Enterprise Proposal for Dairy and Experiences

Enterprise Proposal
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I. Executive Summary
Our company, Dairy and Experiences, is one to offer a range of high-quality dairy products crafted with a commitment to excellence. We understand that everyone has unique tastes and dietary preferences, so we offer a diverse range of flavors and varieties to meet individual needs. In addition to our exceptional products, we go out of our way to create an unforgettable farm experience for our customer base, who are focused on family and loved ones' connections, while Immersing them in the fascinating sights, sounds and aromas as they explore the feeding process of our contented cows, and witness the meticulous craftsmanship that goes into every product we produce. Our goal is to promote a deep understanding of sustainable agriculture and its essential role in our lives. By demonstrating the farm-to-table process, we inspire our customers to make informed choices and embrace the benefits of organic, locally sourced food. This is important for a customer base that values their food's quality and nutritional value and can trust our products and know where they come from. Our portfolio of products and services is innovative and unique in the marketplace. The success of our multi-channel approach relies on understanding the associated costs and investments required for each channel. In addition, we will examine the funnel stages and their implications to guide our customer acquisition efforts. We will maintain an engaging, informative, and visually appealing online presence to capture and retain our customer interest. Finally, in the retention stage, we focus on customer satisfaction, product quality, and ongoing engagement by personalizing communication, loyalty programs, and active social media interactions to nurture customer relationships and encourage repeat purchases.
II. Business Model Canvas Sections
A. Customers
Target Market
Based on our validation efforts, we have identified that our target customer segment primarily consists of the millennial generation. They are enthusiastic about exploring new and unique experiences. According to market research data, millennials make up 56% of campers (CAMPING INDUSTRY STATISTICS & TRENDS, 2021-2022). As the largest generation in the workforce, millennials have a significant impact on the economy and possess the autonomy to make their own purchasing decisions and pursue personalized products. Additionally, some millennials receive support from their parents, allowing them the financial capability to pursue what they desire. In this context, millennial customers are more willing to invest a higher amount for trying out new and exciting ventures.
Based on our survey findings, our target market can be divided into three categories: health-conscious individuals, outdoor enthusiasts, and families who value a fulfilling lifestyle. Our primary target audience consists of individuals who prioritize a healthy lifestyle and seek natural and organic food options(Figure 4). They place significant importance on nutritional value, food safety, and sustainability, and are willing to invest in products that align with their values. Since 2014, there has been a sharp increase in interest in this type of vacation(Figure 1). Our second target market comprises outdoor enthusiasts, particularly young individuals, who demonstrate a growing interest in outdoor activities(Figure 5). We are committed to offering products and services that combine farm experiences with outdoor activities to meet their expectations. Lastly, our final major target audience consists of families who value a fulfilling lifestyle(Figure 6). They prioritize shared experiences and actively engage in activities that promote family bonding. We provide them with high-quality food and unforgettable experiences on our organic farms.
TAM
To estimate our Total Addressable Market (TAM), we can use population data for the city of Ottawa. In 2021, the population of the city was 1,017,449 (Census of Population, 2021).
1 Health-conscious individuals
Among these individuals, we estimate that health-conscious individuals make up 15% of our target area's population, giving us a TAM of approximately 152,617 potential customers.
2 Outdoor enthusiasts
Among these individuals, we estimate that outdoor enthusiasts make up 10% of our target area's population, giving us a TAM of approximately 101,745 potential customers.
3 Families who value a fulfilling lifestyle
Among these individuals, we estimate that families who value a fulfilling lifestyle make up 20% of our target area's population, giving us a TAM of approximately 203,490 potential customers.
SAM
Our serviceable addressable market (SAM) will depend on several factors, including the success of our marketing and distribution plan, the accessibility of resources, and the level of competition in the market.
1 Health-conscious individuals
We anticipate being able to capture 50% of the target market, resulting in a Serviceable Addressable Market (SAM) that represents 7.5% of the Total Addressable Market (TAM), or around 11,446 potential customers.
2 Outdoor enthusiasts
We anticipate being able to capture 40% of the target market, resulting in a Serviceable Addressable Market (SAM) that represents 4% of the Total Addressable Market (TAM), or around 4,070 potential customers.
3 Families who value a fulfilling lifestyle
We anticipate being able to capture 60% of the target market, resulting in a Serviceable Addressable Market (SAM) that represents 12% of the Total Addressable Market (TAM), or around 24,419 potential customers.
