msanch20
It’s the moment of truth: I have an opportunity to demonstrate why…
It’s the moment of truth: I have an opportunity to demonstrate why my new service is worth funding. I have done the research and know that the funding I seek can be a game changer for the company. It will produce revenue and profitability and, more importantly, strategically set the company apart from its competition.
So I have to have to convince senior management.
I DO HAVE SOME PARTS DONE; SOME OF THEM NEED ANSWERS, AND SOME OF THEM NEED MORE INFO,
IF YOU HAVE ANY NEW INFO, PLEASE CITE IT.
Intro with a value proposition
Chipotle’s unique value proposition is its newly redesigned and more intuitively organized customer loyalty rewards program, Chipotle Rewards Plus. The program’s streamlined user experience provides a strategic advantage in the marketplace by fostering a strong sense of community and customer loyalty while promoting sustainable and responsible food choices.
Competitive advantage: Describe the competitive advantage the company will gain by funding the project.
I must describe how I discovered an opportunity to do something better than my competitors.
I need to Determine how the new product or service shifts the company’s value proposition.
Our service is unlike others because Chipotle rewards customers who get points from the start when they join the program and for all purchases after that. So when customers rack up enough points, they can get free food or merchandise, among other rewards, and most other competitors need to do that. (I need more here)
2. Risks and opportunities: Establish the risks and growth opportunities of the company.
I need to Determine if the service could disrupt the current industry.
I need to Identify the risks associated with developing this new service.
Risks to the business model include potential difficulties in maintaining partnerships with food delivery services and managing the costs associated with developing and administering the rewards program. Competition and changing consumer preferences also pose a threat to the success of the business model. (I think I need more info here)
3. Growth opportunities: Describe the potential growth areas for the company.
I need to Identify the growth opportunities within the company.
I need to Explain how the competitive advantage allows for growth
( I need this section )
4. Distinguish as a new product or innovation: II need to Distinguish the new service as an innovation or improvement on an existing service.
I need to determine if the product or service fits within the company’s capabilities.
Note: a company’s SWOT analysis or 10-K indicates whether the new product or service could be feasible.
By encouraging customers to make better decisions for their health and the environment, the new Chipotle Rewards Plus program contributes to the company’s overarching objective of promoting sustainable and responsible eating choices. Also, the program encourages a robust sense of community among Chipotle’s patrons, consistent with the firm’s core principles, which are centered on delivering an excellent experience to the company’s patrons.
The company’s 10K report states that Chipotle is dedicated to maintaining a sustainable business model and responsibly sourcing its ingredients. In 2020, the corporation made strides toward achieving its long-term objective of producing all its food using non-GMO components. It also initiated a regenerative agriculture initiative to promote environmentally responsible agricultural methods (Chipotle, 2021). The newly implemented rewards program is designed to dovetail with these sustainability objectives by motivating customers to choose food selections that are both healthier and more environmentally friendly.
(THIS IS DONE I NEED THE QUESTION BELOW ANSWERED)
2. I need to explain how the new service adds to the portfolio of the company
5. Target segment: I need to describe the targeted segment.
Identify the target customer: Chipotle targets and wins over millennials through a significant online and social media presence rather than relying on traditional media. (I don’t know if I should add more)
Explain your blue ocean strategy. ( I NEED THIS ONE)
Note: The new market is identified here.
6. Speculate sales: Speculate on the projected sales. It is anticipated that the introduction of Chipotle Rewards Plus will increase the corporation’s income. The newly implemented loyalty rewards program aims to improve the consumer’s overall experience, increasing customer loyalty and retention. A study by Bain & Company found that an improvement in customer retention rates of just 5% can lead to an increase in earnings ranging from 25% to 95%. (Fallis, 2022). It is anticipated that an increasing number of customers will participate in the new rewards program due to its simplified and user-friendly character, which can lead to a rise in sales.
Our research leads us to believe that introducing Chipotle Rewards Plus will result in a favorable return on investment (ROI) for the company’s top management and investors. In addition, the program’s enhanced customer retention and sales will be sufficient to offset the costs of putting the program into effect and sustaining it. (THIS IS DONE)
Explain the risks associated with projected sales.
Risks to the business model include potential difficulties in maintaining partnerships with food delivery services and managing the costs associated with developing and administering the rewards program. Competition and changing consumer preferences also pose a threat to the success of the business model. (this needs MORE work).
7. DEI plan: I need to Summarize how the project will include a variety of perspectives to get a better unique value proposition.
I need to determine if the company has a corporate culture built on DEI.
I NEED to discuss how the project’s DEI plan fits into the company’s overall strategic plan.
I NEED THIS SECTION
