What's Next? 25A

Existing Market:

What is next for my products and services would be to put my product in stores and also have them available to order form online. Hopefully if it becomes popular enough, I could have them sold through mass distributors such as Amazon.

After speaking to the three interviewees, what they suggested I do next is to be planning for what customers might want next. They said my product is a great idea, but what about when something goes wrong and say someone gets sick, I will need to be ready and prepared to defend the product not just to potential customers, but also to make sure it is safe and able to keep being sold. They also said customer may next want products in the same field with benefits. Like for example, someone who may hike and use this water bottle, may want a different product they can use for hiking such as some sort of knife or any object that can be potentially innovated and made better. That way, the customer can shop my brand and that also expand my company.

Based on my own expectations, I would hope to be one of the top selling water bottles in stores. The idea would be to place them in stores that sell sports equipment but also outdoor and recreation activities. An example of a store would be like a place near me named "Modell's" which sell sports stuff but also stuff for hiking, hunting, etc. Another thing I would hope, is to sell enough through my website, that I would be able to start mass distributing them to companies like Amazon.

New Market:

A radically different market would be to try and introduce products that would be specific to certain audiences, such as sporting equipment. I think it would allow me to branch out and to attack a certain audience with new products.

After interviewing two people, I found that is is probably not the best idea. I have no clear product that would be able to stand out in a specific market like sports equipment. Because the market is so big, sure, there is opportunity, but it will require something special. Both interviewees explained how it is pretty pointless to attack a specific audience like that because my product is so universal and that market probably isn't the best market to begin with. They both agreed that customers from that department will most likely not be my best customers in terms of sales.

I have learned that it would be a bad idea to try and adapt my product to a specific department such as sports. With them not being my main customers to begin with, it would be hard to get them to buy more. My product is more designed for outdoor actives, not so much team sport activities. That is what gatorade bottles are for, where teams carry like 12 of them for the team. My product is designed more for people to use in recreational activities. I realized the existing market is the market to continue to try and impress.