24A – Venture Concept No. 1

When viewing my product which milktea, I realized that potential customers are teenagers or people who likes to explore new drinks and culture. Milktea is ultimately a drink, thus people will seek out the product once they are tired, thirsty or are in need of a refreshment when completing their homework. In addition, many college students or people like to meet up and do homework or catch-up with each other. The café will also provide the place for college students or people to meet up. Currently, the milktea market is the biggest in Asia. In the states, the density of milktea café increases in college town, such as UF. From this, we can see that the milktea market is geographically and demographically influenced. With many cafes open, customers are going to other places that sell the drink to satisfy their craving for the product. In addition, there are other who would make their own milktea at home. Most of the customers are loyal if they fine a café that they truly. However, there are many other customers that just like to go and drink at different cafes to try the different types of milktea. The window of opportunity is closing each day as there are more and more café opening. However, with more café opening we can see that the market is growing making the opportunity bigger. With more cafes there will be more competition thus it is crucial that you have a unique product served in the café to differentiate yourself.

Even though we discuss about the opportunity, it is important to view the product more in-depth. The innovation is the bobas. Bobas are the black tapioca pearl usually found in milktea. However, the black tapico pearl only has one flavor and texture. Thus, by introducing new boba with different flavor and texture, the drink will be enhanced. For example, when you are drinking the milktea you all of a sudden chew on something crunchy. The café will be making money by selling the drinks. Thus, by selling more and more drinks the profit will be greater. This causes the customers to have a new experience and cause them to kept wanting to drink the milktea. The price of the drink will either similar to that of other cafés or be less. We are, however, trying to make the drink as inexpensive as possible to draw in more customers. It is difficult to determine the exact price of the drink because we do not know the cost of the ingredients. Thus, the price we are hoping to stay under is $3.50 for both the large and small size when we first start. If we can gain the trust of the customers, then we will raise the price. By gaining the trust of the customer, I mean the customers know that we are serving them quality drinks and bobas.

After discussing about the opportunity and innovation, we can now establish a relationship between them. With people and especially college students wanting to tired new drinks, the café will address desire of the college students. With the new boba, the students will be intrigue and want to try out the new product. In addition, the café will also serve as a place for meeting between people. There are a couple of reason as to why the customer may buy the milktea. The first reason is because of the new concept; the drinks and that we offer cannot be find anywhere else. The second reason is the price. With the price being lower than most cafes, customers will be drawn to the café. The last reason is because of the homemade aspect of the drink. At first it will be hard to attract customers, because they will be unaware that such a café exists. Thus, the main concern in the beginning is the amount of customers. However, through marketing and word-of-mouth, the café reputation will build, leading to more and more customers.