Assignment 25A - What's Next?

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Existing Market
·      I hope to discover ways that I can integrate my product into older vehicles so that consumers are not forced to purchase a new vehicle to use such a helpful tool while they are driving.
·      Interview 1 – Sean, 20, college student
o   Sean recommended that I find a way to accommodate my product for people who have vision issues or hearing issues. “There are many people who deal with these issues on a daily basis and can still drive and operate a motor vehicle. Tailoring your product to these specific people would help you reach out to more consumers”. Sean stated that “customers might want a virtual assistant that they are able to talk to so that the virtual assistant can complete easier tasks without having to do it manually on the screen”.
·      Interview 2 – David, 28, chemical engineer that travels for work
o   David recommended that I find a way to incorporate the use of multiple apps on our product’s touch screen. “Being able to multitask is hard enough, so allowing consumers to have two apps open at the same time would make life a lot simpler when you are driving”. David believes that “customers might want on-screen screenshots and recording on the device so that they are truly never forced to look at their cell phones while driving”.
·      Interview 3 – Erin, 25, business woman who travels for work
o   Erin recommended that I find a way to allow business people to respond to emails while driving. “I reply to an extreme amount of emails on a daily basis, and a large amount of them flood my inbox while I am driving to work. Allowing consumers to respond to emails without having to touch their cell phones would be key.” Erin believes that “customers might want an easier platform to view their different music applications. I don’t use Apple Music or Spotify, so having an easy-to-use-and-view platform for all music applications would make life a lot easier for the consumers”.
·      For the future of my venture, I will put my product out on the market as it is and see what consumers think about it. I would be willing to make future changes to my product, but I am also willing to see people’s opinions about my first generation of my product. If there are better ideas that I can bring to market, then I will take action.

New Market
·      My product is currently B2B, so I will be switching to B2C. My venture concept will create a large value for people in a B2C concept. If I can make my product an easy-to-install process, than I would not have to sell my product to car manufacturers.
·      Interview 1-Kamal, 42, corporate job holder
o   Kamal believed that my product might be hard to install as a B2C concept. “Many people do not have experience with wiring products and such through their vehicles. If you can make it a DIY process, that would make life a lot easier”. Kamal believes that making my product available directly to consumers with an easy-to-install option would greatly impact my product and my business as a whole.
·      Interview 2- Sam, 21, college student at UF
o   Sam believed that giving college students a discount when purchasing my product would give students more incentive to use my product, compared to others. “All college students are on a budget, so providing them with a discount when they are looking to purchase your product would definitely make them want to purchase your product over your competitor’s products”.
·      After taking the time to research making my product available directly to consumers, I was surprised that people even thought about making my product a Do-It-Yourself install. I would definitely need to find a way to make my product available directly to consumers and make it an easy process to install. On second thought, this new market does not appear to be as attractive as my current market, B2B. B2B allows me to reach individuals who are willing to purchase new vehicles with my product pre-installed into the vehicles. If I were to make my product available to consumers, I would need to make a large amount of changes to my product, packaging, price, and distribution. Overall, B2C would be more costly for my company as a whole.

Comments

  1. Agatha RobinsonApril 8, 2019 at 7:50 PM

    Hi Alexandra,
    I really enjoyed reading your "What's Next?" post. I think the integration of responding to emails would be a great way to expand. This would add a unique quality that no other device has in the world, giving you a large competitive advantage. Switching your product to a business to consumer product is a great way to expand into a new market because you will have a large number of prototypical customers since a majority of people drive.

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