25A – What’s Next?

Existing Market. 

Step 1: Talk about what you think is what's next in terms of products and services for your venture. 

• I believe the next step in my products venture is to gain access to a place of entry in the market. I believe that means to start talking to HP, Best Buy, and the UF book store to look for places I can place my product, whether it be on shelves or at a table outside. 

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. 

1. My first interview with Brad was fruitful, as he helped me research different computer places in Gainesville that would sell my product for me. Brad also said he would like a colorful display, something I had not planned for.
2. My second interview with Kameryn was not very fruitful as she did not have many ideas for the future of my product, except that I should get a prototype for my product before I start marketing it.
3. My interview with Jeff was also successful because Jeff really pushed me to think digitally, and how I can start advertising my product on Instagram before its release date.

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.

• After talking with these three people, I came away with 3 different ideas, all of which are important. Brad discussed the importance of in-store advertising, and what it means for my products appeal to customers. Kameryn talked about the importance of making sure my product runs smoothly and correctly first before I market it. Jeff encouraged me to start marketing my product online with a countdown to the day the product is available for purchase online.   
• While all these are excellent ideas, I believe Kameryn's idea is the most important because I need to have proof the product exists before I can market it. it would be a very sticky situation if I marketed for an August 20th release date, and then August 1st I get the product and it does not work the way I planned on it. This would cause chaos in my market as upset customers would want their product but the product is not ready to be sold. I believe that is why i should first focus on making the product before I market it.

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.

• A radically different market from my current market would be the military.

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 believe my product could be of use to those in the military. Military personnel often use electronics when out in the field, so it is not outside the realm of possibility for them to need a charging pack when on the job. If I could design a metal charging case to keep the charger safe, it would be relatively easy for soldiers to clip the charger on their bag, and have the security of knowing that if their phone or computer died when they need it most, they would have the ability to recharge it quickly. 

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? 

1. My interview with Travis was not very successful. Travis is about to head out to Basic training, and told me there is little need for this product in the military. He says the devices they use have more than enough battery power, and even some are solar powered. Travis said that potentially a bullet proof, solar powered charger would potentially be of use, but he highly doubted it.
2. My interview with Tymeir, who just finished basic training in San Antonio for the Air Force said the same things as Travis. Tymeir had no suggestions to my product as he believes it would not be successful.

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. 

• This new market was not as fruitful as I first anticipated. I assumed that there might be a need for my product in the military, but that was not the case. The equipment they use in the military is beyond a portable charger, and rightfully so. My expectations were not met, and this market is not as appealing as my original market. 
• My interviews with Travis an Tymeir helped dispel any ideas I had of pursuing the military market. While I originally thought there was potential for my product to succeed in this market, I am however wrong. I am glad I was able to interview Tymeir and Travis before I assumed this would be a successful market, as I now know that this new market would be a dead end for my business. While I would love to grow my audiences range, it is obvious that this will not be a way that I am doing that.