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TasteBuds: Product Development

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Presentation and functioning MVP for a product development competition that won $3,500 as the highest placing undergraduate team out of 30 (2nd place).

Presentation and functioning MVP for a product development competition that won $3,500 as the highest placing undergraduate team out of 30 (2nd place).

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  • 1. Presented By: Nithin Jilla & Derek Wong Food for any Mood. Food for any mood. Butterworth Competition 2013 May 17, 2013
  • 2. Opportunity: Choosing where and what to eat can be especially difficult because of… Problem: The love for food is shared by virtually every person on the planet. But the desire to explore culinary creations is hindered by certain constraints. Information Overload Decision-Making Dilemmas Cluttered Competing Apps
  • 3. We’ve created a simple mobile app that recommends restaurants to people based on their personal preferences. Our app learns what types of restaurants a user enjoys based on the time of day, their mood, or a specific activity. Our Solution The problem of deciding where and what to eat is a problem of the past.
  • 4. Solution: TasteBuds Dynamic Contexts Our app provides a dynamic experience that adapts to the time of day or any special events and holidays. Food for any occasion! Mood & Activity Discover new restaurants to fit your mood or activity. Whether you're looking for an Energy Boost or Midnight Munchies, we got you covered! Sponsored Contexts Get access to special deals, coupons, and promotions offered by brands and restaurants. Perfect for the savvy eater!
  • 5. Solution: TasteBuds Food by Mood Our app learns what types of restaurants you like to dine at when you’re feeling happy or under the weather.
  • 6. Solution: TasteBuds Filter by Distance Walking to lunch? Picking up a friend for dinner? Our app finds restaurants that match your logistical needs. Filter by Price Point Our app will recommend the right restaurants that match your budget each time you’re feeling hungry. Keep your stomach and wallet full! Food by Mood Our app learns what types of restaurants you like to dine at when you’re feeling happy or under the weather.
  • 7. Solution: TasteBuds Personalized Recommendations Vote restaurants up and down and our app will adapt to your personalized preferences for better recommendations.
  • 8. Gamification Features We’ve integrated rich game elements to make our user experience immersive and rewarding. Users will be able to unlock achievements and special deals! Personalized Recommendations Vote restaurants up and down and our app will adapt to your personalized preferences for better recommendations. Solution: TasteBuds
  • 9. Personalized Recommendations Vote restaurants up and down and our app will adapt to your personalized preferences for better recommendations. Gamification Features We’ve integrated rich game elements to make our user experience immersive and rewarding. Users will be able to unlock achievements and special deals! Taste Quizzes to Train Application Our app is all about improvement. Take quick & fun quizzes to improve the efficacy of our restaurant recommendation engine Solution: TasteBuds
  • 10. Pages of Contexts More contexts mean great variety and a deeper user experience. Our app is designed for continued usage. Social Media Integration Food is social! Check into favorite social media sites. Find friends that have similar preferences and grab food together. “Freemium” Features Unlockable achievements. Special deals and discounts. Built-in loyalty card. The opportunities are endless! Future Features Food Tagging & Social Feed Users can tag food individual dishes, flavors, and ingredients. Users can browse through a feed that displays dishes their friends have eaten to try them later! The Food Genome Project We want to create the world’s first curated archive of all the food in the world. It starts with this app! Solution: TasteBuds
  • 11. Meet the Multicultural Millennial Demographics: + Ages 18-34 + Tend to be of minority descent + Urban/sub-urban environments + College-educated + Moderate-high levels of income Psychographics: + 42% eat out once a month at fine dining restaurant + 43% agree that coupons influence food purchases + 32% are overwhelmed by daily decision-making Technology Usage: + Highest Smartphone usage rate at 69%, + Use multiple devices for sharing content + Heavy consumers of digital media
