Step 1: The kind of product I would be offering next is to add more boutiques/big box stores to my app. Eventually the goal would be to have as many stores as possible available on the app across the United States.
Step 2: “What should we be doing that we aren’t planning to do?”
I could not video my recordings because all my interviews took place over the phone.
Interviewee 1: First I interviewed my friend in college who enjoys to shop online and is a frequent customer of Amazon. You could possibly look into teaming up with Amazon because both products have a similar target audience. Teaming up with Amazon would benefit your product immensely because Amazon already has a lot of loyal customers.
Interviewee 2: Next I interviewed my mom. She suggested having all local boutiques on board with a day-to-day delivery service. So, if customers live in a 10 mile radius of the store, the store will deliver it to the customer’s door that day.
Interviewee 3: For my last interview I interviewed my sister. She liked my idea of expanding my app across the United States but said to make sure I’m successfully locally first before I start to expand.
NEW MARKET
Step 1: Overall, I believe my product is targeting a more affluent part of society so the new market I would be targeting is a poor part of society.
Step 2: My venture concept may be able to create value for people in this market because if these customers don’t have a car and need a product that day they can use my app to have it delivered to them. Also, these customers can use my product to order necessities such as paper towels.
Step 3: How they think your business might be help to them? Do they have any ideas?
Interviewee 1: First I interviewed my friend from college who is on a tight budget. She said she would be motivated to use the app if the app provided discounts or deals.
Interviewee 2: Next I interviewed my friend who just graduated from college and is supporting himself for the first time. What was most appealing to him was that items could be delivered to him the same day. He doesn’t have a car, so he said this would be extremely convenient.
Interviewee 3: For my last interview I interviewed someone who I used to babysit for who is now in high school. She said because she can’t drive yet this app would be beneficial for her.
Step 4: I learned a lot from this new market and this assignment as a whole in general. What surprised me the most was the fact that this new market could be a big market for my product as well. I definitely should not have assumed that this market would not benefit from my product.
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ReplyDeleteHaley,
ReplyDeleteYou've identified two different segments, and this is always good. Being able to provide your services to different demographic population is always an advantage for a product or service. I see a rivalry between your service and Amazon, but if you make your case convincing and appealing to Amazon, I am sure they’ll be happy to have you on board
Personally for a new market I decided to go with a completely different idea, as I would like to keep my venture small and confined to a particular market.
Hi Haley, I feel like after reading your different interviews and hearing the feedback you got, you have a lot of great insight into how you can improve your product. I specifically liked when someone advised that you team up with amazon because your products are aiming for the same target audience. I too am looking to make a partnership with another company in order to make my product as successful as it can be! I think this is a great strategy! Keep up the great work!
ReplyDeleteHaley,
ReplyDeleteI love your idea because I am an avid online shopper and I hate having to wait for my things to arrive at my door. I think that all of the people you interviewed were very helpful in giving you valuable insight. I really like the idea of expanding this to another demographic because this widens the market which could make it more successful. Overall, you did a great job on this post and I think you really have something amazing here!
Hi Haley, I think that your three interviews were very helpful. It is very smart to make sure your business is successfully locally before wide it up across the country. Also I would recommend to study the markets per zone so that you can vary the products or use the accurate strategy according to the customers. I also thing that involving people with lower income is great and thoughtful. It is a way of helping the society, which not many people think of when doing a business. I would like to know how would the costs be lower.
ReplyDeleteGreat job!
It's great you got that info from interviewing an audience you would not have suspected would have use of your product, because you found out some valuable info. I feel the audience of poorer people would be most loyal to your app because they actually could develop a dependence on it.
ReplyDeleteHello Haley! What I really enjoyed about your post is that you are able to offer this to different demographics and still meet everyone's expectations. Doing this will definitely help you become even more successful. Everyone who you decided to interview went perfect with your idea.
ReplyDeleteHi Haley,
ReplyDeleteI think you received really great insight from this assignment. The different viewpoints of the different interviewees was certainly very helpful for you. You were able to see how different people from the new market can benefit from your product which is extremely important due to the fact that you are trying to tap into these markets. Excellent job on this assignment!
Haley,
ReplyDeleteYou really gained good information in your interviews. The different view points allowed you to see the new market to approach. It is also important to remember the demographics of the people or area your interviewing. Your idea can appeal differently and be successful in other markets.
Haley,
ReplyDeleteThis is a great idea and goes along perfectly with the trend of people doing more and more of their shopping online. The WSJ had an article today about how the next issue to tackle with e-commerce is "how to deliver to places that don't have an address." If your company ever goes global, this is something to consider! Overall I love your idea!
The people you interviewed allowed you to see the many different types of needs that your app solved for them. Another great idea that you had in this was making sure the app was successful at the local level before expanding into wider areas.
ReplyDelete