Monday, November 11, 2019

25

Existing market

Step 1:
I think that the next step in offering my products and services to businesses is simply expansion. I believe that my business could provide value for a majority of Gainesville businesses.

Step 2:
Makayla: "I think you could go through the process of branding your goods and refurbishing them to increase value and the price slightly. If you did this, you still need to remember not to make them so inexpensive because that is one of your selling points"
Danielle: "I think you could do this with stuff from Goodwill as well but it may be hard to establish a relationship with them unlike RePurpose"
Tatiana: "You should sell products to consumers. Maybe you could fix up some of the other items they have and sell them through a website. I am sure some of the records they have are valuable"

Step 3:

I think that my friends made great points on how I could expand my business. What I think my main focuses should be for the near future is expansion into more stores and a method for refurbishing some of the items. I think establishing more contracts is important since the companies I am working for are not ordering things everyday and therefore my volume is not very high. It may be helpful to actually hold inventory of some products just in case someone comes in to RePurpose and buys out the majority of the lot of things that my business provides.
This leads in to a method for refurbishing the items that I am reselling. Potentially painting all the items a same color or adding my logo would be advantageous. This would increase product quality and serve as a way to market my products to other potential customers. However, this may cause me to get away from my guiding selling point of low costs and low waste. It may be better if I just focus on making sure that my products are as clean as possible and lack rust so they function properly. Checking for proper functioning is definitely something I should look at focusing on.

New Market.

Step 1:
I think going B2C could be an interesting space but very different. I believe that I would need to really focus on improving the aesthetics of my products if I ever expect to sell them online and shipping may cost more than service and car delivery.

Step 2:
I think value could be created here if my customers were searching for more fun products. I think that people into vintage goods may find value in a similar concept but I am not sure if it would work my current concept of selling old staplers.

Step 3: Interview two people from this new market. Again, describe to each interviewee what your concept is. Then, ask them how they think your business might be help to meet customers like them. What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market?
Valentina: "I love vintage things! I think maybe making art with the old records could be a cool idea"
Amanda: "I think some of the old magazines and cards could be repurposed into artsy decor which people may like"

Step 4: 
I think that art would be a more suitable focus for consumers. This makes more sense since I would likely have to search harder for potential customers than I would in the B2B space. I definitely could utilize the used goods RePurpose has yet this business is more risky. A business is more likely to want to purchase a fully functioning used stapler rather than consumers purchasing a piece of art since preferences are so important. I do not see this market as attractive.
If I did this business, I think I would rely to heavily on whatever RePurpose has to offer. I think that it may be hard to create things that I would find good to sell. It also would require me to establish a greater brand and style. This requires a lot more investment than my B2B idea.

3 comments:

  1. Hi Alexis, great job coming up with ideas on how you’re going to grow your business in existing markets and new markets! I agree with you that your main focus in the near future should be expanding and finding a way to brand your goods and refurbish them. I feel like this could definitely make your goods more appealing to potential customers!

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  2. Hey Alexis,
    I really enjoyed reading about your next steps you plan to take in the future for your business. You made some great points about art being an attractive focus for the consumers, and I agree with the advice that your friends offered you in the interviews that you conducted. It is great to see you have some awesome support. Great job!

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  3. Hey Alexis,

    You did a good job finding feedback from your new and old market. I think expanding your business is a smart decision. I feel that providing your service in Gainesville can give you a mini glimpse of how your business may do in other states. Gainesville has many local businesses that can help build your clientele and show if you need to make any improvements. Good job!

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