You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
My name is Melanie Root and I am getting my bachelor’s degree at the University of Florida in Business Administration. I have a wide range of skills from expertise in Microsoft Office to knowing how to fix electronics. I love learning new things. Regarding my business concept, I see this business playing a huge role in my life. Some people don’t like to venture out to new things, but I do.
What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
I am offering a way to keep customer’s food and beverages cold for days. I have a product that is the size of a lunch box but acts like a fridge. This will allow customers to have their food and beverages stored at a certain temperature all day whether they are inside or outside.
Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
I am offering my product to any customers who are out all day (inside or outside) that don’t have access to a fridge. These customers include people who work and bring lunches/snacks, children or young adults who go to school all day and bring lunches/snacks, and people who go out for the day or multiple days and bring lunches/snacks.
Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
My customers care about my product because my product helps them keep their food and beverages cold for as long as they need. They do not have to worry about their ice melting or ice packs getting warm. My product allows my customers to know their food won’t go bad and get them very sick. My product also allows my customer’s beverages to stay cold allowing them to stay hydrated and cooled off during hot summer days and/or when there are air conditioning problems in a building that they are in.
What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
There are companies that sell lunchboxes. There are companies that sell mini fridges. There are no companies that combines the two. There is no portable mini fridge that is light enough to be able to carry and even be able to be moved around without being plugged in to an electrical socket. There is no lunchbox that has a built-in refrigerator in it. My product took these problems and found a solution. This product is small, light, and easy to carry and allows continual refrigeration on food and beverages without needing to be plugged in for power.
In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.
I believe that all these 5 elements fit together. I have a skill with electronics. I know how to fix electronics and make them function properly. Sometimes, I even make them better than how they were before.
My product has a good customer base that would be willing to try the product. My customers care about my product because it protects their food and beverages all throughout the day and/or multiple days. My product is something new to the market combining two high demand products into one.
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