25A – What’s Next?

Existing Market

The next step in my venture would be going towards groups that travel to provide my product and allow them to experience the same thing beach goers are able to experience. After interviewing three customers that I already identified as part of my market they said different things that are all possible plans for this venture. The most surprising recommendation was targeting more people than just beaches, which is similar to the next step I created as it would allow for a larger reach for my product and allow more people to experience how my technology works. The second customer said that I should create more products that targeted beach goers. This was a possible path as instead of expanding my customer base it would create another product that people would appeal to the same group to buy another product. The third customer said to just expand the company even more to other countries, This last suggestion was something I did not consider as I never thought of expanding outside of the united states but think is a great idea. 

Through this, I think there are several paths that I can take to grow into a larger company. I think the best path is to first look into expanding the reach my company has inside the united states such as those who travel on a constant basis. From there I think that it can then be expanded even more like another customer was saying to have a larger reach in beaches outside of the united states.

New Market

The market I am considering is more of a middle class group where any person can afford this product. The radically different market that I can target is the more wealthier groups of people that can afford a lot more than the middle class can. Thee venture concept that I have might be able to create a value for people in that market if the quality is upgraded and technology can be used in parallel with things such as their yachts and other cool vehicles. Other things that this can do is that the technology can be invested into its own cup and would therefore have to be somewhat bulkier but still worth it. The amount of effort it would take to put all the technology into a cup would be a lot, but it would please a more affluent group. The two customers I talked to said that the idea I had would be a good idea as long as it is portable. Both of the customers I interviewed said that they already had coolers integrated in the stuff that they had, but something such as a transportable device could come in handy. One of the customers said that they think if the design of the product is well developed then the value could rise a lot as many people would want it just by the looks. 

I think that this market is a hard one to hit as the more affluent group of people can be pickier with what they want. Even with that though, this market isn't unreachable as the design I have created can be changed slightly and have new added features to appeal to that group. The expectation of integrating it with other stuff that they already have is something that is already occurring but they did give me another possible idea in focusing on the design of the product as well. This new product is still a reach as it can be a very hard one to appeal to.