19A – Idea Napkin No. 2
1. You?
I am a Telecommunications major with a minor in Innovation. Through my minor, I have learned a lot regarding the process of thinking about problems people face and innovating an idea. The minor has also enabled me to learn different pitching tactics through working with events such as catalyst. These concepts I learned can greatly contribute to the success of the product.
2. What are you offering to costumers?
The product is a reusable stainless steel cup with a heater on the bottom of it to heat the contents instantly. This will allow the costumer to instantly heat soups, stews, and even coffee without kitchen access.
3. Who are you offering it to?
On the first Idea napkin assignment, I got feedback saying that it would be easier to market my product to one segment rather than multiple. I had talked about the homeless, busy parents, and students, but now I will be targeting college students.
4. Why do they care?
Convenience is a big reason people will value and care about this product, therefore I feel like the segment I should hone in on is college students because they have busy lives and convince often appeals to the average college student.
5. what are your core competencies?
Studying Innovation makes me stand out because I can use all the skills I learned in my classes towards this product, whether that be perfecting the pitch and adding elements to the product to make it more effective.
I definitely feel like all these elements fit together due to the fact that convenience is the universal need for college aged students. If it makes the costumer's life easier, they are definitely more inclined to purchase it. A weaker part of my business plan is still needing to figure out how to recycle the cups when the heater goes out and come up with a detailed plan of where a costumer brings the cup to get a new one. I got feedback on my last post saying that I should come up with a separate business plan for the recycling of the heaters.
I am a Telecommunications major with a minor in Innovation. Through my minor, I have learned a lot regarding the process of thinking about problems people face and innovating an idea. The minor has also enabled me to learn different pitching tactics through working with events such as catalyst. These concepts I learned can greatly contribute to the success of the product.
2. What are you offering to costumers?
The product is a reusable stainless steel cup with a heater on the bottom of it to heat the contents instantly. This will allow the costumer to instantly heat soups, stews, and even coffee without kitchen access.
3. Who are you offering it to?
On the first Idea napkin assignment, I got feedback saying that it would be easier to market my product to one segment rather than multiple. I had talked about the homeless, busy parents, and students, but now I will be targeting college students.
4. Why do they care?
Convenience is a big reason people will value and care about this product, therefore I feel like the segment I should hone in on is college students because they have busy lives and convince often appeals to the average college student.
5. what are your core competencies?
Studying Innovation makes me stand out because I can use all the skills I learned in my classes towards this product, whether that be perfecting the pitch and adding elements to the product to make it more effective.
I definitely feel like all these elements fit together due to the fact that convenience is the universal need for college aged students. If it makes the costumer's life easier, they are definitely more inclined to purchase it. A weaker part of my business plan is still needing to figure out how to recycle the cups when the heater goes out and come up with a detailed plan of where a costumer brings the cup to get a new one. I got feedback on my last post saying that I should come up with a separate business plan for the recycling of the heaters.
Hi Sara;
ReplyDeleteI think that all elements of your post fit well together. Regarding your recycling issue, I think you could offer your customers the opportunity to return the useless cups to you, that way you get to recycle them, and in turn, you can offer customers a discount on the next cup. That way you increase the chances of them buying a new cup, get to save some money with recycling, and turn your business into an environmentally friendly company. Go Gators!
Hello Sara,
ReplyDeleteGlad to see that you took my recommendation about focusing your market to the homeless or students into consideration. Now that you have chosen students, It will make your marketing efforts much more efficient and effective. Your next steps will be to figure out how exactly you are going to reach the students and convince them that they need it.