Step 1: Talk about what you think is what's next in terms of products and services for your venture.
-Next for my products and services I think is about upgrading the scooters. By upgrading the scooters I am able to get out a higher quality product to my customer. This will allow me to be able to reach new markets and have more customers available.
Step 2: Interview three customers who are already part of the market you have identified, and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about your ideas of what customers might want next.
-I am unable to do this step because of coronavirus.
Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market.
-To grow my existing market I think the best thing to do is increase advertising/marketing. To do this the best method is to advertise towards the younger market such as freshman and sophomores. This will allow me to be able to reach more people and at a greater time. The freshman and sophmores are more likely to travel and are therefore my biggest potential customers.
New Market.
Step 1: Identify a radically different market from what you're currently planning to target. If you're currently targeting B2B, think about going after a B2C market. If you're currently targeting an affluent part of society, think about targeting a very poor part of society.
- Another market I can target is the surrounding community next to the UF campus.
Step 2: Once you have identified a radically different market, describe how you think your venture concept might be able to create value for people in that market. You may have to get creative with this -- that's OK -- and perfectly welcome!
- I can create value for these people by allowing them to have a cheap transportation way. This will allow them to get to any job or restaurant they need
Step 3: Interview two people from this new market. Again, describe to each interviewee what your concept is. Then, ask them how they think your business might be help to meet customers like them. What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market? Step 4: Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on.
-I cant do this step because of coronavirus.
great job on this post! While the whole thing is very well written and it's clear that you gained some very valuable feedback from the people you spoke to, I want to focus on the new market section of your idea. I love the B2B as opposed to B2C version. With the B2B customers, you could likely charge a monthly fee to both the business and the contractor since you would be making the business' job much easier and also connecting contractors with a high volume client. Great idea
ReplyDelete