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Fundamental Startup Assignment Copy

Aman Badgujar's startup idea focuses on a milk dairy business, highlighting strengths in supply chain understanding and management skills, while facing challenges like lack of experience and competition. The document outlines market research areas, idea generation techniques, evaluation criteria, and the importance of validation and refinement in the business model. It also discusses the impact of technological advances, market dynamics, economic factors, regulatory changes, social shifts, and competitive forces on the startup's strategy.

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IRX GAMING
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5 views

Fundamental Startup Assignment Copy

Aman Badgujar's startup idea focuses on a milk dairy business, highlighting strengths in supply chain understanding and management skills, while facing challenges like lack of experience and competition. The document outlines market research areas, idea generation techniques, evaluation criteria, and the importance of validation and refinement in the business model. It also discusses the impact of technological advances, market dynamics, economic factors, regulatory changes, social shifts, and competitive forces on the startup's strategy.

Uploaded by

IRX GAMING
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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NAME:Aman Badgujar

CLASS:F.Y.BCOM.

ROLL NO:7.

SUBJECT: FUNDAMENTAL STARTUP

STARTUP IDEA:MILK DAIRY BUSINESS

1. SELF ASSESSMENT

Strengths:

 Understanding of the dairy supply chain.


 Passion for sustainable agriculture and animal husbandry.
 Strong management or organizational skills.

Weaknesses:

 Lack of experience in dairy operations.


 Limited access to capital and technology.

Opportunities:

 Growing demand for organic and farm-fresh milk.


 Potential to collaborate with local farmers and suppliers.

Threats:

 High competition from established dairy brands.


 Potential regulatory challenges in dairy farming and distribution.

2. Market Research

Key Areas to Research:

 Customer Needs: Demand for fresh, organic, or A2 milk, milk-


based products like yogurt, cheese, etc.
 Competitors: Analyze local and national dairy companies,
including organic and niche suppliers.
 Suppliers: Identify milk sources (small farmers, cooperatives)
and establish quality control measures.
 Pricing: Study the price range of dairy products and margins in
the supply chain.
 Distribution Channels: Study both direct-to-consumer models
and retail partnerships.
3. Idea Generation Techniques
 Brainstorming: Gather a team of experts to ideate. Focus on
unique offerings like organic milk delivery subscriptions, eco-
friendly packaging, or an app that tracks freshness.
 SWOT Analysis: Assess the strengths and weaknesses of each
idea.
 Customer Feedback: Conduct surveys or focus groups to
understand pain points in the current dairy market.
 Mind Mapping: Create a visual representation of different
business models (e.g., subscription-based vs retail)
 Reverse Engineering: Study successful dairy businesses and
analyze what made them profitable.

4. Idea Evaluation

Criteria for Evaluation:

 Feasibility: Can you implement this idea with the resources


available?
 Profitability: Will this idea be financially sustainable?
 Scalability: Can the business model be expanded over time?
 Impact: Will it positively impact customers, farmers, and the
environment?

Example: You may evaluate ideas such as:

 Fresh Milk Subscription: Direct delivery to consumers.


 Milk Products: Production of high-margin items like butter,
cheese, or flavored milk.
 Hybrid Dairy Café: A café selling fresh dairy products, where
customers can also buy milk and milk-based products.

5. Validation
 MVP (Minimum Viable Product): Create a small-scale pilot,
such as delivering fresh milk to a limited group of customers in
one area.
 Customer Feedback: Collect feedback from early customers
regarding the quality, price, and delivery service.
 Data-Driven Insights: Analyze sales, customer retention, and
operational costs to understand viability.
 Market Testing: Partner with a few local stores or online
platforms to test your product in different environments.

6. Refinement
 Based on feedback, refine your operations. For example, improve
packaging, streamline delivery routes, or introduce additional
product lines like flavored milk or milk-based snacks.
 Refine your pricing model to ensure profitability while
maintaining competitiveness.
 Optimize technology to track milk quality, manage inventory,
and communicate with customers.

#Six Forces of Change and Their Impact on Your Milk Dairy


Startup

1.Technological Advances:

 Automation: Use technology to automate milking, packaging,


and quality control processes.
 Digital Platforms: Launch an app or website for direct orders,
subscription services, and delivery tracking.
 Data Analytics: Track customer preferences and optimize
supply chains through data analysis.

2.Market Dynamics:
 Demand Fluctuations: Monitor market trends like demand for
plant-based alternatives or organic milk.
 Customer Preferences: Rising interest in health-conscious,
sustainable products could drive demand for fresh, organic milk.
 Brand Loyalty: Focus on building trust through transparency
and high-quality standards.

3.Economic Factors:

 Costs of Raw Materials: Track fluctuating feed and livestock


prices, which can impact profitability.
 Consumer Spending: In an economic downturn, consumers
may shift to cheaper milk alternatives, so consider price
sensitivity.
 Supply Chain Stability: Ensure steady access to farmers and
reliable distribution.

4.Regulatory and Legal Changes:


 Food Safety Standards: Adhere to evolving food safety
regulations and ensure that milk is processed and handled
hygienically.
 Environmental Regulations: Keep up with environmental laws
regarding waste management and emissions from livestock.
 Packaging Laws: Follow rules about eco-friendly packaging to
reduce plastic use and comply with sustainability

5.Social and Cultural Shifts:

 Sustainability and Ethics: Consumers are becoming more


conscious about animal welfare and environmental sustainability.
 Health Trends: As people focus on healthy eating, there’s a
shift toward organic and chemical-free milk.
 Urbanization: Urban consumers are willing to pay more for
fresh milk delivered to their homes.

6.Competitive Forces:

 Local Dairy Brands: Competitors with established supply


chains and customer bases may pose challenges.
 Alternative Products: Plant-based milk brands are gaining
popularity, so your dairy should emphasize quality, freshness, or
organic certification to differentiate.
 Price Wars: Compete on quality and value rather than engaging
in price wars with major dairy companies.

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