Overview
Tasked with developing a disruptive innovation business idea within the travel and hospitality sector, BuonApp was born. Derived from the Italian word buon appetito and the utilization of an app platform, BuonApp seeks to be the dining option of the sharing economy.
The idea capitalizes on travelers’ urge for authentic cultural and culinary experiences and their need for affordability. Focusing on a lower market segment, BuonApp allows those travelers to eat in local homes as they travel worldwide. Through easy online hosting and booking, hosts can list their home meals and connect with guests seeking their offering.
Key Activities
Background & Details: Explain the concept and how it came about.
Unique Value Proposition: Share what makes BuonApp unique for consumers.
Create Branding & Mockups: Decide on the look and feel of the brand, including color palette, logo, and website/app mock-ups.
Complete Market Research: Research any related markets that could affect BuonApp and list key data and findings.
Research the Regulatory Environment: Determine food safety parameters in prospective countries and use this to help guide expansion.
Complete Competitor Segmentation: Analyze key competitors and segment their offerings to discover market gaps.
Determine Revenue Streams: Develop the base revenue model and potential new revenue streams for the future.
Project Startup Costs: Research the necessary start-up activities and how much they may cost.
Detail the Expansion of Offerings: Understand what offerings BuonApp should look to incorporate to take over market share and move upmarket.
Examine Core Competencies: Detail how key business components will work seamlessly together.
Determine the Competitive Advantage Opportunity: Research and determine how BuonApp can create advantages amongst market competition.
Outline Key Success Factors: What are the key business operations and considerationxs imperative for success?
Complete Customer Segmentation: Determine the potential market segments and select the most promising one to target with marketing efforts.
Choose the market/s to Target: Based on research and projected market position, decide on the target segment for customers and business partners.
Decide How to Position BuonApp: Based on competitor research and segmentation, determine where to position BuonApp in the market to ensure success.
Identify Current Gaps in the Market: According to research, where are the gaps in the market, and how can BuonApp fill them with its positioning?
Identify Future Opportunity: Which market gaps can BuonApp look to fill in the future, and how can it do so?