Price points
1 Prices for dairy products:
* 1 liter of organic milk: 6.99 CAD
* 250 grams of organic yogurt: 2.99 CAD
* 500 grams of organic butter: 4.99 CAD
* 12 organic eggs: 3.49 CAD
2 Prices for fruit and vegetable picking:
* Price per pound of organic strawberries: 3.99 CAD
* Price per pound of organic blueberries: 4.99 CAD
* Price per pound of organic tomatoes: 2.99 CAD
3 Prices for farm tours and experiences:
* Admission ticket: Free
* Farm experience activities (e.g., feeding animals, potato digging): 5.99 CAD per activity
4 Camping prices:
* Tent camping per night: 25.99 CAD
* RV camping per night: 35.99 CAD
Competitive analysis
There is a growing demand for high-quality organic products in the dairy and farm experience industry. Our milk company aims to fill this market gap by offering locally sourced, high-quality organic milk and dairy products. In addition, we offer a farm experience where customers can visit our dairy farms, witness the milk production process and participate in farm activities. This immersive experience allows them to connect with the source of their food and build trust and loyalty. On the other hand, many people are seeking camping experiences that are both comfortable and adventurous. Our company offers camping packages that cater to these needs, offering both tent and RV camping options. We strive to provide an unforgettable camping experience by providing facilities and services that enhance the enjoyment of the entire outdoor adventure.
Here are main competitors:
1. Blackburn Hamlet Dairy Farm: As a local farm, Blackburn Hamlet Dairy Farm produces and sells fresh milk and other dairy products for which they may have an existing customer base.
By combining a dairy with a farm experience, we differentiate ourselves from traditional dairies and farms. This unique integration allows us to offer a comprehensive experience that combines high-quality organic dairy products with immersive farm activities. In contrast, competitors may focus only on milk production or offer farm tours without integrating dairy products.
2. Ottawa Farmers' Market: This is a market that focuses on the display and sale of local produce and dairy products. Some local farmers may be directly involved in the market, offering organic milk and other dairy products.
With an emphasis on sourcing from local organic farms and offering certified organic dairy products, we position ourselves as a brand that meets the demand for sustainable and high quality food. This sets us apart from competitors who may not prioritize organic sourcing or take a more traditional approach to their products.
3. Orleans Fruit Farm: This farm is usually open for strawberry picking during strawberry season and offers a similar experience.
Farm experiences, such as greenhouse fruit picking and farm tours, provide unique opportunities for customer engagement and entertainment. This experiential nature sets us apart from competitors who offer only standard farm picking without farm tours and educational experiences.
4. Airbnb: There are several campgrounds and outdoor resorts in the area around Ottawa that offer a similar camping experience. These locations typically have camping sites, facilities and activities that attract outdoor enthusiasts and families to camp.
We have a more diverse target audience than traditional camping. Our target customers include health-conscious individuals, outdoor enthusiasts and families, allowing us to tailor our products and experiences to their specific needs and preferences.
B. Value Proposition
Our company is proud to offer a range of high-quality dairy products crafted with a commitment to excellence. Our customers can indulge in the delicious taste of fresh organic milk, creamy yogurt, delightful butter, exquisite cheese and convenient powdered milk. Every product we offer comes directly from local organic farms that prioritize a rigorous quality testing and certification process. This ensures that our customers receive only the freshest and best dairy products. We understand that everyone has unique tastes and dietary preferences, so we offer a diverse range of flavors and varieties to meet individual needs.
In addition to our exceptional products, we go out of our way to create an unforgettable farm experience for our customer base, who are focused on family and loved ones' connections. We invite them into the fascinating world of our dairy farms, where they can embark on a fascinating journey of discovery. Immerse them in the fascinating sights, sounds and aromas as they explore the feeding process of our contented cows, and witness the meticulous craftsmanship that goes into every product we produce.
But it doesn't stop there. Our Farm Experience offers more than just a glimpse into our operations. It provides an opportunity to actively participate in the agricultural process. From greenhouse fruit picking to immersive camping adventures, we invite customers to roll up their sleeves and get involved in hands-on farm activities. Experience the joy of harvesting your fresh fruits and vegetables or on a delightful camping trip surrounded by the beauty of nature. For young people who love adventure, our experience is the best choice.
Our value proposition goes beyond providing high-quality dairy products and an immersive farm experience. Our goal is to promote a deep understanding of sustainable agriculture and its essential role in our lives. By demonstrating the farm-to-table process, we inspire our customers to make informed choices and embrace the benefits of organic, locally sourced food. This is important for a customer base that values their food's quality and nutritional value and can trust our products and know where they come from.
Our product and service range is innovative and unique in the market. We are more than just a dairy. Our business offers farm experiences. Provided to consumers is a holistic value proposition that caters to their needs for food quality, safety, and nutrition, along with entertainment, education, and socialization.
