BUSI 707 Case Study Analysis_ Gourmet to Go Assignment

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Case Study Analysis: Gourmet to Go Assignment Shannon Duncan Doctoral Student School of Business - PhD

What is the major theme, as it pertains to new business development, presented in the case study? The major theme of this case study is understanding the value and importance of marketing activities when introducing a new product to the market. Effective marketing ensures potential customers know about the new product's existence (Hirsch et al., 2020). Without marketing, the product might go unnoticed in a crowded marketplace. Marketing also helps to define the product's unique value proposition and how it differs from competitors. Also, effective marketing can build a strong brand identity, which can be a key differentiator and a source of consumer trust and recognition. Ultimately, a company’s marketing efforts directly impact sales and revenue generation. A well- executed marketing strategy can lead to increased sales and profitability. What are the major risks/returns explored in the case study? Because Gourmet to Go is not yet a proven concept, the major risk lies in the company’s ability to deliver a delicious product. Many variables contribute to that risk, including whether the company can secure fresh produce, deliver the orders on time, and create flavor palettes that entice customers to buy the meals. Additionally, there will be uncertainty about whether there's a demand for the meal prep service. Also, marketing a new product can be costly. There's a risk that your budget might not be sufficient to create the necessary awareness and demand for the product.

What are the key “takeaways” or lessons from the case study? The key takeaway in this case study is that a thorough marketing plan is important, especially when marketing a new product. A well-rounded marketing plan includes a mix of online and offline strategies, such as social media, email marketing, content marketing, SEO, paid advertising, public relations, and more. Thorough market research is the foundation of a successful product launch. Understanding the target audience, their needs, preferences, pain points, and the competitive landscape will help the company educate the market about the new product. Defining the product’s unique value proposition and how it solves a problem or addresses a need better than existing solutions is also vital in market education. What are the Biblical or Christian implications represented in the case study? Luke 21, verse 15 says, “For I will give you a mouth and wisdom, which none of your adversaries will be able to withstand or contradict. (ESV, 2023). This verse is paramount to helping entrepreneurs understand the importance of being knowledgeable about their product or service, especially when telling others about it. Through it, we understand that knowledge gives entrepreneurs an edge over their competition.

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References Hisrich, R., Peters, M., & Shepherd, D. (2020). Entrepreneurship (11th ed.). New York, NY: McGraw Hill Education. ISBN: 9781260043730 English Standard Version Bible . (2023). Bible Gateway. https://biblegateway.com

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