1. Team:
Eugene Ho
Dushyant Mullur
Andres Navas
Sarah Ribner
Yvonne Wang
Bite-sized convenient healthy snacks keeping endurance athletes energized
throughout long workouts
Total Interviews: 96
Athletes wanting to buy: 28 out of 34 (82%)
Interested retailers: 4
3. Customer Discovery Journey
Day 1: Paleo Enthusiasts Day 2: Boutique Fitness
Studio Enthusiasts
Interviews: 20
Takeaways: The market is
saturated with healthy snacks
for workout enthusiasts
4. Customer Discovery Journey
Day 1: Paleo Enthusiasts Day 2: Boutique Fitness
Studio Enthusiasts
Day 3: Professionals & Moms
Interviews: 22
Takeaways: Too difficult to
market to different markets
5. Customer Discovery Journey
Day 1: Paleo Enthusiasts Day 2: Boutique Fitness
Studio Enthusiasts
Day 3: Professionals & Moms Day 4: Endurance Athletes
Interviews: 25
Takeaways: There is an unfulfilled
need for nutritious workout snacks
6. Key Partners
• Ingredient
Suppliers
• Packaging
Suppliers
• Commercial
Kitchens
• Contract
Manufacturers
• Distribution
Warehouses
• Health and
wellness bloggers
Key Activities
• Production of
finished product
• Sales to customers
• Marketing to
consumers
Value Propositions
• High protein, on-
the-go snack
made with all-
natural
ingredients
• Gluten free
• Paleo-friendly
• Vegan-friendly
• Base Ingredients:
almond butter,
dates, chia seeds
• Variation
ingredients
include: dried
fruit, nuts, bacon
bits, coconut
flakes, dark
chocolate
• Shelf stable
Customer Relationships
• Provide samples
for food co-ops
and mom-pop
health food stores
• Partner with local
gyms and workout
studios (Crossfit,
Barry’s Bootcamp)
Customer Segments
• Fitness
enthusiasts who
look for on-the-go
snacks to provide
high energy
nutrition
• Moms looking for
healthy snack
options for kids
Key Resources
• Trademark name
and logo
• Capital investment
Channels
• Food co-ops
• Mom-pop health
food stores
• Food service
(cafeterias,
vending machines)
• Internet (website,
Amazon)
Cost Structure
• Ingredients and packaging materials
• Commercial kitchen rental fees
• Co-packing fees
• Marketing budget (samples, ad words, Facebook)
Revenue Streams
• Make money off the margin of consumer buying physical
product
Business Model Canvas – Day 1
7. Business Model Canvas – Day 2
Key Partners
• Ingredient
Suppliers
• Packaging
Suppliers
• Commercial
Kitchens
• Contract
Manufacturers
• Distribution
Warehouses
• Health and
wellness bloggers
• Athletes
Key Activities
• Production of
finished product
• Sales to customers
• Marketing to
consumers
• Marketing to
workout
communities (i.e.
Crossfit)
Value Propositions
• High protein, on-
the-go snack
made with natural
ingredients
• Gluten free
• Paleo-friendly
• Vegan-friendly
• Base Ingredients:
almond butter,
dates, chia seeds
• Variation
ingredients
include: dried
fruit, nuts, bacon
bits, coconut
flakes, dark
chocolate
• Shelf stable
• Resealable bag
Customer Relationships
• Provide samples
for food co-ops
and mom-pop
health food stores
• Partner with local
gyms and workout
studios (Crossfit,
Barry’s Bootcamp)
• Promotion
through athletes
Customer Segments
• Fitness
enthusiasts who
look for on-the-go
snacks to provide
high energy
nutrition
• Fitness
enthusiasts who
exercise at high
end boutique
gyms (Crossfit,
Soul Cycle, Fly
Wheel)
• Moms looking for
healthy snack
options for kids
Key Resources
• Trademark name
and logo
• Capital investment
Channels
• Food co-ops
• Mom-pop health
food stores
• Food service
(cafeterias,
vending machines)
• Internet
Cost Structure
• Ingredients and packaging materials
• Commercial kitchen rental fees
• Co-packing fees
• Marketing budget (samples, ad words, Facebook)
• Brand development (logo and naming consultant)
Revenue Streams
• Make money off the margin of consumer buying physical
product
8. Business Model Canvas – Day 3
Key Partners
• Ingredient
Suppliers
• Packaging
Suppliers
• Commercial
Kitchens
• Contract
Manufacturers
• Distribution
Warehouses
• Health and
wellness bloggers
• Health magazines
• Athletes
Key Activities
• Production of
finished product
• Sales to customers
• Marketing to
consumers
• Marketing to
workout
communities (i.e.
