TasteBuds Product Development 2013

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TasteBuds Product Development:
- $3,500 Award for Highest placing undergraduate team out of 30 (2nd Place)

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TasteBuds Product Development 2013

  1. 1. Food for any mood. Food for any Mood. Butterworth Competition 2013 May 17, 2013 Presented By: Nithin Jilla & Derek Wong
  2. 2. Opportunity: 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. Problem: Choosing where and what to eat can be especially difficult because of… Information Overload Decision-Making Dilemmas Cluttered Competing Apps
  3. 3. Our Solution 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. The problem of deciding where and what to eat is a problem of the past.
  4. 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. 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. 6. 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. 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!
  7. 7. Solution: TasteBuds Personalized Recommendations Vote restaurants up and down and our app will adapt to your personalized preferences for better recommendations.
  8. 8. Solution: TasteBuds 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!
  9. 9. Solution: TasteBuds 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
  10. 10. Solution: TasteBuds Future Features 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! 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!
  11. 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. 12. State of the Game: Competitive Analysis! Advanced User Profiles Personalized Restaurant Recs. Descriptive vs. Prescriptive Cluttered & Fragmented Lack of Specialization Dynamic Contexts Gamification Elements 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.
  13. 13. Business Model: Mobile Advertising is a Growing Market Opportunity
  14. 14. Business Model: Mobile Advertising is a Growing Market Opportunity
  15. 15. Business Model: 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! Flexible Advertising Model: Allows restaurants to capitalize upon seasonal events & holidays (e.g. Pizza Hut “Super Bowl Special”)! Receptive Target Audience TasteBuds users are the most ideal advertising audiencehungry and intent on making a purchase. Highly Receptive to Mobile Ads Most receptive demographic and 33% desire content from personally-relevant companies like local restaurants.!
  16. 16. Business Model: Multiple Sources of Recurring Revenue TIER 1 TIER 2 TIER 3 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) Subscription Revenue: Premium Users (Pay for special discounts & features) Customer Insights & Data: Sell Data to Academic Institutions & Companies Monthly Subscription: Users pay $5/month Monthly Database Access: Companies would pay a nominal fee to access our curated database
  17. 17. The Story So Far: Current Accomplishments! TasteBuds 1.0 Working Mobile App
  18. 18. The Story So Far: Current Accomplishments! TasteBuds 1.0 Working Mobile App TasteBuds Website Working Info Page
  19. 19. The Story So Far: Current Accomplishments! UC Irvine TasteBuds Survey: 83 Responses TasteBuds Website Working Info Page Customer Validation Primary Research 92% 80% Use Mobile Apps to Find Food 79.7% 70.2% TasteBuds 1.0 Working Mobile App Expressed Strong Interest Price is Important Proximity is Important
  20. 20. The Story So Far: Current Accomplishments! Mr. Daniel Esquerra Mr. Walid Antonios Mr. Dale Schall Mr. Dennis Paiva Mr. Kevin Boylan & Keith Treiman
  21. 21. Milestones: TasteBuds 2.0 + Social Media Sharing + Expanded Contexts + Immersive Gamification Features !"#$% &'()% *$+,$-.$/% &'()% TasteBuds 3.0 + Food Tagging & Social Feed + Premium Paid User Content + Start Phase 1: Food Genome Project 0$./"1/2% &'(3%
  22. 22. Request for Financing: $2,500 $5,000 TasteBuds 2.0 TasteBuds 3.0 + Social Media Sharing + Expanded Contexts + Immersive Gamification Features !"#$% &'()% + Food Tagging & Social Feed + Premium Paid User Content + Start Phase 1: Food Genome Project *$+,$-.$/% &'()% 0$./"1/2% &'(3% Operations: Operations: Metrics: Metrics: + 2 iOS Developers + Curators for Restaurant Tagging + Prepare for On-Campus Marketing Efforts starting in Sept. + 500 downloads on iOS + Secure 10 Restaurants + Develop Android App + 5 Interns for Curating Content + Acquire Sales force for Outreach + Plan expansion to campuses including UCLA, USC & UCSD + 1,000 downloads on iOS + Secure 50 Restaurants + 20 Premium Users
  23. 23. Our Team: Derek Wong: Strategy & Marketing Nithin Jilla: Tech & Development + Delta Sigma Pi: Western Province COY + Kenya Dream: President & Founder + 2012 Paul Merage Business Plan: First Place + ICS Student Council: VP of External Affairs + CampusCred: UC Irvine Campus Director + 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. 24. Food for any mood. Thank you Thank you for for your time. Your time. Questions? Butterworth Competition 2013 May 17, 2013 Presented By: Nithin Jilla & Derek Wong

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