Friday, March 27, 2020

Idea Napkin No. 2


1.     I am currently a student at the university of Florida pursuing a bachelor of arts in International Studies. I am 21 years old and I am from South Florida. I have a passion for learning languages and experiencing different cultures. My talents are language learning and comprehension along with drawing. My skills and experiences have to do with government work, legislation, foreign policy, and cultural emersion. Finally, my aspirations are to work in the United States government, travel abroad for work, and have a prosperous career.
a.     I could see this business being a burden at first but if all goes well could be great supplemental income, but it would not be a main focus in my life.
2.     My product will solve the unmet need of people that want the same focus that caffeine gives but also seek an alternative that will not give the addictive side effects ranging from college level adults to those in their later years of life.
3.     The offering is to people with a caffeine sensitivity, those with high blood pressure, those that cannot drink heavily caffeinated drinks, and those that fear caffeine addiction especially those in the later stages of their life but still enjoy the energy caffeine gives to them.
a.     They all have in common a need for an alternative to caffeinated beverages and supplements.
4.     I believe people will pay money for the product as an alternative to highly caffeinated drinks and another alternative to other holistic alternative drinks, because it will be a new interesting product with a colorful and artistic bottle with health benefits on the side of the bottle. Also, have the all-natural energy boosters labeled on the side of the bottle.
5.     The differences, as mentioned above, are all natural alternatives to other holistic drinks with a bright, artsy bottle. This opportunity has the benefits of not having any caffeine added to it or fake chemicals to give you a jolt of energy.

  From these five bullet points listed above, it is clear that there are weaker elements to my opportunity such as my dreams and aspirations along with market penetration. The clear elements that are strongest are those that deal with who is the target customer and why there is a need for this. However, this is overshadowed by this opportunity having so many viable competitors with almost negligible differences. It becomes ever more vivid that my business concept needs to evolve in some way that makes it stand out and still retain the core concepts I have in mind.

  For the feedback that I received it was overwhelmingly positive. The posters detailed how they enjoyed how I explained every step and see that I have a great potential as long as I flesh out the ideas a bit more along with expanding my target group to encompass even more people. Also, that with a little more though along with my talents and style that I will be able to get my opportunity up and running. From these instances I incorporated by flushing the idea out even more and expanding y target segment.

2 comments:

  1. Hey Austin,
    I think that you did a great job identifying the opportunity with healthier caffeinated alternatives and why your market segment would care about that. I also liked how you identified the many competitors offering similar products as your main obstacle at hand. I feel like this assignment really gave you a feel of what you need to work on such as differentiating your product and offering unique benefits different from the rest of the market. Overall, I believe you're definitely on the right path.
    Samuel Ackenine

    ReplyDelete
  2. Hey Austin,
    I'm glad that you have been able to identify your best skills so that you are clear of what you are proficient at. I believe that your skills and your aspirations go hand in hand. It is also good that you can correctly isolate your target group so you can have an idea of your prototypical customer and sell your product more effectively. Keep up the good work!
    All the best,
    Luis

    ReplyDelete