My concept for the class include customer retention, customer acquisition, product innovations, new merchandising strategies, pricing and promotional strategies, new sales channels and distribution strategies, changing consumer/customer dynamics, technological advancements, entering into new markets, and lastly, mergers and acquisitions. These are the different ways this company makes its money.
The kind of product offering I believe should be next will be a surf bard with an installed waterproof radio. This is the next biggest thing that I know my customers want because they are always asking about waterproof headphones and cell phone cases so that they can listen to music while they surf.
After going on Amazon I found a product called a SoundBot and it is a waterproof speaker that lasted over 6 hours and connects via Bluetooth to any device! It also is equipped with radio and other cool things like audiobooks.
This was my first venture contract description, the feedback I received included that although my idea was wonderful, it had already been used. I really don't think that this product has officially been used by all and is set. By that I mean that every product somebody has like this either breaks within a week or just doesn't have all the things it says it does.
Based on what I learned from feedback, I may need to get just a tad more creative so that my audience believes this product differs from others.
Hi Alexa,
ReplyDeleteIt seems some material is missing from your post. At any rate, I think you should explore this idea more. You mentioned that every similar product either breaks in a week or misrepresents itself. These are really general statements that may not have much merit. You could have something really big on your hands. I think a bit more research will help you find out exactly what the next step is! Good luck!
You can check my venture concept here:
http://jessgervais.blogspot.com/2016/04/venture-concept-no-2.html
Hi Alexa!
ReplyDeleteI think you may have missed a few points in this post, but what you did talk about was great! This is a very interesting idea. You might also want to think about offering paddleboards in addition to surfboards. My area doesn't have many waves, so paddleboarding is more popular, and having a built in waterproof radio would be really great. My concept is an app that allows people to meet others with similar interests in their area. It would be especially targeted at people moving to college or to new cities. If you'd like to check it out, here's the link: http://nicmcq.blogspot.com/2016/04/venture-concept-no-2.html
I think you did the assignment a little bit wrong but in any event it was a good post, and I enjoyed reading about it. I don't surf but I imagine someone who does would be interested in a speaker for their surfboard.
ReplyDeleteHey Alexa! I really enjoyed your post. I think that you are missing parts of the post but I from what you do have you did a great job. Your idea is really interesting. I grew up around water and a lot of people would go surfing or skim boarding and so having a speaker installed on those would be a great idea!
ReplyDelete