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Presentation On Market Potential of Tag Taste

Tag Taste is an online collaboration platform in India that provides sensory services to new food and beverage entrepreneurs, established F&B companies, investors, and hotel chains. It allows users to get feedback on new products and help decide on food menus. Currently, there are no direct competitors offering the same online sensory platform in India. Tag Taste collaborates with chefs, tasters, culinary students, and farmers to provide its unique tasting services. A situational analysis using Porter's Five Forces and PEST frameworks found the market potential to be high, though threats could emerge from new entrants, substitute products, and changes in the political or economic environment.

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Raja
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349 views10 pages

Presentation On Market Potential of Tag Taste

Tag Taste is an online collaboration platform in India that provides sensory services to new food and beverage entrepreneurs, established F&B companies, investors, and hotel chains. It allows users to get feedback on new products and help decide on food menus. Currently, there are no direct competitors offering the same online sensory platform in India. Tag Taste collaborates with chefs, tasters, culinary students, and farmers to provide its unique tasting services. A situational analysis using Porter's Five Forces and PEST frameworks found the market potential to be high, though threats could emerge from new entrants, substitute products, and changes in the political or economic environment.

Uploaded by

Raja
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Marketing Management:

Case study on Tag Taste


What Business
Tag Taste is in?

Group Members
- Anubhav Mehan (IPMX 12057)
- Himanshu Vora (IPMX 12067)
- Raja Bhaiya Gupta (IPMX 12087)
- Sugata Ranjan Das (IPMX 12097)
- Md. Merajul Hasan (IPMX 12077)
Situation Analysis

5C Framework
- Customer
- Competitor
- Company
- Collaborators
- Context
Customer
- New Entrepreneurs in Food & Beverage.

- Established F&B Companies:


Going to launch a new product in the market.

- Investors investing in F&B companies

- Hotel Chains:
Indecisive about variety and type of food in their Food Menu.

- Restaurants, bars, cafes or other food points:


Not delivering taste as value of customers from a particular region or unable to decide on
their food menu.
Competitor

- No imminent threat.

- Threat: Big brand (if sensory local market seen as a big offering)

- Current players in sensory market:


• Keya Flavours (Indian company): Keya privilege: Collaboration platform for business
partners (food professionals) and customers. No social media platform.
• McCormick & Company: Consumer testing program. AI to pair flavour & generate
recipes.
• Market research firms in food tasting. No online presence in form of an online platform.
(Eg. MMR, Tastemakers etc.)
Company
Evaluation of Tag Taste
• Long Term Attractiveness of the Market

Business Method : Porter’s Five Forces


- Industry Competition:
• Tag taste pioneer in the area
• Unique online collaboration platform in India
• No imminent segment -No rival with exactly same product offering in India

- Potential Entrants:
• Threat of new entrants from existing e- food chains : easy to copy the business
model-
• Technology barrier is low
• Big Food chains share and connect with similar stakeholders eg suppliers (farmers),
hoteliers, restaurateurs, F&B companies, consumers, purchase managers.
- Threat of Substitute Product:
• Core competency (Sensory Services): Necessary Human Involvement-Scope for
Human Substitution with Technology

- Buyers Bargaining power :


• Threat from buyers is not imminent
• MNC/ Large Food Chains in long run makes buyers realise their bargaining power

- Suppliers Bargaining Power:


• Beta version expired in Feb’19
• Tag Taste visibility likely to enhance
• Product and Services suppliers to become more demanding
Collaborators
- Chefs
A Network of Chefs provides a unique value proposition to TagTaste

- Tasters
Tasters and Super Tasters provide deep tasting expertise

- Culinary School Students.


Young People with the right knowledge and strong sensory skills

- Farmers.
Farmers with Regular/Special produce cater to unique Customer Needs
Context
Using PEST, let’s delve into this.

- Political:
Current policies have improved ease of doing businesses. Potential change of
government might affect the same.

- Economic:
Market may dampen if stable government is not formed.

- Social:
Increase in share of Urbanite lifestyle is in favor of the business.

- Technological:
Companies like IBM are in competition with their innovative products
Thank You!

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