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People's Market CSV Analysis -2
- 1. Olivia Martins, HannahDion, Keely Griffin Shared Value Analysis
- 2. Table of Contents 1.People’s Market a.History b.Overview c.Business Plan 2. Problem a.Food Waste 3. Shared Value Solution a.Overview b.Plan of Implementation Inside the market
- 3. History Founded 1973 asa collective of women Student run co-op Located in student union at UMass Picture of previous PM employees from the 1970’s
- 4. Mission “To provide aplace for the University community to buy fresh, natural foods” “To provide the University community with an alternative eating place” “To promote the co-operative and collective movements” “To educate and inform the community about nutritional, political, and social issues in the realm of the food industry” Picture of “mission banner” hanging up above the doorway inside the market
- 5. Business Model: KeyPartners Dean’s Beans- Orange, MA Tandem Bagel- Easthampton, MA UNFI: Shipping partner All Star Dairy Foods- South Hadley, MA Gordon’s Food Service- Taunton, MA Sustainable Indulgence Conway Kitchens Polar-Worcester, MA
- 6. Business Model: Resources Staff:Co- managers Brand/sustainable Image Long history at UMass Products from key partners Picture of PM employee behind the counter
- 7. Business Model: ValuePropositions ● Safe space for customers ○High levels of trust between co-managers & customers ● Co-op; customers are both partners and friends ● Go-to source for ethically- gathered food, beverages, and personal care products Picture of inside the market
- 8. Business Model: CostStructure Value-driven cost structure Value creation & premium value proposition Fixed costs Rent, payroll, utilities Variable costs Direct materials, production supplies
- 9. Business Model: Revenue Streams ●Customersuse debit, credit, or cash ○Customers would prefer to use YCMP or Dining Dollars ●Customers pay for experience & variety of products (coffee, bagels, beverages, etc.) ●Decline in revenue over past few years
- 10. Value Chain PM’s operationsoccur at UMass PM sources ethnically gathered foods, beverages, & personal care products Locally transported to PM Direct Product partnership with key partners Committed Workforce PM work culture Products reach customers only through the store
- 11. Working Definition ofSustainability Small business practices provide the best definition of sustainability Work to achieve collective goals & promote the knowledge of social issues in the community & market Support of sustainable issues
- 13. Communication Channels Direct contactin store Social media outlets Communication is aimed toward public & subscribers about sustainability within the community View of PM from the ILC
- 14. Business Model: Customer Segments TargetMarket: Millennials Lifestyles of Health and Sustainability (LOHAS) Values “Globally aware, charitable, and information hungry” Outreach Most likely to be informed of & become engaged in non-profit organizations online via social media Purchasing Habits Millennials are expected to buy green more than 35+ years old
- 15. This figure showsthe breakdown of green purchasing habits by age. Millennials hold the highest percentages in the super green and true green categories for green purchasing habits
- 16. Initiatives and Activities PMonly sells non-conflict products Locally focused buying enables a low cost in shipping & carbon emissions “Bring your own mug” Cuts back on waste & provides cheap coffee for customers Employment is based on equality & diversity Co-managers
- 17. Gaps in CSV PMaims to promote awareness surrounding social & environmental issues PM does not have any CSV initiatives that promote social issue awareness within the surrounding communities
- 18. Food Waste Natural ResourcesDefense Council (NRDC) reported Americans trash 40% of food supply every year, valued at about $165 billion The average American family of four ends up throwing away an equivalent of up to $2,275 annually in food Food waste is the single largest component of solid waste in US landfills A 15% reduction in losses in the US food supply would save enough food to feed 25 million
- 20. Implementation Steps 1. PMpartners with Tandem Bagel 2. PM & Tandem will donate bagels to local schools, shelters, & other non-profits 3. PM & Tandem will promote the new campaign through social media - “A Bagel On Every Table” 4. PM & Tandem will offer a discounted bagel to customers who participate in the social media campaign
