Growing Ontario’s economy with local consumer options

1.What is the product?

  • What problem(s) is this product trying to solve?
  • Who can benefit from the use of this product? How? Customer segment?
  • Where will this product be distributed?
  • Are there similar products in the market? (List out the local produced berries vs imported market share)

 

Product service offering/Competitive Premise, Capabilities Theory, Pestle/product Service Offering

  • Figuring out the target market, and if there is a general need for it
  • Getting a general idea of both internal and external barriers for the development of this product

 

  1. How will this product create value in general?
  • What problems will it solve? Reduce import berries, increase GDP (less imports – better for economic growth), reduce cost of production, reduce transportation cost, increase freshness etc…
  • Who will want to use it? How?
  • Where and how often will it be used? Instead of the original season, now we can get it all year long, 24-7 …
  • Is this a unique product?
  • Does it address consumer needs? Fresher products, support local (something like Foodland Ontario) etc…
  • How do we measure the success of this product? The import vs local produced ratio, number of job created, how much did the berry get cheaper vs imported, monetary value contributed to industry and GDP, quality difference etc…

PEST(+LE)/SWOT Analysis, Value Chain Analysis, Stakeholder Theory

-How the political, environment, social, technological, legal and economic conditions may affect this product in the future

  1. Does this product have a market? (market value evaluation) -Josh
  • Who will pay for the product?
  • Will they be able to afford it?
  • How much would they be willing to pay for it?
  • Are there any substitute products on the market? (Other fruits such as apple and orange, comparatively berries are more expensive and are more elastic to the macroeconomics condition… or artificial juice? Can food? etc…)

Porter’s 5 Forces/Competitive Premise Theory/ PEST(+LE)

  • Evaluating the market of this product (monopoly, barriers to entry, etc.)

 

  1. Is there a business case in favour of this product? (business evaluation)
  • Are there any new businesses that can make money from this product?
  • How can existing distributors profit from the product
  • What are pro forma projections for future profit for these various stakeholders?
  • Benefit-Cost analyses for suppliers (Cost of equipment/technology for growing strawberries year round VS cost of importing berries from other countries)

Stakeholder theory/Transactions-Cost Theory/Capabilities Theory/

  • Beginning to look at factors that will affect stakeholders
  • See if there are any parts of the product that can be outsourced – start looking at projections of profit?
  • How our product/business can build & configure their resources to meet threats & opportunities in the external environment

 

  1. Opportunity valuation (estimate of the monetary value)

 

  • How will these costs be reflected on consumers?
  • Do the costs outweigh the benefits? Or vice versa?
  • The monetary contribution towards GDP (industry and job creation)

Value chain theory/ SO and WO strategies under TOWS matrix/PESTLE/ Stakeholder theory

How will this product create opportunities for various players in the value chain

 

  1. Stakeholder assessment, partnership, and network development
  • How is this beneficial to consumers, farmers, grocers and distributors?
  • How to advertise people to consume locally grown strawberries?
  • Ontario Berry Growers Association?
  • How will government regulate added competition?

Value Chain Analysis/Stakeholder theory/ Capabilities Theory

How will this product create opportunities for various players in the value chain

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