Venture Value Proposition Report: Fresh Ingredients Business Plan

This report presents a venture value proposition for a new business venture called "Fresh Ingredients", a meal-kit service. The report begins with an introduction highlighting the problem of customers spending too much time and money on individual ingredients. The venture aims to provide customers with pre-packaged ingredients for meals, catering to the needs of busy individuals and families. The mission and vision statements emphasize the importance of fresh, healthy, and environmentally conscious practices. The business plan outlines the unique features, such as subscription-free access and diverse meal options, targeting the Australian market. The report identifies customer needs and issues in the current market, such as lack of fresh ingredients, limited choices, and high prices. The target market segment is identified as individuals aged 20-50, including working professionals and students. The report also defines the characteristics of potential early adopters and provides recommendations for improving the business model, including sustainability and efficient delivery systems. The report concludes by providing a list of references.

Running Head: Venture Value Preposition
Venture Value Preposition of New Ingredient
Name of the Student:
Name of the University:
Author’s Note

1VENTURE VALUE PROPOSITION
Table of Contents
Introduction................................................................................................................................2
Venture value proposition......................................................................................................2
Mission statement...................................................................................................................2
Vision statement.....................................................................................................................3
Business ideas and opportunity..............................................................................................3
Customers needs and issues...................................................................................................4
Target market segment...........................................................................................................4
Characteristics of potential early adopters.............................................................................5
Recommendation....................................................................................................................6
References..................................................................................................................................7

2VENTURE VALUE PROPOSITION
Introduction
The following business venture value proposition is based on a new business which
facilitates the idea of serving the customers with ingredients that comprise of meal-kit. The
aim of the venture proposition is to eradicate the problem of the customer in spending huge
amounts in collection of single ingredients one at a time and make it cost effective so that it
becomes reasonable for them to purchase (Covin et al, 2015). The business model canvas will
cater an opportunity to create the business idea and highlight the problems faced by the
customers due to shortage of supply. Hence the objective of the venture is to please the
audience or target market with the service and product the company would offer and build up
a positive relationship between the customer and products offered (Muzellec, Ronteau and
Lambkin 2015). The point of intersection between the products will highlight the gain
creators in the market nada los the pain relievers with specification of certain reasons behind
the customer impulse in buying behaviour.
Venture value proposition
The concept of building a new business will make the customers to pick a particular
category of products offered in our website or store which will provide a unique combination
of products and service (Baldassarre et al, 2017). On the other hand the main aim is to serve
the customer and remove the issues and cater towards their needs. Hence the business model
will facilitate to identify the pros and cons of the new start up venture so that the entrepreneur
can have an idea and explore the idea. The aim of this venture is to cater the audience with
the prepared ingredients for the meal they would like to prepare for breakfast, lunch or
dinner. These are easy readymade packaged ingredients which are also available in bulk meal
preparation in case of any occasion or celebration purposes (Cosenz and Noto 2018). The
company will operate in Melbourne and Perth and will cater the audience of the regions and
later develop its scale to reach out to the entire continent of Australia. The future plans of this
company “Fresh Ingredients” will deliver the packed carton of fresh ingredients that is
needed to prepare meal and deliver it to the door step which might be easy for the customers
to cook. The company will also provide with a recipe sample which will assist the customers
to prepare their meals.

3VENTURE VALUE PROPOSITION
Mission statement
The company is aiming to each and every household of Australia and bring in each
category of meals from different nationality that might serve the audience with an option of
choosing over their kind of meal. The mission statement of “Fresh Ingredients” is to provide
fresh and healthy food with the objective of keeping its products hygiene and maintaining the
packaging system keeping in mind the environmental constraints.
Vision statement
The vision statement of “Fresh Ingredients” is to provide the target market with the
opportunity to enjoy wholesome and homemade meals with no addition of preservatives and
additional charges over delivery.
Business ideas and opportunity
With the mission and vision statement of “Fresh Ingredients” the online based
company will serve the customer all across Australia and later in various parts of US and
Europe (Spieth and Schneider 2016). The view of the company is to encourage the customer
with healthy, hygienic, low cost products and provide an easy and sufficient meal as per the
members present in the house. The most unique feature of the brand is:
 Firstly it is subscription free because most of the rival firms have the system of first
subscribing and then the facility can be used but this can be accessed by just signing
in through Google account.
 The pricing strategy for “Fresh Ingredients” is strategized according to the target
market because there are student also who has less income compared to the rest of the
audience. There are all sorts and category of meals and vegan that are kept as option
(Budi, Bhayangkara and Fadah 2016).
 The service is available through either laptop or phone or any other online media
where the customers can access through the website advertised in social Medias.
 The quality of the meal and the indigents are kept reliable, providing selection of the
recipe spanning the dietary and taste requirement (Ahmed and Rahman 2015).
 The company is also catering the agenda of not wasting food and reduce the scale by
preparing the food later or by giving away to the one who need in recycled packages
attached with the delivery ingredient kit.

