Estimation of the market size for our product.
The way we estimated the size of our market, was by looking at the questionnaire we developed at the start of our process. When looking at the market for “regular bread”, it can be difficult to actually asses the size of this market, since almost everyone in today’s society buys some type of bread(from bakers or mass-produced). Therefore we looked at the percentage of who stated that they would be willing to buy freshly made dough, from either stores or other types of channels. Out of 165 answers, around 45% stated that they were willing to buy dough – this could be an indication of how big the market potential could be. Realistically, this number is way too large of a number. If we look more specifically at the market of a city such as Aarhus, we also found that there was a bigger tendency of the “younger” age group, which also could point towards a more narrow market. People who are busy in their everyday lives, who was still concerned with getting a high quality of bread, was also a way for us to narrow it a bit more down. The city of Aarhus has many students, and actually a “young” kind of demographic, which could point towards a potentially large market in a city such as this. We, therefore, estimate the size of a market for this type of service to be around 25.000-30.000 potential customers.
Competitor map
Direct competitors: One of the companies we have been looking at and gathering information about is the company called Smartbake (https://smartbake.dk/). This company sells dough as well, and therefore we categorize this company as a direct competitor. Another branch that falls somewhat in the category of direct competitors, is the whole baking industry. Since this branch sells a product which is what we are trying to compete with, in some sense.
IndiIndirect competitors: An indirect competitor could be Nemlig.com. The reason for this is that they have a partnership with Smartbake, and therefore they have some type of interest in smartbake succeeding. Some other indirect competitors could be larger concerns, where stores to buy bread is located (malls, etc). This is because they also have some interest in these physical located stores to generate some type of revenue – so if our company makes their customers move their spendings towards our service, they would lose out on revenue, thereby making them indirect competitors.
Sales process
To create a sales process, we have used the Customer Decision Journey model to define the different stages :
Consider
We imagine that customers would begin to consider Dågh through word of mouth, advertisements, and the website. Customers would also walk by and see the physical store/stores, hence gaining insights in the company and its values.
Evaluate
The customers would evaluate Dågh based on:
– Quality
– Price
– Customization
– Transparency
– Design of store / advertisements / website
– Ratings
– Word of mouth
Here, they would compare the existing services, such as Smartbake or bakeries, with Dågh.
Buy
The customers would buy a dough from our company based on the following values:
– Price
– Packaging
– Transparency
– Information
– Guidance
– Instructions
– City center
These are the points of purchase which the customers values the most in relation to Dågh.
Enjoy, advocate, bond
We want the customers to keep using our service to buy dough. Hence, the following values provides different touch points for ‘holding on’ to customers:
– Website (touch point)
– Transparency
– Time
– Quality bread