Do the peer critique of attached file named Chen zhao
the attached file named idea pitch critique is the sample.
Do the peer critique of attached file named Chen zhao the attached file named idea pitch critique is the sample.
Pitch of a Business Idea Introduction – Business Idea The traditional way of eating is to cook at home, go to a restaurant or order takeout. Today’s young people in many cities are increasingly dependent on takeout or convenience food, which will lead to many health problems. According to research, “Eating fast food can have irreversible effects. These risks include obesity, insulin resistance, type 2 diabetes, and various cardiovascular diseases.” (Cavka et al., 2016). In addition, according to statistics, “On average, Canadian households spend more than a quarter (26.9%) of their food budget on meals and snacks purchased from restaurants” (Polsky & Garriguet, 2021). This eating habit will make more and more young people in the future. People lose a life skill – cooking. And make people ignore the importance of having dinner at home with family. The Homecook app breaks with tradition and gives people a new option: Hire a professional chef to cook at home. The Homecook app is a platform that recommends nearby chefs based on their location. It allows chefs to connect directly with consumers, which undoubtedly provides new solutions for catering. Homecook App helps you find chefs of different styles, such as Chinese food, Japanese food, Korean food, Western food, etc. Users can collect or share recipes of various cuisines on the platform. In some important festivals, users can also customize services through private to create a perfect queue. The home cook service teaches you cooking skills and saves you time. Buying ingredients, cleaning the kitchen, and cooking food, all can be done through the Homecook app service. The most important point is that you can not only enjoy the service, but you can also earn money by providing the service. The platform helps people who love cooking solve the difficult problems of income generation and employment. The consumer needs The target group of the Homecook App is young people who live in Canada and do not know how to cook. For example, international students studying in Canada, young people living alone who do not have time to cook, and small families without housewives. According to the data survey, as of last year, ” Canada hosts nearly 622,000 international students” (El-Assal, 2022). “The number of people living alone in Canada more than doubled, from 1.7 million in 1981 to 4 million in 2016” (Galbraith et al., 2019). “Nearly 60% of 18- to 25-year-olds are unable to cook five simple dishes while away from home.” (Rayner, J. 2011). Therefore, the Homecook app has a very large target group in Canada. With the continuous improvement of living standards, modern people pay more attention to health issues. Homecook app can bring healthy food to young people. Also according to a study by a psychology professor, “the benefits of buying time for happiness are similar to having more money” (University of British Columbia, 2017). The Homecook app can effectively help people save time and let them enjoy life better. Viability of business The restaurant industry has suffered tremendously in recent years due to the covid-19 outbreak. According to statistics, “Ontario lost more than 110,000 lodging and food service jobs. (Copolino, 2021). Homecook App in this key Moment can help unemployed chefs start a business and make money at zero cost. Canada is a diverse country, where young people with different cultures and backgrounds from all over the world are gathered here. Users can collect or analyze their Traditional cooking methods. It’s a heritage. “Heritage cooking means embracing and highlighting a culture through food. They’re historic, family recipes that have been passed down from generation to generation.”(Cannon, K. 2021). Homecook apps can help these people come to realize the inheritance of food and let more people experience the food and culture of different countries. “78% of Canadians agree that taste is the most important factor when buying food, but they are also trying to eat better with 67% making changes to live healthier.” (CISION, 2021). Homecook App has very low operating costs. It is only necessary to maintain the normal operation of the platform. A large number of food lovers in Canada help companies to obtain profits and generate income. As people’s requirements for food are getting higher and higher, the expenditure on food is also increasing. This innovative business concept will attract more investors. Homecook app is a platform with rich functions. In the early stage, it focused on providing chef services. As the number of customers grows, the platform can focus on the development of by-products, such as selling ingredients or advertising. The company is expected to expand rapidly in Canada in a short period of time Conclusion The restaurant industry is usually high risk, but the Homecook app can provide professional, flexible, and high-quality service. It can attract local young people and provide a new lifestyle for the day. This highly innovative business concept can be successful and attract the attention of investors. And the plan can be easily realized and executed. References: Cannon, K. (2021, January 21). What is heritage cooking? and why is it a 2021 food trend? SheKnows. Retrieved June 2, 2022, from https://www.sheknows.com/food-and-recipes/articles/2392967/heritage-cooking-trend/ Cavka, A., Jukic, I., Ali, M., Goslawski, M., Bian, J.-T., Wang, E., Drenjancevic, I., & Phillips, S. A. (2016, April). Short-term high salt intake reduces brachial artery and microvascular function in the absence of changes in blood pressure. Journal of hypertension. Retrieved April 30, 2022, from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6711169/ Coppolino , A. (2021, June 5). Employees are leaving food service jobs just as things reopen | CBC News. CBCnews. Retrieved April 30, 2022, from https://www.cbc.ca/news/canada/kitchener-waterloo/food-service-jobs-pandemic-reopening-andrew-coppolino-1.6053376 CISION. (2021, February 4). Despite COVID, Canadians are willing to spend more to get more – Premiumization a growing trend says BrandSpark Shopper Study. BrandSpark International. Retrieved June 2, 2022, from https://www.newswire.ca/news-releases/despite-covid-canadians-are-willing-to-spend-more-to-get-more-premiumization-a-growing-trend-says-brandspark-shopper-study-896759528.html Galbraith, N., Truong, J., & Tang, J. (2019, March 6). This study uses the census of population and the 2017 general social survey on family to examine the characteristics of the population living alone in Canada. the demographic, socioeconomic and housing characteristics of persons who live alone are examined, as well as their conjugal history, family relationships, and well-being indicators. Living alone in Canada. Retrieved May 2, 2022, from https://www150.statcan.gc.ca/n1/pub/75-006-x/2019001/article/00003-eng.htm Polsky, J. Y., & Garriguet, D. (2021, August 18). Eating away from home in Canada: Impact on dietary intake. Retrieved June 2, 2022, from https://www150.statcan.gc.ca/n1/pub/82-003-x/2021008/article/00003-eng.htm University of British Columbia. (2017, July 24). Using money to buy time linked to increased happiness. ScienceDaily. Retrieved April 30, 2022, from https://www.sciencedaily.com/releases/2017/07/170724161258.htm Rayner, J. (2011, October 18). Teenage cooks: A minority? The Guardian. Retrieved May 2, 2022, from https://www.theguardian.com/lifeandstyle/wordofmout h/2011/oct/18/teenage-cooks-minority#:~:text=According%20to%20new%20research%20sponsored,to%20cook%20five%20simple%20dishes.