4VENTURE VALUE PROPOSITION
 The website enables the customer to select or browse the menu and the latest addition
in the ingredient kit and manage account setting and payments. The “Fresh
Ingredients” short list the delivery in the same locality and assorts the person to
deliver the product as soon as possible within 3 to 4 hours of placing the order.
 Lastly the company will also look after the customer query with the delivery service
or payments and assist the customers in planning their meals if they are health
conscious.
Customers needs and issues
The need of “Fresh Ingredients” is required in the market in spite of the rival firms is
because people are not getting fresh food products which are not organic and does not contain
preservative (Hussain and Ali 2015). All the retail store which sells packed meat whether
pork, beef or chicken contains chemical elements for storage purposes and are kept in store
for days. Hence people are neglecting these days to purchase meat or fish or any other kind of
ingredients because either they are of poor quality or there is lack of stock. The other
problems recognised in the competitive market faced by the customers are:
 The customers are short of their choices while visiting the store and have minimum
stock while making a purchase. Sometime most of the products are high priced
because of limited stock and it becomes difficult for the customers to make a
purchase.
 The other issue which is recognised with the customers is the problem of travelling or
the distance issue. The retail store or the grocery store is not in nearby location and
hence they need to travel by car in order to make their purchase.
 The next issue which is recognised within the store is that occasionally there are sales
offered in the retail outlets and the products are given at discounted rate. Hence these
are the products or ingredients which are either high priced and are in the store for a
long period of time or have exceeded its expiry date. In order to clear the stock the
store offers a sale period where customers can buy products which are of lower range
but is inappropriate on the other prospective (Rapp et al, 2015).
 The last problem which the customer is facing with the other rival firms is that they
either don’t accept the order online for distance purpose and takes almost two days in
delivering the packed goods. This becomes a havoc situation for them as the
customers have to plan their meal schedule before hand and place order.

5VENTURE VALUE PROPOSITION
Target market segment
The target market of “Fresh Ingredients” is to cater the audience who are generally
between the age group of 20 to 50 years of age. These customers can enjoy a busy schedule
and most of the customers are women who are working. Either it is student who can order
their meal package while travelling back home or the women who are in their workplace for
more than twelve hours and easily order them online by transacting online payment and can
receive it within 5 hours of placing the order.
Characteristics of potential early adopters
The early adopters are the customers in the market who are referred to as the
individuals or group of members who uses the new product which comprise of innovation
and different from the rest of the competitive market (Mohamed et al, 2016). This company
is relied on the early adopters in order to gather feedback from the customers and improve
their area of negligence and or any matter regarding product deficiency (Hardman, Shiu and
Steinberger-Wilckens 2016). The characteristics of “Fresh Ingredients” early adopters are:
 The first feature of the early adopter is to choose its most favourable product in the
list of recipe mentioned in the website.

6VENTURE VALUE PROPOSITION
 The second attribute is that the sector is independent and can accept the invitation of
the other firms that can invest in the company at its early stage.
 Lastly it must motivate as much as the growth potential is concerned.
Recommendation
Hence it can be recommended that the new business venture must propose towards
making the business cycle more efficient and efficient so that it can enlarge its scale of
production in other countries. Secondly the “Fresh Ingredients” must also adopt the nature of
sustainability program and reach out to the people who are in need and cannot afford to buy
food products or kits. Lastly the company should aim to improve the delivery system and
partner with the delivery company or local operators like Masser Potato Farms, To-Jo
Mushroom, Love Beets and many more in order to make the delivery system more quick.

7VENTURE VALUE PROPOSITION
References
Ahmed, S. and Rahman, M., 2015. The effects of marketing mix on consumer satisfaction: A
literature review from Islamic perspective. Turkish Journal of Islamic Economics, 2(1),
pp.17-30.
Baldassarre, B., Calabretta, G., Bocken, N.M.P. and Jaskiewicz, T., 2017. Bridging
sustainable business model innovation and user-driven innovation: A process for sustainable
value proposition design. Journal of Cleaner Production, 147, pp.175-186.
Budi, I., Bhayangkara, W.D. and Fadah, I., 2016. Identification of Problems and Strategies of
the Home-Based Industry in Jember Regency. Agriculture and agricultural science
procedia, 9, pp.363-370.
Cosenz, F. and Noto, G., 2018. A dynamic business modelling approach to design and
experiment new business venture strategies. Long Range Planning, 51(1), pp.127-140.
Covin, J.G., Garrett Jr, R.P., Kuratko, D.F. and Shepherd, D.A., 2015. Value proposition
evolution and the performance of internal corporate ventures. Journal of Business
Venturing, 30(5), pp.749-774.
Hardman, S., Shiu, E. and Steinberger-Wilckens, R., 2016. Comparing high-end and low-end
early adopters of battery electric vehicles. Transportation Research Part A: Policy and
Practice, 88, pp.40-57.
Hussain, R. and Ali, M., 2015. Effect of store atmosphere on consumer purchase
intention. International Journal of Marketing Studies, 7(2).
Mohamed, M., Higgins, C., Ferguson, M. and Kanaroglou, P., 2016. Identifying and
characterizing potential electric vehicle adopters in Canada: A two-stage modelling
approach. Transport Policy, 52, pp.100-112.
Muzellec, L., Ronteau, S. and Lambkin, M., 2015. Two-sided Internet platforms: A business
model lifecycle perspective. Industrial Marketing Management, 45, pp.139-150.
Rapp, A., Baker, T.L., Bachrach, D.G., Ogilvie, J. and Beitelspacher, L.S., 2015. Perceived
customer showrooming behavior and the effect on retail salesperson self-efficacy and
performance. Journal of Retailing, 91(2), pp.358-369.

8VENTURE VALUE PROPOSITION
Spieth, P. and Schneider, S., 2016. Business model innovativeness: designing a formative
measure for business model innovation. Journal of business Economics, 86(6), pp.671-696.