25A- What's Next?
Existing Market- students
First Interview: an art student at UF
-She says she could see my next venture having to do with other issues in the art industry because I'm clearly passionate about.
-Says that advertisements with a clear view of my product and what makes it different would be beneficial for sales.
-Suggests beginning to talk to retailers about the need for a product such as mine.
Second Interview: a law student at UF
-He says my next venture could have something to do with what's going on in the world right now with the coronavirus. Although this doesn't have anything to do with my idea I found it interesting because that is obviously a very relevant-real issue we are facing right now.
-Says that The Smart Pen may be seen as "just another pen brand" so it is important to explain what makes my product different. Why do others need to replace their old pens with mine.
Third Interview: a freelance artist
-He says my next venture should bounce off of my current business venture.
-Expanding my ideas on The Smart Pen could help get it off the ground, and make profit.
-He says there is absolutely a need for a product like The Smart Pen.
-Suggest advertisements that explain the need for my product.
New Market- those in a professional field
First Interview: a 56 y/o pediatrician
-Says since she writes so often in the medical field, it would be beneficial to have a pen you can rely on. One that won't ruin important documents.
-Suggests expanding on different features to make my pen unique.
Second Interview: a 43 y/o equestrian coach
-Says she uses ink pen when working with clients to create a reminder sheet of things they need to work on.
-Says there is a need for something like this and she would purchase it.
-Feels the margin for profit is nice, and well thought out.
Reflection
After speaking with various people from different fields and backgrounds, I have realized how diverse my audience can be. Almost everybody uses pens frequently, and having a pen you can rely on is something special. Hearing from the interviewees, I was not surprised by any of their advice or responses but rather excited about how everyone seemed to like my product.
I feel I still have a long way to go to get my product to where I would like it to be, but I feel that interviewing is a form of networking and can help to build my venture even more.
First Interview: an art student at UF
-She says she could see my next venture having to do with other issues in the art industry because I'm clearly passionate about.
-Says that advertisements with a clear view of my product and what makes it different would be beneficial for sales.
-Suggests beginning to talk to retailers about the need for a product such as mine.
Second Interview: a law student at UF
-He says my next venture could have something to do with what's going on in the world right now with the coronavirus. Although this doesn't have anything to do with my idea I found it interesting because that is obviously a very relevant-real issue we are facing right now.
-Says that The Smart Pen may be seen as "just another pen brand" so it is important to explain what makes my product different. Why do others need to replace their old pens with mine.
Third Interview: a freelance artist
-He says my next venture should bounce off of my current business venture.
-Expanding my ideas on The Smart Pen could help get it off the ground, and make profit.
-He says there is absolutely a need for a product like The Smart Pen.
-Suggest advertisements that explain the need for my product.
New Market- those in a professional field
First Interview: a 56 y/o pediatrician
-Says since she writes so often in the medical field, it would be beneficial to have a pen you can rely on. One that won't ruin important documents.
-Suggests expanding on different features to make my pen unique.
Second Interview: a 43 y/o equestrian coach
-Says she uses ink pen when working with clients to create a reminder sheet of things they need to work on.
-Says there is a need for something like this and she would purchase it.
-Feels the margin for profit is nice, and well thought out.
Reflection
After speaking with various people from different fields and backgrounds, I have realized how diverse my audience can be. Almost everybody uses pens frequently, and having a pen you can rely on is something special. Hearing from the interviewees, I was not surprised by any of their advice or responses but rather excited about how everyone seemed to like my product.
I feel I still have a long way to go to get my product to where I would like it to be, but I feel that interviewing is a form of networking and can help to build my venture even more.
Hi Skylar! I think it is super cool how the people you decided to speak to in the new market were completely different than people who draw art. It is really cool how even people who use pens just for simple things like notes and reminder lists want a good quality pen that doesn't bleed through. I think you have a really great opportunity here with the new market and your product can really grow to be popular and successful!
ReplyDeleteHi Skylar, well done with your blog post! I noticed how a lot of your interviews surrounded the advertising schemes for your product: While this is definitely an important part of your product, just keep in mind that you can definitely do a lot of low cost, high impact marketing (be it through social media or community outreach!). I also really liked your idea of expanding into the medical field. If you do so, you definitely have an opportunity to make a big impact and profit big! Keep up the great work!
ReplyDeleteHello Skylar. At this point there have been many opportunities for us to interview potential customers to see what they think of our ideas, and it is clear that you have taken full advantage of this tool at your disposal. You are correct in that pens are a product that a wide variety of people rely on, and this has the potential to set yourself up for success in the future. Awesome post.
ReplyDeleteHey Skylar, Great post!
ReplyDeleteReading your post did make me realize something that never really hit me and that is what your second interviewee said! They said what would make you different? During rough times like right now many people tend to be frugal with their money and you have to try to make them choose your product or others as they are not gonna try to buy a lot more often like before. Great post and thanks for sharing what information your interviews provided!