Existing Market:
Step 1: Ideally, the next step for my venture concept is to expand into real establishments and get this thing running. I would most definitely be interested in finalizing everything with my contacts up in Toronto and get this show on the road. We already have the units built and designed and ready to be placed in clubs, venues and establishments.
Step 2: I think the main thing my customers want is having an opportunity to go out and have fun without losing and getting anything stolen. They want to have a safe place for their items and as far as I see it, they want nothing more than for us to start launching and placing these units into establishments.
Step 3: What makes most sense is seeing how this works in the first 5 locations and determining whether it makes sense to pursue into bigger or smaller locations. Customer satisfaction and safety is the number one concern and we want to see if these things are going to be followed correctly. Not to mention, based on feedback from a wide scope, this seems like a product that people will pay to use and it should take off well and smoothly.
New Market:
Step 1: This I believe would only work in cities where the population is pretty dense. It could work in small towns where bars and club are located, but I believe because there is less people in small towns as opposed to big cities, people will be rather skeptical.
Step 2: I truly have no clue how this alternative market would work because it is pretty specific. It would have to take a great deal of persuading people as to why it is better for them not to get their stuff lost or stolen, even if they do live in a smaller city or town
Step 3: I cannot really predict what they would say because most of the feedback I have gone through are from customers who are in my specific market sector.
Step 4: Because I cannot reach out to customers at this particular moment, I did some googling and looked at some places in smaller towns here in the U.S. and Canada and found that my product would fit well into the establishment itself because a lot of these places are even more spacious than the ones in big cities. But it all depends on how secure people feel about it and their trust towards my product and if they see the practicality about it.
Maybe for an alternate market, you can extend it into other areas besides venues such as gyms. Although a lot of commercial gyms already have a service like this, many smaller scale gyms do not and could use an amazing product idea such as this. A lot of the things moving forward are subjective, so i understand your reasoning in your responses.
ReplyDeleteHey Gracie,
ReplyDeleteI think you are right about targeting big cities. Although you still could sell in smaller towns, but big cities have higher crime rate and may want a product like this. I think if you can target different audiences by changing the way people hold or wear this, I feel like it may work that way as well. Great post, and keep working at it!