25A – What’s Next?
Existing Market
Step 1: The next step for my business is to build a system that each of my coffee bikes can follow. This system will be one that optimizes our routines to let us speed up our lines and decrease wait times. This will allow us to branch out beyond simply selling coffee, opening coffee bikes for malls and other markets. This system will keep our quality and service consistent across our many future platforms.
Step 2: This part of the assignment got cut; because of this, I haven't interviewed any customers in my market about the potential next steps of my coffee business.
Step 3: First, I need to get operational. This means getting my license to sell on the UF campus and getting my coffee bike ready to sell. I will also need to come to terms with the Ellianos corporation to determine how I can make my coffee product. Once I have my product, my bike, and my license, I will be operational. When I start selling, I will be out of the estimations and into the real world where I will see how my coffee bike preforms and if people like our products.
In this time, I will be able to give samples and begin growing my presence on campus. What I will be able to do is see what places have the most sales and see where people want the coffee. I will start to see what works best for my bike, i.e. how much product to carry, how much time I can spend talking to customers, how much to price things at, etc. These will enable me to get a system in place so that I can efficiently be operating with consistency and perfection.
New Market
Step 1: I would like to reach a market that doesn't typically like the taste of coffee but might have a taste for my "coffee cooler" product.
Step 2: While some people dislike coffee for its strong taste, a sweeter product might be more appealing. By providing samples during our first year on campus, I believe people who were previously skeptical of coffee will try our product and fall in love with it. This market may be the type to look for energy through drugs or even energy drinks, however, if I can hook them with my product, the coffee's taste and addiction will do the rest.
Step 3: This part of the assignment got cut; because of this, I haven't interviewed any customers in my new market about the potential next steps of my coffee business and how it could help them.
Step 4: I find that this new market has many preconceived notions about coffee and likely have their reasons for not drinking it. It like me liking Sprite yet not drinking it all the time due to reasons XYZ. I believe that coffee is good for everyone as it helps speed up the brain, makes you more alert, and thus, more productive in your daily activities. I will have to cross the barriers my new potential clients have set up to show them that my product actually tastes good and that they should try it. Because of this, I can see a struggle in reaching this market effectively.
This makes my new market much less attractive than my original market. It is hard to teach people to have a taste for a product. With my original market, students and faculty drink coffee frequently and love it. These people are more likely to become frequent customers than others who do not like coffee. However, I may be able to rebrand my product as "coffee but better." Maybe this will get around the barriers than my new market has in place.
Step 1: The next step for my business is to build a system that each of my coffee bikes can follow. This system will be one that optimizes our routines to let us speed up our lines and decrease wait times. This will allow us to branch out beyond simply selling coffee, opening coffee bikes for malls and other markets. This system will keep our quality and service consistent across our many future platforms.
Step 2: This part of the assignment got cut; because of this, I haven't interviewed any customers in my market about the potential next steps of my coffee business.
Step 3: First, I need to get operational. This means getting my license to sell on the UF campus and getting my coffee bike ready to sell. I will also need to come to terms with the Ellianos corporation to determine how I can make my coffee product. Once I have my product, my bike, and my license, I will be operational. When I start selling, I will be out of the estimations and into the real world where I will see how my coffee bike preforms and if people like our products.
In this time, I will be able to give samples and begin growing my presence on campus. What I will be able to do is see what places have the most sales and see where people want the coffee. I will start to see what works best for my bike, i.e. how much product to carry, how much time I can spend talking to customers, how much to price things at, etc. These will enable me to get a system in place so that I can efficiently be operating with consistency and perfection.
New Market
Step 1: I would like to reach a market that doesn't typically like the taste of coffee but might have a taste for my "coffee cooler" product.
Step 2: While some people dislike coffee for its strong taste, a sweeter product might be more appealing. By providing samples during our first year on campus, I believe people who were previously skeptical of coffee will try our product and fall in love with it. This market may be the type to look for energy through drugs or even energy drinks, however, if I can hook them with my product, the coffee's taste and addiction will do the rest.
Step 3: This part of the assignment got cut; because of this, I haven't interviewed any customers in my new market about the potential next steps of my coffee business and how it could help them.
Step 4: I find that this new market has many preconceived notions about coffee and likely have their reasons for not drinking it. It like me liking Sprite yet not drinking it all the time due to reasons XYZ. I believe that coffee is good for everyone as it helps speed up the brain, makes you more alert, and thus, more productive in your daily activities. I will have to cross the barriers my new potential clients have set up to show them that my product actually tastes good and that they should try it. Because of this, I can see a struggle in reaching this market effectively.
This makes my new market much less attractive than my original market. It is hard to teach people to have a taste for a product. With my original market, students and faculty drink coffee frequently and love it. These people are more likely to become frequent customers than others who do not like coffee. However, I may be able to rebrand my product as "coffee but better." Maybe this will get around the barriers than my new market has in place.
Hello Cason!
ReplyDeleteAs always, great job on this! I agree that setting up a system to create organizational and operation flow is essential in maximizing the efficiency and exposure of your service within the existing market.
I think one aspect of this flow that you could incorporate is how many bikes you plan on having as well as what routes they are going to take to not overlap or overpopulate- but also hit those spots that have the most sales as you touched on.
Thank you for sharing.
Caitlyn Torres
Hi Cason. I think its good that you're so aware of your markets and the challenges you may face in each. In the new market, I agree that it would be hard to cross borders and convince people to give a coffee product a chance, if they are not coffee drinkers to begin with. People typically either love coffee, or never drink it at all. I think the people who never drink coffee would be difficult to reach because they already have made up their mind about the product. Lucky for you, I think there are still plenty of coffee lovers out there for you to target. Keep it up!
ReplyDeleteHi Cason! Great post! I think your idea for the new market of clients who do not particularly like coffee is a great idea. Although this is a difficult market to reach out to because they don’t have the liking of taste for your product, you took an innovative approach to grasp that audience, therefore generating your bike with more sales. Great Post!
ReplyDelete