What's Next?
Existing Market
Step 1: In terms of next steps, I think my next step would be to garner support and awareness of my product on campus. Additionally, I would work with student organizations to get every student organization at UF subscribed to my service.
Step 2: Interviews cancelled.
Step 3: Over the next few months, I would first start by meeting with a software developer and creating my product. I would be sure to include all the services I have described in my last post to ensure that my product is unique among competition. Additionally, we would have to work out the many expected bugs that will come with building the app and website.
I will also work to meet with the university to gain the support of all professors in using my platform. Their compliance is vital, so offering a partnership and convincing of them my opportunity and how it will help their students succeed will be my priority. I also will work to meet with as many student organizations as possible and work closely with the Student Activities and Involvement office to get them subscribed to my platform.
New Market
Step 1: A radically different platform for me would be a platform for organization for middle schoolers, rather than college students.
Step 2: My venture concept could potentially create value for middle schoolers as they are starting to become independent and are learning how to be organized. An all-inclusive platform of their school work along with any extra-curricular activities may be beneficial to many of them.
Step 3: Interviews cancelled.
Step 4: After contemplating this opportunity, I am actually very interested in pursuing it. Middle schoolers are in need of organization more than college students, as they are just learning how to stay organized. Additionally, to my understanding very few middle schools utilize platforms such as Canvas, so my product would be extremely unique for them.
This opportunity almost seems more attractive then my existing venture, as college students have a much greater amount of options to choose from for organization. There is much more competition in my existing market than my new market. Additionally, I would be working more so with parents wanting success for their children with higher budgets rather than college students on budgets, so I may be able to make more profit in my new market. I do believe my current venue is feasible, but I am very surprised after exploring this market how feasible it could be to pursue this opportunity.
Hey Shaina,
ReplyDeleteGreat job with this post. I definitely think your new market should be one you greatly rely on. Middle schoolers and high schoolers especially need the help with your service since they are nit as independent and can easily forget to do assignments. I think they should be just as big a market as college students would be! Great job!
Hi Shaina,
ReplyDeleteI enjoyed seeing your analysis on the possibility of expand your market on your product and business concept. You seem to be very knowledgable on who your current consumers. Having that strong background will allow for you to build your customer base. There is great potential here keep it up
Hi Shaina,
ReplyDeleteI think the expansion of your target market to high school and middle schoolers is a great idea because that will establish their customer loyalty before they even get to college. This is a great platform from which any student can benefit. Once again, great job with this post and thank you for sharing
Hey Shaina,
ReplyDeleteI really like how you branch out of traditional thinking when it comes to your product. A lot of revenue would be brought in through a subscription service, but having every student at UF would bring in massive amounts through a matter of weeks. You have a very intricate knowledge of who you want to sell to and why. Really good work.