Crossfit)
Value Propositions
• On-the-go snack
made with natural
ingredients
• High protein, low
sugar, high in
antioxidants & fiber
• Sustains energy
throughout the day
and before/after
workouts
• Base Ingredients:
almond butter,
dates, chia seeds
• Other ingredients:
dried fruit, nuts,
coconut flakes, dark
chocolate
• Shelf stable
• Resealable bag or
blister pack
Customer Relationships
• Provide samples
for food co-ops
and mom-pop
health food stores
• Partner with local
gyms and workout
studios (Crossfit,
Barry’s Bootcamp)
• Promotion
through athletes
Customer Segments
• Fitness enthusiasts
who exercise at high
end boutique gyms
(Crossfit, Soul Cycle,
Fly Wheel)
• Moms looking for
healthy snack options
for kids
• Working
professionals who
need a snack that
provides some
degree of
functionality and is
healthy
Key Resources
• Trademark name
and logo
• Capital investment
Channels
• Food co-ops
• Mom-pop health
food stores
• Food service
(cafeterias,
vending machines)
• Internet
Cost Structure
• Ingredients and packaging materials
• Commercial kitchen rental fees
• Co-packing fees
• Marketing budget (samples, ad words, Facebook)
• Brand development (logo and naming consultant)
Revenue Streams
• Make money off the margin of consumer buying physical
product
9. Business Model Canvas – Day 4
Key Partners
• Ingredient
Suppliers
• Packaging
Suppliers
• Commercial
Kitchens
• Contract
Manufacturers
• Distribution
Warehouses
• Health and
wellness bloggers
• Health magazines
• Athletes (cyclists,
marathon runners,
Ironman athletes)
Key Activities
• Production of
finished product
• Sales to customers
• Marketing to
consumers
• Marketing to
workout
communities (i.e.
Crossfit)
endurance athlete
community
Value Propositions
• Bite-sized snacks
made with natural
ingredients
• Sustains energy
during, before and
after workouts
• High protein, low
sugar, high in
antioxidants & fiber
• Base Ingredients:
almond butter,
dates, chia seeds
• Other ingredients:
dried fruit, nuts,
coconut flakes, dark
chocolate
• Shelf stable
• Resealable bag or
blister pack
• Specially designed
packaging to fit in
cycling apparel can
open with one hand
Customer Relationships
• Provide samples
for food co-ops
and mom-pop
health food stores
• Partner with local
running / cycling
stores gyms and
workout studios
(Crossfit, Barry’s
Bootcamp)
• Promotion
through athletes
• Cycling studios
Customer Segments
• Fitness enthusiasts
who exercise at high
end boutique gyms
(Crossfit, Soul Cycle,
Fly Wheel)
• Moms looking for
healthy snack options
for kids
• Working
professionals who
need a snack that
provides some
degree of
functionality and is
healthy
• Endurance athletes
looking for
convenient, healthy
and tasty snacks to
help sustain energy
through long
workouts
Key Resources
• Trademark name
and logo
• Capital investment
Channels
• Food co-ops
• Mom-pop health
food stores
• Food service
(cafeterias,
vending machines)
• Internet
• Running / cycling
stores
Cost Structure
• Ingredients and packaging materials
• Commercial kitchen rental fees
• Co-packing fees
• Marketing budget (samples, ad words,
Facebook)
• Brand development (logo and naming
consultant)
Revenue Streams
• Sell to local running / cycling stores & cycling studios
• Sell direct to consumer online
10. Business Model Canvas – Day 5
Key Partners
• Ingredient &
Packaging
Suppliers
• Commercial
Kitchens
• Contract
Manufacturers
• Distribution
Warehouses
• Health and
wellness bloggers
• Health magazines
• Athletes (cyclists,
marathon runners,
Ironman athletes)
Key Activities
• Production of
finished product
• Sales to customers
• Marketing to
consumers
• Marketing to
endurance athlete
community
• Sponsor
endurance events
such as Ironman
and marathons
Value Propositions
• Sustains energy
during, before and
after long workouts
• Bite-sized snacks
made with natural
ingredients
• High in protein,
antioxidants, fiber,
and complex carbs
• Base Ingredients:
almond butter,
dates, chia seeds
• Other ingredients:
dried fruit, nuts,
coconut flakes, dark
chocolate
• Specially designed
packaging to fit in
cycling apparel &
can open with one
hand
• Shelf stable
• Resealable bag or
blister pack
Customer Relationships
• Local running /
cycling stores)
• Promotion
through athletes
• Cycling studios
Customer Segments
• Endurance athletes
looking for
convenient, healthy
and tasty snacks to
help sustain energy
through long
workouts
Key Resources
• Trademark name
and logo
• Capital investment
Channels
• Internet
• Running / cycling
stores
• Boutique workout
studios such as
SoulCycle,
Flywheel, and
Barry’s Bootcamp
where athletes
train
Cost Structure
• Ingredients and packaging materials
• Commercial kitchen rental fees
• Co-packing fees
• Marketing budget (samples, ad words,
Facebook)
• Brand development (logo and naming
consultant)
Revenue Streams
• Sell to local running / cycling stores & cycling studios
• Sell direct to consumer online
11. Testing our MVP
Athletes wanting to buy: 28 out of 34 (82%)
Interested retailers: 4
Fun fact: One retailer even told
us he wanted to hire Columbia
students!!
