23A – VENTURE UNFAIR ADVANTAGE

23A – VENTURE UNFAIR ADVANTAGE

1.     Exclusiveness of suppliers in the area

Valuable: It is valuable because you will only find the products I will offer in the store near campus

Rare: it is rare because you would not find the product near unless you order it online or drive at least 2 hours

Inimitable: it can be imitable

Non-substitutable: it can be substituted by other suppliers

2.     Social media: I have had experience working with social media in the past, as I was in charge one summer of the social media of a supermarket

Valuable: it is important knowledge in order to advertise and connect with customers

Rare: it is not rare as many people know how to use social media to brand their product or service

Inimitable: it is somewhat inimitable because you use social media with a personal style either way it can be copied

Non-substitutable: it is a knowledge that cannot be substituted

3.     Professionals (nutritionists and trainers): I will have the best professionals in order to achieve the best results

Valuable: it is valuable because they will help to provide the best service for customers

Rare: it is not rare because at the moment there are many professionals

Inimitable: it is inimitable because you just can’t imitate everything about a person

Non-substitutable: it is somewhat substitutable, you can just change the person, but you can’t change the professional

4.     Convenience for people with a low budget

Valuable: it is valuable as many people just eat fast food and do not exercise as they think it will be expensive

Rare: it is somewhat rare to find healthy food at a low price and with good ingredients

Inimitable: it can be imitated

Non-substitutable: it can’t substituted because this is one major thing that will attract customers

5.     Connection to college students

Valuable: it is valuable because it is a way to attract customers

Rare: it is not rare

Inimitable: it can be imitated

Non-substitutable: it can’t be substituted

6.     Management experience: in the past, I have worked with my dad in his company so I know the key managerial skills needed to run a business

Valuable: it is valuable because every business need this type of skills

Rare: it is not rare

Inimitable: it can be imitated

Non-substitutable: the knowledge can’t be substituted

7.     Time management skills

Valuable: yes, it is important

Rare: it is not rare

Inimitable: no, because this is personal

Non-substitutable: no, I think this a key factor for success in all companies

8.     Socially responsible: this company will be social responsible as it cares about the wellness and health of students

Valuable: yes, it is valuable because it is socially conscious

Rare: it isn’t rare, because eating healthy is now a trend

Inimitable: somewhat, this a major value of the company so in that context it can’t be imitated, but as a socially responsible yes it can.

Non-substitutable: it is not substitutable

9.     Organizational skills

Valuable: yes, it is valuable because this will help to run with efficiency the company

Rare: it is not rare

Inimitable: this is somewhat personal

Non-substitutable: no, this is important to keep the company in order

10.  Convenience for people with no time  

Valuable: yes, this is a key element that will attract customers

Rare: it is somewhat rare to find a place where you can eat fast and healthy food

Inimitable: it is imitable

Non-substitutable: no, since this is an important element to attract customers

After doing this VRIN analysis I think every element is important to the success of the product and the company. However, I think the most important thing is to keep the promise with customers that this will be affordable and that will be a fast service