Friday, April 6, 2018

Assignment 25A: What's Next?

Existing Market:
If I am able to successfully grow my product enough so that I can start working on the next innovation for it, I would consider working with companies attempting to make the first breathalyzers for THC, a chemical in Marijuana, that works in the same way as the alcohol breathalyzer. Marijuana use is only going to become more common the more it becomes legal and so this seems to be the right step to take this business.
I talked to a few people that fit into my market segment of concerned parents of teenage kids in high school or college and told them of my future ideas and asked what else I should be focusing on with this product.  I was told that instead of focusing on the grand picture of stopping drunk driving completely, I first need to make sure that my product is developed in a way that will get people to buy it, size and compatibility with vehicles were brought up. I would have to make sure that my product is completely ready before I market it out to everyone. When I brought up the idea of testing for THC, I found that all of the parents were supportive of the idea and felt it was a good direction to follow up in, but one felt a little skeptical about how accurate that product could be and mentioned how it could affect the brand's credibility if I made a faulty product.
What makes the most sense in growing my business is to take it slow and make sure I have done every step completely and thoroughly before I move on with future ambitions. This means making sure my alcohol breathalyzer is effective, consistent, and accurate and market tested to see which size, color, etc that would be most effective in selling to customers. This has potential to be a very big business but if i rush production and get too ahead of myself in regard to trying to work on new things without perfecting my original product, i can cause this business to fail. I need to  make sure my product is marketed extensively to raise awareness of its existence. Drunk driving is such a common and widespread issue that investing in advertising would surely pay off because I do not need to convince people why this product is useful or needed, i just need to let them know it exists.


New Market:

My radically different product would be a change to the manufacturing of food store and other retail store aisles where instead of the shelves having items on the bottom, middle and high up permanently, have it so the shelves can rotate with each other effectively solving two problems that retailers have. One of which being the issue of customers not being tall enough to reach the high shelves and the low shelves being too inconvenient for customers and also this would also make stocking shelves easier for employees. This would be a good business to business idea instead of the business to consumer idea for my other product.
It would create value for the retailer because the unique and innovative shelf system would be easy to use for both its employees and the customers and therefore more people will buy at this store and increase sales and profits for the retailer.
I interviewed three people who I thought would be interested in this concept.  I was greeted with a lot of support  when it came to making the shelves easier to reach, but there was some skepticism in regards to how the rotating system would work, such as if two people wanted it rotated in different ways at the same time, and of course the possibility of injuries or the system breaking down. A possible adaptation to the product suggested to me was instead of rotating each row, the only real problem people face is with the top row so just have that one able to move down and forward somewhat, making it easier to make and eliminating the issue of items falling off in the rotating process.
This new market idea seems plausible, but not as attractive to me as my other product. It is certainly true that more people shop for groceries than drive under the influence, but in regards to what product seems more practical and would actually make more money and sell, I think the breathalyzer is the winner.





2 comments:

  1. I love how creative you new idea is regarding rotating products on aisles. I agree that the idea is not very profitable and that your breathalyzer idea is a lot of attractive. Parents do include a huge portion of your market and I feel like this idea will market itself with your mission alone.

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  2. I like the assignment because it really makes you stretch your idea to the next level. Have you thought of keeping it off of the shelves? Maybe an online retailer? Would people be embarrassed to buy something like this off of the shelves? I like that you would want to expand and I agree in the first part of your assessment where you need to get the product right to build up the brand in order to start the THC testing. Maybe the sales from the alcohol breathalyzer can fund the R&D for the THC breathalyzer...

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