Target Customers
The purpose of my professional life is to do something good for society as a whole, something that can benefit an individual/a group by solving at least one of their problems in daily life. Among the daily life problems in recent days, three main problems are the rising health insecurity due to COVID-19, and the busy lifestyle of people hampering proper dietary intake behavior (DeCaprio et al. 2020); (Mechanick et al. 2021). I want to do something that can help people to cope with these problems such as by generating awareness among people about the good sides of having a balanced diet or providing them a way to get good food at home/restaurants. There are three occupations available to me: opening a restaurant, introducing a food delivery app so that people don’t need to get out of their house to get food, and being a nutritionist who would give advice to the people about a balanced diet. In this report, the main focus occupation is the introduction of an online food delivery app providing healthy and home-like meals to people.
This food delivery app business will focus on digital operation, that is, it can be considered e-commerce. The entrepreneur of this business is responsible for collecting financial, physical, and human resources to start the business, to make the final decisions related to the development or the operations of this business after understanding the trends of the market demand, marketing, and promotion-related operations, the business model, building relations with the suppliers and consumers and others. This business will be included in the food industry and the service sector of the economy.
To enter this industry a person should have a profound knowledge of the existing market trends in the knowledge, trends in demand for online food for the last few years, the supply chain management, marketing strategies, consumers psychology, government regulations, and laws related to food businesses. A person should study business studies before starting a business (Maresch et al. 2016, P. 175). It is important to study the sources from which the inputs and raw materials can be bought at the least cost. It would also require high financial investments and thus to attract investments a good business model has to be presented. For these, knowledge about professional communication skills would also be helpful. As this business is based on digital technology extensive research on the currently available technologies and new developments is required to understand the process of effective utilization of the digital platform and technology (Rangaswamy et al. 2020); (Ofe & Sandberg 2019.
The problem of irregular and unbalanced diet and resulting obesity is high in Australia. This food delivery business would not have any physical store or shop but would have an office from which the operations will be conducted. The food delivery service will primarily cover the locality of Sydney, Australia. Sydney is chosen to be the primary area to be served as this is a big city in the New South Wels where most of the people work outside the city and hence, they spend a significant time for commuting purposes. According to a report in 2016, the working population was about 498,384 people of which 15.2% of those employed people used to work within Sydney, and the remaining used to go outside of the city (Id community 2016). COVID 19 has increased the use of these food delivery apps. The market for these food delivery businesses is expected to reach US$2.28 billion by the end of 2022. Up to 2026, the annual growth rate of this market is forecast to be 9.08%. The number of buyers is expected to reach 9.8 million by 2026 (Statista 2022). The combination of increasing work pressure, a busy lifestyle of people and awareness about the benefits of a good diet can be a driving force for increasing demand for homestyle and healthy meals among the working population
Competition
There are an association of restaurants and catering businesses operating that can provide necessary guidance and they have a website full of resources from which the required knowledge about the related industry can be gathered. There are many online food delivery apps in Australia namely Deliveroo, Uber Eats, Happy Cow, Hey You, Menulog, and others. These companies publish an annual report from which important information about the supply chain management and strategic management of such business can be gathered.
I want to introduce a food delivery app that will be focusing on providing fresh and healthy meals to the users. It would not only deliver meals from different reputed restaurants but also will be supplying home-style food to the consumers. For this purpose, a mobile application and a website will be opened through which the company and consumers would be able to reach each other. The main suppliers of this company are restaurants, new businesses who are interested in providing home-style meals through this company’s network, a cloud service company that would provide the tech support required for this business, and workers supplying their labor.
The target customers of this business will be the working young people, students who are living alone in a city, People who are ill and physically unfit for performing daily chores, and older people. The students who live alone in a city and probably work part-time for a living can’t afford to cook healthy meals for themselves and depend on food bought from outside and junk food such as snacks, biscuits, cakes, noodles, and other kinds of processed food. Though these people are highly aware of the bad effects of eating junk foods all-day they are forced to eat those as they don’t have many healthier options. Similarly, the people who are unable to cook for themselves due to their physical incapability are also targeted by this new venture.
There is significant competition among the Australian online food delivery companies. Uber Eats, Menulog, and Dominos are the leading companies in this respect. Not only the online food delivery platforms, but some restaurants that provide online food delivery by themselves (such as Pizza hut) are also competing for expanding their user base (Kunst 2021). This business is unique as it thinks of providing typical home-style food, traditional Australian food as well as traditional food for emigrants from foreign countries, and food that can be customized by the people according to their preferences.
To start with the company would focus on three factors: 1) connect with the key suppliers are the restaurants who are interested in supplying traditional foods of Australia and other continents, 2) recruit chefs who are qualified enough to cook authentic traditional recipes of different countries 3) making digital platforms for the company. For the completion of the above-mentioned issues, I need huge financial resources. Hence, in the first month of a business plan will be produced. This plan will be presented in the second month at a business event on my part to attract investors. The remaining part will be collected by taking loans from the bank.
Market Trends
Alongside huge financial resources, this business needs a unit of skilled workers including managers, marketing strategists, supervisors to manage different departments and different localities, a different unit for customer care services who are efficient in communicating over the phone and emails, and most importantly men and women for delivering the food items to the preferred locations of the customers. For gathering a skilled workforce, the Australian Department of Employment offers financial assistance, incentives, and services that will be helpful for my business (Austrade.gov.au 2022). Social media marketing will be used for the promotional purpose and later on with a collaboration with an influencer the business will be promoted further (Kay, Mulcahy & Parkinson 2020).
