Existing Market
Throughout the past week I have interviewed three individuals in my existing market. During the interviews those individuals provided me with a number of ideas that I plan to implement in my business concept. In terms of growth for the future in my existing market, I am going to be adding products to my product line and modifying the current product that I have.
The first new product is a modular version of the Porta-Chair. This chair will have a modular design that will allow customers to pick and choose what attachments they would like to best fit their needs and lifestyle. Attachments include cup holders and a portable phone charger. The second product that I would add to my line would be a chair embroidered with sports team logos. Sports fans are loyal and dedicated to their teams. Most would choose a product branded with their favorite team over an unbranded product. Additionally, the last product that I could add would be a premium version of my chair. This product would have a larger area to sit and include cushions and premium materials such as leather.
New Market
My existing market includes people falling in the age range of 18-35 with semi-active to very-active lifestyles. Because of this, I sought out interviewees that fell in the 50-65 age range and were not very active. What surprised me the most was that the number one feature that was requested in a new product was protection from the sun. I did not anticipate the fear of getting sunburnt to be so high among this group. My assumptions for this new market were not correct. I thought the number one thing they would emphasize and want in a product would have been comfort. They were also willing to sacrifice portability for comfort because they would not use the product as frequently as my other customers.
After conducting these interviews, I do find this market to be attractive. This new market, however, is not as attractive as my existing market. Their feedback gave me inspiration for a number of products that would fit their lifestyles. The first product is a lounging version of my portable chair. The chair would have a similar form factor to other lounging chairs, but have reduced weight and be easy to pack up and move thanks to different materials and a new design. The second product would be a sun umbrella attachment for the modular version of my Porta-Chair. This product idea is a direct result of the feedback I received from the interviews.
Throughout the past week I have interviewed three individuals in my existing market. During the interviews those individuals provided me with a number of ideas that I plan to implement in my business concept. In terms of growth for the future in my existing market, I am going to be adding products to my product line and modifying the current product that I have.
The first new product is a modular version of the Porta-Chair. This chair will have a modular design that will allow customers to pick and choose what attachments they would like to best fit their needs and lifestyle. Attachments include cup holders and a portable phone charger. The second product that I would add to my line would be a chair embroidered with sports team logos. Sports fans are loyal and dedicated to their teams. Most would choose a product branded with their favorite team over an unbranded product. Additionally, the last product that I could add would be a premium version of my chair. This product would have a larger area to sit and include cushions and premium materials such as leather.
New Market
My existing market includes people falling in the age range of 18-35 with semi-active to very-active lifestyles. Because of this, I sought out interviewees that fell in the 50-65 age range and were not very active. What surprised me the most was that the number one feature that was requested in a new product was protection from the sun. I did not anticipate the fear of getting sunburnt to be so high among this group. My assumptions for this new market were not correct. I thought the number one thing they would emphasize and want in a product would have been comfort. They were also willing to sacrifice portability for comfort because they would not use the product as frequently as my other customers.
After conducting these interviews, I do find this market to be attractive. This new market, however, is not as attractive as my existing market. Their feedback gave me inspiration for a number of products that would fit their lifestyles. The first product is a lounging version of my portable chair. The chair would have a similar form factor to other lounging chairs, but have reduced weight and be easy to pack up and move thanks to different materials and a new design. The second product would be a sun umbrella attachment for the modular version of my Porta-Chair. This product idea is a direct result of the feedback I received from the interviews.
I like that you're thinking about attachments to the chair because I don't know a chair that carries a port to charge a phone. Another thing to thing about is figuring out problems with chairs that people don't like. For instance, are they comfortable, can the chair move, and designs. One other thing is not losing what the product stood for. The product is supposed to be light and easy to carry. I would also think about the things that you want to add to the product. Good job, at addressing the market that it would not succeed in because it makes you question, how to expand to a new market without losing my previous one.
ReplyDeleteAttachments are a great idea for this. I agree with Kyra. I also love the idea of sports themes. People will pay good money for their favorite sport logo. The attachments are interesting and you may want to think about the packaging and including a caring bag/case for the chair and the attachments. They are interesting but I can also see it being cumbersome if they are required to be carried separate from the chair. Maybe a better idea is to even design the chair with places for them to "snap" in when the folded?
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