  • 12. State of the Game: Competitive Analysis No app provides personalized restaurant recommendations or experience. No distinct market leader (outside of Yelp) Competing apps provide service offerings are that are too broad and cater to the general public. Descriptive vs. Prescriptive Cluttered & Fragmented Lack of Specialization Advanced User Profiles Personalized Restaurant Recs. Dynamic Contexts Gamification Elements
  • 13. Business Model: Mobile Advertising is a Growing Market Opportunity
  • 14. Business Model: Mobile Advertising is a Growing Market Opportunity
  • 15. Hyper-targeted ad platform for restaurants Customizable Sponsored Contexts We have incredible insights regarding our users’ eating habits, allowing our ads to reach the right users. Special Coupons & Deals: Restaurants can promote their discounts with our app to attract more clientele Receptive Target Audience TasteBuds users are the most ideal advertising audience- hungry and intent on making a purchase. Flexible Advertising Model: Allows restaurants to capitalize upon seasonal events & holidays (e.g. Pizza Hut “Super Bowl Special”) Highly Receptive to Mobile Ads Most receptive demographic and 33% desire content from personally-relevant companies like local restaurants. Business Model:
  • 16. Multiple Sources of Recurring Revenue TIER 1 Advertising Revenue: Sponsored Contexts from Local Restaurants. Expand to franchises and chains. Negotiated Terms: 24-hour Dynamic Contexts mean more advertising opportunities; (PPC, CPM, Revenue Share) TIER 2 Subscription Revenue: Premium Users (Pay for special discounts & features) Monthly Subscription: Users pay $5/month TIER 3 Customer Insights & Data: Sell Data to Academic Institutions & Companies Monthly Database Access: Companies would pay a nominal fee to access our curated database Business Model:
  • 17. The Story So Far: Current Accomplishments TasteBuds 1.0 Working Mobile App
  • 18. TasteBuds Website Working Info Page The Story So Far: Current Accomplishments TasteBuds 1.0 Working Mobile App
  • 19. UC Irvine TasteBuds Survey: 83 Responses 92% Expressed Strong Interest 80% Use Mobile Apps to Find Food 79.7% Price is Important 70.2% Proximity is Important Customer Validation Primary Research The Story So Far: Current Accomplishments TasteBuds 1.0 Working Mobile App TasteBuds Website Working Info Page
  • 20. Mr. Walid Antonios Mr. Dennis PaivaMr. Daniel Esquerra Mr. Dale Schall Mr. Kevin Boylan & Keith Treiman The Story So Far: Current Accomplishments
  • 21. Milestones: June 2013 September 2013 TasteBuds 2.0 + Social Media Sharing + Expanded Contexts + Immersive Gamification Features TasteBuds 3.0 + Food Tagging & Social Feed + Premium Paid User Content + Start Phase 1: Food Genome Project February 2014
  • 22. Request for Financing: Operations: + 2 iOS Developers + Curators for Restaurant Tagging + Prepare for On-Campus Marketing Efforts starting in Sept. Metrics: + 500 downloads on iOS + Secure 10 Restaurants + Develop Android App Operations: + 5 Interns for Curating Content + Acquire Sales force for Outreach + Plan expansion to campuses including UCLA, USC & UCSD Metrics: + 1,000 downloads on iOS + Secure 50 Restaurants + 20 Premium Users $2,500 $5,000 June 2013 September 2013 TasteBuds 2.0 + Social Media Sharing + Expanded Contexts + Immersive Gamification Features TasteBuds 3.0 + Food Tagging & Social Feed + Premium Paid User Content + Start Phase 1: Food Genome Project February 2014
  • 23. Our Team: Derek Wong: Strategy & Marketing + Delta Sigma Pi: Western Province COY + 2012 Paul Merage Business Plan: First Place + CampusCred: UC Irvine Campus Director Nithin Jilla: Tech & Development + Kenya Dream: President & Founder + ICS Student Council: VP of External Affairs + UCI Startup Weekend: Co-Coordinator Candace Wu: Product Analyst Norman Tran UX/UI Specialist & Designer Bryan Cuevas Front-End & Backend Developer Michael Thomas Back-End Database Developer
  • 24. Presented By: Nithin Jilla & Derek Wong Thank you for your time. Questions? Food for any mood. Butterworth Competition 2013 May 17, 2013