Based on your idea from Group assignment 1, please use the class material on market size and provide a logical support to your business idea potential

a) a description of a business idea and what it solves with novel, valuable and meaningful solution - min 20 words (2 marks)

b) a description of the category and the size of the category in Canada (2 marks)

c) a valid source for the category size in MLA format (2 marks)

d) a reasonable market share for you to gain (2 marks)

e) Assumptions to support the share (2 marks)

Group Assignment which is referring to:

Problem Statement: How might we provide a convenient and personalized grocery shopping experience for busy professionals, such as our persona group "The Busy Bees," that saves them time and effort while offering high-quality products? Persona: "The Busy Bees" Young professionals with demanding careers and busy schedules Limited time for grocery shopping and meal preparation Value convenience, efficiency, and quality products Willing to pay for time-saving and personalized solutions Ideas for Solutions: Personalized Meal Planning Service: Develop a mobile app or website that offers personalized meal plans based on individual preferences, dietary restrictions, and nutritional needs. Provide a variety of pre-planned menus or the option to customize meals. Offer integrated grocery list creation for easy shopping. Grocery Delivery Subscription: Create a subscription-based service that delivers groceries directly to the doorstep on a regular schedule. Offer a curated selection of high-quality products, including organic, local, and specialty items. Provide flexible delivery options and time slots to accommodate busy schedules. In-Store Personal Shoppers: Introduce a service where trained personal shoppers assist busy professionals in selecting and purchasing groceries in-store. Customers can submit their shopping list and preferences in advance, and the personal shopper will gather the items for them. Offer the option for home delivery or pick-up at a designated time. Smart Shopping Assistant: Develop a smart shopping assistant device that uses AI and voice recognition technology. The device can be placed in the kitchen and helps users create shopping lists, suggest recipes based on available ingredients, and provide nutritional information. Connect the device to an online grocery store for seamless ordering and delivery. Virtual Pantry Management: Create a virtual pantry management system accessible through a mobile app or website. Users can input their pantry inventory, and the system will generate personalized recipe suggestions based on available ingredients. Offer the option to add missing items directly to the shopping cart for easy purchase. Premium Grocery Concierge: Establish a premium grocery concierge service catering specifically to busy professionals. Provide personalized shopping assistance, including selecting and purchasing groceries, meal planning, and even meal preparation. Offer exclusive access to high-quality products, specialty items, and discounts. These ideas aim to address the needs of "The Busy Bees" persona group by offering convenient and personalized solutions for their grocery shopping challenges. Each solution has the potential to be monetized by charging for subscriptions, delivery services, premium features, or by partnering with grocery stores and earning commissions.

Explanation:

It is important to further evaluate and refine these ideas based on market research, feasibility studies, and feedback from potential customers. By selecting the most viable solution, we can develop a comprehensive business pitch that demonstrates the value proposition, potential revenue streams, and impact on our target persona group.