Any business venture, no matter how small or large scale it is, requires certain skills from its entrepreneurs. The business venture chosen by me is directly correlated with the digital platform. As the venture is of a food delivery app, I will be needing sound skill in the digital segment of the business. More precisely, in this era of digitalization, the artificial intelligence is gaining popularity and feasibility in the commercial world. Hence, I also will need to install software and create a virtual platform for my business venture. Now, my employees will be mostly handling it, but I, as an employers will also need complete knowledge and grip on the subject so that I can supervise my junior associates and during any problem I along with my team can steadily handle the situation. In other words, to make this venture successful the most needed attribute is digital skill of business operation and marketing.
Like any other individual, I also possess some strengths and weaknesses. In this discussion which relates with my business venture, I would like to point out that my communication and marketing skills will help me in setting up the business on a broad level. However, my limitations in this segment are that I will need more knowledge about the market. Most importantly, the educational knowledge about how differently structured markets operate regarding their pricing and cost strategies so I become able to sustain longer into his market and in long run this business earns revenue points for me and welfare points for the society.
For this section, I gathered information mainly from the internet. I reviewed various journals, Statista, and government websites. All of these sources are authentic and based on real information/ However, the works of those papers are not based in Australia and are not related to this particular industry and hence can be different from the reality.
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SMART Goal 1 Occupation/Business |
Actions to meet goal 1 |
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To gain profound information about the suppliers and find cost-effective ways of resource collection to reduce 30% of operating costs by 6 months and to gain profound information about the user base and raise product conversion rate by 50%. |
I want to observe the business model for the other businesses and their supply chain management strategies to find cost-effective alternatives. I want to conduct several market surveys for gaining information about the requirements of the users through social media poles, distributing google forms among the social media users, and asking consumers to complete the survey on the website if possible. Incorporate the collected information into the operational and promotional activities of this company and regularly observe the changes in product conversion rate and operating costs to understand the effectiveness of the strategies. |
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SMART Goal 2 Industry awareness and network |
Actions to meet goal 2 |
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b. Generate awareness through social media ad campaigns and raise the subscribers, users of our mobile applications, and social media followers by 60% within 12 months (Marzouk 2016) |
After gaining sufficient information about tech user base the ad campaigns will be done through Facebook, Instagram ads, and posts on company profiles, Tiktok challenges simultaneously to spread awareness (Ribeiro et al. 2019). The posts will be shared for these 12 months while the others will be done in a 3 months interval. A famous Australian food vlogger will be contracted to make videos and share our company’s story after the 6th month. Food blogs will be posted on our website on a weekly basis to spread awareness about healthy food for these 12 months. |
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My strength |
My evidence |
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Good professional communicational Skills |
This is demonstrated by the communication style used in this report. |
Reference
Austrade.gov.au, 2022. Understanding government support programs in Australia. [online] Austrade.gov.au. Viewed 30 April 2022, <https://www.austrade.gov.au/international/invest/guide-to-investing/australian-government-support-programs>.
DeCaprio, D., Gartner, J., Burgess, T., Garcia, K., Kothari, S., Sayed, S. & McCall, C.J., 2020. Building a COVID-19 vulnerability index. arXiv preprint arXiv:2003.07347.
Id community, 2016. Workers’ place of residence | City of Sydney | Community profile. [online] Profile.id.com.au. Viewed 30 April 2022, <https://profile.id.com.au/sydney/workers>
Kay, S., Mulcahy, R. & Parkinson, J., 2020. When less is more: the impact of macro and micro social media influencers’ disclosure. Journal of Marketing Management, 36(3-4), pp.248-278.
Maresch, D., Harms, R., Kailer, N. & Wimmer-Wurm, B., 2016. The impact of entrepreneurship education on the entrepreneurial intention of students in science and engineering versus business studies university programs. Technological forecasting and social change, 104, pp.172-179.
Marzouk, W.G., 2016. Usage & effectiveness of social media marketing in Egypt: An organization perspective. Jordan Journal of Business Administration, 12(1), pp.209-238.
Mechanick, J.I., Carbone, S., Dickerson, R.N., Hernandez, B.J., Hurt, R.T., Irving, S.Y., Li, D.Y., McCarthy, M.S., Mogensen, K.M., Gautier, J.B.O. & Patel, J.J., 2021. Clinical nutrition research and the COVID?19 pandemic: a scoping review of the ASPEN COVID?19 task force on nutrition research. Journal of Parenteral and Enteral Nutrition, 45(1), pp.13-31.
Ofe, H. & Sandberg, J., 2019, January. Digital platform establishment: navigating competing concerns in emerging ecosystems. In Proceedings of the 52nd Hawaii International Conference on System Sciences. ISBN: 978-0-9981331-2-6
Rangaswamy, A., Moch, N., Felten, C., van Bruggen, G., Wieringa, J.E. & Wirtz, J., 2020. The role of marketing in digital business platforms. Journal of Interactive Marketing, 51, pp.72-90. Viewed 30 April 2022.
Ribeiro, F.N., Saha, K., Babaei, M., Henrique, L., Messias, J., Benevenuto, F., Goga, O., Gummadi, K.P. & Redmiles, E.M., 2019, January. On microtargeting socially divisive ads: A case study of Russia-linked ad campaigns on Facebook. In Proceedings of the conference on fairness, accountability, and transparency (pp. 140-149). Viewed 30 April 2022.
Statista, 2022. Online Food Delivery – Australia | Statista Market Forecast. [online] Statista. Viewed 30 April 2022, <https://www.statista.com/outlook/dmo/eservices/online-food-delivery/australia>.
Statista, 2022. Online food delivery bookings by brand in Australia 2021 | Statista. [online] Statista. Viewed 30 April 2022, <https://www.statista.com/forecasts/1288383/online-food-delivery-bookings-by-brand-in-australia>.
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