I asked customers what we should be doing next and it surprised me. Instead wanting charging on a larger scale, they wanted it to be smaller. They recommended that we start working on a device that will stick to your phone case that will wirelessly charge your phone. Another suggestion that falls into line with that direction is a portable charger sized device that s student could keep in their backpack while in class that would charge their individual phone while it is in their pocket, without the need for a charger cord. When I asked the customers about the system with the larger charging capabilities they said it would be useful, but they feel like they would personally get more use out of their own individual one.
The future path for growth inside the existing market lays in catering to the needs of our customers. I think the best way to do this is to go smaller. That decision isn't permanent, we will most likely make larger models, but for now it seems like going for the personal wireless charging systems will be better.
After reflecting on my first venture the main thing I need to focus on is not making the product fit into a market, but I should try and design it to fit into a market. Another takeaway from the student feedback was that my personality will lead the way in my venture. I feel like I will ultimately make all of the decisions when it comes to the future of my venture. Some main feedback I got from the interviewees is that the specifications and capabilities are more important than anything. All of the people wanted to know the range, how much it cost, and how many phones it can charge, so I know I'm going to have to work with the numbers.
I have changed my concept to cater to families instead of businesses, and have been way more specific about my ideal customer.
Greetings Ethan, overall I believe that your business idea in general is a great one that I know if you decide to pursue in the near future will make you a billionaire. It was a great move to start catering your concept to families instead of businesses, since it will always be easier to sell your product to a customer than to a business.
ReplyDeleteHey Ethan,
ReplyDeleteI think you did a really great this job this semester describing your product and sharing it with the rest of the group. This is a very unique product in the sense that it is almost mandatory that you own or have a cell phone in the time we are living. This device reaches many users not just certain groups of people.