C. Channels and Relationships
Channel Economics
This enterprise shall use a multi-channel approach to reach its customers. Our multi-channel strategy's success depends on knowing the expenses and expenditures needed for each channel. A multi-channel approach reaches and interacts with multiple clients through various marketing and distribution channels (Abrudan et al., 2020). Hossain et al. (2019) suggest that the multi-channel approach is the best choice in the current period since a company can adapt to the existing and evolving technologies. The website's and social media's initial funding will go into web building, hosting, content creation, and management. Online stores like Amazon also charge marketplace fees, shipping, packing, and platform-specific marketing costs. Product placement fees, packaging charges, and other promotional activities will be involved in working with brick-and-mortar retailers and farmer's markets.
Funnel and Implications
The enterprise shall consider the funnel stages and their ramifications to direct our efforts to acquire customers. A funnel is a visual image that symbolizes each customer's stage in an enterprise (Cai & Lo, 2020). Through internet marketing initiatives, social media presence, word-of-mouth, and in-store displays, potential customers become familiar with our brand during the awareness stage. Foremost, the enterprise shall establish collaborations with physical retailers to boost brand visibility and invest specific resources for digital marketing are necessary to build brand awareness (Ho et al., 2020). In addition, interested customers will visit our website or social media pages throughout the consideration stage to learn more about our offerings and farm life. Thirdly, the business will maintain an interesting educational, aesthetically pleasing online presence to pique and hold our customers' interest. Customers shall make purchases using our website, online marketplaces, or physical stores during conversion. Therefore, the enterprise shall offer a flawless shopping process with user-friendly internet interfaces and appealing product packaging. Finally, in the retention stage, the enterprise concentrate on client happiness, product excellence, and continuous engagement through individualized communication, loyalty programs, and active social media involvement to foster client connections and promote returning customers.
Figure 1: Enterprise Funnel 107977025032504328740843200109922527886001361872279184CollaborationCollaboration1429965269443166343084293ConsiderationConsideration1887166180921Education and online presenceEducation and online presence1682885155512120630209455RetentionRetention19455331115970021498139369600
D. Key Activities
The success and expansion of our organization depend on the following core activities, and each one necessitates a unique set of skills and resources for efficient management. The following categories best describe the main business activities of our company. The first is product development, which entails studying, planning, and producing premium organic milk and dairy goods. Product development entails changing a product from an idea to reaching its target market (Granato et al., 2020). Assuring product safety and quality, creating new product varieties and flavours, conducting routine product testing and improvement, and procuring organic ingredients are all part of product development operations in a dairy farm (Owusu-Kwarteng et al., 2020). Operations at the farm and customer service make up the second activity. Farm management activities include caring for the cows, feeding and milking them, maintaining their health and well-being, managing farm facilities and infrastructure, and implementing sustainable farming practices (Biswas et al., 2019). Providing excellent customer service is also essential for customer satisfaction and retention (Ali et al., 2021). Excellent customer practices involve responding to customer inquiries and feedback, handling customer complaints, providing product information and support, and ensuring timely and accurate order fulfilment.
The third activity is ensuring a smooth and efficient supply chain. This step involves establishing relationships with local organic farms for milk sourcing, managing supplier partnerships for other necessary ingredients and packaging materials, coordinating logistics for transportation and distribution, and maintaining traceability and quality control throughout the supply chain (Sundram et al., 2020). The fourth action will involve conducting various marketing and sales initiatives to attract and keep clients. These marketing duties include developing plans, making promotional materials, running online and offline marketing channels, researching the target market, setting prices, and managing client relationships (Chandy et al., 2021). Lastly, the enterprise shall promote financial management practices like forecasting, tracking spending and revenues, managing cash flow, financial reporting, and assuring compliance with legal and ethical requirements.
E. Partners and Resources
Key Partners
Delivering our value proposition depends on the cooperation and backing of influential partners. These collaborators will help by supplying materials, knowledge, and value-added services (Mohd Satar et al., 2019). The key players, their functions, the nature of our interaction with them, and the resources needed for our business operations will all be covered in this section.
The enterprise will first collaborate with organic farms to continuously get fresh organic milk, the main component of our dairy products. The enterprise shall create long-term relationships with neighbourhood organic farms that uphold exacting quality standards (Anshari et al., 2019). As they contribute to the general quality and functionality of goods and services, suppliers are crucial in giving firms access to other essential resources, including packaging materials, ingredients for flavour variations, and agricultural operation equipment (Birner et al., 2021). Thirdly, partners are retailers and distributors who assist us in reaching our target market by promoting and selling our goods via various channels. Distributors and retailers help us get a wider audience and make sure that our products are accessible to customers in a variety of settings (Yadavalli et al., 2019). The enterprise may access customers' current networks and consumer base by working with distributors and retailers.
The en...