Interviews:
Reflection
As far as new vs existing markets are concerned, I believe that we are already targeting such a wide range of people that it cannot really be limited to a distinct market. Very early on in defining this business model, I realized that limiting my audience simply to avid book readers going through enough material to warrant a service such as this was a little too limiting. I was forced to expand my idea into other venues of media: television, movies, and video games. Honestly, I am much happier with this route that the idea has taken, as I feel it has very universal appeal rather than limited, and is much more innovative and forward thinking. It is because of this early expansion, however, that I am left with little else to expand into post-launch.I speculated in my previous post about the possibility of moving into more public endorsement avenues. Respected institutions with brand power can often dictate the larger success or failure of media. Once my venture's brand has been well established, it is possible that this sort of staying power by association will be acquired. This offers a new venue of interaction; we will no longer be a purely business to consumer company. This will involve business to business interactions. I see this as the most logical next step/market expansion. I do not believe that without some kind of crazy circumstance, any other market could be reasonably breached with the service we offer.
Hi Jacob,
ReplyDeleteI enjoyed reading your assignment. The goal of moving to public endorsement sounds like it would be a great opportunity for your venture. Expanding to the new venue should open up all kinds of doors. It sounds like this would not impact your current market so you should not have a conflict. I look forward to seeing how this turns out. It sounds like you will be able to establish brand power. Thank you for allowing me to peer review the assignment. Here is my blog if you would like to check it out.
http://hawaiiansnoasis.blogspot.com/2016/04/whats-next.html
Hi Jacob! First, I'm not sure if I understand what exactly your business is/does. Without reading other posts, the best guess I got from this post was that it'd be a recommendation-type service for books (and now movies, tv shows, etc.) for similar books people can read that the would possibly enjoy based off the last one. I think this is a great idea, and would be super useful, however I have to ask what would be different and better about yours to the existing services like this already out there? Like some people you interviewed mentioned, Google has a feature like this, as does Amazon and Netflix. How would yours be better and superior? Great job otherwise and I think expanding to other medias other than just books is your best bet!
ReplyDeleteCheck out my next step over on my blog!
http://ent3003max.blogspot.com/2016/04/whats-next.html
Jacob,
ReplyDeleteI love how confident you are in your idea. You can really tell through your blog post and your video how passionate you are about this idea.
Your idea of moving public it very interesting and would definitely make a huge difference.
I agree with you that it was difficult to think of a new market because, like your product, mine also already was targeting the vast majority of people. I really like your idea and it seems like the people that you interviewed did too! Best of luck to you!
Check out my blog here: http://amyent3003.blogspot.com/2016/04/whats-next.html