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Posted: November 1st, 2024
Innovation, Technology and Increased Customer Satisfaction in the Food Industry
Contents
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COMPANY DESCRIPTION AND INDUSTRY ANALYSIS
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ORGANISATIONAL BUSINESS STRUCTURE
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PROCESS DIAGRAM FOR VIRTUAL KITCHEN APPLICATION
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EXECUTIVE SUMMARY
The growing trend for innovation and increased customer satisfaction will always be a need in the food industry. This project has been designed to capture the idea of utilizing technology at its best fit to increase customer satisfaction in terms of their preferred choice or healthy diet. In our everyday lives, we plan of a day’s activity with the aim of creating enough time to accomplish all task but still we struggle to maintain constant control of a vital resource in the life of human which is healthy diet. Due to our daily activities we are faced with the options provided by many food outlets, leaving customers with no opportunity to control their diet or customize their desired meal. This opportunity is what we must serve to customers as our business will utilize mobile and web application as a platform for customers to customize food orders to suit their taste of preference or health status easily. Therefore, providing customers the opportunity to balance their life cycle with their work and health. And by means of health, it includes tasty and healthy food where the customer satisfaction comes in as the key factor. Our application will be introduced to customers as Virtual Kitchen which will create the perception of food customization from an application. As customers are given the opportunity to customize their food, they also get to receive support from our dietician as an addendum. The customers will only need to take a couple of minutes of their time to make their order, which can either be delivered to their house or they have an alternative of walk-in to the restaurant. Virtual Kitchen also comes with many prominent features, some of which listed below are significant to achieve the best Customer Experience.
Features: – Food Customization – Dietitian support – Restaurant reservation with pre-ordered food – Home Delivery – Pre-scheduled food delivery – With research and analysis by several medium, our application is designed to target a market in which, consumers have the requirement of health and time management. Our products are priced precisely by considering every single factor that contribute to maintain the economic stability of both business and consumer end. Our legal approval requirement and Financial plan have been carefully charted out, and so the course of business process will be uninterrupted. Our Time to Market has been scheduled with ample duration allocated for every process in our project plan and thereby, this Business Plan is constructed with maximum precision.
COMPANY DESCRIPTION AND INDUSTRY ANALYSIS
BUSINESS IDEA
Our idea for virtual kitchen originated from the need of increasing the overall food experience for customers. We decided to offer customers the opportunity to explore more food options as we observed a lack in customizable food to suit different taste and health needs, a delivery of good high-quality food and a lack of a subscription-based service like blue-apron business strategy.
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PESTLE ANALYSIS
Pestle analysis has been adopted in the planning course of this business plan to grasp the overall understanding of the Australian food market from a political, economic, social, technological, legal and environmental view.
This analysis would provide deeper understanding for opportunities that can be explored and create awareness for business threats.
POLITICAL
- The Australian Government provides support to assist investor for trading and business
- Good relationship between the Australian Government and countries such as USA and United Kingdom.
- Control of fast food marketing by the Australian government due to health concerns such as childhood obesity.
ECONOMICAL
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- The increase on fuel price as the global oil price increased over 40 percent the past year.
- Energy and gas price hikes as consumers are likely to face a standing offer increase of 9.5 percent in the first quarter of 2018.
- Agriculture a key pillar for Australian economy with prediction of a rise in gross value of farming produce of 17.3%
- Current Australian inflation rate is 1.9% as the Reserve bank of Australia (RBA) has set a target to achieve an inflation rate of 2-3% on average overtime so as not to materially distort economic decisions.
SOCIAL
- Health concerns on unhealthy food
- Australia is well diverse in terms of culture and lifestyle with its population projected to grow 27.2 million by 2026, with net migration expected to contribute 55% of total growth.
- Australia known for its agricultural strength.
TECHNOLOGICAL
- The Australian government encourages research and development by providing direct funding to private companies to invest.
- Australia has great communication technology opportunities with its spending expected to rise to $84.4 billion (According to Gartner)
- Online ordering has experienced an enormous growth especially in this era with technology gaining more awareness.
LEGAL
- A private investor would need to be licensed to operate in the Australian food market.
ENVIRONMENT
- The Australian government is powering forward with plans to deliver reliable and affordable energy system to assist Australia meet its economic and environmental challenges.
- Australia’s effective governance provides safe, business-friendly environment
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For sure! Our writers with advanced degrees dive into any topic—think quantum physics or medieval lit—with deep research and clear, sharp writing. They’ll tailor it to your academic level, ensuring it’s thorough yet easy to follow, no matter how tricky the subject gets.
SWOT ANALYSIS
Swot analysis has also been applied in identifying the possible strengths and weaknesses that is possessed as internal forces of our proposed company. Also, opportunities and threats considered as external forces has been identified to align our business objectives to adapt to the possible changes that might be experienced in the business environment.
INTERNAL ANALYSIS |
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