New Business Concept: New Venture Fitness Drinks

**New Business Concept** **New Venture Fitness Drinks Inc.** **Product** New Venture Fitness Drinks will sell delicious, nutrition-filled, all-natural fitness drink to thirsty sports enthusiasts. The drinks will be sold through small storefronts (600 sq. ft.) that will be the same size as popular...

**New Business Concept** **New Venture Fitness Drinks Inc.** **Product** New Venture Fitness Drinks will sell delicious, nutrition-filled, all-natural fitness drink to thirsty sports enthusiasts. The drinks will be sold through small storefronts (600 sq. ft.) that will be the same size as popular smoothie restaurants. The drinks were formulated by Dr. William Peters, a world-renowned nutritionist, and Dr. Michelle Smith, a sports medicine specialist, on behalf of New Venture Fitness Drinks and its customers. **Target Market** In the first three years of operation, New Venture Fitness Drinks plans to open three or four restaurants. They will all be located near large sports complexes that contain soccer fields and softball diamonds. The target market is sports enthusiasts. **Why New Venture Fitness Drinks?** The industry for sports drinks continues to grow. New Venture Fitness Drinks will introduce exciting new sports drinks that will be priced between \$1.50 and \$2.50 per 16-ounce serving. Energy bars and other over-the-counter sports snacks will also be sold. Each restaurant will contain comfortable tables and chairs (both inside and outside) where sports enthusiasts can congregate after a game. The atmosphere will be fun, cheerful, and uplifting. **Special Feature---No Other Restaurant Does This** As a special feature, New Venture Fitness Drinks will videotape select sporting events that take place in the sports complexes nearest its restaurants and will replay highlights of the games on video monitors in their restaurants. The "highlight" film will be a 30- minute film that will play continuously from the previous day's sporting events. This special feature will allow sports enthusiasts, from kids playing soccer to adults in softball leagues, to drop in and see themselves and their teammates on television. **Management Team** New Venture Fitness Drink is led by its cofounders, Jack Petty and Peggy Wills. Jack has 16 years of experience with a national restaurant chain, and Peggy is a certified public accountant with seven years of experience at a Big 4 accounting firm. **[Questions:]** 1. Is the idea of new venture fitness drink based on production, product, selling and/or marketing concept(s)? Explain. 2. Who are the customers and what is value-preposition for them in this new venture? 3. What is marketed in this case? List it down with explanation. 4. Does this new venture satisfy wants or needs of the targeted customers? Explain.