Existing Market: I believe the next step for my venture is really finding the customers that would be interested in purchasing my product. I need to find a group of people that would support my product to slowly build the gathering of my product.
After interviewing, my first interviewee believed that my service would be unsuccessful and should not be worth pursuing, even though they fit the qualifications for my market. They do not see people changing their ways to get this product since they could get something very similar for free.
My second interviewee said that I should try to figure out what products I will be offering on my website. It is one thing to say I will have all the products shown on my website that are healthy, but it will take work looking about each product and figuring out which ones are qualified to be on there.
My last interviewee said that I should start advertising my potential service to get the word of mouth out there. If people are talking about it and seem interested, it will most likely be more successful if I decide to follow through with it.
The path that makes the most sense to me is to listen to my second interviewee first. By doing this, my product will be more ready to be released. I could then listen to my last interviewee and try to announce the product to the public to try and get them talking. Afterwards, I can look for direct customers, but that should not really be my main focus at this time.
New Market: My new market is for the older generation of pet owners that live on their own. They are probably used to giving their pets the same food over and over again for years and are probably unaware of the many foods that are healthier for their pets that developed over the years. By targeting this market, they can stay more up to date with new, healthy treats for their pets.
My first interviewee said that I should try to make the filter function on my website easier to use. Older people are often not as good as the younger generation with technology, so too many filters may make them lost and unable to find what they are looking for.
My second interviewee said that I should just make the website for a specific type of pet. They said the older generation would be more likely to use a website specifically for dogs than for everything. I am not sure if this is true.
In the beginning, I did not really see a market in the older generation. I felt like they probably would not want to use technology to change their old ways, since they have been doing what they have been doing for so long. I was surprised that many people thought there could be a market there. This may overall be a more attractive market than my original. A lot of younger people are just lazy and think the are always right. They are not willing to spend money on a product they do not think they need. If the older generation is not like this, they may become my new target market.
Joe, your idea of expanding your market can be effective but I highly recommend you develop a strong marketing campaign to reach those older generations. It may be a difficult task considering their limited use of social media and other marketing pathways. However, if you are able to reach them in some way, you will definitely see a growth of your company.
ReplyDelete