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The class presentation recapped their elevator pitch, canvas update, and refining of hypotheses to test. They discussed improving their elevator pitch to focus on promoting healthier agriculture by fulfilling customer cravings for organic goods through delivering organic cupcakes and muffins. Their canvas update was shared through links. The top 10 hypotheses to test were listed in order of importance, covering questions about ideal customer locations and times, profitability of delivery methods, pricing, partnerships, suppliers, target markets, costs, outsourcing, customer values, and potential partnership opportunities.
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- 2. What We did? • Recap Elevator Pitch • Canvas Update • Refining the 10 Key Hypothesis to tested • Why each is important • Updates: Blogs & Other Social Media
- 3. Elevator Pitch MUFFCAKE FACTORY helps FOODIES resolve their CRAVINGS by providing ORGANIC MUFFCAKES which is superior to BAKERIES because we DELIVER AND OPERATE IN ISOLATED AREAS AND VENUES
- 4. Elevator Pitch R&D 1. Why - This is the core belief of the business. It's why the business exists. 2. How - This is how the business fulfills that core belief. 3. What - This is what the company does to fulfill that core belief.
- 5. Elevator Pitch 1. Why - To make a healthy foods (outside the scope of fruits). 2. How - Fulfil our Customers’ Craving for Organic deserts 3. What - Make Delicious Organic Cupcakes & Muffins and Deliver to our Customers
- 6. Elevator Pitch 2.0 MUFFCAKE FACTORY wants to promote healthier agriculture. By supporting organic produce and fulfilling our Customers’ Craving for Organic goods. What we make is Delicious Organic Cupcakes & Muffins and Deliver to our Customers.
- 7. Canvas Update Slideshow: https://canvanizer.com/slideshow/_CgYDaktYus#/10 Link: https://canvanizer.com/canvas/lejc96kH5Uo
- 9. Hypothesis Testing MUFFCAKE FACTORY 10 Key Tests to Run, in order of importance.
- 10. Hypothesis: 1st version: H1: Value proposition: Will isolated areas/times be ideal place/time to sell? H2: Key activities: It is profitable to use a truck? H3: Revenue: What margin do we need to do? What are customer willingness to pay?
- 11. Hypothesis: 1st version: H4: Partners: Would hotels/business be willing to have subscriptions? – (on going clients) H5: Key resources: Which suppliers would be able to work with us? What price? H6: Customers/market segment: If we target only business, what would be our projected market? Large enough? H7: Cost: To rent a truck or to buy it?
- 12. Hypothesis: 1st version: H8: Key Activities? If outsourced drivers, is margin enough to cover costs? H9: Value Proposition: Like “Organic” or “Healthy”? H10: Partners: Nespresso? Natural Drinks? Advertisements?