12. Biggest Learning Moments
What we thought… Results? What we found…
There is significant demand for a
paleo-friendly snack from the
fitness community
Fitness enthusiasts are not interested in
a paleo snack. Many interviewees do
not know what paleo means
We should market our snack to
three customer segments; athletes,
working professionals and mothers
Targeting three distinct customer
segments in a competitive market
makes branding very difficult
Endurance athletes’ needs are not
met by current snack offerings
Endurance athletes want a snack that
can be consumed during athletic
activity and is all-natural and actually
tastes good
13. Archetypes
Fitness Regimen
- FlyWheel, Barre
Method, Yoga
- 6-mi bike ride every
morning outdoors
Dietary Preferences
- 60/20/20 diet: 60%
daily calories from
carbs, 20% from fat
& protein each
Fitness Regimen
- Gym strength
training
- Running Central Park
Loop weekly
Dietary Preferences
- 6 small meals per day
with 40-50g protein
per meal
- High sodium/protein
snacks after a long
run to help muscle
recovery
Fitness Regimen
- FlyWheel, Soul Cycle,
CrossFit
- Outdoor running
- Strength training &
swimming at gym
Dietary Preferences
- Prefers to snack on
gel during a race
- Consumes 350
calories/hour while
training for race
Jim, 41
Pro Cyclist
Grand Tour
Lana, 26
Marathon Runner
NYC Marathon
Eddie, 30
Triathlete
Ironman
14. Revenue Strategy
Online Sales
Endura-Bites
Customer
$$$
Product
Endura-Bites are sold directly
from the company to the
customer via company
website
Endura-Bites
Retailer
Customer
Retailers
$$$
$$$
ProductProduct
Endura-Bites are sold to
retailers at a discount to final
price. Retailers sell snack
directly to customers
Online
Sales:
Retail Price:
$2.99
Production
Cost:
$1.00
Margins:
200%
Retail
Sales:
Retail Price:
$2.99
Price to
Retailer:
$1.50
Production
Cost:
$1.00
Margins:
50%
15. Market Size
Total Available Market
$68B
Served Available
Market
$8.3B
Target Market
$83M
Total Available Market
• Sports nutrition market
Served Available Market
• Energy bar market
Target Market
• Endurance athletes
Source: Euromonitor
16. Customer Relationships
Get
Keep
Grow
• Online marketing
(Google Adwords,
Facebook)
• Physical
tasting/sampling at
endurance events
and sports stores
• Health blogs and
magazines
• Discount codes for
repeat online
customers
• Special discounts
for long-term
partners and
retailers
• Introduce new
flavors
• Introduce
bundles and
different pack
sizes
• Expand available
distribution
channels
• Further brand
development
17. Top 3 Transferable Course Takeaways
1. Strong value proposition is best achieved by zooming into
customers’ immediate unfulfilled needs
2. Start-ups should establish themselves by first focusing on
nailing one unsaturated segment before gunning for multiple
segments
3. Interviewing customers with a physical MVP elicits much
better quality of insights and much stronger purchase
interest
18. Next Steps
• Validate differentiating factors
• More MVP testing
• Logos + Brand
• Packaging options
• Solidify recipes and SKUs
• Identify packaging suppliers
• Plan out sourcing strategy
• Refine channel strategy
• Define marketing and branding strategy
Notes de l'éditeur
Include number of interviews per day
Include takeaways for each day
Break out types of interviewees
Yvonne
Include number of interviews per day
Include takeaways for each day
Break out types of interviewees
Yvonne
Include number of interviews per day
Include takeaways for each day
Break out types of interviewees
Yvonne
Include number of interviews per day
Include takeaways for each day
Break out types of interviewees
Yvonne
Color Code Customer Segments
Discovery narrative:
Here’s what we thought – paleo, heavy workout enthusiasts
Here’s what we found – no paleo, no bacon, people who just like to work out and stay healthy
Here’s what we are going to do next – higher end boutique workout studios (barry’s, flywheel, soul cycle, equinox, etc)
Color Code Customer Segments
Discovery narrative:
Here’s what we thought – paleo, heavy workout enthusiasts
Here’s what we found – no paleo, no bacon, people who just like to work out and stay healthy
Here’s what we are going to do next – higher end boutique workout studios (barry’s, flywheel, soul cycle, equinox, etc)
Color Code Customer Segments
Discovery narrative:
Here’s what we thought – paleo, heavy workout enthusiasts
Here’s what we found – no paleo, no bacon, people who just like to work out and stay healthy
Here’s what we are going to do next – higher end boutique workout studios (barry’s, flywheel, soul cycle, equinox, etc)