Artichoke final 2013 stanford e245
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Transcript of Artichoke final 2013 stanford e245
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Project Artichoke
Kerem Alper Marc Manara
Jake Miller Mark Wittman
Building a food brand that supports a healthy life style
Total Interviews: 128
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The Dream Team: when four became one
Food Waste
Sustainable
Supply Chain
Healthy
Eating
Food Tech
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Fridgecam – automated home food inventory
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Fridgestagram – crowd-sourced market research
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Rice Paper Rolls – healthy fast-food
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BMC: Week 1
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#1: Fridgecam – Automated home food inventory
• Know what food
you have at home
• Know when your
food is expiring
• Avoid buying
redundant items
• Recommend
recipes and
shopping lists
based on home
food inventory
“Connecting your food experiences at home with your
experience at the store”
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Shopping takes too
much time!
I don’t want to waste
food, but it’s not a
priority.
A camera sounds kinda
interesting. Maybe that
would be useful.
I can’t imagine paying
for something like
that, but it sounds cool.
I want more variety in
my cooking.
I buy things solely based
on what deals are
available
We talked to 30+ consumers
People weren’t crazy
about fridge cameras……but we learned what
does matter to people
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Big ideas from the FridgeCam phase
The best way to learn how to interview people is to
get out and do it…it gets easier
People dislike food waste, but…they care a lot
more about time efficiency, deals, and variety
Do we need hardware? Why build a camera when
we all have them in our phones? No friction!
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#2: Fridgestagram
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BMC - Fridgestagram
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We are dealing with a multi-sided market
Primary research expensive
“Nielsen nickel & dimes you”
Low resolution data`
Planning for groceries
Finding the best deals
Better ethnographic data
Direct connection to user
Creativity
Entertainment
Pains Gain
s
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We tested with an MVP
A classic:
Have some onions?...why not try some bison meatballs?
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Recipe test: 28
Coupon test: 14
+
Fbookads, Adwords, Craigslist posts
We worked hard to test the product
30+
40+
28 users
4 CPGs
3 image recognition experts
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Send us a picture of your fridge/pantry
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Take a survey so we know what you like
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We’ll send you back a recipe
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TRANSACTION DATA
monopoly
anonymous
expensive
not real-time
We learned how CPGs do market research
PRIMARY RESEARCH
expensive
time consuming
low resolution
small data set
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So…there could be something there
VALUE PROPOSITION
Cheaper, higher resolution
primary market research
for CPGs
Findings
Technology feasible
CPGs interested
Value to customer needs work
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But…
What happens when the dog catches the car?
food waste healthy food sell more Oreos?
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So…back to the drawing board
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What did shoppers tell us?
Food shopping is annoying b/c it takes too much time
Many are trying to eat healthy, but don’t have time to
cook … Eating out more
Decision fatigue is a problem for people shopping after
work
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Rice Paper Rolls – Healthy Fast Food Concept
Fresh / Healthy
Delicious
No added sugar
Quick
Fun to eat
Portable
Served with healthy
snack for later
“Fresh, delicious food that doesn’t need to hide behind
a tortilla”
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BMC #3: Rice Paper Rolls fast food concept
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We interviewed a lot of people and ran tests
We interviewed:
Conducted
MVP:Cooked & sold rice paper rolls in Palo
Alto and on campus
Tested “snack after lunch”
End
Customers
Produce
Wholesalers
Food
Distributors
Restaurant
Operators
Food
Entrepreneurs
Industry
Consultants
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Value Chain / Areas for Innovation
Supply Chain
Preparation CookingFinal
Packaging
Selling / Queue Mgmt
Real Estate /
Distribution
Experience
Customer
Acquisition
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1 2 3 4 5
Year
Financing - Friends and Family; Angels; Crowdfunding
Ops: 1st Unit - 1 or 2 locations; Proof of Concept
Financing - Angels; VC
Ops: Multi-Market - Market Expansion; Scalability; Execution Risk
Financing - Private Equity; Corporate Partner
Operations: National Roll-Out
What we learned: Finance and operations timeline
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Where do we go from here?
1 Return to testing / refining the product.
2 Determine Distribution Points
Catering
Drop-off
Brick & Mortar Restaurant
Vending Machines
Pop-up Kitchens
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Our goal is to became a
branded food company that
consumers trust as a partner
in their quest to eat healthy
and sustainably.
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Team Artichoke’s big ideas for the class
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Getting out of the building teaches you something in
and of itself
How to ask better questions
How to be tenacious
How you operate as a
team
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Make sure you want what you’re chasing
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Nothing replaces vision, but these are skills
you can improve with practice