- Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money.
The current revenue drivers I include in my business concept is hight profit margins and angel investors. Angel investors are investors that basically invest in your company for nothing in return.
- Describe what kind of product offering you believe should be next. What's the next thing your customers want? I already have a set plan on creating a bike umbrella/cover for bicycles.
Due to the feedback on covers for motorcycles, I will start drawing a model for it. After that I want to design a moped , motorcycle or even a bike that already has a cover installed into it. Think tiny one seat car.
- Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
This "next thing" will improve the users experience as well as please the customers needs. They've asked for a cover for their mopeds, and I'm starting to draw a sketch for it. It will also push customers to buy my product instead because my product will already include a cover on their moped that will also be detachable or be able to be collapsed with an easy button .
- Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.
I couldn't find a cover/umbrella for a moped or motorcycle, but the photo below is a picture of an umbrella attached to a bike. Please not that my design is not what is shown in the picture.
- What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?
All six reviews were negative and described the product as one with many problems. Its a good product if used my itself, but they have problems attaching it to the bike as well as it not doing its job well.
- Describe what design/usability changes you'd make to the product.
The main problem I had with the design is that the umbrella seems to small. It will most likely just cover your face and not your whole body. If I had to make a small adjustment to the design of this product, I would definitely make the umbrella wider so that it reaches the back of the bike. I would also fix the attachment part so that it is able to adjust on the bikes handle bar.
- Describe why you think this product would make a good addition to your current product/service offering.
This product would be a good addition because I will be able to meet several customers needs rather than those that ride bicycles . I'll have a varied selection of items that most people would able to purchase.
It's interesting to see that the similar product you mentioned had only negative reviews. That may actually be a good thing because it gives you an opportunity to build on and improve from that idea. I was not able to do the similar product part of this assignment since my business idea is a service that's based from an app. But you can check out my blog here: http://mistydawn67.blogspot.com.es/2016/03/the-amazon-whisperer.html
ReplyDeleteI think you have a very interesting concept here and I'd love to see how it turns out for you. If you're able to sell motorcycle covers I think you should definitely be able to sell bike and moped covers as well. It's definitely a good thing that Amazon didn't really have anything of this sort available as that means you're entering the market with little to no competition. Good luck on the venture.
ReplyDeleteHere's a link to mine if you'd like to check it out: http://kalimcauleyentrepreneur.blogspot.com/2016/03/the-amazon-whisperer.html