25A Whats next

Existing Market. 

Step 1: The next move for my venture for the existing market would be providing a phone with a self-regenerating battery.

Step 2:

Interview 1

Matthew Mazzeratti

How do you feel with my business idea of providing a phone with a self-regenerating battery?  

Ans: Yea I feel like that is a great idea!

What should we do that we aren’t planning to do?

Ans: I think you guys should really consider the price and how to develop the technology.

What do you think the customers want?

Ans: I think the customer would like the new technology but it would have to be reasonably priced.

Interview 2

Shaun Rogozinski

How do you feel with my business idea of providing a phone with self-regenerating battery?

Ans: I think it is a good idea

What should we do that we aren’t planning to do?

Ans: I think you guys should consider how appealing it might be to customers

What do you think the customers want?

Ans: Customers might want something more innovative, if the only feature that stands out about the phone is the battery, people might not be attracted as much.

Interview 3

Alex Roetzheim

How do you feel with my business idea of providing a phone with self-regenerating battery?

Ans: I think it is a good idea for sure!

What should we do that we aren’t planning to do?

Ans: I think it should definitely be attractive to the customers. It is important to make the customers get used to not charging their phones. 

Step 3: Overall, through my interactions with the people I interviewed, I got to reaffirm that my business idea was pretty solid. It is innovative and definitely solves problems people have in their daily lives. However they also provided numerous insights on what factors I should consider.

The pricing of my product will have to be reasonable. Also, the product will have to be advertised enough where people start to incorporate the new innovation in their daily lives.

New Market.

Step 1: The radically different market for my business idea would be the older generation of people who are not adept at new technology. These people are not attracted by the flashy new technology

Step 2: The fact my product is innovative but not innovative enough could be a huge appeal for the older generation. The transition phase is not existent for my product and people would not have to acquire a new skill set.

Step 3:

Interview 1

Kelly Lee

What do you feel with my business idea?

Ans: I like it, it is just that I am not interested as much in new technology.

What do you think that we should be doing that we are currently not doing?

Ans: Advertise more towards old people like me. 

What action do we have to take to make the product more attractive to the new market?

Ans: Again, advertise more towards the older generation and try to incorporate the product into their lives.

Interview 2

John Seo

 What do you feel with my business idea?

Ans: It’s good.

What do you think that we should be doing that we are currently not doing?

Ans: I do not mid charging my phone right now, make people realize that having to charge their phones is a big hassle.

What action do we have to take to make the product more attractive to the new market?

Ans: increase awareness, and make people realize their problem.  

 Step 4:  Through my interaction with the people in the new market, I was able to receive valuable feedback on how my product could be perceived in the older generation.  

My expectations thinking that older people might not be as interested in the new technology was correct. Both of the people I interviewed mentioned the fact that they are not that attracted to new technology. However, I think this new market can be just as effective if the children of the older people start to incorporate the new technology in their lives and eventually bring their parents into it as well.