2) I am offering an indestructible dog toy that has a camera and stereo inside of it. I am offering security for a family's house and also a one-time purchase that will never have to be repeated.
3) I am offering this product mainly to people that are very busy and also have a pet.
These customers will generally be young, meaning they are either in college, just started their first job, or are just starting their family. I would like to include older people in this list; however, they are more likely to stay at home and are usually not great with technology.
4) My customers will pay for my product because they want their dogs to be happy, and they also want to ensure their homes are safe when they are away
5) What sets me apart is that nobody has a product that has features like this. My product will stop dog owners from having to replace destroyed toys, and it will also provide security. Also, I am willing to outwork and outsmart anyone that tries to compete with me.
I believe that these elements fit together well. I am willing to work hard to provide the best product to my customers. My business has a strong product to stand behind for a long time. However, only having one product is a downside that my business has. If this product does not perform well, then my entire business will be in ruins. As a result of discovering this flaw, I will begin research and development of a new product to decrease the risk my business currently has. I believe that since my customers are extremely similar, they will be able to form brand communities, which will help the promotion of my small company. Additionally, it is great that my customers and I are so much alike. I will be able to relate to them easily when creating my new product and when I am doing promotions myself.
Lastly, I did not get any feedback from the first version of this assignment. So, this is not much to say in the feedback memo.
Hi Joseph,
ReplyDeleteI am also a student at the Warrington School of Business. I think it has helped me developed skills that I would be able to use to start my own business. I think your product has the possibility of being very successful because people care for their dogs like their own children. However, I believe there is already a product that exists similar to this so maybe alter it a little so that there are differences.