25A – What’s Next?

Existing Market.

1. Step 1: Talk about what you think is what's next in terms of products and services for your venture.
1. Expanding to other colleges/cities throughout the state.
2. 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 your ideas of what customers might want next.
1. Interview 1: have you thought of delivering to peoples doors?
2. Interview 2: have you considered slower but cheaper options?
3. Interview 3: what about the people that go to college outside of the state?
3. 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.
1. The most sensible option for growth within my current market would be to expand to more parts of the state while also becoming more cost effective.

New Market.

1. 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.
1. Delivering to other states within the U.S.
2. 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!
1. Would be a valuable resource for parents that have students going to college out of state.
3. 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?
1. Interview 1: It would be helpful for me because on my birthday my mom likes to send me a care package but usually it's only a couple non-perishable items and it would be nice to get more.
2. Interview 2: It would be cool to have my parents send me food but it would probably take a while from Miami to Washington dc.
4. 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.
1. I was surprised that people who live out of state would still be willing to get food shipped to them, I was worried about this because it would take a fair amount longer than inter-state deliveries.