business plan
Industry Analysis
Competitive Analysis:
I Chief is a unique company that offers service like no other. There are other companies in the market that display similar concepts but not exactly the same operations. The industry for online restaurants services is beginning to expand its market.With creating a user friendly website and a company website we want to make this service as easy as possible to consumers. Those who are not tech savvy can use our phone service as well. We are in the market to offer a convenient food delivery service to our consumers, presenting varieties of their favorite entrees and building our brand.
The Green Gourmet is another competitor that offers more of a health selection for those who are looking to eat healthier, looking to lose weight or may have heath conditions and can only eat certain meals. They offer standard breakfast, lunch and dinner that are prepared by seasonal chiefs. They have a 3 step process that is very user friendly where the customer 1. Chooses the meal 2. Checks out and 3. Delivery. Their goal is to improve quality of life with food services.
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Company |
Strengths |
Weaknesses |
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Let's Eat Home |
-Personal chef and owner prepares homemade meals to customers. -save funding on hiring chiefs -Offers a wide menu range -Comprehensive Services (cater multiple events) -Offer services 7days a week |
- Marketing technique - |
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Green Gourmet |
-Prepares all health meals -Meals are designed by a qualified nutrition coach. -Offer services 7days a week -Has multiple locations -
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-Meals are sent within 24 hours -Come packaged (kept cool in a bag) -Not a very wide menu range |
To increase our market shares we have to add more value to I Chief that other competitors don’t offer and would build our company in this industry. I Chief would make sure that we spot any new trends that surface to stay ahead of our competitors. For example: if there is some type of new technology trend that could be implemented into our company, we could test it and if it’s comparable we can possibly launch it. We can also find ways to increase our customer satisfaction like applying some of our customer’s ideas about food or the services and/or creating a customer satisfaction day or week. The way we market our service is one of the most important factors on increasing our numbers. Researching our target audience and understand their needs and wants will help build I Chief into the top online food services in Illinois.
We also, have some indirect competitors that offer slightly different services, but target the same group of customers with a similar concept of the business. These competitors are: “Grub Hub” and “DoorDash”. Grub Hub is an online and mobile service that offers food delivery from different restaurantsto customers and/or business. They don’t actually produce the product (food) but they offer their delivery services for those restaurants that don’t through an app or online connections. Grub Hub has develop rapidly and now service over 15 different states and still growing. DoorDash also connects customers withlocal restaurants; they offer High-End restaurant deliveries and will deliver with in 1 hour. DoorDash has also expand its brand further than Chicago and they offer their services in places like Denver, Atlanta, Manhattan, Dallas and more.
References
Get to know us. (2015). Retrieved November 8, 2015, from http://about.grubhub.com/about-us/what-is-grubhub/default.aspx
Podell, S. (2015). Personal Chef Service. Retrieved November 8, 2015, from http://letseathome.com/
About US. (2015). Retrieved November 10, 2015, from https://www.doordash.com/
Meal Plans/About US. (2012). Retrieved November 8, 2015, from http://www.thegreengourmetchicago.com/home1