Week 11 Reading Reflection

The biggest surprise from my reading was coming to the conclusion that the customer is in control and makes all the decisions rather than the entrepreneur him/her self. What was both confusing yet shocking was reading that mobile marketing is going to be a major key to successful marketing for companies. Two questions I would ask the author is why are entrepreneurs scared by the idea of sampling, surveying, and statistical analysis . Second question would be why is mobile marketing going to be our future. There was one thing is disagreed on . I don't believe mobile marketing is our future because no everyone has a phone nor is it the only electronic we use.

Amazon Whisperer

• 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.

My Unfair Advantage

Resources in my venture:

1. Connected to many organizations with University Of Florida: This resource VRIN because it allows me to connect and gain support with those organizations that I am a part of
2. Over 4 years of job experience: This recourse is VRIN because with all the experience and knowledge I gained while working in various stores, it will allow me to run a business with people that are willing to work as hard as I.
3. Amazing team of people supporting my product: This is VRIN because not many have people surrounding them that believe in them and their goals.
4. Great credit score: This is a VRIN because with my credit score I am able to take out loans if necessary
5. Education: This is a VRIN because many entrepreneurs create businesses without a college degree. Taking this course has allowed me to have a better insight in the business world
7. Access to innovation hub: This is a VRIN because it allows me to have access to other entrepreneurs and potential investors
8. Amazing team: This is a VRIN because I have several people on my team who each study a different major but who can all contribute to the company and input great unique ideas because of their background
9. Selling to a specific customer: This is a VRIN because I have a specific targeted customers that will buy my product because it is made for them.
10. I've come up with a unique idea of wanting to sell a bike umbrella/cover: The is a VRIN because this is the sort of product that needs to be put onto the market and is much needed but has yet to be introduced to world.

My top recourse is probably having an amazing group of people who have given me great feedback throughout this course. With their feedback, I was able to manipulate my product to an even better one. It still needs some work, but I'm sure with them on my side I will be able to accomplish great things.