25 Whats next
What I think is next:
I think the next step for "Cap your Cap" is to venture out in the realm of B2B rather than solely B2C. I had focused so solely on the need here in Gainesville that I had no thought that if this product succeeds it could be sold in other retailers. These retailers could include local or national bike shops, moped stores, skate shops, and even meg retailers like target or Walmart.
Existing Market Interview-
New Market:
The New market I plan to target is also stated in my "What I think is next," it is Business to Business rather than Business to customer.
New Market Interviews:
Reflection:
The kind of adaptations I would have to make it the mass selling and less personalized nature that B2B would require. Since it would be sold in bulk, and in multiple locations they could not carry the variety of styles I had always envisioned. Customization would also not be available at all of these retailers. This second market does to seem be even more attractive then you the existing market in terms of profit.
I think the next step for "Cap your Cap" is to venture out in the realm of B2B rather than solely B2C. I had focused so solely on the need here in Gainesville that I had no thought that if this product succeeds it could be sold in other retailers. These retailers could include local or national bike shops, moped stores, skate shops, and even meg retailers like target or Walmart.
Existing Market Interview-
- I interview David, a sophomore at UF whose main from of transportation is his bike
- I talked to Caitlin, a senior who rides her scooter "practically everywhere."
- Lastly I talked to Donald, who is an avid skateboard enthusiast.
Reflection:
This time around when interviewing my interviewees, I got some great ideas on whether or not my product could be sold in other retailers. Based off of their answers, I think it is safe to say that my product could succeed on the shelves of another business. They were skeptical on how I could find a material durable enough to be as safe as a helmet, which has always been my weakness. However, if I can engineer this product, they said it could be sold in multiple different retailer types.
They were surprised that I had not thought hard about selling it outside of Gainesville. What makes the most sense for my venture in terms of growing in my market, WOULD be to start selling B2B. Although B2C is more personal and I could sell customized products online and in stores. The real money would come from being sold in larger already well established retailers.
New Market:
The New market I plan to target is also stated in my "What I think is next," it is Business to Business rather than Business to customer.
New Market Interviews:
- I reached out to my local Target
- I went to New Scooters for Less to talk to a manager
Reflection:
The kind of adaptations I would have to make it the mass selling and less personalized nature that B2B would require. Since it would be sold in bulk, and in multiple locations they could not carry the variety of styles I had always envisioned. Customization would also not be available at all of these retailers. This second market does to seem be even more attractive then you the existing market in terms of profit.
Hello Emily,
ReplyDeleteI great job on this assignment! I agree with your interviewees on selling outside of Gainesville. Most young adults never wear helmets. I think it would be reasonable to think that you could start in Gainesville and then expand out.