Friday, April 6, 2018

Assignment 24A: Venture Concept No. 1

Opportunity:
My product consists of a breathalyzer attachment that can be permanently placed into any type of vehicle and be required to successfully use between the hours of 10 PM and 4 AM to start the car, the times of the night when most drunk driving incidents occur.
I have identified two market segments of people who would buy this product. One group of people would be those that go out often, are young and relatively new to driving, and may consider themselves a risk to drunk drive, or have driven under the influence before. My other target segment, and the one I feel is more prominent, includes concerned parents of high school or college aged kids that are just learning to drive and are afraid of their children making a poor decision.
The forces in the environment creating this opportunity would be the growing amount of drunk driving related deaths and occurrences happening today. Drunk driving related deaths are one of the most common killers of teens and young adults and it is a growing problem that needs to be seriously dealt with.
Geographically, this product can be sold anywhere, drunk driving is not just a problem in some areas and not in others. It is a widespread issue that can be a problem in any location. Demographically, it is more common for young adults and teens to be involved in drunk driving related incidents, therefore it is best to market this product in stores where many people who are around the age of a parent with a teenager or young adult would shop at in  order to maximize revenue and profits.
There is no current way customers are satisfying this need right now. The only thing stopping peoploe from driving drunk is their own discipline and awareness for their own safety, the safety of others and the fairly strict laws we have in place right now.
This opportunity has the potential to be huge. Driving under the influence is one of the biggest killers of teens and young adults today and currently there is nothing concrete stopping these incidents from happening. If I had a sensible and practical product that worked how I described it too and those in my target markets were aware of this product, it would be a huge success financially, and save countless of lives as well.
The window of opportunity will be open as long as people are still driving cars and alcohol is still legal. The window will not be closing anytime soon, This is a growing issue, and this solution would be useful and popular among people for a very long time to come because drunk driving will always be something that is going to happen unfortunately, but this can be a great way to slash those death numbers severely.
Innovation: 
If I were able to sell my product exactly how I wanted it to be, it would be a surefire financial success and make my business very profitable. The goal for my breathalyzer would be to have a few key features that would make it stand out from others and be a practical solution to the problem I am trying to solve: drunk driving.
My product would be small and not take up that much room, so it does not seem like a hindrance to the driver or look unappealing in anyway.
I would like the breathalyzer to be able to function accurately and consistently and make it so after you breathe in it, it displays a clear number that shows the blood-alcohol level currently being tested, and function in a way so that a successful use would start the car and a failing use would make it so the car cannot be started until a successful use is drawn or until the time is out of the zone of use, (10 Pm - 4 AM)
My last feature of the product I would like to see is ability to be attached to any type of vehicle, this would probably require some sort of Bluetooth or wireless connection in order to work for any type of vehicle,  but once its connected, cannot be disconnected unless through a way that can only be accomplished  away from the car, therefore someone cannot drive home drunk by  bypassing the system.

Venture Concept:
This product will solve the problem of drunk driving because it makes driving the car physically impossible if you are drunk in the time period listed. It would guarantee safety for the would be driver and other innocent people out there on the road.
I am unsure if anyone would buy this for themselves because they feel like they are a risk to drunk driving but I think if the government got involved and made it so offenders have to get one for a lowered charge, then this would very much sell to this group. Also, I know that concerned parents of their kids would buy this because this guarantees safety of their kids and to most parents, there is nothing more important or a bigger priority.
There does not seem to be any actual competitors that have an established brand selling this product right now so if I market this correctly, I can be the only brand that does this that people will know about.
The packaging should be small to stress the fact that this product is practical and not a hindrance to safe drivers and the distribution needs to be in stores where middle aged parents commonly shop, such as retail stores like Home Depot, Walmart, and auto shop stores preferably.
I would need manufacturers for me and to rent warehouse space in order to make this product, I would market extensively through advertisement because awareness  is key for this business and then I would meet with retailers to convince them that they need this product in their stores.



1. My unfair advantage I have over others is that this problem is a very big one and there is no current solution out there that can also work as a profitable business. If people knew about my product, it would be a huge success since the problem is so widespread.
2. My next venture regarding this product would be to possibly work with companies trying to develop a breathalyzer for THC, since marijuana is legal in many places now and can also hinder someones ability to drive.
3. I want to be successful enough with this business to be able to grow other businesses and maybe try and continue attempting to solve large scale problems with products that can serve to make me money too.





























2 comments:

  1. I love your idea and your future plans. Though I feel like drug testing would be harder since it would include a blood test. Having a unique idea will definitely help you grow big and will let you use your budget in sectors other than marketing. Since it is unique the product will market itself. I can see this being very profitable and I wish you best of luck!

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  2. Matthew, I think that the idea is very important. Have you considered how Uber and Lyft might affect your profits? I was actually talking to someone today about how your generation or the next one might be the last one to own cars and maybe even get drivers licenses...Just a thought. Also, how would your product take into account if maybe someone gets stuck in a bad part of town because the car won't start. I am totally playing devil's advocate, but I wanted to put that at your feet. Good luck.

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