Cook Smarter

Not Harder
Innovation & New Product Development

Daniel Bopp 22038780

Rahul Kumar 22038818
Romil Jain 22139132
Shrawani S. 23039397
TABLE OF CONTENTS

1 Our Team Realization Plan 6

2 Executive Summary Competitor Analysis 7
3 Common Problems Market Segmentation & 4p’s 8
4 Product Description Business Model Canvas 9
5 Opportunities & Risks Financing 10
OUR TEAM

Daniel Bopp Rahul Kumar

Chief Executive Officer Chief Technology Officer

Romil Jain Shrawani Shekhar

Chief Financial Officer Chief Marketing

Officer
PRODUCT TEAM
Hardware Software
Product Manager AI Architect
Engineer Engineer

Writes code and Machine learning

Oversees product Physical components
integrates with algorithms and AI
life cycle - IoT integration
hardware functions

QA Engineer Sales Lead Marketing Lead Data Scientist

Conducts data
Promotes product
Performance and Works with clients gathering and
using different forms
quality standards and gathers feedback analytics to improve
of media
AI
EXECUTIVE SUMMARY
INTRODUCTIO MARKET
N OPPORTUNITY PRODUCT & INNOVATION

Transforming German cuisine Our AI ovens meet the demand for Our next-gen smart ovens, with AI-
through AI-driven ovens, seamlessly innovative cooking, tapping into the infused heat management and intuitive
blending cutting-edge technology interest in smart kitchen appliances. controls, redefine home cooking.
with traditional methods.

TARGET FINANCIALS & FUTURE

AUDIENCE STRATEGY OUTLOOK

Our focus is on tech-savvy home Emphasizing aggressive growth and Fusing leading AI and German engineering,
cooks. Initially launching in market penetration is the core of our we aim for global market expansion with
Germany, our long-term vision is financial strategy. unwavering commitment to innovation.
to expand globally.
WHAT IS THE MOST COMMON
PROBLEM?
WHAT ARE THE OTHER
PROBLEMS?
LOW
BURNT FOOD HEIGHT
Food often gets burnt due People don’t want to bend
to over cooking down to open an oven

NO SELF ON/OFF SLOW HEAT

No system of automatic Take time to gets
switch on and off in heated up and cook
oven food
WHO IS THE TARGET
GROUP?
TECH FOOD BUSY
ENTHUSIASTS ENTHUSIASTS PROFESSIONALS
● Early adopters of ● Cooking enthusiasts ● Professionals with no
technology ● Food bloggers time
● Having interest in smart ● Families with hectic
home devices schedules

MILLENNIAL & PROFESSIONAL

FITNESS SEEKERS GEN Z CHEF
● Healthy lifestyles ● Use Apps in ● Career in cooking
● Mindful eaters smartphones ● Seek advanced cooking
● Voice commands features
PRODUCT
DESCRIPTION
BUSINESS IDEA
We specialize in the design, manufacturing, and sale of
cutting-edge Generative AI-powered ovens that redefine
the cooking experience.

FEATURES
• Large Digital Screen
• Camera
• Generative AI
• Recipe Repository
• Voice Control
• App Integration
• Cooking Assistance
• Automated Cooking
WHAT IS THE USP?

COOKING VIA
GENERATIVE AI

Cooks you food all by itself without disturbing you!

WHAT TECHNOLOGIES ARE
NEEDED?
GENERATIVE SMART
AI IoT SENSORS
Machine learning For remote monitoring and Sensors for gesture and
algorithms for recipe control capabilities temperature calculation for
optimization & predictive accurate cooking
cooking

DATA CYBERSECUR
MOBILE APP ANALYTICS ITY
For remote control via your For analysis of usage patterns For security of user data
smartphone with end to end encryption
WHAT ARE THE
OPPORTUNITIES?
GLOBAL EXPANSION SMART HOME COLLAB
Expand market reach beyond Germany to tap into Collaborate with popular smart home platforms for
growing demand in diverse regions. seamless integration and enhanced user experience.

CUSTOMIZATION & AI SUBSCRIPTION MODELS

Offer personalized cooking experiences through AI Subscription-based models that give additional
algorithms that adapt to user preferences. services like access to exclusive recipes, cooking
tutorials, and regular software updates for enhanced
functionalities.
WHAT ARE THE RISKS?
Risk Likelihood of Risk Risk Probability
Risk Risk Type Impact (%) Owner Risk Mitigation
Explanation Occurrence (LO) Probability (LO*Impact/100)

Continuous
AI might be Software
AI Malfunctions Technology Risk 30% 40% Medium 12% investment in R&D to
slow Team
stay ahead

Keep robust
IoT might be
Cybersecurity Technology Risk 10% 20% Low 2% IT Team cybersecurity
hijacked
measures

Low Customer Not popular Marketing Use effective

Market Risk 20% 30% Low 6%
Acceptance among people Team marketing

Economic Diversify product

Less spending Market Risk 20% 30% Low 6% GTM Team
Uncertainty offering

Use Patents,
IP Challenges Infringements Legal Risk 10% 30% Low 3% Legal Team
trademarks, et.