Do the peer critique of attached file named Chen zhao the attached file named idea pitch critique is the sample.
6 March 06, 2022 Peer Critique Score Sheet for the Business Pitch Needs Improvement 1 Average 2 Excellent 3 Rating Construct a succinct statement indicating the product or service and its purpose Presenter’s thoughts were not very well organized, and the pitch was not easy to follow. Presenter’s pitch was organized and not too difficult to follow, but it was not convincing There was a clear message that was memorable, and the presenter was engaging, 2 Identifies the consumer need Presenter did not clearly explain the consumer need Presenter did discuss this but at times it was not entirely clear or believable The consumer need was clear and compelling 2 Statement includes demographic and psychographic information Presenter’s given data were not very accurate Presenter’s given the data in support of statement but was not entirely convincing The statement is clear, and data is easily achievable 1 Indicates the target market(s) The target market was not defined and or too limiting or too general The target market was identified but I am not sure most people would agree with this The target market was identified and clear 2 identifies business viability from social and financial perspective Presenter was not able to identify the social benefits or the financial advantages of the business The social and financial benefits were identified but not supported with evidence The social and financial benefits of the business are very clear and viable 2 Provides convincing evidence of the potential for business growth Presenter did not provide ample evidence of the potential for business growth The presenter did address business growth, but the evidence was not totally convincing There is clear evidence that business growth is likely 2 Demonstrate good organization, including a strong introduction and conclusion There was no memorable statement Overall, the content of the pitch was good, but the delivery needs to be changed to be more memorable The pitch was engaging, well-organized, and easy to follow. 1 TOTAL 12 Observation of a pitch statement Based on the Critique Score Sheet, we assign an overall score of 12. After analyzing the entire pitch, I believe that most of the sections need to be improved. To begin, I believe the presenter’s ideas were disorganized, and the pitch was tough to understand. They are providing the same product in an affordable price “which will be profitable for the company as we are mainly targeting on the kids, teenagers and adults and many people cannot afford brands”. However, they went on to say, “that opening a new business of manufacturing shoes from the recycled materials is not that feasible”. So, the statement is a little difficult to understand. Instead of listing each description in each paragraph, I believe she should properly define the product or service and provide all key details. That is why, in the first point, we assign them a score of two. In the entire pitch, she did not mention any financial figures. The only thing she stated was that ” we sell it at $89.90 but the cost of one shoe including transportation varies from $34 – $40 per shoe, so we do make more than 50% of the profit margin per shoe,” I don’t think someone is going to spend $89.90 on products when they can get a lot of them on same price because majority of the average shoe prices is same in many platforms. we don’t see any financial benefits. Overall, what we believe is they are correct theoretically but when it comes in practically, it becomes hard to convince on their data given based on their revenue. They should provide proper revenue and gross margin information, as well as additional information. She did not provide enough proof of the company’s development potential. They support their future growth potential by become environmentally friendly which is easy to understand but when it comes to company’s future, I don’t even understand the scope of her company’s expansion potential. Yes, they can work on sports products it seems like they have shifted the trend of their target market from age bias to sprots category. Basically, they need to conduct research and find more relevant facts to analyze the market’s potential for growth. Apart from that, I don’t think there was a memorable statement. Because I believe their ideas are disorganized and her pitch is hard to understand. I believe they could make this much better. So that the reader can understand it better. Recommendations I think she should start the pitch with a simple greeting followed by a catchy tagline to grab the interest of the investors. Then continue by describing the scope with comparison from other companies like Nike. Moreover, they need to use the relevant figures and statistics to convince investors in evidence of company’s future. People are also spending a lot of time in stores looking for a certain item. After that describe the solution to the problem and explain clearly how the concept works. Must consider some real-life solutions like how customers may contact your company, such as via an app or a phone call. Then state how you’ll deliver the products to them. Also, Explain the solid plan to generate revenue and target market. And mention the plan to expand. For example, collaborating with shoes companies or partnering with local or big firms to provide additional services to the customers. Activity/Competencies Demonstrated % of Final Grade Content a. Construct a succinct statement indicating the product or service and its purpose 10/15 b. Identifies the consumer need 14/15 c. Statement includes demographic and psychographic information 13/15 d. Indicates the target market(s) 12/15 e. identifies business viability from social and financial perspective f. Provides convincing evidence of the potential for business growth g. Demonstrate good organization, including a strong introduction and conclusion 11/15 10/15 9/20 Total 79/100 Conclusion In conclusion, I have seen a great group work. There are few financial figures which makes it difficult to understand. Theoretically they have explained very well and have seen a good effort for relating the data but when it comes to practically, we need more graphical or some accurate data. Thesis statement is fine but in conclusion, whole thing starts going differently like in whole report they mentioned about the needs as per the age of the shoes. But at the end, they shift their target market to sports market which we seem like the biggest flaw of the report.