25A – What’s Next?

Existing Market.  

Step 1: Talk about what you think is what's next in terms of products and services for your venture. 

I think the next products will be start of production of electric scooters and building the right culture around the company, so we can make sure it reaches the right market. We also need to establish a solid relationship with the other major electric vehicle manufacturing in the industry.  

Step 2: Interview three customers who are already part of the market you have identified and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about yourideas of what customers might want next.  

• Customer #1: college student who live on campus and uses a gas scooter to commute to campus: Adam really liked the idea of our company and he showed a lot of interest in the finished product.  I have described my vision of how the scooter going to look like and he loved it ! He suggests that we customer make the scooters based on customer's request, so it can be extremely special.  

• Customer #2: dany, one of friends who lived in New Yorka  for most of his life: he alos like the idea and design, he also mentioned that people will have hard time using it at first but then they will get used to it. Dany thinks that people in the busy city will love it for short distance commute.  

• Customer #3: Jerald, our local mail guy. Jerald did not like the idea at all because of the weather changes and the rain in Florida but he mentioned that I should build a small electric car and pitch it to the local post office and see their reaction about replacing the old gas cars with electric cars.  

Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market. 

I think I should focus on finishing porotypes and start production after approving all the porotypes with the federal agencies. Then, we should target our market customers and make sure we a cool and a green picture around the game. After that, we can start looking at other small vehicles that might replace gas vehicles such as a new porotype of an electric mail car. 

New Market. 

Step 1: Identify a radically different market from what you're currently planning to target. If you're currently targeting B2B, think about going after a B2C market. If you're currently targeting an affluent part of society, think about targeting a very poor part of society. 

I am going to target wealthy people now and make the electric scooter an extremely cool and customizable toy that rich people and celebrities can include them in their daily life.  

I am also trying to target the companies who rent scooters in tourism areas.  

Step 2: Once you have identified a radically different market, describe how you think your venture concept might be able to create value for people in that market. You may have to get creative with this -- that's OK -- and perfectly welcome! 

I think the step here is it hope the product up and maybe use a good sum of money to make an artist in a video clip use it or post it on snapchat or another platform of social media. I will raise the price and make it more customizable item and start taking pre-orders which will generate a good amount of revenue to keep the production going plus some profit that we can also use on ads and sponsorships.  

Step 3: Interview two people from this new market. Again, describe to each interviewee what your concept is. Then, ask them how they think your business might be help to meet customers like them. What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market?  

Customer #1: scooter renting business in St. Augustin Florida. They loved the idea but there were mostly worried about the price and the safety. After explaining the full concept, they said that they can save a lot of money on gas and it can be the next cool thing that tourist will use to ride around the old city.  they suggested extra safety features and being equal to less than 50cc so it will not require a motorcycle license.  

Customer #2: upcoming local DJ in Jacksonville Florida. He is not famous yet, but he is going down the right path. He like the idea of how he can customize it and he mentioned how important is sponsorships for upcoming artists. He suggested to include on board speakers as one of the available options.  

Step 4:  Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on. 

  

• I think the new market is way different, but it also makes sense. Rich people and celebrities like to have nice toys such as a cool electric scooter and it can be sold in a higher price in that market which means more revenue for the company.