Business Strategy
Business Environment
The market as it stands now is mostly saturated by both supplement and product service system businesses. This presents a challenge in that customers have an elevated standard of value and furthermore supplement consumers have their pick of many options. However, in both fields there are a plethora of low-quality offerings. Our objective is to leverage this lack of quality services and products by providing education, guidance, and a safe purchasing environment for our customers.
Market Positioning
VitDaily is intended to be positioned as a helping hand for supplement consumers of all demographics. We intend to be the centerpoint of our customers’ supplement experience. We intend to cater to a range of consumers and allow for increasing levels of specificity in the type and number of products in use.
Value Proposition
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- Reliable supplements from prescreened brands
- Community access with other health enthusiasts
- Consistent dosing
- Hassle free travel
- Data driven advice
Financials
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- Basic subscription: 25
- Premium Subscription: 45
- 10% sales commission from partnered manufacturers (Below market average for supplement companies)
- Both subscriptions offered with annual pricing for a 15% reduction (helpful for retention and funding growth)
- 6 moth lock in period for both monthly billed options
- 1st month is free with all of the subscription options
- Token system for customer ecosystem 1 per € for Basic 2 per € Premium
Expansion
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- Improvements to pill tracking, per pill counting
- Increased physical product range with larger sizes to accommodate superusers
- End goal of selling own supplement products for guaranteed quality and higher margins (requires sufficient scale)
Value Proposition Canvas
Pricing
Standard
Monthly subscription
€20 per month
One month free trial
Access to the VitDaily Community
One token per euro spent
Yearly subscription
€204 per year
15% cheaper!
Premium
Monthly subscription
€35 per month
One month free trial
Unlimited daily reminders
Access to chat with health professionals
Extra tokens in customer loyalty program
Yearly subscription
€357 per year
15% cheaper!
Business Overview IDEF0
IDEF0 is used to design a model of the actions, decisions, and activities of a system in order to give an overview to the organization. Here it was used to give an overview of the business.