What I think is next:
I think
what I would consider moving forward with the service would be to expand the
service into other avenues of music festivals. This product is currently
focused on the electronic dance music scene while there are so many other types
of music festivals out there such as Bonnaroo and even arts and music
festivals. With all the other types of music festivals, there are opportunities
for other demographics.
New Market interviews:
1.
Interview with a rock concert fan named Aidan:
Aidan have seen people on drugs at rock concerts, and believes that there is a
market for this service. The service could be downscaled because rock concerts
are smaller in nature, but he believes that it could be used.
2.
Interview with a rap concert enthusiast named
Simon: Simon believes that a lot of drugs are consumed especially at Rolling
Loud where anything goes. This would ensure the safety of its attendees.
Reflection:
I was so focused on developing this service for my own music
tastes that I forgot that there are many other different music tastes that also
have the same problem at their live events. Even though rap, rock, and other miscellaneous
musical acts have a considerably smaller number of people who use drugs, the
service could be down-scaled to reduce costs, but also have a presence at these
events.
My interviews with these individuals really broadened my
perspectives with other musical tastes and types because I did not know that
they would also have the same issues, and so this new market would open a large
amount of consumers for this service.
Existing Market:
I think that at times, people are distrustful of other people
when it comes to handling drugs, so there could be an incentive in getting
their drugs tested such as a free piece of food item or snack when they bring
their drugs to the booths to entice people to utilize the service.
Existing Market Interviews:
1.
Interview with Aidan: Aidan stated that the food
item would not be enough for people to trust other people when it comes to
handling drugs.
2.
Interview with Jenny: Jenny said she would not
trust other people to handle her drugs just because she could get free food for
the risk of getting arrested or some sort of punishment.
3.
Interview with Kaden: Kaden would use the
service for its safety, but not just because he would get a food item as an
incentive.
Reflection: There is a consensus that people would not approach
the booths just because they would get free food, but they would approach it to
get their drugs tested for free instead. I think the new idea would fail, but
there is always that intrinsic willingness to get their drugs tested.
Duc,
ReplyDeleteI think that you did a good job figuring out how you would effectively exploit another market. I think it was cool to see that you realized that you were basing your opportunity on your own preferences and forgot that there is more than just that. You did a good job defining your existing and new markets and this will help you with the success of your opportunity in the long run.
Duc,
ReplyDeleteI think you learned a lot from this assignment about your product. I agree that now that you have created this product and thought about it a lot with one specific group at electronic concerts you completely forgot about rock or country concerts where this product might apply as well. This has open up so much more for your product great job.
Duc,
ReplyDeleteI think it is a very good idea to look to expand into other genres of festivals. There is definitely a lot of drug use at festivals other than EDM so I think this would fit your service well. I also think that providing an incentive to use your product could be a good idea as long as it is not increasing your costs by too much. Good job on this week's assignment.
Duc,
ReplyDeleteI think that if these drugs were legalized we would not have this problem. If drugs were legal people would know exactly what they were getting because it would be a regulated market. Expanding you product into smaller markets like rock and rap would be interesting because with music taste changes so do drugs choices change.