Concept Demo

Summative Presentation

Farmer’s Fridge

Nandana Nair K S Pushpak Nandy

Akhil Nair

Kusuma Panguluri

TEAM 3: VendO

Farmer’s Fridge Growth Strategy

Considering the company functional resources and weighing it against the capabilities FF holds such as access to airports, universities and select partners in retail and fast food chains, we can project their growth ineach horizon with the following strategies.

Horizon 1

Expand the Smart Fridge coverage across

airports, universities, hospitals, etc and provide more varieties

as per dietary preferences.

Horizon 2

Partner with 3rd party marketing consultants to target penetration of the warm and healthy food market, with sharper focus on convenience to customers.

Horizon 3

Increase presence of the delivery service in new locations and include in- flight orders. Expand their menu by enabling customers to customize their food.

Horizons Placement of Product Concepts

VendO

UHeat

SweeTooth

AllFoodCustomized

FinestFingerFoods

Initial Product Roadmap

Key Growth Initiative

Venturing into the Warm Healthy Food Market especially aimed at air- travellers will require some amount of time and capital but will result in substantial profits in the future.

We recommend our team’s lead new product concept VendO -Warm Healthy Food On The Goas the way the company can grow on this front.

By partnering with influencers and use of social media to increase awareness, we can differentiate VendO as the go-to product for warm healthy foods, as well as strengthen FF’s core business to expand the customer base of Smart Fridges.

Ecosystem Analysis

and Insights

Ecosystem Map

Ecosystem Analysis

Fast, Affordable and Healthy Food

➔

➔ ➔

Preliminary ecosystem analysis reveals that speed is paramount for customers. They do not want to spend a lot on food.

Customers also value warmth, different cuisines and healthy food options.

How Does VendO Fit In?

Ability to deliver warm food fast through the FF ecosystem.

➔

VendO will give FF the capability to offer warm food faster to its customers.

Leveraging existing partnerships, such as logistics and equipment providers, FF could add VendO packaging to their existing network of vending machines. Since this integration would not need any major investment, prices can be kept competitive.

➔

Integrate VendO to Farmer’s Fridge

Quick and Easy Integration

➔

Integrating VendO to FF, just involves using VendO packaging boxes to offer FF’s current offerings and new ones. Scaling this over the entire ecosystem would be fairly straightforward.

Concept ideation, selection and proposition

Ideation and Concept Selection

●

For flyers to get a warm meal on the go has become a hassle.

Farmer’s Fridge can tackle this issue by introducing self-heating meal boxes to their vending machines at airports

After conducting a quantitative research through Survey Monkey, the Vendo concept received a clarity score of 89% and likelihood to buy score of 50%

Customer interviews reflected that people would be welcome to this concept of self- heating mealboxeswith ascoreof 6/10.

Concept and Value Proposition

●

For: Travellers

Who are: looking for warm meals catering to different

cuisines and dietary constraints

That: will offer travellers the option to select food

items from a wide range of options. This also ensures

that travellers have access to warm food without any

human interaction

Unlike: Restaurants, cafes, and other existing vending

machines

●

Concept and Value Proposition

Who: provide warm food but additional pain points such as wait time, and cost.

Our Company: caters to a diverse spectrum of tastes and eating habits. We serve warm food with no long queues.

That offers: a quick, convenient and stress-free experience through delectable warm meals.

Scoring Model &

Insights

RICE

Scores

Concepts

VendO

UHeat

Sweetooth Finestfingerfoods AllFoodCustomized

In-flight purchases and deliveries

Customer Relationship Management Implementation.

Web and App Modernization.

Add a Prepaid Wallet

Reach

Impact

Confidence

32.6 24.9 23.1 23.7 15.0

0.5 1 0.25

80% 80% 80% 80% 80%

FF Digital Transformation Projects

14.8

44.3

4.4

0.5

50%

Effort

3 4 1 2 4

Score

17.4 5.0 9.3 9.5 0.8

3.7

14.8

1.1

0.6

From our initial analysis, VendO appears to be the most feasible integration to the FF ecosystem.

Compared to other concepts, VendO has the highest reach as well as the highest impact, this complements FF’s overall long-term strategy.

Even though there is some time involved to integrate VendO meal boxes into FF, the value that this would bring is the highest compared to theotherconcepts.

FF would be able to improve sales and serve a broader audience without changing much to their existing network of vending machines across thecountry.

Interpretations from the RICE Score Analysis

Lead Growth Concept -

VENDO

Concept Demo

Farmer’s Fridge Mission

Make it simple

for everyone to

eat fresh,

healthy meals

whether you’re on the

go or at home.

More than 400

Smart Fridges

all over the

country

designed to make finding fresh &

healthy meals as simple as

vending a candy bar.

Bring in real, whole foods to our kitchen facility, make meals

from scratch

and deliver them to

Fridges and customers.

For people to

enjoy good,

wholesome

food

wherever they may

be.

Optimize

inventory levels at the Fridge to reduce food waste

Any leftover food that we do end up with is composted by hand.

Why Vendo?

Highest return on investment

Introduce a wide range of food choices

Being true to FF’s mission

● ● ●

● ●

No need to replace existing Vending machine Outsourcing package boxes from third party vendors Quick returns

People who want warm meals

People with food allergies / Picky eaters

Similar shelf life as existing FF products (~2 days)

Make it simple for everyone to eat fresh, healthy meals Warm meals at the location and time of your convenience

Marketing Experiment

(Experience Creation using Webflow)

●

Conversion Rate

Average conversion rate for a landing page: 2.5% -5% Good conversion rate for a landing page: >10%

●

Landing Page Traffic

Page views Session duration

●

Target Audience

Traffic Source

Time frame

Marketing Experiment

(Experience Creation using Webflow)

We believe that our landing page

experiment with at least 5,000 visitors selected from our target

audience by running targeted ads, results in 10% visitors signing up within 30 days

Market Test: The viability of product will be tested
Pricing Test: Test to determine the best pricing
Variety Test: Test to identify customers’ preferences
Experience Test: Test to measure customer satisfaction and level of interaction

Test cards

Market Test

Price Test

Variety Test

Experience Test

Learning Agenda

With these tests, we are planning to validate the feasibility of our concept and to verify our assumptions on customer preferences, market and demand.

This is also an attempt to create clarity on our

product direction and set a fair benchmark

based on the study insights.

Thank You!