Existing Market.
Step 1: I honestly do not know what is next for my venture. I am currently just focusing on making this product, taking it one day at a time.
Step 2: Interviews cancelled
Step 3: Although I did not get to do any customer interviews, I was able to brainstorm for myself and pretend I had customer interviews to do this assignment! I think the main goal I need to accomplish is to just go through with actually designing the app and making it a real concept. Once I design the app, I will need to go to restaurants to actually make the app work.
Once doing this, I can focus on expanding my existing market. Some ideas I have are advertising. Create a social media account to advertise. Social media now-a-days is the best way to advertise. I can also ask restaurants to help advertise for me at their locations. In addition, I need to try to expand to all different types of restaurants ranging from all different cuisines. This way, everyone will feel a need to use this business idea.
New Market.
Step 1: My different market would be people over the age of 60 years.
Step 2: Old people don’t have a ton more time to live so they don’t want to waste the little time they have left waiting in lines to get food (sorry that is kind of derepressing)
Step 3: Because of covid-19 I did not get to interview people, but I did the best I could to imagine what they would say. They would want the app to be simple to use as older people tend to have issues with technology as they are not used to it as much as the younger generations. That was the main concern they had. They also don’t get fast food often but would enjoy the app to work for sit-down restaurants as well.
Step 4: I still do not think this new market is as attractive as my current market. They expressed concerns about how to use the app and even if I make it extremely easy to use, I think some may still have issues with it. In addition, the restaurants on the app are mainly for fast food type restaurants and they expressed that they don’t go to fast food restaurants anymore
Although they may not be my idea customers, I think a decent amount of them would still enjoy the app so I would not want to exclude their desires on the app by any means. My expectation/assumptions were about 50% correct I’d say.
Hey Aaron, I like your new venture of possibly going after the over 60 market. I think you would definitely have to change your thinking about how you will provide service and your product. Maybe move your times up earlier as older people tend to eat earlier. Specials would also be a big concern , as you could do senior discounts and maybe after so many meals you get a free one. lol
ReplyDeleteHey Aaron,
ReplyDeleteI definitely agree that creating the app, talking to restaurants, and then developing a strong social media presence are great next steps for our venture. In terms of your new market, it was interesting to read about the potential to market to people over the age of 60. It may not be as attractive of a market, but it is a potential area of expansion. Great job!
Aaron
ReplyDeleteI think that the next step of creating the app, talking to restaurants, and creating a social media presence is the right move. I also really liked you idea to go after the older crowd its smart because it allows you to cater to different demographics. I think that if you put in the work you will have a real opportunity on your hands.
Hi Aaron,
ReplyDeleteI really like your idea of utilizing marketing to promote your venture once you develop the app. I think your new market definitely has potential, but I would agree it is not as attractive of a market. I think you have correctly identified what's next for your venture so thank you for sharing and great job.
Hey Aaron,
ReplyDeleteOne way I thought to expand your business is to rebrand the technology you create for more industries than just the restaurant one. People would like to know how the lines at the grocery store or Walmart is, the DMV, and other places that are notorious for having long lines. I think people would like this equally as much! Great job.