Start-Up Critical Analysis: Snackpass

Start-up Critical Analysis: Snackpass
Students Name
Institutional Affiliation
Course Code
Professors Name
Due Date
Start-up Critical Analysis: Snackpass
Snackpass is a tech start-up that allows users to order and pay for food from their favorite restaurants in advance, founded in 2017 by Kevin Tan, Jonathan Cameron, and Jamie Marshal (Crunchbase, 2022). Its service eliminates the need to wait in line or carry cash and makes it easy to split the bill with friends. According to the popular business information Crunchbase, the company had raised about $95 million in funding as of September 2021 (Crunchbase, 2022). The app is easy to use, has a large user base, and is slowly becoming popular among busy people. This paper critically analyzes how the start-up has gotten to its current position and the challenges presented by limited marketing resources.
Start-ups intend to fill existing gaps in the market. According to Skawińska and Zalewski (2020), a key factor to successful start-ups is the ability to solve problems. The company has been successful because it has solved a problem faced by many people. It is difficult to find a place to eat on campus or in the city, and it can be difficult to find a way to avoid waiting in line. Snackpass has allowed people to order food from their favorite restaurants and have it ready to pick up when they arrive. This makes eating convenient and avoids the inconvenience of having to wait in line.
The company has also been successful because of its unique marketing approach. This is a common theme across all successful start-ups (Cantamessa et al., 2018). Snackpass does not rely on traditional advertising methods such as television commercials or billboards. Instead, the company relies on the power of the internet to reach its target market. This allows Snackpass to target customers in a way that other companies that employ traditional marketing approaches cannot. For instance, Snackpass targets college students looking for ways to avoid waiting in line and eat food from their favorite restaurants.
Overall, Snackpass has been successful because it has solved a problem that many people face and has used unique marketing methods to reach its target market. The company is expanding its services to more areas and is likely to continue being successful. Limited marketing resources present significant challenges to start-ups (Fairchild, 2020; Fortezza et al., 2021). Without a large marketing budget, Snackpass must be creative in its approach to marketing and promotion. The company has relied heavily on word-of-mouth and social media to raise awareness of its product. However, as Snackpass has only been in business for a short time, it has had limited success in reaching a large audience.
Snackpass faces several challenges when attempting to market its product. The first challenge is that Snackpass does not have a traditional advertising campaign to complement its modern strategies. Instead, the company relies on word-of-mouth and social media to spread awareness of its product. This approach has worked well for Snackpass so far, but it is possible it will not manage to keep up this level of promotion...