Sunday, April 3, 2016

What's Next

Existing Market:

- I think the next step for me would be to take this venture and apply it to other similar extreme sports that would also benefit from a balance training exercise class.
-After interviewing customers about what I should do next, I reached a pretty solid overall consensus of where this venture should be going. Everyone seemed to think that this venture fit very nicely into the current and future fitness industry. Paving the way for new exercise products and services like Zen Surf will allow us to direct more traffic to our business and promote the industry. The overall thought in the interviews was that we should try to take this business and expand into other extreme sports, and tweak the training device slightly to cater for the different needs.
- I think this would be a very easy product and service to expand in the existing market because it will draw so much attention from consumers with very similar interests. Many surfers like skateboarding and snowboarding, so these would be sports in the extreme sports market that we would try to target. It would be very easy to reach out to these potential customers as they are typically interested in all of these sports and if we had an eye drawing campaign I think we could be highly successful in this pursuit.
    I think it would be important to have some big time faces backing our brand and pushing it out into the existing market with the write presence. I think this product and service will really heavily on the overall brand and image that it promotes, as well as the benefit that it serves for the particular sport intended to train.


New Market:

- The radically different market that I think would truly embrace this idea would be underdeveloped countries that don't have access to the ocean and surf. I think they would love this concept and be stoked to learn some surfing techniques, and get a great workout at the same times.
- My venture would create value in this market because it would provide underprivileged kids with a foundation and focus to keep them healthy and on track. It will be a good outlet for them to stay away from trouble, have fun, and stay in shape.
- I received some very constructive responses in regards to how I should implement this in a new market. The overall consensus seemed to be to focus on product development and really make sure the training device benefited the specific sport of interest. This will determine the overall success of the service as well as the product.
- I definitely think there is ample opportunity in this new market and there is so much room to expand this combination of a product and a service. Since extreme sports typically expose very similar fans (many who are fans of one extreme sport also are fans of another) this new market would be extremely easy to reach once engulfed in it. If I could reach the surfing industry and get my product and service out there, It would allow me to propel into other industries.
        Snowboarding, skateboarding, and wakeboarding are the sports and markets that seem like this idea would be the best to apply to. These participants all generally enjoy surfing as well, as they are very related sports. I think it would be easy to advertise to these consumers and transition them to get interested in a new extreme sport and the training device available for it in the market.

5 comments:

  1. Hi Alex, I really liked your idea for this assignment, and thought that you did a good job. Unfortunately we were supposed to include videos of our interviews, so you may want to fix that so that you can get your points for the assignment. I like the idea for alternative ways of working out, and think that it could be very beneficial to many sports, and current workout regiments.

    Unfortunately I did not complete this assignment in time, so I cannot post mine.

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  2. Hey Alex. Great job on your assignment! I would have to agree with the customers you interviewed. I, too, think the venture fit very well into the current and future industries. The assignment totally slipped my mind so I wasn’t able to get it in on time. However, you can check out my other blog assignments at http://tmvuf.blogspot.com if you’re ever interested.

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  3. Hi Alex!

    Great job on the assignment. You really gave me a complete, structured, and detailed explanation of your existing market and new market. The only downside is that you did not include video interviews, which was part of the assignment. However, besides that, the rest is great and high quality. Good job! Here's my "What's Next" check it out! http://ent3003nicole.blogspot.com/2016/03/whats-next.html

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  4. Hi Alex,
    I totally agree with you when you said that it would be important to have some big time faces backing our brand and pushing it out into the existing market. I also agree that don’t have access to the ocean would love your product. I think advertising would be a huge factor on whether your product succeeds of fails. If you want to check out my blog here is the link.
    https://www.blogger.com/blogger.g?blogID=2608101896948266853#allposts

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  5. Alex,
    I agree with Nathaneal, I was bummed that you didn't have videos included in this assignment. I would have really liked to hear what people thought individually, not as an overall consensus. I think your idea is really cool, and would definitely be successful. I love skiing, but I'm not very food at it, so I would try snowboarding with the help of your product. My advice would be to really try to get the interviews either on camera or an audio recording. People like to hear what the interviews said. Check out my blog post: http://rachelquispe.blogspot.com/2016/04/whats-next.html

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