penetration pricing, the retail price has been considered alongside the price of comparable products including other nibbles at night markets. A higher price point can only be considered once we have successfully penetrated the market, measured in part by the number of online orders received in the first year. In cognisance of the fact that Taipei is prone to precipitation, our revenue estimates have been based on a 5-year average of number of days of precipitation in Taipei per month. We have taken this to be the worst-case scenario. Though in reality this may not be necessary, our calculations for year 1 assume that there will be no sales generated on rainy days for the first six months. It has also been assumed that after six months the delivery service will be used to mitigate the loss of income. Despite all these conservative assumptions, the projections reflect a profitable business with positive prospects of sustainability, provided there is no significant change in the macro environment that significantly increases operational costs. Three – year financial projections reflect positive growth year-on-year. Using a weighted average assuming a 1:1 sales mix for each variety, the break-even point has been estimated at 2057 units which translates to $102, 854 in monthly sales. At current projections of approximately 108 units sold per day, this is achievable provided the business operates for at least 17 days per month.