Existing Market
Interview Summary
After interviewing 3 people that are already part of the market I identified, each person had different responses when asked, "What should I be doing next with my business?" The first interviewee says that I need to find a way to receive feedback from the general public. The most efficient way to accomplish this would be a survey. It would highlight the negatives and positives of my venture in the public's opinion. I also brought up the fact that I plan to expand to more than just making cell phones more durable. I would like to work on other portable devices as well. He believes there is potential as long as it is cost-efficient. The second person wants me to think about what kind of store I'm going to have. Will it just be a factory manufacturing the phones or will there be an actual store that sells the materials? Will I be selling directly to the consumer or selling to the phone companies? The final interviewee mentioned the same thing as the second interviewee.I really have narrow down who my audience is in order to make this venture successful. He thinks expanding to other devices is a good idea as well.
I thought this feedback was helpful. I know see things from a different perspective and will work accordingly to be successful.
New Market
Interview Summary
New market idea:
Apple gives me a request to manufacture 500 iPhone X models with my materials. My business makes them and sends them to Apple. The customer then buys one of the phones from an Apple store. Doing it this way means I am not connected to the consumer at all. I would be an independent entity supplying directly to the companies.
Interviewee 1 says he thinks this idea isn't good because the customers themselves will not know about me or my company. They will accredit the stronger to phones to Apple and only Apple. Interviewee number 2 says this is a good idea. He thinks operating like this puts most of the liability on Apple since my company's brand will not be on the phone.
Each interviewee made good points. I believe that there needs to be a connection between my company and the consumer.I agree more with the first interviewee because I need to be able to establish my own brand. Once the consumers see my work and know that it is my work, it will expand my business.
Hi Brachari, I received similar feedback from my three interviews. They talked about a storefront vs. online store, and trying to also conduct surveys so I can have a precise marketing strategy. I'm glad that you were able to see your venture from their perspective. After hearing feedback it really makes us look at things through another lense. Great job!
ReplyDeleteBrachari, I agree that branding will be a key element in your venture. As more people learn about your durable glasses, word of mouth will begin to increase. I do agree with receiving feedback from the public, it is important and trivial for your venture. In your case, branding is slightly more difficult, but it will raise your brand presence, and major news will spread if you land with a large company like Apple.
ReplyDeleteHi brachari,
ReplyDeleteIt seems like you like you got a good amount of feedback on this assignment. The marketing strategy will be a difficult task in getting big companies to buy into your product or have individuals buy them. I think you best form of attack is to online with people more likely to google how to fix my screen on my phone.