- 21. Social Media Campaign Customersuse #ABagelOnEveryTable on Facebook, Twitter, or Instagram with the handle @peoplesmarket73 Customer must show cashier picture upon purchase to get discounted bagel & spread PM and Tandem Bagel must promote campaign on their own social media platforms A tracking component should be installed on PM’s website to track information relating to the campaign
- 22. Social Media Examples Promo fromTandem and PM Promo from customers
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- 25. References Continued "People's Market."People's Market. Umass, n.d. Web. 18 Apr. 2015.<http://www.umass.edu/rso/peoples/>. Porter, M. E., & Kramer, M. R. (2011). Creating shared value. Harvard Business Review, 62–77. Q&A interview with the staff at the “All-Staff” meeting The business model canvas and other course content materials Shared Value Initiative - http://sharedvalue.org/ https://sharedvalue.org/groups/shared-value-initiative-community/what-does-creating-shared-value-mean-nonprofit-sector FSG - http://www.fsg.org Pfitzer, M., Bockstette, V., & Stamp, M. (2013). Innovating for Shared Value. Harvard Business Review, 91(9), 100–107. Porter, M. E., Hills, G., Pfitzer, M., Patscheke, S., & Hawkins, E. (2011). Measuring Shared Value (pp. 1–22). FSG. Retrieved from http://www.fsg.org Kurucz, E., Wheeler, D., & Colbert, B. (2013). Reconstructing value: Leadership skills for a sustainable world. University of Toronto Press. http://managementhelp.org/organizationalsustainability/ http://gogreenplus.org/nuts-and-bolts-guide/performance-nuts-and-bolts-guide/sustainability-management/sustainability-plans/ http://www.sustainabletable.org/472/intro-to-food-waste
Editor's Notes
- #2 Hannah
- #3 Hannah
- #4 Hannah
- #5 Hannah
- #9 Less concerned with cost, this business model focuses on creating value for their products and services.
- #11 Hannah
- #12 Hannah
- #13 Hannah
- #14 Hannah
- #15 Keely starts People’s Market are millennials who are part of the LOHAS category, which stands for Lifestyles of Health and Sustainability (LOHAS). Millennials specifically are much more information hungry and aware of global issues than other generations. Specifically, millennials are more conscious about what items they purchase and tend to purchase more environmentally friendly products.
- #17 As we saw earlier from the sign PM put up about Coca Cola, they do a good job at sourcing and selling quality products to their customers that are also good for the areas where the products are made. They also mostly buy local, which cuts down on carbon emissions They also have a “bring your own mug” policy, which means they allow their customers to bring in their own mugs to fill them up with coffee for a reduced price Lastly, they strive to employ people of all different backgrounds, cultures and ethnicities in order to create a diverse workplace
- #18 PM doesn’t have any local initiatives to help the local community in any way, so we decided to focus on this aspect.
- #19 Since PM sells products, they end up throwing away a lot of products, creating a lot of food waste. The Natural Resources Defense Council reported that americans throw away 40% of the food supply each year, which is valued at $165 billion. Food waste is the largest component of solid waste in the US The reduction of food waste by 15% could feed 25 million americans annually
- #20 Reconceiving new markets and products Making the value chain more productive We are giving students and the local community a lower price for food, which will attract more people, and in return, PM will get free advertising PM doesn’t have a marketing budget, so they need this
- #21 The first step in order to implement this plan would be to partner with Tandem Bagel They will then need to come up with a system to donate the bagels to local schools, shelters and other non-profits Next, they will need to promote their campaign through social media. We came up with the idea of calling the campaign, “A Bagel On Every Table” Lastly, PM & Tandem will need to offer a discounted bagel and spread to every customer who participates in the social media
- #22 So in order for the customers to participate in the campaign, they must take a picture of their bagel, with the appropriate branded deli paper, and post the pic to either FB, Twitter, or Instagram. In order for the customer to get a discount, they must show their social media post to the cashier at their next check out
- #23 The picture on the left shows the kind of promotion that Tandem and PM will be in charge of posting in order to promote the campaign And the pic on the right shows what the customers will post on their social media platforms. They will have to make sure to have the appropriate branded deli paper