Political China-Taiwan Geopolitical Board of Expand to new

20% 30% Low 6%
Scenario NATO War Risk Directors markets
 PREPARING FOR THE
FUTURE
CUSTOMER VALUE

Open
Innovation

Smart Oven with AI

Smart Oven A
A Evolution
AI
I

Traditional Oven
A
Sensors Sustaining
AI Continuous
Strategic
Partnership
Improvement with Sensor
with AI Manufacturer
Original Product

TIME
COMPETITORS
ANALYSIS
Cookers & Ovens Brand Share (Germany)
Leisure
Bosch 3%
AEG 4%
4% Other
Siemens 32%
5%
LG
5%

Gorenje
5%

Flavel
5%

Samsung
6%

DeLonghi
Miele 18%
13%

Fuchs, C., & Golenhofen, F. (2019). Mastering Disruption and Innovation in Product Management: Connecting the Dots (1st ed. 2019). Springer International Publishing : Imprint: Springer. https://doi.org/10.1007/978-3-319-93512-6
Cookers & Ovens - Germany. (n.d.). Retrieved December 16, 2023, from https://www-statista-com.library.myebs.de/outlook/cmo/household-appliances/major-appliances/cookers-ovens/germany
REALIZATION PLAN
& MILESTONES
Refinement &
Concept & Market Research Prototype & Testing
• Components and Capabilities Product Development
• Create prototype with basic
• Market Segmentation • AI advanced development
• AI functionality
Competitor Analysis • Integration testing with
• Validate core features
• Focus Group cameras, sensors, App, voice
(sensors, camera, etc.)
• Gather data control
• Focus Group

Production Quality Assurance

• Mass production of the oven • Obtain regulatory compliance certificates
• Obtain energy efficiency certificate

Launch Marketing Product Launch

• Begin marketing campaign using target • Product is on the market for sale
markets • Manage and monitor post launch feedback
• Leverage influencers (generate hype)
COMPETITIVE
POSITIONING
Generative AI

Artificial Intelligence

Voice Activated
AUTOMATIO
N

Gesture Activated

SMART
OVEN
MARKET
SEGMENTATION

BEHAVIORAL

Progressive
10% 10% 25%

Laggards Early Majority Early Adopters

Regressive
20% 20% 15%
Try editing this text
according to your
needs
PSYCHOGRAPHI
https://datareportal.com/reports/digital-2022-germany#:~:text=There%20were%2078.02%20million%20internet,percent)%20between%202021%20and%202022. C
https://www.mckinsey.com/~/media/mckinsey/featured%20insights/europe/stimulating%20digital%20adoption%20in%20germany/driving-german-competitiveness-in-the-digital-future.pdf
 4 P’s ANALYSIS
Tailored features for different segments Omni-channel distribution: online and
(Psychographic and Behavioral) offline

Advanced technology for Early Adopters; Specialized retailers for Early Adopters;
user-friendliness for Laggards traditional retail for Laggards

Product Price Place Promotion

Competitive pricing for the Early Majority Targeted marketing campaigns for each segment

Premium packages and financing options for Utilize digital marketing for Progressive buyers;
Early Adopters traditional advertising for Regressive buyers
BUSINESS MODEL
CANVAS
Key Partners Key Activities Value Proposition Customer Customer Segments
Relationships
- Retailers and Distributors - Research & Development - Customizable cooking - Psychographic Segments:
- Smart Home System - Manufacturing & Quality experiences Laggards, Early Majority,
- Personalized support for
Providers Control - Time-saving and energy- Early Adopters
Early Adopters
- Cooking Influencers - Marketing and Promotion efficient cooking - Behavioral Segments:
- User-friendly interfaces
- Suppliers of AI components - Customer Support and - Integration with smart home Regressive and Progressive
- Social media channels
Training systems Buyers
- Voice commands and recipe
suggestions
Key Resources - Reliability and traditional Channels
cooking functions

- Advanced AI technology - Online Sales Platforms

- Manufacturing facilities - Appliance Retail Stores
- Skilled tech support - Mobile App stores
- Marketing and sales teams - Smart home ecosystem
- Partnerships with retailers providers
and influencers

Cost Structure Revenue Streams

- Research and Development Costs - Product Sales to Different Segments

- Manufacturing and Production Costs - Subscription Models for Premium Features
- Marketing and Advertising Expenses - Licensing of AI Technology
- Distribution and Sales Costs - Maintenance and Support Fees
FINANCING
Germany Kitchen Oven Market 2024 2025 2026 2027 2028 2029 2030

Total No of Products 975,000 1,072,500 1,179,750 1,297,725 1,427,498 1,570,247 1,727,272

NexGen Products 48,750 53,625 70,785 103,818 128,475 157,025 259,091

New Product Share 4% 6% 10% 16% 28% 38% 42%

Number of New Products 1,950 3,218 7,079 16,611 35,973 59,669 108,818

Market Price of New Product (€) 1,500 1,575 1,654 1,786 1,965 2,161 2,485

Revenue of New Products (€) 2,925,000 5,067,563 11,706,069 29,667,862 70,674,411 128,952,754 270,444,466

Cost Per Product (€) 900 963 1,030 1,103 1,180 1,262 1,351

Profit from New Products (€) 1,170,000 1,969,110 4,412,312 11,353,724 28,236,546 53,632,281 123,468,457

Accumulated Profit (€) 1,170,000 3,139,110 7,551,422 18,905,146 47,141,693 100,773,974 224,242,431

Investment (€) 20,000,000 15,000,000 5,000,000 3,000,000 3,000,000 3,000,000 3,000,000

Accumulated Investment (€) 20,000,000 35,000,000 40,000,000 43,000,000 46,000,000 49,000,000 52,000,000

Return on Investment 6% 9% 19% 44% 102% 206% 431%

Cookers & Ovens - Germany. (n.d.). Retrieved December 16, 2023, from https://www-statista-com.library.myebs.de/outlook/cmo/household-appliances/major-appliances/cookers-ovens/germany
 NexGen Oven Market
300000 300000000

250000 250000000

200000 200000000

150000 150000000

100000 100000000

50000 50000000

0 0
2024 2025 2026 2027 2028 2029 2030

NexGen Ovens NexGen Smart Ovens Smart Oven Revenue

Thank You Prof. Dr. Christoph
Fuchs